## SHIRLEY OLD PEOPLE’S WELFARE COMMITTEE LIMITED
(a Company Limited by Guarantee)
Trustees’ Report and Financial Statements for the year ended 31 March 2021 Registered Company number 09364967 Registered Charity number 1160863
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
|Contents|Page|
|---|---|
|Report of the Trustees|3-8|
|Statement of Trustees’ responsibilities|9|
|Report of the Independent Examiner|10|
|Statement of Financial Activities (incorporating an Income & Expenditure Account)|11|
|Balance sheet|12|
|Statement of cash flows|13|
|Principal Accounting Policies|14-17|
|Notes to the financial statements|17-25|
2
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Report of the Trustees**
The Trustees are pleased to present their annual Trustees’ report together with the financial statements of the charitable company for the year ended 31 March 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (updated 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
The main objective of the charity as set out in the governing document is in the public benefit ‘to provide and maintain a care home for the elderly’. The home is a substantial building situated in its own quiet grounds within reasonable walking distance of shopping amenities at Shirley, Solihull West Midlands. The current number of residents who can be accommodated is twenty and the principal source of funding remains the fees paid by or on behalf of the residents. The trustees are not only concerned with the fabric and surroundings of the home but also in providing a ‘home from home’ environment for its residents. This can only be achieved by the best efforts of the Manager and staff. The charity is fortunate that the home is staffed by a conscientious group of people who do their utmost to deliver the ‘home from home’ environment. There have been no changes during the year in the main objective of the charity.
Residents that are admitted come from all over the Midlands and beyond and there is no restriction on admission. Some of our residents are privately funded whereas other that do not have the means to pay are funded by the relevant local authority and we welcome both to our home which is entirely inclusive.
The board of trustees have complied with the duty of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirements under that act.
## **ACHIEVEMENTS AND PERFORMANCE**
In common with many other organisations in the U.K. our activities and achievements for the year 2020 - 2021 have been severely limited by the worldwide Covid19 pandemic.
Lockdown for Elizabeth House started on 13[th] March 2020 and is still ongoing 18 months later.
Thanks to the efforts of the manager and her staff, we have been able to maintain the safety of our residents and not one of them contracted the virus.
3
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## Report of the trustees (continued)
As everyone in the country had been asked to stay at home, the management committee have been unable to meet in person so instead the monthly meetings have been conducted virtually using Zoom or Skype.
We currently have 4 trustees. Mrs M Atkins and Mr W Foster resigned from their positions as trustees but Mrs Margaret Moss was welcomed to the committee.
April 2020 was the 65[th] anniversary of the home and it had been planned to celebrate in June 2020 when the weather would hopefully have been better but due to Covid, all celebrations had to be cancelled.
On 8[th] May, V.E. Day, our residents were able to celebrate in the garden, also that same month relatives of our residents were able to visit in the garden by arrangement where strict social distancing was maintained.
A meeting “pod” was constructed inside the home where families could meet indoors whilst remaining physically separated, this was welcomed by relatives of our residents and proved a huge success.
Our appointment of a part-time activities co-ordinator has continued to be a success and our residents benefit from the daily stimulation provided.
During the summer months other activities have been arranged for our residents to enjoy but sadly, without their families able to attend. There has been dominoes and tea in the garden, our maintenance person made a large version of “Kerplunk” which has been much enjoyed, the Magic Table still continues to amuse and the staff have laid on musical entertainments.
The committee decided to apply to S.M.B.C., the local council, for planning permission to improve certain aspects of the house, the dining room, the office which has long been very cramped and we hope to enlarge and smarten up the home’s frontage. An architect was employed and eventually the necessary permission was granted. We hope to go ahead with the first of these plans, an extended dining room as soon as Covid conditions allow.
The kitchen, which had been scheduled to be installed had to be put on hold due to the virus and we hope to be able to have this completed as soon as possible.
Over the last year we have been able to carry out maintenance to Elizabeth House, both internal and external and all areas of the home have been redecorated over the course of the year.
Bedrooms have continued to be refitted as they become available.
4
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## Report of the trustees (continued)
Sadly, the regular visits from the children from the local nursery school have had to be cancelled but it is hoped to restart them when circumstances allow, as they are enjoyed by all.
Unfortunately, due to the age of our residents, we occasionally have empty rooms but we hope to achieve maximum occupancy for the majority of the time.
Thanks to the continuation of financial controls and constant monitoring of same, given the very difficult trading situation over these 12 months, we have had a satisfactory year.
## **FINANCIAL REVIEW**
2020/21 was again a positive year, financially, for the home and we were able to achieve a small surplus of £478. This includes a surplus of £39,668 on restricted funds largely to fund the new kitchen in the forthcoming year and a deficit of £39,190 on unrestricted funds due to the impact of Covid on our costs & our occupancy levels which have sadly dropped.
Having ended the year with unrestricted reserves of £331k we are hopeful that in light of difficult times ahead we have sufficient funds that will help insulate us from the effects of the Covid-19 pandemic. As such our budget for 2021-22 includes increased cost provision for PPE, cleaning materials and additional staffing which is required in order to help keep our residents safe and healthy.
Restricted reserves carried forward as at 31[st] March 2021 are £19k and represent restricted grants that have been awarded to us towards the cost of renovating the kitchen and food preparation areas.
## **RESERVES POLICY**
It is the policy of the Charity to maintain separate reserve funds for specific purposes. Tangible fixed assets, which include the freehold property, fixtures, fittings and equipment, amount to £144,435 and are not regarded as part of the reserves available for distribution. The general reserve is maintained to match financial commitments and overheads to cover fluctuations in income during the year, which provides a buffer for uninterrupted services.
As at 31 March 2021 free reserves, being un-restricted funds less fixed assets, amounted to £187,054 which includes the investment portfolio. It is the Trustees’ policy to maintain free reserves equivalent to between 3 and 6 months core running costs which amounts to around £55k per month or £330k for 6 months, which is within the agreed policy.
5
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## Report of the trustees (continued)
## **INVESTMENTS AND INVESTMENT POLICY**
During the year ended 31 March 2021 the investment were sold, however prior to sale their value increased by £5,650 due to positive gains in the stock market.
## **FUTURE PLANS**
At the moment of writing, Covid19 is having an enormous effect on the life of Elizabeth House, the home is closed to all outsiders, no visitors are allowed not even for “window visiting”. During the warmer weather the manager organised garden visits for families with all safety measures in place and they were very much appreciated but these have now had to be discontinued.
The staff have been extremely careful in maintaining the necessary protocols to keep the virus at bay and to date, have been successful as no resident has become infected. Regular testing of both residents and staff has been carried out. The Activities organiser and staff have instigated many activities for the residents from the Magic Table to Jenga, ball games, musical afternoons etc. As the threat from the virus lessens we are hopeful of resuming a fuller diary of activities, trips out, visits to the local pubs and outside entertainers visiting.
The trustees have worked alongside a bid writer to try to raise the necessary funding to replace the kitchen in Elizabeth House. Thanks to the generosity of a number of small, local charitable trusts over half of the required funding has been donated. Covid19 has had a huge effect on this fundraising as the committees of many charities have been unable to meet and so decision making on grants etc. has been delayed. Arrangements were made for the installation of the new kitchen to begin at the end of September 2020 but new regulations meant that all homes were closed to outsiders and so this has had to be delayed until such time as workmen are allowed into the building. We are hopeful that it may not be too long before installation can begin.
The Trustees have consulted with a local architectural company to explore ways of making Elizabeth House a more comfortable and efficient place for our residents and staff. Plans to extend the dining room to make access easier for our less mobile residents have been included along with enlarging and modernising the entrance area to the home. Office space has long been a problem in Elizabeth House and the plans include transforming a huge unused loft space into extra offices and / or training rooms, access to this will be via a new interior staircase. Plans showing all of the above were submitted to SMBC and planning permission was received. The work has to commence within 3 years.
6
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## Report of the trustees (continued)
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The Charitable Company is governed by its Memorandum and Articles of Association.
The charity was incorporated on 22 December 2014 and was registered as a charity on 12 March 2015.
## **Recruitment and appointment of trustees**
New Trustees are recruited at the invitation of the current trustees and are appointed as Trustees when such appointment has been approved by existing Trustees. No limit is placed upon the period of trusteeship once a trustee has been appointed. The charity is actively seeking to recruit new trustees.
## **Induction and training of new trustees**
Newly appointed trustees are provided with a thorough introduction to the workings of the charity and are provided with all necessary information which will enable them to properly fulfill their role as trustees.
## **Management structure**
The activities of the charity are steered by the board of trustees and executed and administered by the senior management team. Regular meetings take place between the key management personnel and the Trustee board which are officially minuted and recorded confidentially on file.
Arrangements for setting pay for key management personnel are made by the Trustee board and where necessary with the professional support and recommendation of HR consultants. Annual benchmarking is used to help determine decisions being made in relation to all staff remuneration.
7
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## Report of the trustees (continued)
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **Registered name:**
‘Shirley Old People’s Welfare Committee Limited’ is the name under which the charity is registered, although it is known locally as ‘Elizabeth House’.
**Registered Company number Registered Charity number** 09364967 1160863 **Trustees/Directors: Senior management:** G R Ward Joanne Clarke – Care Home Manager M I Atkins (resigned 14 September 2020) Natasha Grinnell – Deputy Care Home Manager F E Ward C D McNidder M A Moss
**Registered Office: Investment managers:** Elizabeth House St James’s Place Wealth Management 77 Elizabeth Way St James’s Place House West Midlands Central Boulevard, Blythe Valley B90 3EX Shirley, Solihull B90 8AR
**Independent Examiner: Bankers:** Karen Hanlan Independent Lloyds Bank Plc Examiner Limited PO Box 1000 12 Waterloo Close Andover Wellesbourne BX1 1 LT CV35 9JG
Approved by the Board and signed on its behalf by:
Carol McNidder _Treasurer_
Date: 11 January 2022
8
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Statement of Trustees’ responsibilities**
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the surplus or deficit incurred by the charitable company for that year. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to exist.
The Trustees have overall responsibility for ensuring that the charitable company has an appropriate system of controls, financial and otherwise.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
9
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Independent Examiner’s Report to the Trustees of Shirley Old People’s Welfare Committee (‘the Company’)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021 which are set out on pages 11 to 25.
## **Responsibilities and basis of report**
As the charity trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- 1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- 2) the accounts do not accord with those records; or
- 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
- 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Karen Hanlan, Member of Institute of Chartered Accountants England & Wales Karen Hanlan Independent Examiner Ltd 12 Waterloo Close Wellesbourne CV35 9JG
Date:11 January 2022
10
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Statement of Financial Activities (including an income & expenditure account)**
|**Income from:**
**Note**
Donations and legacies
1
Charitable activities
2
Investments
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
4
**Total expenditure**
Net gains/(losses) on investments
**Net(expenditure)/ income and net**
**movement in funds**
**Transfer of funds**
**Reconciliation of funds:**
Total funds brought forward
11
**Total funds carried forward**
**11**|**Un-**
**restricted**
**funds**
**2021**
**Restricted**
**funds**
**2021**
**Total**
**funds**
**2021**
**Total**
**funds**
**2020**
**£**
**£**
**£**
**£**
25,461
60,037
**85,498**
19,214
674,177
-
**674,177**
701,277
37
-
**37**
49|
|---|---|
||**699,675**
**60,037**
**759,712**
**720,540**|
||18,073
-
**18,073**
17,325
726,442
20,369
**746,811**
649,805|
||**744,515**
**20,369**
**764,884**
**667,130**|
||5,650
-
**5,650**
(3,248)|
||**(39,190)**
**39,668**
**478**
**50,162**
**24,418**
**(24,418)**
**-**
**-**
346,261
4,000
**350,261**
300,099|
||**331,489**
**19,250**
**350,739**
**350,261**|
All income and expenditure derives from continuing activities. The statement of financial activities includes all gains and losses recognised in the year.
11
## Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
|**Balance sheet**
**Note**
**Fixed Assets**
Tangible assets
7
Investments
-
Fixed asset investments
8
**Current Assets**
Debtors
9
Cash at bank and in hand
**Current Liabilities**
Creditors: amounts falling due within one year
10
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds of the Charity:**
Restricted Funds
11
Unrestricted funds
**Total charity funds**|**2021**
**£**
**2020**
**£**
**144,435**
150,078
**-**
55,860|
|---|---|
||**144,435**
205,938
**40,786**
13,116
**225,598**
163,729|
||**266,384**
176,845
**(60,080)**
(32,522)|
||**206,304**
**144,323**|
||**350,739**
**350,261**|
||**350,739**
**350,261**|
||**19,250**
4,000
**331,489**
346,261|
||**350,739**
**350,261**|
Registered Company number: 09364967
The accompanying accounting policies and notes form part of these financial statements.
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Responsibilities of directors/trustees:
(a) The members have not required the charitable company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006 - however, in accordance with section 145 of the Charities Act 2011 the financial statements have been examined by an independent examiner whose report appears on page 10.
(b) The directors/trustees acknowledge their responsibility for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
Approved by the Trustees and signed on their behalf by:
Carol Mc Nidder, Treasurer
Date: 11 January 2022
12
Shirley Old People’s Welfare Committee Limited Financial Statements
for the year ended 31 March 2021
## **Statement of Cash Flows**
|**atement of Cash Flows**||
|---|---|
|**Cash flows from operating activities:**
Cash generated from operations
Net cash provided by operating activities
**Cash flows from investing activities:**
Purchase of tangible fixed assets
Proceeds from sale of fixed asset investments
Interest received
Net cash gained/(used) by investing activities
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at beginning of the year
**Cash and cash equivalents at end of the year**|**2021**
**£**
**2020**
**£**
**10,310**
79,970|
||**10,310**
79,970|
||**(9,988)**
(43,728)
**61,510**
17,714
**37**
49|
||**51,559**
(25,965)|
||**61,869**
54,005
163,729
109,724|
||**225,598**
**163,729**|
## **Reconciliation of net income to net cash flow from operating activities**
|**Net income for the year (as per the Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
(Gains)/Losses on investments
Loss on disposal of fixed assets
Interest received
(Increase)/Decrease in debtors
Increase in creditors
**Net cash provided by operating activities**|**2021**
2020
**£**
£
**478**
50,162
**14,641**
15,232
**(5,650)**
3,248
**990**
-
**(37)**
(49)
**(27,670)**
7,122
**27,558**
4,255|
|---|---|
||**10,310**
**79,970**|
13
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Principal accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Status of the company**
The charitable company is limited by guarantee and does not have share capital. The liability of members is limited to £1 per member. Any surplus on winding up is to be donated to a charity whose objects are of a similar nature.
## **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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (updated 1 January 2019) – (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS102) and the Companies Act 2006.
Shirley Old People’s Welfare Committee Limited meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **Going concern**
The financial statements have been prepared on a going concern basis which assumes that the Charitable Company will continue to operate. The validity of this assumption is dependent upon occupancy levels remaining high and on donations and grants towards specific projects. The Charitable Company’s current budget shows that it will be able to operate in the foreseeable future. Based on this understanding, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments, which would result from the basis of preparation being inappropriate.
## **Funds**
General accumulated funds are unrestricted funds available for general purposes and include funds designated for a particular purpose; the use of such funds remains at the discretion of the trustees.
Restricted funds are funds subject to conditions imposed by the donor or by specific terms of the appeal under which the funds are raised. The restrictive conditions are binding upon the Charitable Company. Funds raised for the purchase of capital items are transferred to unrestricted funds once the items have been purchased, provided the donor has not placed further restrictions over the use of the assets concerned.
14
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Principal accounting policies (continued)**
## **Income recognition policies**
- Items of income are recognised and included in the accounts when all of the following criteria are met: - The charity has entitlement to the funds;
- any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;
- there is sufficient certainty that receipt of the income is considered probable; and
- the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of:
- the date on which the charity is aware that probate has been granted;
- the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made; or
- when a distribution is received from the estate.
Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of provision of a specified service is deferred until the criteria for income recognition are met.
## **Donated services and facilities**
Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or
Facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
No amounts are included in the statement of financial activities for services donated by volunteers.
## **Interest and investment income receivable**
Interest on funds held on deposit are included when receivable and the amount can be measured reliably by the Charity, this is normally upon notification by the bank or investment manager.
15
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Principal accounting policies (continued)**
## **Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise fees paid to professional fundraisers along with staff costs associated with making funding applications.
- Expenditure on charitable activities includes the costs of running the care home and its activities undertaken to further the purposes of the charity and their associated support and governance costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Tangible fixed assets**
Depreciation is provided on all assets except for land at a rate calculated to write off the cost of the assets as follows:
Freehold Property - 2.5% reducing balance Fixtures, fittings and equipment - 10% reducing balance
Fixed assets are capitalised when their costs exceeds £500.
## **Investments**
Investments were professionally valued prior to disposal and were included in the accounts at their market value. Realised and unrealised gains or losses on investment assets as recognised in the Statement of Financial Activity.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
16
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Principal accounting policies (continued)**
## **Taxation**
As a registered charity no provision is considered necessary for taxation.
## **Pensions**
The charitable company operates a defined contribution pension scheme and new employees are able to join the scheme operated by Nest. The assets of the schemes are held separately from those of the charitable company in independently administered funds. The pensions cost charge represents contributions payable by the charitable company.
## **Notes to the financial statements**
## **1. Donations and legacies**
|**1. Donations and legacies**|||
|---|---|---|
|Unrestricted donations:
Donations from Individuals
General grants from SMBC for Covid support
Furlough grant receipts
Restricted donations and grants:
In Kind donation for ‘Magic Table’
Grants from Charitable Foundations
Infection Control Fund Grants from SMBC
Rapid Testing Fund grants from SMBC
**Total donations & legacies**
**2. Charitable activities**
Residents fees
**3. Investments**
Bank interest||**2021**
2020
**£**
£
**2,531**
8,319
**14,882**
-
**8,048**
-|
|||**25,461**
8,319
**-**
6,895
**15,250**
4,000
**36,287**
-
**8,500**
-|
|||**60,038**
10,895|
|||**85,497**
19,214|
|||**2021**
2020
**£**
£
**674,177**
701,277
**2021**
2020
**£**
£
**37**
49
**37**
49|
||||
||||
17
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
## **5. Expenditure**
|**_Raising funds:_**
Professional fees
Staff costs
**_Charitable activities:_**
Staff costs
Agency staff
Premises costs
Repairs & Maintenance
Cleaning/laundry
Provisions
Landscaping & Gardening
Staff training & uniforms
Staff travel
Registration fees
Depreciation
Office costs
**Governance costs:**
Legal and professional fees
Independent Examiner’s fee (including £250 for
accounting services)
Trustee Indemnity Insurance|Unrestricted
funds
Restricted
funds
**2021**
**Total**
£
£
**£**
840
-
**840**
17,233
-
**17,233**|
|---|---|
||18,073
-
**18,073**|
||548,953
8,267
**557,220**
22,113
-
**22,113**
35,112
-
**35,112**
7,664
-
**7,664**
30,351
-
**30,351**
23,083
-
**23,083**
1,501
-
**1,501**
2,034
-
**2,034**
9,374
12,102
**21,476**
3,054
-
**3,054**
14,641
-
**14,641**
19,636
-
**19,636**
6,851
-
**6,851**
2,075
-
**2,075**
-
-
**-**|
||726,442
20,369
**746,811**|
18
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
|**Expenditure 2020**
**_Raising funds:_**
Professional fees
Staff costs
**_Charitable activities:_**
Staff costs
Agency staff
Premises costs
Repairs & Maintenance
Cleaning/laundry
Provisions
Landscaping & Gardening
Equipment
Staff training & uniforms
Registration fees
Depreciation
Office costs
**Governance costs:**
Legal and professional fees
Independent Examiner’s fee (including £250 for
accounting services)
Trustee Indemnity Insurance|Unrestricted
funds
Restricted
funds
**Total**
£
£
**£**
1,200
-
**1,200**
16,125
-
**16,125**|
|---|---|
||17,325
-
**17,325**|
||469,939
-
**469,939**
25,913
-
**25,913**
28,204
-
**28,204**
16,764
-
**16,764**
29,535
-
**29,535**
26,057
-
**26,057**
2,592
-
**2,592**
-
6,895
**6,895**
4,708
-
**4,708**
2,388
-
**2,388**
15,232
-
**15,232**
16,461
-
**16,461**
1,843
-
**1,843**
2,352
-
**2,352**
922
-
**922**|
||642,910
6,895
**649,805**|
## **6. Analysis of staff costs and trustee expenses**
|Wages and salaries
National Insurance
Pension costs|**2021**
2020
**£**
£
**540,083**
458,826
**25,738**
20,146
**8,632**
7,092|
|---|---|
||**574,453**
486,064|
No employee received remuneration in excess of £60,000 per annum.
19
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
The key management personnel of the charity comprise the trustees, the manager & deputy manager, Trustees receive no remuneration or other benefits from the charity. The remuneration of key management personnel for the year, including pension contributions, was £58,593 (2020: £54,274). No Trustee received any remuneration or reimbursed expenses in relation to their role as Trustee to the organisation.
The average number of persons employed by the charitable company during the year was 37 (2020: 35)
## **7. Tangible fixed assets**
|**Cost**
At beginning of year
Additions
Disposals
At end of year
**Depreciation**
At beginning of year
Disposals
Charge for the year
At end of year
**Net Book Value**
**At 31 March 2021**
At 31 March 2020|**Freehold**
**property**
**£**
**Furniture,**
**fittings &**
**equipment**
**£**
**Total**
**£**
19,157
180,474
199,631
-
9,988
9,988
-
(1,675)
(1,675)
19,157
188,787
207,944
2,271
47,282
49,553
-
(685)
(685)
422
14,219
14,641
2,693
60,816
63,509
**16,464**
**127,971**
**144,435**
16,886
133,192
150,078|
|---|---|
20
Shirley Old People’s Welfare Committee Limited Financial Statements
for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
## **8. Fixed asset Investments**
|**Fixed asset Investments**|||
|---|---|---|
|**Listed Investments**
Market value at beginning of year
Sales proceeds from disposals
Net gains/(losses) in year/to disposal
**Market value at end of year**
**Historic cost at end of year**
Comprising:
St. James’s Place Wealth Management Unit Trusts
**Unit trusts representing over 5% of the portfolio were:**
Diversified Bond Class L
Strategic income Class L
Multi Asset Class L
UK Absolute Return Class L
**Debtors**
Trade debtors
Income receivable
Other debtors and prepayments||**2021**
**£**
2020
£
**55,860**
76,822
**(61,510)**
(17,714)
**5,650**
(3,248)|
|||**-**
55,860|
|||**-**
58,500|
|||**-**
55,860|
|||**£**
£
**-**
14,078
**-**
14,375
**-**
7,467
**-**
3,536|
|||**2020**
2020
**£**
£
**23,779**
3,717
**-**
2,883
**17,007**
6,516|
|||**40,786**
13,116|
## **9. Debtors**
21
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
## **10. Creditors: amounts falling due within one year**
|Trade creditors
Overpayments
Deferred income – advance fees
Social security and other taxes
Accruals|**2021**
2020
**£**
£
**9,425**
12,326
**-**
8,064
**25,315**
**12,153**
5,026
**13,187**
7,106|
|---|---|
||**60,080**
32,522|
## **11. Movement in funds**
|**. Movement in funds**||
|---|---|
|**2021**
**Restricted funds:**
**_Grants towards new kitchen:_**
Grimmitt Trust
W A Cadbury Charitable Trust
Richard Cadbury Trust
Roger & Douglas Turner Trust
29thMay 1961 Charitable
Trust
Baron Davenport Trust
WA Cadbury Charitable Trust
Bernard Piggot Trust
Grant from SMBC Infection
Control Fund
Grants from SMBC Rapid
Testing Fund
Total restricted funds
**Unrestricted funds:**
General funds
**Total funds**|**Balance**
**At**
**beginning**
**of year**
**Income**
**Expenditure**
**Gains on**
**investment**
**Transfers**
**Balance**
**At end**
**of year**
£
£
£
£
£
£
500
-
**500**
1,000
-
**1,000**
500
-
**500**
2,000
-
**2,000**
-
7,500
-
**-**
**-**
**7,500**
-
6,000
-
**-**
**-**
**6,000**
-
1,000
-
**-**
**-**
**1,000**
-
750
-
**-**
**-**
**750**|
||4,000
15,250
-
**-**
**-**
**19,250**
-
36,287
(18,098)
**-**
(18,189)
**-**
-
8,500
(2,271)
**-**
(6,229)
**-**|
||4,000
60,037
(20,369)
**-**
(24,418)
19,250
346,261
699,675
(744,515)
**5,650**
**24,418**
**331,489**|
||**350,261**
**759,712**
**(764,884)**
**5,650**
**-**
**350,739**|
22
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
Restricted funding has been raised towards the costs of the kitchen refurbishment which was delayed due to Covid-19 and has taken place in June 2021.
Transfers in relation to the Covid-19 grants relates to support for lost income due to keeping rooms free for staff accommodation, testing & visitor purposes.
|**2020**
**Restricted funds:**
Grimmitt Trust
W A Cadbury Charitable Trust
Richard Cadbury Trust
Roger & Douglas Turner Trust
In kind donation for ‘Magic Table’
Total restricted funds
**Unrestricted funds:**
General funds
**Total funds**|**Balance**
**At**
**beginning**
**of year**
**Income**
**Expenditure**
**(Losses)/ga**
**ins on**
**investment**
**Balance**
**At end of**
**year**
£
£
£
£
£
-
500
-
**-**
**500**
-
1,000
-
**-**
**1,000**
-
500
-
**-**
**500**
-
2,000
-
**-**
**2,000**
-
6,895
(6,895)
**-**|
|---|---|
||-
10,895
(6,895)
**-**
**4,000**
300,099
709,645
(660,235)
**(3,248)**
**346,261**|
||**300,099**
**720,540**
**(667,130)**
**(3,248)**
**350,261**|
## **12. Analysis of net assets between funds**
|Fixed assets
Current assets
Current liabilities
Total funds
Fixed assets
Investments
Current assets
Current liabilities
Total funds|Restricted
funds
Un-restricted
funds
**2021**
**Total**
£
£
**£**
-
144,435
**144,435**
19,250
247,134
**266,384**
-
(60,080) **(60,080)**|
|---|---|
||19,250
331,489
**350,739**|
||Restricted
funds
Un-restricted
funds
**2020**
**Total**
£
£
**£**
-
150,078
**150,078**
-
55,860
**55,860**
4,000
164,781
**168,781**
-
(24,458) **(24,458)**|
||4,000
346,261
**350,261**|
23
Shirley Old People’s Welfare Committee Limited Financial Statements
for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
## **13. Operating lease commitments**
|The total future minimum lease payments under non-cancellable operating
leases are as follows :
Expiring:
Within one year
Between two and five years
In more than five years|**2021**
2020
**£**
£
-
-
-
-
81,792
94,061|
|---|---|
## **14. Controlling Interests**
The charity is controlled by the trustees.
## **15. Related Party Transactions**
There were no transactions with related parties during the year (2020: None).
24
Shirley Old People’s Welfare Committee Limited Financial Statements for the year ended 31 March 2021
## **Notes to the financial statements (continued)**
## **16. Comparative Statement of Financial Activities for 2020**
|**Income from:**
Donations and legacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
Net losses on investments
**Net income and net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Un-restricted**
**funds**
**Restricted**
**funds**
**Total funds**
**£**
**£**
**£**
8,319
10,895
**19,214**
701,277
-
**701,277**
49
-
**49**|
|---|---|
||**709,645**
**10,895**
**720,540**|
||17,325
-
**17,325**
642,910
6,895
**649,805**|
||**660,235**
**6,895**
**667,130**|
||(3,248)
-
**(3,248)**|
||**46,162**
**4,000**
**50,162**
300,099
-
**300,099**|
||**346,261**
**4,000**
**350,261**|
25