SHIRLEY OLD PEOPLE'S WELFARE COMMIThEE LIMITED (a Company Limited by Guarantee) Trustees. Report and Financial Statements for the year ended 31 March 2022 Registered Company number 09364967 Registered Charity number 1160863 ¥ABJ2XRU5" A13 11233 COMPANIES HOUSE
Sbirley Old People's Welfate Committee Limit¢d Financial Statements for the year ended 31 MaTch 2022 Contents Page Report ofthe Tnjstees 34 Statement of Trustees. responsibifitles Report of the Independent Examiner io Statement of Flnartcial Actf7ties {incOrp(tilan Income & EXwditU Account) li 12 SLltement of c35h flows Principal Accountir Polides 14-17 Notes to the finarwl ststements *7-25
Shirley Old People's Welfare Comllllitee Limited FiTwi¢iaL Statements for the year ended 31 March 2022 Report of the Trustees . The Tru5tee5 are pleased to present their annual Tntst rewt together with the financial statements of the chaTitable company for the year eNled 31 March 2022. whith are also prepared to meet the requirements for a dirertorf report and accounts for Companie5 Act purposes. The financial statements compty with tr Chayities P£t 2011. the Cornpanies Art i(X%, the Memorandum and Articles of Association. and Accounti ar Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Starxlard applicable in ihe UK and RepubfK of ITelarMJ IFRS1021 Iukmlated l January 2019}. The main obiertive oftbe charity as set out in the Eoverning documenL 15 in the public benefrt.to provide and maintain a cafe home forthe elderf. home 45 a Substantial building situated in its own quiet grounds wilhin asOnable walkin8 (ristan of shopping amenities at Shirley. Solihull. West Mldlands. The current number of residents who can be accommodated is twenty apd the principal source of fvnding remains the fees paid by or on behalfof. the residents. The trustees are not only COnrned with the fab and sufft>undiry of the home but also in providing a.home from home. environment for Its residen This tan onty be athieved by the best efforts of the Manager and staff. The charity 15 ft)rtunate that the 1me is staffed by a con5cientiDUs group of people who do their most to deliver the.home from trK)me- enviroNnenL There ha¥* been no chan8e5 durin8 the year in the main objective of the charity. The board of.trustees have complied with the duty of the Charities Act 2011 to have due re8ard to the Charity Commission's published general and leVaTht sulFsertor guidance concernin8 the operation of the Public Benefit requirement under that acL 12021- Paawch 2022 In common with many other organisations in the UK ourarti¥itRs and achievements for the year April 2021-Mèrch 2022 have continued to be severety fimiied by the worldwide Covid pandem•c. LockdowTr tontinued until well into the Spring 2022. by whith time we were able to open again to a limited numberofviytors all of wlx)m had to be teAed to sh(Mf tly were nol infectiOU5 before being allowed in. Thanks to the Vigilan of our Manager and her Staff. Ellbeth House remained free of infection.
Shirley Old Pp]e'S we cornntte¢ LimiteAI Financial StatemeDts for the year ended 31 March 2022 Report of the trustees (continued) As everyone in the country had been asked to stay at home. the management committee was unable to rneet in person so the monthly meetings were conducted virtually using Zoom or Skype until October 2021 when circumstances had aered and it was considered safe to meet in person. Since Ihat time. the committee ha5 met face to face. There have also been quarterty meetings with our accountant to d1Xu the financial and b(etsry aspects of funning the 1me to ensure we have an efflcient operation We currently have six voluntary tntstees, Mr Paul ftyer and Mts Sheela8h Lwwere wekomed to the commrttee in knuary 2022. Although extemal activities and entertainrnents forour residents were unable to take pla due to the pandemic. our in-IM)use activit Co-ordinator and other staff members arranged stimulatin8 and entertaining sessions on a daity basts forthem but sadly. families were unable to attend. The itchen instsllati(>n whith had to be mwned due to hxkth)wm. 0s finalty completed in Septernber 2021. Havlng obtsined the necessary planniTrd pemiissMM for 1mprobnts to the dining room. loft space and frontsge, from S.M.8.L. the local council. work to improve and extend the dining room was ompleted in Ortober 2021. As many ofour residents now have mobility issues and need to use walking frames or wheethirs. the extsa spKe afforded by the extension has improved the safety and comfort for everyone. The farnity of one of our sIdentS offered to Wlde a rdeTr buildi. Afterdis¢u55ion it was decided to buy a wooden "dwletr with added storage rooffl to the side. Thiswas dufy installed and water and electricitywill be added. It Is hoped that the residents. families and friends will make good Use of this very pleasant extra 5p in ourattracti¥t gardens. £er the last year we have been able to cary maintenance to Elizabeth House. both internal and external. Many rooms and public areas of the home have been redecorated and bed5 have been refrtted I improved a5 tly have become available. Two large trees bre felled in our8rounds as our inr5 fett tly wefe detrimentsl to the safety of the building.The local (ounol. WIK) OWTr the land adjacent to ours. also examined. trimmed and treated other trees near to dizabeth House. whith tly cottsidefed to be in need of wor In April 2021. the owrrof a buildirvd whose landioins th* of Elizabeth House, erected a brick building. without planning consent whith severety restricted the outh)ok from several of our bedroorns. A5 a committee we brought the councifs attention to the Work and after many month5 of appeals. in Ortober 2021. the buildi was demolished.
Sbirlry Ojd People's Welfare CoLnmiltee Limi1 Financial Statements for the year ended 31 March 2022 Report of the trustees (continued) The trustee5 have undertaken an org01 progrnmme to improve ow marketin& Websi and bid- writing. A mayketing experL a welMite designer and a bi&writer have beefi working with us. Unfortunately. due to tP* age of our residents. we (msionally have empty rooms and due to Covid, we have been unable to fill them. howeveras the paThlemic ease& hope to xhleve maximum ottupancy in the foreseeable future. Thanks to the contlnvation of fin¢la1 ¢ontrots and constsnt Monitori of them. 8i¥en the very difficult tradi situation overthis 12 month peri(. we have had a 5atisfartory year. Income for the 2021122 financial year amounted to £781.387 12020121: £759.712) which the Trustees have conduded is a positive result given that the home was underoccupied for much of the year. This was in part a result of general cOnrS from guardians and familie5 around putting their loved ones into a care home shortty after the peak of the Cov+d-19 pandemic. Income from residen fee5 increased from £674.177 last year to £684.120 in this reporting period. However. this does not consider difficult decisions that had to be made to increase room rental to rellect ihe spiraling costs of utilities as well a5 the increase in the national minimum wage. When considering thi5. there was feal temis dedine in occuTr and therefore residents. fees year on year whith isn't necessarity reflerted in these fs. There is no doubt ihat thi5 yearfs financial perfOrnIan would not have been as positive without having received Covid-19 grants from the local 3hority. Solihull Metropolitan Borough Council. as well as genefOUS grants and donatton5 from Charitable Trusts that have enabled us to improve the home and its facilities for residents. Totsl grants and donation5 receNed this year amount to £97,25412020121". £85.498). Expenditure forthe yearamouTrted to £749,85312020:21: £764.8841. Notable expenditure includes staffing costs of £548.467 and premises costs totalin8 £40.013. A full breakdown of expenditu is induded on pa8es 18 and 19 of these accounts. At the end of the financial year. reserwes Ireased to £382.273 (2021121". £350.739}. Thi5 is mainly as a result of capital experKliture incurred throu8hout the year amountine to £75.242 10 improve the home including the extension of the dining rt)om & a new kitchen. RESERVES POUCY It is the policy of the Charity to nmintain separate resep4e fvnds for specific purposes. Tangible fixed assets. whith indude the freehold property. futures. fittingsand equipment. amount to £198.545 and are not regarded as part of the reser¥es available for di5tributK>n. The general reserve is maintsined
Shirley Old People's We]fare Commitke Limited FinaD¢ia] Statements for the y&qr ended 31 March 2(T22 Report of the trustees (continued) to match finaTr¢ial commitments and overheads to cover fluctuations in income during the year. which provides a ltherfor unintemjpted ser¥Ke Asat 31 March 2022 free reserves. bel un-restritted funds less fixed a55ets. arnounted to £173.242 12021122: £187,054). It s theTntstees' poliry to maintain free reserves equivalent to between 3 and 6 monthscore running costs which amotsntsto arouftd £5Sk per month or £330k for 6 months. which is within the agreed policy. With Covid and most of the problem5 it I0. hoFthIlty behlnd us. life at Elizabeth House has slowly been returnlne to Mrn1. Free v•sitif% is now wekoff with resKlentsddW>ted to be able to See their familie5 more often. Our Artivities Co-ordinator has continued to maintsin a full prograrnrne of artr¥itses for ow Tesidents who ve been enioying art. MUSK. movement each aftemoon. The ever-N)pular visits by children from the nearby NurserySdMx>l have resumed to e¥try0.5 pleasure. youn8 and old realty enjoy each othees company. The Friends of Elizabeth House have also been able to resyn their fwdTaiSin& the resultsof which go towards paying for the weekly vistts of Pfofessional entertainers. to local atirartions such as garden centres. farnis and to pubs for the occasio1 lunch. There have even been ¥iSbts from alpacas and ponres in the Ioufv. The trustees have Wofked alongside a bid writer to try to raise funding for larger projects wsthin the home. The new professional kitchen was finalty instslled in June 2021 after delays brought on ty Covid and is now fully operational and efforts to raise mowi to extend the din•r¢ room be8an. Thanks to very genemus grnnts from a local trust fvnd a1 SMBQ the dining room is now large enough to easily accommodate our residents and aTrygue5ts safely. Funds have a150 been raised to pay for a much improved ar extended entrance area to the home which i5 nearing aMnpletion.The new roL¥n can be used as a comfortable reception / meeting area and overflow area from the main lounge and thanks io the creation of a large double width door beeen the new area and difti room it can be made into a very large Sp for entertaimDts. attivittes. Christmas parties etc. Thoughts have now tumed to the next large projects essential io keepire ElIzalth House comfortable and safe for (wr ressdents and staff. The tntstees have decided that the present residenf s lounge is now too small for their comfort and safety and needs to be extended. Plans are undenvay to consult an architert to draw up plans prts)r to submission to the lot31 planTrir department for appro¥al. The bid wriler has begun to forniulate the rSSary wording and amass a list of possible donots to ask forfinancial help. it is hoped that may be able to commence within the Trext 12 months. An account has also tjeen set up with Just Giving to try to Taise furlT* for Thller projects that the truslees would fike to complete, a stairfrft to take resKlents to the first floor. new blinds and curtains and new thermostatic ¥afves ITMVSI on all radiators to try to reduce our fuel usage.
Shirley Old People's Welfare Committee Limilcd Financial Statements for the year ended 31 March 2022 Report of the trustees (continued) As a not-for-profrt charity. Elizabeth House is reliant on generosity and kindness of outside trusts and fund raisers to be able to maintain standards within the home ar the tn[eeS are very aware of the debtof gratitude owed to these generous benefrJctors. STRucfuRE. GOVERNANCE AND MANAGEMErir The Charitable Company is 8ovemed by its Memofandum and Articles of Association. The charity was incorporated on 22 December 2014 and was registered a5 a charity on 12 March 2015. Recrultment and app of tntstees New Tntstees are retruited at the invitation of the current trustees and are appointed as Trustees when such appointment ha5 been approved by exisling Trustees. No limit is placed upon the period f trusteeship once a trustee has been appointed. The charity is actively seeking to recruit new trustees. Indurtion and tAinin8 of new trustees providedwith all necessary informatM)n which wiwenatrfethem to woperfyfithll tlw rdea5tru5tee> The activitiesof the tharity are steered by the board of trustees and executed and administefed by the Senior management team. RegulaT meetires take plxe between the key management personnel and the Trustee board which are officiallv mined and rrf(wded confidentially on file. ArraMentsforsettln8 payforkeymanagement personnelare made bytheTrustee board and whe necessary with the professional support and recommendation of HRtonsultants. Annual benchmaTking is used to help deten1 decisions being made in rel)t•on to all staff remuneration.
Shirley Old People's Welfare Committee Limited Financial Statements for the Year ended 31 March 2022 Report of the trustees (continued) REFERENCE ANDADMINisfRATIVE INFORMA7K Registered name: 'Shirley Old People's Welfare Committee iimiterf is the name under which the charity 15 regIsted. although tt t5 known locally a5'Elizabeth House.. Rezistered Company Nml 09364967 1160863 Tee5/01rertor. G R Ward. FEWard C D McNidder MAMO SM [er (appointed 11 January 20221 RP Dyer (appointed 11 January 2022) Joanne aarke-care Home Manage Natasha Grinnell- Deputy Care Home mager Registered Office: Elizabeth House 77 Elizabeth Grove West Midlands 690 38X Independent Examlner. Karen Hanlan Independent Examiner Lirnited I Saracen Close Ettington CV37 7SZ Uoyd5 Bank Pk PO 8ox l(MJ) At)dover 8XIILT Approved by the Board and signed on its behalf ty: Carol McNidder Treosurer Oate: 16 December 2022
Shirley Old People's Welfare Committee Limited Finaticial SL4tements for the year ended 31 March 2022 Statement of Trustees, responsibilltles The Trustees are required to prepare financial ststements for each financial year which give a true and fair view of the stste of the affairs of the charitsble company and of the surplus or deficil incurred by the charitable company forthat year. In preparing those financial ststements the trustees are required to= select suitsbje accowiting policies and then appty them consistentlw, make judgments and estimates that are reasonable and pnthnt: state whether applitable UK account•ng standards have been followed. subject to any materia 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 char¥tsble Company will continue to exist. The Trustees have overdll responsibility for ensuring thai the chafitsble company has an appropriate system of controls. financial and otherwise. The Tnjstees are responsible for keeping proper accounting records which disclose with aSOnable accuracy, at any time. the financial position of the tharitable company and to enable them to ensure that the financial statements compty with the Companies Act 21X)6. are al responsible for safeguarding the a$5ets of the charitable company and hence for taking rea50nabJe steps for the PventIon and detertion of fvaud and other irregularitie5.
Shirley Old Pcoplc's Welfate Committee Limited Financ?ai Statements for the year ended 31 March 2022 Inde Wel endent Examinerfs Report to the Trustees of Shirfey Old People's re Committee (he CompanV) I report to the chafity tru5tee5 on my e¥amination of ihe accwnts of the Company for tl year ended 31 Marth 2022 which are set otrt on pages 11 to 25. ' ResponsllAlltles and l)as15 of report As the charity tDJstee5 of the Company {and also its dirertows for the Pufposes of company lawl you are responsible for the pparatIOn of the accounts in ac¢ordance with the requirements of the Companles Act 21116 I'the 2(1)6 ACVI. Ha¥in8 Satisfied myself that the a¢¢ounts of the Company are not required to be audited under Part 16 of the 2(VJ6 Ad and are eligible for independent examination. I report in respect of my examination of your thaT1S atcounts as carried out under section 145 of the Charities Act 2011 1.the 2011 Acfl. In carrying out my examlnation I have followed the Dlrections 8r¥en by the Owity C(ffinlQn under sedirn 14%5Kbl of the 2011 Since the Cornpanrfs gros5 bncorne emteeded £250.(MXI your examinw must be a member of a body listed in seciion 145 of the 2011 Art. I confirm that l arn qualified to undertake the examination because l am a member tsf the Institute of Chartered Accountsnts fin England and Wales. whtch 15 one ofthe listed bodies. I have tompleted my exarnination. I conffim) that no matters come to my attention in con1ction with the examination glving me cause to Ilie¥e.. 11 accounting records were not kept In respect of the C(xnpanyas required bysection 386 ofthe 2(106Art; or 21 the accounts do not%COTd with those rettyds". or 31 the ac¢ounts do not complywilhthe a¢¢ounlrt ruements0fsecl1on 396 ofthe 2LIJ6Aci otherthan ary requirement th the accounts live a 'true * faÈr vie4 vthith is not a matter considered as part of an Independent examrftation. or 41 tke actounts hab not been prewed in accOrdar• with the meth¢$ and princs ofthe Statement of Recommended Practice for accountirv4 arvj reporti1 by drTIleS applicable to tharrties preparing theiraccounts in ac£ordan with the Financial Reportir*5tsndard applloblein the UX and Republic of Ireland (FKS1021. I have r)0 corM$ and he come atyoss mattW5 in conneW with ihe ex•ninailL to whkh attentlon should be drawn in this report in ¢)rder to enable a proper unde¥standiNd of the accounts to be reached. Karen Hanlan, Member of Institute of thartered Ac¢ountsnts En8land & WalEs Karen Hanlan Independent Examiner Ltd I Sara¢en Close Ettington CV37 7SZ Date:1611212022 io
Shirley Old People's Welfare Committee Limited Financial Statements the year ended 31 Marth 2022 Statement of Financial Activities (Includin8 an income & expenditure account) Total nds 2021 funds funds 2022 funds 2022 Donations and le8acies Charitable activities Investments 11.022 684.120 13 86232 97254 85.498 WI.120 674.177 37 Total Income 695J55 86232 781,387 759,712 Expendliure . Raising funds Charitable activities 17,679 705.824 I779 732J74 18,073 746.811 26.350 Total eXlire n3.503 26350 749A53 764 Net galns on investTrts Netlexpendituvev Inc(•me and net ffl¢)vement in funds Transfer ol fun& Recontlliatlon of fvnd>" 5,650 (28,3481 59 68.646 {68.646) 31S34 478 Total funds brought forward li 331.489 19.250 350.739 350.261 Total funds carried lornavd 371.787 IOM6 382273 350.739 All income and expenditure derives from continUid activities. The ststement of finantial artivities includes all yin5 and105ses reco8nised in the year. li
Shirley Old People's Welfate Committre Limited Financial Statements for the year ended 31 March 2022 2022 2021 Balance sheet Tangible assets 198Y5 144.435 Debtors Cash at bank and in hand 31556 210m2 241578 40.786 225.598 266,384 Currert Llabilttles Creditors: 3mount5 falling due within one year (57.850) 160.080) Net current assets 206.304 Total assets less current Ilabilhles 382273 350,739 382273 350,739 Fund5 of the Charity: Restrirted Funds Unstrirted funds Total charity funds io io IOA86 371.n7 382273 19.250 331.489 350.739 Reglstered C+)fflpany rwrnber". 09364967 The accompanwr¥accounting 1CleS3nd notesfonn partof these $terneD For the ye¥ ended 31 March 2022 ts ojrnpany wasentitkd to exemptm from aud under 5ectw)n 477 of the Comp3ns t 2006 1in8 to sffl companles. lal The memt%r5 have required the tharitsble comparry to obtaln an audtt of 6ts financkl ststements for the year In question inaccorda•cewith section476of the com$Act 2(#)6-h)wor. inaccordarKewith se(n I450f Charilies . Art 2011 tfi)Kill sMements been exaftNred tyan indew#kntexamlrnrtkne re1 appearson p38e 10. Ibl The directorsltru5tee5 a(kre thetr re5W)h5it#lity lor compfylry T the wiireffents of the Coryarie5 Act wtth respect to ?ccounting recordsand the prepaTrtion of ac£ftt Approved bythe Trus¢eesand gEned on their beha¥ br. Carol Mc Nidder. Oate.. 1611212022 12
Shirley Old People's Welfare Committee Lin)itcd Finall¢ial Statements for the year ended 31 MaTch 2(Y22 Statement of Cash Flows 2021 Cash flows from operntlng actlvltles: Cash generated from operations 59.653 10.310 Net cash provided by operatiNd activities s93 10,310 Purchase of tangible rd assets Proceeds from sale of red asset investments Interest received 175,24Z) {9.988} 61.510 37 13 Net cash lusedl/gained by investin8 attivit*s 175.229) 51.559 Change in cash and ash eguivalents in the year 115.5761 61,869 Cash and cash equivalents at beginning of the year 225,598 163.729 Cash and ash equlvaleftts at end of the yeaT 210,021 125.598 Reconciliation of net income to net tash flow from operating artivities 2021 Net ificome for the year (as perthe Stateffl of Knancial P£ti¥itses) Adjustments for. Depreciation charges Gains on investments L055 on disposal of fixed assets Interest received Decrease/llncrease) in debtors {Decreasel/lncrease in creditofs 31 478 14,641 15.650) 113) (371 9230 127.670) {2230) 27.558 Net osh provlded by operatlng actl¥ltl S953 10.310 13
Shirley Old People's Welfare Committee Limited Financi81 Slalements for the year ended 31 March 2022 Principal accounting policies The principal accountiThJ policies adopted. 1tynntsand key sourosof estimation unortainty in the preparation of the financial statements are a5 foll Ststus of the company The charhable company Is limlred by guarantee and does not have shafe capitsl. The liability of members is limited to £1 per rnember. Any surplus on winding up is to be donated to a charity whose objerts a of a similar ftaiure. Basis of preparati(•n The financial statements have been prepared in accordan wlth Accouftting and Reporting by Chaiities: Statement of ftecornrnended PrartKe applicable to charit*5 preparir¥d their account5 ifi accordance with the Finanual Reporting Standard applicable in the UK a1 Republic of Ireland IFRS1021 (updated l J?nuary 2019)- (Charities SORP IFR51021). the financial Reyting Standard applKable STr the UK and Republic or Ireland {FR51021 and the Companie5 Act 2(J)6. Shirley Old People's Welfare Committee Limited meets the definition of a public benefit entity under FRS102. Assets and liabli ities are initially recognised at histoital cost or transartion value unless otherwise stated in the relevant accounting policy notel5)- Going ¢oncern The financial statements have been prepared on a goire corKem basis whith assumes that the Charitable Company will continue to operate. The validity of thss assumption is dependent upon occupa/ levels remalning high and on donations and grants towards Specif projects. The Charitable Companrfs current budget shows that it will be abk to operate in the foreseeable future. Based on this understandi. the directors believe that it rernains appropriate to prepare the financlal "statements on a going conrn bas•& The financial sratements do not include any adjustments. which would resutt from the basis of preparation being inappropriate. Funds General accumulated funds are unrests1rt fvnds Wdllable for BerdI purposes and include fund5 designated fof a particular purpose" the use of such funds rema•ns at the discretion of the trustee& Restflcted fundsarefundssubiert to ConditnS imposed bythedonororby sternOf the appeal . under which the funds are raised. The restrictive conditions are birrfliTrg upon the Charitable Company. Funds raised for the purchase of capitsl items are transfeffed to unrestricted fund5 once the item5 have been purchased, provided the donor has not placed fvrthef restritttons over the use of the assets concerned. 14
Shirley Old People's Welfate Committce Limited Financial Statements for the year ¢nd¢d 31 March 2022 Principal accountlng policies (continued) Income rewnition polldes Itern5 of income are recognised and included in the accounts when all of the following uiteria are met: The charity has entitlement to the funds: any perfoimancecondit#>nsattached to the itefflls) of Income have been Met orare fultywlthln the control of the thaiity. there 15 sufficient certainty that receipt of the income is consKlered probable: and the amount can be measured reliably. For legacies. entitlement 15 taken as the earfier ofr. the date on whtch the chafity is aware that probate has been granted: the estate has been finalised and notifKation has been made by the execOr{s) to the Trust that a distribution will be made: or when a distribution is reoived from the estste. Receipt of a legaoi. in whole or in part. is only considered probable when the amount can be measured reliabty and the charity has been Mtified of the executorfs intention to make a distribution. Where legaoes have been notified to the charity. Of the charity is aware of the gfanting of probate, and the critefia for incorne recognition have not been met. then the 1cY is a treated as a tontingent asset and dixlosed if material. Intorne received ITr advance of provision of a specified service is deferred until the Criteria for income recognition are met. Donated services or facilities are recogTrised as i1 the charity has control 0r the item, any ionditions a550Ciated with the donated item have been met. the receipt of econornic benefrt from the use by the charity of tl* item is probable and that economic benefrt can be measured reliably. On receipL 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 obtsin servites or Facilities of equivalent economic benefst on the open market: a corresponding amount is then recogni5ed in expenditure in the pemd of receipt. No amounts are included in the statement of f•nancial activit lorservices donated by volunteers. Interest on funds held on deposit are induded when T1Vable and the amount can be measured reliably by the Charity, this is nornially upon notification by the bank of investment manager. 15
Shirley Old People's Welfare Committee Limited for the year ended 31 March 2022 Principal a¢countSn8 pollcles (continued) Expendfture and irrecowrable VAT Expenditure is recognised On there is a legal or con5trutti¥e obligation to make a payment to a third party, it is probable that settlement will be requited and the amount of the obligation tan be measured reliably. Expenditure is classified under the following activity headings: Costs of raising fvnds cornprise fees paid to professN)nal fundraisers along wilh staff costs associated wtth making funding applicatiOTrS. Expenditure on charitsbte activities indudes the costs of running the care IK)me and its activitie5 undertaken to further the pu of the dwrity and their as9xiated support and goverTrance costs. Irrecoverable VAT is charged as a cost against the actilfity for which the expenditure was incurred. Ta•ble red assets Depreciation is provided on all assets except for land at a rate calculated to write off the c05t of tl assets as follows: Freehold Property Fixtures. frttings and equipment 2.5% reducing balarfe IO% reduc1 balance Fixed assets a capitslised when their (osts exceeds £5. Investments were professionalty valued prior to disposal and were induded in the accounts at their market value. Realed and unrealised gains or losses on investment a55ets as recognised in the Statement of Financial Activity- DebtOTS Trade and other debt0 are recognised at the settIennIaYrt due afteranytrade discountoffered. Pfepayments are valued at the amount prepaid after tsking account of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand indude5 (ash and short terni hehty liquid investments with a short. maturity of three months Of less from the date of acquisition or opening of the deposit or similar accounL Credltors and provls Creditotsand prov•sIonsa recognised the charity hasa present oblallOn resultingfrom a past event that will probably result in ihe trnnsfer of fvnd5 to a third party and the arnount due to settle the obligation can be measured Of estimated reliably. Creditors and provisions are normally reco8nised at their settlement amount after allowing for any trade discounts due. 16
Shirley Old People's Welfa¥e Comnjittee Limited Financial Ststements foT the year ended 31 Mar¢h 2022 Principal attounting polkles (continued) Taxailon a registered charity no provision is considered neSSary for taxation. The charitable company opefates a defined contribution pension scheme and new employees are able to join the scheme operated by Nest. The assets of the schemes are held separatelyfrom those of the charitable Company in independentty admiftistered funds. The pensions cost tharge repsents contributions payable by the critable company. Notes to the finanaal ststements l. Donation5 and lryKie5 2022 2021 unstrICted donations: Donations General granls from SMBC for Covid support Furlough grant receipts 10008 2.531 14,882 614 11,022 25.461 Restricted donations and gfants: Grants from Charitable Foundations Infection Contml Fund Grants from SMBC Rapid Testing Fund grants from SMBC workfo Recruitment & Retentn grant from SMBC 35.(XYO 12,305 27589 11.338 86232 60X)37 15.250 36.287 8.500 Total donath>ns & legaaes 97254 85.498 2. Charitable adbvllles 2021 Residents fees 684.120 674,177 3. Investm¢nts 2022 2021 Bank interest 37 17
Shirley Old People's Welfare Committee Limited Financial Statements for the year ended 31 March 2iJ22 Notes to the finanaal statements (contlnuedl 4. Expendlture Unrestricted Restricted funds fund5 Total Rolslngfvth.. Professional fees Staff costs 1.225 16.454 17.679 1,225 16N54 17.679 Chorltoble •rtivitie&" Staff costs Staff Gift Vouchers A8ency staff Premises costs Repairs & Maintenan cleaninlaundry Provish)ns Landscaping & Gardening Staff training & unifomis Staff travel DBSIRegistration fees Depreciation Office costs 523.513 8.5(X) 531013 1.550 I50 6,469 25,632 40m3 10?75 2.984 3258 24.IZ6 I7 193 2.390 6.654 I1 2A93 18.646 ZZ.108 19.163 40.013 10,375 29.074 24.126 1.837 2.197 4.910 2,893 18,646 22.108 ie8al and professional fees Independent E¥aminerfs fee linduding £250 for accounting services) 2,07S 705,824 2.075 26.350 732.174 18
Sbirley Old Pple'S Welfare Commitr Limited FinaDcAai Statem¢nts for the year ended 31 Mareh 222 Notes to the financlal ststements (continued) Unrestiicted Restricted funds funds 2021 Total Rotslngfvnds.. Professional fees Staff tosts 17233 18,073 17233 18.073 Staff costs gency staff Premises costs Repairs & MaintenarKe Cleaningllaundry Provisions Landscaping & Gardening Staff training & unrfornis Staff trdyel Registration fees Depreciation Office costs 548.953 22.113 35.112 8,267 557.220 22,113 35.112 30.351 23.083 1.501 30.351 23,083 1.501 9.374 12,102 21.476 14.641 19.636 14,641 19.636 Legal and professional fees Independent Examinerfs fee {4ndudirvd £250 for accounting seNices} 6,851 6,851 2.075 726.442 2.075 746,811 20,369 202Z 2021 Wages and salaries NatK)nal Insurance Pension costs 520.057 540,083 1150 25,738 8.632 548A67 574.453 No employee recehed remunefatiofi in eXS of £&),LXX) per annum. 19
Shirley Old People's Welfare CoDunittee LiDJited Financial StateJDcnts for the year ended 31 MaTth 2022 Notes to the financial statements (Cltinued) The key management pefsonnel of the tharity comprise the tTustee5. the manager & deputy manager. Trustees receive no remuneration or other benefrt5 from the chaTity. Tr remuneration of key management personnel for the year. including pension cOntributn$. was £57.373 {2021'. £58,593). No Trnstee received any remunefation or feimbursed expenses in relation to their role as Trustee to the organisation. The average number of peTh)ns empw tythe charitsble compary during the year was 4012021: 37) & Tan8lble flxed a55ets FunmtY. Freehold fittings & prnperty equlpmtnt Total At beginninE of year Additions Disposals 19.157 24.514 188.787 50.728 {4.3161 207.944 75.242 14.3161 At end of year 43.671 235.199 281.870 Depreciatlon At beginning of year 0isP05a Charge forthe year 2.693 60.816 11.830) 17.622 63.$09 11.8301 18,646 1.024 At end of year Net Book Value 3.717 76.608 80?25 At 31 Mah Z022 39.954 158.591 198.545 At 31 March 2021 16.464 127.971 144.435 20
Shirley Old People's Welfare Conunittee Limikd foT the year ended 31 March 2022 Notes to the flnanaal sLitements (continued) 2022 2021 Market value at beginning of year Sales proceeds from disposals Net gains/llosses) in yearlto disposal 55.860 {61,5101 5,650 Market value at end of ye Historic cost al end of year 8. Debtors 2021 Trade debtors Other debtor5 and prepayments 29,618 1.938 3156 23,779 17.007 40.786 9. Credltors: am¢wnts falKry due withlTr one y 20ZZ 2021 TTrde creditors Deferred income- ad¥ano fees Socral security and otherlaxes Accruals 6.173 26A79 12,189 12,609 57 9.425 25,315 12,153 13,187 60,080 21
Shirley Old People's Welfare Cornntte£ Limited Financial SLqtements for the year ended 3l March 2022 Notes to the finanaal statements (continued) io. M¢)wnent In funds At Iylnnl At end of year Income Expendlture Transfers of year 2022 Grants towards new kitchen Grants towords dining room extension.. -8aron Davenport Trust -Solihull Metropolitsn BC Grant from SM8C Infection Control Fund Grants from SMBC Rapld Testin8 Fund GTrnts from SMBC Recfuitmeni & Retention Fund Total restricted funds 19.250 119,250) (4.5141 (20.(XK)I iOA86 20,( 12.305 112.3051 27589 (2,984) 124.6051 11.338 19.250 86.232 Ill.(1} (2771 126.3501 168,646) 10.486 Unrestricted funds: General funds 331.489 695.155 (723.5031 68 646 371.787 Totsl fvnds (749A53) 382,273 Restricted funding has been raised towafds the costs of the kitchen refurbishment which was delayed due to Covid-19 and has taken place in June 2021. Funding was raised for an extenwn to the dinire room which cOmnCed in May 2021, works on this continue into the 2022-23 financial year and are experted to conclude by the end of 2022. Transfers in relation to the kitchen &dining room relate toa55et purtha5edwhich have beencapitalized in accordance with standard accounti poliry. Transfers in Telation lo the Covi&19 grants relates to support lo income due to keepin8 fooms free fo.r staff accommodation. testing & visitor Pufposes.
Shirky Old People's Welfare Comllllttee Limited Financial Statements for the year ended 31 March 2022 Notes to the financial statements (contlnued) Balan At end beglnniryl Gains 4Jn 2021 Grimmitt Tntst W A Cadbury Charitable Trnst Richard Cadbury Trust Roger & l)ouglas Tumer Trv5t 29th May 1961 Charitable Trust Baron Davenport Trust WA Cadbury Cluritable Trust Bernard Piggot Trust soo i.0 2,000 6,000 1,000 750 19250 750 4.(XXI 15.250 Grant from SM8C Infectn Control Fund Grants from SM8C Ropid Testing Fund Total restricted funds 36.287 118.098} 118.189) 12.271} (20.369) 16.229) (24.418} 4.(XK) 60.037 19.250 General funds 346.261 699.675 (744.5151 5.650 24A18 331A89 Totsl fvnds 350261 759.711 1764.884) 5,650 350.739 23
Shirley Old People's Welfare Committee Limited Financial Statements for the year ended 31 March 2022 Notes to the financial statements (contlnued) Restricted un.restricted funds nds Totsl Fixed assets Current assets Current liabilities Total funds 198.545 198.545 231.092 2415n 157.850) (S70) 371.787 382273 10.486 10.486 Restricted Un-restrled nds funds 2021 Fixed assets CurreTrt assets Current liabilities Total funds 144.435 144A35 247.134 266384 {60.080) (60.080) 331.489 350.739 19.250 19.250 The total future minimum lease payments uThJer noTr ncellable operating leases are as follows: Expiring: Within one ye4r Betr4een two and five years In more.than fNe years 2022 2021 69.523 81.792 13. C41ntrollinc Interests The charity is controlled by the It 14. Related hrtyTransait There weie no transactions with related parties durin8 the year {2021: None). 24
Sbirley Old People's Welfate Collmyttee Limited for the year c[ed 31 March 2022 Notes to the flnanclal statements (continued) 15. C¢xnparati¥e Statemert of FlnaMi for 2021 Income from: funds funds f(rtal fvnds Donations and legacies Charitable activities irtvestrnents 25.461 674.177 37 60.037 674.177 37 T¢)tal income 699,675 6017 759.712 Expendlture on: Raising funds Charitable activit 18.073 726.442 073 20.369 74611 Total expenditure 744515 ZO?69 764W4 Net gains on investments Net (expendlture)IlrKome and net movemeni In funds Trnnsfets betwetn fvNIs 5,650 {39.1 2UI8 478 124A181 Reconciliation of fund& Total funds brought forward 346261 350261 T>tal fund5 carried forwa 331A89 250 350.7YJ 25