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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 1167428

THE FIRCROFT TRUST

Financial Statements for the Year Ended 31 March 2021

Tudor John Limited

Chartered Accountants and Statutory Auditors Nightingale House 46-48 East Street

Epsom Surrey KT17 1HQ

THE FIRCROFT TRUST

Contents of the Financial Statements for the year ended 31 March 2021

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 11
Consolidated Statement of Financial Activities 12
Company Balance Sheet 13
Consolidated Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 31

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Our Services

The Fircroft Trust is a local charity working in Kingston upon Thames with adults living in the community with severe to moderate mental health problems and/or learning disabilities.

Since registration in 1970, our charity has developed and now provides:

o A Resource Centre for over 90 adults who live in the local community facing mental health issues. This is a centre-based service in Kingston upon Thames which provides a range of activities designed to support people to manage their illness, learn new skills and improve their quality of life.

o The Fircroft Trust provides Residential Services in the form of

o Residential Care for 8 adults with complex needs called Privett and

o Supported Living for 15 tenants at Firs Court in Chessington accommodated in five houses: Maple, for adults needing more hours support and four smaller cottages (Cherry, Oak, Beech and Holly) for adults needing less support.

o Man Shed - A workshop style environment for men with mental health challenges or who are at risk of developing a mental health issues due to social isolation.

o Listening Café - A telephone, email and drop-in service for people struggling to cope.

Our Aims:

OUR VALUES: Respect, Transparency, Support, Trust and Empathy OUR VISION: Improving the quality of life for everyone OUR MISSION: To support people with mental health and/or learning disabilities to live full and inclusive lives OUR CULTURE: Every person should be seen as a person first as we work to improve the quality of life for everyone we support INVESTING IN STAFF : We see staff as our main asset, and we are committed to enabling our members to thrive

Page 1

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

ACHIEVEMENT AND PERFORMANCE The Fircroft Wellbeing Hub

Early in the year, concerns arose around the fabric of the building at 96 Ditton Road, which meant that access to the building was limited. Remedial work is due to be carried out in 2022.

In addition to this, the Fircroft Wellbeing Hub has had to change the way we support the people we serve due to Covid restrictions. Initially, only telephone support was allowed, but eventually we were able to meet with people in outside environments, and, when allowed, at other venues around the Borough.

We are very grateful to the British Legion who have opened their doors for us to meet there twice a week, helping to break down loneliness and giving opportunities for friendships. The British Legion also organised a Christmas Lunch this year, which was very well attended.

Many of the people we support have also enjoyed meeting in the community together in coffee shops independently from staff.

It has been a particularly difficult and challenging time for the people we support, who already struggle with their mental health, but staff have worked tirelessly to keep in contact with everyone.

Page 2

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

While services are curtailed due to the above issues, Fircroft continues to aim:

Activities include talking opportunities (listening café), social activities (such as going to pubs, cinema, etc), learning activities (Man Shed and gardening) training (through work experience), volunteering experiences, and mental health awareness (speaking engagements).

We have received more referrals than ever and have had to start a waiting list.

Income

This service has always depended on voluntary income to sustain and develop this area of our work. However, as a result of having to close the building to the services, we have been unable to seek funding from our usual sources. This will change are we near the completion of the works when we will again be in a position to launch an appeal and approach trusts and other organisations to help us fund the new vision of what we can offer people in the community.

Looking Ahead

Together with the people we support, we will be transforming our services to make it more relevant to the community. Plans include providing more wellbeing activities and a drop-in service as well.

What People Say

“I can’t wait to get back to Fircroft again. It’s my safe place. It’s been so hard.” - someone who we support

“I’m so glad that my husband has started going to the Man Shed. It gives me a break and he gets a lot out of it” - the wife of someone we support.

“I am so glad I can call you whenever I want – it helps me feel less lonely” – someone we support.

Page 3

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

Residential and Supported Living Services

Firs Court provides care for adults with learning disabilities and those with complex needs. We are delighted that

Privett House is a Registered Home for nine people with complex needs requiring 24/7 support. It has a lift, specialist beds and en-suite facilities.

Maple is Supported living to six adults.

Privett residents and Maple tenants each have their own key worker who provides one-to-one emotional, personal and social support.

We also run four supported living houses for adults who are more independent, but who have the benefit of being able to call on the main house should the need arise.

Everyone is encouraged to make their own choices and have a say in the running of their own homes. We continue to help people develop and maintain independent living skills.

Covid-19 and the Residential Services

Over the year, with Covid we had to work in a creative way to ensure that the people we serve were able to cope with the strict guidelines and restrictions. Staff worked tirelessly to ensure that everyone was shielded by providing opportunities to meet remotely with family and friends.

Staff also organised various entertainment events that was able to break up the frustration everyone felt during the first lockdown. This was very successful in keeping everyone safe from the virus following infection control protocols at all time.

On the second lockdown, one person became ill with mild Covid. Staff and tenants are tested regularly as per guidelines.

Page 4

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

Income

Our accounts show a small dip in income over the year. This is primarily caused by vacancies not being filled. This is now being addressed.

What People Say

“My brother’s life has been transformed since moving to Firs – I’ve never seen him this happy and busy” – sister

“Staff helped me to speak to my friend when we were in lockdown. I really miss not seeing her” – person we support

Page 4

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

The Fircroft Trust Shops

Fircroft Trust (Trading) Ltd ran our two charity shops in Surbiton and Tolworth which sell a wide range of donated items, including furniture and electrical goods. The profits are covenanted to the charity and provide much needed funds. They also serve to advertise our activities to the local community.

One of the objectives of the shop has always been to provide opportunities for people we support to volunteer in a safe and encouraging environment. The lockdowns had had an enormous impact on staff and volunteers, but the Manager made a point of calling everyone on a regular basis and meeting up where possible.

Sadly, during the pandemic, we needed to close our Surbiton shop as it was not able to provide a Covid-safe environment. Our Tolworth shop opened as soon as guidelines allowed. In order to provide quarantine for the generous donations from the public, we were able to make use of another property.

What People Say

“I love my job at the shop. When we were closed, I felt very lonely” – volunteer “The busy-ness of the shops helps my mental health and staff are so supportive” – volunteer

Page 5

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

Summary

While this past year has been a very difficult one on many levels, it has also given us the opportunity to step back and re-evaluate what we do and we look forward to implementing services that will be even more relevant to the people we support.

I would just like to end this report by saying, on behalf of all the Trustees, that we are extremely grateful to all our staff and volunteers for their amazing hard work and care they have shown over the last year, and in particular during this strange Covid year. We could not have done this without them.

Olga Bowey Cockburn Chairman, January 2022

FINANCIAL REVIEW

83% of the income generated by the parent Charity is in respect of the provision of residential care services for Firs Court. The remainder, 17%, is income for the Well Being Hub, a small amount of which relates to attendance fees charged with the hub being dependent on additional support generated from approaches to Trusts, Companies, Individuals and Legacies.

Our greatest need, core funding, remains challenging and the Communications team work hard to find new and innovative ways of securing this income together whilst balancing the needs of Funders.

Total reserves of the parent Charity have decreased to £4,412,854 of which £7,360 is restricted, £200,000 has been designated by the trustees for future development of the Charity including a respite bed at Firscourt along with another en-suite place and plans to redevelop the communications and technology within the Charity and £750,000 towards the costs of a project to provide a residential offering to younger adults. Total expenditure of the parent Charity in the 12 months was £1,195,674. Governance costs in 2021 were £5,500.

Our free reserves at 31[st] March 2021 were £469,394 (2020 £600,815). This decrease is a result of reduced income for the Hub both from external funding and internally generated fees along with an increase in costs primarily relating to staffing costs with a move towards paying staff the living wage.

The trading subsidiary generated a loss in the year of £1,419 (2020 loss of £12,563). The trustees are pleased with the general trading position in light of the closures required as a result of the Covid-19 pandemic and believe that the shop will be profitable going forward subject to being able to remain open during the pandemic. The shop also provides valuable volunteering and work experience for people that may need a gateway back into the working environment.

RESERVES POLICY

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should provide at least six months contingency, which are current activity levels equates to £597,837. The trustees are reviewing ways to increase the level of free reserves including generating additional income via funding applications to meet this required level of reserves.

ENVIRONMENTAL REPORT

The Fircroft Trust recognises the importance of monitoring our environmental impact and introducing simple to changes to lower lessen our footprint. This year we have expanded our environmental activity throughout the organisation by:

Page 6

THE FIRCROFT TRUST

Report of the Trustees for the year ended 31 March 2021

FUTURE PLANS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Risk review

A full risk review has been undertaken in line with the Business Plan. Trustees will implement a full risk policy to insure the charity from the unforeseen.

The Fircroft Trust Trustees

Trustees are appointed by a resolution at a meeting of the trustees as and when appropriate.

Trustees form the Management Committee who administer the charity. All new trustees and staff are inducted as and when appropriate.

New trustees are invited and encouraged to meet with their senior management and staff to gather insight into the work of the charity. The board meets monthly and there is one sub-committee covering strategy and planning that meets quarterly. A Chief Executive is appointed by the trustees to manage the day-to-day operation of the charity. Trustees who served during the year and up to the date of this report are set out on the frontispiece.

Principal sources of funding are local authorities and major trusts as per the accounts. Investments are managed by our bankers on advice as and when they arise although trustees will be looking to implement an Investment policy in the coming year.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1167428

Principal address "Fircroft" 96 Ditton Road Surbiton Surrey KT6 6RH

Trustees Mrs O Bowey Cockburn C A Huntingford Mrs M Huntingford R Fogg (resigned 31.3.21) Ms M Babey M Belton N Rajah (resigned 12.12.21) A Bailey (resigned 12.12.21)

Page 7

firtho y•rwthd31 M•Ka 2021 Tudor John Limi*d Chan¢red Accountants and Siaww Auditors Ni8htin8alc House W8 ￿$1 Stre Epsom KT17 IHQ K Harris Rt Revd Dr Richard Cheethatn DD Bishop of KingstoTh HSBC 418 Ewell Ro Tolworth Surrey KT6 7HJ Russell-cooke LLP 2 Putney Hill London SW15 6AB The m]st¢es are responsible for preparing the Report of the Trllsttts and the financial $tat¢meDts in ￿ with applicable law and UDiied Kingdom Accountsng Stand8rd5 (Unitcd Kin8dornG¢nerally Accepted Aecountin8 Practi¢¢). The law applicable to chariiies in EnglADd al￿ Wale8 the Charities Act 2011. Clwity {Accounts alld Reports) Reguiations 2(K)8 and the provisions of the deed rffjuires the trustees to prepare financial siateineThts for eath fiDancial year which give a mje atKI fair view of the state of affaits of the eharity and of the ineoming resou￿¢5 and application of resources. includiDg the incon￿ and cxpcnditurE of the charity for thai Fri(Ml. In pr¢paTll)g those fill3￿1￿l statemenls, trwee5 are wuired select suitable accounting policies aThJ then apply them consistently" obseNe the meth¢)ds and pnnciples in the ChArity SORP: rnake judgements and estimates that are reasonabl¢ and prud¢nt: ate wlth applÈcable accouniing 5taDd8rds have been followe(L subjea io any ￿terial depaTttues disclosed and explained in the financial 5tstements' prepare the financial sthtements on thc 80in8 concern basi5 unless it is inappropriate to prcsurn¢ that th¢ ¢harity will The trUs￿S are r¢spoThsible for keepittg proper accounting records which dL5close with reasonable a¢curacy at athy time the financial position of the chariry and to enable them to ensure thai Ihe financial statements eomply with the Charities Act 2011, the Charity (Accounts ¥nd ReporL8) Regula¢ions 2008 and th¢ provisions of the tThst deed. They art also rcsix)Dsible for safeguarding the a&sets of the chgrity atld hence for taking reasonable steps for the prevention ￿)d de￿tion of fraud and other irreBulaTities. Approved by ord¢r of th¢ board of trus¢es on....... Signed on Its behalf by= Mrs O Bowey Co burn- Tn￿te¢ Page 8

Report of the Independent Auditors to the Trustees of The Fircroft Trust

Opinion

We have audited the financial statements of The Fircroft Trust (the 'charitable parent company’') and its subsidiary (the group) for the year ended 31 March 2021 which comprise the consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 9

Report of the Independent Auditors to the Trustees of The Fircroft Trust

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 10

Rwt of the Indep¢ndentAuditors to the Trusttts of TheFirLToft Trnt Use of owreport This rei)art is made solely to the eharily's Iriislees, as a body, Én accordance witli Part 4 of the Cliarities IA¢¢ounts and Reportsl R¢giilations ?008. Oiir audit work has been iiiidertaken 50 that ive might state to the tyharÉty's tTU5tee5 Iliose mattel3 we are requtred to stclie to them in an aiiditor5' report and for no other purpose. fo tlie fullest extcnt permitted by law. we do not accept or a5sunie respotjsibility to anyone other than tlic Charity and the charity's trustee5 as a body, for our audit Nvork, for t]u5 report, or for the opinions we have fornied. Tudor John Limiied Chartered Accountants and Statutory Auditors Nightingale House 46-48 East Street Epsom Sur¥ey KT17 IHQ Date: ...a6.l.o.Il Pagell

THE FIRCROFT TRUST

Consolidated Statement of Financial Activities for the year ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Residential and group homes
The Wellbeing Hub
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Residential and group homes
The Wellbeing Hub
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
30,372
866,872
103,863
155,175
1,362
23,183
1,180,827
155,758
898,107
240,204
1,294,069
626
(112,616)
4,479,693
4,367,077		 Restricted
funds
£
1,700
30,001
-
20,519
-
-
52,220
-
51,143
-
51,143
-
1,077
6,283
7,360		 2021
Total
funds
£
32,072
896,873
103,863
175,694
1,362
23,183
1,233,047
155,758
949,250
240,204
1,345,212
626
(111,539)
4,485,976
4,374,437		 2020
Total
funds
£
848,867
964,790
127,787
206,762
4,544
-
2,152,750
221,593
919,047
287,426
1,428,066
(5,684)
719,000
3,766,976
4,485,976

The notes form part of these financial statements

Page 12

THE FIRCROFI' TRUST

Company Balance Sheet 31 March2021

2021 2020
Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
Notes £ £
FIXED AS ETS
Tangible assets		 12 3,406,424 3,406,424 3,437,945
Investments 13 6 6 6
3,406,430 3,406,430 3,437,951
CURRENT ASSETS
Debtors		 14 100,578 100,578 864,997
Investments 15 10,769 10,769 10,142
Cash at bank and in hand 1,387,112 7,360 1,394,472 768,067
1,498,459 7,360 1,505,819 1,643,206
CREDITORS
Amounts falling due within one year		 16 (143,827) (143,827) (141,730)
NET CURRENT ASSETS 1,354,632 7,360 1,361,992 1,501,476
TOTAL ASSETS LESS CURRENT
LIABil.ITIES		 4,761,062 7,360 4,768,422 4,939,427
CREDITORS
Amounts falling due after more than one year		 17 (355,568) (355,568) (416,453)
NET AS ETS 4,405,494 7,360 4,412,854 4,522,974
FUNDS
Unrestricted funds
Restricted funds		 20 4,405,494
7,360		 4,516,691
6,283
TOTALFUNDS 4,412,854 4,522,974

The financial statements were approved by the Board of Trustees and authorised for issue on ...25/01/2022...................... and were signed on its behalf by:

The notes fonn part of these financial statements

Page 13

TIIE FIR.CROFf TR.UST

Consolidated Balance Sheet 31 March 2021

2021 2020
Unrestricted Restricted Total Total
fnds fnds fnds fnds
Notes £ £ £ £
F A ETS
Tangible assets 12 3,428,114 3,428,114 3,463,974
C A ETS
Debtors 14 37,468 37,468 810,801
Investments 15 10,769 10,769 10,142
Cash at ban and in hand 1,405,465 7,360 1,412,825 778,307
1,453,702 7,360 1,461,062 1,599,250
CIOR
Amounts flling due within one year		 16 (159,171) (159,171) (160,795)
N C A ES 1,294,531 7,360 1,301,891 1,438,455
TOA A ETS LSS C
Li		 4,722,645 7,360 4,730,005 4,902,429
CIOR
Amounts flling due afer more than one year		 17 (355,568) (355,568) (416,453)
N A ES 4,367,077 7,360 4,374,437 4,485,976
FS 20
Unresticted fnds 4,367,077 4,479,693
Restcted fnds 7,360 6,283
TOA FS 4,374,437 4,485,976

The financial statements were approved by the Board of Trustees and authorised for issue on ...25/01/2022..................... and were signed on its behalf by:

The notes form part of these financial statements

Page 14

THE FIRCROFT TRUST

Cash Flow Statement
for the year ended 31 March 2021
2021
Notes
£
Cash flows from operating activities
Cash generated from operations
1
712,913
Interest paid
(10,710)
Net cash provided by/(used in) operating activities
702,203
Cash flows from investing activities
Purchase of tangible fixed assets
(9,942)
Interest received
742
Dividends received
620
Net cash used in investing activities
(8,580)
Cash flows from financing activities
Loan repayments in year
(59,105)
Net cash used in investing activities
(59,105)
Change in cash and cash equivalents in the
reporting period
634,518
Cash and cash equivalents at the beginning
of the reporting period
778,307
Cash and cash equivalents at the end of the
reporting period
1,412,825		 2020
£
5,759
(15,453)
(9,694)
(659)
3,893
651
3,885
(54,755)
(54,755)
(60,564)
838,871
778,307

The notes form part of these financial statements

Page 15

THE FIRCROFT TRUST

Notes to the Cash Flow Statement for the year ended 31 March 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Interest paid
Dividends received
Donated assets
Decrease/(increase) in debtors
Decrease in creditors
Net cash provided by/(used in) operations		 2021
£
(111,539)
45,802
(627)
(742)
10,710
(620)
-
773,333
(3,404)
712,913		 2020
£
719,000
46,883
5,684
(3,893)
15,453
(651)
(12,529)
(750,598)
(13,590)
5,759

2.

ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Liquid resources
Deposits included in cash
Current asset investments
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1.4.20
£
778,307
778,307
-
10,142
10,142
(55,616)
(416,453)
(472,069)
316,380		 Cash flow
£
634,518
634,518
-
627
627
(1,780)
60,885
59,105
694,250		 At 31.3.21
£
1,412,825
1,412,825
-
10,769
10,769
(57,396)
(355,568)
(412,964)
1,010,630

The notes form part of these financial statements

Page 16

THE FIRCROFT TRUST

Notes to the Financial Statements for the year ended 31 March 2021

1. ACCOUNTING POLICIES

STATEMENT OF COMPLIANCE

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

These financial statements have been prepared in compliance with SORP (FRS 102) and the financial standards applicable in the UK and republic of Ireland.

The Group accounts incorporate the financial statements of the Charity (referred to also as the Parent in the accounts) and its subsidiary (Fircroft (Trading) Limited) on a line by line basis. The Parent and the subsidiary year ends are coterminous. The Charity has taken advantage of the exemption from the requirement to present its own profit and loss in these consolidated accounts.

The Group constitutes a public benefit entity as defined by FRS102.

The Trustees have reasonable expectation that the Group has adequate resources and cash flows to meet spending commitments for the foreseeable future. Accordingly, the continue to adopt the going concern basis of accounting in preparing the annual report and accounts.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

In particular -

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

ALLOCATION AND APPORTIONMENT OF COSTS

Support costs comprise costs of running the organisation, where these costs cannot be directly attributable to the charitable activities they are apportioned to the charitable activities based on a best estimate of how the costs arise.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 1% on cost Fixtures and fittings - 15% on reducing balance Motor vehicles - 20% on reducing balance

continued...

Page 17

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

1. ACCOUNTING POLICIES - continued

No depreciation is provided on freehold land, freehold buildings are depreciated over 100 years.

TAXATION

The charity is exempt from tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Charity's accounting policies which are described above, trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Depreciation

Assets are written down over their estimated useful lives. The actual lives of the assets may differ from those estimates. The lives of the assets are kept under review and adjusted as appropriate.

Allocation of support costs

As explained int he 'Allocation and Apportionment of costs' policy above there are a number of costs that cannot be allocated directly to a specific activity of the charity and these are allocated using a best estimate. The allocation of these costs, were they able to be specifically allocated, may differ from the basis used. Due to the size of the charity the specific allocation is not possible and the basis of allocation is reviewed annually.

IRRECOVERABLE VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

2. DONATIONS AND LEGACIES

Group Only
Donations
3.
OTHER TRADING ACTIVITIES
Group Only
Fundraising
The Wellbeing Hub - Fundraising
The Wellbeing Hub - Sundry revenue
Gardening project
Shop income

continued...

Page 18

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

4.
INVESTMENT INCOME
Group Only
Other fixed asset invest - FII
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Group Only
Activity
Grants
Residential and group homes
Support and residents charges Residential and group homes
Coffee bar and lunches
The Wellbeing Hub
Grants
The Wellbeing Hub
Fircroft fees
The Wellbeing Hub
Grants received, included in the above, are as follows:
Royal Borough Kingston
6.
RAISING FUNDS
Group Only
RAISING DONATIONS AND LEGACIES
Staff costs
Sundries
Event expenses
Shop running costs
7.
CHARITABLE ACTIVITIES COSTS
Group Only
Residential and group homes
The Wellbeing Hub		 Direct
Costs
£
861,302
197,974
1,059,276		 2021
£
620
742
1,362
2021
£
46,719
850,154
88
66,209
37,566
1,000,736
2021
£
96,210
2021
£
88,076
6,220
-
61,462
155,758
Support
costs (see
note 8)
£
87,948
42,230
130,178		 2020
£
651
3,893
4,544
2020
£
-
964,790
11,410
67,297
49,080
1,092,577
2020
£
67,297
2020
£
131,689
8,051
431
81,422
221,593
Totals
£
949,250
240,204
1,189,454

continued...

Page 19

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

8. SUPPORT COSTS

SUPPORT COSTS
Group Only
Management
£
Residential and group homes 87,948
The Wellbeing Hub 42,230
130,178

9. TRUSTEES' REMUNERATION AND BENEFITS

During the prior year Mrs S Horwood received remuneration of £1,602 under authority of the Charities Commission in respect of work for the Charity over and above those of her role as a trustee. Mrs S Horwood resigned as a Trustee on 1st May 2019.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

10. STAFF COSTS Group Only

The total remuneration paid was as follows:

Salaries and Wages
Social security costs
Pension costs		 2021
£
772,839
56,880
15,940
845,659		 2020
£
870,531
53,624
17,839
941,994

The average number of staff employed during the year was 39 (2020: 41). 1 employee received emoluments between £60,000 an £70,000.

continued...

Page 20

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
832,245
Charitable activities
Residential and group homes
964,790
The Wellbeing Hub
127,787
Other trading activities
206,762
Investment income
4,544
Total
2,136,128
EXPENDITURE ON
Raising funds
221,593
Charitable activities
Residential and group homes
895,244
The Wellbeing Hub
287,426
Total
1,404,263
Net gains/(losses) on investments
(5,684)
NET INCOME/(EXPENDITURE)
726,181
RECONCILIATION OF FUNDS
Total funds brought forward
3,753,512
TOTAL FUNDS CARRIED FORWARD
4,479,693		 Restricted
funds
£
16,622
-
-
-
-
16,622
-
23,803
-
23,803
-
(7,181)
13,464
6,283		 Total
funds
£
848,867
964,790
127,787
206,762
4,544
2,152,750
221,593
919,047
287,426
1,428,066
(5,684)
719,000
3,766,976
4,485,976

continued...

Page 21

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

12.
TANGIBLE FIXED ASSETS
Company
COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
Group
COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Fixtures
Freehold
and
Motor
property
fittings
vehicles
Totals
£
£
£
£
3,566,036
274,666
40,567
3,881,269
-
9,942
-
9,942
3,566,036
284,608
40,567
3,891,211
213,280
200,142
29,902
443,324
26,660
12,670
2,133
41,463
239,940
212,812
32,035
484,787
3,326,096
71,796
8,532
3,406,424
3,352,756
74,524
10,665
3,437,945
Freehold
property
Short
Leasehold
Fixtures and
fittings
Motor
vehicles
£
£
£
£
3,566,036
23,174
297,465
65,067
-
-
9,942
-
3,566,036
23,174
307,407
65,067
213,280
4,511
219,935
50,041
26,660
2,497
13,423
3,223
239,940
7,008
233,358
53,264
3,326,096
16,166
74,049
11,803
3,352,756
18,663
77,530
15,026		 Totals
£
3,881,269
9,942







Totals
£
3,951,742
9,942
3,961,684
487,767
45,803
3,891,211
443,324
41,463
484,787
3,406,424
3,437,945
533,570
3,428,114
3,463,975

continued...

Page 22

THE FIRCROFT TRUST

Notes to the Financial Statements - continued

for the year ended 31 March 2021

13. FIXED ASSET INVESTMENTS
Company only Unlisted
investments
£
MARKET VALUE
At 1 April 2020 and 31 March 2021 6
NET BOOK VALUE
At 31 March 2021 6
At 31 March 2020 6

There were no investment assets outside the UK.

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Company
Trade debtors
Other debtors
Prepayments
Group
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments
Amounts falling due after more than one year:
Other debtors
Aggregate amounts		 2021
£
14,100
79,689
6,789
100,578
2021
£
14,100
1,727
14,891
30,718
6,750
37,468		 2020
£
23,177
830,127
11,693
864,997
2020
£
23,177
755,813
25,061
804,051
6,750
810,801

continued...

Page 23

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

15. CURRENT ASSET INVESTMENTS
Company only 2021 2020
£ £
Listed investments 10,769 10,142

The Trading company generated turnover for the year of £52,487 (2020 £177,836), other operating income of £95,635 and incurred expenditure for the year of £149,538 (2020 £190,399) resulting in a loss of £1419 (2020 loss of £12,563).

16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Company
Bank loans and overdrafts (see note 18)
Trade creditors
Taxation and social security
Other creditors
Group
Bank loans and overdrafts (see note 18)
Trade creditors
Taxation and social security
Other creditors		 2021
£
57,396
38,830
13,459
34,142
143,827
2021
£
57,396
43,447
13,888
44,440
159,171		 2020
£
55,616
39,336
12,117
34,661
141,730
2020
£
55,616
47,723
13,282
44,174
160,795

continued...

Page 24

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

17.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Company and Group
Bank loans (see note 18)
18.
LOANS
Company and Group
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
19.
SECURED DEBTS
Company and Group
The following secured debts are included within creditors:
Bank loans		 2021
£
355,568
2021
£
57,396
355,568
2021
£
412,964		 2020
£
416,453
2020
£
55,616
416,453
2020
£
472,069

First legal charge over the freehold property known as 378 Hook Road, Chessington, Surrey, KT9 1NA

continued...

Page 25

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20.
MOVEMENT IN FUNDS
Company
Unrestricted funds
General fund
Firscourt Development
Younger Adults
Restricted funds
Maple Lodge - Amenities Fund
Oliver Ford Trust - Lifting Cushion
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Restricted funds
Maple Lodge - Amenities Fund
COVID19 - Infections Control
Extra Staff Support - COVID19
TOTAL FUNDS		 e as follows:
Incoming
resources
£
1,032,708
1,700
30,001
20,519
52,220
1,084,928		 At 1.4.20
£
3,566,691
200,000
750,000
4,516,691
4,123
160
2,000
6,283
4,522,974
Resources
expended
£
(1,144,531)
(623)
(30,001)
(20,519)
(51,143)
(1,195,674)		 Net
movement
in funds
£
(111,197)
-
-
(111,197)
1,077
-
-
1,077
(110,120)
Gains and
losses
£
626
-
-
-
-
626		 At
31.3.21
£
3,455,494
200,000
750,000
4,405,494
5,200
160
2,000
7,360
4,412,854
Movement
in funds
£
(111,197)
1,077
-
-
1,077
(110,120)

continued...

Page 26

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20. MOVEMENT IN FUNDS - continued Company

Comparatives for movement in funds

MOVEMENT IN FUNDS - continued
Company
Comparatives for movement in funds
Unrestricted funds
General fund
Firscourt Development
Younger adults
Restricted funds
Maple Lodge - Amenities Fund
Morrisons Foundation - allotment project
Kingston Nursing - gardening equipment
The Percy Bilton Trust - Potato Peeler
Steel Charitable Foundation - Service
users' activities
Rangoonwala Trust - Cooker for Privett
Royal Borough of Kingston Upon Thames
- 18/19 Grant re Drama classes
Surbiton Farmers Market - Craft sessions
Oliver Ford Trust - Lifting Cushion
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS		 At
1.4.19
£
3,577,947
200,000
-
3,777,947
3,501
1,456
1,115
500
4,682
235
276
463
1,236
-
13,464
3,791,411		 Net
movement
in funds
£
738,744
-
-
738,744
622
(1,456)
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
2,000
(7,181)
731,563		 Transfers
£
(750,000)
-
750,000
-
-
-
-
-
-
-
-
-
-
-
-
(5,684)		 At
31.3.20
£
3,566,691
200,000
750,000

4,516,691
4,123
-
-
-
-
-
-
-
160
2,000
6,283
4,522,974

continued...

Page 27

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20. MOVEMENT IN FUNDS - continued Company

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Maple Lodge - Amenities Fund
Morrisons Foundation - allotment project
Sobell Foundation - mindfullness
Kingston Nursing - gardening equipment
The Percy Bilton Trust - Potato Peeler
Steel Charitable Foundation - Service
users' activities
Rangoonwala Trust - Cooker for Privett
Royal Borough of Kingston Upon Thames
- 18/19 Grant re Drama classes
Surbiton Farmers Market - Craft sessions
Oliver Ford Trust - Lifting Cushion
Kingston Nursing - Lifting cushion
Christmas activites
RS Brownless - Work benches / lockable
storage (man shed)
Man Shed
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS		 Incoming
resources
£
1,958,292
1,805
-
3,000
-
-
-
-
-
-
-
1,440
350
200
7,827
2,000
16,622
1,974,914		 Resources
expended
£
(1,213,864)
(1,183)
(1,456)
(3,000)
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
(1,440)
(350)
(200)
(7,827)
-
(23,803)
(1,237,667)		 Gains and
losses
£
(5,684)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,684)		 Movement
in funds
£
738,744
622
(1,456)
-
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
-
-
-
-
2,000
(7,181)
731,563

continued...

Page 28

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20.
MOVEMENT IN FUNDS - continued
Group
Unrestricted funds
General fund
Firscourt Development
Younger Adults
Restricted funds
Maple Lodge - Amenities Fund
Oliver Ford Trust - Lifting Cushion
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Restricted funds
Maple Lodge - Amenities Fund
COVID19 - Infections Control
Extra Staff Support - COVID19
TOTAL FUNDS		 e as follows:
Incoming
resources
£
1,180,827
1,700
30,001
20,519
52,220
1,233,047		 At 1.4.20
£
3,529,693
200,000
750,000
4,479,693
4,123
160
2,000
6,283
4,485,976
Resources
expended
£
(1,294,069)
(623)
(30,001)
(20,519)
(51,143)
(1,345,212)		 Net
movement
in funds
£
(112,616)
-
-
(112,616)
1,077
-
-
1,077
(111,539)
Gains and
losses
£
626
-
-
-
-
626		 At
31.3.21
£
3,417,077
200,000
750,000
4,367,077
5,200
160
2,000
7,360
4,374,437
Movement
in funds
£
(112,616)
1,077
-
-
1,077
(111,539)

continued...

Page 29

Page 29 continued...

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20. MOVEMENT IN FUNDS - continued Group

Comparatives for movement in funds

MOVEMENT IN FUNDS - continued
Group
Comparatives for movement in funds
Unrestricted funds
General fund
Firscourt Development
Younger adults
Restricted funds
Maple Lodge - Amenities Fund
Morrisons Foundation - allotment project
Kingston Nursing - gardening equipment
The Percy Bilton Trust - Potato Peeler
Steel Charitable Foundation - Service
users' activities
Rangoonwala Trust - Cooker for Privett
Royal Borough of Kingston Upon Thames
- 18/19 Grant re Drama classes
Surbiton Farmers Market - Craft sessions
Oliver Ford Trust - Lifting Cushion
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS		 At
1.4.19
£
3,553,512
200,000
-
3,753,512
3,501
1,456
1,115
500
4,682
235
276
463
1,236
-
13,464
3,766,976		 Net
movement
in funds
£
726,181
-
-
726,181
622
(1,456)
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
2,000
(7,181)
719,000		 Transfers
£
(750,000)
-
750,000
-
-
-
-
-
-
-
-
-
-
-
-
-		 At
31.3.20
£
3,529,693
200,000
750,000

4,479,693
4,123
-
-
-
-
-
-
-
160
2,000
6,283
4,485,976

continued...

Page 30

THE FIRCROFT TRUST

Notes to the Financial Statements - continued for the year ended 31 March 2021

20. MOVEMENT IN FUNDS - continued Group

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Maple Lodge - Amenities Fund
Morrisons Foundation - allotment project
Sobell Foundation - mindfullness
Kingston Nursing - gardening equipment
The Percy Bilton Trust - Potato Peeler
Steel Charitable Foundation - Service
users' activities
Rangoonwala Trust - Cooker for Privett
Royal Borough of Kingston Upon Thames
- 18/19 Grant re Drama classes
Surbiton Farmers Market - Craft sessions
Oliver Ford Trust - Lifting Cushion
Kingston Nursing - Lifting cushion
Christmas activites
RS Brownless - Work benches / lockable
storage (man shed)
Man Shed
Greater London Authority - Decking and
awning for man shed
TOTAL FUNDS		 Incoming
resources
£
2,136,128
1,805
-
3,000
-
-
-
-
-
-
-
1,440
350
200
7,827
2,000
16,622
2,152,750		 Resources
expended
£
(1,404,263)
(1,183)
(1,456)
(3,000)
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
(1,440)
(350)
(200)
(7,827)
-
(23,803)
(1,428,066)		 Gains and
losses
£
(5,684)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,684)		 Movement
in funds
£
726,181
622
(1,456)
-
(1,115)
(500)
(4,682)
(235)
(276)
(463)
(1,076)
-
-
-
-
2,000
(7,181)
719,000

21. RELATED PARTY DISCLOSURES

The Charity receives covenanted donations and management charges from it's trading subsidiary, The Fircroft Trust (Trading) Limited. At 31st March 2021 the trading company owed £79,105 (2020: £79,819) to the Charity.

22. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

continued...

Page 31