##
||Page|Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|14|
|Report ofthe Independent
Auditors|15|ic|18|
|Statement of Financial Activities||19||
|Balance Sheet||20||
|Cash Flow Statement||21||
|Notes to the Cash Flow Statement||22||
|Notes to the Financial Statements|23|to|37|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds|fund|fund|funds|funds|
||||Notes|6||||as restated
f|
|INCOME AND|||||||||
|ENDOWMENTS
FROM|||||||||
|Donations
and legacies|||2|7,208|||7,208|7,647|
|Charitable
activities|||4||||||
|Housing for older people||||917,323|1,400||918,723|900,820|
|Care home||||2,063,632|110,178||2,173,810|1,938,850|
|Investment
income||||27|||27|19|
|Total||||2,988,190|111,578||3,099,768|2,847,336|
|EXPENDITURE ON|||||||||
|Charitable
activities|||5||||||
|Housing for older people||||770,616|||770,616|780,792|
|Care home||||1,852,750|111,578||1,964,328|1,794,469|
|Total||||2,623,366|111,578||2,734,944|2,575,261|
|Net gains on investments||||42,221|||42,221|71,026|
|NET INCOME||||407,045|||407,045|343,101|
|Other recognised|||||||||
|gains/(losses)|||||||||
|Actuarial
gains/(losses)||on|||||||
|defined benefit schemes||||65,005|||65,005|(289,126)|
|Net movement
in funds||||472,050|||472,050|53,975|
|RECONCILIATION|OF||||||||
|FUNDS|||||||||
|Total funds brought|||||||||
|forward||||6,842,636||40,503|6,883,139|6,829,164|
|TOTAL FUNDS CARRIED|||||||||
|FORWARD||||7,314,686||40,503|7,355,189|6,883,139|
##
|THORNGATE
CHURCHER|TRUST (REGISTERED NUM|BER: 09953572)||
|---|---|---|---|
||BALANCE SHEET|||
||31 MARCH 2022|||
|||2022|2021|
||||as restated|
||Notes||F|
|FIXEDASSETS||||
|Tangible assets|14|8,137,083|7,617,422|
|Investments|15|409,979|363,052|
|||8,547,062|7,980,474|
|CURRENT ASSETS||||
|Stocks|16|6,685||
|Debtors|17|88,675|91,037|
|Cash at bank||565,066|267,795|
|||660,426|358,832|
|CREDITORS||||
|Amounts
falling due within one year|18|(345,800)|(308,952)|
|NET CURRENT ASSETS||314,626|49,880|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||8,861,688|8,030,354|
|CREDITORS||||
|Amounts
falling due after more than one year|19|(1,190,738)|(717,540)|
|PROVISIONS FOR LIABILITIES|22|(315,761)|(429,675)|
|NET ASSETS||7,355,189|6,883,139|
|FUNDS|24|||
|Unrestricted
funds||7,314,686|6,842,636|
|Endowment
funds||40,503|40,503|
|TOTAL FUNDS||7,355,189|6,883,139|
##
##
||||FOR T|HE YEAR ENDED|31 MARCH 2022||
|---|---|---|---|---|---|---|
||||||2022|2021|
|||||||as|
|||||||restated|
|||||Notes||8|
|Cash flows from operating
activities
Cash generated
from operations||||1|621,159|467,767|
|Interest paid
Finance costs paid|||||(35,394)
(9,021)|(36,896)
(4,098)|
|Net cash provided|by operating
activities||||576,744|426,773|
|Cash flows from|investing||activities||||
|Purchase oftangible
fixed assets|||||(699,005)|(207,456)|
|Purchase offixed|asset investments||||(4,706)||
|Interest received|||||27|19|
|Net cash used in|investing|activities|||(703,684)|(207,437)|
|Cash flows from|financing||activities||||
|New loans in year|||||500,000||
|Loan repayments|in year||||(75,789)|(74,190)|
|Net cash provided|by/(used||in) financing|activities|424,211|(74,190)|
|Change
in cash|and cash||equivalents||||
|in the reporting|period||||297,271|145,146|
|Cash and cash equivalents|||at the||||
|beginning
ofthe|reporting||period||267,795|122,649|
|Cash and cash equivalents|||at the end||||
|ofthe reporting|period||||565,066|267,795|
##
##
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||as|
|||||||||restated|
|||||||||6|
||Net income for the|reporting||period (as per the Statement|of||||
||Financial Activities)||||||407,045|343,101|
||Adjustments
for:||||||||
||Depreciation
charges||||||178,952|170,480|
||Gain on investments||||||(42,221)|(71,026)|
||Loss on disposal of|fixed assets|||||392|395|
||Interest received||||||(27)|(19)|
||Interest paid||||||35,394|36,896|
||Finance costs||||||9,021|4,098|
||Increase
in stocks||||||(6,685)||
||Decrease/(increase)
Increase
in creditors|in debtors|||||2,362
K5,835|(5,691)
50,338|
||Difference between|pension|charge and cash contributions||||(48,909)|(60,805)|
||Net cash provided|by operations|||||621,159|467,767|
|2.|ANALYSIS OF CHANGES||IN|NET DEBT|||||
||||||At|1.4.21|Cash Row|At 31.3.22|
|||||||6||6|
||Net cash||||||||
||Cash at bank||||267,795||297,271|565,066|
||||||267,795||297,271|565,066|
||Debt||||||||
||Debts falling due within
1 year||||(75,481)||48,987|(26,494)|
||Debts falling due after 1 year||||(717,540)||(473,198)|(1,190,738)|
||||||(793,021)||(424,211)|(1,217,232)|
||Total||||(525,226)||(126,940)|(652,166)|
##
##
##
##
|Structure|||1%|
|---|---|---|---|
|Roofs|||1.4%|
|Windows|and Doors||33%|
|Boilers|||6.7%|
|Kitchens|||5%|
|Bathrooms|||3.3%|
|Mechanical||Systems|3 3D/|
|Electrical|Systems||25%|
|Lifts|||5%|
|Furniture|and equipment||25%|
|Computers||and office equipment|25%|
##
##
##
##
||||FOR THE YEAR ENDE|FOR THE YEAR ENDE|FOR THE YEAR ENDE|FOR THE YEAR ENDE|D 31 MARCH 2022|||
|---|---|---|---|---|---|---|---|---|---|
|2.|DONATIONS||AND LEGACIES|||||||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||||6|6|
||Gifts|||||||1|2|
||Donations|||||||7,207|7,645|
|||||||||7,208|7,647|
|3.|INVESTMENT|||INCOME||||||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||||6|E|
||Deposit account||||interest|||27|19|
||All investment|||income is derived from assets held|||in the United Kingdom.|||
|4.|INCOME FROM||||CHARITABLE ACTIVITIES|||||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||Activity|||F|
||Social housing|||||||||
||maintenance||contributions|||Housing for older people||917,323|891,003|
||Grants|||||Housing for older people||1,400|9,817|
||Residential|care|||home|Care home||2,063,632|1,782,931|
||Grants|||||Care home||110,178|155,919|
|||||||||3,092,533|2,839,670|
||Grants received,||||included|in the above, are as follows:||||
|||||||||2022|2021|
||||||||||as|
|||||||||6|restated
f|
||Hampshire|County Council||||||107,296|125,490|
||Surrey County|||Council|||||1,000|
||HMRC - CJRSand SSPGrants|||||||4,282|39,246|
|||||||||111,578|165,736|
##
##
##
##
##
||||Direct|Support||
|---|---|---|---|---|---|
||||Costs (see|costs (see||
||||note 6)
F|note 7)
f.|Totals
f|
|Housing for|older people||567,785|202,831|770,616|
|Care home|||1,753,317|211,011|1,964,328|
||||2,321,102|413,842|2,734,944|
|DIRECT COSTS OF CHARITABLE ACTIVITIES||||||
|||||2022|2021|
||||||as|
|||||f|restated
f|
|Services||||1,917,196|1,831,214|
|Day to day maintenance||||127,415|131,148|
|Cyclical maintenance||||25,006|53,801|
|Extraordinary|maintenance|||32,804|13,348|
|Other costs||||40,902|31,798|
|Depreciation||||133,364|132,157|
|Interest payable||and similar charges||44,415|40,994|
|||||2,321,102|2,234,460|
##
##
##
##
##
||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||as|
|||||||||||restated|
|||||||Housing|||||
|||||||for older|||Total|Total|
|||||||people
F||Care home
8|activities
f|activities|
|Auditors'|remuneration|||||1,799||4,105|5,904|5,904|
|Auditors'|remuneration|||for|non audit||||||
|work|||||||250|500|750|750|
|Governance||costs||||2,798||2,799|5,597|3,000|
|||||||4,847||7,404|12,251|9,654|
|NET INCOME/(EXPENDITURE)|||||||||||
|Net income/(expenditure)|||||is stated after|charging/(crediting):|||||
||||||||||2022|2021|
|||||||||||as|
|||||||||||restated|
|||||||||||F|
|Auditors'|remuneration||||||||5,904|5,904|
|Other non-audit|||services||||||750|750|
|Depreciation||-|owned assets||||||178,952|170,480|
##
##
##
|STAFF CO|STS|||
|---|---|---|---|
|||2022
6|2021
f|
|Wages and|salaries|1,445,644|1,503,635|
|Social security costs||97,457|95,545|
|Employer's|pension costs|44,490|43,298|
|||1,587,591|1,642,478|
##
##
##
|The aver|age
mon|thly|number ofemployees
during th|e year was as follows:||
|---|---|---|---|---|---|
|||||2022|2021|
||||||as|
||||||restated|
|Administration||||3|3|
|Maintenance||||3|3|
|Housing,|support|and|care|64|64|
|||||70|70|
##
|The number
of employees|The number
of employees|The number
of employees|whose|whose|employee|benefits
(excluding|benefits
(excluding|employer|pension|costs)|exceeded|
|---|---|---|---|---|---|---|---|---|---|---|---|
|f60,000was:||||||||||||
||||||||||2022||2021|
||||||||||||as|
||||||||||||restated|
|670,001 - 680,000|||||||||||1|
|COMPARATIVES|FOR|THE STATEMENT OF||||FINANCIAL|ACTIVITIES|||||
|||||||Unrestricted|Restricted||Endowment||Total|
|||||||funds||fund|fund||funds|
|||||||||||as restated||
||||||||||E||6|
|INCOME AND ENDOWMENTS||||FROM||||||||
|Donations
and legacies||||||7,647|||||7,647|
|.Charitable
activities||||||||||||
|Housing for older people||||||891,003||9,817|||900,820|
|Care home||||||1,863,896||74,954|||1,938,850|
|Investment
income||||||19|||||19|
|Total||||||2,762,565||84,771|||2,847,336|
|EXPENDITURE ON||||||||||||
|Charitable
activities||||||||||||
|Housing
for older people||||||770,975||9,817|||780,792|
|Care home||||||1,719,515||74,954|||1,794,469|
|Total||||||2,490,490||84,771|||2,575,261|
|Net gains on investments||||||71,026|||||71,026|
|NET INCOME||||||343,101|||||343,101|
|Other recognised|gains/(losses)|||||||||||
|Actuarial
gains/(losses)||on defined|||benefit|||||||
|schemes||||||(289,126)|||||(289,126)|
|Net movement
in|funds|||||53,975|||||53,975|
##
##
##
##
##
|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|ACTIVITIES - continued|ACTIVITIES - continued||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|fund|fund|funds|
||||||as restated|
||||||6|
|RECONCILIATION|OF FUNDS|||||
|Total funds brought|forward|6,788,661||40,503|6,829,164|
|TOTAL FUNDS CARRIED FORWARD||6,842,636||40,503|6,883,139|
##
|PRIOR YEAR ADJUSTMENT|PRIOR YEAR ADJUSTMENT|PRIOR YEAR ADJUSTMENT|PRIOR YEAR ADJUSTMENT||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|A prior year
audit
adjustment||||has
been||made|to capitalise||698,050 of the||future|housing
costs|||
|previously||included
within|support||costs|in relation
to||the Grove Road housing|||development
due|||to|
|planning|permission
being||probable||as at 31 March||2021.||||||||
|INCOME|AND EXPENDITURE FROM SOCIAL HOUSING ACTIVITIES||||||||||||||
||||||||||||2022||2021||
||||||||||||||as||
||||||||||||||restated||
||||||||||||6||6||
|Charitable||income - fees and maintenance||||contributions|||2,980,955||||2,673,934||
|Charitable||income - donations||and|legacies||||||7,207||7,647||
|Charitable||income - grants||||||||111,578|||165,736||
|Charitable||expenditure|||||||(2,734,944)||||(2,575,261)||
|||||||||||364,796|||272,056||
|Adjustment||for pension
funds,||investments,||maintenance||reserve|and||||||
|capital grant|||||||||||(28,115)||3,078||
|Charitable||surplus||||||||336,681|||275,134||
##
##
##
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||||Fixtures||
||Freehold|Plant and|and||
||property
f|machinery
E|fittings
E|Totals
E|
|COST|||||
|At 1 April 2021|9,766,463|110,081|414,118|10,290,662|
|Additions|642,586|1,418|55,001|699,005|
|Disposals|(11,736)|(2,831)|(9,683)|(24,250)|
|At 31 March 2022|10,397,313|108,668|459,436|10,965,417|
|DEPRECIATION|||||
|At 1 April 2021|2,231,792||376,544|2,673,240|
|Charge for year|133,364|17,465|28,123|178,952|
|Eliminated
on disposal|(11,736)|(2,806)|(9,316)|(23,858)|
|At 31 March 2022|2,353,420|79,563|395,351|2,828,334|
|NET BOOK VALUE|||||
|At 31 March 2022|8,043,893|29,105|64,085|8,137,083|
|At 31 March 2021|7,534,671|45,177|37,574|7,617,422|
##
##
|FIXEDASSETINVESTNIENTS||||
|---|---|---|---|
||Listed|Unlisted||
||investments
f|investments
6|Totals
8|
|MARKET VALUE||||
|At 1 April 2021|363,052||363,052|
|Additions||4,706|4,706|
|Revaluations|42,221||42,221|
|At 31 March 2022|405,273|4,706|409,979|
|NET BOOKVALUE||||
|At 31 March 2022|405,273|4,706|409,979|
|At 31 March 2021|363,052||363,052|
|Cost or v|alua|tion
at 31 March 2022 is re|presented
by:|||
|---|---|---|---|---|---|
||||Usted|Unlisted||
||||investments
f|investments
F|Totals|
|Valuation|in|2022|405,273|4,706|409,979|
##
||||NOTES|NOTES|TO THE|FINANCIAL STATEMENTS - continued|FINANCIAL STATEMENTS - continued|||
|---|---|---|---|---|---|---|---|---|---|
||||||FOR THE|YEAR ENDED 31|MARCH 2022|||
|16.|STOCKS|||||||||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||||F|8|
||Stocks|||||||6,685||
|17.|DEBTORS:AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||||E|F|
||Arrears ofmaintenance|||contributions||and care home fees||13,326|11,557|
||Other debtors|||||||8|2,878|
||Prepayments|and accrued|||income|||75,341|76,602|
|||||||||88,675|91,037|
|18.|CREDITORS: AMOUNTS||||FALLING|DUE WITHIN ONE|YEAR|||
|||||||||2022|2021|
||||||||||as|
||||||||||restated|
|||||||||E|E|
||Bank loans and overdraRs||||(see note|20)||24,706|73,501|
||Other loans (see||note 20)|||||1,788|1,980|
||Trade creditors|||||||79,847|54,219|
||Maintenance|contributions|||and care|home fees received|in advance|135,923|94,311|
||Social security and other taxes|||||||26,241|20,236|
||Other creditors|||||||77,295|64,705|
|||||||||345,800|308,952|
|||||||||2022|2021|
|||||||||E|E|
||Brought forward|||||||94,311|28,196|
||Amount released||to incoming resources|||||(94,311)|(28,196)|
||Amount deferred||in year|||||135,923|94,311|
||Carried forward|||||||135,923|94,311|
##
##
##
||||2022|2021|
|---|---|---|---|---|
|||||as|
|||||restated|
|||||F|
|Bank loans (see note 20)|||1,174,922|699,936|
|Other loans (see note 20)|||15,816|17,604|
||||1,190,738|717,540|
|LOANS|||||
|An analysis ofthe maturity|ofloans is given below:||||
||||2022|2021|
||||E|E|
|Amounts
falling due within|one year||||
|Bankloans|||24,706|73,501|
|Other loans|||1,788|1,980|
||||26,494|75,481|
|Amounts
falling due between||two and five years|||
|Bank loans|||602,154|101,215|
|Other loans|||12,602|9,661|
||||614,756|110,876|
|Amounts
falling due in more than five years|||||
|Bank loans|||572,768|598,721|
|Otherloans|||3,214|7,943|
||||575,982|606,664|
##
||2022|2021|
|---|---|---|
|||as|
|||restated|
|Bankloans|1,199,628|773,437|
##
##
##
##
##
|||||||31 March 2022|31 March 2021|
|---|---|---|---|---|---|---|---|
|||||||6||
|Provision at start||ofperiod||||426,000|197,000|
|Unwinding
ofthe||discount|factor|||9,000|4,000|
|Deficit contribution||paid||||(83,000)|(83,000)|
|Impact ofchange||in assumptions||||(63,000)|289,000|
|Current service cost||||||21,000|14,000|
|Expenses||||||5,000|5,000|
|SHPS Provision|at end of||period|||315,000|426,000|
|TPT Retirement|Solutions||- The Growth Plan|||761|3,675|
|Provision at end|ofperiod|||||315,761|429,675|
|Income and expenditure|||impact|||||
|||||||31 March 2022f|31 March 2021|
|Interest expense||||||9,000|4,000|
|Impact ofchange||in assumptions||8 contribution|schedule|(63,000)|289,000|
|Current service cost||||||21,000|14,000|
|Expenses||||||5,000|5,000|
|Assumptions||||||||
||||||31 March 2022|31 March 2021|31 March 2020|
||||||'%%d per annum|'%%d per annum|%%d per annum|
|Rate ofdiscount|||||2.79|2.15|2.39|
##
##
##
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||as|
|||||||||restated|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds|fund|fund|funds|funds|
|||||6|6|F|F|E|
|Fixed assets||||8,137,083|||8,137,083|7,617,422|
|Investments||||409,979|||409,979|363,052|
|Current|assets|||617,847|2,076|40,503|660,426|358,832|
|Current|liabilities|||(343,724)|(2,076)||(345,800)|(308,952)|
|Long term liabilities||||(1,190,738)|||(1,190,738)|(717,540)|
|Provision|for|liabilities||(315,761)|||(315,761)|(429,675)|
|||||7,314,686||40,503|7,355,189|6,883,139|
|MOVEMENT||IN FUNDS|||||||
||||||||Net||
||||||||movement||
|||||||At 1.4.21|in funds|31.3.22|
|||||||6|6|F|
|Unrestricted||funds|||||||
|General|fund|||||6,428,794|421,860|6,850,654|
|Cyclical|maintenance||reserve|||289,368|34,394|323,762|
|Extraordinary||repairs|reserve|||124,474|15,796|140,270|
|||||||6,842,636|472,050|7,314,686|
|Endowment||funds|||||||
|Endowment||reserve||||40,503||40,503|
|TOTAL|FUNDS|||||6,883,139|472,050|7,355,189|
##
|Net movemen|t
in fun|ds, included
in th|e above are as follow|s:|||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resoul ces
E|expended
f|losses
6|in funds
E|
|Unrestricted|funds||||||
|General
fund|||2,988,190|(2,673,556)|107,226|421,860|
|Cyclical maintenance||reserve||34,394||34,394|
|Extraordinary|repairs|reserve||15,796||15,796|
||||2,988,190|(2,623,366)|107,226|472,050|
|Restricted funds|||||||
|Coronavirus|Support|Fund|111,578|(111,578)|||
|TOTAL FUNDS|||3,099,768|(2,734,944)|107,226|472,050|
##
##
##
|Comparative|s
for m|ovement
in fun|ds||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.20
E|in funds
E|funds
f|31.3.21
8|
|Unrestricted|funds||||||
|General fund|||6,251,237|48,845|128,712|6,428,794|
|Capital reserve|||128,712||(128,712)||
|Cyclical maintenance||reserve|283,769|5,599||289,368|
|Extraordinary|repairs|reserve|124,943|(469)||124,474|
||||6,788,661|53,975||6,842,636|
|Endowment|funds||||||
|Endowment|reserve||40,503|||40,503|
|TOTAL FUNDS|||6,829,164|53,975||6,883,139|
|Compara|tive|net mov|ement
in funds,|included
in the above|are as follows:|||
|---|---|---|---|---|---|---|---|
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
|||||F|F|F|E|
|Unrestricted||funds||||||
|General|fund|||2,762,565|(2,495,620)|(218,100)|48,845|
|Cyclical|maintenance||reserve||5,599||5,599|
|Extraordinary||repairs|reserve||(469)||(469)|
|||||2,762,565|(2,490,490)|(218,100)|53,975|
|Restricted funds||||||||
|Coronavirus||Support|Fund|84,771|(84,771)|||
|TOTAL|FUNDS|||2,847,336|(2,575,261)|(218,100)|53,975|
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