## **HERTS AND ESSEX (WARE) SAMARITANS** ## **FINANCE REPORT FOR ANNUAL REPORT 2020/21** ## FINANCIAL REVIEW Our income for 2020/21 was £99,412, from donations, charitable activities and grants income. We thank all for their essential financial support. This year we are particularly appreciative of those who stepped up to support us cope with Covid 19 during the year, and moreover for the expected continued demand on our service due to typically, long covid, bereavements and the economic position of the most vulnerable. These included Hertfordshire Community Fund, the National Lottery Community Fund, Howmet Ltd, East Herts DC, Ware Town Hall, the Locality Funds of our Councillors, and significant gifts from private donors. We also have a commitment of support from the Mayor of Hertford when he has completed his 2 year term. We remain grateful to Herts County Council and PohWer for their continued annual support. We wish to thank all our volunteer fundraisers for their ongoing commitment and efforts, especially the Friends of Ware Samaritans, led by Joyce and Brian and the 300 Club managed by Vivien which continue to raise much needed funds for the branch, under difficult circumstances. Our operating costs for the year were £32,298. These included several equipment purchases and improvements to the branch, to specifically enable us to continue to offer our services in a Covid compliant manner. We have been particularly frugal with spending because of the uncertainty around Covid 19 and our inability to undertake in particular our Outreach activity and the selection, recruitment and training of volunteers at our centre. We have paid a Branch Contribution to the Samaritans Central Charity during the year of £13,862 as an affiliated branch. This was based on a formula related to our income, expenses, and reserves for 2019/20. The Net Surplus for the year was £67,114. We have no paid staff and are very grateful to our volunteers for their time freely given. It has been estimated that the employment cost of our volunteers would exceed £800,000 **.** We have an Income Generating Reserves of £111,996 which will in due course cover the future loss of what has been a very reliable low risk income source. We also currently hold cash reserves of £94,393 to cover future short-term commitments and the demands on our service which we expect, as a consequence of the pandemic. We have served our community for over 50 years and are determined to ensure this will continue given the growing demand we face. Our investments are managed by Sarasin and Partners Investment Managers in a Common Investment Fund (CIF) for Endowments. The invested and reinvested funds at 31 March 2021 had a market value of £111,996. We made a further investment of £20,000 into our investments in 2020/21 and we have seen an improvement in the value of our investment during the year of £17,689. In summary, we are conscious of the continuing impact that the Covid-19 pandemic may have on our finances in the current year but feel that we have sufficient reserves to meet our running costs for the foreseeable future. Since the impact of COVID 19 was evident we have been actively fund raising for grants and donations from such sources that are able to support us. We have been determined to maintain our full service and support the vulnerable in our community, but the ability of our Friends of Samaritans to hold community fundraising events has been substantially impaired by the lockdown and caution of the public. Moreover, we are aware that the recession that follows this pandemic will have a significant impact on the well-being of people as was evident in the previous financial recession. This will lead to an increased demand on our service for some years. We will maintain that active fundraising and are quietly confident that community sources will support our service to the community. This approach to managing our financial affairs has served us well in the recent past. Over the last 18 years we have moved in stages from a 2-bedroom terraced house with 80/90 volunteers to a fully functional Samaritans' centre with 160/170 volunteers and the potential for more. ## INVESTMENT AND RESERVES POLICY Our short-term policy is to hold cash in our current account at Lloyds Bank Plc, the amount of which is shown as part of our Unrestricted Funds (See Assets and Liabilities as at 31 March 2021). As noted above, we are holding sufficient cash to cover our future operational costs. Our approach to investment risk requires a diversified portfolio for our investments with the asset allocation being Fixed Income 11.2%, Equities 72.1%, Property 2.4% and other 14.3% including liquid assets. The geographic allocation is 38.5% UK, 35.1% North America, Europe 11% and 15.4% being the Rest of the World. Our CIF for Endowments is specifically for charities and stocks are selected using ethical criteria. The Trustees review this investment policy annually and pro-actively ensure that it remains fit for purpose by reviewing the quarterly reports of our Investment Managers, attending their annual Spring Seminar and the annual Autumn Review of the CIF fund to gain insight into their market perspectives and seeking additional advice if required. ## AUDITOR The Accounts were independently examined by Sylvia Jenkins. The Examiners report to the Trustees, dated 5 August 2021, is available from the Secretary. A resolution for the reappointment of Sylvia Jenkins will be proposed at the next Annual General Meeting. We are very grateful for Sylvia’s continued support. HERTS ESSEX IWAREI SAMARITANS Statemext of Assets and LlabllStles as at 31st Mar¢tt 2021 Note 2021 2020 FIXED ASSETS lat C05tl Freehold Property- I Cross Street, Ware Capitali5ed Development Costs 270,529 258.269 528,798 270,529 258.269 528,798 INVESTMENTS (Market Value) Sarasin & Partners CIF for Endowments b/f Gain/lLoss1 in Year Invested/lSoldl in Year 74,307 17.689 20.000 111,996 75,331 11,0241 74,307 CURRENT ASS￿5 Bank Balances Lloyds Bank plc- Current Aicount B3rc18ys- Frlends account Barclays 300 Club account Petty Cash 90,556 3.028 750 59 94.393 45,715 1,242 250 72 47,279 TOTAL NEf ASSETS 735,187 650,384 THE FUNDS OFTHE CHARITY: THE FUNDS OF THE CHARn: Deslgnated Reserves Freehold Property on acquisition- I Crtss5 St Deve5oprnent C05t to date Total Fixed Asset reserve Restrlcted income after expenses Income Generatin8 Reserve 270,529 258.269 528,798 36,631 111,996 677,425 270,529 258,269 528,798 74,307 E03.105 Unrestrltted Fund Balance b/f Movernent In Year Transfer to restritted reserve Transferto income generation reserve Total unrestrltted funds 47.279 67.114 136.6311 120.0001 57,762 36,771 10,508 47,279 TOTAL CHARITY FUNDS 735,187 650.384 Approved by the T stees and slgned on thelr behalf.. Susannah Fenton Carol Tittensor..... . HERTS ESSEX IWAREI SAMARITANS Receipts and Payments for the year ending 315t March 2021 Note 2020121 Total 2019120 Total RECEIPTS Donations Restricted Funds 39,204 2,000 43,353 4,285 7,5(Kl 70 3,000 99,412 28,436 Outreach support COVID 19 relief support Friends of Samaritans Grants Income Branch events 300 Club Charitable activities: 11,885 4,5CNJ 713 Other trading activities: 2,497 48,031 TOTAL RECEIPTS PAYMENTS Emergency Telephones Volunteers Training & Support Publicity & Advertising Stationery & Postage Water, Light & Heat Household Expenses Repairs, Renewals & Setvicing Equipment Purchase & Hire office telephone Motor Vehicle Expenses Governance Costs Insurance & Legal COVID 19 specific costs 741 1,229 600 334 2,060 466 1,393 415 1,260 915 2,991 2,384 740 2,805 2,052 3.824 7,125 1,966 12791 711 885 618 922 8,398 18,436 13,862 26.119 11.404 NBC contribution to SCC for 2019120 TOTAL PAYMENTS 32,298 37,523 NET INCOME SURPLUS / IDEFICITI for the Year Gains / ILos51 on Investment assets MOVEMENT IN FUNDS 67.114 17,689 84.803 10,508 11,0241 9,484 RESERVE BALANCES at start ofyear 650,384 640,900 RESERVE BALANCES at end ofyear 735,187 650,384 THE SAmAR￿ANS, HERTS AND ESSEX {WARE) BRANCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES reFOrt on the accounls f(Y the year ended 31 March 2021. which are set out on the two pages attacJ)ed heretr). Resp8rtive Tesponsibilitt¢s of trustees and examinèr As the charity's trustees you are responsible for the preparation of the accounts. you considerthat the audit requirement of section 43(2) of Ihe ChaAties Aet 1993 (the Act) does not apply. It is my responsibility lo state, on the basis of the PrO￿dureS ¥)e¢Efied in the General Directions given by the Charity Commissions under section 43(7}(b) of the Aei, whether partlcular matters have come to my attent￿Tr. Basis of the independent examiner's report My examination was earr&ed out in accordance with the Genefal Directions given by the Charity Commissioner8. An examination inGludes ? review of the Aecouhting reeords. It also includes consideration of any unusual rtems or •• disc105ures in the account, and se8king explanatlons from you as trustees concerning any such matters. The wocedunas undcrtaken do not provide all the evidence that would be requir￿ tn an audit. and consequently I do not express an audit opinion on the view given by the a￿Ounts. Independ¢nt examinÈrfs statement In connection with my examination. no matter has come to my attention: 1. ￿tch gives reasonable cause to believe that in any matefial respeGt the r¢quiremonts= to keep accounting rernrds Èn prO)rdan￿ with section 41 of the Art and to prppare accounts which accord with the accounting records and to mply with the a(￿oU￿t￿9 requirements of Aei have not been mel. ( 2. to which, in my opitbton. attention should be drawn in <)rder to enable a proper und8rstanding of the accounts io be reaehed. S A Jenkins, Bsc Mimram House Tewin Water Welwyn HERTS AL6 OAB S August 2021