## **HERTS AND ESSEX (WARE) SAMARITANS** ## **FINANCE REPORT FOR ANNUAL REPORT 2021/22** ## FINANCIAL REVIEW Our income for 2021/22 was £130,333, from donations, charitable activities and grants income. We thank all for their essential financial support. We remain grateful to Herts County Council and PohWer for their continued annual support. In particular we are most grateful to the Hertford Yarnbombers who selected us as their charity of the year, the Mayor of Broxbourne charity appeal and a most generous private donor who gave us funds to meet our future property needs. 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 ensure we can continue to raise much needed funds for the branch, under difficult circumstances. Our operating costs for the year were £24,060. 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 continuing 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 Office during the year of £31,178 as an affiliated branch as stated in note c to the Accounts. This was based on a formula related to our income, expenses, and reserves for 2020/21. The Net Surplus for the year was £75,095. We recruited a part time administrative assistant in March 2022, to assist our Director and Branch Secretary. Apart from this 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 a perpetual and ever-growing demand on our service. Covid and its consequences, including bereavements, long-covid, the change in working habits and the loss of education for young people imposes another level of demand on us, as will the economic climate we know we face due to, among other issues, the war in Ukraine. Having served our community for over 50 years we are determined to ensure this will continue. We hold cash reserves of £69,488 to cover future short-term commitments and the demands on our service which we expect to continue as a consequence of the pandemic. 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 2022 had a market value of £216,125. We made a further investment of £100,000 into our investments in 2021/22 and we have seen an improvement in the value of our investment during the year of £4,129. We are aware that our future income is exposed to the threat of the current economic scenario that is developing and will impact all our donors and in particular some of our most reliable sources of income. 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 170 volunteers and the potential for more. ## INVESTMENT POLICY Our approach to investment risk requires a diversified portfolio for our investments with the asset allocation being Fixed Income 6.95%, Equities 69.11%, Property 5.53% and other 18.41% including liquid assets. The geographic allocation is 39.7% UK, 35.3% North America, Europe 9.3% and 15.7% 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 to 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 30 July 2022, 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 (WARE) SAMARITANS **Statement of Assets and Liabilities as at 31st March 2022** |Note
£
**FIXED ASSETS (at Cost)**
Freehold Property - 1 Cross Street, Ware
270,529
Capitalised Development Costs
258,269
528,798
**INVESTMENTS (Market Value)**
Sarasin & Partners CIF for Endowments b/f
111,996
Gain/(Loss) in Year
4,129
Invested/(Sold) in Year
100,000
216,125
**CURRENT ASSETS**
Bank Balances
Lloyds Bank plc - Current Account
68,142
Barclays - Friends account
854
Barclays - 300 Club account
492
Petty Cash
0
69,488
**TOTAL NET ASSETS**
**814,411**
**THE FUNDS OF THE CHARITY:**
RESTRICTED FUND (after expenses) d
54,457
**UNRESTRICTED FUNDS**
Designated Reserves
Freehold Property on acquisition - 1 Cross St
270,529
Development cost to date
258,269
Total Fixed Asset reserve
528,798
Major Property Maintenance fund e
59,000
General fund
Balance b/f
169,758
Movement In Year
79,224
Transfer to restricted reserve
(17,826)
Transfer to major property maintenance fund
(59,000)
Balance c/f
172,156
Total Unrestricted funds f
759,954
**TOTAL CHARITY FUNDS**
**814,411**
**2022**|£
270,529
258,269
528,798
74,307
17,689
20,000
111,996
90,556
3,028
750
59
94,393
**735,187**
36,631
270,529
258,269
528,798
-
121,586
84,803
(36,631)
169,758
698,556
**735,187**
**2021**| |---|---| Approved by the Trustees and signed on their behalf: Susannah Fenton ….................................................... Carol Tittensor…........................................................ HERTS ESSEX (WARE) SAMARITANS **Receipts and Payments for the year ending 31st March 2022** Note |**RECEIPTS**
b
Donations
Legacies
Restricted Funds
Yarnbombers donations
Outreach support
COVID 19 relief support
Charitable activities:
Friends of Samaritans
Grants Income
Other income ( Vodafone refund)
Branch events
Other trading activities:
300 Club
**TOTAL RECEIPTS**
**PAYMENTS**
b
Emergency Telephones
Volunteers Training & Support
Publicity & Advertising
Stationery & Postage
Water, Light & Heat
Household Expenses
Repairs, Renewals & Servicing
Equipment Purchase & Hire
Office telephone
Governance Costs
Insurance & Legal
Salary costs
COVID 19 specific costs
Operating Costs
Contribution to SCO
c
**TOTAL PAYMENTS**
NET INCOME SURPLUS / (DEFICIT) for the Year
Gains / (Loss) on Investment assets
MOVEMENT IN FUNDS
RESERVE BALANCES at start of Year
RESERVE BALANCES at end of Year|**2021/22**
Total
£
84,998
500
20,387
0
0
10,326
8,000
3,980
0
2,142
**130,333**
802
4,376
3,029
344
2,346
1,791
2,756
3,337
768
421
1,009
520
2,561
24,060
31,178
**55,238**
75,095
4,129
**79,224**
735,187
**814,411**|**2020/21**
Total
£
39,204
0
0
2,000
43,353
4,285
7,500
0
70
3,000
**99,412**
741
1,229
600
334
2,060
466
1,393
415
1,260
618
922
8,398
18,436
13,862
**32,298**
67,114
17,689
84,803
650,384
**735,187**| |---|---|---| THE SAMARITANS, HERTS AND ESSEX (WARE) BRANCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts for the year ended 31 March 2022. which are set out on the two pages attathed hereto. Respective responsibilities of trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of the procedures specified in the General Directions given by the Charity Commissions under section 43(7)(b) of the Act. whether particular matters have come to my attention. Basis of the independent examinerfs report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records. It also includes consideration of any unusual items or disclosures in the account. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In connection with my examination, no matter has come to my attention: 1. which gives reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordan￿ with section 41 of the Act, and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sylvia A Jenkins, Mimram House Tewin Water Welwyn HERTS AL6 OAB 30 July 2022