Charity Registration No. 1174197
Company Registration No. 10778305 (England and Wales)
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES'REPORT AND AUDITED ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|Trustees|Mr N C Johnson|
|---|---|
||Mrs C C Campbell|
||Mr T P Sharp|
||Mrs N Lee|
||Revd P L Southcombe (retired 08/09/2021)|
||Mr R Allam|
||Mr R J Pringle|
||Mr D L F Cawdery|
||Mr E T O Adamson (appointed 01/12/2021)|
||Mr C Bennett (appointed 23/06/2021)|
|Secretary|Miss F C Tasdelen|
|Chief Executive|Mr S M Robinson|
|Charity number|1174197|
|Company number|10778305|
|Registered office|Moran House|
||1 Holes Bay Park|
||Sterte Avenue West|
||Poole|
||Dorset|
||BH15 2AA|
|Auditors|Saffery Champness LLP|
||Midland House|
||2 Poole Road|
||Bournemouth|
||BH2 5QY|
|Solicitors|Lester Aldridge|
||Russell House|
||Oxford Road|
||Bournemouth|
||BH8 8EX|
|Investment advisors|Evelyn Partners|
||25 Moorgate|
||London|
||EC2R 6AY|
|Bankers|Barclays|
||Barclays House|
||1 Wimborne Road|
||Poole|
||BH15 2FQ|
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
||Page|
|---|---|
|Trustees report|1 - 12|
|Statement of trustees' responsibilities|13|
|Independent auditor's report|14 - 17|
|Consolidated Statement of financial activities|18|
|Consolidated Statement of financial position|19|
|Statement of consolidated cash flows|20|
|Notes to the accounts|21 - 41|
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
The directors and trustees present their annual report and the consolidated financial statements for the year ended 31 March 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Articles of Association, the Companies Act 2006 and 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 (FRS102) (effective January 2015).
## **Objectives and activities**
The objects clause in the company's Articles of Association states:
- (a) To advance physical, mental and spiritual health through the provision of care, facilities, services, support and practical advice
- (b) To relieve financial hardship amongst older persons and persons of any age suffering from a physical or mental illness or disability
- (c) To promote equality and diversity by:
- The elimination of discrimination on the grounds of age, disability or mental or physical health Advancing education in and raising awareness of equality and diversity Promoting activities to foster understanding between people from diverse backgrounds Cultivating a sentiment in favour of equality and diversity
- (d) To promote the inclusion of people who are excluded from society or parts of society by reason of their age, ill health or disability
- (e) To provide or assist in the provision of facilities in the interests of social welfare for education, the advancement of health, recreation and leisure time occupation with the object of improving the conditions of life for residents of the areas selected by the trustees
- (f) To research or to support or commission research into care for older persons and persons suffering from a physical or mental illness or disability and to publish the useful results of such research as a practical expression of Christian love and compassion
## **Legal Status**
The Prama Foundation is a charity and a company limited by guarantee. It is head of a group of charities under the trading name of “Prama”. These include PramaCare, a home care provider, PramaLife, a provider of care and support within the community and Prama Services, currently used as a training provider. There are two further companies, Prama Trade and Abba Care. Both are currently dormant but held for if there is a need for future development. The Foundation owns 100% of its subsidiaries and appoint the Directors. The chair of each subsidiary must be a director of the Foundation.
The work of the subsidiaries each contribute to the core Christian mission of the Prama Foundation which has the objective of supporting people, primarily across Bournemouth, Christchurch and Poole, to live with dignity as they age. Each component part of the group now has focus on specific areas of work that can largely fit under the banner of a “life course approach to ageing”.
## **Achievements and Performance**
2021/22 was the second year living and working under the pandemic. This was difficult for a staff teams who had already given so much for so long. That they continued to do this, whilst maintaining such high levels of professionalism, is testament to their commitment and genuine care for our clients. We cannot thank our staff team enough for their ongoing diligence and commitment.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Achievements and Performance (Continued)**
During 2021/22 through the work of PramaCare we delivered care and support to over 1,247 clients, ranging from domiciliary care, to nail care, to support for those with brain injury, and we used our resources to help people most in need.
We provided charitable subsidised care to 9 clients. A total of 3,016 hours with a value of £10,041.
Furthermore, through our Smile programmes we helped another 21 clients with additional support, at no cost to themselves. In total we provided another 466 hours through the Smile programmes at a value of £4,984.
PramaCare continued to support the NHS and BCP Council through the impact of the pandemic by participating in BCP Council's Rapid Response Scheme; specifically, by supporting patients being discharged from hospital. With the complications of the pandemic this was deeply challenging work, both practically and emotionally, and it is to the great credit of our staff that we supported 166 patients being discharged from local hospitals during 2021/22.
Our PramaLife charity delivers a range of support and activities for and with older adults and carers across Christchurch, Bournemouth and Poole. PramaLife has developed a network of 60 support groups across the Bournemouth, Christchurch and Poole conurbation and East Dorset. These groups are organised on either a weekly, bi-weekly or monthly basis.
|**Type of**
**Group**|Social|Support for
people
dementia and
their carers|Exercise and
falls prevention|Craft and
gardening|Carers support|IT support|
|---|---|---|---|---|---|---|
|**Number of**
**Individual**
**Groups**|19|17|3|11|8|2|
|**Number of**
**Group**
**Sessions**
**Organised in**
**2021/22**|388|418|84|134|100|18|
|**Cumulative**
**Number of**
**Participants**|6,897|3,787|706|932|734|67|
## **Telephone Friendship Groups:**
Developed during the lockdown as a mitigation for loneliness and isolation These groups enable 3+ people to participate in the same telephone call. During 2021/22 there were 314 group sessions for a cumulative total of 1,737 participants.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Achievements and Performance (Continued)**
## **Support for carers in Bournemouth, Christchurch and Poole – the FOCUS scheme:**
PramaLife is funded by BCP Council to provide one to one voluntary and group support to carers to enhance their health and well-being. During 2021/22 we supported 73 carers doubling the number of carers we supported in the previous year. The groups include a male carers walking group, beach walks and coffee mornings for all carers.
## **East Dorset Voluntary Car scheme:**
This involves 18 voluntary car drivers providing journeys for older adults, mostly for hospital and other NHS appointments and social activities. During 2021/22 our volunteers provided 542 journeys for 549 passengers.
## **East Dorset Good Neighbours scheme:**
This involves volunteers visiting older adults in their homes to assist with one off household tasks, for example tuning a TV, changing light bulbs or helping with a specific task in the garden. PramaLife supported 19 households with tasks.
## **Working with the NHS to respond to immediate need amongst older adults and carers:**
January 2022 saw PramaLife develop two projects with colleagues from the Dorset HealthCare NHS Trust. One project focuses on helping patients who are being discharged form hospital or are receiving NHS support in the community with their non-clinical needs. For example, help with their welfare benefits, shopping or moving furniture to allow for new equipment to be installed. The other project focuses on supporting people who have been visited by the new NHS Urgent Community Response Team. The patient may have experienced for example a fall at home or have an infection and the aim is to prevent their admission to hospital. PramaLife’s role is to follow up on the visit from the paramedics ensuring that the patient is recovering and to signpost them to further support if required.
## **Intergenerational support:**
In December 2021, PramaLife took on the Yours Sincerely pen pal scheme from our partners the Community Action Network. This scheme involves 18 young volunteers writing to 21 older adults. This scheme enables the young volunteers to develop their skills and become aware of lives of older adults and for the latter it helps them to remain connected to the wider community.
Moving forward PramaLife gathered feedback from 202 carers/cared for people, which has highlighted considerable need. We have found out that carers from this community tend to start caring at an earlier age than the general population of carers, which means that they are juggling paid employment and their caring role and that there are specific issues around people seeking support and coping with mental health needs.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Future Projects and Activities**
We should never be afraid of ageing and the Prama Group will continue to focus on supporting people through the life course. The challenges and changes of an ageing population brings the opportunity to celebrate long life and the contribution that the older population have made. 2022 will celebrate the 40th anniversary of the founding of PramaCare. We have come so far but there is still so much to do!
The challenges of the pandemic are still being felt strongly and, having introduced new software during 2021/22 we will be focussing upon recruitment and retention of our Home Care Assistants as well as restructuring PramaCare to provide a more responsive service out of hours as well as developing an almost paper free administration system.
The Prama Foundation aspires to bring about long-term improvements in wellbeing across the ageing process, particularly for the most vulnerable, by creating connections across boundaries which deliver social, cultural and environmental value. We have a focus on strengthening dignity and independence, as well as social connections, in ageing societies. In the coming period this will be delivered through our Age Friendly Communities work with BP Council.
## **Age Friendly Communities:**
This year saw the Prama Foundation take a significant step forward in achieving one of our key strategic aims: Developing the conurbation of Bournemouth, Christchurch and Poole (BCP) as an internationally recognised Age Friendly Community.
We are doing this because both Prama and BCP Council aspire to our region to being world class, one of the best coastal places in the world in which to live, work, invest and play. We recognise that promoting good health and well-being within our communities is a fundamental part in achieving this aim, so Prama and BCP Council are committed to joining the World Health Organisation’s global network of Age-friendly communities.
Of the nearly 400,000 people that live in BCP 27% are over 60. That’s over 100,000 people and is amongst the oldest population, by percentage, of anywhere in the country. This brings the opportunity to be true leaders in showing other areas, in showing other churches, charities and businesses how to work with older adults so that communities thrive, and people of all ages come together and are celebrated.
For this reason, we have entered into a formal partnership with BCP Council and, in due course, charities, churches and businesses across the whole of BCP to develop an integrated approach to ageing, to help every single person in our area to age well; to enjoy later life, living with dignity, respect, self-worth and love. We are committed to developing a community in which all people can add years to their lives and life to their years.
At their full council meeting on 22 February 2022 the Leader of the Council Cllr Drew Mellor, in response to a question from our Chief Executive, Steve Robinson, committed BCP Council to registering BCP with the World Health Organisation as an Age Friendly Community. Cllr Mellor specifically acknowledged the support of the Prama Foundation and that our two organisations will be working jointly together in achieving Age Friendly Community status for BCP.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Future Projects and Activities (Continued)**
The process of registering BCP will, in the next five years see every aspect of our society become more inclusive to older people from all backgrounds, social class, income and status, including with:
- Social participation
- Respect and social inclusion
- Civic participation and employment
- Housing
- Transportation
- Outdoor spaces and public buildings
- Community support and health services
- Communication and information
Prama and BCP Council have each appointed a worker forming a team to undertake this realisation of our vision. Our joint approach with BCP Council will be supported by the direct involvement of older people in the process from the start. We will be developing several ways in which older people can share their aspirations, engage with the process and directly participate.
We are fortunate to have vibrant BAME and LGBT communities and want to build on this engagement to ensure that everyone is included.
We will work with all partners from across the statutory, voluntary, faith and private sectors.
Following the introduction of an Asset Based Community Development approach to BCP in 2021, the concept has been adopted by the Council as their primary method of community engagement going forward and we value the skills and capacity all community members will be able to offer in taking the next steps in achieving Age-friendly community status. Our emphasis will be on both strategic and practical steps - we want people to see tangible and sustainable successes as a result of this initiative.
We are looking forward to learning from fellow Age-friendly communities and sharing our practice.
## **Prama’s Pathways to Dignity**
Key to this will also be the principles that now lie at the heart of everything that Prama seeks to do; our Pathways to Dignity. Co-produced with older people themselves they state how our Christian basis manifests itself in our work. Eight core statements that are not a business plan or a financial model: it’s a statement of who we are, why we do what we do. It is about Prama supporting people, not just to stay alive but to thrive; to enjoy later life and to remain a part of the communities to which they wish to belong.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Future Projects and Activities (Continued)**
## **External Factors – how older people relate to the world**
## **Internal factors – how older people think view themselves**
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Future Projects and Activities (Continued)**
This then is the heart of Prama. This is what drives us forward because, not until every older person can claim the majority of those pathways as being true to them, can we say that our task is finished.
Having spoken at their conference in December 2021 we are pleased to have been asked to submit a presentation to the next International Federation of Ageing conference in 2023 on how we developed our model of Pathways to Dignity for older people. This will showcase our work as a model of excellence globally, bringing the opportunity to potentially influence the lives of many thousands of older people in accordance with our mission.
## **Wider work**
Due to the ongoing challenges of the Pandemic our wider work on issues such as Ageing Without Children, the wider networks of Age Friendly Communities, Ageing across the lifecourse, Intergenerational Practice and the Human Rights of Older People were considerably reduced in 2021/22. We intend to keep this lower profile in 2022-23 due to the post pandemic need to focus upon the delivery of both home care and also in setting up the systems that will establish BCP as a globally recognised Age Friendly Community, but intend to engage more fully, in accordance with our mission, when time allows. Despite our lower profile we were however able to have some input into the preparation process for the discussion at the United Nations on developing a Human Rights Instrument for Older People.
## **Prama’s Charity Shops**
During 2021/22 we saw a strong performance from our Charity shops, which are crucial in providing much needed funds to support our activities and help older adults and carers. This performance is even more impressive considering that we were coming out of the pandemic and lockdowns which had prevented us from having our shops open at the start of financial year.
Total income for the shops was £590,742 for 2021/22, producing a net suplus of £112,855: 19% of our income. The Charity retail association advised in 2019 that the aim for a charity shop should be a 15% surplus after all costs.
We have identified the following success factors which contribute to this strong performance:
- A committed and skilled staff and volunteers team: We have 18 employees and 68 volunteers running our shops. We focus on supporting our shop managers and their teams to understand the communities they are working in and their customer base. Particular attention is paid to supporting our volunteers, their skills are crucial to the success of the shops.
- E Commerce: The development of our eBay shop has also made a significant impact on our turnover figure. We aim to grow online sales over the next 2 years to provide £86k of income. We will do this by investing more in our eBay team so that we can engage with more eCommerce sites.
We used the time during the various lockdowns to re-imagine our retail offer, utilising the skills of our staff team, including their understanding of pre-loved, vintage and antique items. As a result of this planning our retail offer is more diverse and more focused on the needs of the communities where the shops are based. By March 2022 we were operating shops in the following communities: Ashley Cross (which is our premium pre-loved shop), Boscombe, Kinson, Parkstone, Nuffield Estate (Poole) Warehouse, Tuckton, and West Moors. We had also decided to open a new shop in Blandford.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Financial Review**
Following its incorporation on 18 May 2017, The Prama Foundation took ownership of the subsidiary companies for which it was created as parent. The charity was established with its own funds from within the group and the consolidated results include the subsidiaries' activities.
Following its incorporation, the charity received a gift of investments from its subsidiary PramaCare, which had previously been given to PramaCare as an expendable endowment to use for the expansion of activities that benefit older people. The broader objects of the Foundation are more compatible with the purpose of the endowment and the fund continues to provide a capital base for the charity.
The net result at 31st March 2022 for the charity leaves the expendable endowment fund with a balance of £40,390 (2020/21: £34,782), restricted reserves with a balance of £nil (2019/20: £329) and the unrestricted reserves at £160,810 (2020/21: £135,026).
The consolidated income and expenditure account shows funds carried forward of £1,508,568 at the end of the period (2020/21: £1,369,002), of which £201,200 relates to the charity (2020/21: £170,137). The net operating surplus for the charity was £31,063 for the period (2020/21 surplus of £40,457).
## **Results**
The results for the year, the state of the charity's affairs and transfers between the restricted and unrestricted funds are shown in the attached financial statements.
## **Fundraising**
The Prama Foundation undertakes its own fundraising activities and does not use the services of a professional fundraiser or commercial participator. In doing so it provides information to individuals who express an interest in donating to the charity or leaving a legacy but it does not directly canvass individuals for fundraising purposes. The charity has not at this time signed up to a voluntary fundraising regulation scheme or standard. During 2021/22, no complaints were received in respect of the charity's fundraising activities.
## **Investments**
The charity's investments are held in the Charities Property Fund managed by Savills Investment Management. During 2021/22, no withdrawals have been completed. At 31 March 2022 the investment units were valued at £40,390 (2020/21: £34,782). The fund has largely performed well in the past, during 2021/22 there was a gain on the underlying value of investments of £5,608 (2020/21: £860).
Other investments within the group are held in listed stocks and shares.
Currently the trustees' policy is to invest as much cash as is not needed for current working requirements with Evelyn Partners and allow the fund managers to choose investments for a balanced return with medium risk. There is currently no specific limitation for social, environmental or ethical investment purposes, the trustees have confirmed during 2021/22 that the nature of the investments held is consistent with the nature and purpose of the Prama Foundation.
## **Reserves policy**
During 2020/21, the trustees completed a full review of the reserves policy of The Prama Foundation and its charitable entities. During which, trustees confirmed that the ongoing requirement for reserves is to provide for the long term need for working capital as a result of the monthly invoicing cycle, provide for short term fluctuations in income from trading, donations and grants, and provide sufficient resource if the charity should close.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Financial Review (Continued)**
As a result of this review, trustees concluded that the group should hold reserves of £661,500 made up of the following amounts held by the individual charities: The Prama Foundation: £96,500 PramaCare: £475,000 PramaLife: £90,000
The charity's unrestricted and undesignated funds amount to £160,810 (2020/21: £135,026) and for the group £881,320 (2020/21: £626,149).
During 2021/22, the charity's unrestricted and undesignated funds reserves have improved significantly and as at the 31 March 2022, all the Prama charity entities are holding reserves at a level which exceed the amount set out in the reserves policy. The trustees have noted this and taken the view that these additional reserves will mitigate the business risks associated with the wider economic environment during 2022/23.
Note 27 to the accounts identifies those funds that can only be realised through the sale of tangible fixed assets and investments. The value of free reserves (the total of unrestricted and undesignated funds less functional assets) at 31 March 2022 amounted to £859,599 (2020/21: £593,001).
## **Fixed assets**
Full details of movements in tangible fixed assets are set out in note 18 to the financial statements. The Prama Foundation does not hold any fixed assets in its own name.
## **Sources of funding**
The charity derives its income from donations and grants from other charities and trusts. Further funds are generated in the group from charity shops selling donated goods, and from investment income. The charity shops are held in the subsidiary PramaCare but the trustees policy is to donate all profits to The Prama Foundation for wider use in the Prama Group.
Any profits generated from other charitable business operations in the group are normally retained within the relevant subsidiaries, PramaCare and PramaLife. From 1st April 2018 any profits generated by the trading subsidiaries PramaTrade and Prama Services are gifted to The Prama Foundation.
## **Remuneration policy**
None of the trustees receives any remuneration or benefits.
A number of management and administrative staff are jointly employed by The Prama Foundation and PramaCare and from 1st April 2018 staff costs have been apportioned to The Prama Foundation in respect of the management of the charity, oversight of group operations and fundraising.
The remuneration of the chief executive is set by the trustees, and other members of the senior management team by the chief executive, having regard to market rates, experience needed and the degree of responsibility held.
## **Employee Involvement**
The charity operates a Joint Consultative Committee which is attended by elected members of staff from different areas of the organisation, the chief executive officer and a trustee. This forum is used formally as a means of consultation and dissemination of information and meets three times per year.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Employee Involvement (Continued)**
The charity seeks to give full and fair consideration to all applications for employment made to the charity by disabled people and make efforts in respect of the continuing employment and training of employees who may become disabled while employed by the company. The charity seeks to introduce, maintain and develop arrangements involving employees, providing systematic relevant information, undertaking employee consultation and providing necessary training and career development to all staff members.
## **Structure, Governance and Management**
The organisation is a charitable company limited by guarantee, incorporated on 18th May 2017, and registered as a charity with the Charity Commission on 9th August 2017. The company was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under the terms of the Memorandum of Association each member of the company guarantees to contribute £10 towards the assets of the company in the event of its being wound up while he/she is a member, and towards the costs, charges and expenses of winding up. None of the trustees have any beneficial interest in the company.
The trustees, who are also directors for the purpose of company law, and who served during the year were: Mr N C Johnson Mr R Allam Mrs C C Campbell Mr R J Pringle Mr T P Sharp Mr D L F Cawdery Mrs N Lee Mr E T O Adamson (appointed 01/12/2021) Revd P L Southcombe (retired 08/09/2021) Mr C Bennett (appointed 23/06/2021)
The Prama Foundation has a board of directors which receives recommendations and information from four sub-committees focussing on:
- Finance and General Purposes
- Human Resources
- Care (The Board of PramaCare)
- PramaLife (The Board of PramaLife)
The chair of each committee is held by a director of The Prama Foundation and these make recommendations to the full Board of The Prama Foundation.
The directors, who are also charity trustees, establish policies that are then implemented by the Chief Executive officer (CEO) who is responsible for the employment of staff that carry out the objectives of the company.
New director/trustees are appointed following a review of skills by a nominations sub-committee. Each trustee elected meets with the CEO and then observes a board or sub-committee meeting before final decisions are taken on appointment. The nominations sub-committee report to the board. Persons considered to be able to offer particular expertise to the charity are given a Trustee Handbook and Strategic Plan and meet with the CEO to receive a full explanation of the purposes, ethos and practices of The Prama Foundation before being invited to serve on the board.
Day to day management of the charity is delegated to the CEO - Mr S Robinson and the senior management team.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Risk assessment**
Identification and reporting of risk has been strengthened through being a standing item at each of the sub-committees. A risk register is maintained to focus on specific areas of the organisation's activities and is reported to The Prama Foundation board on a regular basis. The Estates Manager is designated as Health and Safety officer.
The principal risks of the business relate to:
a) The global Covid-19 pandemic: The Foundation had added a pandemic to its risk register in 2019. Even though we did not anticipate the full impact of the pandemic this early decision enabled us to implement a range of plans to mitigate its impact, including the use of Personal Protection Equipment, infection control, remote working and the challenges of staff/volunteers needing to isolate.
b) Recruiting sufficient care staff to meet demand: As we come out of the pandemic we have been challenged to find that issues such as “long COVID” and delayed NHS referrals have created considerable additional demand for our care work. In order to address the challenge of recruiting and retaining good staff to meet this need we have recently created the new position of “Pastoral Support” for our teams in their first months in a new role.
c) Maintaining good governance: In common with many other charities it is challenging to find skilled and committed individuals to act as charity Trustees in an increasingly complex corporate environment and where the time required to exercise good governance is considerable. In 2016 we adopted the principles of best practice as recommended within the sector based on the Nolan Principles for public life and introduced robust standing orders to govern day to day business.
d) Maintaining funding streams: The Prama Foundation raises funds for its own activities from a variety of sources but is dependent on trading surpluses and voluntary income to cover the costs of administration and governance of the group. Financial performance and cash flow are monitored centrally to ensure that finances are managed effectively.
e) Newly acquired organisations taking time to establish themselves financially: During 2018 The Foundation invested £20k in the formation of a subsidiary company, Prama Travel, with a view to seeing the company develop as an income generator of unrestricted income in future years. There were considerable complications in the establishment of this company which was not able to start trading properly until November 2019 and trustees decided to suspend its work in early 2020. The project was not viable for re-establishment during the COVID-19 pandemic and, in 2021/22 has now been renamed Prama Services, and will be used to provide services such as training and community education in the coming years.
## **Public Benefit**
The trustees have given due regard to public benefit when planning the charity's activities, in accordance with sections G2 and G3 of the Charity Commission's General Guidance on Public Benefit (January 2010).
The paragraphs in this report set out our activities, achievements, and performance during the year, which are directly related to the objects and purposes for which the charity exists. The charity achieves its principal objects and purposes through care to any members of the public in the local community who have needs arising from a physical or psychological infirmity. These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit.
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Auditors**
Saffery Champness LLP are auditors to the charity and in accordance with Section 485 of the Companies Act 2006 the trustees will propose a motion re-appointing the auditors at their annual general meeting.
## **Disclosure of information to auditors**
Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
On behalf of the board of trustees
Mr N C Johnson, Chair
5[th] October 2022
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees, who are also directors of the Prama Foundation (Charitable Company Limited by Guarantee) for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **Opinion**
We have audited the financial statements of the Prama Foundation (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, Consolidated Statement of Financial Position, Charity Statement of Financial Position, Consolidated Statement of Cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the affairs of the group and the parent charitable company as at 31 March 2022 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company 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 group or the parent charitable company'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 auditor’s report 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.
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 course of 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
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT**
## **TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
misstatement of this other information we are required to report that fact.
We have nothing to report in this regard.
## **Other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees’ Responsibilities Statement set out on page 13, the trustees (who are also directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 group and the parent charitable company’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 charitable company or to cease operations, or have no realistic alternative to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
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 an auditor’s report 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.
____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT**
## **TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
## Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with management and updating our understanding of the sector in which the group and parent charitable company operate.
Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.
Further the group is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the charity’s operations. We identified the most significant laws and regulations to be those issued by the Care Quality Commission.
## Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT AUDITORS' REPORT**
## **TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **Use of our report**
This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Nicholas Fernyhough (Senior Statutory Auditor) for and on behalf of Saffery Champness LLP Chartered Accountants Midland House 2 Poole Road Bournemouth BH2 5QY
Statutory Auditors
Date: 16 November 2022
Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|||Unrestricted|Unrestricted|Restricted|Endowment|**Total**|Total|
|---|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|Funds|**2022**|2021|
|||General|Designated|||||
|**Income and Endowments from:**|Notes|£|£|£|£|**£**|£|
|Donations and legacies|3|472,970|-|24,538|-|**497,508**|598,396|
|Charitable activities|4|3,064,814|-|-|-|**3,064,814**|3,229,871|
|Other trading activities|5|590,767|-|-|-|**590,767**|414,238|
|Investments|6|3,221|-|-|-|**3,221**|3,016|
|Other income|7|2,265|-|-|-|**2,265**|2,515|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Total income and endowments**||4,134,037|-|24,538|-|**4,158,575**|4,248,036|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Expenditure on:**||||||||
|**Raising funds**|8|576,268|-|-|-|**576,268**|401,327|
|**Charitable activities**|9|3,309,291|29,561|115,173|-|**3,454,025**|3,576,380|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Total expenditure**||3,885,559|29,561|115,173|-|**4,030,293**|3,977,707|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Net income/(expenditure)**||||||||
|**from activities**||248,478|(29,561)|(90,635)|-|**128,282**|270,329|
|**Net gains on investments**|14|5,676|-|-|5,608|**11,284**|22,393|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Net income/(expenditure) before transfers**||254,154|(29,561)|(90,635)|5,608|**139,566**|292,722|
|**Transfers between funds**||1,017|6,157|(7,174)|-|**-**|-|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Net movements in funds**||255,171|(23,404)|(97,809)|5,608|**139,566**|292,722|
|**Fund balances at 1 April 2021**||626,149|590,013|118,058|34,782|**1,369,002**|1,076,280|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
|**Fund balances at 31 March 2022**||881,320|566,609|20,249|40,390|**1,508,568**|1,369,002|
|||--------------|--------------|--------------|--------------|**--------------**|--------------|
For Companies Act purposes, the charity surplus in the year was £31,060 (2020/21: £40,457).
__________________________________________________________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **CONSOLIDATED STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 MARCH 2022**_
||Notes|**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|---|
|||**2022**|2021|**2022**|2021|
|**Fixed Assets**||**£**|£|**£**|£|
|Property, Plant and Equipment|18|**567,890**|598,777|**-**|-|
|Investments|19|**197,556**|185,793|**40,394**|34,783|
|||**--------------**|--------------|**--------------**|--------------|
|||**765,446**|784,570|**40,394**|34,783|
|**Current assets**||||||
|Inventories|21|**6,243**|4,500|**-**|-|
|Trade and other receivables|22|**547,386**|393,892|**27,974**|58,956|
|Cash at bank and in hand||**718,158**|902,964|**161,761**|113,347|
|||**--------------**|--------------|**--------------**|--------------|
|||**1,271,787**|1,301,356|**189,735**|172,303|
|**Current Liabilities**||||||
|Amounts falling due within one year:|24|**(528,665)**|(666,924)|**(28,929)**|(36,949)|
|||**--------------**|--------------|**--------------**|--------------|
|**Net current assets**||**743,122**|634,432|**160,806**|135,354|
|||**--------------**|--------------|**--------------**|--------------|
|**Total assets less current liabilities**||**1,508,568**|1,419,002|**201,200**|170,137|
|Creditors: amounts falling due after 1 year|24|**-**|(50,000)|**-**|**-**|
|||**--------------**|--------------|**--------------**|--------------|
|**Net Assets**||**1,508,568**|1,369,002|**201,200**|170,137|
|||**--------------**|--------------|**--------------**|--------------|
|**Capital funds**||||||
|Expendable Endowment funds|27|**40,390**|34,782|**40,390**|34,782|
|**Income funds**||||||
|Restricted funds|27|**20,249**|118,058|**-**|329|
|||**--------------**|--------------|**--------------**|--------------|
|||**60,639**|152,840|**40,390**|35,111|
|||**--------------**|--------------|**--------------**|--------------|
|Unrestricted funds:||||||
|Designated funds||**566,609**|590,013|**-**|-|
|Other charitable funds||**881,320**|626,149|**160,810**|135,026|
|||**--------------**|--------------|**--------------**|--------------|
|||**1,447,929**|1,216,162|**160,810**|135,026|
|||**--------------**|--------------|**--------------**|--------------|
|**Total funds**||**1,508,568**|1,369,002|**201,200**|170,137|
|||**--------------**|--------------|**--------------**|--------------|
The accounts were approved by the trustees on 5th October 2022
**Mr N C Johnson, Chair Company Registration No. 10778305**
_____________________________________________________________________________________
- 19 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF CONSOLIDATED CASH FLOWS**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
||**Group**|Group|
|---|---|---|
||**2022**|2021|
||**£**|£|
|**Cash flows from operating activities:**|||
|Cash (absorbed by)/generated from operations (Note 33)|**(133,951)**|731,453|
||**--------------**|--------------|
|**Cash flows from investing activities**|||
|Dividends and interest received|**3,221**|3,016|
|Purchase of equipment|**(4,076)**|(11,406)|
|Proceeds from the sale of fixed assets|**-**|7,900|
|Purchase of investments|**-**|(5,722)|
|(Repayment)/receipt of Bounce-back loan|**(50,000)**|50,000|
||**--------------**|**--------------**|
|Net cash (used in)/provided by investing activities|**(50,855)**|43,788|
||**--------------**|**--------------**|
|Change in cash and cash equivalents in the reporting period|**(184,806)**|775,241|
|Cash and cash equivalents at 1st April 2021|**902,964**|127,723|
||**--------------**|**--------------**|
|Cash and cash equivalents 31st March 2022|**718,158**|902,964|
||**--------------**|**--------------**|
_____________________________________________________________________________________
- 20 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## 1 **Accounting policies**
## **Company information**
The Prama Foundation (Charitable Company Limited by Guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole, Dorset BH15 2AA.
## 1.1 **Accounting convention**
These accounts have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102'), 'Accounting and Reporting by Charities' the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a public benefit entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## 1.2 **Basis of consolidation**
The consolidated accounts consolidate the accounts of the charity and its subsidiary undertakings for the year ended 31 March 2022.
The Prama Foundation is the sole member of PramaCare, PramaLife, PramaTrade Limited and Prama Travel Limited.
No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus for the financial year of £31,060 (2020/21: £40,457).
## 1.3 **Going concern**
At the time of approving the accounts, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue and thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## 1.4 **Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Endowment funds comprise funds which are retained for the benefit of the charity as a capital fund. Where the trustees have a power to convert endowed capital into income, these funds are expendable endowments.
___________________________________________________________________________________
- 21 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Accounting policies (Continued)**
## 1.5 **Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known the legacy is treated as a contingent asset.
Gifts in kind and donated facilities are recognised as income, if a value can be reliably measured, at the value to the charity when received. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers, including professional services provided directly by volunteers.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
## 1.6 **Resources expended**
Expenditure is recognised on an accruals basis. Expenditure has been allocated according to the Statement of Recommended Practice 'Accounting and Reporting by Charities'.
Resources expended attributable to each of raising of funds and charitable activities are allocated to cost categories for each. Where expenses are attributable to more than one of these, the cost category is split on the basis of estimates by the charity's management. Wages are apportioned based on employees' roles and time spent.
## 1.7 **Intangible assets**
Intangible assets are initially measured at cost and subsequently measured at cost, net of amortisation and any impairment losses.
Amortisation is recognised so as to write off the cost or valuation of the asset over 10 years on a straight line basis.
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Accounting policies (Continued)**
## 1.8 **Property, plant and equipment**
Property, plant and equipment are initially measured at cost, and subsequently measured at cost, net of depreciation and any impairment losses.
Items are capitalised when their individual value is greater than £500.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land is not depreciated Freehold buildings Over 15 years straight line Leasehold property Over 50 years straight line, or if the term of lease or option to break is less, over the remaining term or period to the break date Shop fixtures and fittings 20% straight line basis Furniture and equipment 15% reducing balance basis Motor vehicles 25% reducing balance basis Computer equipment 33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## 1.9 **Non-current investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Transaction costs are expensed as incurred.
Investments in subsidiaries are valued at cost less provision for impairment.
## 1.10 **Impairment of non-current assets**
At each reporting end date the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
## 1.11 **Inventories**
Inventories are stated at the lower of cost, on a first in first out basis, and estimated selling price less costs to complete and sell.
____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Accounting policies (Continued)**
## 1.12 **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## 1.13 **Financial instruments**
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Other financial assets**
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and changes in fair value are recognised in net income/(expenditure)
## **Impairment of financial assets**
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
The impairment loss is recognised in net income/(expenditure) for the year.
## **Basic financial liabilities**
Basic financial liabilities, including trade and other payables and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Concessionary loans are initially recognised at the amount received. Subsequently the loans are adjusted for any applicable repayments or interest.
## 1.14 **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate employment of an employee or to provide termination benefits.
____________________________________________________________________________________
- 24 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Accounting policies (Continued)**
## 1.15 **Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## 1.16 **Leases**
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
## 2 **Critical accounting estimates and judgements**
In the application of the charity's accounting policies the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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. On 23 June 2021, the trustees of the Prama Foundation considered the extant approach to capitalising assets. It was decided that the existing policy of a limit of £250 below which items are not capitalised should be revised to "Items are capitalised when their individual value is greater than £500". This change was been applied to assets purchased during the 2020/21 year and in subsequent years.
## 3 **Donations and legacies**
||||**2022**|||2021|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|**Total**|Unrestricted|Restricted|Total|
||Funds|Funds||Funds|Funds||
||£|£|**£**|£|£|£|
|Donations and gifts|338,636|24,538|**363,174**|227,382|15,817|243,199|
|Legacies receivable|18,491|**-**|**18,491**|74,628|**-**|74,628|
|Government grants|115,843|**-**|**115,843**|280,569|**-**|280,569|
||--------------|--------------|--------------|--------------|--------------|--------------|
||472,970|24,538|**497,508**|582,579|15,817|598,396|
||**--------------**|**--------------**|--------------|**--------------**|**-------------- **|**--------------**|
_____________________________________________________________________________________
- 25 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|4|**Charitable activities**|**2022**|2021|
|---|---|---|---|
|||**£**|£|
||**Provision of domiciliary care services**|||
||Private clients|**2,768,775**|2,909,913|
||Local Authority|**285,038**|319,958|
||**Community activites**|||
||Community activities|**11,001**|-|
|||**--------------**|**--------------**|
|||**3,064,814**|3,229,871|
|||**--------------**|**--------------**|
|5|**Other trading activities**|||
|||**2022**|2021|
|||**£**|£|
||Charity shops and community activities|**559,662**|100,906|
||Grants from Government in respect of Charity Shops|**31,080**|313,332|
||Training services|**25**|-|
|||**--------------**|**--------------**|
|||**590,767**|414,238|
|||**--------------**|**--------------**|
|6|**Investments**|||
|||**2022**|2021|
|||**£**|£|
||Income from listed investments|**1,787**|1,635|
||Income from charity investments|**1,434**|1,381|
|||**--------------**|--------------|
|||**3,221**|3,016|
|||**--------------**|--------------|
|7|**Other income**|**2022**|2021|
|||**£**|£|
||Miscellaneous income|**2,265**|2,515|
|||**--------------**|**--------------**|
____________________________________________________________________________________
- 26 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|8|**Expenditure on raising funds**|**2022**|2021|
|---|---|---|---|
|||**£**|£|
||**Fundraising and publicity**|||
||Staff costs|**56,280**|44,083|
||Other fundraising costs|**3,108**|8,396|
|||**--------------**|**--------------**|
|||**59,388**|52,479|
|||**--------------**|**--------------**|
||**Fundraising trading: costs of goods sold and other costs**|||
||Operating charity shops|**474,174**|348,848|
||Training services|**42,706**|-|
|||**--------------**|**--------------**|
|||**516,880**|348,848|
|||**--------------**|**--------------**|
||**Total**|**576,268**|401,327|
|||**--------------**|**--------------**|
All of the expenditure detailed above in both 2021/22 and the comparative year, 2020/21, was unrestricted.
|9|**Expenditure on charitable activities**|||
|---|---|---|---|
|||**2022**|2021|
|||**£**|£|
||**Provision of care services**|||
||Staff costs|**2,091,430**|2,192,023|
||Staff travel and expenses|**200,924**|205,364|
||Office and other expenses|**42,995**|70,432|
||Care fees subsidy scheme|**10,041**|14,514|
||**Facilitation of community groups and activities**|||
||Staff costs - community facilitation|**189,221**|142,620|
||Community activity expenses|**80,643**|7,620|
||Other activity and project costs|**18,675**|5,967|
||Bus Service Expenses|**-**|506|
|||**--------------**|**--------------**|
|||**2,633,929**|2,639,046|
||Support costs (note 10)|**795,815**|911,878|
||Governance costs (note 11)|**24,281**|25,456|
|||**--------------**|**--------------**|
|||**3,454,025**|3,576,380|
|||**--------------**|**--------------**|
||**Analysis by fund**|||
||Unrestricted funds - general|**3,309,291**|3,539,966|
||Unrestricted funds - designated|**29,561**|-|
||Restricted funds|**115,173**|36,414|
|||**--------------**|--------------|
|||**3,454,025**|3,576,380|
|||**--------------**|--------------|
_____________________________________________________________________________________
- 27 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|10|**Support costs**|**2022**|2021|
|---|---|---|---|
|||**£**|£|
||Staff costs - management and administration|**436,953**|521,636|
||Travel costs - management and administration|**1,190**|2,175|
||Rent|**15,914**|11,742|
||Heat light and water|**7,684**|7,190|
||Repairs and maintenance|**30,167**|48,874|
||Insurance|**19,006**|17,265|
||Miscellaneous expenses|**1,349**|45,236|
||Computer expenses|**85,414**|73,803|
||Printing postage and stationery|**39,857**|38,196|
||Advertising|**41,811**|5,938|
||Archive storage|**3,267**|3,173|
||Telephone|**14,874**|12,133|
||Professional fees|**18,540**|18,148|
||Staff - other costs|**36,057**|21,823|
||Staff costs - training|**-**|33,088|
||Expenses - training|**9,485**|13,532|
||Loss on sale of fixed assets|**-**|641|
||Depreciation|**34,963**|37,285|
||Write back of provision for doubtful debts|**(716)**|-|
|||**--------------**|--------------|
|||**795,815**|911,878|
|||**--------------**|--------------|
|11|**Governance costs**|**2022**|2021|
|||**£**|£|
||Audit fees|**15,738**|15,546|
||Bank charges and interest|**6,000**|5,185|
||Legal and professional|**2,543**|4,725|
|||**--------------**|--------------|
|||**24,281**|25,456|
|||**--------------**|--------------|
## 12 **Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits. No trustees received any expenses during the year (2020/21: £nil).
_____________________________________________________________________________________
- 28 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## 13 **Employees**
## **Number of employees**
The average weekly number of employees during the year was:
||**2022**|2021|**2022**|2021|
|---|---|---|---|---|
||**Headcount**|Headcount|**Full time**|Full time|
||||**equivalent**|equivalent|
|Direct charitable activities|**155**|180|**67**|69|
|Trading activities|**17**|19|**11**|9|
|Fundraising|**1**|1|**1**|1|
|Management and administration|**41**|43|**34**|33|
||**--------------**|--------------|**--------------**|--------------|
||**214**|243|**113**|112|
||**--------------**|--------------|**--------------**|--------------|
|**Employment costs**|||||
||||**2022**|2021|
||||**£**|£|
|Wages and salaries|||**2,811,669**|2,909,704|
|Social security costs|||**171,177**|151,146|
|Other pension costs|||**56,962**|52,730|
||||**--------------**|--------------|
||||**3,039,808**|3,113,580|
||||**--------------**|--------------|
|The number of employees whose annual remuneration was|||||
|£60,000 or more were:|||**2022**|2021|
||||**number**|number|
|£80,000 - £90,000|||**1**|-|
|£70,000 - £80,000|||**-**|1|
||||--------------|--------------|
Contributions totalling £3,901 (2020/21: £3,751) were made to defined contribution pension schemes on behalf of employees whose emoluments exceeded £60,000.
_____________________________________________________________________________________
- 29 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|14|**Net gains on investments**|**Net gains on investments**|||||
|---|---|---|---|---|---|---|
||||Unrestricted|Endowment|**2022**|2021|
||||funds|funds|||
||||£|£|**£**|£|
||Revaluation of investments||5,676|5,608|**11,284**|22,393|
||||--------------|--------------|**--------------**|--------------|
||||5,676|5,608|**11,284**|22,393|
||||--------------|--------------|**--------------**|--------------|
|15|**Net income from activities**||||**2022**|2021|
||||||**£**|£|
||Net income from activities is stated after charging:||||||
||Depreciation||||**34,963**|37,285|
||Amortisation||||**-**|-|
||Loss on disposal of fixed|assets|||**-**|641|
||Auditors remuneration|- audit fees current year|||**15,224**|15,206|
|||- audit fees prior years|||**514**|628|
|||- other services|||**2,160**|1,836|
||||||--------------|--------------|
## 16 **Taxation**
The following group companies are exempt from taxation due to their charitable status: The Prama Foundation
PramaCare PramaLife
## 17 **Intangible assets**
The group / charity has no intangible assets.
_____________________________________________________________________________________
- 30 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|18|**Property, Plant**|**and Equipment**|**and Equipment**|||||||
|---|---|---|---|---|---|---|---|---|---|
|||Freehold|Computer|Leasehold|Leasehold|Shop|Furniture|Motor|**Total**|
|||property|equipment|property|property|fixtures &|and|vehicles||
|||and|& software|long term|short term|fittings|equipment|||
|||alterations||||||||
|||£|£|£|£|£|£|£|**£**|
||Cost|||||||||
||At 1 April 2021|765,946|47,709|62,043|27,022|24,983|44,191|8,615|**980,509**|
||Additions|2,066|636|-|1,374|-|-|-|**4,076**|
||Disposals|-|-|-|(14,005)|-|-|-|**(14,005)**|
|||--------------|--------------|--------------|--------------|--------------|----------------------------||**--------------**|
||At 31 March|768,012|48,345|62,043|14,391|24,983|44,191|8,615|**970,580**|
||2022|--------------|--------------|--------------|--------------|--------------|----------------------------||**--------------**|
||Depreciation|||||||||
||At 1 April 2021|239,489|40,186|22,872|19,124|24,857|29,618|5,586|**381,732**|
||Charged|20,284|5,654|1,241|4,552|126|2,349|757|**34,963**|
||Disposals|-|-|-|(14,005)|-|-|-|**(14,005)**|
|||--------------|--------------|--------------|--------------|--------------|----------------------------||**--------------**|
||At 31 March|259,773|45,840|24,113|9,671|24,983|31,967|6,343|**402,690**|
||2022|--------------|--------------|--------------|--------------|--------------|----------------------------||**--------------**|
||Net book value|||||||||
||31 March 2022|**508,239**|**2,505**|**37,930**|**4,720**|**-**|**12,224**|**2,272**|**567,890**|
|||--------------|--------------|--------------|--------------|--------------|----------------------------||**--------------**|
||31 March 2021|526,457|7,523|39,171|7,898|126|14,573|3,029|**598,777**|
|||--------------|--------------|--------------|--------------|--------------|----------------------------||--------------|
The carrying value of land included in freehold property at 31 March 2022 was £258,941.
The charity has fixed assets of £nil.
The trustees have assessed the value in use of the property to the charity as being the carrying value.
Commitments:
There were no capital commitments at 31 March 2022.
_____________________________________________________________________________________
- 31 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|19|**Investments**|||||
|---|---|---|---|---|---|
|||**Group**|Group|**Charity**|Charity|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Unit Trusts and Bonds|**115,331**|109,958|**-**|**-**|
||Listed Securities|**32,910**|32,610|**-**|**-**|
||Commercial Property Fund|**40,392**|34,781|**40,392**|34,781|
||Cash|**8,923**|8,444|**-**|-|
||Shares in group undertakings|||||
||PramaTrade Limited|**-**|-|**1**|1|
||Prama Services Limited|**-**|-|**1**|1|
|||**--------------**|--------------|**--------------**|--------------|
|||**197,556**|185,793|**40,394**|34,783|
|||--------------|--------------|**--------------**|**--------------**|
## **Fixed asset investments revalued**
All investments are carried at fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in unit trusts are at bid price.
The investments are held to provide a medium risk return for the charity whilst maintaining capital value. The portfolio is managed by specialists and covers a spread of sectors in order to minimise the impact of fluctuations in markets globally.
The Expendable Endowment Fund is invested in a professionally managed commercial property fund. Disposal is subject to the rules of the fund but there is a strong demand for units and short term liquidity is considered to be low risk.
||**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|
||**2022**|2021|**2022**|2021|
|**Movements in non-current investments**|**£**|£|**£**|£|
|Market value at 1 April|**185,793**|162,748|**34,783**|35,643|
|Acquisitions at cost|**-**|5,628|**-**|-|
|Income accumulations|**43**|94|**-**|-|
|Change in value in the year|**11,241**|22,393|**5,608**|(860)|
|Net movement in cash|**479**|(5,070)|**-**|-|
||**--------------**|--------------|**--------------**|--------------|
|Market value at 31 March|**197,556**|185,793|**40,391**|34,783|
||**--------------**|--------------|**--------------**|--------------|
|**Carrying amount**|||||
|At 31 March|**197,556**|185,793|**40,391**|34,783|
||**--------------**|--------------|**--------------**|--------------|
|**Historical cost**|||||
|At 31 March|**144,594**|141,486|**40,383**|37,794|
||**--------------**|--------------|**--------------**|--------------|
The significance of financial instruments to the ongoing sustainability of the charity is considered in the Trustees' Report.
_____________________________________________________________________________________
- 32 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|20|**Financial instruments**|**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|---|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Carrying amount of financial assets at fair value|||||
||through profit and loss|**197,556**|185,793|**40,392**|34,781|
|||**--------------**|--------------|**--------------**|--------------|
|21|**Inventories**|**Group**|Group|**Charity**|Charity|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Finished goods and goods for resale|**6,243**|4,500|**-**|-|
|||**--------------**|--------------|**--------------**|--------------|
|22|**Trade and other receivables**|||||
|||**Group**|Group|**Charity**|Charity|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Amounts falling due within one year|||||
||Trade receivables|**399,001**|88,701|**-**|-|
||Other receivables|**50,020**|94,551|**402**|470|
||Prepayments and accrued income|**98,365**|210,640|**1,933**|2,708|
||Amounts owed by group undertakings|**-**|-|**5,639**|35,778|
||Loans to group undertakings|**-**|-|**20,000**|20,000|
|||**--------------**|--------------|**--------------**|--------------|
|||**547,386**|393,892|**27,974**|58,956|
|||**--------------**|--------------|**--------------**|--------------|
|23|**Borrowings**|**Group**|Group|**Charity**|Charity|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Concessionary loan payable within one year|**250,000**|250,000|**-**|-|
||Bounceback Loan|**-**|50,000|**-**|-|
|||**--------------**|--------------|**--------------**|--------------|
|||**250,000**|300,000|**-**|**-**|
|||**--------------**|--------------|**--------------**|--------------|
The loan of £250,000 from the Valentine Charitable Trust has no set repayment date. There is no interest payable during the term of the loan and there are no instalments due. Repayment will be the greater of £250,000 or 41.67% of the value of the property at the time of repayment. This loan is secured against the freehold property.
The loan of £50,000 related to a government backed "bounce back" loan in the name of PramaLife. The loan was obtained to mitigate the risk of uneven cashflows during the pandemic. The loan was repaid before interest accrued.
_____________________________________________________________________________________
- 33 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|24|**Liabilities**|**Group**|Group|**Charity**|Charity|
|---|---|---|---|---|---|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||**Amounts falling due within one year:**|||||
||Borrowings (Note 23)|**250,000**|250,000|**-**|-|
||Trade payables|**59,045**|170,743|**4,591**|2,321|
||Taxes and Social Security costs|**43,181**|37,051|**-**|-|
||Other payables|**57,054**|43,055|**-**|100|
||Accruals and deferred income|**119,385**|166,075|**4,338**|5,626|
||Amounts owed to group undertakings|**-**|-|**20,000**|28,902|
|||**--------------**|--------------|**--------------**|--------------|
|||**528,665**|666,924|**28,929**|36,949|
||**Amounts falling due after more than one year:**|||||
||Borrowings (Note 23)|**-**|50,000|**-**|**-**|
|||**--------------**|--------------|**--------------**|--------------|
|||**528,665**|716,924|**28,929**|36,949|
|||**--------------**|--------------|**--------------**|--------------|
|25|**Pension**|||||
||The company operates a defined contribution scheme.|||||
|||**Group**|Group|**Charity**|Charity|
|||**2022**|2021|**2022**|2021|
|||**£**|£|**£**|£|
||Contributions paid in year|||||
||Care services|**43,383**|43,522|**-**|-|
||Community centre and activities|**9,818**|8,555|**4,423**|3,503|
||Trading activities|**3,411**|-|**-**|-|
|||**--------------**|--------------|**--------------**|--------------|
|||**56,612**|52,077|**4,423**|3,503|
|||**--------------**|--------------|**--------------**|--------------|
The contributions are all allocated to unrestricted funds.
## 26 **Related parties**
## **Control**
Throughout the period, The Prama Foundation was controlled ultimately by its members who meet annually at the Annual General Meeting. The Board of Directors and Trustees elected by the members governs the affairs of the charitable company between Annual General Meetings.
## **Transactions**
During the year no related party transactions occurred. Other transactions with the trustees are set out in note 12.
The total remuneration and benefits of the Senior Management Team amounted to £194,841 (2020/21: £198,637).
_____________________________________________________________________________________
- 34 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## 27 **Analysis of funds - 2020/21 Prior Year Comparative**
||Balance at|Income in|Expenditure|Gains on|Transfers|**Balance at**|
|---|---|---|---|---|---|---|
||1.4.2020|year|in year|investments||**31.3.2021**|
||£|£|£|£|£|**£**|
|**Capital Funds**|||||||
|Expendable endowment funds|||||||
|Greenhill Fellowship Trust|35,642|-|-|(860)|-|**34,782**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
|**Income Funds**|||||||
|Designated funds:|||||||
|Fixed asset fund|335,152|-|-|-|(19,524)|**315,628**|
|Mortgage repayment fund|198,852|-|-|-|25,533|**224,385**|
|Digitisation of Care fund|-|-|-|-|50,000|**50,000**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
||534,004|-|-|-|56,009|**590,013**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
|General funds:|||||||
|Unrestricted funds|365,597|4,232,219|(3,941,293)|23,253|(53,627)|**626,149**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
|Restricted funds:|||||||
|Home Safely project|2,096|-|(1,446)|-|-|**650**|
|Sporting memories project|1,272|817|(62)|-|-|**2,027**|
|Memory clubs|803|-|(803)|-|-|**-**|
|Magic table fund|1,562|-|(127)|-|-|**1,435**|
|Ferndown conversation|1,033|-|-|-|(1,033)|**-**|
|Carers support groups|441|-|-|-|(441)|**-**|
|Befriending scheme|1,115|-|-|-|-|**1,115**|
|Healthwatch|700|-|-|-|(700)|**-**|
|Sorted in Dorset|732|-|-|-|-|**732**|
|Co-Operative Community Grant|7,157|-|-|-|-|**7,157**|
|PramaLife Development|755|-|-|-|-|**755**|
|Reaching Communities|63,546|-|(19,347)|-|(208)|**43,991**|
|Valentine Trust|-|15,000|(7,402)|-|-|**7,598**|
|Cancer Awareness|2,426|-|(2,426)|-|-|**-**|
|Old Rope Walk Refurb.|43,075|-|-|-|-|**43,075**|
|End of life training|8,485|-|-|-|-|**8,485**|
|Broadcasting project|5,000|-|(4,671)|-|-|**329**|
|Registered Managers Network|840|-|(130)|-|-|**710**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
||141,038|15,817|(36,414)|-|(2,382)|**118,058**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
|**Total funds**|**1,076,281**|**4,248,036**|**(3,977,707)**|**22,393**|**-**|**1,369,002**|
||--------------|--------------|--------------|--------------|--------------|**--------------**|
_____________________________________________________________________________________
- 35 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|27|**Analysis of funds - 2021/22 Current Year**|**Analysis of funds - 2021/22 Current Year**||||||
|---|---|---|---|---|---|---|---|
|||Balance at|Income in|Expenditure|Gains on|Transfers|**Balance at**|
|||1.4.2021|year|in year|investments||**31.3.2022**|
|||£|£|£|£|£|**£**|
||**Capital Funds**|||||||
||Expendable endowment funds|||||||
||Greenhill Fellowship Trust|34,782|-|-|5,608|-|**40,390**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
||**Income Funds**|||||||
||Designated funds:|||||||
||Fixed asset fund|315,628|-|-|-|(19,458)|**296,170**|
||Mortgage repayment fund|224,385|-|-|-|25,615|**250,000**|
||Digitisation of Care fund|50,000|-|(29,561)|-|-|**20,439**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
|||590,013|-|(29,561)|-|6,157|**566,609**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
||General funds:|||||||
||Unrestricted funds|626,149|4,134,037|(3,885,559)|5,676|1,017|**881,320**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
||Restricted funds:|||||||
||Home Safely project|650|-|(632)|-|(18)|**-**|
||Sporting memories project|2,027|-|(402)|-|-|**1,625**|
||Magic table fund|1,435|-|(152)|-|-|**1,283**|
||Befriending scheme|1,115|-|(4)|-|-|**1,111**|
||Sorted in Dorset|732|-|-|-|-|**732**|
||Co-Operative Community Grant|7,156|-|-|-|(7,156)|**-**|
||PramaLife Development|755|-|-|-|-|**755**|
||Reaching Communities|43,991|-|(38,443)|-|-|**5,548**|
||Valentine Trust|7,598|15,000|(22,598)|-|-|**-**|
||Old Rope Walk Refurb.|43,075|9,538|(52,613)|-|-|**-**|
||End of life training|8,485|-|-|-|-|**8,485**|
||Broadcasting project|329|-|(329)|-|-|**-**|
||Registered Managers Network|710|-|-|-|-|**710**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
|||118,058|24,538|(115,173)|-|(7,174)|**20,249**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
||**Total funds**|**1,369,002 **|**4,158,575**|**(4,030,293)**|**11,284**|**-**|**1,508,568**|
|||--------------|--------------|--------------|--------------|--------------|**--------------**|
## **Expendable Endowment Funds**
The Greenhill Fellowship Trust Fund represents a gift of investments, the income from which is to be used to support charitable activities that enhance the quality of life for the charity's clients and other vulnerable adults in the Dorset area, and family members who are caring for them. The capital may be used at the discretion of the trustees.
_____________________________________________________________________________________
- 36 -
## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
- 27 (Continued)
## **Designated funds**
The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the trustees to ensure that the charity has adequate funding for future requirements:
## Fixed Asset Fund
An amount equal to the net book value of freehold and long term leasehold assets less the long term funding of PramaCare's freehold property. The transfer from general funds during the year accounts for the net additions to fixed assets less the depreciation charged.
## Mortgage repayment fund
An amount set aside to provide the funds necessary to repay the long term funding of PramaCare's freehold property. An amount is being transferred from general funds each year to build up a fund of £250,000 by 31st March 2022.
## Digitisation of Care Fund
An amount set aside to provide the funds necessary to cover the set up costs of the Digitisation of Care project.
## **Restricted funds**
The income funds of the group include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.
- a) Home Safely project: This provides specially formatted identity bracelets to people with dementia, if they are unable to find their way home the police can locate their carers.
- b) Sporting Memories project: This is for regular activities to support older people who are lonely and/or isolated or have dementia.
- c) Memory clubs: This is funding received for the development of a support group and good practice: "Museum Memories" for people experiencing memory loss.
- d) Magic Table Fund: This is a fund set up for local people to donate to for the purchase and maintenance of a “Magic Table” display unit for people with dementia in the Wimborne area.
- e) Ferndown Conversation: This grant was received to fund a community wide discussion on issues affecting older people and vulnerable people in Ferndown and to implement subsequent activities.
- f) Carer Support Groups: This fund provides ongoing facilitation and support to family members across Dorset who are caring for people with dementia.
- g) Befriending scheme: This project supports lonely older people with volunteers.
- h) Healthwatch: This funds training for people who may be vulnerable to falling and how best to mitigate this.
- i) Sorted in Dorset: This was funding PramaLife raised at the Sorted in Dorset event and will be used to develop the new kitchen at Old Rope Walk, please see also below.
- j) Co-Operative Community Grant: This is a grant from the Co-Op originally awarded to assist us in purchasing a new mini bus. We are no longer purchasing a mini bus and the Co-Op have given permission for this grant to be used to purchase other assets which allow the charity to meet its objectives.
- k) PramaLife development: This is a general fund for development of PramaLife activities.
- l) Reaching Communities: We were awarded a £100,000 grant by the Big Lottery in 2019, to develop a network of support groups and activities for older people and carers in Bournemouth between 2019/21.
- m) Valentine Trust: A grant to fund PramaLife activities in Poole supporting older people and carers.
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## 27 (Continued)
- n) Cancer Awareness: A grant from Action Hampshire to promote cancer awareness to older people in the BCP and East Dorset areas, including older people with learning disabilities.
- o) Old Rope Walk Refurbishment: This fund comprises of 4 grants from Awards for All (£9,435), the Morrisons Foundation (£17,000), BCP Council Community Infrastructure Levy (£23,600) and the Rank Foundation (£750). These funds are being invested in renovating the kitchen at Old Rope Walk, Poole a major hub for PramaLife activity and also IT equipment for the use of all older people.
- p) End of life training: This fund is to be to train staff in end of life
- q) Broadcasting project: The Prama Foundation previously worked with Hope FM to promote the experiences of older people and its services on the radio. The remaining funds will be used to extend this develop communications with the core groups that the charity serves.
- r) Registered Managers network - this fund is used to provide coordination of a peer network amongst Registered Care Managers in Dorset.
## 28 **Analysis of net assets between funds**
||Unrestricted|Designated|Restricted|Endowment|**Total**|
|---|---|---|---|---|---|
|**The Prama Foundation Group**|funds|funds|funds|funds||
|**2020/21 - Prior Year Comparative**|£|£|£|£|**£**|
|Fund balances at 31 March 2021 were||||||
|represented by:||||||
|Tangible fixed assets|33,149|565,628|**-**|**-**|598,777|
|Investments|-|151,010|**-**|34,782|185,792|
|Current assets|1,059,924|123,375|118,058|**-**|1,301,357|
|Creditors (amounts falling due|(416,924)|(250,000)|**-**|**-**|(666,924)|
|within one year)||||||
|Creditors (amounts falling due|(50,000)|-|-|**-**|(50,000)|
|after one year)||||||
||--------------|--------------|--------------|--------------|--------------|
||626,149|590,013|118,058|34,782|1,369,002|
|**The Prama Foundation Group**|--------------|--------------|--------------|--------------|--------------|
|**2021/22 - Current Year**||||||
|Fund balances at 31 March 2022 are||||||
|represented by:||||||
|Tangible fixed assets|21,720|546,170|**-**|**-**|**567,890**|
|Investments|3|157,163|**-**|40,390|**197,556**|
|Current assets|1,138,261|113,277|20,249|**-**|**1,271,787**|
|Creditors (amounts falling due|(278,665)|(250,000)|**-**|**-**|**(528,665)**|
|within one year)||||||
||--------------|--------------|--------------|--------------|**--------------**|
||881,319|566,610|20,249|40,390|**1,508,568**|
||--------------|--------------|--------------|--------------|--------------|
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|28|(Continued)
Unrestricted
Designated
Restricted
Endowment
**Total**
**The Prama Foundation Charity**
funds
funds
funds
funds
**2020/21 - Prior Year Comparative**
£
£
£
£
**£**
Fund balances at 31 March 2021 were
represented by:
Investments
-
-
**-**
34,783
34,783
Current assets
171,974
**-**
329
**-**
172,303
Creditors (amounts falling due
(36,949)
-
**-**
**-**
(36,949)
within one year)
--------------
-------------- --------------
--------------
--------------
135,025
-
329
34,783
170,137
--------------
-------------- --------------
--------------
--------------
**The Prama Foundation Charity**
**2021/22 - Current Year**
Fund balances at 31 March 2022 are
represented by:
Investments
-
-
**-**
40,394
**40,394**
Current assets
189,735
**-**
-
**-**
**189,735**
Creditors (amounts falling due
(28,929)
-
**-**
**-**
**(28,929)**
within one year)
--------------
-------------- --------------
--------------
**--------------**
160,806
-
-
40,394
**201,200**
--------------
-------------- --------------
--------------
--------------|
|---|---|
## 29 **Contingent liabilities**
PramaCare has an obligation to repay the loan from the Valentine Charitable Trust (see note 23) at the higher of £250,000 or 41.67% of the value of the property, Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole. In view of additional expenditure on the property by the Charity, the trustees of the Valentine Charitable Trust have agreed to review the percentage payable in light of advice from professional valuers before repayment.
## 30 **Commitments under operating leases**
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
||Land and|Other|**Total**|Total|
|---|---|---|---|---|
||Buildings|Equipment|**2022**|2021|
||||**£**|£|
|Within one year|84,825|41,020|**125,845**|120,899|
|Between two and five years|79,683|27,292|**106,975**|99,652|
|5 years +|5,800|-|**5,800**|5,900|
||--------------|--------------|**--------------**|--------------|
||170,308|68,312|**238,620**|226,451|
||--------------|--------------|**--------------**|--------------|
|Lease payments recognised as an expense in the accounts|||**173,410**|142,444|
||||**--------------**|--------------|
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## 31 **Auditors' Ethical Standards**
The relevant circumstances requiring disclosure in accordance with the requirements of APB Ethical Standard - Provisions Available for Small Entities are that, in common with many charities of our size and nature we use our auditor to assist with the preparation of the accounts.
## 32 **Subsidiaries**
Details of the charity's subsidiaries at 31st March 2022 are as follows:
|**Name of**|**Company No. Nature of**|**Company No. Nature of**||**Degree of**||
|---|---|---|---|---|---|
|**undertaking**||**Business**||**control**||
|PramaCare Limited|02359751|Provider of|Sole|100%|Direct|
|Charity No. 801967||domiciliary|member|||
|||care||||
|PramaLife Limited|10638675|Provider of|Sole|100%|Direct|
|Charity No. 1172716||welfare|member|||
|||services||||
|PramaTrade Limited|10764189|Dormant|Ordinary|100%|Direct|
||||shares|||
|Prama Services Limited|11190177|Provider of|Ordinary|100%|Direct|
|||training|shares|||
|||services||||
|Abba Care Limited|10244357|Dormant|Ordinary|100%|via PramaCare|
||||||shares|
The registered office for all subsidiaries is:
Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole, Dorset, BH15 2AA
## 33 **Cash generated from/ (absorbed by) operations**
|**Cash generated from/ (absorbed by) operations**|||
|---|---|---|
||**Group**|Group|
||**2022**|2021|
||**£**|£|
|Net surplus for the year (as per the statement of financial activities)|**139,566**|292,722|
|Adjustments for:|||
|Depreciation charges|**34,963**|37,285|
|Amortisation charges|**-**|-|
|Gains on investments|**(11,284)**|(22,393)|
|Dividends and interest|**(3,221)**|(3,016)|
|Loss on disposal of property, plant and equipment|**-**|1,613|
|Movements in working capital:|||
|(Increase) in stocks|**(1,743)**|-|
|(Increase)/Decrease in debtors|**(153,494)**|187,974|
|(Increase)/Decrease in cash with investment managers|**(479)**|5,070|
|(Decrease)/Increase in creditors’|**(138,259)**|232,198|
||**--------------**|**--------------**|
|Cash (absorbed)/generated by operations|**(133,951)**|731,453|
||**--------------**|**--------------**|
_____________________________________________________________________________________
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## **PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
34 **Analysis of changes in net debt**
## **2020/21 - Prior Year Comparative**
|**2020/21 - Prior Year Comparative**|||||
|---|---|---|---|---|
||At 1 April||Other non-|**At 31 March**|
||2020|Cash flows|cash changes|**2021**|
||£|£|£|**£**|
|Cash|127,723|775,241|-|**902,964**|
|Cash equivalents|-|-|-|**-**|
|Overdraft|-|-|-|**-**|
|Loans due within 1 year|(250,000)|-|-|**(250,000)**|
|Loans due after 1 year|-|(50,000)|-|**(50,000)**|
||**--------------**|**--------------**|**--------------**|**--------------**|
||(122,277)|725,241|-|**602,964**|
||**--------------**|**--------------**|**--------------**|**--------------**|
|**2021/22 - Current Year**|||||
||At 1 April||Other non-|**At 31 March**|
||2021|Cash flows|cash changes|**2022**|
||£|£|£|**£**|
|Cash|902,964|(184,806)|-|**718,158**|
|Cash equivalents|-|-|-|**-**|
|Overdraft|-|-|-|**-**|
|Loans due within 1 year|(250,000)|-|-|**(250,000)**|
|Loans due after 1 year|(50,000)|50,000|-|**-**|
||**--------------**|**--------------**|**--------------**|**--------------**|
||602,964|(134,806)|-|**468,158**|
||**--------------**|**--------------**|**--------------**|**--------------**|
_____________________________________________________________________________________
- 41 -