COMPANIES HOUSE St Elizabeth's Centre Annual Report and Financial Statements Period ending 31 Oecember 2020 Company bmited by Gu•ranteÈ Reg￿1rat￿)n Nurn￿r 11087969 IEr¥Jl4nd ar￿ Wa￿) Charity R￿5￿10￿ Nunknr 1176777 IIINMllllllMII *AA86RE40* 1x10712021 COMPANIES HOUSE #106 Contents Reports Reference and administrative infomialion Report of the Board of Trustees IndeK*ndent auditorfs report 21 Financial staternents Statement of financial activth.es 26 Balaft￿ sheet 28 ststement of cash flows 29 Prinapal accounting policies 30 Notes lo the finanoal stslements 34 St Elizabeth's Centre Reference and administralive inforrnation Board of Trusiees Sister Patricia Ainsworth Sister Josephine Anne Clemenee Mr John Coleby Ms clai￿ Cook Mr James Conway Mr Richard Crean (reS￿ned 16 February 20211 Sister Veronica Hagen Ms Freda Kelly Mr Christopher Kemball {Chaiman) Reverend Father Peter Lyne5S Bishop Paul McAleenan Mr Robert Moore Mr Chris PLbJh Iresigned 15 March 20211 Mr Nicholas Seed Company Secretary Ms Holly Venetia Phipps Company registration number 11087989 Charity registration number 1176777 Address si Elizabeth's South ErKI Much Hadham Hertfordshire SG10 6EW Auditor Buzzacott LLP 130 Wood Street London EC2V 60L Principal bankers CAF Bank 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4 JQ Soli¢ilors Farrar & Co 66 Lincoln's Inn Fields London WC2A 3LH Stsnley Tee LLP 95 London Road Bishop's Slortford Herttordshire CM23 2LU St Elizabeth'5 Centre R•f•r•nce and admlni$trative infomiation Senior Leadership Team Chief Executive Mr Adam Sampson- resijned 6 October 2020 Ms Jill Rankin- appointed 6 Odober 2020 Director of Education & Head of College Dr Alec Clark Acting Director of Adult Services Ms Jill Rankin- p¥omoled to CEO 6 OcloLEr 2020 Interim Oirector of Adult Services Ms Cheryl AllumQarke- appointed 6 Ocknter 2020 Director of Finance & IT Mr John Scarisbrick- resigned 31 December 2020 Mr Rhodri Jenkins~ appointed 6 December 2020 Director of HR & Staff Development Ms Gail Christey Other officers Clinical Services Manager Ms Linah Mamvura Head of Children's Care servi￿ Ms Diane O'connor Head of School Mrs Samantha Steinke-sanderson Assistant Dire¢tors- Home Ms Susan 8rislow- Iransfeffed 6 October 2020 Ms Cheryl Allum£lare- promoted 6 October 2020 Ms Jennifer Brand - appointed 6 October 2020 Ms Sam Porter- apptynled 6 October 2020 Head of Dr¥niciliary Care Ms Cheryl G( Sl Elvzabeth's Centre Report of the Board of Trustges (including a strategic report) 31 December 2020 Introduction The Board of Trustees IYruste•s") presents its report with the accounts of Sl Elizabeth's Centre I"Charity"I for the 16 months ended 31 December 2020. The report has been prepared in accordance wth Part 8 of the Charities Act 2011 and also constitutes a directors. report and strategic rewrt for the purposes of company legislation. The accounts are presented in accordan￿ wth the accounting polycies sel out on pages 23 to 26 therein and coM￿Y wth the Charity's Mefflorandum and Articles of Assooalion I"Articles"l. the Companies Act 2CIJ6 and the requirements of United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿1. The accounts follow the prinuples of Accounting and Reporting by Charities Statement of Recommended pract￿ applicable to charities preparing their a￿unts in accordance with the Financial ReE￿ing Stsndard applicatJe lo the Unrted Kingdom and Republic of Ireland IFRS 1021. Structure. governance and managèment St Elizabeth's Centre was originally established in 19J3 as one of the charitable works of the Congregation of the Daughters of the Cross of Liege (the -Congregation"I, a Rornan Catholic rel￿10￿S congregats"on, founded in 1833 In Liege, Belgium. St Elizabeth's Centre operated as part of the Congregation until 30 September 2018. when the activities and assets of Sl Elizabeth's Centre were Iransferred lo a newly registered charty with the name of'st Elizabeth's Centre.. Some Tnjstees of the Congregatson are also Trustees of the Charity- The Charity was incorwraled as a company limited by guarantee wilhoLrt a share capital on 29 November 2017 and registered as charity with the Charity Commission on 22 January 2018. 11 is gover￿ in accordan￿ wilh the Artides. The Article5 require that the Charity has belween fve and fifteen Trustees. Trustees are appointed by the Archbishop of Weslminster. The following Trustees were in office a131 December 2020 and seNed throughout the ￿ric•￿. eX￿pt where sh¢)wn. St Elizabeth's Centre Report of the Board of Trustees (including a slrateglc ￿port) 31 December 2020 Structure. govemance and management leontin￿d) Trustees Trustee inted l Resi Mr Christopher Kernball Ichairrnanl Bishop Paul NAcAleenan Sister Patricia ￿nsworth &"ster Josephine Anne &ster Veronica Hagen Ms Claire Cook Mr James Conway Mr John Coleby Mr Richard Cr&in Reswned 16 February 2021 Ms Freda Kemy Mr Robert Moore MS Nichdas Seed Father Peter Lyne55 Mr Chri$ Pugh Appointed 19 May 2020 Appointed 6 October 2020- Res¢gTred 15 IAarch 2021 Trustees are encouraged lo attend any conferences, courses and seminars which they feel afe ￿￿e¥S￿t to keep themselve5 appraised of any changes in the relevant legislatson or best practi￿ regardiThJ the governance of the Charity. In addition, professional advice is extensively soughl and relied upon by the Trustees. particularly in the areas of law. fInar￿e, accwnting, property and inveslmenl. Trustees. expenses No Trustee reeeive(J any remuneration from the Charity in connection with their duties as a Trustee. No Trustee had any beneficial interest in any Contra￿ with the Charity. Organisation The Board of Trustees meets gx limes a year. In addttion. there is 8 Finance Audit and Risk Committee and a Health Care and Quality Commiltee lo consider those areas of the Charity's operations In more detail, as well as separale Boards of Governors for the School and the College. The Senior Leadership Team ISLTI consisting of the Chief Executive Officer, Principal (previously t￿lled Director of Education and Skills) Interim Director of Adult SeNices. Director of Finance and IT and Director of HR and Staff Development undertake the routine management of the Charty. St Elizateth'5 Centre Report of the Board of Trustees lincluding a strategic report) 31 December 2020 Structure. govemance and management It￿n￿nued) The Senior Leadership Team The following members of the SLT were in Offi￿ at 31 tknmber 2020. Senior Leadershi Team Role MS Jdl Rankin Dr. Alec Clark Ms Cheryl AIIurn-Clarke Mr Rhodri Jenkin$ Ms Gail Chnst Ch*f Executive Officer Direclor of EduCat￿n and Head of College Intenm Directof of Adult Seryic8S Di￿¢tOr of FinarKe Direcior of HR and Staff Develo ment The pay of the Senior Leadership Team is reviewed regulady and approved by the Trustees. based upon independenl extemal recommend8tion. The pay of the Senior Lealership Tearn is benchmarked against ot￿r charities in the sector. Public Benefit Charity law requires the Trustees to indude in their annual report a confirrnalion that they have had regard to the guidance of the Chacity Commission regarding public benefit. The Trustees are also required lo provide infomialion which demonstrates how the Group and Charity meets the guidance. This report describes the aims arKI artNits"es of the Group and Charrly which the Trustees believe contribute significanvy lo the aims of the Group and Charity and meet th8 Criteria eslatAished by" the Charity Commission for a5se5sing public benefft. In particular. where fees are charged for the services provided, the seNices are provided on the basis ol need and the cost is largely met from publTrc finances_ Aims and Adivilies Aim$ The Objects of the Group and Charity are the prornotion of the Catholic religion, the advancemenl ol education and the promotion of physical and mentsl heallh for people of all ages who have epilepsy or other complex neecls on Ihe basis of need and regardless of their reltgious. cultural OT ethnie baekground by the provtsion of: (al educali¢)n lindudin9 cuftural. s￿la1. moral and spiritual development).. (bl training and other actwities lo devdop their skills. capabilities capacity to engage in work.. Ic) care and health support: and Id} facilities for leisure time 0￿pat￿ in the interests of social. moral and Spiritual welfare.. in accordance wth the teaching, rites an¢J practices of the Catholic Church and (save for purwses inudenlal and ancillary lo those objects) no other purposes. St Elizabelh's Centr8 Roport of the Board ol Trustees (including a strategic rnport) 31 December 2020 Aims and Activities Icontinuedl Activities Based on a ￿a(￿e site in Herttordshire, Ihe Group and Charity provide.. Support to over 200 chik1ren, yiyjng people aThJ adults each year. HIghly-s￿la1•$ed residential ￿1MM￿latiOn, with 2&7 care. induding.. O a care home with nursing supwrt {"Home"I, comprised of 12 specially-adapted bungalows- O supwrted Imng acccMmrTh)dation in the nearby t(yNn of Bishop's Stortford.. and Q a fully a￿sSIble chiklren's home spread over eight bungalows O on-site wjpported living accommodation for our College students.. Specialist education. indudiThJ: O a 'n0￿maInlalned special schocA' for children aged 5-191"&hool"l.' and O a 'Section 41 approved special post-16 institution. I'College'} lor young people aged 19-25, offering a 3-year pTogiamme that focuses on developing key skills." Heath and therapeutic support ind￿1ng.. 0 24-hour nursing support. including epilepsy-spe¢ialist nurses, speaalist leaming disabilrty nurses and paedotric nurses.. and Q access lo on-srte therapeutic programmes induding occupational therapy, physiolherapy. speech & language therapy and emob.onal & behavioural support", Key skills development arKI leisure OPFQrtunities, both on and off-site. including V￿a￿onal and the[a￿UtiC activities. mu&c, crafts. sensory activities, IT and sports. Through the Charit¥s muttt-disoplinary approach. its a￿leM1¢ teams. carers. health staff, therapists and managers worknng together towards a common goal. the Charity ensures its Servi￿ users gel the best wssible chance to realise th&r full potential. The Charity provides ￿rSonalIsed care plans that meet the needs of each individual, enCompas￿n9 their education. care. health and Well￿1r0, and social skills. and encouraging ir￿ependenCe so far as p0￿ble. Sl Elizabelh's Centre Report of the Board of Trustees (including a strategic report) 31 December 2020 Aims and Activities (continued) Regulated SeThices At p￿sent there are six separate regulated serviees on site: Adv￿ Care Home with Nursing Nursing Agency (provides nursing and therapy services into all the other regulated services on the site) Domiciliary Care Agency {whth provides sup￿ed living lo tenants in their own home) Children's Home College School AJI Services apart from the Children's Home are currently rated Good by erther CQC or Ofsted. In March 2019 the Children's Home was rated inadequate and following a further inspection six weeks later it was upgraded to'requires Im￿0¥eMent,. The leadership team responded by restructurir¥J the executive team and recruiting an expenenced care specialist lo oversee this servi￿. A robust action ￿an is in place to bring the 5eryice back to a'Good' or better ratiry, and the action plan is monitwl dosely by the Senior Leadership Team and the Trustees. The interirn inspection indicated that the remainiTrJ barrier lo nxiving lo a Good was the unsatisfactory aeeommodation in areas (Chilton House and Cookson House). The refurbishment of these lo N¥0 six bed er￿ulle faciliti.es is now complete and we anticipate a further inspection later 2021. Achievements and perfornianee The period under review included the beginning of the CovHd-19 pandemic in early 2020 which is still continuing and, as wth other tharities and businesses. has caused significant strain on the management arKI finan￿$ of the Charrty. The result for the 16 months ended 31 Oecember 2020 was a loss of £1.2 million. Given the grants and furlough income, and the fact that the impact of the pandemic was only a e£300k loss, this means we have an underfyiThJ £￿k defiot. The new SenhN Leadership Team have been tasked with improving this positi.on. Our overriding obj'ecbve during the pandemic was to ensure the safety of our residents and staff as well as to ensure that the Charity remained solvent. Due lo stringent measures taken at the onset of the pandemic, we were a￿e to miligate its effeets and Covid deaths were limited lo 1 resident with none amorrfJst the staff in the period. Our hearts and prayers go out lo the families and loved or*s of the deceased. The Challty's cash reserves are £7.3 million %thich the Trustees are confident is suffiLyenl for the secure operatson of the Charity. St Elizabeth's Centre Report of the Board of Trustees (including a Stratsgic report) 31 De￿mber 2020 Achievement and perforn)ance Icontinuedl Our CEO. Adam Sampson. resigned at the teginning of Octoter and the Trustees resp)nded to this res￿nation with an evaluabon of the skill mix al leadership level and consequently a new CEO and Director of Finan￿ were appointed. The Director of Edl￿all￿ ro￿ has been replaced by a Prinopal fole which we are currently appointing. Jill Rankin. Head of Adull Services, was promoted to CEO and we also appointed Rhodri Jenkins as Director of Finance at the beginning of De￿rnbel. We have made a number of other senior appointments and promotions to ensure we have a strong and effective wider Managernenl Teaffl. The new CEO and her leam have agreed a revised Strategic Plan wilh the Board which 1$ summarised below. Given the grants and furfough income, and the fact that the impact of the pandemic was limited lo a r£400k loss (see Impact of Covid below), this means we have an undedying £900k deficit and the new Senior Leadership Team have been tasked wilh improving this position. Our aim is lo ensu￿ that the Charity makes a sustsinable surplus each year so that we can invest in. and grow. the enterprise over the next 5 years and beyond. A¢hlevements This report covers the operations for the 16 mnths ended 31 December 2020. Over the past 16 months. the Charity has supp)rted: 89 adults aged 18+ across 11 fully actessible ￿sidential burYJalows. with nursing and therapeutic support. as part of the care home provision.. 12 adults in the supported living ￿MOdation in nearby Bishop's Slortford.. 26 leamers aged 19 - 25 at the College. 92% of whom were residential and living in the specially adapted on-srte bungalows: 41 thildren aged 5 - 19 in the School, 88% of whom lived on sile150me term-time only and others 52-weeks a yearl in the speoally-adapled Children's Home; 30 adult day Servi￿ usefs. who Irve locally but come to Ihe srf(e lo partiopate in the extensive daytime programme of re￿atiOnal. physi￿1 and v¢xational aclivilies; and Graduation Success". Three leamers from the College and 10 pupils from the School graduated in July 2020. having completed their final year. Six students from School transtioned to St Elizabeth's Colbege. One of Ihe College learners continued to reside in supported living while his long lerrn transition plan was developed. Due lo the impacl of Covid-19 his local authorrty agreed to support an extended placement al College, he is living in Jutxlee House and has been attending College since November 2020. He is due lo leave at the end of this academic year. Of the tsvo remaining leamers, one is living in Saffron Walden in a supported living setting and the other continues to live at home with hi5 family in Ceniral London. St Elttabeth's Centre Report of the Board of Trustees {including a strategic report) 31 December 2020 Achievement and performance (conbnued) Achievements (continued) Academic Achievemenl". 'Steps of Prc¥Jress' (dats used lo monitor progress of those with severe sp￿la1 edLKats"onal needs) shows that 100Yo of School students had made progress in all of the key areas of reading. writing, communication and mathemats'¢s with 24°/*l of students athieving more than 21 steps of progress. In College 95Vo of leamers made progress in bolh English and malhematKs from their starting point. In 'Preparalion for Adullhood.. 42% scored outslarKling. 38% Sc￿ed above expected and 19% scored as expected from their Sta￿￿j point. ulato Succes5es.' The Charity secured a 'goo(r rating from the Care Quality Commission for the domicilsary Ca￿ wJency at rts lalesl inspection. CQC made an assurance inSpeCt￿n of the Adull Home Infecbon Protection Control and confirmed its satisfaction with our arrangements. Art Exhibitions: Artwork produced by three adult day Servi￿ user has recenuy been on display at the Tale Modem. in London. as part ol a competition njn in coniunclion with the Tate and Unitsng Friends (a social inclusion project for adults with a learning disability). Adult service users who attend the art and ceramics enlerprise project have also been busy creating art pieces that demonslrale what their epilepsy means lo them and how their diagnosis has affecled their lives. The art work has been displayed in various places and toured around ￿ county and is currently on disFlay in the ￿rridorS of the Charity. Thera utic ser￿￿. Over the pasl wghteen months. Ihe Charity has adjusted its delivery methodology for therapeutic services due lo the Covid-19 pandernic. The serv￿e5 continue lo include therapeutic programs for adults and children lo participate In and benefit from. These included.. behaviour and emotional suptK>rt programme. online music therapy. as well as group activitses involving art, cooking. cheerteadin9 and sports. development of language and communication within the homes and academic seth"ngs. The home provides eare and support lo digible individuals under the directson of visiting consultants in neurology and psychiatry as well as local GPS who have a special interesl in epilepsy. Awareness-Raisi The Charity has also launched a new Blog lo keep families and friends up to date on the work of St Elizabeth's. particularfy important during period5 of lockdown. The website continues to expand ils reach. with over 47.CXKI users, a grosth of 30% over the past 12 months. Soaal media has grown signffjcantly over the period Facebook followers have inueased by over 40%. Twitter by 30°A and Instagram followers have increased 96Yo. and on-line donab.ons via the website reached £30,(H)O. Virtual tours have been Created in partnership with film crews to advertise and promote our services arKI support oThJoing pnorits.es in Admi￿On$ St Elizabeth's Centre Report of the Board of Truslees {Including a strategic report) 31 December 2020 Achievoment and performance {conlinued) Achievements (confinued) Fundraisin Successes.. Thanks to the generosty of a large number of supporters. including Charitsble Twsls. Corporates. Indrviduals and Community Groups. the Charity successfully fUr￿TalSed £406k for a number of key wojects. This fundraising has allowed us to invest in: New equipment for the on-%le Sensory Rooms" Oxygen ConvertOf5 for the treatment of Covid. and a Syringe Driver for the administration of medi￿tiOn.. Eye Gaze equiwent to aKY communication for ￿n-ve1￿al seThice users". New bed monttors ar￿ seizure moThtOfS to help detect ntght-b.me seizures.. and Upgrading bathrooms. tedroorn5 and communal areas in some of the adult accommodation. Future Plans The new CEO, Jill Rankin, ak￿9 with the Senior Leadership Team have developed an ambititius year Strateg￿ pfan (2021-20251. This plan has been presented to and a9￿¢￿ by the Truslees and at a strategic level, six key o￿4e￿I¥eS h8¥e been hyentified.. Respected pr(widÈr of choice To be the resrActed provider of thoice and market leader, ￿ntre of eXCel￿nCe inilially in the South East. for people with leaming disabilit￿s. wkpsy and other challengiThJ health conditions. Robust operating model Ensure a ￿tr￿lst operating model Ihal delivers a con51slenl and Jstainable finanaal surplus. Retain services for adurts, but focus on growirvJ and developing services fly child￿fi as this is where we are mosl likely to be able to make the rrrf7sl impact. Propèrty Upgraded The on-sitè property ptsthlio is to be Significantly upgraded. Capital expenditure will be managed on a priority basis to include utilities, fire safely and infrastruclure. We recognise Ihat lundraising will be integral to the su(tsss of these projecls. Off-site oprM)rtun"rties and ServI￿S to abso be develowl f(x a11ulls to creaie real opwrtunibe5 for community INing in partnership wrth capital providers. Be a leading employer Prornote e¥celknce. prije. continuous improvement and pefison81 growth. Offer ethi¢al pay scaks. Respected brand reC(NJniSab￿. brand. SUp￿rted by c¢)Mmunut￿nS that ery&aes the widest possible audience. effective Modèm business intelligenco Mtrdem inlegrated systems and a developed Business Intelligenee fU￿"on. St £1￿8￿￿,$ Centre 10 Report of the Board of Trustoes (including a strategic report) 31 Decemter 2020 Future Plans (continued) The Environment The Trustees are conscious of the Chartty's corpJTate social responsibility to protect the environment. The Charity has adopted an Environmenlal Sustsinabilily Policy. Volunteers Over 10,000 hours of volunleeriNJ have been p¥ovMJed by a team of very dedicated volunteers. who Sup[￿ Ihe work ol the Fundraising Team and within the Charity Shop Financial Review The net lexpendilurel l income for the unrestricted and restn'cted funds were as foll¢)ws116 months of trading).. Charita￿e activibes Total H0ft￿ & Day sch1￿1 College & Fundraising. SeThices & Children's Domialiary shops & Home Care Investrnents £'o É'ooo £'cKJo £'ooo sch￿1. College and Hoff 32.944 14.464 10.729 6,162 1,589 Cost ol raisiry fvnd5 Fundr3i5iThJ ard Trading charilab￿ Actmbes {1511 11,2861 32.903 Net (expenditu￿) income befo￿ transfe 1.396 1.173 76 299 752 The net {expendilurey income for Ihe unrestricted and restricted funds were as follows116 months of traOing}'. • The Charity made an overall deficit of £1.26Ok before transfers to restricted funds. • The reslricted funds made a defi￿t of £136k in the period, giving an overall deficit of £1,396k_ All charit￿le activities make a positive conlritxrtion to the recovery of support service costs. Reserves Policy and Financial Position The Tnjslees are cons￿OuS of the need to balance the requirements of the Charity's present Service user5 and students against those in the future. This means that they have to ¢Yetemiine the level of reserves to be carried foTh¥ard lo invest in future developrnent. The Trustees consider that, given the nalure of the Chari￿$ wlyk. the minimum level of reserves should be 3 monlhs, annual expeThJilure. The unadjusted general fund reserves 01 £6.742k represent approximately 3.8 months of annual expenditure. The Trustee5 are currently adopting a new 5-year strategy wtih the aim of generating sustainable 0￿rating surpluses lo support inveslment in new facilities and improved services. In this context the reserves policy wll be reviewed lo ensure it is consistent with the Iw temi financial strategy. St Elizabelh'5 Centre 11 Report of the Board of Trustees (including a strategic report) 31 December 2020 Reserves Policy and Financial Position {continued} Restricted funds of £137k. as at 31 December 2020. are available for a range of smaller projects for which the Charity has received donations. but has r￿1 yet incurred the expenditure. Designated resefves of £19.741k prinapally ￿MpriSe ￿ fixed asset fund, representirKJ all nel assels and liablilies COn￿ted to the fixed assets of the Charity. Cash balances totsl £7.341k at 31 De￿rnber 2020. The Group and Charity'$ Assets The acquisttions and disposals of fixed assets duriro the period are re￿rded in note 10 to the financial statements. sin￿ Ihe transfer of ￿ Congregation's assets and actwitses to the Charity, the Charity's land and buildiros have not ￿eft revalued. Fundraising During the period a total of £1.556k was raised from grft aid. donations, legac￿$. shops and fundraising ath"vilies of which £1.150k was from shops and £406k frorn other ath'vities. Of this income. £152k was for restri￿ed purposes. The intemal Fundraisir¥3 Team engages with corporate partners lo encourage their employees to raise funds and volunteer to support the work of the Centre, and work closely with the local community to develop income- and awareness-raising relationships. Applications are also made to grant-making Trusts for car¥'lal projects, specific projects, and unrestricted fvnding. The Centre has 9 charity shops xross Hertfordshire and E5sex.' the 11th. in Harfow Town Centre, and 10th, in Waltham Abbey. were ckjsed in September 2019 and December 2020 respectively. Due to National Lockdown restrictions as a result of the Covid-19 pandemic, the charity shops were only able lo open for a maximum of 10 months in this period, and were required lo fdlow stn.ct swal distsnung measures. including limiting customer number5 and quaranb.ning don*ions. The overall impact of the pandemic is discussed further on page 14. The Fundraising Team also runs a series of on-site events to raise funds, and supports individuals to ftjndraise and donate, by partiupaling in Challenge events, h05bng fundraisers and raising awareness. alihoLfv3h Ihese were limited this year due to lockdown restrictions. Sadly. due to the Covid-19 pandemic. the 3 on-sile fundraising events for 2020 wefe cancelled. as well as the London Marathon and Ride L￿}d0Th. A range of virtual events were organised in their place. The Centre sends a newsletter tsvice-yearly lo supporters who have expressed an interest in our work and runs 2 lundraisiNJ raffles Ihrwghout the year. The Centre does not make use of professional fundraising agencies. The Charily is registered wilh ihe Fundraising Regulalor and is committed to adhering lo the Fundraising Code of Practs"￿. Sl Elizabeth's Centre 12 Report of the Board of Trustees (including a strateglc report) 31 De￿mber 2020 Fundraising {conkn"nued} Complaints are reported lo the Fundraising Regulator in accordance with their limelable. There were no complaints in the last retKJrbng peri(￿. The Charily has not had any adjudications and had no signtficant failures, ensuring compliance with these standards. Detailed policies and procedures are in place and complianee is reviewed through audit. by monitoring feedback and taking correcbve acb'on where required. Supporters are asked whether they would like the Charity lo keep in touch with them, by way of regular updates on our work and how they have helped the Charity. Recipients of both email and maipbased communications a￿ gtven the option lo confirm if they prefer less contact or no thger wish to receNe corres￿ndence. and these prefeTences are immediately updated. The Charity does not Sell or. exchange lists of data with any other charib'es or companies. The Charity's fundraisers have been briefed lo protect ￿￿pIe in vulnerable ¢i￿uMStanceS. If they encounter someone showing signs of distress. confusion or vulnerability, the fundraisers are trained to wlitely end the conversal¢on and refuse any donation offered in such circumstanLX. In the unlikely event of a donation being taken. Ihe donation would be refunded. Promoting the success of the charity and employee engagement As the Twslees of St Elizabeth's. we have a legal responsik%"Iity under section 172 of the Companies Act 2¢X)6 to 3cl in the way we ujnsider, in good faith. would be most likely to promote the Charity's success for the benefit of all stskeholders, and lo have regard to the long-temi effect of our decisions on the Charrty. This statement addresses the ways in which we as Truslees execute this responsibilrty. Promoting the Chanty's success lor its stakeholders St Elizabeth's became an independent chanty in 2018 with a Board of Trustees and is run on a day lo day basis by a Senior Leadership Team. We are proud lo ddiver of the ways in which, over a century the charity has provided care and support for children and adults of all ages with epilepsy and other complex medical conditions, the severity of which impacts their health. social. behaviour. learnir¥J and emotional development. The decisions we make as a Charity, from the ground level through to the Board of Trustees. are for their benefit. We are a value5 driven organisalK)n arKI stn.ve to demonstrate the following ideals: Compasslonate We care. We think of life as a grft. to be respected. ￿lebrated and cheris1￿. Aspirational We are ambitious for people we work with. We work with passion to ensure that they live their lives lo the full. and with d￿nitY. We sei hoh siandards and stretching goals. and support peopje to achieve Iheir potential. Creative We seek out opportunities to be creative. to innovate and lo have a positsve impact. We embrace thange. Promoting the success of the charity and employee Sl ElizaÈeth's Centre 13 Report of the Board of Trustees lin¢luding a strategic report) 31 D￿rnber 2020 engagement Icontinuedl Collaborative We are collaborative. proleswonal and indusive. We respec¢. value and leam from each other. We work in partnership. Joylul We strive never lo lose sighl of the fun and joy in lrfe. Our success is dependent on the collective energy and contribution of our stsff. Staff who enjoy their work and enjoy being al work. are the bedrock of a high quality sustainable service. There are wider consumation methanisms whith SUPFQrt us in fosteriThJ healthy relationships with stskeholders. These indL¥Je: 6 meetings annually with the Senior Leadership Team Family Forum Residents Forum School Council College CtyJncil Infomiation and Cortsultstion Group We have agreed and approved a 5-year strategie plan. which emphasises the delivery of market leading servi￿$ providiry the required retums to reinvest in the infrastructure of the Operati￿ and property portfolio lo build further SUC￿$. 11 undedines Ihe need to build a tslenled team and a respected brnnd that is recognisable for its purpose and quality of Servi￿ delivery. We reccgnise that lo sueceed we will need to build strategic partnerships with other organisatsons that can provide the 1nfraStrL￿1Ufe to su¢wsfully deliver this amb'lious plan. Our key stakeholders, and the ways in which we engage with them, are as follows.. Our clients The views of our dients is of paramount importance to us an(J forms the basis of our work and there are forums for them in each serviee area. Additionally we have annual surveys. monthly house meetings and weekly key note session to ensure Ihe views, wishes and aspirations of those who L￿e services. Regulatory authorities St Elizabeth's provides seTrices to vulnerable ehildren and consequenuy is a highly regulated environment. We engage proactively with Of51ed. CQC and mutlipte local aulhorilies who carry out complianr£ visits. St Elizabeth's operates in an open and transparent manner wth regulators and aspire to reath Ihe highest possible standard ￿OsS Servi￿$. St Elizabèih's Centre 14 Report of the Board of Trustees {including a strategic report) 31 Decemtrw 2020 Promoting the success of the charity and employee engagement {continuedl Our ernployees Below are ways we eThJage with our employees". We operate a well embedded staff consullalion prO￿$s. lo include our InforTnalion and Consullalion Group. which comprises elected staff representatives who meet every 2 months with the CEO and Seniov Leadership Team. There are annual all stsff surveys and an annual staff conference. Collab)ralive staff working parties both for ad hoc issues or longer temi inilialiveslareas of inleresl, for example our Equality. Diversity and Indusion Group and our Environmentsl Sustainability Group. Regular eross Serv1￿ Senior Leadership Team meetings, to indude our Operatsonal Senior Leadership Team meetings {every 2 weeks. chaired by the CEO} of all our Heads of Department and our Care ar￿ Health Leadership TeaTn meetings. Appraisal and supervision processes which are designed to support reflective two way discussion between stsff and line managers. Other opportunities for feedbad( from stsff and effective engagement are also in place lo include a "hrfoving On" (exil interview) process. Our People Strategy has been cAeated following comprehensive engagement pYo￿s$ with staff. The wider community The Centre is committed to working with and alongside the local community to increase awareness of St Elizabeth's and the work they do. Nine charity shops auos5 Essex, Hertfordshire and North London support lundraising efforts and help to spread awareness amongst their customers. supported by over 100 volunteers from the local area. Sl Elizabeth's is also 8 memi*r of a number of Business Improvement thstrict (BID) in￿atsveS in t¢)wns where our shops are based. St Elizabeth's is a member of several Chambers of Commerce and Ne￿o￿kIr￿j Gr(xJps, working alongside town councillors, local businesses and community groups to raise awareness and develop potential partnerships. These eontsnued during lockdown on a virtual forum. and led to signtficant donations. marketing opportunities and pro- bjno sup￿rt. St Elizabeth's Centre 15 Report of the Board of Trustees (Including a strateglc report) 31 December 2020 Strearnlined Energy and Cartx>n Reporting requirements We detail below our reporting obligations in relatson to the energy use and carbon emissions f¢X the ar￿untIng period uThJer revw. UK Greenhouse Ga5 Emissions and Energy Use Data for the Period 1 Septsmber 2019 to 31 Decembor 2020 Energy consumpti￿ used to Calcxjlate Emissions (kwh) 2.532,461 Energy consurnptk￿ break {kVth} (Opb"onall Gas Electrialy Transport Fuel 979,371 1.553,090 2 532 461 Scope 1 Emissions in Metric Tonnes C02e Gas Consumption Owned Transport- Min1￿Uses. cars and vehicles Total Sco 180 40 220 Scop• 2 Emissions in Metric Tonn8S C02e Purchased Electri￿tY 362 362 Total S¢0 Scope 3 Emi$$lons In Metric Tonngs C02• Taxis to Work 8us servI￿s Business Travel in Employee l)4vned Vehides Leased vehicles 13 12 T¢)tsl Sco Total Gross Emiss40ns in Metric Tonnes C02e 129 711 Intensity Ratio Tonnes C02e per Resident Quanlrficatkm and Reporbng Methodology Where the infomiation has been available we have laken this directly from primary records. for example, gas and electriuty invoices and ststemenls_ For transport costs, we have taken infomalion from mileage records and applied UK Governmenys gU￿ance in relation to energy converwon factors. whe￿ inft)rmation aTrJ data has not been recorded in a compfehensive mannef, we ha¥e made infomied assumptions and judgements in relation to activity and usage. This has applied to the inforrnab.on we have applied in relats.on lo the use of taxis aTrJ the staff bus seThice. We are actively lookiro at new approaches and processes which *MII provide fijrther clarity to our recofd keeping for emissions, energy consumption and energy efficiency. St ElvLabeth'5 cent￿ 16 Report of the Board of T￿Stee5 (including a strategic report} 31 D￿m￿tr 2020 Streamlined Energy and Carbon Reporting requirements Icontinuedl Intensity measurement (￿1r intensity measurement is b8sed upon the average number ol [￿dentS on site over the period under review. Measures Taken lo Improve Energy Efficiency The Charity has in pla￿ a range of operational initiatives aimed at making a KX)silive contribution towards redwng our carbon footprint, emissions and energy consumption and al impro¥ir¥J ils energy effiaency. Such initiatives indudè. but are not limited to-. The formation of an EnvironrrEnt and Sustsinabilily working group to provide leadership and direction on energy related matters: Recycling and waste management improvements in relation to food waste. mixed recycling and eomposling: Travel and transport - developing ￿rther the bus service lo stsff members and other uses" a CC￿lInUal1Qn of car share scherre arrangements.. cycle to work inrtialives" and expanding eleetrrc veh￿e charging ￿inIs., and Energy usage and renewables- replaang electric bulb5 With LED equivalents when they are ready for replacement.. reviewing solar panel usage, wind turbine expansi￿ and lookiNJ and cavity wall insulation. Additionally. in relation to procurement. Iserviees and works) the Charity will be actively assessing suppliers and contractors in relation to waste disposal. the use of recycled materials and policies foi energy eff￿lencY and reducing their carbon footprint. emissions and energy consumption. Risk Management All major risks to which the Charity is exposed have been assessed induding those relating to the speoffic operational aS￿¢ts of the Charity. its investments and finances. The Trustees believe that by examining the 0￿rational and business risks faced by the Group and Charity. and by monitoring reserve levels and ensuring proper systems of financial Control a￿ in place, Ihey have established effeclive pr￿edureS and safeguards lo mitigate all reasonatAy known risks. The most significant risks faced by the Charity are.. residents sufferiNJ hami" a safeguardiThJ incident occu￿rng.. or a dedine in incoffle from local authoritie5 and central government. bel￿ the Charity's main fundws, resulting in lower referrals andlor pre&sures on fee levels. The Charity operate5 a system of annual planning and budgeting. Perfomiance is monrtored against the approved budget with the use of finanual and non-financol melriGS and tsrgels. St Elizateth's Centre 17 Report ol the 8oard of Trustw$ {in¢luding a strategic report) 31 December 2020 Risk Management {eonb"nuedl Risks are identified by the Senior Leadership Team and senior managers and the likelihood and impact ￿ the Charity is assessed. Mitigating actions are identified and kept under review. The major risks are set out belcA¥'. Risk Mitigation Clinical quality- service users suffer hami ordeath a5 a result of inappropriate adion oromission robust clinical pdicie5 and pro￿dureS slaff trainwwJ developmenl dinrAI supervisions mC￿rtorir9 visits and audits Serylces- services may be further impacted by Gov￿ 19 and changes in commissionirvJ intenb"ons. compelrtK*n and social care Fdicy )n kYOtectKJn controls robusuy reviewe(I t￿sInesS conb.nuty and risk as5e5srnent planning engagement wth key eommissioners revvw and uwjaling ofcaie model diverse portlolio ofseN1￿$ Financial- failu¥e to Secure adequate fvnding lo maintain the qualrty of 5ervic£s regular updating offees from ￿ *Jrni$8ions orrfjoing negob'ations wilh local authorities to Se￿re c05t of livwy increases control and ongoing ￿vIeW ofcosts tINersthe(l itKome frThY fundraisinj at)d ￿tall activits.es Data and information security - breach or loss orcompromise robusl ¢Jata protectu￿ and secwrty pclieies audit of data across Charity trainiry of slaff and managers inc*Jent ￿porting and monitonn9 Impact of Covid-19 The ath"vrties of the Charity have considerably impacted by the Covid-19 pandemic and the senior leadership team have had lo tske slqnificanl Steps lo protect the safely of residents and slaff and lo ensure Qjm￿4an￿ with Govemmenl guidelines. This has required implementing additional prtxesses on site and incurriThJ increased cosis lo cover site wide infection control. The Charity has also had to close the charity shops for significant periods of time, which reduced year on year shop receipts by c£500k. It also suffered significant shortfalls in expecied income from fvndraisiThJ and the provision of day services. The Chafity has, in mrtigalion, re￿[ved both national and local govemmenl assistan through CovKI-19 grants for infection control and fu￿oUgh payments. The Trustees estimate that the overall. adverse. imm on Ihe finanaal Ferformance for the reporting period wa5 c£387k. The elements are set out bel¢x: Si Elizabeth's Centre 18 Report of the Board of Trustees (including a Strategic report) 31 De￿rnber 2020 Impact of Covid-19 £k £k 105t Income Shops Day Services Fundraiyng (£5341 (£5641 (£531 i£i,Isii Expenditure Lower Agency & Bank Staff Permanent Staff Costs PPE Costs £208 1£1081 (£3041 (£2051 Net Inwme Impact (£13561 Local & National Government Support Centre Grant Support IPPEI Shop Grants Furlough Support Total Grant & Furlough Support £632 107 £229 £968 Net Covid Impa¢t 1£3881 Whilst the pandemic has ha¢J an impad on the finances of the Charity the Trustees remain satisfied that the Charity has suffiuenl financial reserves and cash lo ensure that there is minimal disruption lo the continuing operations of the charity and the well-being of 115 beneficiaries. Solvency statement Trustees have conducted a thorough risk assessment and are confident that, should the Covid-19 paThJemic continue at ils curreni level. the Charity has adequate funds lo continue trading. Statement of Trustees. ￿POnSIbl1111eS The Trustees (who are also directors of the Charity for the purposes of Company lawl are responsible for preparing the Trustees. report and finanual statements, in accordance with applicable law and United Kingdom Accounting Standards (United Kingth)m Generally Aeeepied A￿UntIng Pract￿1. Company law requires the Trustees lo prepa￿ finanoal slaternenls for each financial year which give a true and fair view of Ihe state ol affairs of the Charity and of the income and expenditure of the Charity for that period. In pfeparing these financial statements. Ihe Truslees are required to: select suitable aeeounkn"rYJ policies and then apwly them consistently.. St Elizabeth's Centre 19 Report of the Board of Trustees (including a strategic report) 31 Decernber 2020 Statornent of Trustees. responsibilities Icontinuedl ObSe￿e the methods and pfina￿e5 in Accounting and ReportirKJ by Charities.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Re￿rtIr@ Standard applicable in the UK and Republic of Ireland IFRS 1021- make lUth3￿ents and estimates that are reasonab￿ and pwdenl.. slate vthelher applicable United KiThJdom Accounting Standards have been followed, subject to any matellal departures dtsclosed and explained in the financial statements,. and prepare the financial statements on Ihe going con￿rn basis unless il is inappropriate lo presume that the Charity VAII continue in operation. The Trustees are reSpO￿lbIe for keeping proper accounting records that disc105e with reasonable accuracy at any time the financial position of the Charity and enable them lo ensu￿ that the finanaal statements comply wth the Companies Act 20C6. They are also resp)nsible for safeguardirKJ the assets of the Charity and hence for taking reasonable step5 for the prevention and detecti￿ of fraud and other irwularities. E8ch of the Trustees eonfimis that.. so far as the Trustee is w*are. Ihere is no relevant audit infomiation of which the Charity's Auditor is unaware". aThJ the Trustee has taken all the steps that helshe ought to have taken as a trustee in order to make himsefftherself aware of any relevant audit informats'on and lo establish that the Charity's Audilor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 20C6. The Trustees are responsible for Ihe maintenance and integrity of the corporate and financial information induded on the Charity's website. Legislab'on in Ihe United Kingdom goveming the preparation and disseminaknn of finan￿al statements may differ from legislation in olher jurisdictions. Thanks We would like to record our thanks to all of wr slaff. volunteers and donors for their hard work, commilmenl and continuiThJ support throughout the severely testing conditions of the Covid-19 pandemic. Without th•r dedication. Sl Elizabeth's Centre would not be able to offer the excellent life style and Opportunit￿ it does to the adults, young people and children who are placed in its care. Christopher Kemball Jill Rankin Signed on ￿hall of the Board of Trustees.. Dale of approval: 23 June 2021 St Elwbeth'5 Centre Independent audilor's report 31 December 2020 Independent audilorfs report to the members of St Elizabeth's Centre Opinion We have audited the finan(ial statements of St Elizabeth's Centre {'parent charitable company'l and ils subsidiary {"the group") for the ￿rIOd ended 31 December 2020 which comprise the groLtp slaternenl of finanual act￿llIes, the group and charitable company balance sheets, the consolidated statement of cash flows. the principal accounting policies and the notes to the financi81 Statem￿ts. The financial reporti￿ framework Ihat has been applied in their preparation is aP￿icable law and Unrted Kingdom Accounting Standards. Including Finanual Reporting Stsndard 102 'The Finanual Reporting Standard applicable in the UK arKI Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion. Ihe finanual stslements- • give a true and fair view of the state of the group's and of the charitable parent ornpany's affairs as al 31 Decemter 2020 and ol ils incorne and expenditure for the period then ended.. • have been property prepared in accordance with United Kingdom Generally Accepted A¢￿Untsng Practice" and • have been prepared in accordan￿ with the requirements of Ihe Companies Act 2006. Ba515 for opinion We conducted our audit in accordance with Intemaiional Standards on Audits"ng (UK) IISAS (UKII and applicable law. Our responsibililies under those standards are further described in the audrtor's respOnsi￿li11es for the audit of the finanual 51alerrbents section of our report. We are independeni of the group in aceordance wrth the ethieal 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 ewdence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going ¢oncem In auditing the financial stalernents. we have conduded that the trustees, use of the going con￿rn basis of accounting in the preparation of the finanaal statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating lo events or condibons that. individually or collectively. may cast significant doubl on Ihe group and charitable parent company's abilrty lo continue as a going concem for a period of al least ts¥elve months from when the finanryal statements are aulhorised for issue. Our responsibilities arKI the reswnsbilities of the trustees with respect to going concem are described in the relevant sections of this report. Sl EIr￿￿eth.5 Cenlre 21 Independent audltorfs report 31 December 2020 Other inforniation The trustees are responsible for the other information. The other infomialion comprises the infomation included in the annual report and financial statements. other than the financial statements and our aLKlilorfs ￿port thereon. Our opinion on the financial stslemenls does not cover the other information a￿1. except to the extent otherwise eX￿1cl11Y stated in our re￿rt. we do not express any fomi of assurance condusion thereon. In connects'on with our audit of the financial statements, our responsibtlily is to read the other infomats'on and. in doing so. consider whelher the other infomialion ts materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we idenb.fy such material inconsistencies or apparent material misststements. we are required to determine whether there is a material misstatement in the financial slalemenls or a material misslalemenl of the olhef informab'on. If. based on the work we have performed. we condude that there is a material misstalemenl of this olher infonnation. we are required to rew)rt Ihat fact. We have nothing lo report in this regard. Opinions on other matters Prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audrt.. • the infofmalion given in the Truslees. Report, which is also the directors, ftport for the purposes of company law and includes ihe strategic report, for the financial period for which the finanual slalemenls a￿ prepared is consislenl with the financial statements., and • the Trustees. Rewt. whith is also the directors. report for the purposes of company law and includes the strategic rewt. has been prepared in accordance with applicable legal requirements. Matteps on wfiich we are required to report by exception In the light of the knovledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatemenls in the Trustees. Report including the strategic report. We have nothing lo in ￿SpeCt of the following matters in relation to which the Companies Act 2006 requires us lo report to you rf. in ijur opinion: + adequate accounknng records have not been kept. or retums adequate for our audit have not been received from branches not visited by us.. or • the finanual statements are not in agreement with the accountiro records and retums," or • certain disdosu￿s of Iruslees. remuwalion specIf￿d by law are not made.. or we have not reeeived all the information and explanations we wuire for our audit. St Elizatselh's Centre 22 Independent auditofs report 31 December 2020 Responsibilities of Trustees As explained more lully in the Trustees. responsibilities slalement. the Trustees (who are also the directors of the Group and Charity for the purposes of company lawl are responsible for the prepar8tion of the financial stalernenls ar*d for being sab'sfied that they give a true and fair view, and for suth internal conlrol as the trustees determine is necessary to enable the preparation of financial ststemenls that a￿ free frcmm malerial misststement. whether due lo fraud or error. In preparing the finanoal statements, the trustees are responsible for assessing the group's and the charitable parent eompany's abilrty to eonb.nue as a going concern. disclosing, as applicaNe. matters related to goiThJ concem and using Ihe going con￿rn basis of accounting unless the trustees either intend to liquidate the group or the CharItsb￿ parent company or to cease operab"ons. or have no realisb"c altemats.ve bL*t to do so. Auditofs responsibilities for the audit of the financial statements Our objeth.ves are to obtain reasonable assuranc£ about whether the financial slalements a5 a whole are free from material misstatement. whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assuranee. tMJt is not a guarantee that an audrt conducted in accordance with ISAS {UKI will a￿ayS detert a material misstatement when it exists. Misstatemenls can arise from fraud or error and are (x)nsidered malerial il. individually or in the aggregate, they could reasonably be expected to infftuence the economic deosions of users taken on the basis of these financialstatements. Irregula(ilies, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. lo delect material misstatements in respect of irregularities. induding fraud. The extent to which our prO￿dureS are caPa￿e of detecting iffegulants'es. induding fraud is detailed below.. How the audit was considered capable ofdetecting irregulanlies including fraud Our approach to idenlifw.ng aTh1 assessiTrJ the risks of material misstatement in respect of irregularities. including fraud aThJ non-compliance with laws and regulations. was a5 follows.. The engagemenl partner ensured that the engagernent team collectively had the appropriate competence. c8pabilities and skills to Klentify or re¢ogni5e non-compliance wilh applicable laws and regulabons: We identffied the laws and regul8ts.ons applicable to the tharity through disctjssions with key management and from our knowledge and experience of the charity sector,. We focused on specifK laws and regulations which we considered may have a direct malerial effecl on the accounts or the acts'vilies of the charity. These included bul were not limited to the Companies Act 2006, the Charities Act 2011, the Charities SORP and spec￿¢ Education and Care legislation relaling lo vulnerable individuals.. We assessed the extent of compliance with the laws and regulations identified above through making enquiries of key management and review of rninules of Trustees. meetings. St £l￿beth.$ cent￿ 23 Independent auditovs report 31 D￿mber 2020 Auditor's responsibilities for the audit of the financlal statements (continued) We assessed the susceplibilily of the charity's financial slalements to materi81 misslaternenl. induding oblaining an understanding of how fraud might occur. by.. Making enquiries of key. management as to where they considered there was suscepts"bility lo fraud. Ihwr knowledge of actual, suspected and alleged fraud," and ConsKlering the intemal controls in place to mrtigate risks of fraud aThJ non-compliance with laws arKI regulations. To address the risk of fraud through management bias and override of eontrols, we.. P&fomied analytical proeedures to identfy any unusual or unexr*ded relalionships; Tested and reviewed joumal entri8S to idenbfy unusual transacti￿$,. Tested the aUth￿is3ti0n of expendrture." Assessed whether jLvJgemenls and assumptions m•Je in determining the accounting eslimales were indicative of ￿tential bias. and Investigated the rationale behind significant or unusual transactions_ In response to the risk of irregularities and nOn￿pI1ance with laws and regulations. we designed procedures which included. but were not limrted to: Agreeing finanoal stslemenl disd05ures to LEfKlerlying supporting documentation; Reading the minute5 of meetings of Trustees: Reading Of5ted aTrJ CQC re￿rts. arKI Er￿ulring of as lo actual and potential libgation and daims. There are Inhe￿nt limttations in our audit prO￿dureS described above. The more removed that laws and wulations are from financial transactions. the less likely it is that we would become aware of non-comtAiance. Auditing stsndards also limit the audit pro￿dUleS required to identify non-compliance wth laws and regulations lo enquiry of key management and the inspection of ￿￿latOry arKI legal eorre4)ondence. if any. Material misstatements that arise due to fraud can be harder lo delect than those that arise from error as may involve deliberate COn￿alment or o)Ilusion. A further description of our respon5ibilitses for the audit of the finanaal statements is located on the Finanryal Reporting Council's website al w4vw.frc.org.uklaud1to￿resF￿)nSlb1lI1les. This description fomis part of our auditorfs report. St Elizabeth's Centre 24 Independent auditorfs r9POrt 31 December 2020 Use of our report This report is made solely lo the Charity's Mern￿r. in accordan￿ with Chapter 3 of Part 16 of the Companies Act 21Y%. Our audit work has been undertaken so that we might slate lo the Charity's member those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent ￿M)Itted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charills member, for our audit work. for this report. or for the opinions we have formed. 28 June 2021 Edward Finch Isenior Stalulory Auditor) For and on behalf of Buzzacott LLP. Stalulory Audrttif 130 Wood Street London EC2V 6DL st Elizabeth's Gentre 25 Con$olidatgd statement of financial activities 31 t)ecember 2020 1fvmonth perlod enrted 31 lJ•cember 2020 11.rykinth per*Jd ended 31 A￿U512019 Totri fvnds Ur￿stricted 2020 lunds É'ooo To&1 fimds 19 £000 Reslncted funds £'ooo Income and exptthd1￿1￿ Income from.. Donations and *g¥ies Other tradyq activit￿5 Investrmeni income Chantatme 3clNIi*s TRn$fer frum The C￿￿e98￿ of the Daughter5of the Cwss L*ge Tow Incom• 152 55 1.27 147 202 1,278 26 20,351 1.212 1.212 33 31,355 31.355 20.351 23 28.175 49.885 192 339 28,367 50,224 32.792 152 32,944 EKp•ndlture on: Raisiry fuThJs Costs of raising frjnds . C05t of 9D￿J5 sold other Jsts chartsb￿ a¢￿11￿$ . Home and Day Serwce5 . Sd)ool & Children'5 HOME . Coueg? & DOM￿1￿ Cwe Totsl expendityre 151 86 1386 829 829 15.395 10.759 6.461 34.052 242 14637 10.805 6,461 34,340 10.013 7.017 4.197 22.142 52 14 10,C65 7,031 4.197 22,208 66 Not 1•xpendi￿r•I itome lor the pts￿0d and nèt movemerrt in funds 112601 11361 11,3961 27.743 273 28,016 Fund5 al Ihe 5tsrtof Ihe period Funds at the end of the period 27.743 26.483 2n 137 28.016 26.620 27.743 273 28.016 There were no ots recognised gains or losses other than those slated above. l of the Group's activities derived from cLJnlinuing operations duriNJ the above finaneial periods. The notes on ￿Je$ 34 to 45 form part of these finanaal statements St ElrLatr*th's Centre 26 Balance sheets 31 December 2020 2020 £'o( 2020 É'ooo 2019 2019 £'ooo Charitable actrwilfjes Income from Home and Day SeNces Expenditure on Home and Day Sef¥ices Oeficbt on Home aTrJ Day Serw 14,464 115,637) 11.1731 13991 lrtome from S¢hool and Chibjren's Home Expenditu￿ on School and Children's Hory Suwus on School and Chthjren's Horr 10.729 110,8051 7,042 17.0311 (761 Income from coll￿ and DOM￿lIary Care Expenditure on Col*e and Dcffjuliary Care Deftrt On co1￿• and Dcm￿lI3ry Care 6.162 16.4611 3,643 14,1971 12991 15541 Deficit on chèritsble •¢llvOIOes 19421 from.. [jonat￿nS and lega￿9 Olher trading activiies Inve$tmenl income 202 1.278 26 1,506 1.212 1.589 Exp¢ndilur¢ on ra*ing funds 11A37) 19151 Net exp8ndbturn before tran5f8r from Th• Congregation of the Daughtets of the Cr055 of Ll¢ge {1.3961 13511 Transler from The Congregakn ol the Daughters cl the Cross of Liege 23 28,367 Net lexpendiiur•l In¢om¢ forthe period 11.3961 28,016 St Elizateth's Centre 27 Balance sheets 31 D￿mber 2020 Group at 31 Charity at 31 Dtcember December 2020 2020 £'ooo £'ooo Group at 31 Awust 2019 £'ooo Charity at 31 August 2019 £'ooo Flxed assots Tangib￿ assets 10 19.741 f 9.741 18,945 18,945 Current assets Debtors Short tern depJsit5 Cash al bank a￿1 in hand 12 13 13 1.695 3.345 3,996 9.036 1.695 1.485 3,562 5,719 10.766 1.485 3,562 5.719 10.766 3,996 9,036 CrÈditor5'. amtyJnts falling due within one year Nttt current assets 14 2,157 6,879 2,157 6,879 1,695 9.071 1,695 9,071 Net assels 26.620 26.620 28.016 28.016 R•presènt•d by: Funds and reseples Unrestncted fvnds . Despjnated funds . General fund Total Unrestr￿ fund5 1S 19,741 6.742 26.483 19.741 6.742 26.483 19.078 8.665 27,743 19.078 8,665 27.743 Restricted fund5 16 137 26,620 137 26.620 273 28,016 273 28.016 Approved by the Board of Tnjslees and signed on their behalf by". Trustee Dale.. 23 June 2021 Sl Elizabeth's Centre Company Registration Number 11087989 {ErKJL4nd and Wales) St Ehzabeth's Centre 28 Consolidated Statement of cash Ilows 31 December 2020 16 rnonth Period ended 31 December 11 month Period ended 31 August 2019 £'ooo Notes 2020 £'ooo Cash Ilows fr¢¥n operating activ•tiès Nel cash wowded by (used Inl i)perats'ng athitses 305 1481 Cash flows fr(xn in¥estin9 activitie Interest rec£Ned Purchase of tangible fixed assets Cash transferred from CongregatK*n of the Daughtets of LiegelRestricted Reserves Net cash (used In) provided by Irwestsry •¢tivitie5 26 17731 (2.2781 10,074 9.327 (2,2451 (De¢w￿l increa￿ In cash 11.9401 9.279 Notes to the statefflent of cash Ilows for the period to 31 fJe¢ember 2020. A AdjustmeDI of net lexpenditurel incorne before transfers to net eash inflow from operating adivities 11 month Period ended 31 August 2019 £'ooo Perlod ended 31 December 2020 £'ooo Net leXpen(hlu￿) income before transfers Net assets Iransferred frorn the Con9regatw)n of Dau9hters of Ihe Cr055 of Liege Depreciation charge Interest reCeiVa￿e Movernent in debtots excTruth"ng anYxJnts Iransferred Movement in credrtors excludiThJ amounts transferred Loss on disposal of fixe(l assets Not ¢a$h inflow fr £'ooi £￿00 Government fee5 arml grnnts L¢xal Aythorit*S (Social Servthsl Local Educaiim AulhNI￿aThJ Dep8rtftwt fly Edvcalion Department of Worx & P8ns•y He*th Aulhoni*s 12.e 4216 17,025 10.430 1.67B 12.108 120 1.036 30.289 82 32 9t 861 31.3S5 1.036 13. 10.430 24 5,894 21 Rent Day sa￿¥ Rest8ur8nt sa Other Total 2020 37 41 24 223 6,162 249 10.729 Unresrrdedkn￿s 11-monlh perirKI end6d 31 August 2019 Day Chhdrtrn's tk%Ariti8ry Ca Restrided fvnds Govemmentffees andgrants LtYalAulhonltes Sth7tssJ T.992 2.489 10,481 lorEduGatign 8,053 8T 1.451 20.072 73 87 1.451 4969 31 3.573 19 Rent D8yèdiW S Rest8ur8ntS8tes Olher Total 2019 46 46 27 24 103 92 2D.351 21 7.041 3.643 4 Cost of raising funds 16vmonth period ended 31 December 2020 Total £'ooo Unrestricted fvnds Restricted fvnds £'ooo Stalf costs Other costs Totsl 2020 121 121 1S1 151 St Elizabeth's Centre 35 Notes to the financial slalements 31 0￿mber 2020 4 Cost of raising funds Iconlinued) I l-month perth ended 31 August 2019 Total £000 Unrestricied tunds Restricted fvnds Staff costs Othercosts Total ￿19 74 12 74 12 86 86 5 Cost of goods sold and other costs 16-morth period ended 31 December Unrestricte(I fvnds £'c#)o Restricted fvThJ$ £'ooo 2020 Toial £'ooo Fundraising 3ctMties. induding the cosls of chanty s Cost ofevents bn¢LuLkng e%ents *off Staff costs ProFety 62 623 373 226 1.286 62 623 373 228 1,286 T¢)1412020 11-month P8rth ended 31 August 2019 Total Unrestrided Restricted fijnds fvftds Fundrasing èctivthes. ineluthng the costs of ¢h8rityshops . Cost of evenls inclrthg events staff . staff costs . Property . Olher Total 2019 25 25 484 172 148 829 172 148 829 St Elizabeth's Centrt 36 Notes to the financial statements 31 D￿mber 2020 6 Cost of charitable activities 16-month period ended H(kne & Schcol & College & 31 December Day child￿n'S tkjmiciliary 2020 ServKe5 Care Total £'ooo £'ooo £'O¢YJ Staff costs Awlemic Res￿enti Day Services Nursir Support Services Adnwnistrab"on 1,735 5,161 2.379 18,327 867 1,707 828 2,325 26.433 9,869 3.297 256 215 580 373 1,098 12.753 240 647 8.688 4.992 Facilities cosis" Depfeuab"c¥) Other Tolal 2020 620 671 556 2.136 1,482 2,852 32,903 ll-rnonlh period ended 31 August 2019 Total £'ooo 640 1,284 15.637 742 6,461 10,805 Home & School & Collegg & Day Children's Dwiciliary Servi¢gs Hoffie Ca Staff costs Acad8rniC Residenb"al D8y Serwces Nursing Svpwrt Seftvices Administration 1,385 3, 182 2, 160 11,441 616 1, 128 457 1,275 17.177 6.427 616 361 224 574 8.202 1.832 598 169 129 331 3.236 370 5.679 Facjlitses costs" Depreu4li Other Total 2019 617 100 244 4,197 2,373 866 937 21,293 374 421 10.065 392 272 7.031 Depreciation for the Centre totalling £207k {£121 k in 20191 has been allocated acr05S the three activities on the basis of cost. "Note that for the period up lo 31 August 2019. the full dewecialion charge for the ￿ntre is included in Facilities ￿51$ line. For the ￿rI(￿j up to 31 December 2020, the Iruslees agreed a eharvJe in allocati￿ to better reflert the spread of depreciation with the full charge being alI￿led across departments and only a Sha￿ of this being included within Faulities costs. St Elizabeth's cent￿ 37 Notes to Ihe financial statements 31 Deeember 2020 7 Net {expenditurel income This is stated after charg1ThJ.' 11-month period ended 31 August 2019 Total £'ooo 16-rnonth penod ended 31 December 2020 Total £'ooo StaN cosis In0￿ 8} Auditorfs remuneratth) Audit Depreuath3n of tangib￿ fixed assets Operat￿9 lease ￿nIa1$- land arnl buildiNJs OPera￿g lease renlals- other 27.130 17.693 28 1.482 397 79 22 864 173 65 Staff ¢o$ts. and Trustees. and Management Team members. remuneratlon 11-month period ended 31 August 2019 Total £'ooo 16-rnonth period ended 31 De¢eml)ef 2020 Total £'ooo Stari ¢¢)sts durirwj the per￿￿1 We￿ as follm.. Wage5 and salarie5 Soryal Se￿rity costs Other pension costs Empbyee ¢05ts Agency cost$ Total staff costs 20.343 1,565 752 22,660 4.470 27,130 12,422 988 373 13,783 3.910 17.693 Included above are £96k of redundancy costs 12019 - £25kl. All redundancy costs are recognised in the period as incurred and charge(1 lo the income and eX￿nty11Ure account. 11-month penod ended 31 August 2019 Total £'ooo 16-month pertod ended 31 De¢embor 2020 Total £'ooo Staff costs per lunctK)n were as foltr•￿. Cost of9enerats"rvJ dona1K￿5 and legacRs Events Shops Operats'ThJ actiwlies . Home arKI Day SeNice . Schc*J and Chiklren'5 Horr . Col*e and Domioliary Care 74 18 484 48 623 11,282 7.801 4.197 8.171 4,567 2,607 Suppc*t costs 3.058 27.130 1,772 17,693 Sl Elizab81h's Centre Notes to the financial statements 31 D￿rnber 2020 8 Staff costs, and Trustees. and Management Team members, remuneration {continued) The average number of employees. calculated on a headcounl basis. was as follows". 2020 No. £'ooo 2019 No £'LN)O Annualised staff costs. £20.348 t19,301 Due lo the diffefing accounting periods. slaff costs have been annualised above lo provide contextual infomialion regarding costs over a 12-month peri￿j, in order to better faolitate comparison to the *aff numbers. EMF￿Oyees who eamed £60.IY)O p8r annum and grossed-up over the 1&monlh period or more in the following rarw". 2020 2019 £60,001 - £70.OCKI £70,¢)01 - £80,0(K) £80.001 - £￿.000 £100.001 - £110,000 £111.001 - £120.000 £140.001 - £150,0 £220,001 - £230.000 No Trustees received any ￿Muneration durir#J the 1&month period and no Trustees received any reimtNJrsed expenses in respect of their servi￿5 durirvJ the 16-rnonth period {11-month period ended 31 August 2019- £87 to one Trusleel. Members of the Management Team are execulive Offi￿[S who were paid in aecordanee th thwr contracts of employment. Key management personnel The aggregate remuneration induding employer pension contributions for key management personr￿1 for the 16-month period was £958,746 (11-monlh peric%l ended 31 August 2019- £453.3001. The average number of ern￿OYeeS, calculated on a full time equNalent basis. analysed by ftFnetion is shown on the next page.. St Elizabeth's Centre 39 Notes to the financial statements 31 December 2020 8 Staff costs. and Tntstees. and Management Team members. remuneratlon Icontinuedl 2020 FTE 2020 FTE 2019 FTE 2079 FTE School Acadernic chiltJ￿n,S Hon 31 35 107 142 Collègè and Oomieiliary Care Academic College residenlial and tlorThaliary Care 13 14 65 100 79 Hom• Rewdential Day servi￿$ induding soual enterpn"se$ 204 25 180 28 H•alth Ag•ncy Central Support Ser¥lces Fund Raising and Shop5 M¥na9ement and Admini$trati¢)n 23 21 55 610 540 In addilion. the cost of agerry stsff represents appfoximalely 171 12019 - 1531 people on a full time equivalent basis. Please note the agency stsff FTE detemination covers the periods under review for 2020 arhy 2019 re5pectrvely. 9 Taxation As a registered charity. St Elizabeth's Centre is not liable to income tsx or corporation tax on income and capital gains derived from its charitable acbvibes. as it falL8 within the various exemptions available lo registere¢J charities. 10 Tangible fixed assets F￿ehOld . Assets land and under tryjildings ryjnstruction Fumiture Motor vehirjes £'ooo eqyiprrent £.￿0 Total É'ooo Group and charity £'o Co$t At 1 September 2019 Additions Disp05als At 31 December 2020 De9￿ClaI10￿ At 1 September 2019 Disposals Charge for period . School 18.299 792 3.537 538 399 41 22,235 2.278 ￿7 19.091 4.07S 409 24,482 694 2.296 300 3.290 1311 377 347 74 132 1.624 208 179 38 67 2,788 26 21 611 547 117 207 4,741 College Centre At 31 December 2020 Net book values Al 31 December 2020 Al 31 September 2019 329 17.467 17.605 907 1.287 1.241 80 99 19,741 18,945 St Elizabeth's Centre 40 Notes to the financial statemonts 31 December 2020 10 Tangible fixed assets Icontinuedl Fixed assets indude buildings constructed in 199(k91 and 2￿1-02 costing £1,938.OCrf) in total, whith are subject to jcmnt venture arrangements wilh Aldwyck Housing Associalion (now Catalyst Housing knmiled) and Springboard (now Genesis Notting Hill) Housing Assoaation. £1,251.000 has been re￿Ived in the form of gfanls by the Housing Assoaalions in respect of Ihese buildings. The joint venture arrangemen15 include the grantsng of 99 year leases lo the Housing Assoaations of the land on which the buildings are built, and management agreements renewable every five years enable the Group and Charity to operate the buildings. and be respon￿ble for the care ol the residents occupying them, as an integral part of the Home. 11 Investments Sl Elizat*lh's Centre Wellare Services Limiled (In￿rpOrated on 25 October 2019). 8 private company limited by guarantee and not having share capital. is under the control of St Elizabelh's Centre. The company did not trade in ts peric*J ended 31 De￿fflber 2020. 12 Debtors Group •t 31 Charity at 31 Oecernber Dècembor 2020 2020 £'ooo £'ooo Group at 31 Augus1 2019 £'ooo Charity at 31 August 2019 £'ooo Fees Other debicKs Prepaymenis and accrued income 1,139 137 209 1,485 1.139 137 209 1.485 45 290 1,695 290 1,695 13 Short terni deposits and cash al bank and in hand Group at 31 Charlty at 31 Group at December December 31 August 2020 2020 2019 t'ooo £'ooo £'ooo Charity al 31 August 2019 £'o Short term depjsits Cash at bank and In har . CUr￿nt accounts Cash in hand 3.562 3,562 3.949 47 3,996 5.694 25 5.719 5,694 25 5.719 47 3.996 Total 7,341 7,341 9.281 9.281 14 Creditors: amouTrts falling due within one year Group at 31 Chaiity at 31 December Oecember 2020 2020 £'ooo £'ooo Group at 31 August 2019 Charrty at 31 August 2019 £'ooo Suppl PAYE and social wwrily Other creditors Attruals Income ￿eNed in advance 367 367 461 271 184 568 211 1.695 461 271 184 568 211 1,69S 187 187 1.142 157 157 2.157 2.157 In 2019 Ihe holiday pay accrual was deeme(I lo not be material. Due to Covid-19 the holiday pay acerual for 2020 has been estimated at £39S.0￿12019 £Nill St Elizabeth's Centre 41 Notes to the financial ststements 31 December 2020 15 Designated funds The unrestricted fund5 of the group and charity indude Ihe following designated funds which have been sel aside by the Injstees for S￿IfiC purposes. A131 Septernber 2019 t'ooo Ad(kn"ons Deprec4ab"o December IDi$posals 2020 £'ooo £'ooo Buikling rep￿Cernent fvnd FrAed assets fund 15S 18.922 19,078 1156} 819 19,741 19,741 Atl Seplember 3018 At31 August 2019 £'ooo Addifvons /Dtsposals De￿￿al￿On £000 Building ￿placemen{ lund Fixed assets 156 18.922 19,078 18.922 19,078 The fixed assets fund represents the net book value of fixed assels which are used in the day-t¢>day work of the Charity and hence a￿ not available for workirtsJ capilal. The buildir¥J re￿a￿rne￿t fund has been established to set ashde fl￿dS for future refurbishment ol Jubilee House. 16 Restrided fvnds 31 Develop- December Develo￿ 31 August rnent5 2020 ments 2019 £'ooo £'ooo Group arKI Charity £'ooo £'ooo Total Income Tola exFenditur8 152 {2881 152 12881 339 1661 339 1661 (Decrease) inc￿8$e in fu￿1$ {136) 11361 273 273 Balan¢e al 1 September 2019 273 273 Balance •¢ 31 December 2020 137 137 273 273 Developments represents funds raised lo redevelop the Charity ar￿ ils activitie5 le5S expellditure on the fedevdopment to dale. 17 Pension commitments The Charity makes contn"butions in resFect of the ojrrent Servi￿ of its employees lo either the Teachers. Pensions Scheme or the Scottish Widows scheme. The Scottish WKlows scheme is a defined contritKJtion scheme. The Charity matches employee contn"buts"ons to the Scottish Widow5 scheme belw*n 1% and 6%. St Elizateih's Cenlre Notes to the financial statements 31 December 2020 17 Pension eommitments leontinued) Teache￿$ Pension Schenw (TPS) The Teachers, Pension Scheme {TPS) is a slatutory, contributory, defined benefit scheme. govemed by the Teachers. Pensions Regulations 2014. mem￿r$hIp is automatic for full- tirne teachers in schools_ All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to whth tM)Ih the member employer makes conlrityJtions. as a percentage of salary these conlribubons are uedited lo the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parfiament. The Government Actuary. using nom￿1 acluarial principles. conducts a lormal actuarial review of the TPS in accordan￿ with the Public Servic£ Pensions (Valuations and Employer Cosl Cap) Directions 2014 publisheol by HM Treasury every 4 years. The aim of the review is to specify the level of fulure contributions. Actuarial scheme ¥aluatK)ns are dependent on assumptions about the value of future Costs. design of benefits and many other factors. The latest actuarial valuation of the TPS was earried oui as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elernents of the valuation 8nd subsequent consultalion are". • employer contribulion rates set at 23.68% of pensionable pay {including 0.08% adminislralion levy} * lolal scheme liabilits.es {pensions currendy in payment and the estimated cost of lulure benefits) for service to the effective dale of £218.1￿ million and notional assets (estimated future contributions together with the notional investments held al the valuation datel of £196.1W million. givirKJ a notsonal past Se￿￿ deficit of £22.000 million • the SCAPE rate. set by HMT, is used lo determine the notional investment relum. The current SCAPE raie is 2.4% above the rale of CPI. The assumed real rale ol relurn is 2_4Y• in excess of pricEs and 2% in eX￿sS of eamings. The rate of real earnings growth is assumed to be 2.2%_ The assumed nominal rale of return including eamings growth is 4.45%. The employer contributions payatAe lo the scheme for the 16-monlh period were £178k 111-month period erKled 31 A￿USt 2019- £92k). A copy of the valuabon report and supporting documentstion is on the Teachers. Pensions website. Under the definrtions set in FRS 102, the TPS is an unfunded multi-employer pension me. The academy trust has accounted for ils contributions lo the scheme as if it were 8 defined contribution stheme. The &8demy trust has set ¢xrt above the information available on the scheme. St Elizateth'$ Centre 43 Notes to the financial statements 31 t)eeember 2020 18 Leasing commitments Operating leases Al 31 December 2020 the gfOUP and charity had total commitments under non-cancellable operating leases for equipment as fdlows.. Land and buiklings 2020 2019 £'ooo £'ooo Other 2020 £'ooo 2019 £'ooo Operating leases whith expire". Within one year Within ￿ lo fve years More than S years 11 21 152 325 835 1,169 400 416 409 173 19 Contingent liabilities There is a potenkn.al liabilty the group and (*afty to repay govemmenl grants of £646.LKKJ received towards the cost of Cookson and Chilton houses in the event of the sale ol those hwses. There are Th) plans lo sell them. There is also a potential liability to repay Housirg Association grants in the event of the sale of the buildings constructed under the ￿Int venture arrangements or in the event of a breach of the management agreements (¥ee note 10}. There are no plan5 to Sell the buildings. 20 Capital commitments The group and charity had capital comfflitrnenls of £157k at 31 t)ecember 2020 in respect of the asset under eonstruetion included at note 10131 Augijst 2019- £nil}. 21 Analysis of net assets between funds F￿e￿ TO￿ un- Totsi fiJTrJ fij JTrJ funds 2020 £'ooo Group and ¢h•rity Fixed assets Cash Othera￿ent assÈts Creditry5fallY¥ due r**ye Tolal net assets 19.741 19,741 7,204 1,695 12.157) 26.483 19.741 7.341 1.695 {2,1S7) 26,620 137 1.695 (2.157) 6.742 19.741 137 Fiyad Tolel un- Tolal luncls 20f9 me Group and chèrlty 1&922 23 18.945 78.945 9.281 1.485 11.6951 28.016 2T3 156 1.329 {1.695J 11.695) 27,743 Tot*nel asseis 156 1&922 2T3 St Elizabeth's Cent Notes to the financial statements 31 Decemt*r 2020 22 Related parties With the exception of the amounts due to and from the charity's whdly owned subsidiary, St Elizabeth's Centre ha5 identified no related party transactions. It continues lo have an i￿lependent working relationship with The Congregation of Ihe Daughters of the Cross of Liege. a charity. 23 Nel assets transferred into the Charity On 30 September 2018. the followiThJ assels were transferred lo the Charity from the Congregation of the Daughlers of the Cross of Liege: £'ooo TarvJibk fixetl assets Deblcis Cash CrediLors'. an￿unt$ l*ling in kss Ihw 1 year Tolal 19.051 3,106 10.074 13.8641 28,367 St Elizabeth's Centre 45