ST. JOSEPH'S SPECIALIST TRUST (Registered Charity Number 1177680) REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2020 Haysmacintyre LLP Chartcred Accountants R¢gistered Auditors
ST. JOSEPH'S SPECIALIST TRUST FtNAf4CIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 CONTENTS P•ge Admillistrdtive infortnatitsn Trustees. Report ststement of Trust¢es' Responsibilities Independent Auditors. report 9-10 Statemellt tsf firtancial activities Balance sbeet 12 Statemellt of cash flows 13 Notes to the finat)cial statem¢nts 14-20
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 AUGUST 2020 GOVERNORS AND CHARITY TRUSTEES The board of Trustees was originally appointed on the date of incorporation {23 March 2018). In Addition to Tnjstees. St Joseph's Specialist Trust ("St. J05eph'5") ha5 a board of Governors and some Govemors are also Tnte¢s The following Tn]ste¢s and Governors all served in otTice througlLOUt the period except where illdicated. Trustees Peter Turvey. Chair Fr. Kevin Dring Joanna Horllewood B¢rn2rd Smith Una Corning IAwrence Bartel (from 7 FebNary 20201 Peter Braganza {from 20 September 2020) Rebecea Vicker5 (fro July 2020) Clifford Faulder Iresi8ned 18 October 2019) Ryan Clement {r¢$igned 18 March 2020) Kcvin Sloan (resigned 31" August 2020) GoverDors Una Comin& Chau. (from September 2020) Bernard Smith. Cbair. (Until 31° August 2020) ADni¢ Sutton Jo Ja¢qu¢5 J¢an K¢atie Getrma Mitchell Andrew Pusey Melissa Longmire (frorn 24 August 2020) Rebe¢¢a Vi¢k¢rs {resI]ed JY 20201 KeviD Sloan. {iesigned 31" August 20201 ETnTna Brown {TC5igned 18 F¢bnJary 2020) Nick Durling (re5i8ned 24 Mar 2021) St¢v¢ Fudge (resigned 17 July 2020) Reglstered thrity number 1177680 Reglstered Offl¢e Amlet5 LaDe. Cranlei8b. GU6 7DH Website Yw.st-josephscrat)leigh.surrey.s¢h.ukl Bankers Bar¢lays Bank pl¢ I Chur¢hill Place IA>ndon E14 5HP Audltor Haysrnacintyre LLP 10 Queen Street Place London EC4R IAG
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 31 AUGUST 2020 The Trustees present their ajjnual Trusts¢s' Report for the period ended 31 Au8Wt 2020, tog¢th¢r with the audit¢d fu)ancial 5tatetnents. Abomt tbe Trust St Joseph's Spe¢ialtstTTUSt comprises a norL-m&intained, co-educational schooll college and registered cbildrell's home for students aged 5-19 with ASD & Complex needs and ttvo supported living houses for up to I I vuln¢rable adults. st. Joseph's was found¢d by the Sisters of thE Sacred Hearts of Jesus and Mary and, whilst a Catholic settin& w¢l¢omes those of all denominations or none. On 1st September 2018, St Joseph's Specsalist School and Colle8e. an operation of the Diocese of Arundel aDd Brighton. became an independent Ch8rilabl¢ In¢orporated Organisation (CIO) aDd assets and liabilities trdnsferred fron) tbe Diocese to the Trust under 8 999 y¢ar l¢as¢ with p¢pp¢r¢orn rent. SI J05eph'5 Slts on the fonner Wyphurst Estate in the Sutrey Hills. The main house, Si[0und1ftg buildings, some hislori¢al, some purpose developed, provide the secure and tranquil Setting for some of the complex and challenging young peoplc in the UK allowing them to benefit from highly specialkst education, care and therapy. The TntbeDCfitS from atherapy¢entr¢providing spe¢¢hand language, oc¢upational, art, drama and music theTapi¢s, an artsc¢ntr¢ with orti5t ill r¢sideTtce. sports facilities, a swimnjing pool, horticulture provision, outdoor Classrooms, a nature reserv¢ and entetprisc venture5 includin8 a studeut ruD cafè. St J05epb's operates a unique system wbich recogDises that age divided key stages are rnostly unhelpfid for young people with complex leaTllill8 need5 and the School and college are therefore based on ability at learning style and Sttted by the thr¢¢ ¢du¢ation pathways whi¢h rang¢ from Explor¢rs (P&E8), to Diwover¢rs {P8-NC2) and Adventurer5 INC2 upwards). St Joseph's further differs from other settings in that each class 15 run by a trio of teacber. occupational therapist and speech and language therapist with a tearnof teaching assistaE)ts and designated therapy assistants who work to remove the obstacles to learnin8 which traditiortal educational approa¢hes have failed to a¢hi¢ve. St. Joseph's students hav¢ usually experien¢ed ¢ri$is, rejection or exclusion, eveD ill th¢ sp¢cialLSt sectorand it is vital thatthey are provided with a truly individualised approach inorderto overcome their fear of School and eTnbrace learning pertinent to their future. Mental health and well-being ate supported through dailytherapy l¢d group sessions. Uniquely, St Josephs has a clinical psyehologi5t and psychiatrsst who provÉde an in-bouse Child and Adolescent Mental Health Setvi¢e (CAMHS) for students as r¢quired. Supported Living for vu]nerable adults 15 provi(kd attwo locatio3 away fromthe tnain 51tc. Sprillgvale. 0ri8inally a studellthouse, was laun¢h¢d a$ adult $upport¢d Ikving in 2012,. staDding on the edge of Cranlei8b village, it enables teDaots to be a part of the local ¢ommwiity with the so¢ial and traujing opportunities, retail and leisure facilities this offers. In 2015 a second provision wa5 opened at Long in the more nwal Beare Green area, a setting well suited to tenants for whom community interaciion is extremely challen8in8. Long Barn 55 owned by equity group and laTJdlord. My5hon. and stafftd by St Joseph's expert car¢ provi51011. Sl Joseph's is at the heart of the Cranleigh community. Goodwill towards the operation has attracted local patronage for various ventutes. St Joseph'5 work5 bard to continue to attract the significant donations necessary for th¢ continuatiort and improvement of its aims. RevKeTV of our Perforznance ID 201912020 St Joseph's Is regulated by Ofsted for its education and cbildren's borne and by the Care Quality CoD]n]110 {CQC} for its supported IiviDg provision. Ofsted Education's last inspection was in Novernber 2017 when inspectors maintained their assessment thai the education provision is Outstanding in all areas. This was supported by an overall grade I for ¢ffectiv¢n¢ss by the inspectors of the Catholic Schools In5PeCtorate in De¢embei 2019 and also more recently Confmed. in Marth 2020. by an inspection by West Sussex Loeal Authority on bchalf of the CCRAG- a joint eornmissioning group of local authorities. As aD outstanding special education provider, th¢ school expects a further re-inspection by Ofsted ¢v¢ry 3 years althollgh the Coronavin]s Pandemic may affect inspection scheduling. CQC inspect adult supported living provision within 30 month5 of previous inspections. Springvale last was inspcctcd in November 2016 and was assessed 'Good" across all aspects of provision, likewise Long Barn, itJspe¢led in December 2016 was assessed "Good" across all aspects of provision.
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED JI AUGUST 2020 Ikgal Objeets of the Trust St Joseph's objects are the advancement of the Rotnan Catholic religion and thc advancement of education by.. (a) th¢ m2nagement, maint¢nance and development of the School and Colleg¢ for childr¢n and young p¢opl¢ with complex and behavioural diffJculti¢s irl accordallee with the tenets and practices of th¢ RoDJan Catholic Church and ancillary ¢haTitabl¢ pra¢tices,' and (b) The provisioll orseu¢ housing to adults with complex learning and beh&vioural difficulties. The Objects mayonly be amended withthe consent ofthe Trustees of St Joseph's Specialist Trnst and the Bishop ofthe RC Dioc¢se of Anmd¢l & Brighton. Onr Pwryose, Stsnd#rd$ *lld 'No limits ... jwtPOsJibiliheJ' St Joseph's seeks to create a supportive Christian environment founded in Catholic doetrine in which embedded therapy. care and edu¢ation are tailored to m¢¢t the very $pe¢ifi¢ n¢¢d$ of young people with ¢omplex l¢arnit)g difficulties so th¢y tnay aspire to reach their 11 pot¢ntial. St Joseph's objects for the publi¢ benefit under its Constifvtion are. _ (a} thc advancement of the Rornau Catholic religion.. and in accordance with the tenets, teachiTh8 and practices of the liOnll Catholic religion.. (b) the advan¢¢ment of ¢du¢ation and traiJJing', aud (¢} the provision of resid¢nti81 accommodation and support to those in nee irl particular, but not exclusively within the Diocese by.. (a) the management, mait)tenan¢e and development of St. Joseph's Specialist School and College for children and young people with Complex learning and behAvioural dkfficulties and aucillary charitable activitie5. and Ib) the provision of residential accolnmodation to children aj young people. and 5UPPOrted hosIng to adults, both with complex learning and bebavioural difficultÉes. These Objects nmy only be amended with the ¢ons¢t)t of the Bishop. St J05q)h'8 Jnaill aims are. {0} To b¢ a total learning ¢nvironm¢nt wh¢r¢ ¢v¢ry a$p¢¢t of th¢ students. experien¢e helps them in the development of new skills and understanding which they Can use now. and which will Continue to b¢ of Wdlue in the future. (b) To provide a pastoral support for students, tettants and fa]niSie5. enabling them to rneet their challenges together. (c) To offer a service to families atMI education authorities, iespondingto needs and adaptin8to changes indemand tjiatcannot be met in the mainstream and maintained sectors. (d) To achi¢Ye exemplary Care, education therapy, and provide Spirial fOrtide. St Joseph's seeks to achieve these aiD)s by adherin8 to the following principl¢5,' (a) The d¢livery of teaching, whi¢b is either good or outsta1]ll8 based on an enri¢hed and balanced curri¢ulum, ¢ontributes to achievement with high levels of literacy, knowledge. learning. understanding and Skills appropriate to students, cognitive abilities. Achievement continue5 to be 8ood or outstandin8 for all groups of pupil. (b) Students are prepared as well as is possible for the next stage of education, employment, s¢lf-employment or training. In addition, specialist and impartial Careers guidance helps students to make infornRd choi¢¢s about wl]ich courses suit their academic needs and aspirations to meet their goals. {c) Students and adults are thoughtful, earing and respectful citizens. They take responsibilÉty for keeping themselves safe and healthy and contribute to wider society and life in Britain. {d) The highest expectations of staff and aspirations for studertts. the thoughtful and wide-ranging prtslnotion of students, spiritual. n)oral, social and cultL]ral development and their physical well-being enables them to thrive ID a supportive, highly cohesive learning community
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES. REPORT FOR THE PERIOD ENDED 31 AUGUST 2020 St Joseph's principles {¢ontinued),' (e) Leaders pursue ¢x¢ellen¢e in platlg and rnanagsng study programme5.' StudetLt5 undertake individualised Icarning that builds oll their priorattaillrneikt and meet5 the requirements of16 to 19 provision. This strategy improves outcomes rapidly and reduce achievement gaps by monitoring the qualityof teaching, learning and ass¢ssm¢nt 2$ well as students. retention, progress and skill development. {fj Students. spiritual, moral, so¢ial and Culttwal d¢v¢lopment equips them to be thoughtful. Caring and activ¢ cittZen5 in school and in Mder society. The Catholic ethos of the school p¢rmeate5 all areas. ) Students have excellent edu¢Ational experiellcts at sGhool. arc collfidellt and conduct then]selve5 well. Tbey are pullctual, attelldaDc¢ 15 high. They have exceUeDt personal and social skills aDd widthake high quality non-qualification activities and work experience tbat rnatehes their needs. Ih) All Students progress and most will ¢omplet¢ their study programme. a¢hieve quaiificatiolls relevant to their fvture pla¢¢ment and move on to FE colleges, supported living or r¢sidentlAI sp¢ciali5t colleges. (i) Swdents value their edu¢ation and that their ¢ondu¢t reflects the school's effective 5trate8ie5 to promote bigh standards of behaviour. Si Joseph iDvesis in abeb74viourrnonitoring system called Sleuth thatenablesu5 to moDitor allpupil'5 behaviour and consequene¢s aeros5 tbe School, College and Residential. (i) There should be a sustained improvement in stud¢nts' behaviour and ¢x¢¢llen¢e should be maintained. Students work hard with the school to prevent all fornjs of bullying behaviour andlor use of derogatory or aggressive language. Tbey arc supported to understAtsd tbat some bebaviour5 are a result of learning dSSVdbilitie5 and are 8uided into appropriate re5PODses and coping strategies. (kl With support that students can explain accurately and confidently how to keep thernselv¢$ healthy, maintain fjthess and their enjotional and mental well-being all within tlie lityiting factors of their l¢arnittg disabilities (l) Studetjts are safe and feel safe, they are subject to high levels of supervision ill on-line activities. learning to Staying safe OD-lin¢ and baving an ullder5tandiDg of danger5 of inappropriate use of tnobile technology and 50eial Detworking sites (m) Supported Living pfoYisioD for adults is also either good or outstanding and th¢ support fa¢ilitates opportwJiti¢s for vu]nerable adults to participate widely in Social and work based activities. (n) Saf¢guarding 1$ s¢¢n as paramount and th¢ systems and pra¢tical operations are biEhly effective. Goverllan¢e The Tntstees and Governors are listed on page l. The Board of Trustees, as the accountable b(Mly for the major decisions of St Joseph's, ¢t)$ures ¢1ority of vision, ¢tho$ and strategic dir¢ction,' holds the ¢x¢¢utive lead¢TS to ac¢ount for the perforn)an¢e of the organisatioll and its [nall#ge¢t. and oversees the financiAI perfomwKe of the chatity. The Board meets at least four tiine5 a year. Day to management of the charity is delegated to th¢ Exe¢utiv¢ PTill¢ip&I who r¢ports regularly to the Board of Trustees on the progr¢$s of k¢y matt¢rs. The Board of Trustees has delegated to the Board of Governor5. responsibility for overseeing the management of the School and College including polhcies, staff8 al use of resources. The Governance arrangements for the School and College fall under the Non-maintsined Special School Regulations and mirror school g0y¢rnan within th¢ Local Authority maintained sector. The Ttuste¢s have taken steps to ensure that they bave the breadth and depth of experieajce and understanding to carry out their duties effectively and efficietltly particularly a5 re8ard5 educat20n. SEND, eare and therapy, fJnat)¢ial, audit and legal, health and safety, HR and rernuneration. The recrnitment of suitable and available individuals remaiTJS a ¢hallenge in Gommon with marty charities. The Trustee5 and the Governors uDderstalldtheirrole5 inrelation to equality and div¢rsity' and Comply with legislativ¢ reqllir¢m¢nts in¢luding thos¢ r¢lating to disability, safeguarding, and health and safety.
ST. JOSEPH'S SPECIALIST TRUST TRUSTELS, REPORT FOR THE PERIOD ENDED 31 AUGUST 2020 Managernent The operational rnana8ernent of the Trust 15 delegated to its Core Senior Leadership Tea which comprises.. Al1¢ Slltto Executive Principal Alan Day, Direetor Residential Care Simon Jaggard, Dir¢¢tor of Education (H¢ad Tea¢her} Karert May, Dire¢¢or of Therapies Elizabeth Hurst, Deputy Director IBusirtess) Elizabeth Sander5. Deputy Director (HuTnan Resource5) Cedric de Souza, Dq)uty Director {FiDance) Employee Involvement St Josepb's policy is to wtsrk collaborativtly with etnployees on tnatters likely to affect employees, interests through organi5ed fon]ms such asthe anonymous"Askthe B055"online facilityand regularstsffupdates via week]y meetings and staff email circulars. Tbis njay b¢ ittformation regarding matters of personal, local or national ¢oocern' w¢ s¢ek to achi¢ve a comtnon awaren¢ss on matters relating to strategic, operatiotjal and finat)cial fa¢tors aff¢¢littg St Joseph's p¢rfornian¢e. There is sound ¢wdenc¢ that the Executive Principal leads the Core Senior Leadetship Team and wider management team itt Eiving serious consideration to comprehensive feedback to all staff queries. Equ#lity ADd Divtriity St Joseph's bas a robust Equality Policy and Safer Recruitment process and is committed to ensuring equality of education, care and opportunity for students, residents and staff irrespective of race, gender, sexuality, disability, or socio-¢conomi¢ ba¢kgrow)d. We aim to encourage iwlusioll and diY¢rsity in whi¢h all thos¢ ¢ontt¢¢t¢d to the Tnjst feel equally valued are abl¢ to participate fully. Pllpli Data The school parti¢ipates in th¢ Department for Education (DfE) at)nual census in January eoch year. The school reported the folltswittg pupil nUbErS. Key 2020 Stag¢ Pupils ofwhick 2020 Boarding Boarders Key 2019 ofwhich 2019 Sta8¢ Pupils Boarding Boarders KSI KS2 KS3 KS4 KS5 Weekly Terndy 52 week KSI KS2 KS3 KS4 KS5 Weekly Tennly 52 week 10 22 14 17 16 24 26 Sllpported Living Tenancies at Allgust 2020.. Sprin8Yal¢= 6 t¢nan¢i¢s LA)ng Barn= 5 tenan¢ies. Both ar¢ at maximum ¢apa¢ity and are un¢hanged from the previous year. Admlssions #Dd Futtding Admissions criteria for the school and college requires potential Students to have an Edueation, Health and Care Plan that 5pecifie5 a disability. Residential placements are only available to students already in or taking up an academic pla¢ement. Adults a¢c¢ssing supported living ac¢ommodation must initially meet asscssment criteria of Local Authority Adult Social Car¢ or Coniinuing Health Care in OTder to apply for the provision. St Joseph's specialises in prolision designed to meet the needs of those with COTnplex and sigllificant learning difficulties. All education, care and adult supported living 5¢rvices are charged for. The majority of Students are pl8¢ed and funded by LA)cal Authoriti¢s and tenants are charged reDt capped at Housing Benefit maximum.
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2020 Compllallce wlth Charlty Commlsslon Guld4Dce alld Publlc Benefit Th¢ TnletS have paid due regard to guidance issued by tbe Charity Collllnis$ion iti deciding what activities the cbarity should undertake. The Tntte$ have considered the question of public beTJefit and are sat15fied that the Charity's activities are a5 defined by charaty law and Charity Commi55ion regulation5. St. Joseph's is a member of the National Associ&tLOll of Independent Schools & Non-maintained Special Schoo15 (NASS) a membership or8anisation working with and for special schools in the independent, vollllltary and private sectors within the UK. The Executive Principal is a Trustee of NASS ensuring that St Joseph's is fully involv¢d at a natiotjal l¢v¢l within the sp¢¢ial ¢du¢ational sector. In addition, the Head Tea¢h¢r ensures that St Joseph's WOTks ¢ollaboratively with the local maintained sector, and is an active member of the Cranfold Ctsnfederation. an informal Gonfederation of schools iti th¢ South Guildford are& R¢5erve$ polfficy The res¢tv¢s available to the Tnt at year end are £17.8m (2019.. £17.9ml. Excluding tangible fixed assets which are required by the Tnjst to deliver its charitable activities and therefore are tjot readily realisable, the free reserves amounted to £2.6 (2019.. £2.4m} at the end of the financial p¢riod. As Teported in the Accounting Polici¢5 (note l), the Trusteesbelieve there are no material uncertainties that impact the goiDg concern requirernents of the Trust. The Trustees coDsider that the level of free reserves needs to be increased to improve the resilience of the Trust's tre operations, protect against seasonal fluctuations in outstanding debtors. PTovid¢ for essential capitsl ¢xpendittw¢, at)d provide a buff¢i for un¢xpe¢ted ¢onting¢n¢ies. Rlsk AuesJm¢nt and Rlsk Management tkning the period, the Trustees ¢ontinu¢d their oyersight of the major risks to which the Trnst is exposed. These have not Cbanged sigtiificalltly duriug the course of the year and include the followiDg lljOr risks. MLTOR RtSKS MITIGATION Safeguarding Concerns The safeguarding Team Conttnues traitting and monitorillg activities to addrt&s risks Impl¢Jn¢nt Busin¢ss Continuity Plan iocluding media tnatjagement, discussions with local authority, Ofsted and CQC. managing parentavguardians roncerns Maintaill Ofstedand CQC staDdards. applystriet procedures with new placements and changes in ¢ontracts, manage cash flow issu¢s due to delay¢d payments of billings Maintain hvo separate back-ups of data and multiple layers of protection Reputattonal damage Reliance on local authority pla¢¢ments Cyber security Trustees have directed the Cor6 Senior Leadership Teamto focus on risk redctiOn in 2020121 in oiderto ensure the continued hs8h qua]ity provision that has been njaintained over recent years. Future Pign5 Plan5 to build a Work Skills & Enterprise Centre conmjeneed in March 2021, the proje¢t ¢osts are exp¢cted to be fully met through fundraising and it will add further valu¢ to the provision for children and young people already in place. It will also serve as an outtea¢h amenity for the local COMunIty The Building is expected to be fully cotnpleted and operational by the start of the acadeTniC year 202112022. In addition, the Springvale Eesidence will be extended to provide further acconJmodation fa¢iliti¢s for another tenant which will increase ttet income generated by Adult Supporied Living. The Trustees a aware of the significant ¢hall¢nges to both St. Joseph's and its stakeholders ov¢r the short to medium temi as a result of ihe CoronaviTUS parid¢mi¢. UTJ]ike any charities and educational settings, at the date ofthe approval of these financial Statements, St Joseph's renin5 fully open and providing all Usual services together with a safe environment for students, and staff and their families. The Tnt¢¢$ ar¢ satisfied that St Jos¢ph's is well able to meet and ¢out)ter the unpre¢edented challenges of this global crisis.
ST. JOSEPH'S SPECIALIST TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUCUST 20211 Fln8n¢lAI Rev5¢ Th¢ SunmTrary Finan¢ial Stat¢ment show$ a n¢t d¢fi¢it of £54k for the year to 31 August 2020 following a surplus of £72k in the previous year 2019. The TrteeS are ¢ontinuing th¢ir strategy of deploying all r¢sow¢¢s to inv¢st in the edu¢atiot)al 8t welfare purposes of the Trust. The principal source of income is fees alld bursaries received froln goyertllnent authoritie5 which represent 980/0 of income (the same a5 the previous year 2019). Unforesecn costs incurred in the year were a direct consequence of the Covid-l9 pandemic, including Staff absence, addit%onal premises costs to create saf¢ and compliant spac¢s, at enhan¢ed IT ¢osts to allow working from hom¢ to be as effective as possible. The key to minimising such unavoidable ¢o$t$ was th¢ ¢ffectiv¢ Clo$¢ monitoring of developments and a re-organisation of re80ur¢es and facilities os well as maitjtaining ¢los¢ communication links with all the facets of tbe St Joseph's community of parents I guardialls. staff atsd local authorities by the School Leaderthip Tea. The Trust cOntille5 to apply robust C051 controls at the point of pl)nIng a5 well as delivery. Compensation was received from local 8overDment authorities as part of the Infection Control Fund compensation scheme. I)ue to Govemm¢nt r¢stri¢tions directly link¢d to th¢ Covid-19 pand¢mic, enty of new pupils wès postPOD¢d T¢sulting in a rll¢¢d number of admissitslls. It is estimated that iti the absfflKe of Covid the accounts would have shtswn a snthll sulUs. Donations received in the year were largely in respect of the planned Enterprise centre. Cash flow contirtues to be a ¢ycli¢al issue exa¢erbat¢d this year with in¢reased significant difficulties in colle¢tions from local authorities who were also affected by shortages of available staff aTJd other Covid-19 pandeTlliC restrictLOll5. All balaDces are fidly collectible and there are no bad debt provisions reported in the stated fancial8. The Trust has widertaken a condition sutvey of each building wtthin the main h0o1 I college estate to professionally assess txpected maintenallce costs and replacement of key capital Item5 over Y4 ten year period. Thi5 facilitatcd the forecasting of casb flow and budget plannin8 over this period and assisted with a eontinuing strategy ofinvesting in the future resourcing ofthe Tn]st. The Trnst retains the use of the land and premises at the school at coll¢ge and at Springv31¢ for a peppercorn rent for a p¢riod of 999 years dollated by the RC Diocese of Anmdel & Brigbton in 2018. Summary Fknnell St*temellt 2020 2020 2020 20JQ ChildTell & Young People Adult Supported Livin8 TotY41 Total INCOME Fees received Grants and Bursaries Other income received 7.796,575 768,875 113,408 1,071.380 8.867,955 768,875 230,244 9,1,956 736,899 112,245 116,836 Total income 8,678,858 1,188,216 9,867,074 10,014,100 EXPENDITURE Staff costs PreTni5es c05t5 Resource e05ts Professional fees Other costs 7,304,218 959.796 364,415 145,120 5.232 1,098,375 44,153 8,402,593 1.003.949 364.415 145,120 5.232 8,454,323 959.237 371,052 150,613 6,660 Total expenditure 8,778,781 1,142,528 9,921,309 9,941,975 Net surplus/ (d¢fieit) from ¢ort 9¢tlvltles (99.923) 45,688 (54.235) 72,125
ST. JOSEPH'S SPECIALIST TRUST STATEMEIYT OF TRUSTEES, RESPOIYSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2020 The Tnt¢eS are responsible for PTeparhn8 the Trtee5, Report and the fjnaneial ststements in accordance with applicable law and United Kingdom A¢¢ounting StatMlards (United Kingdom Generally Accepted Aecounting Practice). The Truste¢s e required t(p prepar¢ a fitjancial slat¢ment for ¢ach financial year that gives a trne and fair view of the state of affair5 of the ctwity and of the incoming resources ond appli¢ation of resowces, including the income and expenditur¢, ofthe charity for that period. In prepillg these financial stateinents. the TtU5tee5 aT¢ required to.. Select suitable ac¢ounting policies and then apply them consistently. Ob5erYe the Tllethods atsd prin¢ipl¢s in the Charities SORP. Make jud8emellts and e5tillMte5 that are reasonable and prudellt. Stste wh¢ther appli¢able UK Accounting standards haye been followed, subject to any material departures disclosed and explained in the financial statern¢nts. Prepare the fmancial statements on the going COTJ¢ern basis unless it 1$ inappropriate to presume that the charity will ¢olltinlle in business The Tntte$ are responsibl¢ for keeping proper accounting Tecords that disclose with reasonable accuracy at any tin)e the fillancial position of tbe charity. They are also re4)oJsibl¢ for safeguardiag the ass¢t$ of the chartty at beoc¢ for takillg reasonable Steps for the prevetttion and detection of fraud alld other irregularities. Jn so far as w¢ ar¢ aw8r¢, ther¢ is relevant audit information of which the charity's auditor is unaware, the Ttustees h&ve taken all steps that they ought to have tskeD to tnake themselv aware of ally r¢l¢vant audit InforntIon and hav¢ taken steps to establish thY4t the auditor is aware of that infomvation. Approved by th¢ Trust¢es on 26 April 2021 and signed as authorised on their behalf by.. Peter Turvty Trustee
REPORT OF THE DEPENDENT AUDITORS TO THE TRUSTEES OF ST. JOSEPH'S SPECIALIST TRUST FOR THE YEAR ENDED JI AUGUST 2020 Oplnlo We have audited the financial stst¢ment$ of St Joseph's Spe¢ialist Trnst for th¢ period ended 3 1 August 2020 which Comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows And the related notes. The fu]ancial reptsrting fralnework that has been applied in their prepaTrtion is applicable law and United Kingdom A¢¢ounting Standards including Financial Reporting Standard 102 'Tbe Financial Reporting Standard applicable in the UK and Republic of Ireland, (UTJited Kingdom Generally Accepted Accountin8 Practice). In ow opinion the fin8n¢ial statements: give a true alld fatr view of the state of the c]Mrity's affairs as at 31 August 2020 and of the charity's llet rnovement in fids, including its kncome and expenditure, for the period tben ended.. and have been properly prepared in 8¢¢ordan¢e with Unit¢d Kin&dom Gen¢rally A¢c¢pted A¢counting Practice,. and haye been prepared in accordance witb the requirements of the Charitie5 Act 2011. Ba$ls for Opllllo We have beell appointed as auditor und¢r s¢¢tiot) 144 of the Charities A¢t 2011 and report in accordance with the Act and relevant regulations made or havillg effect therellder. We couducted our audit in accordaTLce with IDterllational Standard5 on Auditing (UK) (ISAS (UK)) and applÉcable law. Our responsibilities under those standards are fi]rtber described in the Auditor's respoLsibilities for the audit of the finan¢ial stat¢m¢nts $tion of our r¢port. We ar¢ ijJd¢pend¢nt of the School in ac¢oTdan¢¢ witb the ethical requirements that are rel¢v2nt to our alldit of th¢ fman¢ial statem¢nt$ in th¢ Unit¢d Kingdo in¢luding th¢ Financial Reporting Council's Ethical sdar4 aDd we bav¢ fvlfilled our other ethical responsibilities in accordance with these requirements. We believe tbat the audit evidence we have obtained 15 sufficient and appropriate to provide a basL5 for our opinion. CoDcIusioDS relatiD¥ to Golttg Colltern We have nothing to report in re5PeCt of the following mattcrs in relation to which the ISAS (UK) require us to report to you where.. the Trustees, use of the going concem basis of ac¢ounttng in the preparation of the finoncial ststements is not appropriate,. or the Tn]stees have not disclosed in the financial statement5 any identified material uncertainties that tnay cast Significant doubt about the School's ability to ¢ontinlle to adopt the going con¢ern ba$1$ of a¢¢ounting for a period of at least tw¢lv¢ months from the date when the financial $tatem¢nts ar¢ authorised for issue. Other Informatffio The Trustees ar¢ responsible for the other infomwtion. The other infomution ¢ompris¢$ the inforn)ation included in th¢ Annual Report, other than the finallcial statements and our AuditOTS' Report tbereon. Ouropilliots ontb¢ fillancial statements does not Cover the information alld. excq)t to the extent otherwise explicitly stated ID OUT report. we do not express any forni of assuFan¢¢ ¢ollclusion th¢reon. ID conectiOn with Our audit of th¢ financial slalemenis. our responsibility is to read the oiher infornmlion and. in doing so, cot)sid¢r whether the other infonnation is materially incoThsistent with the financial 5tateTnents or our knowledge obtaiTLed in the audit or otherwise appcars to be materially misstated. If we identify such terial incoDS15tencies or apparent n]aterial mi5Statements. we are required to deterniine whether there is a niaterial misstatement in the flnancial statemcnls or a matcrial misstatement of the other inforniation. If. based on the work we hav¢ perfomed. we Conclude that ihere is a marerial misstatement of this other inforn)atio we are required to report that fact. We have nothing to report in this regard.
REPORT OF THE DEPENDENT AUDITORS TO THE TRUSTEES OF ST. JOSEPH'S SPECIALIST TRUST FOR THE YEAR ENDED 31 AUGUST 2020 Matters wblch we are requlred to report by eieeptlon We hav¢ nothing to report in respect of the following matters in relation to whi¢h the Charities (Accounts and R¢ports} Re8ulatioDs 2008 require u5 to report to you if, in our opinioll.. adequat¢ a¢¢owJting r¢¢or(ts hav¢ not b¢en kept by the ¢harity- or sufficient accounting records have lltst been kepL or the charity fjnaneial statements are not in agreernellt witb the accountin8 records and returns- or we have not received all thc Inf0rllOll and explallatstsns we require foi our audit. Resptsllsibiiitles of Trusteeg As ¢Kplained more fuily in the TnL$t¢es' R¢sponsibiliti¢s Stat¢m¢nt, the Trustees are responsibl¢ for the pr¢par2tion of the financial 5tatetn¢nt5 aTLd for being s*tisfied that they give a true and fair View, and for such internal control as the Tnte¢S d¢termine i$ necessary lo etmble the preparation of f]nancial $tateTnents that are free frtsm material misstatemenL whether due to fraud or ettor. Jn preparing th¢ fJt)ancial stat¢m¢nts, th¢ Trust¢e$ ar¢ respon$ibl¢ for assessing the Trust's ability to contirlue as a goin8 concern, dis¢losing. as applicable, ]llatters r¢13ted to going con¢em and u$in8 th¢ going ¢on¢¢rn basis of a¢¢ounting unl¢$s the direetor$ either intend to liquidate the Trust or to Ce operations. or have llo realisti¢ alternatiY¢ but to do so. Audltors, responslblllties for tbe audlt of the Fln4Dclo] Statements Our objectives are io obtain reasonable assurance about whether the financial ststements os a whole are free from mat¢rial niis5tatement, whethcr due to fraud or error. and to issue Auditors, Report that includes tsur opitiion. Reasonable assurance is a high level of assuraDce. but is not a guarantee that all audit Conduct in accordance with ISAS IUK) will always detect a material misstatem¢nt when it exists. Misstatements can arise from fraud or crror and are considered rnaterial if, individually or the aggregate, they could reasonably be expected to influence the economic de¢i$ions of users taken on the basis of these fncIal StateentS. A further description of our reSPODSLbilities for the audit of the flnancial statements is located on the FiDancial Reporting Couucil's website at.. www.fr¢.org.uklauditorsresponsibilities. The d¢s¢ription fornky part of our Auditors, R¢port. of our Report This report is made solely to the ¢iwity's trnste¢s, as a body, in a¢¢ordan¢e with %¢tion 144 of th¢ Charit2es Act 2011 and regulatiorts made under sectioll 154 of that A¢t. Our audit work has been undertak¢n w that we might state to the charity's trustees those matters we are required to state to them ill an Auditovs report and for no otherputpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body for our audkt work. for thi5 report. or for the opinions w¢ hav¢ fornied. l-•i LLe Haysmaeilltyre LLP, St4tutory Audltors 10 Queen Street Place London EC4R IAG Date: 20 May 2021 10
ST. JOSEPH'S SPECIALIST TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 2020 2020 2020 2020 2019 Note Childmi & Young Pcople Restricted Children & Adult Youn8 Supported People Living Unrestricted Unrestricted Total Total tNCOME Charitable activities Fees Sundry income Voluntary income Grants to m¢¢t expenditure Dtsoations Other tradillg activities Rental income 7.796.575 53.153 1,071.380 8,867,955 53,153 9,164,956 800 768,875 768,875 60,255 736.899 60.255 116,836 116,836 111,445 Tot*1 Income 60,255 8,618,603 1,188,216 9,867,074 10,014,100 EXPENDITURE Rai51Dg funds Charitable activities (36,775) (36,775) (33,373) (8,742,1)06) {1,142,5281 {9,884,534) (9,908,602) Total expenditure (8,778,781) (1,142,528) (9,921,309) {9.941,975) Net Inc•me before donatioD from RC Diotese of Arundel & BrightOD 60.255 {160,178) 45,688 {54,235) 72,125 Voluntary in¢ome - Diocxsa donation 17,806.653 Net rnovement in fuDds 60,255 (160,178} 45,688 (54,235) 17,878,778 Fund balances brought forward at I Sq)tetnb¢r 2019 17.017.730 861.048 17.878.778 Fund balancu carrled forward At 31 August 2020 60,255 16,857.552 906,736 17124,543 17.878,778 There were no recognised gains and loss¢s other than those in¢lud¢d in the Statement of Financial A¢tivities. The accompanying notes fortn part of these fiwdncial statelnents.
ST. JOSEPH'S SPECIALIST TRUST BALANCE SHEET AS AT 31 AUGUST 2020 20211 2019 Notes FIXED ASSETS Tan8ible fixed asset5 15,222,314 15,489.640 CURRENT ASSETS Debtors Cash at bat)k and in hand 2,143,253 1,447,259 1,387,637 ,738,964 3.590.512 3.126,601 CREDITORS: amounts falling due itbin one year (988,283) (737,463) NET CURRENT A&SETS 2.602229 2.389.138 TOTAL ASSETS LESS CURRENT LIABILITIES 17.824,543 17,878,778 I¥ET ASSETS 17,824,543 17,878,778 FUNDS CbiltheD & Young People Adult Supported Living 16.857.552 906,736 17,017.730 861,048 Unrutrl£t¢d fuDd$ Re5trieted funds- Children & Young People 17,764,288 60,255 TOTAL FUNDS 17,824,543 17,878,778 The financial statements were approved and authorised for issue by the Trustees on 26 April 2021 and were sied below on its behalf b Pet TuThey Trustee The a¢companying notes form part of th¢s¢ fiDan¢Éal stat¢m¢nts. 12
ST. JOSEPH'S SPECIALIST TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Notes Net cash provlded by operation$ (143,671) (144,114) Cash flows from Investlng Aetlvltles Purchase of [ed assets (148,034) Net ¢a$h {us¢d In) IDVe$tlDg actlvltles (291,705) Change in ca5b and cash equivaleDts ID tbe Trporting period (291,705) (144,114) Net eash and cash equivalents at the beginnin8 of period Net eash and cash equivalents donated by the RC Diocese of Anmd¢l & Brighton ¢)tt in¢ooration 1,738.964 1.883,078 Net ind cash equlvaleDts at end of perlod 1,447359 1.738.964 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH PROVIDED BY OPERATIONS 2020 2019 Net movemet in fullds Depreciation Decreasel(Increast) in debtors IDecreasellincrea5e in CrltorS Gift from the Diocese (54,235) 415,360 (755,616} 250,820 17,878,778 415,360 1746,685) 115.086 {17.806,653) Net casb provlded by operitloDS (143.671) (144,114) ANALYSIS OF CILINGES IN CASH AND CASH EQUIVALENTS DollatioD from Diocese gt 111-Sep-2019 Caslk Flows Other CbaDg At 31-Aug-2020 Cash and cash eguivalents 1.738.964 (291.705) l.447.259 Net eAsh provided by operY4tloll5 1,73&964 (291,705) 1,447,259 13
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 20211 AccouKfING POLICIES B#511 of preparatio The finan¢ial statements have beetj prepared in a¢cordan¢e with the Financial Reporting Stalldard applicable in the UK and Repub]ic of Ireland (FRS102). and tbe Statement of Recon]meuded Practice applicable to charities prepaTitL8 tbeir accounts in aecordance with the Finallcial Reporting Standard applicable in the UK aod Republic of Ireland (FRS 1021- effective l January 2015. The Trust is a ¢haritabl¢ in¢orporat¢d organisalion (charity number.. 1177680) regist¢r¢d in Etjgland and Wales. The fi]wi¢ial statements have been prepared under the historical cost convention. Golng Con¢¢rn Havin8 reviewed the funding facilities available to the Trust tO8etber with the expected on80ing demand forplaces and the TnLSt's filture projected cash flow5, the Tru8tees have a Te&8onable exp¢ctation that the Tnjst has adequate resources to continue its activities for the foreseeable fvture and consider that there were llo material uncertainties over the Tnt'S [ancIAl viability. Wben making this assessmentthe Trustees bav¢ considered the implieation5 of the coutinuing COVID- 19 paDdemic OD the finallcial and operational plans of the Trust and have concluded that there is no eurrent likelthood of arly material impact. Crltltal atcounting JlldEemellts #nd key sourte$ of estlm*tlon ulltertalDty In the appli¢ation of the accounting policies. Trustees are required to rnake jLgerneDt. estimates. alld assumptioDS about the carrying Yalue of as5cts and liabilitie5 that are not readily apparent from other sources. The estirnates alld underlying assurnptions are based on historical experience and other factors that are cot)sider¢d to be r¢l¢vant. A¢tual r¢sults may differ frorn thes¢ estimat¢$. The estiinates and underlyiog assurnptioll5 are reviewed oll all ongoing basis. Revisions to accountin8 estimates are reco]iSed in the period in which the estimate 15 revised if the revision affects only that peri¢)d, or in tbe period of the r¢vi$ion and future periods if the r¢visioD affe¢t¢d ¢urrettt and fvtur¢ periods. Judgements made bytbe Tntstees, inth¢ applicatiollofthese a¢countillE policies tht4t have significant effecton the financial 5tatetneDt5 and estinteS with a Si8Dificant risk of Dterial adju5tinent in the next year are deemed to be in relation to the d¢pTe¢iation rat¢s of tsngible fix¢d assets and ar¢ di5¢uss¢d b¢low. In the view of the Tntstees. no assumplions concerning the fvture or estimation uncertainty aff¢eting assets or liabilities at the balance shcet date are likely to result in a nllterial adjustment to their carrying amounts in the n¢xt fll)an¢iai year. Intome Fee5 receivable and otber fees are accounted for in the period in wbich the service is provided. FundraLSLng and other income is accounted for when entitlement arises, the arnount can be reliably quantified and the economic benefit to the Tnt is considered probable. Expenditure Expenditure is accounted for OD an accrua15 basis and are reco8Di5ed when tILere is a legal or constructive obligation to pay for ¢xpenditure. All costs have beett athibuted to the fvtt¢tiotsal categories of resourGe5 expended in the StaterneDt of Financial Activities. Thc Trust 15 tiot r¢gisteied for VAT and accordingly expellditure 15 included 8r05s of irrecoverable VAT. Cash at bank and Cash in hand includes cash and short terrn highly liquid investments. 14
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 ACCOUNTING POLICIES (conttnued) Tanglble fixed assets Tallgkble assets, except the freebold property, are stated at cost less depreciation. Depre¢iation is provided on all tsn8ibl¢ fixed ass¢ts other than freehold land, at r*tes calculated to write off th¢ c05t Icss tljeir imated residual value of each osset over its expected usefv] life, as follows: l£asehold buildin8- 20/0 to 2/ts on cost Individual it¢ms costing less that) £5,(H)O ar¢ norn)ally written off as an expense on a¢quisition. Freehold land is not depreciated. Computer and IT costs are expensed through the Illcome and Expenditurc account. Fin&ntiAI instruments Basic fancial instruments are initially recogllised at traDSaetion value and 5ubseqllently me4sur¢d at amortised with the ¢x¢¢ption of investments which are held at fair valu¢. Finan¢tal assets held amorti$ed cost ¢omprise cash at bank and in hand, together with trade and other debtors. A specific provision is n)ad¢ for debts forwhich recoverability is in doubt. Cash atbank and in hand is defined as all cash held iti instant access ballk accounts and used as working capital. FiDaDcial liabilities held at a>rtI5¢d cost COmPri5e all cr¢ditor5 except social %curity al other taAe5 alld provisioDs. Debtors Trade and other debtors are recognis¢d at the settlement amount due after any trade discowit offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Credltors and provlslons Creditors and provisions are r¢cognis¢d where th¢ Tnjst has a PTe8¢t)t obligation resulting from a past event that will probably result in the transferof fithds to a third party and the amount due to settle the obligation can be measured or estitnat¢d reliably. Creditor5 and provisioDs are norallY recogDi5ed at their settlement amoullt after allowing for any trade discounts due. Taxatlon The Tntst is constituted as a registered ¢harity. and ther¢for¢ is exempt from direct taxation on its charitable activities. There werc no tax reclaillL% in the year on gifts attd donatioDs received. Provi$iott for m#jor repairs There is an on-going prtsgramme of plAnned repairs. It is considered that work undertakell each year 15 su1CleI to rnaintain all buildings in Iheir existing Condition. Pen$lon$ The Tea¢heis' Pension S¢heme- This scheme is a multitmployer pensiort scheme. It is not possible to identify the TTUSt's share of tbe underlying assets and liabillties of the TeaclLer5' Pen5LOll Scheme on a con51StetJt and reasonable basis arml therefore, as required by FRS102. account5 for the scheme as if it were a defined contribution scheme. The Trllst's colltriblltion5, which are in accordance with the recommendations of the Government Actiiary, ar¢ ¢harg¢d il) th¢ P¢Tiod in which the salaries to whi¢h th¢y relate ar¢ payable. The cbarity a150 operates defilled coDtributOry group personal pension schernes for non-teaching staff. OperatiThg lea$e ¢ommitment$ The renials payable under operaiing leases are charged to the Siatement of Finattcial Activities (SOFA) on a straight lille basis over the lease term. 15
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2020 AccouNfiNG POLICIES {¢oDtlnued) Fthlld #ecountlllg Fund5 held by thc Charity are.. Unrestrictedfunds- these are w.Ch can be used in accordance 7th the charitsble objects at the discretion of the Trustees. Re51r¥cfedfvnds- these are fimds that can onlybe used forparti¢ularr¢stricted purposes within th¢ objects of th¢ Charity and are repTesented by donations in respect of new building works cun11Y in progress. NET INCOME 2020 2019 Net Income Is stated 8fter charging Depreciation of owned tan8ible red a55ets Auditors, iemuner2tion- non audit servi¢¢$ AuditOTS' remun¢rition- audit seryices 415,360 415,360 5,100 21,000 22,400 ANALYSIS OF TOTAL EXPENDITURE 2020 Staff Costs 2020 Other Costs 2020 Depredatlon 2020 Total 2019 Total Raising funds 31,260 5,515 36,775 33,372 Ch9rltable &¢tlYlties Teaching Welfar¢ PTemises Support C05ts Grants 3.857,948 3,229,158 498,280 751.762 34,186 101,070 115,153 518,007 363.610 3.959,018 3,344,311 1,431,647 1.115,372 34,186 4,119,661 3,340,547 1.419,134 964.646 64,615 415,360 8,402,594 1,103,355 415,360 9,921.309 9.941,975 Th¢r¢ was no r¢strict¢d expenditllre in th¢ p¢riod (2019.. £nill. 16
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS (¢ontlnu¢d) FOR THE YEAR ENDED 31 AUGUST 2020 PARTICULARS OF EMPLOYEES 2020 N(b. 21119 No. Th¢ average persons employed by the Trust during the p¢riod wa$.. 274 269 Their total remuneration wav.. Wag¢$ and sal&Tie$ Social secwity costs Other peDsioll costs Other staff costs 6.843,042 599,550 548,361 65.771 6,365,078 638,283 631,635 108.367 8,OS6,724 345,870 7,743,363 710,960 Ag¢ncy stafr 8.402.594 8.454,323 The number of staff with ernoluments within the following ranges were". 2020 No. 2019 £70,001- £80,000 £80.001- £90,000 £90,001- £100.000 The total remuneration of key management persotjnel during the period was £1,008,356 {2019'. £770,065). The Trust made defined benefit nSIOn contributions of £83,394 (2019.. £55,808) in the period in respect of the higher paid enhployees. There weTe terminatioll payments mAde in the year of £30,982 {2019.' £nil). TRUSTEES AND ADVISERS REMUNERTION AND REIMBURSED EXPENSES Trte¢S do not receive rellnmerY4tion from the Charity. No Trustee had any beneficial interest in ally Contract with the Company during tbe year. Three Trle¢S were reimbursed expenses of £459.00 (2019.. £172) in the period. 17
ST. JOSEPH>S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS {contiDued) FOR THE YEAR ENDED 31 AUGUST 2010 TANGIBLE FIXED ASSETS Leasehold pretnl$es The preiseS weTe acquired from the Tmstees of Sa¢red Heart Sisters of Chigwell Convent on I Sq)leTnber 1981 at a cost of £425.000 plus fiwtsiture and fittings £50,000 (part was sold its 1988 for £69,453). lrt additioll, a house. Springvale. was purchased from the Sisters in Septeulber 1986 at * ¢05t of £155.000. Tb¢ use of the propertie5 whicb are Still OWDed by thc RC Diocese of Arundel & Bri8hton. has been 8ifted throu8b & 999 year lease with only peppercorn rent payable. School Leas¢bold PreiSeS SprlDgvale preJDi5e8 Total Cost Beginnin8 of period Additions 15,153.(M)O 148,034 752,000 15,905,000 148,034 End of year 15,301,034 752,000 16,053,034 Depr¢¢latlon B¢ginning of period Charge for the period 400,320 400,320 15,1)40 15,040 415,360 415,360 End of year 800.640 30.080 830,720 Net Book V*lue As at 31 August 2020 14,500,394 721,920 15,222,314 As at 31 August 2019 14,752,680 736,960 15,489,640 DEBTORS 2020 2019 Fee debtors Other debtors 1,952,810 190,443 1,375,709 11,928 2.143.253 1.387.637 CREDITORS: amounts fAlling due one ye8T 2020 2019 Trad¢ creditors Ac¢nMIs Staff costs provision Payroll creditors Other ¢r¢ditors 229,407 92,585 253.070 69.007 344,214 1,422 146,483 217.500 178.073 193,985 988,283 737,463 18
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMEPUS (contlnued) FOR THE YEAR ENDED 31 AUGUST 2020 STATEMENT OF FUNDS- CURRENT PERIOD Brought fonv8rd at I September 2019 Carried forw&rd at 31 August 2020 Income 2020 Expendlture 2020 Children and Young People Adult Supported Living 17.017.730 861.048 8.618.603 1,188,216 (8,778.781) (1,142,528) 16.857,552 906,736 Unrestricted fimds Restricted fimds 17,878,778 9,806,819 60,255 (9,921,309) 17.764288 60,255 Total funds 17,878.778 9,867,074 (9,921.309) 17.824,543 ANALYSIS OF NET ASSETS BETWEEN Fuf4DS- CURRENT TERIOD Unrestricted funds 2020 Restricted fuDd5 2020 Total 2020 21119 Tangible Fixed Assets 15,222.314 15.222,314 15,489,640 Cutrent a55ets 3.530.257 60.255 3,590,512 3.126,601 Cutrent liabilitie5 (988283) (988,283) (737,463) Non-CUTreTht liabilities 17,764,288 60255 17,824.543 17,878,778 10. FINANCIAL INSTRUMENTS 2020 2019 Finan¢ial assets that are debt instrument8 measured at arnortised c05t 2,143,253 1,387,637 Financial ]iabilitte5 rneasured at an]0rt15¢d cost 988.283 737,463 Financial assets include fee and other debtors. Financial liabilities include trade creditors, paiToII creditors and provisions for stsff and overhead eosts.
ST. JOSEPH'S SPECIALIST TRUST NOTES TO THE FINANCIAL STATEMENTS {contluued) FOR THE YEAR ENDED 31 AUGUST 2020 11. PENSION COSTS {8) Teacbers, Penslon Sclleme The Trust participate5 in the Tebers, Pension Scheme ("the TPS") for its t¢a¢biDg staff. The pension charge for the yeor includes contributiODS payable to the TPS of £270,361 (2019.. £208,719) and at the year-¢nd £tsil (2019.. £llil) was a¢¢rued in re$p¢ct of ¢ontributions to thi$ s¢heme. The TPS is an unfimded multK-employeT defilled benefit5 pensioll scheme governed by The Teach¢rs' P¢nsiotts RegulatioJJ$ 2010 las amended) and The Tea¢hers' PeDsion Scheme Regulation5 2014 (as amended). Members ¢onthbuie on a"p#y as you go" basis with contribution5 from members and the employer being credited to the Exchequer. Retirelnent aTLd other pension benefjts are paid by public fill)ds provided by Parltament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Govemment Actuary's DepartmenL The most recellt actuarial valuation of th¢ TPS was prepared as al 31 Mar¢h 2016 attd the Valuation RepotL which was publish¢d in March 2019, confimied that the employer Contribution rate for the TPS would increase froln 16.40/ to 23.6/• from I Septemb¢r 2019. Employers are also required to pay a scheme adrninL5tration levy of 0.08/0 giviTJg a tolal employer contribution rate of 23.68/. The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out inthe 5cb¢mc regulatioD5 and undertbe Y4pproachspecified ID the DireetlODS, as theyapplied at5 March 2019. However. the assumptiODS were CODsidered and set by the Department for Edu¢ation priorto the ruling in th¢ 'M¢CloudlSargeant ¢ase'. This ¢ase has required the ¢ourts to ¢onsider ¢ases regarding the implementation of the 2015 reforn]s to Pub]i¢ Service Pellsiotss including the Te8chers' Pensions. On 27 June 2019 the Supretne Court denied the 8overnmeDt perIni5sion to appeal the Court of Appeal's judgment that transitiotsal PTOViSiOnS introduced to the refornied pension 5cbernes in 2015 8ave rise to un]awful agc di5CriTnination. The government 15 respectin8 the Court's decision and has said it 1][ ¢ngag¢ fully th¢ Emplonent Tribunal a5 well a5 employer and member representatives to agr¢¢ how the dis¢riminations will be r¢m¢dted. A Consultation was launched by the government on 16 July 2020, and closed to respottses I l October 2020. The TPS is subject to a Cost cap mechanism which was put in place to protect taxpayers against unforeseen cban8¢s in scheme costs. The alief Secretaryto theTreasury, hallg ilt 2018 annouDced thatthere would be areview ofthis cost cap mechanisrffj ID Jathuary 2019 atLTLounced a pause to the cost cap mechanism followin8 the Court of Appeal's ruling in the McCloud/Sargeant case and until there is certainty about tbe value of pensions to ¢mploye¢s from April 2015 onwards. The pause was lifted in July 2020 and th¢ government ispr¢p8ringto complete the costcontrol element ofthe 2016 valuation5. whlch isexpected tobecoTnpleted in 2021. Ill vi¢w of tbe above tulings and deci5ion5 the as5umptioDS Used in the 31 March 2016 Actuarial Valuation Duy bccornc illappropriate. Ill tbi5 seenaTiO, a valuation prepared in accordance with revi$¢d benefits 2nd Suitably r¢vised assumptiODS would yield different results than those contained in th¢ Actuarial Valuation. Until tbe consultation and the ¢os¢ ¢ap rn¢¢hanismr¢view ar¢¢ompletedit 1$ notpossible to conclude on any financial IpaCtOr tre(hangeSt0 ibe¢tsnttibutioD rates of the TPS. Accordingly, no provision for any additional p85t benefit pension costs is included in these f]nancial statetnents. b) Group Per$on#l Pensio The Trust parti¢ipat¢s in a defined ntributIon schemes for its teaching and DOD-teaching stsff who are not in a final salary scheme. The cost for the year of the Trust's contributions was £220.851 (2019.. £185,552). 12. FINANCLKL Co[mITMENTs Ai 31 August 2020 there re capit41 cotyllJ]itments of £nil (2019.. £nil). 13. OPERATING LEASE COMMITMENTS At 31 August 2020 there weie operating lease cotnmittnents of £nil (2019.. £DiI). 14. CONTINGENT LIABILITY The Trust were notified by the Teachers, Pension Scheme 2019 that th¢y w¢r¢ to ¢halleDge the eligibility of two members of Staff from the inception date of th¢ scheme in 2010. This was a¢¢epi¢d for the one Tnember who has 51ric¢ T¢tired and a provision for a liability based on an independent valuation was included in the aceounts for the period to 31st August 2019. The decision by the TPS for the other member of staff who remain5 Ill employment is currently under appeal. The Trustees are confident that the matter with reference to this member of staff wÈll be satisfactorily resolved, discussions are ongoing and at the date of the approv81 of these financial statements no resolution had been achieved. On tb¢ basis of professional advice received the Trustees do not believe there 15 a probable chance of a liability crystallising to the Tn]st and as such no provision bas b¢en made in the accounts in tbis regard. 20