Dimensions Cymru Limited
(A Charitable Company Limited by Guarantee)
Report and Financial Statements
for the year ended
31 March 2023
Better Lives For More People| Bywydau gwell I fwy obobl
Company Registration Number: 12531369 Charity Registration Number: 1191485
Dimensions Cymru Limited Contents
| Pages | |
|---|---|
| Advisors and Other Information | 3 |
| Trustees’ Report | 4 |
| Independent Auditor’s Report to the Members of Dimensions Cymru | 9 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Notes to the Financial Statements | 15-23 |
2 Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Trustees’ Report
Trustees Nick Baldwin CBE - Chair Wayne (Russ) Kennedy Supriya (Sherry) Malik Rhoda Iranloye Sinéad McHugh-Hicks Company Secretary Joanne Greenbank Executive Directors Rachael Dodgson Group Chief Executive Officer Ian Goodacre Group Chief Financial Officer Stella Cheetham Group Director of People and Organisational Development Chris Woodhead Group Director of Housing, Marketing and Business Development Sinéad McHugh-Hicks Managing Director Rhoda Iranloye Group Director of Quality, Governance & Lived Experience Pippa Foster Group Director of Customer Experience (redundant April 2023) Benedict Sutton Group Chief Digital & Information Officer Bankers National Westminster HSBC UK Bank Plc Bank Plc Level 7, Thames Tower Unit L11 The Oracle Station Road Shopping Centre Reading Reading RG1 1LX RG1 2AG Solicitors Trowers & Hamlins Anthony Collins Solicitors 3 Bunhill Row 134 Edmund Street London Birmingham EC1Y EYZ B3 2ES DAC Beachcroft 25 Walbrook London EC4N 8AF External Auditor Crowe LLP 2nd Floor, 55 Ludgate Hill London EC4M 7JW Principal and The Beacon Centre Registered Office Harrison Drive St Mellons, Cardiff CF3 0PJ
3
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Trustees’ Report
The Trustees present their report and the audited financial statements for the year ended 31 March 2023.
Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounting and Reporting by Charities.
These financial statements have been prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102). These financial statements have been prepared on a historical cost basis and are presented in Sterling (£).
Structure, Governance and Management
Dimensions Cymru Limited was established in March 2020 and started trading in April 2020. It is a member of the Dimensions Group and recognises Dimensions (UK) Limited as the Parent. Dimensions Cymru Limited is a Registered Charity.
The principal activity and objective of the Charity is the provision of personalised support with housing.
Dimensions Cymru provides a wide range of services for adults with learning disabilities and autistic people, including those with complex needs or behaviours of distress. The Charity enables people to be part of their community and to make their own choices and decisions about their own lives.
The Board and its Role
The governing body of Dimensions Cymru is the Board of Trustees. Trustees are company directors of the Charity under the Companies Act 2006, as well as being charity Trustees. Trustees are not paid for their role. The Trustees have overall responsibility for the strategy, administration, and control of the activities of the Charity. The Trustees who served during the year are listed on page 3.
The full Board met three times during the year and followed an agreed agenda with various standing matters, including full reporting of management accounts, review of the risk register, and business performance.
The Trustees do not seek to become involved in operational matters but to set strategic objectives in line with recommendations by the Executive Team. The Trustees have access, at the expense of the Charity, to any professional services they may reasonably require to fulfil their statutory duties.
Training for Trustees
Board members are able to attend appropriate training at the expense of the organisation to help them fulfil their Board role most effectively. This includes Safeguarding Adults, GDPR and Health & Safety. Members Briefings have been arranged on an ad-hoc basis on key topics, including recruitment challenges and activity and the IT systems used within the Group. During the Group external Governance Review, which took place in 2022, the effectiveness surveys and Non-Executive appraisal there is the opportunity for Members to identify any learning and development needs either for individuals or Committees as a collective.
4
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Trustees’ Report
Risk Management
The Trustees discuss and assess the risk to which the Charity is exposed. There are clearly defined management responsibilities for the identification, evaluation, and control of significant risks in line with the Group approach, with continuous risk assessment and active management of business risks, including the maintenance of a strategic risk map, which identifies the controls and assurances in place, and highlights any gaps requiring further action. The Trustees discuss this at each meeting.
Employee Involvement
All colleagues receive regular one-to-one supervision meetings and annual appraisals with their line manager. There are also regular team meetings, locality management meetings and senior team meetings.
The Charity has a colleague forum and a health and safety forum that include representatives from each locality. Colleagues views are gathered and collated through these various media and contribute to service improvement plans to ensure that the teams are constantly moving forward. These plans, in turn, contribute to the Charity’s business plan.
Modern Slavery and Human Trafficking Statement
Dimensions Cymru is committed to preventing modern slavery in its corporate activities and supply chains. The Group’s full statement can be found on the Dimensions website at www.dimensions-uk.org.
Relationships with Other Organisations
Dimensions Cymru seeks to work in partnership with other organisations whenever such partnerships enable additional services to be provided.
Objectives and Activities
The Charity aligns with the Dimension’s Group vision of better lives for more people. Its mission is to provide high quality personalised support for people with learning disabilities and autistic people, helping them to be actively engaged with, and contribute to, their communities.
The Charity’s values are:
| Charity’s values are: | |
|---|---|
| Ambition | seeking to help people reach their potential |
| Respect | showing people respect and recognising that their unique contributionadds value to all |
| Courage | being guided by the courage of our convictions to make a difference |
| Integrity | ensuringthat what we do isgrounded in what we believe |
| Partnership | working with others to achieve more for people |
Dimensions Cymru aligns with the Group’s vision, mission and strategic aims which continue to reflect its commitment to provide excellent personalised support for people and to provide a framework for its continuing diversification and development.
5
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Trustees’ Report
Financial Review
The net movement in funds for the year ended 31 March 2023 was a surplus of £232k (2022: £219k)
Strategic Risks
The following risks represent those observed as significant by the Trustees, summarised as follows:
Workforce – whilst the challenge of recruitment was eased by the pandemic due to increased unemployment, the resurgence of the hospitality and retail industries (recruitment competitors for Dimensions), twinned with changes prompted by Brexit, have made recruitment more difficult again.
Dimensions has seen agency usage increase and retention fall, placing renewed pressure upon the Charity to reduce the cost of overheads and make good decisions about the locations in which it attempts to create new homes. In addition, the increasing National Living Wage has put pressure on our ability to compete for workforce in a candidate led market. Another important focus is workforce engagement. Dimensions invests in the training, development and wellbeing of colleagues to ensure that the right resources are available to support them. Careful management is required to achieve a structure that can best deliver the high- quality services that every customer needs. We utilise many opportunities to listen to our colleagues and are committed to act on their feedback, a strategy which has resulted in our accreditation as a Great Place to Work for five years in a row.
Reduced public spending – the sector that the organisation operates in continues to undergo significant and radical change and it is clear that public services in the UK will remain under intense financial pressure for many years. Covid-19 has masked the longer-term impact of Brexit at this time and the full effect of the virus is still unknown. Dimensions has responded to the financial pressures through continuing to seek efficiencies and improve productivity, which has enabled it to proportionately reduce its overhead and operational costs whilst protecting the support that it provides to people. The organisation also manages liquidity risk via a revolving credit facility.
Regulation and Quality – the expectations of Dimensions’ customers and stakeholders regarding service quality are increasing, furthermore regulatory frameworks are continuing to evolve. In particular, the organisation’s main regulators, the Care Quality Commission (CQC), Homes England/The Regulator of Social Housing, the Charity Commission and Care Inspectorate Wales (CIW) have higher expectations of leadership and governance. We continue to keep Quality at the heart of everything that we do, ensuring that we maintain and embed best practice that is in line with our values and the requirements of our regulators. We ensure that actions to mitigate against adverse events are implemented, monitored and lessons are learned.
Sustainability and Business Systems – We maintain an ongoing focus to ensure the Charity stays sustainable in a fast-moving environment of improved technology, business systems and cyber risks. We are investing in improving the Charity’s enterprise and information systems to ensure we have the right architecture to support the organisation’s performance with better data, better reporting, and better integration. The Charity has developed plans to mitigate these risks.
6
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Trustees’ Report Going Concern
The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.
The Trustees have approved a budget for 2023/24, which is incorporated into the Group’s budget and cashflows, which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds through its parent company, Dimensions (UK), to meet its liabilities as they fall due for that period.
Those forecasts are dependent on Dimensions (UK) providing financial support during that period. Dimensions (UK) has indicated its intention to continue to make available such funds as are needed by the charitable company for the period covered by the forecasts. As with any company placing reliance on other group entities for financial support, the Trustees acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the Trustees are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
Statement of Trustees’ Responsibilities in Respect of the Trustees’ Annual Report and the Financial Statements
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland .
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
-
assess the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
-
use the going concern basis of accounting unless they either intend to liquidate the charitable company or to cease operations or have no realistic alternative but to do so.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is
Annual Report and Financial Statements for the year ended 31 March 2023
7
Dimensions Cymru Limited
Trustees’ Report
necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Provision of Information to Auditor
In the case of each person who was a trustee at the time this report was approved, so far as that trustee was aware, there was no relevant available information of which the auditors were unaware; and that trustee had taken all steps that the trustee ought to have taken as a trustee to make himself or herself aware of any relevant audit information and to establish that the auditors were aware of that information. This confirmation is given and should be interpreted in accordance with the provision of s418 of the Companies Act 2006.
Auditor
A resolution to re-appoint Crowe LLP will be confirmed by the Board after the Group’s next Annual General Meeting.
Approved by the Board of Trustees and signed on its behalf by:
Nick Baldwin CBE
(Chair, Dimensions Cymru Board of Trustees)
27 July 2023
8
Annual Report and Financial Statements for the year ended 31 March 2023
Crowe LLP
Independent Auditor’s Report to the Members of Dimensions Cymru Limited
Opinion
We have audited the financial statements of Dimensions Cymru Limited for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the approval of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Annual Report and Financial Statements for the year ended 31 March 2023
9
Crowe LLP
Independent Auditor’s Report to the Members of Dimensions Cymru Limited
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to 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 our audit
-
the information given in the Trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the directors’ report included within the Trustees’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate and proper accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of Trustees’ remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Trustees’ directors’ report and from the requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the Trustees’ responsibilities statement set out on page 11, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Annual Report and Financial Statements for the year ended 31 March 2023
10
Independent Auditor’s Report to the Members of Dimensions Cymru Limited
Crowe LLP
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were Care Quality standards, General Data Protection Regulation (GDPR), Health and safety legislation, and Employment legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit, legal counsel and the Group, Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals and revenue, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Care Inspectorate Wales (CIW) and reading minutes of meetings of those charged with governance.
Annual Report and Financial Statements for the year ended 31 March 2023
11
Crowe LLP
Independent Auditor’s Report to the Members of Dimensions Cymru Limited
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
………………………
Julia Poulter Senior Statut o ry Auditor For and on behalf of Crowe U.K. LLP
Statutory Auditor London
13 September 2023
12
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Statement of Financial Activities for the year ended 31 March 2023
| Note Income Donation and legacies 2 Fees for support services 3 Expenditure Provision of person-centred support 4 Surplus for the year Reconciliation of funds: Fund balances as at 1 April Fund balances at 31 March 5 |
Unrestricted Funds 2023 £’000 - 11,154 11,154 10,842 312 603 |
Unrestricted Funds 2023 £’000 - 11,154 11,154 10,842 312 603 |
Total Funds 2023 £’000 - 11,154 11,154 10,842 312 603 |
Total Funds 2022 £’000 33 8,922 8,955 8,736 219 384 603 |
|---|---|---|---|---|
| 915 | 915 |
The figures above relate to continuing activities.
The accompanying notes on pages 15 to 23 form part of these financial statements.
13
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Company Registration Number: 12531369 Charity Registration Number: 1191485 Balance Sheet As At 31 March 2023
| Note Current assets Debtors 8 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Provisions for liabilities Total net assets The funds of the charity Unrestricted income funds 10 Total charity funds |
2023 £’000 883 32 915 - 915 915 - - 915 |
2022 £’000 569 34 603 - 603 603 - - 603 |
|
|---|---|---|---|
| 915 915 |
603 603 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime under the Companies Act 2006 and FRS 102.
The accompanying notes on pages 15 to 23 form part of these financial statements. The financial statements were approved by the Trustees and authorised for issue on 27 July 2023 and signed on their behalf by:
…………………………. ………………………….
Nick Baldwin CBE Joanne Greenbank Chair Company Secretary
Annual Report and Financial Statements for the year ended 31 March 2023
14
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.
The Trustees have approved a budget for 2023/24, which is incorporated into the Group’s budget and cashflows, which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds through its parent company, Dimensions (UK), to meet its liabilities as they fall due for that period.
Those forecasts are dependent on Dimensions (UK) providing additional financial support during that period. Dimensions (UK) has indicated its intention to continue to make available such funds as are needed by the charitable company for the period covered by the forecasts. As with any company placing reliance on other group entities for financial support, the Trustees acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the Trustees are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis. The Charity’s parent has confirmed its intention to continually provide support to the Charity for at least the next twelve months from the date of these financial statements, to meet financial liabilities as they fall due and continue to trade. Dimensions Cymru meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Income recognition
Fees for support services
Fees for support services represent care charges and grants receivable from Local Health Boards and local authorities, under Supporting People contracts, for care and supported living services provided in the year by Dimensions Cymru, including Supporting People grants and charges to residents. Care charges and revenue grants from local authorities are recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income received in advance for the provision of specified services is deferred until the criteria for income recognition are met.
Income from rents and service charges
Rent receivable under a tenancy agreement is recognised on an accruals basis.
15
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
Donations
Donations are recognised when the Charity receives notification that the donation has been pledged. Material legacies receivable at year end are included at their estimated probate value.
Fixed assets and depreciation
In the year ended 31 March 2023, the Charity has no fixed assets. (2022: £ Nil)
Expenditure
All expenditure including support costs, is recognised on an accruals basis. Expenditure includes VAT which cannot be recovered and is reported as part of the expenditure to which the VAT relates.
Expenditure is apportioned on the following basis:
-
a) costs attributable solely to one activity are allocated to that activity.
-
b) costs attributable to more than one activity are apportioned between activities as follows:
-
staff and occupancy costs are apportioned on the basis of estimated person hours spent on each different activity;
-
communication, stationery and printing and computer costs are apportioned based on estimated usage for each activity; and
Governance costs relate to the costs of running the Charity as a statutory body and include audit fees, certain legal and professional fees, and the costs of Trustee meetings. No support costs are allocated to governance costs as any allocation would be immaterial.
Operating leases
Under section 20 of FRS 102, the Charity classifies the lease of properties and vehicles as operating leases; the title to the properties and vehicles remains with the lessor. The property leases are for five years or less, whilst the economic life of such properties is normally sixty years.
Rentals paid under operating leases are charged against income on a straight-line basis over the lease term.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Management assesses recoverability of trade debts and provisions are applied on debts deemed doubtful of recovery in line with the Group’s policy as follows:
| Less than 180 days | 0% |
|---|---|
| 181 days to 360 days | 50% |
| Above 360 days | 100% |
Annual Report and Financial Statements for the year ended 31 March 2023
16
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Restricted funds
Any income received that is restricted as to its use is credited to a restricted fund.
Unrestricted fund s
Unrestricted funds represent those assets, which may be used at the trustees’ discretion for any purpose consistent with the aims of the Charity.
Transfers between funds
Transfers are made between funds as follows:
-
deficits arising on restricted funds from contractual activities are offset by transfers from unrestricted funds;
-
surpluses arising on restricted funds from contractual activities are transferred to unrestricted funds when the relevant contract has been fully completed.
Pension costs
The Charity’s parent operates defined contribution pension schemes on behalf of the Charity’s staff. The costs under these schemes are charged to the income and expenditure account as incurred. Pension contribution for the year is disclosed in note 6.
Reserves Policy
The Trustees are aware that the Charity must balance the need to build sufficient reserves to maintain financial stability with meeting the costs of delivering its charitable objects. The target is to retain reserves equivalent to one month’s expenditure, equating to around £900k which the Trustees believe would tide the Charity over should there be any unexpected interruptions to regular funding.
At 31 March 2023, Dimensions Cymru was meeting its reserves policy with unrestricted income funds of £915k. The Trustees believe that this puts the Charity in a position for the future and that future incoming resources will be sufficient to meet the needs of the Charity in delivering its charitable objects.
As at the 31 March 2023 there were no restricted reserves (2022: £nil) that were not available for the general purposes of the charity.
17
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
Significant judgements and estimates
To prepare the accounts, trustees and management have made judgments and estimates. The most significant are:
-
Income recognition: The charity receives a range of income stream and the approach to accounting for them is covered by income recognition policy above.
-
Provisions and accruals: Provisions such as bad debts and accruals for expenditure require assumptions and estimation techniques. These are based on experience, knowledge of management and evidence of past experience.
-
Cost allocation and recharges: The allocation of support costs requires a judgment as to what the most appropriate cost drivers are to apply.
In the view of the Trustees, no assumptions concerning the future of estimation uncertainty affecting asset and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
Statement of cash flows
Dimensions Cymru has taken advantage of the disclosure exemption granted to small entities under FRS 102 from Section 7: Statement of Cash Flows and accordingly no statement of cash flows has been produced. The cash flow of the Charity is included within the group cash flow in the statutory accounts of its parent, Dimensions UK.
2 Voluntary Income
| Unrestricted funds £’000 Restricted funds £’000 Donations - - Provision of Person-Centred Support Analysis of Income Fees for support services Rent charges Charges for support services (grants) |
Total 2023 £’000 - 2023 £’000 1,285 9,869 11,154 |
Total 2022 £’000 33 2022 £’000 1,023 7,899 8,922 |
|---|---|---|
3 Provision of Person-Centred Support Analysis of Income
Annual Report and Financial Statements for the year ended 31 March 2023
18
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
4 Provision of Person-Centred Support
| Staff costs Occupancy costs Other costs Governance costs Total 5 Net Income for the Year This is stated after charging: Audit of financial statements Operating leases |
2023 £’000 8,168 1,116 1,530 28 10,842 2023 £’000 15 5 |
2022 £’000 6,679 960 1,114 13 |
||
|---|---|---|---|---|
| 8,736 | ||||
| 2022 £’000 1 13 |
19
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
6 Staff
| Average Number of Employees Staff directly providing person- centred support Support services FTE: Full Time Equivalent. Employment costs Wages and salaries Staff Training Social security costs Pension costs |
2023 Number Headcount 342 9 |
2023 Number Headcount 342 9 |
2022 Number Headcount 310 11 ____ 321 |
__ | 2023 Number FTE* 262 8 _ 270 2023 £’000 7,142 134 691 201 __ 8,168** |
_ |
2022 Number FTE* 242 9 __ 251 2022 £’000 5,875 124 528 152 __ 6,679** |
|---|---|---|---|---|---|---|---|
| __ | __ 351 |
__ |
|||||
| _ | _ |
*FTE: Full Time Equivalent.
Remuneration of colleagues (including taxable benefit in kind, excluding employer’s pension contribution) exceeding £60,000 in the year is in the following bands:
| 2023 | 2022 | ||
|---|---|---|---|
| Number | Number | ||
| £70,000 | to £79,999 | 1 | - |
| £60,000 | to £69,999 | 1 | 1 |
Included in wages and salaries costs are redundancy payments totalling £17K (2022: £23k).
All Key Management Personnel are paid by the Parent. Trustees (or any persons connected with them) did not receive any remuneration during the year for their trustee role, and neither were there expenses incurred while serving the board during the year. No charity Trustee received payment for professional or other services supplied to the charity as a Trustee.
Annual Report and Financial Statements for the year ended 31 March 2023
20
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
7 Taxation
Dimensions Cymru is a registered charity and as such is not subject to Corporation Tax on its charitable income and gains.
| 8 | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £’000 | £’000 | ||
| Amounts due from Group Companies | 883 | 569 |
9 Share capital – non equity
The Company, which is incorporated under the Companies Act 2006, is limited by guarantee and as such has no share capital. The liability of each member is limited to £1, being the amount guaranteed.
| 10 Movement in Funds Unrestricted funds Total funds |
At 1 April 2022 Incoming resources Outgoing resources Transfers £’000 £’000 £’000 £’000 603 11,154 10,842 - 603 11,154 10,842 - |
At 31 March 2023 £’000 915 915 |
|---|---|---|
Donations and grants with specific purposes imposed by the donors for their use are held in a restricted fund. The funds of the Charity had none at year end 31 March 2023 (2022: £nil).
21
Annual Report and Financial Statements for the year ended 31 March 2023
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
11 Analysis of Assets by Fund
| Restricted Funds £’000 Unrestricted Funds £’000 Net current assets - 915 Total funds at 31 March 2023 - 915 |
Total £’000 915 915 |
|---|---|
12 Capital Commitments
As at 31 March 2023, the Charity had no capital commitments (2022: Nil)
13 Commitments under operating leases
As at 31 March 2023, the Charity had no operating lease commitments (2022: Nil)
14 Related Parties
Dimensions UK, the parent of the Charity, has apportioned and charged £531k (2022: £431k) of central overhead costs to Cymru during the year. These are apportioned based on the total direct costs of providing social housing and other activities in each entity within the Group. At 31 March 2023 the Charity owed Dimensions UK £nil (2022: £nil) for recharged central overhead costs.
Dimensions Personalised Support Ltd subcontracts its work to other members of the group. Dimensions Cymru charge Dimensions Personalised Support 98% of the contract value for delivering the contract. The charge during the year was £728k (2022: £618k), which is included in the £883k due from the Group at year end 31 March 2023 (2022: £569k).
There are no other related party transactions or outstanding balances during the year (2022: £nil)
Annual Report and Financial Statements for the year ended 31 March 2023
22
Dimensions Cymru Limited Notes to the Financial Statements For the year ended 31 March 2023
15 Controlling Party
Dimensions Cymru’s parent association and controlling party is Dimensions (UK) Limited, a charitable registered society under the Co-operative and Community Benefit Societies Act 2014 registered number 31192R.
The principal purpose and activities of Dimensions (UK) Limited and its subsidiaries is the provision of person-centred support packages, with housing, for people with learning disabilities and autism.
The public can obtain the consolidated accounts of Dimensions (UK) Limited that include the Charity’s accounts via the website www.dimensions-uk.org or by writing to the registered office address 1430 Arlington Business Park, Theale, Reading, RG7 4SA.
16 Off-balance sheet arrangements
Dimensions Cymru, along with the other entities in the Dimensions Group, is party to a £10m Revolving Credit Facility with HSBC plc (which commenced on 7 April 2017 and ends on 7 April 2027), whereby the liabilities to HSBC of each of the entities within the Dimensions Group are cross guaranteed by the others.
23
Annual Report and Financial Statements for the year ended 31 March 2023