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|---|---|---|---|
|Report ofthe|Trustees|and Strategic Report|3-16|
|Statement ofTrustees'||responsibilities
for the Financial Statements|17|
|Independent|Auditors'|report|18-21|
|Consolidated|Statement|of Financial Activities|22|
|Consolidated|and Charity Balance sheets||23|
|Consolidated|Statement|ofcash flows|24 - 25|
|Notes to the Consolidated
Financial Statements|||26-38|
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||Risk||||Mitigation
and management|
|---|---|---|---|---|---|
|Death of residents||and|service||Business processes and practices and staff training
in place including|
|users|||||SUI policy to manage clients;|
|Organisational|financial||||Detailed and ongoing operational
and financial
monitoring
by the|
|performance|and|cash|flow||Board and Senior Management
Team offinancial
position and project|
|impact|||||performance
on community
and housing
projects. Focus on|
||||||occupancy
levels to ensure
full cost recovery.|
||||||Implementation
ofthe new Workforce Development
Program|
|Recruitment|and|maintaining|||including
promoting
the benefits of working for EFas an being|
|an appropriately
trained||||and|employer of choice in the sector, on-Boarding
and a sound Well Being|
|developed
workforce|||||Offer including
being less prescriptive
about experience
in this sector|
||||||and looking at transferable
skills from other sectors.|
|The need for
diversification|growth
and||||The Strategic review considers expansion
into other areas such as
families and concerned others and expanding
opportunities
with|
||||||social investors;
ensuring
current business
is viable and delivering|
||||||outcomes effectively to underpin
growth.|
|Impact measurement
and
quality ofservice delivery|||||Ongoing development
ofour impact measurement
using both internal
and externalcase
management
systems to ensure we can report
reliably on the impact ofthe group's service delivery.|
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|Trustee|Role||||
|---|---|---|---|---|
|David Royce|Chair|(appointed|17|December 2020)|
|Mare Giraudon|Trustee|(appointed|25|March 2021)|
|Janice Horsman|Trustee|(appointed|25|March 2021)|
|Ray Jenkins|Trustee|(appointed|17|December 2020; resigned 25 March 2021)|
|Chris Hill|Trustee|(appointed|17|December 2020; resigned 25 March 2021)|
|Executives ofEmerging
Futures CIC:|||||
|Executive|Role||||
|Ray Jenkins|Chief Executive||||
|Hayden
Duncan|Managing|Director|||
|Chris Hill|Finance Director||||
|Nahim Yakub|National|Housing
and Property||Lead|
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||||||||||Group|
|---|---|---|---|---|---|---|---|---|---|
||||||||||Tatel|
|||||||if»restricted|Restricted||Funds|
|||||||Funds|Funds|I'|2022|
||||||||5||6|
|Interne end endawments|||fram:|||||||
|f7onatfons and legacies||||||||||
|i ave s ttl'Ie I'Its||||||||||
|Charitable
aciivities:||||||||||
|Healtfl and social|rme'||services|||||||
|Other income||||||||||
|Total lncalrle|||||||||7,656,080|
|gxpenegiture
an".||||||||||
|gllmitable
activities.|"|||||||||
|Health and social|caro||services|||6,956,974|96,610||7,053,584|
|Tatel expenditure||||||6,956,974|96,620||7,053„584|
|Net income||||||602,496|||602,496|
|Tox poyebfe|||||||||(2,232f|
|Trailsfeis between||funds||||||||
|Net Incoming mao»ress|||before ether recagnised|gains/(l|ossa sf|600,365||||
|Net movement
in funds||||||600,365||||
|Reconcilietian
af funds||||||||||
|Iotsf funds brought|forward|||||||||
|Total funds serried farwerd||||||600,365||||
##
||||||Group|Charity|
|---|---|---|---|---|---|---|
|||||Notes|2022|2022|
|||||||f|
|Fixed assets|||||||
|intangible
assets|||||3,944||
|Tangible assets|||||132,829|132,829|
|||||||132,829|
|Current assets|||||||
|Debtors|||||806,285|51,329|
|Cash at bank and in||hand|||1„017,722|289,282|
||||||1,824'007|340,611|
|Creditors: amounts||failing due|||||
|within one|year|||10|(1,049,415)|(8,255)|
|Net current|assets||||774,592|332,356|
|Creditors: amounts||falling due|||||
|after more|than one year||||(311,000)|(311,000)|
|Net assets|||||Q$,365|1~185|
|Funds|||||||
|Unrestricted||||12|||
|Restri cted||||13|||
||||||600,365|154,185|
|Aseparate|Statement ofFinancial Activities|||is not presented forthe Charity itself as it has taken|||
|advantage|ofthe exemptions||afforded by section 408ofthe Companies||Act 2006.||
##
||||||Group|Charity|
|---|---|---|---|---|---|---|
|||||Notes|2022|2022|
|||||||t|
|Cash flows from opemting|activities:||||||
|Net cash provided
by operating
activities|||||10,933|111.111|
|Cash flows from investing|activities:||||||
|Dividends,
interest
and rents from investments|||||||
|Cash Qn acqufsltlon
of subsdiary|||||||
|Purchase of intangible
fixed assets|||||||
|Purchase of tangible fixed|assets||||(132,829)|(132,829)|
|Net cash used by investing|activities||||695,789|(132,829)|
|Cash flows from financing|activities:||||||
|New loans in year|||||311,000||
|Repayments
of borrowing|||||||
|Net cash used by financing|activities||||||
|Change
in cash and cash equivalents||in the|period||||
|Cash and cash equivalents|at the beginning||ofthe period||||
|Cash and cash equivalents|at the end|ofthe|year||||
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||||||Group|Charity|
|---|---|---|---|---|---|---|
||||||2022|Z022|
|Reconciliation
ofnet|cash flow to movement||in net debt||F.||
|Increase/(decrease)|ln cash in the yeal||||1„017,722|289,28Z|
|(increase)/Decrease|in net|debt|||||
|Cash and cash equivalents||at the beginning|ofthe period||||
|Cash and cash equivalents||atthe end ofthe|period|||289,282|
||||||Group||
|Reconciliation
ofnet|income to||||2022||
|net cash inflow from|operating activities:||||f||
|Net income for the year|||||16,525||
|Acquisition
of subsidiary|||||||
|Dividends,
interest and rents from investments|||||(41)||
|Amortisation
charges|||||6,408||
|Profit/(loss)
on fixed|asset|disposal|||||
|Increase
in debtors|||||(222,160)|(51,329)|
|increase
in creditors|||||210,201||
|Net cash pmvided
by operating activities|||||19,933|111*111|
|||||At 17||At 31st|
|||||December|Cash|March|
|Analysis of changes
in net||debt||2M0|Flow|2022|
|||||F|||
|Cash at bank and in hand|||||1,017,722|1p017,722|
|Bank and other loans|||||(31],000)|(311,000)|
||||||706,722|706,722|
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|3Analysis ofincome from generated|funds|||Group|
|---|---|---|---|---|
||||Restricted|Total|
||||Funds|2022|
||||6||
||||3,307|3,307|
|hsvestrnent
Income|||||
|Interest on UKcash deposits|||||
|Incoming resources from charitable|activities||||
|Contract income||||3,008,724|
|Grants and donations||||93,303|
|Othe' income||238,578||238 578|
|Rent receivable||3,703,287||3,703,287|
|||6,950,589||7,043,892|
|Otherlncome.|||||
|Otherincome||||608,840|
|Yotal income|||96,6M|7,656,080|
|Emerging Futures CIC(s|ee note 195ubsi diary company).||
|---|---|---|
|||6roup|
|||2022|
|Net incoming resources|is stated after charging.||
|Audt tor sremuneration:|||
|Audit services||17„116|
|Non-audit
services||2,489|
|Operating
lease rentals:|||
|Plant and machinery|||
|Land and buildings|||
|Depreciation
and arnortisation|||
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|4Analysis ofresources expended|4Analysis ofresources expended|4Analysis ofresources expended||||Isestrl cted|Isestrl cted|Total||
|---|---|---|---|---|---|---|---|---|---|
|||||||Funds||2022||
|||||||||f||
|I osf of charitable
adivilies,||||||||||
|Payroll costs||||||||4,136,006||
|Non-payroll
costs||||||||2,90,978||
|Total cost of charitable|activiiies|||||||7,053,584||
|Tat@I Expenditure||||||||||
||||||||||Gcoup|
||||||||||Total|
|Analysis ofresources expended|||||Staff costs|ftousing costs||Other|2022|
||||||f||f|f|f|
|Provision of Colnfnunity||Guntrads|||1,441,1.93|||162,406|1li93 SII9|
|Provisie n AfTransition|II|Ilousing|||7,/0/„76"a|/, Affg, 939||3/S/I/4|4,616,8/8|
|Supporl costs|||||453,766|||289,34'll|/43, 1(//|
||||||4:,097,724|2„088„939||866,921||
|9Staff costs, Trustee remuneration|||and|expenses,|and the cost ofIfey|management|personnel||Group|
||||||||||Total|
||||||||||2022|
|Wages and salary costs|||||||||3,637,174|
|Sot fal security costs|||||||||301,640|
|Tf'al AIAg Costs|||||||||61,4/3|
|gael'ultfnent
and general|payl'oil costs||||||||26,336|
|PCAsion costs fof' defiAecl|conti'lbution|||pe nsfon sche Ale|||||/1,2$)|
||||||||||4,097,729|
##
|half ofth|ese employees.|||
|---|---|---|---|
||||Group|
|Employee|numbers:||2822|
||||Number|
||||167|
|Average|nurnbet
of full time equivalents||159|
|Average|number offull time equivalents|split between:||
|Direct project staff||||
|Operational
support staff||||
|Central|support staff|||
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|7|intangible
fixed assets|ITSoftware|
|---|---|---|
|||costs|
||GroUp||
||Cost||
||On acquisition ofSubsidiary|19,224|
|||19,224|
||Amortisation
and impairment||
||On acquisition ofSubsidiary||
||Amori. isation charged for the year||
||Carrying
arnclUAt||
||At31March 2022||
##
||||||||Charity|
|---|---|---|---|---|---|---|---|
||||||||2022|
|9Debtors|||||||f|
|Amounts|falling|due within|||one year|||
|Trade debtors||||||421,717||
|Gther debtors||||||384,568|3,570|
|Amounts|owed|by|5ubsidiary||company||47,759|
||||||||Charity|
||||||||2022|
|10Creditors:|amounts||falling due within one year|||||
|Trade creditors||||||105,633||
|Defe rred|income|||||662,953||
|Taxation|and social||security|||77,229||
|Other creditors||||||203,600||
|||||||1,049,415||
|Movements
in||deferred||income||||
|At 1April|2021|||||478,286||
|Released|in the|year||||I478,286)||
|Deferred||||||662,953||
|At 31March 2022||||||||
##
|R THE PERIOD|ENDED 31MARCH 2022|||
|---|---|---|---|
|||Group|Charity|
|||2022|2022|
|11Creditors: amounts|falling due after more than one year|g|g|
|Secured loans||311,000|311000|
||||311~000|
|||||Group||
|---|---|---|---|---|---|
|||||2022||
|12Unrestricted
funds||||||
|At 1April 2021||||||
|Retained surplus/(deficit)||for|the year|||
|Transfers from /(to)|restricted||funds|||
|At 31March 202Z||||||
||||||Charity|
||||||2022|
|13Restricted funds|||||E|
|At 1April 2021||||||
|Inconldng resources||||||
|Resources expended||||||
|Transfers from/(to)|Restricted||funds|||
|12|Unrestricted
funds||||
|---|---|---|---|---|
||At 1April 2021||||
||Retained surplus/(deficit)||for|the year|
||Transfers from /(to)|restricted||funds|
||At 31March 202Z||||
##
|F|OR TH|E|PERIOD E|NDED 31|MARCH 202|2|||
|---|---|---|---|---|---|---|---|---|
|14|Analysis|of|net assets between|funds|||Creditors:||
||||||intangib Ie||afAouAts||
||||||and tangible||fatling due||
||||||fixed||after more|Total|
||||||assets||than one year|2022|
||||||f.|||f.|
||Linrestricted||funds||136,773||(311,0')|600,365|
||Restricted|funds|||||||
||Total||||||(311,000)||
||Analysis of||net assets between|funds|intangible||BFAouAts||
||||||and taAgdsle||falling due||
||||||fixed|ittet curreAt|after more|Total|
||||||assets|esse'ts|than one year|2022|
||||||||6||
||LInrestricted||funds||||(311,000)|154„189|
||Restricted|funds|||||||
||Total||||||||
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|||||Land and||
|---|---|---|---|---|---|
|||||buil dlngs|Other|
|||||Group|Group|
|||||2022|2022|
|||||6||
|Gross obligations||repayable|on leases|||
|expiring|within one year|||1,M7,346|33„991|
|expiring|between two and||five years|629,797|25,221|
|expiring|in more|than five|years|106„643||
|||||1,743,786||
##
|intangible|fixed assets|10,352|
|---|---|---|
|Debtors||584,125|
|Cash at bank||828,577|
|Creditors||(839,214I|
|Net assets|acquired atacquisition|583,840|
##
##
||||25,03,2023.to|
|---|---|---|---|
||||31.03.2022|
|Profit and Loss Account||||
|Turnover|||7,046,943|
|Cost of sales|||(6,237,013)|
|Gross profit|||809,930|
|Administrative
expenses|||(755,661)|
|Other operating|income|||
|Operating
profit|||54,269|
|Investment
income|||41|
|Profit before taxation|||54,310|
|Tax on profit|||l2,131)|
|Retained earnings||in period|52,179|
||||31.03.2022|
|Balan«e Sheet||||
|intangible
fixed|assets||3,944|
|Itiet current assets|||442,235|
|Net assets|||446,179|
|Reserves|||446,179|
Iri:1 F211VE
SOCIAL HOUSING
Registered office.. 6 First Avenue, Worthing,
West Sussex, BN14 9NH
Company Registration No.13088737 (England and Wales)
Registered Charity Number No.1193172 (England and Wales)