2021-08-31-accounts - College Of St Barnabas

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The College of St Barnabas Holistic Care in a Christian Community

for the year end		ed	31August 2	021
Contents
Who's Who
Patrons and Presidents
The Members ofthe Council
The Chairman's Foreword
A Review ofthe Year
The New Senior Management			Team	10
Residents				12
The Chaplain's Report				13
Fundraising				14
Marketing				15
The Friends ofthe College				15
Financial Review				16
Structure, Governance and		Management		18
Membership ofCommittees				20
Report ofthe Investment	Adviser			21
Professional Advisers				23
Statement ofTrustees' Responsibilities				24
Report ofthe Independent		Auditors		2S
Financial Statements for the Year			ended 31August	28
2021
Parochial Church Councils	and other organisations			46
which have supported the	College
Trusts which have supported		the College		47

Officers and senior personne	l ofthe College
Chief Executive Officer	Mr Monty Erskine,	BA, MBA, MSc
and Company Secretary
Chaplain	The Reverend Derek		Chandler,	BTh, MDiv
Registered Manager	Mrs Suzan Jack
Housekeeper	Mrs Susan Lewis
Fundraising Manager	Mr Michael Herbert,		BA(Hons), MinstF(Dip)
Estate Manager	Mr Simon Farthing
Human Resources Manager	Ms Kate Afshar

	for t	he year e	nded 31August	2021
					2021	2020
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes	f.'000	f.'000	f.'000	f.'000
INCOME AND ENDOWMENTS FROM
Donations and legacies			223	170	393	431
Charitable activities
Contributions by Residents for accommodation and nursing care			1,725		1,725	1,676
Other trading activities			10		10	16
Investment income			29		29	19
Other income						6
Total			1,987	170	2,157	2,148
EXPENDITURE ON
Raising funds			108		108	120
Charitable activities
Nursing and care costs			970		970	901
Collegiate			1,121		1,129	1,156
Total			2,199	8	2,207	2,177
Net gains on investments			71		71
NET INCOME/(EXPENDITURE)			(141)	162	21	(26)
Transfers between funds		21	130	(129)
Net movement in funds				33	22	(26)
RECONCILIATION	OF FUNDS
Total funds brought	forward		2,703	423	3,126	3,152
TOTAL FUNDS CARRIED FORWARD			2,692	456	3,148	3,126

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	f'000	f'000	f'000	f.'000
FIXEDASSETS
Tangible assets	13	2,390		2,390	2,447
Investments	14	263	446	709	650
		2,653	446	3,099	3,097
CURRENT ASSETS
Stocks	15	16		16	11
Debtors	16	130		130	123
Cash at bank and in hand		95	10	105	178
		241	10	251	312
CREDITORS
Amounts falling due within one year	17	(159)		(159)	(229)
NKT CURRENT ASSETS			10	92	83
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,735	456	3,191	3,180
CREDITORS
Amounts falling due after more than one year	18	(43)		(43)	(54)
NET ASSETS		2,692	456	3,148	3,126
FUNDS	21
Unrestricted funds Restricted funds				2,692 456	2,703 423
TOTAL FUNDS				3,148	3,126

		f	or the year ended 3	1August 2021
				2021	2020
			Notes	f'000	f.'000
Cash flows from operating activities Cash generated from operations Dividends received				(15) 28	83 18
Net cash provided by operating activities				13	101
Cash flows from investing	activities
Purchase oftangible fixed assets				(74)	(72)
Purchase offixed asset investments				2
Sale offixed asset investments				10	7
Interest received				I	I
Net cash used in investing	activities				~64)
Cash flows from financing Loan repayments in year	activities				~40)
Net cash used in financing	activities			(25)	~40)
Change in cash and cash the reporting period	equivalents	in		(73)	(3)
Cash and cash equivalents beginning ofthe reporting	at the period			178	181
Cash and cash equivalents the reporting period	at the end	of		105	178

					2021	2020
					f.'000	f.'000
Net income/(expenditure)	for the reporting		period (as per the
Statement ofFinancial Adjustments for:	Activities)				21	(26)
Depreciation charges					131	120
Gain on investments Interest received Dividends received Increase in stocks Increase in debtors (Decrease)/increase in creditors					(71) (1) (28) (5) (7)	(3) (1) (18) (2) (76) 89
Net cash (used in)/provided		by operations			(15)	83
ANALYSIS OF CHANGES		IN NET FUNDS
				At 1.9.20	Cash flow	At 31.8.21
				f'000	I'000	I,'000
Net cash
Cash at bank and in hand				178	~73	105
				178	~73	105
Debt
Debts falling due within Debts falling due after 1	1 year year			(26) ~54	15 11	(11) ~43
				~80	26	~54
Total				98	~47)	51

	company's pension scheme are charged to the Statement ofFi DONATIONS AND LEGACIES	nancial Activities in the period to whi	ch they rela
		2021	2020
		F000	f'000
	Donanons, grants and legacies	393	431
3.	OTHER TRADING ACTIVITIES
		2021	2020
		8'000	F000
	Staffrental income		4
	Telephone mast rental income	10	8
	Event income		4
		10	16
4.	INVESTMENT INCOME
		2021	2020
		f.'000	f.'000
	UK listed investments	28	18
	Deposit account interest	1	1
		29	19

	INCOME FR	OM CHAR	ITA	BLE ACTIVI	TIES
							2021	2020
				Activity			F000	f'000
	Contributions	by residents	for
	accommodation	and nursing		Contributions	by Residents	for
	care			accommodation	and nursing	care	1,725	1,676
6.	RAISING FUNDS
	RAISING DONATIONS		AND LEGACIES
							2021	2020
							F000	f.'000
	Staffcosts						73	95
	Other costs						25	15
	Event costs							2
							98	112

	INVESTMENT MANAGEMENT	INVESTMENT MANAGEMENT
			2021	2020
			E000	E000
	Portfolio	management	10	8
	Aggregate	amounts	108	120
7.	CHARITABLE ACTIVITIES COSTS

						Support
					Direct	costs (see
					Costs	note 8)	Totals
					f.'000	E000	E000
	Nursing	and	care costs		796	174	970
	Collegiate				950	179	1,129
					1,746	353	2,099
8.	SUPPORT		COSTS
						Governance
				Management	Finance	costs	Totals
				f.'000	E000	F000	f.'000
	Nursing	and	care costs	171		3	174
	Collegiate			174		4	179
				345			353

			2021	2020
			E000	f'000
Auditors'	remuneration		7	7
Depreciation		- owned assets	131	120

There were no trustee STAFF COSTS	s' expenses paid for t	he year ended 31 August 2021 nor for	the year ended 3	1 August 20
			2021	2020
			f'000	I'000
Wages and salaries Social security costs			1,322 92	1,271 98
Other pension costs			48	54
			1,462	1,423
The average monthly	number ofemployees	during the year was as follows:
			2021	2020
Staffdirectly involved	in delivering		105	97
Fundraising			2	3
Warden			1	1
Administration			4	5
			112	106

	Notes to the Financial Statements - continued for the year ended 31August 2021	Notes to the Financial Statements - continued for the year ended 31August 2021	Notes to the Financial Statements - continued for the year ended 31August 2021
12.	COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	funds	funds
			F000	f.'000	f'000
	INCOME AND ENDOWMENTS FROM
	Donations and legacies		200	231	431
	Charitable activities
	Contributions by Residents	for
	accommodation and nursing	care	1,676		1,676
	Other trading activities		16		16
	Investment income		19		19
	Other income		6		6
	Total		1,917	231	2,148
	EXPENDITURE ON
	Raising funds		120		120
	Charitable activities
	Nursing and care costs		901		901
	Collegiate		1,156		1,156
	Total		2,177		2,177
	Net gains on investments
	NET INCOME/(EXPENDITURE)		(257)	231	(26)
	Transfers between funds		151
	Net movement in funds		(106)	80	(26)
	RECONCILIATION OF	FUNDS
	Total funds brought forward		2,809	343	3,152
	TOTAL FUNDS CARRIED FORWARD		2,703	423	3,126

13.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
				Freehold
				property	Refurbishments	Equipment		Totals
				6'000	f.'000	F000		f.'000
	COST
	At 1 September 2020			1,835	1,158		720	3,713
	Additions				52		22	74
	At 31August 2021			1,835	1,210		742	3,787
	DEPRECIATION
	At 1 September 2020			465	197		604	1,266
	Charge for year			18	61		52	131
	At 31 August 2021			483	258		656	1,397
	NET BOOK VALUE
	At 31August 2021			1,352	952		86	2,390
	At 31August 2020			1,370	961		116	2,447
14.	FIXEDASSETINVESTMENTS
						Cash	and
					Listed	settlements
					investments	pending		Totals
					f'000	F000		I'000
	MARKET VALUE
	At 1 September 2020				623		27	650
	Additions				166		156	322
	Disposals				(157)	(177)		(334)
	Revaluations				71			71
	At 31August 2021				703			709
	NET BOOK VALUE
	At 31 August 2021				703			709
	At 31 August 2020				623		27	650
	There were no investment	assets outside the UK.
	The following investments	were held at 31August 2021:
						2021		2020
						F000		f.'000
	Johnson Controls International		PLC Com USD1.00			33		18
	Tesco Ord GBP0.05 Prudential Ord f0.05					18 26		20 21
	Sergo PLC Ord GBP0.10					34		25
	Scottish Mortgage lnv Trust Ord GBP0.05							61
	Toyota Motor Corp NPV					21
	Wellington Mgmt Funds (Ireland) Global High Yield			BD SGBP	Dis
	Hedged					19
	Allianz Technology Trust	pic	Ord GBP0.25					56
	Bellway GBP0.125					22		15
	Rentokil Inital Odg GBP0.01					24
	Siemens AG Npv(Regd)					26

FIXEDASSETINVESTMENTS -continued
Tencent Holding Ltd HKD0.00002			18
Liontrust Investments Ltd Monthly Income bond			24	24
Texas Instuunents Inc Com USD1.00			27
Kion Group AG NPV			24
Smith(DS) Ord GBP0.10			23	13
31Infrastructure Ord NPV			31	28
Roche Holdings AG Genusscheine NPV			35	32
BAESystems Ord GBP0.025			24
The Renewables In&astructure GRP Ord NPV			23	25
Royal London Asset Management Ethical Bond Z	GBP DIS		23	22
Threadneedle Investments Fund UK Social Bond Institutional		GBPDIS		22
Lyxor International Asset Mgmt Lyxor Core FTSEActuaries		UK Gilts	22	23
(DR) First State Investments Global Listed In&astructure	BGBPInc		21	19
Microsott Corp Com USD0.00000625			43	33
Pennon Group Ord GBP0.407			18	22
Aviva Investors UK Svcs Ltd Higher Income Plus	2Inc		21	20
Encl Spa EUR1 Bank ofAmerica Corporation Com USD0.01			22	22 17
Takeda Pharmaceutical Co Ltd NPV			18	21
Compass Group PLC Ord GBP0.1105 Astrazeneca Ord USD0.25			26 22	21 21
Unilever PLC Ord GBP0.031111			19	21

STOCKS
	2021	2020
	f.'000	f.'000
Stocks	16	11
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
	2021	2020
	f.'000	f,'000
Trade debtors	107	89
Other debtors	3	16
Prepayments	20	18
	130	123

17.	CREDITORS: AMOUNT	S FALLING DUE WITHIN ONE YEAR
			2021	2020
			f.'000	F000
	Bank loans and overdratts	(see note 19)		15
	Other loans (see note 19)		11	11
	Tmde creditors		52	39
	Social security and other taxes		23	26
	Other creditors		73	138
			159	229
18.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
			2021	2020
			F000	F000
	Other loans (see note 19)		43	54

	2021	2020
	f'000	F000
Amounts falling due within one year on demand:
Bank loans		15
Other loans	11	11
	ll
Amounts falling between one and two years:
Other loans —1-2years
Amounts falling due between two and five years:
Other loans —2-5 years	32	32
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal

					2021	2020
					f'000	F000
Within one year					5	9
Between one	and five years				9	15
					14	24
MOVEMENT IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.9.20	in funds	funds	31.8.21
			F000	F000	f.'000	f'000
Unrestricted	funds
General fund			65	(66)	30	29
Tangible Fixed Assets			2,369	(131)	100	2,338
Legacy fund			124	56		180
Underfunded	contributions	(Designated
fund)			145			145
			2,703	(141)	130	2,692
Restricted funds
Walsingham	Pilgrimage		3			3
Nursing wing	laundry		5	(2)		3
Underfunded	contributions		331	163	(129)	365
Chapel Lighting Fund			2			2
Re-wiring project			81			81
Furture Boiler Replacement			1			2
			423	162	129	456
TOTAL FUNDS			3,126	21		3,148
Net movement	in funds, included		in the above are as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			f.'000	f.'000	F000	F000
Unrestricted	funds
General fund			1,931	(2,068)	71	(66)
Tangible Fixed Assets				(131)		(131)
Legacy fund			56			56
			1,987	(2,199)	71	(141)
Restricted funds
Nursing wing	laundry		6	(8)		(2)
Underfunded	contributions		163			163
Furture Boiler Replacement			1			1
			170			162
TOTAL FUNDS			2,157	~2,207)	71	21

				Net	Tmnsfers
				movement	between	At
			At 1.9.19	in funds	funds	31.8.20
			8'000	f'000	f'000	F000
Unrestricted	funds
General fund			168	(140)	37	65
Tangible Fixed Assets			2,377	(122)	114	2,369
Legacy fund			119	5		124
Underfunded	contributions	(Designated
fund)			145			145
			2,809	(257)	151	2,703
Restricted funds
Walsingham	Pilgrimage					3
Nursing wing	laundry			5		5
Underfunded	contributions		306	127	(102)	331
Chapel Lighting Fund			2			2
Re-wiring project			2	47	32	81
Boiler Replacement			30	51	(81)
Furture Boiler Replacement				I
			343	231		423
TOTAL FUNDS			3,152	~26)		3,126

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		I,'000	f.'000	f.'000	I'000
Unrestricted	funds
General fund		1,912	(2,055)		(140)
Tangible Fixed Assets			(122)		(122)
Legacy fund					5
Restricted funds		1,917	(2,177)		(257)
Nursing wing	laundry	5			5
Underfunded	contributions	127			127
Re-wiring project		47			47
Boiler Replacement		51			51
Furture Boiler	Replacement	I			1
		231			231
TOTAL FUNDS		2,148	(2, 117777)		~26)

		2021		2020
		f.'000		f.'000
INCOME AND ENDOWMENTS
Donations and legacies
Donations, grants and legacies			393	431
Other trading activities
Staffrental income
Telephone mast rental income			10
Event income
			10		16
Investment income
UK listed investments			28		18
Deposit account interest			1		1
			29
Charitable activities
Contributions by residents	for accommodation
and nursing care		1,725		1,676
Other income
Furlough Claims
Total incoming resources		2,	157	2,148
EXPENDITURE
Raising donations and legacies
Wages			63		85
Social security			6		3
Pensions			4		7
Other costs			25		15
Event costs					2
			98		112
Investment management	costs
Portfolio management			10
Charitable activities
Wages		1,079		1,033
Social security			69		85
Pensions			29		32
Sundries			6		6
Other nursing costs			101		134
Housekeeping costs			141		151
Premises costs			190		202
Carried forward		1,615		1,643

		2021	2020
Charitable activities		C000	f'000
Brought forward Depreciation of	tangible fixed assets	1,615 131	1,643 122
		1,746	1,765
Support costs
Management
Wages Social security Pensions Advertising Professional charges Office costs		180 17 15 5 34 94	153 10 15 4 13 88
		345	283
Finance
Loan Interest
Governance costs
Auditors' remuneration
Total resources expended		2,207	2,177
Net expenditure	before gains and losses	(50)	(29)
Realised recognised gains and losses
Realised gains on	fixed asset investments		~33)
Net expenditure			~62)

	Duckmanton
	Winterbourne	Gunner	St. Mary PCC
	Swilland		St. Mary PCC
	Sunbury		St. Mary PCC
	Little Houghton		St.Marythe	Virgin	PCC
	Withyham		St. Michael & All Angels			PCC
	Walden		St. Paul PCC
	Edenbridge		St.Peter and	St. Pauls PCC
	Sawrey		St.Peter PCC
			St. Peter-ad-Vincula
			Stoke Doyle PCC
	St. Philip &St.James		LJp Hatherley	PCC
	St.Lawrence		Willington PCC
	South Nutfield		Christ Church	PCC
	Royston		St.John the Baptist PCC
	Sunbury		St. Mary PCC
	Northampton		St. Michael &	All Angels		w. Holy Sepulchre	Church	PCC
TruStS
	The	Clergy Support	Trust
	The	Community Of	The Presentation	Trust
		F BCoales No.	4 (Family) Trust
	The	Fulmer Charitable Trust
		Ganzoni Charitable Trust
		Glossop Family	Trust
	The	Loseley Christian Trust
	The	Ofenheim Charitable Trust
		PF Charitable Trust
		Rootes Charity	Trust
		St.Alban Great	llford Trust
	The Patricia	Wright Charitable Trust
	The	Wilbraham Charitable Trust
	RJ	Wyber Charitable Trust
	Friends Of	College ofSt.Barnabas
		Stedkare Trust
		Whyteleafe Charitable Trust
	The	Anson Charitable	Trust
		Pillar Charitable	Trust
	Nias	Wheatley Charitable Trust