2021-03-31-accounts - The Field Lane Foundation

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THE FIELD LANE FOUNDATION

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Consolidated
Annual Report and Accounts
31 March 2021
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Field Lane is a Christian charity that is committed to providing innovative care, accommodation and support for adults with learning disabilities and vulnerable families.

Registered Office: Ground Floor, 85 Buckingham Gate, London, SW1E 6PD www.fieldlane.org.uk Company Registration Number: 98226 Charity Registration Number: 207493 Registered Housing Association Number: LH3047

The Field Lane Foundation Consolidated Annual Report and Accounts for the year ended 31 March 2021

Contents	Page
Chair’s Statement	3
Administrative and Legal Information	4
Report of the Board of Directors	5
Independent Auditor’s Report to Directors	15
Consolidated Statement of Comprehensive Income	19
Consolidated and Foundation Statement of Financial Position	20
Consolidated Statement of Cash Flows	21
Notes and Accounting Policies	22

The Field Lane Foundation Consolidated Annual Report and Accounts for the year ended 31 March 2021

CHAIR’S STATEMENT

In my first year as Chair I am pleased to report that Field Lane’s core business continues to grow, and therefore support more people, despite the challenges of operating during the COVID pandemic. These have been uncertain times for us all and especially for charities. However, despite these challenges, Field Lane’s fresh approach has continued to provide a unique combination of care, accommodation and support for adults with learning disabilities and vulnerable families.

We are very lucky to have strong relationships with the local authorities who very much value the services we provide. We continue to benefit from their financial support and are appreciative of the additional grants that Surrey County Council, West Sussex County Council and Southend Borough Council have given to us as we continue to provide safe and secure accommodation for both our clients and staff.

We have also benefitted from some very generous donations and, as a result, we have been able to make sure we have adequate supplies of PPE equipment to ensure the safety of our clients and staff throughout the COVID pandemic. We are very grateful to our donors who have enhanced the lives of our clients in many ways during the last few years.

During the year we transferred our nursing care home, Badgers, to another provider. We had successfully run this home for many years but, increasingly it had become challenging to maintain its financial viability due to a lack of referrals for the accommodation resulting in an unsustainable level of voids in the unit. This had come about due to a change in views about the funding of care and nursing homes. During the current year, prior to the transfer, it has negatively impacted on our overall financial position. However, we are very pleased that we were able to transfer the project to another provider which was a good result for our residents who will continue to live there.

Our project in the Royal Borough of Kensington and Chelsea continues to provide an outstanding service to our clients who have required support during these uncertain and difficult times.

The success of the work of Field Lane depends on the dedication and skill of our staff and volunteers and the Board of Trustees joins with me in thanking them wholeheartedly. I would also like to thank my fellow trustees for their time and support during the year. They have helped ensure that Field Lane is in a healthy position and able to look to the future with confidence. I am very grateful for their efforts. I would especially like to thank my predecessor, Alex MacDonald, who has led the Board successfully as Chair for a number of years. We are very grateful for her efforts and delighted that she has agreed to remain on the Board as a trustee.

Chris Hamill Chair

The Field Lane Foundation Administrative and Legal Information for the year ended 31 March 2021

Board Members

During the year, the following Directors held office:

Chair	Chris Hamill	Elected as Chair: March 2021	Elected as Chair: March 2021
Vice Chair	Timothy Hornsby
Treasurer	Francis Moore
Directors	Kate Andrews
	Sharleene Bibbings
	Fiona Crispin-Jennings
	Jonathan Freeman	Resigned June 2021
	Keith Grehan
	Elizabeth Harper
	Alexandra Lopoukhine
	Alex MacDonald	Resigned as Chair: March 2021
	Caroline Terry
Senior Management Team
Chief Executive and Company	Peter Calderbank
Secretary
Constitution	Company registration number:		98226
	Charity registration number:		207493
	Registered Housing Association	number:	LH3047
Professional Advisors
Auditors	Solicitors
Crowe U.K. LLP	Shakespeare Martineau
55 Ludgate Hill	Bridgeway
London	Stratford upon Avon
EC4M 7JW	CV37 6YX

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

AIMS OF FIELD LANE

The aims of Field Lane are to support and care for people who through disability or personal circumstances need our services. The charity enables people to lift and enrich their quality of life and constantly seeks ways to develop new responses and effective interventions. Field Lane has a Christian basis which sets the value base for all of its work. All of its services are open to all and none are restricted except by suitability.

HISTORY

Field Lane is a modern charity with a long and interesting past. It started in the notorious ‘Field Lane’ area, which has now been incorporated into Saffron Hill, in the City of London. Andrew Provan, a London City Missioner, came to the area in 1841 to teach children and young people. By 1860 the Field Lane Ragged School he founded was teaching over 500 children and young people every day in one enormous classroom.

It was clear to Andrew Provan that unemployment, sickness, family breakdown, overcrowded housing and lack of opportunity were all major problems in the area. Services were introduced such as visiting the sick, distributing maternity baskets, providing job training and placements through the industrial schools and even small businesses were opened. Night refuges were also opened with immediate success. The Field Lane Ragged School enjoyed the support of many well-known people, including Lord Shaftesbury and Charles Dickens, and became one of the most famous of the ‘ragged schools’.

Following the education and welfare legislation of the 1940’s the decision was taken in 1947 to move the focus from young people and concentrate on care of older people which it had earlier introduced in 1900. The loneliness, failing health, inadequate and unsuitable housing were all things that Field Lane felt it could address. A range of options were offered to the elderly including residential and nursing care, sheltered accommodation and day care. Field Lane also developed an expertise in dementia. This was an area in which Field Lane continued to provide support until the early 21st century.

In 1995, the poor bed and breakfast conditions in which homeless families in London were being forced to live attracted the charity’s attention and a support service was opened. This work with families has expanded and adapted and it now offers supported housing with specialist learning opportunities for families along with personalised support.

An approach by the NHS, during the closure of a hospital for people with a learning disability in Southend, led Field Lane to open a nursing home in 1993. The success of this encouraged the charity to use this expertise to help more people with a learning disability. Field Lane opened its first supported housing scheme for adults with a learning disability in 2005. Similar homes, which promote life quality and independence, have been opened. Domiciliary care agencies, offering support to the wider community, have been established as well. New projects, aimed at making a difference to the everyday lives of people, continue to be developed.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

SUMMARY OF PROGRESS AND ACTIVITIES

Progress during the year

Last year we made the decision to exit the nursing care sector. We finalised the transfer of the Badgers care home to the new owners during the year and the income and costs are reflected in the statement of comprehensive income as discontinued activities with all assets, other than the retention of an interest in the Freehold, having been disposed of in the accounts for the previous year.

The underlying performance of Field Lane remains strong and adjusting the numbers for the discontinued activities would have improved the surplus for the year by £120,947. The surplus for the year, including the losses of £120,947 associated with Badgers but before the actuarial loss of £11,617, is £18,282 (2020 loss: £531,092).

Activities

During the year Field Lane provided:

Supported housing, registered care and domiciliary support for people with learning disabilities and for those with additional mental health issues.
Supported housing and personal development for families and children who are in temporary accommodation due to homelessness or are vulnerable to becoming homeless.
Consultancy, management and back office support for care and support services run by other charities and religious orders.

Services for people with a learning disability

• Average number of people in nursing care • Average number of people in supported housing • Average number of people receiving support only	2021 4 54 30 88	2020
		9 46 29 84

Average occupancy (nursing care and supported housing) 94.4% 90.4%

Surveys designed to assist engagement are regularly undertaken and reported to the Board’s Quality and Development Committee. The levels of occupancy, the feedback from the satisfaction surveys and the potential long-term financial stability of the houses have encouraged Field Lane to continue to invest in the supported housing model.

The support for the clients in the houses is provided through our two agencies, Field Lane Care and Support, in Surrey and Southend. We also provided services to the community and supported up to 39 clients living in their own accommodation in the locality. Both agencies operate on a spot-purchase model and income is dependent on the individual needs of each client with rates being negotiated with the local authority and the family or client.

Families

• Average number of families in supported living Average occupancy	2021 18 97.8%	2020 18 96.4%

The year saw this highly valued scheme continue to be in demand, meeting the needs of the client families referred to Andrew Provan House by the Royal Borough of Kensington and Chelsea.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

Consultancy and management support

During the year Field Lane Management Services Limited continued to work with Our Lady of the Missions to provide services to support their nursing home in Canterbury.

Consulting services are provided through Field Lane Management Services Limited (FLMS Ltd) by senior staff of Field Lane with all profits gifted to the charity. Services provided to FLMS Ltd by Field Lane are charged to FLMS Ltd.

EXTERNAL INFLUENCES

Local authority referral policies

The financial pressures in the sector continue to be significant and have been especially so during the COVID pandemic. However, we have been grateful for COVID related grants received from the local authorities that we work with during the last year to cover additional costs incurred. There have also been small fee increases awarded by the local authorities that we work with.

The Board has future plans to increase the number of supported living schemes as well as expanding the domiciliary support. Further borrowing capacity is available to support this, however, the Board is cautious about overextending the charity.

Regulator of Social Housing

The Board confirms that it fully complies with the Governance and Financial Viability Standard issued by the Regulator. Reporting and regulatory requirements have been reviewed and discussed recently to ensure compliance. No approaches were made to the Regulator for funding during the year.

Care Quality Commission (CQC)

The CQC has continued its inspections of services and offering suggestions for improvements. Where these have been highlighted they have been acted upon promptly. All inspections achieved a rating of good or better.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Board

The governing body of Field Lane is the Board of Directors. The Directors are also the Trustees and Members of the charity. The Board considers that its primary role is to establish the strategic direction, ensure financial viability and adopt and adhere to the highest standards of governance.

To fulfil this role, the Board met seven times during the year for general meetings including a strategy planning day. Directors join one of the two sub-committees: the Finance and General Purpose Committee and the Quality and Development Committee. The Finance and General Purpose Committee has responsibility for all financial, legal and asset management functions. The Quality and Development Committee has responsibility for operational and client support services and accepts the quality monitoring and assessment reports on behalf of the Board. In addition, there is a Remuneration and Performance Committee which meets to discuss the remuneration and performance of senior executives. The Board members also regularly visit the projects.

The organisation follows the Charities Governance Code 2020. The Board and Chief Executive are mindful of the need to comply with this Code and consider that Field Lane are in compliance.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

Recruitment and appointment of Board Members

There are currently eleven Directors of the Board.

Responsibilities of Board Members

The Board of Directors is responsible for preparing the report of the Board of Directors and the financial statements in accordance with applicable law and regulations.

Company law, and law applicable to registered social housing providers in England, requires the Board of Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom accounting standards and applicable law). Under company law the Directors 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 group and of the parent company and of the profit or loss of the group for that period.

In preparing these financial statements the Directors are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable SORP;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation's transactions, to disclose with reasonable accuracy at any time the financial position of the Foundation and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing in England from April 2019. They are also responsible for safeguarding the assets of the foundation and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Board of Directors is responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions.

Provision of information to the statutory auditor

Each person who is a Director at the date of approval of this report confirms that:

so far as the Director is aware, no relevant audit information has been withheld from the statutory auditor;
the Director has taken all the steps that he/she could reasonably be expected to have taken as a Director in order to make himself/herself aware of any relevant audit information; and
has established that this information has not been withheld from the auditor.

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

President

George Gordon, the 8[th] Marquess of Aberdeen and Temair, has been Field Lane’s President since 2013. His family has had a long association with the charity as his relatives, the 1[st ] and 2[nd] Marquesses of Aberdeen, had been Presidents in the past. Field Lane is very grateful for his generosity and commitment to the charity. He understands the work that Field Lane undertakes and keenly supports the Christian basis. We look forward to continuing to work with him.

Accountability

Field Lane is regulated by the Regulator of Social Housing, is registered as a Housing Association (Registered Provider) and the Care Quality Commission. Annual returns are also submitted to Companies House.

Management

Executive responsibility is delegated to the Chief Executive who meets regularly with the Chair to discuss the charity’s work and receive advice.

The senior management team comprises the Chief Executive, the Director of Finance and the Director of Operations. Project development, human resource administration and payroll are placed with consultants. Human resources advice and guidance is contracted from Peninsula Business Services.

Individual Training and Development

All members of staff are supported through appropriate training and development programmes and all mandatory training is delivered either in-house or through the use of external experts. Individual development opportunities are also available to all volunteers.

PUBLIC BENEFIT

The Board members are very conscious of their responsibility for public service and have had regard to Charity Commission guidance.

The aim of Field Lane is to support and care for those who are highly vulnerable. All Field Lane’s services are open to local authority referrals. Accommodation is let at levels of rent and service charges which can be met by housing benefit. Some support services are paid for or contributed to by the client following discussion and the application for appropriate welfare benefits. All the supported housing is used by people funded by their local authority or let at housing benefit levels.

Field Lane has for some time run a social club in Redhill for people with a learning disability and their carers with the aim of maintaining a successful weekly programme of activities. Staff and helpers give their time on a voluntary basis. This is a popular and well-regarded initiative which has given the work of Field Lane an increased profile and encouraged support. However unfortunately due to COVID restrictions the social club has been closed but we hope to resume it when it is safe to do so.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

VALUE FOR MONEY

For Field Lane, Value for Money is a combination of efficient use of buildings and resources together with an effective use of trained and supported staff. This ensures that our residents and tenants get the support and care they need and look for, commissioners or service purchasers consider their expectations are met or exceeded and Field Lane is assured that its assets and general expenditure are used efficiently to meet the Board’s planned outcomes.

In situations where people have specific needs that have to be met or where people are supported in the community to live independently, Value for Money has to be understood as a combination of service delivery at the lowest price commensurate with the quality of provision expected by the client and the commissioner. Our experience is that the price charged for our services is negotiated with commissioners and the service then provided is very much appreciated by the clients and their families. People enjoy a commitment to a level and style of personal support that gives them life experiences they have never had before and could only have aspired to. As some clients are considered to have more challenging behaviour and yet are supported to live in the community as an alternative to more expensive provision, the value for the commissioner is considerable.

Each client with supported living or in the community has a personal budget and that budget is controlled to give appropriate support which is neither excessive nor insufficient. Our clients meet as part of Field Lane’s Advisory Panel and are regularly surveyed for satisfaction. Their comments and views are reported to the Quality and Development Committee of the Board and are used to improve services.

Some of Field Lane’s services are competing with others in the locality for the business of each individual client. Where services are long term, the individual rate is agreed annually with the commissioners who have the opportunity to compare with other providers. In all services the price charged to the purchaser has to be acceptable and the total offer must demonstrate value for money. A reputation for poor value would harm the charity and its business.

Procurement is managed proactively with protocols applying to all purchases and the Board approving large items of expenditure. The charity regularly undertakes a Value for Money exercise, looking at the main areas of cost to the charity. Efficiency gains have been achieved while continuing to maintain high client and customer satisfaction and increasing staff salaries in line with the market. This performance is expected to continue while maintaining a high quality of service.

Management accounts are prepared and circulated to the Board. Costs and key metrics are carefully monitored and reported.

Value for Money Standard Metrics:

alue for Money Standard Metrics:
	2021	2020	2019
Reinvestment	2.9%	11.6%	9.6%
New supply delivered – non-social housing (supported living)	0%	5.7%	12.0%
Gearing*	69.6%	68.5%	63.1%
EBITDA MRI interest cover **	5.2	3.2	4.2
Social housing cost per unit	£5,527	£5,278	£5,280
Operating margin – social housing activities **	2.3%	1.1%	0.7%
Operating margin – all activities **	2.3%	1.1%	1.3%
Return on capital employed	4.8%	2.0%	2.0%

The gearing is calculated by taking the total debt and dividing by the Net Assets adjusted for property at original acquisition cost *EBITDA and operating metrics are based on earnings for continuous activities

The current year result included the finalisation of the exit from the nursing care service which is reflected in the return to a small surplus for the year and improved EBITDA. The implications of COVID through the reporting year meant that the focus has been on protecting our clients and also prevented us from adding new capacity during the year resulting in a reduction in the % of reinvestment.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

RISK MANAGEMENT AND INTERNAL CONTROL

The Chief Executive prepares a risk register which is reviewed quarterly with the Board. This matrix categorises risks into the following groups; external, financial, operational and strategic. There are further categorisations which are the reviewed at a more detailed level. Further, we look at exposure, probability, and impact and assign an overall rating to each individual risk. The individual risks are closely monitored.

The key risks identified are in the following areas; Safeguarding of vulnerable adults, Financial, and Health and Safety within our properties and for our staff.

Clients are encouraged to pursue lives in which they have a great deal of choice over their lifestyle and in which risks are assessed and understood. There are opportunities to undertake activities and travel to places that may be barred for clients of less open or adventurous organisations. Careful risk management supports innovative practice in all of Field Lane’s activities and gets positive feedback from the commissioners and the clients’ families as well as the Care Quality Commission.

The Board expects all services to deliver a financial return and for the financial risks to the charity to be minimised. Fraud policies and approved procedures are in place for the protection of clients and the organisation.

Throughout the COVID pandemic, the Board have been regularly appraised of the situation as it pertains to all of our projects, clients and staff. There is a very strong emphasis on keeping both our clients and our staff safe. To that end we have good stocks of PPE, although that has not always been easy. We believe we are protecting those in our care to the best of our ability.

There is extensive health and safety training for all staff. Staff are supported to acknowledge and understand the policies in place, such as lone working, which assess risks and help manage their safety.

BUSINESS PLANNING

Strategic planning

Board committees and individual Directors are closely involved in the targeted delivery plan on which progress is regularly reported.

The Board meets annually for a strategic planning day to discuss and approve the strategic plan and direction for the following year. The Board also approves the annual budget.

Within the context of Field Lane as a modern, Christian and innovative organisation, the continuing aim is to develop Field Lane’s role as a provider and manager of specialist supported living services and in particular to operate and develop new houses and services for people with a learning disability.

Business goals, achievements and performance

Over the last few years Field Lane has rationalised its services and now has a clear focus on providing support to adults with learning disabilities. Our Christian heritage and understanding of society is at the heart of all that we do, delivering services to people of all faiths and those with no faith. As part of the plan, reviewed in 2020, we will continue to ensure a client centred approach is adopted throughout the organisation.

In what continues to be a challenging operating environment we have set strategic objectives in four areas:

Ensuring long term financial sustainability
Growing the charity
Delivering high quality services
Building strong relationships with partners and supporters.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

At the end of the financial year, we had 98 units (2020: 106) of accommodation across the charity following the disposal of our Badgers care home, providing about 23,420 hours of support (2020: 24,000) each month to 103 people (2020: 106). As part of the implementation of the business plan we will seek to develop between 1 and 2 new projects each year. We expect each new project to, typically, provide support to an additional 6 people. We also plan to increase the number of individuals we support in the community.

The financial projections show our income increasing over the next few years while maintaining a healthy surplus. The charity is in a much stronger position to reinvest in maintenance and new facilities.

The fixed assets register reflects current property and equipment used by the charity; the maintenance of these assets is scheduled and the quality and procurement cost of all external services is kept under continuous review.

CASH DEPOSITS

Cash deposits are all held in treasury deposit fund accounts, with a number of banks. Field Lane follows a low risk investment policy whereby we look to keep surplus cash in deposit accounts whilst ensuring that we keep cash available to meet working capital requirements as they fall due.

FINANCIAL POSITION AND RESERVES

The annual accounts show an acceptable performance. Whilst our operating surplus for the year was £103,920 (2020: 444,666 loss), when adjusted for our discontinued activities associated with Badgers, we show an operating surplus of £224,867 (2020: £61,594). This represents a good performance in difficult conditions. The transfer of the Badgers care home to the new operator was completed in August of 2020 and the assets were disposed of in the previous year end accounts for the year ended 31 March 2020.

The Restricted Funds are mainly modest and often come from bequests that have specified a particular purpose, or from funds raised centrally or locally by projects for their amenities. These funds are subject to financial procedures which ensure that they are used for the specified purpose and within the year for which they were given.

Undesignated Funds are intended to be sufficient to cover working capital requirements. The Board considers that there are sufficient funds for this purpose.

At the end of the year the foundation held undesignated reserves of £3,100,794 equivalent to over 6 months of operating costs of the foundation. The Foundation aims to have 6 months or more of undesignated reserves.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

FUNDRAISING

The work of the charity has been supported throughout the year by individuals, trusts and companies and the Board is very grateful to them all for sharing our commitment. In particular, the Board are grateful for support from the following:

Betchworth United Charities	Community Foundation for Surrey	Privy Purse Charitable Trust
Fowler Smith and Jones Trust	Frimley Fuel Allotments Charity	Charis Trust
Daughters of Jesus CIO	Childwick Trust	SMB Trust
Susan Davis legacy	Kathleen Smith Charitable Foundation	Fritton Trust
Charles S French Charitable Trust	Sir Robert Houghton Charitable Trust	Stephen Cockburn Charitable Trust
Mrs M V Staplehurst	Fire Wood Marketing	Charles S French Charitable Trust
Anthony Harding	Furniture Box	Swire Charitable Trust
Aldingbourne Gospel Trust	Talisman Charitable Trust	Jack Petchey Foundation

Field Lane abides by the ethical standards and the Code of Practice set by the Fundraising Regulator. We maintain the highest standards possible and our approach has always been to safeguard those who are most vulnerable from inappropriate fundraising practices.

We realise that fundraising is one of the key ways in which we interact with our supporters, donors and the general public. Our approach ensures that the reputation of the charity is maintained at a high level. During the year we have not received any complaints concerning our fundraising practices. Fundraising performance and policy is regularly discussed by the Board and we believe that over the year the charity can be proud of its actions in this area.

EMPLOYEES AND VOLUNTEERS

Employee involvement is always encouraged at Field Lane and colleagues are asked for their views on what we should be doing with Field Lane to improve our services for our clients, as well as how we can make this organisation a great place to work.

Salaries are set by the management with reference to market rates and affordability. Most years there is an annual increase, which is proposed by management and signed off by the Board. Field Lane also has a Remuneration and Performance Committee that reviews senior salaries and performance. The CEO’s salary is approved by the Board.

Colleagues have been involved in:

engagement sessions on the strategic direction of Field Lane and its longer-term goals through an online survey
providing regular updates for the Board of Directors on initiatives and activities in each of the projects

We have a range of detailed human resource policies to support our charitable and business objectives which are reviewed regularly and ensure compliance with employment legislation.

Volunteers who give their time and expertise free of charge to Field Lane are a most valuable resource and enable essential functions and services to take place. Many staff and their families give their own time throughout the year and the charity remains very grateful to them.

No monetary value has been placed on volunteers’ time. However, it is clear that without their gift Field Lane would be faced with considerable additional expenditure and would struggle to provide all the services we do. Therefore, their support, and the ideas and enthusiasm that they bring, is highly appreciated.

The Field Lane Foundation Report of the Board of Directors for the year ended 31 March 2021

GROUP STRUCTURE

Field Lane comprises the Field Lane Foundation and a wholly owned subsidiary, Field Lane Management Services Limited.

FUTURE PLANS

Field Lane will continue to provide responsive housing care and support through projects within the community. We plan to continue adding projects when appropriate.

GOING CONCERN

These accounts have been prepared on a Going Concern Basis.

We have secure revenue streams as most of our income derives from local authorities. Further, as our expenditure on PPE has increased we have had additional funding from the local authorities and our donors to cover the extra costs.

Going forward, the Foundation should benefit from the strategic decision to exit the nursing care sector. In the past year this has had a negative impact on our cashflow.

We have modelled out the cashflow for the twelve months from date of signing these accounts and this analysis shows an improving cash balance. Further we have renewed our overdraft facility and drawn down a proportion of our loan facility to provide us with an extra buffer.

Finally, our business model has a large proportion of costs that are directly correlated with income. To the extent our income falls our need to provide and pay for care support staff will also fall.

The Board believes that there is no material uncertainty in the Financial Statements.

ACKNOWLEDGEMENTS

The Board of Field Lane wishes to record its deep appreciation of its staff and volunteers. We would also like to thank our advisors and all the people and organisations which have supported Field Lane so strongly during the past year, and we acknowledge their vital contribution to the charity’s work. We would also like to thank our donors who have continued to be very generous.

In preparing this Report of the Board of Directors, advantage has been taken of the small companies exemption, including the requirement to produce a strategic report.

By order of the Board

Peter Calderbank

28 September 2021

Chief Executive and Secretary

The Field Lane Foundation Independent Auditor’s Report to the Directors of The Field Lane Foundation for the year ended 31 March 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE FIELD LANE FOUNDATION

Opinion

We have audited the financial statements of The Field Lane Foundation (the “Foundation”) and its subsidiary (‘the group’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Comprehensive Income, the Consolidated and Foundation Statement of Financial Position, the Consolidated Statement of Cash Flows 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 group’s and the Foundation’s affairs as at 31 March 2021 and of the group’s incoming resources and application of resources, including 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, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing from April 2019.

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 group 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the board's use of the going concern basis of accounting in the preparation 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 Foundation's or the group’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 board with respect to going concern are described in the relevant sections of this report.

The Field Lane Foundation Independent Auditor’s Report to the Directors of The Field Lane Foundation for the year ended 31 March 2021

Independent Auditors Report (continued)

Other information

The Board 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.

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 Report of the Board of Directors, which includes the directors’ report and the strategic 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 strategic report and the directors’ report included within the Report of the Board of Directors 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 group and Foundation and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Report of the Board of Directors.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 or the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; 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 Directors 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 Directors’ report and from the requirement to prepare a strategic report.

Responsibilities of the Board

As explained more fully in the Responsibilities of Board Members statement set out on page 8, the Board (who are also the directors of the Foundation 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 Board are responsible for assessing the Foundation’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 Foundation or to cease operations, or have no realistic alternative but to do so.

The Field Lane Foundation Independent Auditor’s Report to the Directors of The Field Lane Foundation for the year ended 31 March 2021

Independent Auditors Report (continued)

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 Foundation and group 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 Housing SORP. 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 Foundation’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Foundation and the group for fraud. The laws and regulations we considered in this context for the UK operations were requirements imposed by the Regulator of Social Housing and the Care Quality Commission, health and safety, taxation and employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the board 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 and the Finance and General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence, designing audit procedures over the timing of income and reading minutes of meetings of those charged with governance.

The Field Lane Foundation Independent Auditor’s Report to the Directors of The Field Lane Foundation for the year ended 31 March 2021

Independent Auditors Report (continued)

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 noncompliance with all laws and regulations.

Use of our report

This report is made solely to the Foundation’s members, as a body, in accordance with the Housing and Regeneration Act 2008 and Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Foundation’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 Foundation and the Foundation’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Julia Poulter Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 55 Ludgate Hill London EC4M 7JW

28 September 2021

The Field Lane Foundation Consolidated Statement of Comprehensive Income for the year ended 31 March 2021

Note Income Rent and Service Charges Care Fees Grants Field Lane Management Services 6 Donations and Legacies Other Income Total Operating Income Cost of Providing Care and Accommodation 2 Other Operating Costs 2 Operating Surplus / (Deficit) Interest Receivable 4 Interest payable and Bank Charges Surplus / (Deficit)for the Financial Year Transfer Between Funds Remeasurement (Loss)/Gain on Defined Pension Scheme 13 Total Comprehensive Income/(expenditure) for Year Statement of Changes in Funds Total Funds Brought Forward as at 1 April Total Comprehensive Income/(expenditure) for Year Total Funds Carried Forward as at 31 March	2021 2021 2021 2021 2020 2020 2020 £ £ £ £ £ £ Restricted Total Total Total Total Discontinued Continuing Discontinued Continuing - 1,328,765 - 1,328,765 - 1,248,068 1,248,068 194,229 4,469,446 - 4,663,675 691,940 3,927,532 4,619,472 - 572,657 - 572,657 - 267,156 267,156 - 50,570 - 50,570 - 130,609 130,609 - 9,614 126,890 136,504 - 145,040 145,040 - 40,782 - 40,782 - 57,422 57,422 Unrestricted	2021 2021 2021 2021 2020 2020 2020 £ £ £ £ £ £ Restricted Total Total Total Total Discontinued Continuing Discontinued Continuing - 1,328,765 - 1,328,765 - 1,248,068 1,248,068 194,229 4,469,446 - 4,663,675 691,940 3,927,532 4,619,472 - 572,657 - 572,657 - 267,156 267,156 - 50,570 - 50,570 - 130,609 130,609 - 9,614 126,890 136,504 - 145,040 145,040 - 40,782 - 40,782 - 57,422 57,422 Unrestricted
	194,229 6,471,834 126,890 6,792,953 691,940 5,775,827 6,467,767 ( 315,176) ( 5,475,908) - ( 5,791,084) ( 1,198,200) ( 4,663,844) ( 5,862,044) - ( 845,353) ( 52,596) ( 897,949) - ( 1,050,389) ( 1,050,389)
	( 120,947) 150,573 74,294 103,920 (506,260) 61,594 (444,666) - 1,126 - 1,126 - 1,512 1,512 - ( 86,764) - ( 86,764) - ( 87,938) ( 87,938)
	( 120,947) 64,935 74,294 18,282 ( 506,260) ( 24,832) ( 531,092) - 77,793 ( 77,793) - - - - - ( 11,617) - ( 11,617) - 2,622 2,622
	(120,947) 131,111 (3,499) 6,665 (506,260) (22,210) (528,470)
		62,960 3,153,590 3,682,060 ( 3,499) 6,665 ( 528,470) 59,461 3,160,255 3,153,590

All amounts derive from continuing activities unless shown above

The consolidated statement of comprehensive income includes all gains and losses recognised in the period.

The notes on pages 22 to 37 form part of these financial statements.

Approved and authorised for issue by the Board on 28 September 2021 and signed on their behalf by:

Francis Moore Treasurer

Peter Calderbank Chief Executive and Secretary

Company Registration Number: 98226

The Field Lane Foundation Consolidated and Foundation Statement of Financial Position as at 31 March 2021

Note Fixed Assets Housing properties 7 Other Fixed assets 8 Current Assets Debtors 9 Cash and Cash Equivalents Creditors Amounts falling due within one year 10 Net Current Assets Total Assets Less Current Liabilities Creditors Amounts falling due after more than one year 10 Total Net Assets Reserves – Charity Funds Unrestricted Funds Undesignated fund 11 Restricted Funds Use restricted by donor 12 Total Funds	Group 2021 £ 7,518,785 430,651 7,949,436 552,449 318,605 871,054 704,732 166,322 8,115,758 4,955,503 3,160,255 3,100,794 59,461 3,160,255	Group 2020 £ 7,518,894 456,796 7,975,690 588,277 120,173 708,450 675,029 33,421 8,009,111 4,855,521 3,153,590 3,090,630 62,960 3,153,590	Charity 2021 £ 7,518,785 430,651 7,949,436 555,296 311,589 866,885 700,563 166,322 8,115,758 4,955,503 3,160,255 3,100,794 59,461 3,160,255	Charity 2020 £ 7,518,894 456,796 7,975,690 607,103 94,274 701,377 667,956 33,421 8,009,111 4,855,521 3,153,590 3,090,630 62,960 3,153,590

The notes on pages 22 to 37 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 28 September 2021 and signed on their behalf by:

Francis Moore Treasurer

Peter Calderbank Chief Executive and Secretary

Company Registration Number: 98226

Field Lane Foundation Consolidated Statement of Cash Flows for the year ended 31 March 2021

Cash flows from operating activities Surplus/(Deficit) for the financial year Depreciation of Fixed Assets - Housing Properties Depreciation of Fixed Assets - Other Disposal of Assets Impairment of Fixed assets Interest payable on housing loans Decrease in Debtors (Decrease) in Creditors Actuarial gain on defined pension scheme Interest receivable Net cash generated by operating activities Cash flows from investing activities Interest received Purchase of fixed assets – Housing Properties Purchases of fixed assets – Other Net cash used from investing activities Cash flows from financing activities Interest paid New Loans Repayment of Loans Net cash generated by/used in financing activities Net Increase/(Decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	Note 7 8 7,8 7,8 9 10 13 4 7 8 10 10		2021 £ 18,282 220,369 83,421 9,900 - 86,764 35,828 (75,108) (11,617) (1,126) 366,713 1,126 (220,260) (67,176) (286,310) (86,764) 350,000 (145,205) 118,031 198,432 120,173 318,605		2020 £ (531,092) 143,829 73,065 - 301,339 87,938 286,837 (97,211) 2,621 (1,512) 265,814 1,512 (463,100) (134,352) (595,940) (87,939) - (113,770) (201,709) (531,834) 652,008 120,173

The notes on pages 22 to 37 form part of these financial statements.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a) Accounting convention

The financial statements are prepared under the historical cost convention and comply with the Financial Reporting Standard 102 (FRS102), the Accounting Direction for Private Registered Providers of Social Housing in England, “Accounting by Registered providers of Social Housing” 2019, the Statement of Recommended Practice (the housing SORP 2018), the Charities Act 2011 and the Companies Act 2006. The Field Lane Foundation is a Public Benefit Entity as defined by FRS102.

b) Fund accounting

Unrestricted funds - these are funds which can be used in accordance with the organisation’s charitable objects at the discretion of the Trustees.

Restricted funds - these are funds received for undertaking an activity specified by the donor.

c) Housing properties and depreciation

Housing properties are stated at cost. Under the Housing SORP 2018, housing properties have been split between their land and structure costs and a specific set of major components which require periodic replacement. Refurbishment or replacement of such components is capitalised and depreciated over the estimated useful life of the component (excluding land) as follows:

Component	Useful Economic Life inyears
Land	N/A
Main Fabric	100
Roof Structure and Covering	70
Electrics	40
Windows and External Doors	30
Bathroom/WCs	30
Mechanical Systems	30
Kitchen	20
Lift	20
Gas Boilers/Fires	15

Land is not depreciated and is reviewed periodically for impairment.

Other fixed assets are depreciated as follows:

Furniture, fixtures and fittings - 10% on a straight line basis Computer equipment - 33% on a straight line basis

Capital items having a cost of less than £1,000 are immediately expensed in the consolidated statement of Comprehensive Income.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

d) Income

Income in respect of rents is accounted for when due. Income for fees and grants are accounted for when receivable. Voluntary income is recognised in the period in which the Foundation is entitled to receipt and the amount can be measured with reasonable probability. In the case of legacies and bequests entitlement is taken to be confirmed by grant of probate over the estate of the donor. Probability of receipt is judged on a combination of the granting of probate and knowledge of the valuation of the net estate. The amount to be received is assessed based on probate and the valuation of the estate.

In preparing these accounts no value has been attributed to the work performed by volunteers, although their work is considered vital to the activities of the charity.

e) Expenditure

All expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts.

Charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure therefore include support costs and an apportionment of the overheads, as shown in note 2.

Support costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

f) Grants

Government grants are paid by the Regulator of Social Housing to subsidise the cost of housing properties. Grants are accounted for using the accrual model set out in FRS 102 and the housing SORP. Grants are recognised as deferred income in the consolidated statement of financial position and released to the comprehensive income statement on a systematic basis over the useful economic lives of the assets, allocated against the fabric of the building. Non-government grants have been accounted for using a performance model as required by housing SORP.

g) Leases

Rentals payable under operating leases are dealt with on a straight-line basis over the lease term. Operating lease commitments are disclosed in note 14.

h) Allocation of overhead and support costs

Overhead and support costs have been allocated between Charitable Activities and Governance Costs. Costs which are not wholly attributable to an expenditure category have been apportioned. The analysis of support costs and bases of apportionment applied are shown in note 2.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

i) Pensions

Field Lane participates in a multi-employer scheme; The Growth Plan which is a defined benefit pension scheme. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

For the defined benefit scheme, the present value of the contractual payment to the past pension deficit is recognised as a liability on the consolidated Statement of Financial Position which is unwound yearly with the unwinding effect charged to the Statement of Comprehensive Income as a pension interest.

j) Taxation

The taxable profit of the subsidiary undertaking Field Lane Management Services Limited is eliminated by a gift aided donation in favour of the charity which is not liable to taxation due to its charitable status. No provision is made for taxation as Field Lane is a charity entitled to the various exemptions afforded by the Corporation Tax Act 2010. All income generated is free from tax.

k) Basis of consolidation

The consolidated financial statements incorporate Field Lane and its wholly owned subsidiary undertaking, Field Lane Management Services Limited, for the year ended 31[st] March 2021. Intra-group transactions are eliminated on consolidation. The parent charity has taken advantage of the exemption from presenting an entity income and expenditure account in accordance with Section 408 of the Companies Act 2006. The net result of the charity for the year was a surplus of £18,282. Field Lane Management Services Limited is above the threshold for the requirement for an audit, as set out in the Companies Act 2006 for private limited companies. The charity has not prepared a parent Statement of Comprehensive Income as permitted by FRS102; the results of Field Lane Management Services Limited can be found in Note 6.

l) Going Concern

These accounts have been prepared on a Going Concern Basis.

As a business Field Lane has not been materially financially affected by COVID. We have secure revenue streams as most of our income derives from local authorities. Further, as our expenditure on PPE has increased we have had additional funding from the local authorities and our donors to cover the extra costs.

Going forward the Foundation will be able to benefit from the strategic decision to exit the care home sector. In the past year this has had a negative impact on our cashflow.

We have modelled out the cashflow for the twelve months from the date of signing these accounts and this analysis shows an improving cash balance. Further we have renewed our overdraft facility and drawn down a proportion of our loan facility to provide us with an extra buffer.

Finally our business model has a large proportion of costs that are directly correlated with income. To the extent our income falls our need to provide and pay for care support staff will also fall.

Taken as a whole the Board believes that there is no material uncertainty in the Financial Statements.

m) Provisions

Field Lane provides for legal or contractual liabilities and obligations which existed at the 31 March 2021.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

n) Liabilities

Liabilities are recognised when Field Lane has an absolute obligation to make payment to a third party.

o) Financial Instruments

Financial assets and liabilities are recognised when the group becomes a party to the contractual provisions of the instrument. Financial liabilities are classified according to the substance of the contractual arrangements entered into.

p) Key judgement and estimation of uncertainty

In preparing these financial statements, key judgements have been made in respect of the following:

Whether there are indicators of impairment of the housing assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. In the prior financial year we have impaired the value of the care home asset, Badgers. This care home was finally transferred to the new owner in August 2020, however we have retained the freehold for which there is a low value.
Fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.
For housing property assets, the assets are broken down into components based on management’s assessment of the properties. Individual useful economic lives are assigned to these components.
The estimate for receivables relates to the recoverability of the balances outstanding at the year end. A review is performed on an individual basis to consider whether each debt is recoverable.

2 Particulars of income, direct costs, operating costs and operating surplus

Operating (Deficit) /surplus

Particulars of turnover, cost of sales,operating costs and operating surplus

Social housing activities: Rents and Service Charges Activities other than social housing: Care Fees Local Authority Grants Other Grants Donations and Legacies Income from Field Lane Management Service Management Services Other Operating Surplus/(Deficit)	Turnover Cost of Sales Operating Costs Operating Surplus Operating (Deficit) 2021 2020 £ £ £ £ £ 1,328,765 (911,114) - 417,651 304,558 4,663,675 (4,879,970) - (216,295) (299,061) 459,365 - - 459,365 211,972 113,292 - - 113,292 55,184 136,504 - (52,596) 83,908 130,671 50,570 - (223) 50,347 125,677 - - (845,130) (845,130) (729,750) 40,782 - - 40,782 (243,917)
	6,792,953 (5,791,084) (897,949) 103,920 (444,666)

Social housing activities:
Rents and Service Charges
Activities other than social housing:
Care Fees
Local Authority Grants
Other Grants
Donations and Legacies
Income from Field Lane Management Service
Management Services
Other
Operating Surplus/(Deficit)

Turnover
Cost of Sales
Operating Costs
Operating
Surplus
Operating
(Deficit)
2021
2020
£
£
£
£
£
1,328,765
(911,114)
-
417,651
304,558
4,663,675
(4,879,970)
-
(216,295)
(299,061)
459,365
-
-
459,365
211,972
113,292
-
-
113,292
55,184
136,504
-
(52,596)
83,908
130,671
50,570
-
(223)
50,347
125,677
-
-
(845,130)
(845,130)
(729,750)
40,782
-
-
40,782
(243,917)

6,792,953
(5,791,084)
(897,949)
103,920
(444,666)

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

2 Cost of providing care and accommodation and other operating costs

Operating Surplus/ (deficit)

Income Rent net of identifiable Service Charges Service Charge Income Care Fees Local Authority Grants Other Grants Field Lane Management Services Donations and Legacies Other Income Turnover from Supported living Cost of providing care and accomodation Wages and Salaries Social Security Costs Other Pension Costs Agency Staff, Recruitment and Training Travel and Activities Medical Supplies Rent Repairs, Maintenance and Cleaning Utilities, Council Tax and Insurance Telephone, Internet etc Marketing and Communications Auditors Remuneration Legal and Professional Depreciation Housing Depreciation Other Other Costs Restricted Fund Expenditure Surplus / (Deficit)	2021 2020 Supported Living Sheltered Housing Homeless Support Support services Total Total £ £ £ £ £ £ 515,404 92,702 335,728 - 943,834 759,448 200,243 46,568 138,121 - 384,932 488,620 4,662,962 712 - - 4,663,674 4,619,472 247,393 - 211,972 - 459,365 211,972 - 2,050 111,242 - 113,292 55,184 - - - 50,570 50,570 130,609 - - - 136,504 136,504 145,040 28,535 - - 12,247 40,782 57,422
	5,654,537 142,032 797,063 199,321 6,792,953 6,467,767 Supported Living Sheltered Housing Homeless Support Support services Total Total 2021 2020 £ £ £ £ £ £ 3,649,730 58,590 164,932 340,695 4,213,947 4,575,187 290,313 3,421 13,249 90,987 397,970 362,811 95,136 332 2,982 0 98,450 100,413 185,477 0 113,914 78,622 378,013 122,282 127,140 0 4,988 9,196 141,323 185,627 81,605 174 3,548 33 85,360 16,532 70,911 0 61,833 102,854 235,599 213,641 154,417 30,765 48,167 1,079 234,428 274,185 110,791 25,299 39,472 8,233 183,795 182,220 69,309 1,228 13,902 59,499 143,938 75,298 - - - 38,570 38,570 50,708 - - - 17,019 17,019 18,360 57,305 1,387 3,847 33,058 95,596 114,379 90,721 12,625 117,022 - 220,368 143,829 36,884 10,180 21,389 14,970 83,424 73,065 17,047 171 882 50,537 68,638 403,896 39,679 - 12,917 - 52,596 -
	5,076,464 144,172 623,044 845,354 6,689,033 6,912,433
	578,073 (2,140) 174,019 (646,033) 103,920 (444,666)

The 2020 Wages and Salaries amount included some agency and other staff related costs, these have been shown separately in 2021.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

3 Surplus/(Deficit) for the financial year This is stated after charging: Operating leases Depreciation Auditors’ remuneration: Audit	2021 £ 235,599 303,790 15,500	2020 £ 116,963 217,190 15,300

The charity incurred voids with an estimated opportunity cost of £72,879 (2020: £99,800) and no bad debts in respect of sheltered housing during the year. Rents of £1,328,765 (2020: £1,249,068) included £384,932 (2020: £488,620) for service charges.

4 Interest receivable Deposit account interest 5 Staff costs The total staff costs during the year were: Wages and salaries Social security costs Other pension costs Agency and temporary staff costs The average number of staff employed during the year was: Homes and Centres Central Office The average number of full-time equivalent employees during the year was: Total	2021 2020 £ £ 1,126 1,512 1,126 1,512 2021 2020 £ £ 4,213,947 4,164,089 397,970 362,811 98,450 100,413 282,547 411,098 4,992,914 5,038,411 2021 2020 188 227 8 8 196 235 167 194	2021 2020 £ £ 1,126 1,512 1,126 1,512 2021 2020 £ £ 4,213,947 4,164,089 397,970 362,811 98,450 100,413 282,547 411,098 4,992,914 5,038,411 2021 2020 188 227 8 8 196 235 167 194

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

5 Staff costs (continued)

The Board members are trustees of the charity and as such are ineligible for remuneration. Expenses reimbursed to the Board members amounted to £Nil (2020: £Nil).

	2021	2020
	£	£
Senior management team executives aggregated emoluments
including pension contributions were:	168,503	167,292

Pension contributions of £4,048 (2020: £3,528) were made into a defined contribution scheme.

The emoluments receivable by the highest paid Senior Executive excluding pension contributions were:	2021 £ 93,634	2020 £ 92,250

Pension contributions of £2,809 (2020: £2,767) were also made into a defined contribution scheme.

The highest paid Senior Executive is an ordinary member of the scheme described in the accounting policies. In addition to the highest paid senior executive there was one employee (2020: one) who received between £70,000 and £80,000 in remuneration.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

6 Field Lane Management Services Limited

The charity has a wholly-owned trading subsidiary undertaking, Field Lane Management Services Limited, a company incorporated and registered in England. The principal activity of this company is the raising of funds for the charity through management services and all its profits are paid to the charity. The charity owns the entire issued share capital of 1 ordinary shares of £1 each. This is the eighth year of operation of the company. There are no other related party transactions other than those disclosed in this note. A summary of the results is shown below:

Profit and Loss Account Income Gross profit Administration expenses Donations to Field Lane Foundation Profit on ordinary activities after donation and taxation Balance Sheet Current assets Creditors: amounts falling due within one year Amount due to Field Lane Foundation Other creditors Total assets less current liabilities Called up share capital Retained profit and loss account Shareholders' funds	2021 Total £ 50,570 50,570 223 50,347 - 2021 Total 24,516 20,347 4,168 1 1 - 1	2020 Total £ 130,609 130,609 4,931 125,678 - 2020 Total 34,233 27,161 7,071 1 1 - 1

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

7 Tangible fixed assets

Freehold and Leasehold housing properties

Freehold and Leasehold housing properties
Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Sheltered Accommodation £ 819,080 65,870 884,950 191,737 12,625 204,362 680,588 627,343	Support Activities £ 7,900,734 154,390 8,055,124 1,009,183 207,744 1,216,927 6,838,197 6,891,551	Total £ 8,719,814 220,260 8,940,074 1,200,920 220,369 1,421,289 7,518,785 7,518,894

The additions shown above, totalling £220,260 (2020: £463,100), includes £168,571 (2020: £326,159) that relates to new components while the remainder £51,689 (2020: £135,941) is for the replacement of existing components.

On average there were 18 (2020:18) units of sheltered housing accommodation, 4 units (2020:12) registered care beds and 76 units (2020:73) of supported housing during the year.

A number of these properties provide securities for the loans set out in note 10.

Housing properties at net book value are comprised of: Freehold Short leaseholds < 50 yrs	2021 £ 5,678,106 1,840,679 7,518,785	2020 £ 5,577,977 1,940,917 7,518,894

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

8 Tangible fixed assets – Other

Cost At April 2020 Additions Disposal At 31 March 2021 Depreciation At April 2020 Charge for the year Disposal At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 Debtors Amounts owed by group undertakings Arrears of local authority and residents’ contributions Other debtors Prepayments and accrued income	Furniture, fixtures and fittings £ 979,092 67,176 (10,606) 1,035,662 522,296 83,421 (706) 605,011 430,651 456,796 Group Group 2021 2020 £ £ - - 422,136 481,350 17,950 23,518 112,363 83,409 552,449 588,277	Charity 2021 £ 20,347 422,136 450 112,363 555,296	Charity 2020 £ 27,159 481,350 15,185 83,409 607,103

9 Debtors

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

10 Creditors

Amounts falling due within one year Trade creditors Taxation and social security Capitalised lease premium Social housing grants Bank loan and overdraft Accruals and deferred income Pension Liability Other creditors	Group 2021 £ 127,441 87,512 26,332 86,961 103,184 160,718 105,910 6,674 704,732	Group 2020 £ 102,456 99,138 24,942 28,605 208,895 1,961 44,647 164,385 675,029	Charity 2021 £ 127,441 87,512 26,332 86,961 103,184 160,718 105,910 2,505 700,563	Charity 2020 £ 95,384 99,138 24,942 28,605 208,895 1,961 44,647 164,384 667,956

The average time taken to pay trade creditors over the year was 26 days (2020:37)

The pension liability of £105,910 shown above for the year ended 31 March 2021 is comprised of pension contributions payable of £58,346 and the deficit contribution payable in the year ended 31 March 2022 of £47,564.

Amounts falling due after more than one year Housing loans CAF Bank (2.25% + Bank of England base rate) Capitalised lease premium Social housing grants Pensions Liability – Deficit Contribution Balance carried forward Amounts owed on housing properties repayable: Term Loans In one year or less (included in current liabilities) Between one and two years Between two and five years In more than five years	Group 2021 £ 3,084,307 3,084,307 315,984 1,414,820 140,392 4,955,503	Group Charity Charity 2020 2021 2020 £ £ £ 2,773,800 3,084,307 2,773,800 2,773,800 3,084,307 2,773,800 343,716 315,984 343,716 1,560,136 1,414,820 1,560,136 177,869 140,392 177,869 4,855,521 4,955,503 4,855,521 2021 2020 £ £ 103,184 118,270 103,184 155,933 226,107 378,652 2,755,016 2,238,810 3,187,491 2,891,665

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

10 Creditors (continued)

The loan from CAF Bank is secured on properties at Sheridan Road, Westmead Drive, Wood Street, Ailsa Road, Leigh Road and Ashdown Close. The rate of interest applicable to the loan is fixed at 2.25% + Bank of England base rate. The repayment period is over 25 years and calculated on a 25 year capital and interest repayment basis.

A grant of £696,747 was received in 2004/5 from the HCA (capitalised lease premium) which is designed to partly offset the quarterly lease payments for Andrew Provan House over the period of the lease (29 years) and its use is restricted to that purpose. This money, including accrued interest, is treated as deferred income and included under creditors. A proportion of the fund is transferred to the Income and Expenditure Account and included under income to offset rent payable (included in operating costs) in the period £26,432.

11 Undesignated funds	2021	2020
	£	£
Balance brought forward	3,090,630	3,639,340
Retained (loss) for year	(67,629)	(590,880)
Transfer from restricted and endowment funds	77,793	42,170
Balance carried forward	3,100,794	3,090,630

12 Restricted funds

Use restricted by donor

Amenities Funds £ Balance brought forward as at 1 April 2020 10,630 Income Received - Expenditure (10,630) Transfer to Undesignated Funds - Balance carried forward 31 March 2021 -	Special Purpose Funds £ 48,990 126,890 (41,966) (77,793) 56,121	Spinks Bequest Fund £ 3,340 - - - 3,340	Total £ 62,960 126,890 (52,596) (77,793) 59,461

The Amenities Funds, represent the balance of unspent donations and fundraising, usually locally raised, relating to specific projects. They include the funds held by individual affiliated Friends Groups. Residents, Centre Users and staff are actively involved in deciding how these funds should be spent.

The Special Purposes Fund represents the balance of unspent donations, fundraising and grants received through Central Office, and relating strictly to specific purposes or activities in accordance with donors’ wishes.

The Spinks Bequest Fund is for the assistance of people moving into Field Lane accommodation who are unable to meet the associated costs and may therefore be prevented from benefiting from the accommodation.

Transfer to Undesignated funds relates to those assets that have been purchased from restricted fund donations, but are now held for a general and not a restricted purpose.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

13 Pension costs

Scheme: The Pensions Trust Retirement Solutions – The Growth Plan

The charity participates in the scheme, a multi-employer scheme which provides benefits to some 950 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

£11,243,000 per annum (payable monthly and From 1 April 2019 to 31 January 2025: increasing by 3% each on 1st April)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

£12,945,440 per annum (payable monthly and From 1 April 2016 to 30 September 2025: increasing by 3% each on 1st April) £54,560 per annum (payable monthly and From 1 April 2016 to 30 September 2028: increasing by 3% each on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

13 Pension costs (continued)

	2021	2021	2020	2019
	(£000s)		(£000s)	(£000s)
Present value of provision		188	222	270
Reconciliation of Opening and Closing Provisions
		Year ended		Year ended
			2021	2020
			(£000s)	(£000s)
Provision at start of period			222	270
Unwinding of the discount factor (interest expensed)			5	3
Deficit contribution paid			(46)	(45)
Remeasurements – Impact of any change in assumptions			7	(6)
Remeasurements – amendments to the contribution	schedule		-	-
Provision at the end of period			188	222
Income and Expenditure Impact
		Year ended		Year ended
			2021	2020
			(£000s)	(£000s)
Interest expense			5	3
Remeasurements – Impact of any change in assumptions			7	(6)
Loss/(Gain) on remeasurement of defined benefit pension
scheme			12	(3)
Assumptions
	2021		2020	2019
	% per annum	%	per annum	% per annum
Rate of discount	0.66		2.53	1.39

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

13 Pension costs (continued)

The following schedule details the deficit contributions agreed between the company and the scheme at each year end period:

ach year end period:
Deficit Contributions schedule
	2021	2020	2019
Year Ending	(£000s)	(£000s)	(£000s)
Year 1	48	46	45
Year 2	49	47	46
Year 3	50	49	48
Year 4	43	50	49
Year 5	-	43	50
Year 6	-	-	43

The charity must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the charity’s balance sheet liability.

14 Operating lease commitments

The charity had minimum lease payments under non-cancellable operating leases expiring as set out below:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	2021 £ 151,236 486,723 969,548 1,607,507	2020 £ 116,963 467,852 2,186,873	2020
		2,771,688

15 Related Party Transactions

There were no material transactions with related parties during the year (2020:Nil).

The Field Lane Foundation Notes and Accounting Policies for the year ended 31 March 2021

16 Net debt

16 Net debt
Cash and cash equivalents Bank Overdrafts Debt due within one year Debt due after one year Total	2020 Cashflow Non Cash Movement 2021 £ £ £ £ 120,173 198,432 - 318,605
	(91,030) - 91,030 - (117,865) 145,204 (130,523) (103,184) (2,773,800) (350,000) 39,493 (3,084,307)
	(2,862,522) (6,364) - (2,868,886)