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2022-03-31-accounts

The Together Trust (A Company Limited by Guarantee) Charity Number 209782 Company Registration Number 00301722

About the Together Trust

We are one of the North West’s leading disability charities. We help children, adults, parents, and carers, delivering individual care, support and education to thousands of people each year.

For over 150 years, we have been championing and caring for people with disabilities, autism, and complex health needs. And providing life-changing support for looked-after children and care-experienced people.

Our mission

We are the Together Trust. We’re here to champion the rights, needs and ambitions of the people we support – they are at the heart of everything we do. We stand by them, and we work together for change.

Our vision

A society where everyone thrives because they are valued within their communities.

Our values

We will always strive to be:

Positive

We take pride in celebrating the difference we make.

We act in a fair and respectable way that recognises our collective expertise.

Passionate

We encourage creative ideas and inspire one another.

Supportive

We are considerate and caring towards one another.

Contents

Contents
Page
Trustees’ Annual Report
1. Reference and administrative information 1
2. Chair’s introduction 2
3. Charitable objectives, structure, and management 3
4. Corporate governance 3
5. Section 172 statement 7
6. Strategic achievements and performance 12
7. Financial review 18
8. Future strategy 22
9. Principal risk and uncertainties 23
10. Statement of Trustees’ responsibilities 24
Balance sheet 29
Cash flow statement 30
Notes to the financial statements 31

Registered Charity Number 209872

1. Reference and administrative information

Board of Trustees (Non-executive)

Chair Giles Gaddum

Vice Chair Lynne Ridsdale

Lead Honorary Treasurer Anthony Farnworth

Assistant Honorary Treasurer Ian Johnson

Geoff Durbin Marcell Edwards Norah Flood David Freeston Maria Greenwood Jane Grime Roger Horne Kirsteen Hughes Simon Lees-Jones Nick Lowry Gani Martins Tristan Morris Lyndsey Stark Helen Stevenson Jane Walapu

Trust Leadership Team (Executive)

Chief Executive Mark Lee

Resource Director Brian White

Service Director Jill Sheldrake MBE

Governance & External Affairs Director Julie Isted

Principal Professional Advisers

Bankers

Barclays Bank PLC 3 Hardman Street Spinningfields Manchester M3 3HF

Investment Managers Brewin Dolphin Limited 1 The Avenue Spinningfields Square Manchester M3 3AP

Legal Advisers Trowers & Hamlins LLP 55 Princess Street Manchester M2 4EW

Auditor

Deloitte LLP The Hanover Building Corporation Street Manchester M4 4AH

HR & Health & Safety Advisers

Royal Society for the Prevention of Accidents (RoSPA) RoSPA House Edgbaston Park 353 Bristol Road Birmingham B5 7ST

President

Brian Chesworth OBE

_ _

Registered Office Together Trust Centre Schools Hill Cheadle Cheshire SK8 1JE

0161 283 4848 enquiries@togethertrust.org.uk www.togethertrust.org.uk

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Registered Charity Number 209872

2. Chair’s introduction

On behalf of the Trustees of the Together Trust, who are also Directors of the company for the purposes of the Companies Act 2006, I am pleased to present our annual report for the Together Trust, our progress towards the goals in our Stronger Together Strategic Plan (the Strategic Report), the financial statements and auditor’s report for the year ended 31 March 2022. This can be read in conjunction with the Together Trust’s Annual Review 2021/22.

Our vision is a society where everyone thrives because they are valued within their communities. The Trust is deeply rooted in its values and aspires to be person-centred in all its plans, practices and behaviours. The complex needs of our beneficiaries mean that the people we support do not often benefit from generic, off-the-shelf solutions but require specialist support that is tailored to their needs. Although during the early stages of 2021/22, the coronavirus pandemic continued to have a significant impact on some of the operations of the Trust, I am pleased to report that the Charity has successfully managed its risks to date, to ensure that we are able to continue to support the people who need our services in a financially sustainable manner.

Today our care, special education, community, and clinical services support over 2,900 children, adults, and families each year. To do this our team of over 800 people, at dozens of sites, put the rights, needs and ambitions of the people we support at the heart of all that they do. We work for the Together Trust because we are passionate about improving the lives of people with disabilities, autism, mental health needs, care leavers and their families.

I am immensely proud of our achievements this year and on behalf of our Board, I would like to extend my heartfelt thanks to our workforce for their dedication and loyalty. More than ever, the essential support our staff, volunteers and donors provide enables our services to adapt and evolve to meet the lifelong changing needs of people and families.

Giles Gaddum Chair of Trustees

As part of our 150[th] anniversary celebrations, we unveiled a heritage plaque in July 2021, to mark our very first home – the Night Refuge for Homeless Boys – at 16 Quay Street in Manchester.

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3. Charitable objectives, structure, and management

The Together Trust (“the Charity” or “the Company”) is a registered Charity and a company limited by guarantee, which is governed by Articles of Association, last amended on 29 November 2019. The Together Trust serves children, young people, adults, and families whose special needs fall within the areas of emotional, behavioural and social difficulties, physical disabilities, learning disabilities and autism.

The Charity’s objects are:

The Charity’s work reflects the main themes and ideas within Department for Education plans and the direction of current and future adult social care and health provision. The majority of the Trust’s services are based in the North West of England and surrounding areas however, the Charity accepts referrals from all parts of the UK.

The Trust’s Leadership Team (Executive) – Key Management

The Chief Executive is assisted in the day-to-day management of the Charity by three Operational Directors, listed on page 1, who each have responsibility for an area of its activities, resources, performance, and operations.

Statutory and Regulatory

The Together Trust’s subsidiaries, as listed in note 15 to the financial statements, have not traded during the year, have no income and bore no expenditure.

4. Corporate governance

Governance handbooks for Members, Trustees and Governors support the Charity Articles by setting out the policies, procedures and practices the Board and our Governing Bodies will adopt in the fulfilment of their responsibility for the activities of the Trust.

Members

We seek to secure future governance responsibilities by an active subgroup that reports to the Board which is responsible for recruiting new Members of the Charity who may contribute to governance activity in different ways.

The Together Trust is a private company limited by guarantee and currently has 45 registered Members. The interests of the Trust and its Members are aligned with the common purpose of carrying out the objects of the Charity.

The Together Trust holds an AGM every 12 months, which all Members are entitled to attend either personally or by proxy. Corporate Members are entitled to attend general meetings by their authorised representatives. At the time of reporting, the Company has no Corporate Members.

At the time of reporting the Board is considering whether Membership should be reviewed and is taking legal advice in this respect.

There are Conflicts of Interest and Gift in Kind policies in place for Members, Trustees and Governors to manage any actual and perceived conflicts that might arise.

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The Board of Trustees (Non-executive)

The Together Trust is shaping a strategic plan to 2025/26, known as ‘Stronger Together’, to deliver even greater impact for the people and families we support. Our Trustees and Governors have a key role in shaping and influencing this plan. We are also on a journey to improve equality, diversity and inclusion across our governance and leadership structure, our workforce, and our services.

Our plan builds on both existing expertise and commits to new ways of improving how the Charity works. More information about this can be found in Section 8 of this report.

At the time of reporting, a review of governance/regulatory standings for Together Trust education and vocational service delivery is underway as the Trust considers future development to cope with increasing demand for its services.

We believe we will deliver long lasting social impact when our Board and leadership teams better reflect the community of people and families the Trust serves. Improving Board diversity is crucial for us in terms of our values as an organisation. It means we are more effective, make better decisions and is key to effective delivery of our mission.

Twenty-three Trustees served during the financial year from 1 April 2021 to 31 March 2022. The Board embarked on a significant recruitment campaign for Trustees with new skills or lived experience in 2021 and we were able to successfully appoint Jakeb Braden, Geoff Durbin, Marcel Edwards, Jane Grime, Rachel Jones, Gani Martins, Simon Lees-Jones, Nick Lowry, Lyndsey Stark and Jane Walapu during the year.

The following Trustees served during the year: Roger Bagguley (retired 26 Nov 2021) Jakeb Braden (appointed 7 Oct 2021; deceased 12 Nov 2021) Geoff Durbin (appointed 14 Dec 2021) Marcell Edwards (appointed 22 Feb 2022) Anthony Farnworth James Flood (retired 7 Oct 2021) Norah Flood David Freeston Giles Gaddum Maria Greenwood Jane Grime (appointed 7 Oct 2021)

Roger Horne Kirsteen Hughes Ian Johnson

Rachel Jones (appointed 7 Oct 2021; Retired 19 Feb 2022) Simon Lees-Jones (appointed 25 Jan 2022) Nick Lowry (appointed 14 Dec 2021) Gani Martins (appointed 7 Oct 2021) Tristan Morris Lynne Ridsdale Lyndsey Stark (appointed 7 Oct 2021) Helen Stevenson

Jane Walapu (appointed 25 Jan 2022)

Giles Gaddum was formally appointed as Chair of Trustees in November 2021, having served as Acting Chair from April 2021.

The Trustees would like to pay tribute to Jakeb Braden who cared deeply about the physical and mental health issues that many care-experienced people of all ages face. It was tragic that he passed away after a short illness in 2021. His lived experience would have been a huge asset to our Board.

The Board would also like to thank Roger Bagguley, Jim Flood and Rachel Jones for their service as Trustees. All 3 Trustees ended their trusteeships during the reporting period. Roger retired after many years’ service and made a long-standing impact at both Ashcroft School and Inscape House School where he served as a governor for many years.

The Board holds responsibility for agreeing the strategic direction of the organisation, setting the budgetary framework, and deciding upon major undertakings. Responsibility for the day-to-day operation of the Charity is delegated to the Chief Executive. The Chief Executive reports fully to the Trustees at each Board meeting and to the Chair on a regular basis. This allows the Board to monitor progress in a well informed and incremental manner and to agree any strategic or budgetary adjustments which may become necessary in the year.

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Groups that report to the Board

The Trust aims to ensure the Charity’s values are reflected in all our work and that the ethos and the culture of the organisation underpin the delivery of all activities. Our special purpose subgroups and school and college governing bodies[1 ] meet regularly to undertake specific tasks on which they report to the Board to assist its function, decision-making and continued improvement.

School and College Governing Bodies – Each governing body has its own constitution approved by the Board. The Board appoints Trustees to be the Chair and Vice Chair of each governing body.

Trustees who served as a Chair to a Trust education governing body during the reporting period were:-

Ashcroft School – Anthony Farnworth (November 2021 to present), Roger Bagguley (retired November 2021) Bridge College – Roger Horne Inscape House School - Giles Gaddum

The Together Trust Fostering Panel - the panel is made up of people with a range of skills, knowledge and experience and includes staff members from the Together Trust fostering agency. Some panel members have a professional background in child or social care, and others have direct experience with the fostering process. Our panel members also have access to legal and medical advice should they need it as well as each other’s skills and expertise.

The panel considers fostering applications and makes recommendations about the suitability of applicants. This also includes making recommendations about the number, age range and backgrounds of the children placed with Together Trust foster carers.

Board Subgroups

The Board maintains several Trustee-led, special purpose subgroups that undertake specific tasks which contribute to the Charity’s governance and operation to meet the aims within the ‘Stronger Together’ plan.

During the year, the Board undertook a comprehensive review of its subgroups to ensure their terms of authority and reference were in line with the Charity’s new plans. The Board approved revisions to strategic theme responsibilities for each subgroup in May 2022. All subgroups monitor and evaluate relevant KPIs to help drive continuous improvement with focused plans to address areas requiring improvement. The revised subgroup terms also now ensure each area of activity supports the Trust’s commitment to social value and improved equity, diversity and inclusion for governance, the workforce, and the people the Charity supports.

Each subgroup receives updates on performance, evaluation, and risk in core areas of operational and infrastructure services at the Charity. The terms for each subgroup reflect the Charity Governance Code.

The Board receives reports, including KPI RAG rated performance from each subgroup in line with the organisation’s planning and performance management cycle.

Governance Subgroup – the subgroup meets quarterly to assist the Board to oversee the methods by which the Board, subgroups and governing bodies monitor and share progress to ensure supportive, effective, and inclusive governance. The group is assisted by the EDI Governance Steering Group to ensure the recruitment of Members, Trustees and Governors, their training, responsibilities and the proper arrangements of supervision and appraisal (where relevant) are in place and follow best practice.

The Trust aims to create an environment where divergent views are welcomed, and individuals feel confident sharing their ideas. To achieve this, trust and mutual respect is essential - both between Board members and between the Trustees and the Executive Team and wider workforce.

Refer to Instruments & Articles of Inscape House School, Ashcroft School and Bridge College as laid out in governance handbooks for educational services.

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The EDI Governance Steering Subgroup reports to the Governance Subgroup and oversees the strategic approach to building a more equitable and diverse organisational governance culture, ensuring equality, diversity and inclusion (EDI) principles are embedded to help deliver the best possible outcomes for the people we support. The group was formed in 2021 to assist Trustee and Governor understanding of systems and culture at the Together Trust. Following successful recruitment of Trustees with EDI expertise in 2021/22, they will be setting context- specific and realistic goals, taking action and monitoring EDI governance performance in the future.

Supporting People Subgroup – the subgroup meets six times a year to ensure the Together Trust is aligned to the needs of the people it supports and commissioners. It also reviews how the Charity continuously improves and addresses the needs of the people who use its services. The group monitors and evaluates all relevant quality improvement and most regulatory activity in services. It oversees participation, co-production and customer engagement, aiming to create accessible and regular programmes of effective communication, impact and social value reporting to our external stakeholders. It oversees campaigns, advocacy and participation and external accreditation of customer relationship standards, including Investor in Customers, ensuring results are acted upon effectively.

The subgroup also ensures that the Charity’s complaints policy is transparent, well-publicised and effective, and that complaints are handled constructively, impartially and dealt with following a preagreed timeline.

Finance and Audit Subgroup – the subgroup meets six times a year to inform the Honorary Treasurers and the Chair of Trustees of the financial position and performance of the Charity and the operational detail behind the management accounts that are presented at each Board meeting. It oversees the annual budget process and any special issues with financial implications that are to be reported to the Board.

The subgroup also reviews funding strategy, growth plans and matters in respect of the Charity’s pension schemes. It ensures that third party partners and suppliers are procured in line with policy and the Trust conducts its business in a commercially responsible way to achieve maximum positive impact for communities, people and the environment.

Human Resources and Organisational Development

Subgroup – the subgroup meets regularly to ensure that the Trust is able to attract, retain, and motivate the highest calibre of staff to deliver value for money for the Charity’s beneficiaries in line with strategic objectives and financial parameters. The subgroup assists the Board to oversee the approach to an effective People Strategy including fair pay and reward.

Staff member, Ian Riley clocked up an amazing 30 years of service with the Together Trust in 2022.

The group ensures our staff have clear learning and development opportunities and supports staff with the day-to-day challenges they face, in work and outside. We know that the Trust can be a challenging working environment and resilience is important for us all. The group ensures effective staff engagement and that the outcomes from staff surveys are received and acted upon.

Ian said “It doesn’t feel like 30 years at all – the time has gone so quickly, and I feel like I have had many different jobs during this time - all as part of the Together Trust! … The Trust has given me all the training, qualifications and support necessary to do my job, and I always tell people that if you are hard-working, there will always be opportunities”.

The group oversees the Charity’s approach to workforce equality, diversity and inclusion, effective engagement with and development of the Staff Council and ensures safer recruitment procedures operate effectively.

The subgroup also ensures that the Charity can attract, retain and motivate high levels of volunteers and oversees external accreditation of HR/training-related standards including Investors in People.

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Safeguarding Scrutiny Subgroup – the subgroup has lead responsibility for effective governance of safeguarding at the Trust. This is achieved by scrutiny of operational actions and quality assurance of safeguarding standards and processes at the Charity. The day-to-day operational safeguarding responsibility is held with the designated safeguarding officer for the Trust who is also the Service Director.

The subgroup scrutinises leadership activity in respect of adherence to adopted safeguarding policies and procedures, is informed of safeguarding incidences at the Trust and scrutinises the management of risk. It ensures safeguarding policies at the Together Trust comply with local and national safeguarding standards. The subgroup maintains an overview of key performance indicators. The group works with the Safeguarding Learning & Development Forum, which reports directly into the subgroup.

Health and Safety, Risk and Environment Subgroup – this subgroup ensures that appropriate health and safety processes are in place to ensure a safe working environment which meets all legal requirements, including consultation arrangements. It ensures business continuity plans are reviewed regularly and agrees and monitors an organisational approach to environmental impact.

The subgroup also oversees the development of the Trust’s property portfolio and ensures that it is fit for purpose, including compliance with the Disability Discrimination Act (DDA), and monitors the effectiveness of the Charity’s approach to risk management.

Health and Safety Committee is made up of representatives from across the Charity who meet on a regular basis to promote efficient health and safety policies and methods across all areas. The Together Trust is a registered member of the Contractors Health and Safety Scheme under which its health and safety practice is reviewed each year. The Charity also subscribes to the Royal Society for the Prevention of Accidents (RoSPA), for external guidance and advice where required.

Digital Transformation Subgroup – the subgroup meets quarterly to oversee how technology can reach and support our workforce and the people we support with the aim of delivering practical, efficient and costeffective solutions. It oversees how the Charity creates a culture in which digital can flourish and the accountabilities for digital development within the Charity ensuring that, where possible, digital is an integral part of business design.

We take a digital-led approach, and our aim is to share learning to enable our workforce and the people we support to:

Service Visitor Subgroups – a programme of visits aims to ensure that all the Together Trust operations and central support services will be visited by Trustees at least once in each financial year. This enables Trustees to broaden their knowledge and awareness of issues relating to the activities of the workforce and for the people who use the Charity’s services. The aim is to promote positive working relationships between Trustees and our workforce. In order to ensure the strong link between Trustees and service delivery was maintained during COVID-19 restrictions, service visits took place on-line with Trustees meeting staff teams virtually in line with risk assessments.

5. Section 172 statement

This section of the Report describes how the Directors have had regard to the matters set out in section 172(1) (a) to (f), and forms the Directors’ statement required under section 414CZA, of the Companies Act 2006.

‐ The Directors recognise that the long term success of the Together Trust is dependent on having regard to the interests of its stakeholders. As a registered Charity, the Directors’ responsibility also extends to ensuring that the affairs and objectives of the Together Trust are managed in a way that enhances public trust and support. The Board has identified and documented its stakeholders in the Together Trust’s Stronger Together Strategic Plan Key stakeholders include the people we support, their families, carers, commissioners, our workforce and our regulators.

Our 2021 annual review describes our impact, is available on the Trust’s website and can be downloaded here. Our 2022 annual review will be published in December 2022.

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“Knowledgeable, caring, friendly staff with excellent understanding of children with additional needs as individuals.”

Residential short break services - family feedback Investor in Customers. October 2021

Beneficiaries

The Board recognises the importance of engaging with stakeholders, understanding their views and interests in order to be successful over the long term. Dialogue with stakeholders can help the Board to understand significant changes in the landscape, help inform future developments and trends, and develop strategy that is aligned with stakeholder interests.

The Charity works tirelessly towards a brighter future for the people we support and their families and to build communities where everyone feels valued and can thrive. The people we support tell us that they face daily discrimination, hardship and barriers in their lives. Things must change. Every day, we listen and learn from the people we support so we can work together for change. We take a proactive approach to helping the people we support to influence local, regional and national policy. We also work closely with national organisations such as the Disabled Children’s Partnership and Children England to help the people we support to influence future policy and provision.

The Board actively engages with its benefit ciaries, both informally and formally, in order to understand the impact of its charitable activities and the interests of its beneficiaries. In 2021 the Together Trust was granted the highest award possible for its customer service and relationship management following an independent assessment by Investor in Customers (IIC). IIC registered the Charity as having ‘exceptional’ customer service levels and awarded the Charity gold status across all four IIC principles. The independent assessment of excellence in the field of customer service and customer relationships is based on internal and external perceptions of the customer experience. The Trust was first awarded this standard in 2017 and has retained the gold standard since that time.

The Supporting People subgroup described on page 6, reports directly to the Board and has responsibility for overseeing and advising Trustees to ensure the Together Trust is aligned to the needs of its customers and commissioners. The subgroup reviews how the Charity continuously improves and addresses the needs of the people and families who use its services

The Charity has begun work to formalise a participation strategy and is listening closely to the people we support about the issues that affect them inside and outside of the Trust. Our aim in this area is to be a trusted partner to the people we support and empower people to make positive progress to influence our service development, campaigns, future policy and provision.

During the reporting period we have worked across a range of policy areas (children in care and care leavers, SEND reforms, mental health), with the aim of making sure that stakeholders understand the Government’s proposals and have the ability to feedback their views. More information about this can be found on page 14 of this report.

Workforce and Workforce Engagement

The Charity takes great pride in its workforce on whom it depends for the delivery of its charitable objectives.

During the year the Together Trust employed an average of 821 people in the fields of care, education, community, clinical, management and infrastructure support. After the period covered by this report, in June 2022, the Trust became a Real Living Wage employer.

The Charity’s pay and reward structure follows a Job Family Model which aims to set out pay and reward in an equal, fair and consistent manner, and at a level to recruit and retain the necessary calibre of staff. Each job family contains different levels, each reflecting different job outputs, skills, knowledge, and experience. However, the essential nature of the activities carried out and the basic skills used are similar. The number of levels varies for each job family, depending on the scope and range of responsibilities.

The Trust makes substantial provision for the qualification, training and development of its staff and volunteers. It offers a wide variety of learning and development opportunities to support organisational, team

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and individual development linked to achieving the very best outcomes for the people we support. The Charity is committed to working with all colleagues to support their development needs and provides a variety of learning and development events, training and role specific qualifications.

The Charity’s workforce can access an employee assistance service which is a free and confidential support programme to help support staff and volunteers in many aspects of their lives, in and out of the workplace. The Trust is committed to improving the health and wellbeing of its workforce and continues to champion a number of mental health and wellbeing initiatives to enable staff to feel supported both at work and at home. With over 40 mental health first aiders in our workforce, they offer initial support for mental health and wellbeing through non-judgemental listening and guidance. All members of the workforce are also able to selfrefer for support from Able Futures, who give guidance from a mental health specialist to help staff learn coping mechanisms, build resilience, access therapy or work with the Charity to make adjustments to help mental health at work.

The Teachers’ Pension Scheme is recognised for eligible employees and all other staff may join a defined contribution pension scheme, which is available to them from the commencement of their employment.

The Charity is aware of its responsibilities in accordance with statutory legislation and all relevant appointments are subject to satisfactory references, Independent Safeguarding Authority (ISA), Disclosure and Barring Services (DBS) checks and overseas checks.

Investing in people

The Trust first achieved the Investors in People (IIP) standard in March 2001 and opted for its seventh review in spring 2021. This was first time the Trust was assessed at ‘beyond the standard’ and it achieved the prestigious ‘Gold’ award. The Trust regarded the IIP standard as an effective way to improve practices, measure performance and gain accreditation to demonstrate excellence in its particular field. Therefore, the IIP framework was used, and is continuing to be used, as a key part of its developing people strategy, aimed specifically at improving its competitive positioning in the specific sector.

“Continuous improvement, training and personal development are fundamental to the Together Trust, as they believe they are essential to the future well-being of its business.”

Investors in People, Feedback Report May 2021

The Charity is committed to eliminating discrimination and to treating all individuals fairly in all aspects of its work. The Trust promotes the employment of disabled people

through its Equality and Diversity & Disclosure of Disability policies that support equality of opportunity in the recruitment, employment and retention of staff and volunteers, including access to training and promotion. The Charity ensures that EDI is at the forefront of all service delivery and workforce support. Our aim is for long-lasting change that sees EDI become part of the Trust’s DNA.

The Trust is committed to improving Equality, Diversity and Inclusion engagement plans for its workforce and the people it supports.

Volunteering

A three-year volunteering strategy was agreed in autumn 2020. The Charity aims to have an effective and inclusive volunteering programme that delivers tangible and valuable outcomes for our beneficiaries, supporting the delivery of the Charity’s Stronger Together Plan. Sixty volunteers have supported the Trust over the past year. From governance, education, residential services and community services to support roles including fundraising, communications and organisational development.

Our annual volunteering report highlights that, over the period April 2021 - March 2022, our regular volunteers (not including Governors or Trustees) gave more than 1,300 hours of their precious time to help the Trust.

“I chose the Together Trust because it had a range of different services to support individuals … I love working with disabled young people because they all learn and behave in unique ways.”

Rachel Cartin Volunteer Literary Assistant

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Their contribution equates to over £12,000 when valued in terms of the national living wage. In addition, 149 hours of time was logged by volunteers helping at our events.

Effective workforce engagement

A Human Resources and Organisational Development Subgroup reports direct to the Board and oversees effective workforce engagement and that the outcomes from staff and volunteer surveys are received and acted upon. This group also oversees the organisation’s approach to workforce equity, diversity and inclusion and monitors and evaluates all relevant KPIs with focused plans to address areas requiring improvement. More information about the work of this subgroup can be found on page 6 of this report.

The Trust seeks to listen, understand and act upon our staff views through the Staff Council. The Staff Council is an elected group of colleagues from across all our services who meet on a quarterly basis. As a consultative body for employees, the Trust has extended and is strengthening the Staff Council’s role to ensure that, as strategy is developed and plans are implemented, Staff Council representatives help to communicate and engage better with our workforce. They review how successfully initiative have been delivered. The meetings are chaired by the Chief Executive and have Trustee attendance.

Suppliers

The Trust recognises its responsibility to ensure its charitable business activities are undertaken in accordance with regulatory requirements and best practice. The Trust’s procurement policy has been developed to help the Trust achieve best value in the use of limited resources to support the Trust in achieving its overall aims and objectives. It also supports addressing the requirements of the Charity Governance Code and the 2010 Bribery Act by emphasising the responsibility of all staff involved to conduct procurement legally and ethically, as well as securing value for money.

All procurement activity adheres to the following key principles:

The Trust also measures and reports on its supplier payment practices to Trustees on a regular basis.

Wider Community and Environment

‐ The Board is focused on its long term and strategic charitable aims as set out in the Stronger Together Plan described on pages 13 to 17 of this report. One of the aims of a new Health and Safety, Risk and Environment Subgroup, created in 2021, is to agree and monitor an organisational approach to environmental impact. This group will also oversee the development of the Trust’s property portfolio to ensure that it is fit for purpose. The group monitors the effectiveness of the Charity’s approach to risk management (including the annual risk register). The group also monitors and evaluates all relevant KPIs to help address areas requiring improvement.

The Board recognises the importance of open and honest dialogue with Regulators who include Ofsted and the Care Quality Commission. As a registered Charity the Together Trust is regulated by the Charity Commission. The Board receive regular updates on legal, regulatory and compliance matters when it meets six times a year. Board subgroups receive more frequent updates in line with their specialisms, as set out on pages 5 to 7 of this report.

Measuring, managing and reporting the Together Trust’s social value

During the year, the Together Trust has taken a more strategic approach to the implementation of social value measurement and reporting, both as an organisation and through its contracts, which measure and report our overall social footprint. The Charity is already delivering social value however, it needs to improve data capture and reporting to its stakeholders to improve impact, evidence social value delivery and support it in developing a stronger and more robust approach to bidding. During 2022/23 the Charity will be aiming to demonstrate its contribution effectively and establish a structured process for target setting, measurement and contract management of the social, economic and environmental impacts of each project from bidding, project management to completion. National Themes, Outcomes and Measures (TOMs) social value framework tools will be adopted during 2022/23.

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Monitoring Progress

The Board monitors progress against strategic aims in the Stronger Together Plan by measuring key performance indicators relating to specific areas of the Charity’s operations and support services. Each Board subgroup, described on pages 5 to 7 of this report, receives KPIs relating to their specialist area either monthly or quarterly.

Stronger Together Scorecard Themes

More information about the measures and results can be found on pages 13 to 17 of this report.

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6. Strategic achievements and performance

In the year to 31 March 2022, the Together Trust provided over 50 social care, special education, community and family support services to over 2,900 children, young people, vulnerable adults and families, whose special needs fall within the areas of emotional, behavioural and social difficulties, physical disabilities, learning difficulties and autistic spectrum disorders. Like many other charities, demand for the majority of the Trust’s services continues to grow. Throughout the period of the report, several services reduced or temporarily closed because of the impact of the COVID-19 pandemic however, all have now returned to operation.

In the main, the Trust’s services were carried out on behalf of local authorities, public sector bodies and service users in the North West of England and surrounding areas including Staffordshire and the West Midlands. All Special Educational Services are Ofsted regulated. Residential Care Services, along with Domiciliary Care and Community Support Services, are regulated by either the Office for Standards in Education (Ofsted) or the Care Quality Commission (CQC).

During the reporting period the Together Trust’s services were:

Special Educational Services

Inscape House School – a non-maintained special school that meets the needs of children and young people, aged 5 to 19 years, with autism spectrum conditions and related social communication difficulties. The school also runs its own café as a social enterprise.

Bridge College – a specialist Further Education Day college that supports students up to 25 years with learning difficulties and disabilities, complex needs, communication disorders and autism.

Ashcroft School - an independent special school catering for children and young people, aged 8 to 18 years, who have struggled to cope in other settings because of their individual barriers to learning. Ashcroft also offers Pupil Referral Unit (PRU) services, vocational learning for 14- to 19-year-olds and operates Ashcroft College which support students, aged 14 to 16 years, who may have been excluded or are close to being excluded from mainstream education.

Social Care Services – Residential Care Services

12 Ofsted registered homes for children and young people including:

Social Care Services - Domiciliary Care and Community Support Services

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Social Care Services - Clinical services

Together Trust multi-disciplinary teams work in mainstream and SEND schools and colleges providing:

Our activity and key performance indicator (KPI) results in 2021/22

During the year, the Charity renewed its commitment to its strategic plan, known as Stronger Together, which has been updated to 2025/26. The plan builds on both existing expertise and commits to innovative ways of improving how the Charity works. More information about this can be found in Section 8 of this report.

However, for the period 2021/22, the Charity continued to deliver results against four key strategic goals, set originally in 2017/18, as set out on the following pages.

Stronger Together Aim 1

Deliver high quality, person-centred, effective and cost-efficient services to vulnerable individuals and families. Our integrated services adapt and evolve to meet the lifelong changing needs of individuals. We work in partnership to achieve the very best outcomes possible for the individuals we support.

Our progress in 2021/22

With creative and flexible support thanks to its workforce, the Trust continued to operate in most service areas despite COVID-19 restrictions which continued into 2021/22. A number of Education, Clinical, Community and Mediation and Disagreement Resolution services were delivered virtually providing families and young people with the opportunity to receive continuity of support. Virtual service delivery was successful in most settings and has continued into 2022.

Referrals for the majority of Trust services continued to remain high. The Charity continues to invest in supporting and recruiting foster carers to meet increased demand for foster placements. Many of the young people we support in children’s homes benefit from long term placement stability. This remains a good indicator for the outcomes for young people in the Charity’s care, as is their attendance in full-time education. The Trust supports national and local campaigns aimed at improving the longevity of residential placements for children that reach 16+ and encourage and support young people to remain in care until they reach 18+. Many young people in our foster care also benefit from long term placement stability and we are actively looking at how we can continue to provide a consistent level of support to our cohort of care leavers.

The people we support continue to benefit from grants from funders who help to provide additional family support services, including grant funding for improving physical activity and autism sleep support. Grant delivery thanks to funding from Youth Music and the National Lottery was extended into 2021/22 with the permission of funders due to pandemic restrictions.

Despite the challenges our students faced as pandemic restrictions continued in the 2020/21 academic year, students were able to produce excellent award results, thanks to the dedication and support of our workforce. A clinical quality and governance framework was implemented, and service level agreements were introduced in clinical services. A project to redevelop Newbridge in Stockport, and its services for people with individual and often complex needs, was approved by the Board in April 2019. The expansion of this Stockport service was delayed as a result of the pandemic, but improvements have begun and will hopefully be part-funded by a fundraising appeal during 2022/23 and 2023/24. As COVID guidelines were relaxed in spring 2021 many of the people we support were able to return to Newbridge and SK30+ in a planned and supported manner.

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At 30 June 2022 all Trust services were graded Good or Outstanding by Ofsted/CQC. All of the Charity’s CQC and Ofsted educational inspection reports are available as a download from www.togethertrust.org.uk

Occupancy levels 31 March 2022 (31 March 2021) Community services 78 % (35%) Residential services 86 % (78%) Fostered children in placement 100 %* (100%)

Occupancy levels returned to pre-pandemic levels especially in community services once lockdown restrictions eased and young people and adults were able to safely return to services.

*The Trust continued to adapt its service provision safely as a result of COVID-19 guidelines and risk management. In some cases, this meant service provision was temporarily closed. The Government’s furlough scheme was utilised most notably in a number of community services, as demand for specialist provision reduced as a result of the pandemic. Our services worked closely with the people we support, their families and local authorities to reopen provision when it was safe to do so, and the majority of furloughed staff were eventually able to return to work as Government guidelines were eased.

Stronger Together Aim 2

Be a trusted partner to the individuals we support. Our personalised services enable people to make positive progress. Together, we support individuals who use our services to help them influence future policy and provision.

Our progress in 2021/22

During the year the Trust won the Business of the Year (over 20 employees) at the Greater Manchester Business Awards 2021 for its resilience and care of people during the pandemic.

Since the Independent Review of Children’s Social Care began in March 2021, we have campaigned to ensure the views of the people we support are represented and amplified through our involvement with Alliance for Children in Care and Care Leavers and heard in our response to the case for change.

Further resources were allocated to the development of participation and co-production for the organisation, and to help the people we support change government policy and future development and practice at the Trust. More information about this can be found on page 6 of this report.

We campaign based on the feedback from the people we support, and their families, about what matters to them and from their perspective what good looks like. We have begun work to improve participation and co-production in many aspects of the Trust’s work and to ensure that staff have the skills to do this well.

As a result of research our current campaigns

and policy priorities are:

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Investor in Customers (IIC) registered the Charity as having ‘exceptional’ customer service levels and awarded the Trust gold status across all four of its principles in 2021. The independent assessment of excellence in the field of customer service, and customer relationships, is based on internal and external perceptions of customers and staff. The Trust has retained this standard since 2017.

For latest news and developments at the Together Trust visit our website www.togethertrust.org.uk

Investor in Customers biennial accreditation results ( December 2021):

90.4% of respondents agree that the Trust’s staff provide a consistently high-quality service and good support.

90.9% of respondents view the Trust as a trusted service provider.

84.8% of respondents said that the Trust focuses on putting customer and individuals who use our services first.

The Trust retained its Investor in Customers ‘Gold’ accreditation for the third time in 2021. Refer to page 11 for further information.

Stronger Together Aim 3

Grow, develop and expand our reach as a provider of choice to maximise our impact and ensure that we can sustain our future as an organisation. We develop integrated pathway services and will grow organically and sustainably to meet the changing needs of the individuals we support and funders’ requirements.

Our progress in 2021/22

During the year, the Together Trust won new contracts and joined or reconfirmed its position on the following frameworks:

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During the year significant investment was made in IT/digital budgets to upgrade equipment and improve digital platforms for the people we support and our workforce. Migration to cloud storage continues across Trust settings. CPOMS (Child Protection Online Monitoring) has been introduced in key and will be rolled out further if initial use is effective. Work has begun to improve CRM systems and centralise referrals. A programme board governance framework has also been recently introduced to improve project management and reporting.

Togethernet, the staff portal, has been significantly redeveloped to improve access to information.

Income rose to £32.57m during the year (2021/21 £30.69m). Fundraising team income was £139,000 in donations and a further £95,000 from grant applications giving a total income generated of £234,000 (2020/21 £290,000). As the pandemic continued to have an adverse impact on some service developments, work to finalise two key developments was postponed thus delaying the launch of a capital appeal for funds into 2022/23.

The Trust continued to deliver awareness of its heritage and archive thanks to funding from the National Lottery Heritage Fund in 2021, enabling it to plan a number of learning and participation heritage-themed events for volunteers, young people and the wider community during 2020/21 and into 2022. The grant, to mark the Trust’s 150th anniversary, was delivered differently due to the impact of COVID-19 restrictions. In agreement with the National Lottery, completion of this work was achieved in summer 2022.

The grant delivery culminated with an exhibition of the Charity’s heritage at Manchester Central Library in spring 2022. Our 150[th ] heritage activity can be viewed by visiting https://www.togethertrust.org.uk/150

Stronger Together Aim 4

We aim to attract and retain a skilled and motivated workforce who are treated equitably and fairly and have clear learning and development opportunities.

Our workforce is dedicated to helping those in need, work collaboratively and live our values. We listen to our workforce and work with our Staff Council to ensure effective engagement.

Our progress in 2021/22

During 2021/22 the Together Trust continued to focus on its people strategy. The Charity is committed to a transparent system for pay and reward in order to attract and retain staff.

The Charity published its latest gender pay report in April 2022. A copy of this can be downloaded from: https://www.togethertrust.org.uk/Charity- information

The Trust continues to invest heavily in its learning and development programme, giving staff the opportunity to develop their skills and providing them with opportunities to progress within the Charity. It was awarded Investors in People Gold in May 2021. More information about workforce development can be found on page 8 of this report.

Staff members from across the Together Trust volunteered to get involved in the Equality Marches during Manchester Pride Festival. August 2022

An attraction strategy was introduced to help secure appropriate staffing levels in services. Investment has been made in an employee referral app and a specialist recruitment agency for care vacancies.

Approximately, 60 volunteers are in a variety of roles from trustees and governors to reading supporters and musicians. Where possible, volunteering outcomes have been tracked for the services supported and for the

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volunteers themselves. You can read more about our volunteers on page 9 of this report.

The Trust is committed to improving the health and wellbeing of its workforce and, during the year, championed a number of mental health and wellbeing initiatives to enable staff to feel supported both at work and home. With over 60 mental health first aiders in the workforce, they offer initial support for mental health and wellbeing through nonjudgemental listening and guidance.

----- Start of picture text -----
As at 31 March 2022:
Staff retention: 78% (2021 90%)
Staff attendance: 95% (2021 95%)
Staff turnover: 7% (2021 3%)
----- End of picture text -----

During the COVID pandemic staff turnover reduced and retention increased as staff nationally tended to remain in their current jobs due to the high level of uncertainty around the impact of the pandemic on jobs.

Further information about the Together Trust’s impact can be found in The Together Trust’s Annual Review 2021/22. A copy of our latest Annual Review will be available from December 2022 and can be downloaded from: https://www.togethertrust.org.uk/Charity-information

Energy Usage and Sustainability

The information and data to calculate energy usage in 2021/22 is taken from meter readings for gas and electricity and from fuel card readings for the Trust fleet of vehicles. Mileage claims have been used to calculate the ‘grey’ fleet. All fuel conversions to kWh and CO ₂ emissions data have been calculated in line with UK Government environmental reporting guidance, using UK Government GHG conversion factors for company reporting.

The Total Energy Consumption (TEC) in 2021/22 amounts to 4,976,000 kWh (2020/21 3,690,000kWh) resulting in carbon emissions of 716 tonnes of carbon dioxide (2020/21 571). The annual quantity of emissions resulting from our transport activities, including the grey fleet, and the use of gas was 673 tonnes of carbon dioxide (2020/21 554). Electricity usage accounted for 43.3 tonnes of carbon dioxide (2020/21 16.4 tonnes).

For information, the annual emissions from the Trust central site, including Inscape and Ashcroft schools and the central office (but excluding transport), amounted to 196 tonnes of carbon dioxide being 27.4% of the total emissions (2020/21 179 tonnes accounting for 31.4%). Transport in total accounted for 25% of carbon emissions (2020/21 22.4%). The increase in the environmental impact of the Trust’s energy usage is due to the fact that in 2020/21, during the period of the COVID pandemic. The Trust’s educational facilities were operating at reduced capacity and the Trust’s vehicles and grey fleet were not used to the same extent as in previous years, as some services were largely closed and more staff were working from home.

The Trust is investing in an Environmental and Sustainability Manager to identify opportunities for continuous environmental improvement and implement programmes to deliver these to reduce the environmental impact of Trust activities.

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7. Financial review

As the Trust continues to manage the effects of the COVID pandemic it has reported another good year financially with increased income, however net income for the year has seen a small decrease. While the majority of the Trust income is from local authority fees for education and care services provided, it is noted that authorities face significant funding gaps and the financial outlook for the sector is concerning, which indicates a premium being put on continuing to provide services which represent good value for money to local authorities in the future.

a) Income

In 2021/22 the Together Trust has seen its income increase by £1.88m from £30.69m to £32.57m with the main increase being in social care services where income increased by £1.32m due to fee increases and increased service provision following COVID reductions in 2020/21. Education and Other services (which is mainly our fostering service), saw increases in income of £0.22m and £0.28m respectively largely due to fee increases in Education and a marginal growth in fostered young people.

Social care services made a small surplus of £0.07m on income of £14.3m (2021 a deficit of £0.04m on income of £13.0m). Education services made a surplus of £0.92m on a turnover of £15.57m (2021 a surplus of £1.05m on income of £15.35m), while other services (fostering) made a surplus of £0.27m on income of £2.43m (2021 a surplus of £83,000 on income of £2.14m).

The Charity’s services are essential for those who we support and the majority of people who receive our services require a funding decision from the responsible local authority or other such public agency. The majority of fees are received for services to individuals, although some services are purchased on a block contract basis by local authorities who wish to ensure they have guaranteed access to the Charity as their provider of choice. The Charity is also in a variety of partnership arrangements with a number of local authorities, although more recent new business has been awarded via formal tender processes.

i) Income

Donations - Voluntary Income & Fundraising Activities
Fees for Social Care Services
Fees for Educational Services
Fees for Other Services
Investments & Other Income		 2022
£’m
0.24
14.28
15.57
2.43
0.05
32.57		 2022
%
0.7
43.8
47.9
7.5
0.1
100.0		 2021
£’m
0.19
12.96
15.35
2.14
0.05
30.69		 2021
%
0.6
42.2
50.1
7.0
0.1
100.0

ii) Investment policy and returns

The investment portfolio of the Charity is invested with the main purpose of ensuring the underlying security of the investment, while achieving growth wherever possible against a series of benchmarks and the regular advice of our investment managers is taken to help achieve this. During the year, the Charity made a cash investment of £700,000 to its portfolio. At the year end, the market value of investments was £976,000 (2021 £302,000).

iii) Fundraising

In 2021/22 fundraising income, including donations, all grants and gifts in kind, was £0.24m (2020/21 £0.19m). Notable contributions were received from a diverse group of supporters, both long-standing relationships and friends to the Charity. The Together Trust is extremely grateful for the generous support received from a variety of individuals, community and corporate supporters, and for the increasing number of grant-making trusts who have chosen to support our young people and families.

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The Trust particularly wishes to thank all donors who have given generously to support our work, either financially or with significant donations in-kind including:

Association of Colleges Booth Charities Children in Need Federation of School Lodges Manchester City Football Club National Lottery Heritage Fund Sport England Youth Music

The Trust would like to acknowledge the support from its grant funders to pause grant delivery for some projects during 2021/22 because of the pandemic and acknowledges the many other individual donors, funders and corporate supporters who have made donations or gifts in-kind during the year.

For over 20 years, Roughley’s Bikers have been roaring into our Cheadle campus to donate sweet treats in the muchanticipated Easter Egg Drop.

The pandemic continued to bring challenges for the fundraising team despite the use of the Government’s furlough scheme. Work with the majority of local corporates, community groups, schools, and in-person events were put on hold to ensure compliance with Government guidelines and respect for the local community. A capital appeal to redevelop Newbridge, one of the Trust’s adult centres in Stockport, was significantly delayed during 2020/21 however, work on the capital appeal will be able to commence in 2022/23. The planned expansion of Inscape House School was also put on hold. The Charity plans to return to face-to-face fundraising events as soon as it is safe to do so.

All Trustees are aware of the CC20 guidance from the Charity Commission. The Fundraising Department works closely with the Trust’s Records, Archives & Information Manager, who oversees data protection compliance for the Charity, to ensure best practice is embedded in all that we do including, but not limited to, a Fundraising database which is administered in the Fundraising Department and the continuance of permission-based communications with individual supporters.

There have been no formal complaints concerning our fundraising practices during the reporting period. Together Trust actively promotes a Complaints and Compliments Policy, which can be found on the Charity’s website: https://www.togethertrust.org.uk/who-we-are/policies

The Charity is registered with the Fundraising Regulator. The Together Trust does not engage in faceto-face fundraising (known as chugging), telephone fundraising, or direct mail campaigns. There were no licensed street collections in the reporting period. The Together Trust does not use commercial participators.

b) Expenditure

The Charity reports expenditure of £31.2m in the year (2021 £29.30m), an increase of 6.5% compared to an increase in income of 6.1%. This resulted in a marginal fall in net income, before gains and losses, to £1.37m compared to £1.40m last year.

Of the increase in expenditure, payroll costs increased by 2.8% following a cost-of-living annual pay increase of 2% and further pay increases due to incremental payscale progression. Agency costs increased by £0.6m in the year to £1.5m as a result of more dependency on agency staff during the continuance of the pandemic. After some years of near zero inflation, in 2021/22 inflation averaged 4%.

Social care services expenditure increased from £13.31m in 2020/21 to £14.21m in 2021/22, an increase of 6.8%, while education services expenditure increased by 6.7% to £14.65m, to support

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increased income and pupil numbers. Other services expenditure (being largely fostering), increased by 4.9% to £2.16m.

i) Expenditure for the year ended 31 March 2022

Raising funds
Cost of providing Social Care services
Cost of providing Education services
Cost related to Other Services		 2022
£’m
0.18
14.21
14.65
2.16
31.20		 2022
%
0.6
45.5
47.0
6.9
100.0		 2021
£’m
0.20
13.31
13.73
2.06
29.30		 2021
%
0.7
45.4
46.9
7.0
100.0

The average number of employees during the year was 821 (2021 866). Payroll costs are reported at £21.5m (2021 £20.9m), an increase of almost 3% on the previous year following a 2% pay increase and incremental payscale progression.

Whilst the Government continues to actively seek partnership with the voluntary sector, there seems little prospect of them altering their position over VAT. It continues to be a significant burden and the Charity’s non- recoverable VAT element amounted to £894,000 (2021 £764,000).

c) Public Benefit

In setting its plans and priorities for areas of work, the Trustees of the Together Trust have referred to the guidance from the Charity Commission on the provision of public benefit. The summary of the Charity’s Strategic Plan and the analysis of the achievements to date as shown on pages 13 to 17 of this report, together with more specific examples of the Charity’s activities set out in its performance reports, demonstrate how the Charity has sought to fulfil its principal charitable objective which is to give aid, assistance and care to those with disabilities or in need.

Access to all the Together Trust services is based on an objective assessment of need by Together Trust staff and/or a commissioning local authority and is not based on financial ability to pay. In the case of Independent Advice and Support Services and Independent Supporter Services, any parent/legal guardian whose child attends school in the area the service operates may have access to these services.

d) Reserves

The Trustees periodically review the reserves policy of the Charity and during the last review moved it towards a policy based on an assessment of the Trust’s cash flow and the risks it faces. In the current uncertain times, the Together Trust takes a prudent view where, as a minimum, the level of cash reserves must not fall below £2.5m at each month end and it should hold cash reserves of at least six weeks expenditure at the year end. The Trust has significantly increased its designated reserves in the previous year to help support the achievement of our corporate strategy, which has been updated, and in particular to support digital transformation and a property review. It is anticipated that this strategy will result in significant outlay being made over the course of the next four years.

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The table below sets out available reserves.

Net current assets
Less long-term creditors
Net reserves
Less restricted, designated and endowment funds
Available reserves		 2022
£’000
10,282
(881)
9,401
(4,657)
4,744		 2021
£’000
9,523
(1,037)
8,486
(4,741)
3,745

At the year-end available cash funds were £9,397,000, against the equivalent of six weeks’ worth of expenditure of £3,575,000 (2021 cash funds were £7,244,000 against £3,381,000 of expenditure).

e) Fixed assets

To monitor and control its fixed assets, the Charity makes use of a fixed asset register, which details the organisation’s properties, vehicles and other capitalised equipment.

The changes in tangible fixed assets are summarised in the notes to the financial statements (see note 14).

f) Going Concern

While the Coronavirus pandemic continued to have an operational impact in the year it was significantly reduced from 2020/21 with a much-reduced impact on income and expenditure although the peaks and troughs continue to be challenging in managing staffing levels. The key challenge for the Trust going forward, which is common to the Care sector in particular, is the difficulty in recruiting and retaining staff in a shrinking labour market. To help address this the Trust has reviewed and increased its pay and reward offer to staff and the resources it devotes to recruitment, but we do not believe there are material uncertainties that call into doubt the Together Trust’s ability to continue in operation for the foreseeable future.

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8. Future strategy

‘Stronger Together’ 2022/23 – 2025/26

The Together Trust provides a wide range of care, community, clinical and education services, which have provided it with a degree of resilience during the last few years of challenge in the age of austerity. The Charity has sought to develop and build upon these areas of expertise.

During the year the Charity renewed its commitment to Stronger Together, it’s strategic plan which has been updated to 2025/26. The plan builds on both existing expertise and commits to innovative ways of improving how the Charity works.

The current four-year financial projections through to 31 March 2026 illustrate income growth in current service provision across all service areas, taking income to £43.2m in 2025/26 with investment over the period in services and infrastructure of over £10m.

Beyond 2021/22

During the year the Trust began work to build a new five-year strategic plan. The Board endorsed proposals in autumn 2021 evidencing growth opportunities where the Charity will seek to strengthen existing and form new partnerships and alliances. The plan will also use stakeholder feedback including the Investor in Customers accreditation work to give the Charity greater insights to inform future planning and service development. Our revised strategic aims are:

The Board has endorsed this approach, including a property review, and substantial funds have been set aside in designated reserves for this purpose. Work is currently underway to comprehensively review the service environment to support the wider goals and challenges of commissioners and families that we work alongside.

In line with a needs-led pathway, our aim is to develop a model to provide services with the individual central to the package of support. This model will grow capacity, support local authorities and expand our reach by developing community-based provision that works flexibly with our resources.

Our progress will continue to be measured by key performance indicators relating to specific areas of the Charity’s operations and support services.

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9. Principal risk and uncertainties

The Trustees are responsible for ensuring effective risk management and ensuring that appropriate measures are in place to manage risks. On an ongoing basis risks are reported to every main Board meeting (six per year) to keep them abreast and up to date with the main, current issues and the actions being taken to mitigate these risks.

Although, during the initial stages of the pandemic in 2020/21, staff turnover reduced, staff turnover has increased in 2021/22 and the ability to recruit and retain staff remains a key risk which we aim to address through the implementation of a new attraction strategy and our continued commitment to a fair and consistent approach to pay and reward including now being an accredited Real Living Wage employer. We have also greatly expanded the learning and development opportunities available to staff, as well as staff wellbeing support and a new staff reward platform. In April 2022 we increased pay by 4.5%, introduced a 25% enhancement for weekend working, increased annual leave entitlements and introduced new categories of leave.

The continued financial success of the Trust is particularly dependent on securing annual fee increases for its services and we have been largely successful in securing these in recent years. Fee increases are becoming increasingly necessary with high inflation rates and the need to keep our pay competitive, but we are aware that Local Authorities who fund our services are under increasing financial pressures themselves.

The Charity continues to review its resource requirements and in particular the need to update its digital infrastructure and property portfolio to ensure that it remains competitive in the future, Significant investment has already been made in our digital team and systems upgrades and this will continue. We have commenced a major property review and are currently developing a masterplan for the main Cheadle site in consultation with key stakeholders to include funding options.

Safeguarding continues to be an area of potential risk and the Charity has established a robust accountability, control and review framework involving officers and Trustees.

The Charity has been informed by The Pensions Trust that some benefit changes in regard to the final salarybased pension scheme, which closed to new members in 2000, may not have been in accordance with the scheme rules. The Pensions Trust are seeking Court direction in relation to this, the outcome of which is not expected to be known until late 2024. If the Court directs that changes were made in a way not permitted by the scheme rules, then this would give rise to additional pension liabilities for the Trust in the future, which the Scheme’s Actuary has estimated to be in the region of £6.1m. This figure is estimated using actuarial assumptions derived using the Trustee’s Technical Provisions basis as at 30 September 2021 where this relates to service prior to the date of change and has been calculated from the preliminary results of the actuarial valuation as at 30 September 2021 allowing for market conditions at that date.

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10. Statement of Trustees’ responsibilities

The Trustees (who are also directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Trustees are aware:

AUDITOR

Deloitte LLP was reappointed during the period but will not be reappointed at the forthcoming annual general meeting. A tender process is being undertaken to appoint new auditors.

The Trustees’ Report, including the Strategic Report, was approved by the Board and signed on its behalf by

Giles Gaddum Chair of Trustees

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Independent auditor’s report to the members of the Together Trust

Report on the audit of the financial statements

Opinion

In our opinion the financial statements of The Together Trust (the ‘charitable company’):

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).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report.

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council’s (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 trustees’ 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 charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.

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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 course of 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.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’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 design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We considered the nature of the charitable company’s industry and its control environment and reviewed the charitable company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We discussed among the audit engagement team including relevant internal specialists such as pensions regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

As a result of performing the above, we identified the greatest potential for fraud or non-compliance with laws and regulations in the following areas, and our specific procedures performed to address them are described below:

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Registered Charity Number 209872

period. To address this risk we tested a sample of deferred income calculations for service users, and tested completeness of the deferred income report to ensure all students on the school register have been considered for revenue cut-off.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

Report on other legal and regulatory requirements

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified any material misstatements in the strategic report or the directors’ report included within the trustees’ report.

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report in respect of the following matters if, in our opinion:

We have nothing to report in respect of these matters.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Wright (Senior statutory auditor)

For and on behalf of Deloitte LLP, Statutory Auditor Newcastle upon Tyne, United Kingdom 18 November 2022

27

Registered Charity Number 209872

Statement of financial activities

Statement of financial activities for the year ended 31 March 2022 (including income and expenditure account)

Note
INCOME FROM:
Donations
4
Charitable activities
5
Investments
6
Other
7
TOTAL INCOME
EXPENDITURE ON:
Raising funds
8
Charitable activities
9
TOTAL EXPENDITURE
Net (losses)/gains on
investments
15
Net income/(expenditure)
for the year
Transfers between funds
Other recognised
gains/(losses)
Actuarial gains on defined
benefit pension scheme
22
Other gains
12
NET MOVEMENT IN FUNDS
RECONCILIATION OF
FUNDS
Total funds brought forward
Net movement of funds in the
year
Total funds carried forward
20		 Unrestricted
Funds
2022
£’000
107
32,240
18
29
32,394
169
30,811
30,980
(50)
1,364
35
4
103
1,506
26,356
1,506
27,862		 Restricted
Funds
2022
£’000
130
38
-
-
168
2
208
210
-
(42)
(35)

-
-
(77)

597
(77)
520		 Endowment
Funds
2022
£’000
-
-
6
-
6
5
-
5
24
25
-
-
-
25
140
25
165		 Total
Funds
2022
£’000
237
32,278
24
29
32,568
176
31,019
31,195
(26)
1,347
-
4
103
1,454
27,093
1,454
28,547		 Total
Funds
2021
£’000
194
30,455
21
25
30,695
198
29,101
29,299
43
1,439
-
22
57
1,518
25,575
1,518
27,093

There were no other recognised gains or losses other than those listed above and the net income for the year.

All income and expenditure derives from continuing activities.

See note 19 for comparative Statement of Financial Activities analysed by funds.

28

Registered Charity Number 209872

Balance sheet

As at 31 March 2022

Note
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Debtors
16
Cash at bank and in hand
CREDITORS:
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS:
Amounts falling due after more than one year
18
Provision for pension scheme liabilities
22
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds:
General
Revaluation reserve
Designated
Restricted income funds
Endowment funds
TOTAL CHARITY FUNDS
20,21		 2022
£’000
18,170
976
19,146
2,963
9,917
12,880
(2,598)
10,282
29,428
(881)
-
28,547
16,939
6,951
3,972
27,862
520
165
28,547		 2021
£’000
18,292
302
18,594
7,043
7,244
14,287
(4,751)
9,536
28,130
(1,037)
-
27,093
15,295
7,057
4,004
26,356
597
140
27,093

These financial statements on pages 28 to 55 of The Together Trust (registered number 301722) were approved and authorised for issue by the Board of Trustees on 11 November 2022. They were signed on its behalf by:

Mr Giles Gaddum Chair of Trustees

Mr Anthony Farnworth Honorary Treasurer

29

Registered Charity Number 209872

Cash flow statement

For the year ended 31 March 2022

NET CASH FLOWS FROM OPERATING ACTIVITIES
Net movement in funds
Adjustments for:
Depreciation
Losses/(gains) on investments
Income from investments
Profit on the sale of fixed assets
Interest receivable
Interest payable
Decrease in debtors
(Decrease)/increase in creditors
Net movement of pension service cost
Interest rate swap liability gain
Pension scheme actuarial gain
Net cash flows from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Income from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
Net cash flows from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Interest paid
Repayments of borrowings
Net cash outflow from defined benefit scheme pension contributions
Net cash flows from financing activities
Net increase in cash in the year
Cash at the beginning of the year
Cash at the end of the year
Analysis of changes in net debt
Note
At the
beginning of
the year
£’000
Cash flows
£’000
Cash
7,244
2,673
Bank loans
18
(879)
71
Interest rate swaps
23
(234)
-
6,131
2,744		 2022
2021
£’000
£’000
1,454
1,518
731
756
26
(43)
(9)
(8)
(29)
(25)
(15)
(13)
60
64
4,080
353
(2,155)
122
67
85
(103)
(57)
(4)
(22)
4,103
2,730
15
13
9
8
32
25
(612)
(537)
21
43
(701)
(30)
(1,236)
(478)
(60)
(64)
(71)
(121)
(63)
(63)
(194)
(248)
2,673
2,004
7,244
5,240
9,917
7,244
Fair value
movements
£’000
At the
end of
the year
£’000
-
9,917
-
(808)
103
(131)
103
8,978		 2021
£’000
1,518
756
(43)
(8)
(25)
(13)
64
353
122
85
(57)
(22)
2,730
13
8
25
(537)
43
(30)
(478)
(64)
(121)
(63)
(248)

30

Registered Charity Number 209872

Notes to the financial statements

Year ended 31 March 2022

  1. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), effective 1 January 2019, and the Companies Act 2006.

Going concern

The Trustees have prepared budgets and projections, taking into account possible changes to future income and expenditure, which show that the entity is able to continue as a going concern for the foreseeable future.

Therefore, the Trustees continue to adopt the going concern basis of accounting in preparing these financial statements. The Trustees have considered a period in excess of twelve months from the date of the approval of these financial statements in making their assessment.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes, although in practice they may represent the funding of fixed assets.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes, including the development fund described below. The aim and use of each designated fund is set out in the notes to the financial statements.

The purpose of the development fund reserve is to earmark funds to provide for ongoing maintenance, repair and refurbishment of the Together Trust homes and schools, in compliance with standards set by inspecting bodies such as the Care Quality Commission (CQC) and the Office for Standards in Education (OFSTED). The age and fabric of the establishments necessitate constant repairs, which have been highlighted by comprehensive surveys carried out by an appointed architect and reviewed annually. The programme for refurbishment for any new financial year is specified prior to the previous year end.

Restricted funds are funds which are to be used by the Charity for particular purposes as specified by the donor. The costs of administering such funds are charged against the specific fund. The purpose of each restricted fund is set out in the notes to the financial statements.

31

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

1. Accounting policies (continued)

Endowment funds are a form of restricted fund where the assets are required to be invested or retained for actual use rather than expended. An endowment fund where there is no power to convert the capital into income is known as a permanent endowment fund which must generally be held indefinitely.

Expendable endowment is an endowment fund where the Trustees have the power to convert the assets (i.e. land, buildings, investments or cash) into expendable income. The Charity holds permanent and expendable endowment funds. The permanent funds are not considered to be material.

Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the income have been met (generally by delivery of contracted services), it is probable that the income will be received and the amount can be measured reliably.

Income from grants includes grants where entitlement to funding is subject to specific performance conditions. Performance conditions may be stipulated explicitly by the funder, or may be implicit as per the Charity’s funding proposal. Income is deferred when the funder has imposed conditions, which must be met before the Charity has unconditional entitlement or the funder has specified the funds can only be utilised in future accounting periods.

Donated goods and services are included at the lower of their value to Charity and their estimated market value. No amount is included for services donated by volunteers. The full value of the freehold peppercorn rent is not valued due to the prohibitive cost of doing so. Income from fundraising activities is included in donations.

Fees invoiced in advance of services provided are carried forward as deferred income until the service is delivered.

Expenditure

Expenditure is recognised when there is a constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

Operating lease agreements

Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against income on a straight line basis over the period of the lease.

Trustees

The Trustees have elected that the Charity apply a policy of non-remuneration for Trustees, excluding out of pocket expenses.

32

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

1. Accounting policies (continued)

Tangible fixed assets

Transitional arrangements of FRS 102 have been adopted to freeze the tangible fixed assets valuation of freehold and leasehold properties as its equivalent cost, and hence tangible fixed assets are stated at equivalent cost (being 2014 market value net of depreciation to the adoption of FRS 102) less depreciation and any provision for impairment. Costs of maintenance are charged to the Statement of Financial Activities as they are incurred. Assets below a value of £2,500 are not capitalised.

Depreciation is provided on each tangible fixed asset, other than freehold land, at rates calculated to write off the cost, less its estimated residual value, on a straight line basis over the useful economic life of that asset as follows:

Properties - buildings - 2% per annum - improvements - 20% per annum Leasehold property improvements - over the life of lease Motor vehicles - 20% per annum Ancillary equipment - 20% per annum

Investment assets

Investments are included in the balance sheet at fair value as measured by middle market price values at the year end. The Trustees do not consider there to be any material difference in the valuation as measured by bid price. Movements in values during the year are included in the Statement of Financial Activities for any realised and unrealised gains and losses. Realised gains or losses are transferred to reserves upon realisation.

Employee benefits

For defined benefit schemes, the amounts charged to the Statement of Financial Activities are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the Statement of Financial Activities. The interest cost and the expected return on assets are shown as a net amount of other finance gains or losses. Actuarial gains and losses are recognised immediately in the Statement of Financial Activities. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting defined benefit asset or liability is presented separately after other net assets on the face of the balance sheet.

For defined contribution schemes, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet as appropriate.

The Trust participates in the Teachers’ Pension Scheme, which is a defined benefit scheme. The Charity is unable to identify its share of the underlying assets and liabilities of the scheme and therefore has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it was a defined contribution scheme.

Group financial statements

The Charity is exempt from the requirement to prepare consolidated financial statements by virtue that all subsidiary undertakings may be excluded from consolidation as they are not material and have not operated in the financial year. These financial statements therefore present information about the Charity as an individual undertaking rather than as a group.

33

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

1. Accounting policies (continued)

Financial instruments

Financial assets and financial liabilities are recognised when the Trust becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Debt instruments which meet relevant conditions are subsequently measured at amortised cost using the effective interest method.

The Charity uses derivative financial instruments to reduce exposure to interest rate movements. The Charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in the Statement of Financial Activities immediately.

2. Company, charitable and legal status of the Trust

The Together Trust, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The company is a registered Charity and has no liability to corporation tax on its charitable activities. The registered office is given on page 1.

3. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In respect of the defined benefit pension scheme, the Charity has an obligation to pay pension benefits to certain employees. The cost of these benefits and the present value of the obligation depend on a number of factors including life expectancy, salary increases, asset valuations and the discount rate on corporate bonds. The Trustees estimate these factors in determining the net pension obligation in the balance sheet. The assumptions reflect historical experience and current trends as set out in note 22.

Other than the above, the Trustees do not consider there are any other critical judgements or sources of estimation uncertainty requiring disclosure.

34

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

4. Analysis of income from donations

Donations

2022 2021
£’000 £’000
237 194

Government grants of £nil (2021 £29,000) are included within donations and relate to HMRC Coronavirus Job Retention Scheme.

5. Analysis of income from charitable activities

Social care services
Educational services
Other services		 2022
£’000
14,281
15,570
2,427
32,278		 2021
£’000
12,964
15,347
2,144
30,455

Government grants of £38,000 (2021 £179,000) are included within income from charitable activities (social care services) and relate to HMRC Coronavirus Job Retention Scheme.

6. Analysis of income from investments

Investment income
Bank interest
7. Analysis of other income
Net gain on disposal of fixed assets		 2022
£’000
9
15
24
2022
£’000
29
29		 2021
£’000
8
13
21
2021
£’000
25
25

35

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

8. Analysis of expenditure on raising funds

Staff and related costs
Service provision costs
Service administration costs
Other service costs		 2022
£’000
2021
£’000
125
148
10
4
6
3
35
43
176
198

9. Analysis of expenditure on charitable activities

Expenditure
Staff and related costs
Premises costs
Service provision costs
Service administration costs
Other service costs
Head Office support costs (note 10)		 Social Care
Services
2022
£’000
10,410
584
627
269
479
1,841
14,210		 Education
Services
2022
£’000
9,807
944
649
575
647
2,026
14,648		 Other
Services
2022
£’000
1,671
20
9
97
50
314
2,161		 Total
2022
£’000
21,888
1,548
1,285
941
1,176
4,181
31,019

Comparatives for the year ended 31 March 2021

Expenditure
Staff and related costs
Premises costs
Service provision costs
Service administration costs
Other service costs
Head Office support costs (note 10)		 Social Care
Services
2021
£’000
9,671
554
469
177
858
1,582
13,311		 Education
Services
2021
£’000
9,469
700
539
358
789
1,873
13,728		 Other
Services
2021
£’000
1,617
21
13
85
59
267
2,062		 Total
2021
£’000
20,757
1,275
1,021
620
1,706
3,722
29,101

Expenditure

Total expenditure comprises direct costs incurred in the delivery of Trust services and head office support costs which are apportioned between services. Direct costs include all direct staff, premises and service provision in the day-to-day delivery of the service. It also includes other costs related to the provision of the service at each location in respect of insurance, depreciation, and interest.

36

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

10. Analysis of Head Office support costs

Social Care
Services
2022
£’000
Staff & related costs
1,042
Premises costs
87
Office administration costs
358
Governance costs
119
Other costs
235
1,841
Comparatives for the year ended 31 March 2021		 Education
Services
2022
£’000
1,148
97
393
130
258
2,026		 Other
Services
2022
£’000
178
15
61
20
40
314		 Total
2022
£’000
2,368
199
812
269
533
4,181
Staff & related costs
Premises costs
Office administration costs
Governance costs
Other costs		 Social Care
Services
2021
£’000
884
82
267
111
238
1,582		 Education
Services
2021
£’000
1,048
97
316
130
282
1,873		 Other
Services
2021
£’000
149
14
45
19
40
267		 Total
2021
£’000
2,081
193
628
260
560
3,722

Head Office support costs allocation

There is a head office function, which provides all the support services of the Trust’s activities. These services include Communications and Marketing, Business Development, Finance, Human Resources & Organisational Development, IT services and Facilities Management and the services of the Executive Directors. Cost recovery apportionment is based on the level of income for each of the services.

37

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

11. Net income for the year

Net income for the year is stated after charging:

2022 2021
£’000 £’000
Auditor’s remuneration - audit 27 26
Auditor’s remuneration – other audit services 3 3
Interest paid on bank loan 20 23
Interest paid on interest rate swap contracts 40 41
Depreciation of owned assets 731 756
Rental under operating leases 35 99
Insurance 402 403
PR and marketing 133 142

These costs include central head office costs where applicable and have been allocated to activity costs on a basis consistent with income.

12. Other gains

2022 2021
£’000 £’000
Gains on interest rate swap contract 103 57

38

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

13. Analysis of staff costs and the cost of key management personnel

The average number of staff employed during the financial year, excluding relief and supply staff, amounted to:

Social care services staff
Education services staff
Other services staff
Other support staff
The aggregate staff costs were:
Wages and salaries
Social security costs
Pension		 2022
Headcount
No.
369
365
13
74
821
2022
£’000
18,325
1,660
1,503
21,488		 2021
Headcount
No.
401
376
15
74
866
2021
£’000
17,881
1,559
1,457
20,897

During the year the Trust incurred redundancy costs of £7,000 (2021 £13,000).

Although the Trust employs a pool of relief and supply staff to cover unforeseen absences, where this is insufficient to meet operational need, agency staff are employed in the short term. Agency costs for the year were £1,495,000 (2021 £871,000).

In addition to the above staff costs, foster carer fees amounted to £1,233,000 (2021 £1,171,000).

Employee emoluments over £60,000

The number of employees whose emoluments, excluding pension contributions and employer’s national insurance contributions, but including benefits in kind, were in excess of £60,000 was:

2022 2021
No. No.
£60,001 to £70,000 4 3
£70,001 to £80,000 - -
£80,001 to £90,000 1 1
£90,001 to £100,000 1 1
£100,001 to £110,000 1 1
£110,001 to £120,000 - 1
£120,001 to £130,000 1 -

The key management personnel are detailed on page 3. The total remuneration (including pension contributions and employers’ national insurance contributions) of the key management personnel of the Trust for the year totalled £504,000 (2021 £485,000).

Trustees’ remuneration

None of the Trustees receive any remuneration for their services to the Trust. During the year, no Trustees received reimbursement of expenses. In 2021, 1 Trustee received reimbursement of travel expenses incurred totalling £110.

39

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

14. Tangible fixed assets

Land and Property Motor Ancillary Total
Buildings Improvement Vehicles Equipment
COST £’000 £’000 £’000 £’000 £’000
At 1 April 2021 21,088 1,269 1,032 308 23,697
Additions 465 - 129 18 612
Disposals - - (114) (33) (147)
──────── ──────────────── ────────────────
At 31 March 2022 21,553 1,269 1,047 293 24,162
════════ ════════════════ ════════════════
DEPRECIATION
At 1 April 2021 3,214 1,259 706 226 5,405
Charge for the year 570 6 130 25 731
On disposals - - (111) (33) (144)
────────
────────		 ──────── ──────── ────────
At 31 March 2022 3,784 1,265 725 218 5,992
════════ ════════ ════════ ════════ ════════
NET BOOK VALUE
At 31 March 2022 17,769 4 322 75 18,170
════════ ════════ ════════════════ ════════
At 31 March 2021 17,874 10 326 82 18,292
════════ ════════ ════════════════════════

The land and buildings were last professionally valued by Bentley Higgs on 31 March 2014. The Trustees consider there to be no material change in value since that date. Properties other than specialised properties were valued on an existing use basis using a market value basis (for properties occupied for operational purposes). Specialised properties were valued on an existing use basis using a depreciated replacement cost basis.

Included within land and buildings above is a long leasehold property with a net book value of £4,706,000 (2021 £4,823,000). The Charity pays a peppercorn rent for the related land.

Certain property is pledged as security on the Charity’s bank loan. The net book value of these properties is £4,706,000 (2021 £4,823,000).

The comparable amounts for fixed assets included above at a valuation determined according to the historical cost accounting rules are:

Cost
Accumulated Depreciation
Net book value at 31 March 2022
Net book value at 31 March 2021		 Land and
Buildings
£’000
14,324
3,512
10,812
10,816

40

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

14. Tangible Fixed assets (continued)

List of charitable properties:

Property Description Corbar Road A 5 bedded residential service accommodating children and young people Crosskeys A 2 bedded residential service accommodating children and young people Haines House A 5 bedded residential service Schools Hill The main administrative centre for the Charity, which accommodates 60 staff. The campus also is home to the following Together Trust services: Inscape House School – a school for young people aged 5 – 19 years with autism. The school can accommodate up to 105 young people Ashcroft School – special education for young people with complex emotional difficulties aged 8 – 18 years. The school can accommodate up to 60 pupils Ashcroft College Specialist support and teaching in four vocational areas (including construction) to students aged 14 to 16 who may have been excluded or close to being excluded from mainstream education Bridge College Property held on long lease as a specialist further education college for students up to 25 years old with learning difficulties, disabilities and complex needs, communication disorders and autism Lerryn A 6 bedded residential service accommodating children and young people Meridian A 5 bedded short break service for young people with autism Newbridge A specialist day service provision Norvent A specialist therapeutic residential provision for two young people Pearce Lodge A 5 bedded unit for disabled young people aged 16 to adulthood Pendlebury House A shared care service for up to 6 young people with autism and behavioural needs Pocket Nook A 4 bedded service for children and young people with autism and other special requirements Swann Lane A 4 bedded service for children and young people Ventnor Road A 3 bedded service for children and young people Woodlands A 5 bedded short break service for disabled young people

41

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

15. Investments

Listed investments
UK listed investments
Movement in market value
At start of year
Additions
Disposal proceeds
Net investment (losses)/gains
Movement in cash held by investment managers
At end of year
Market value is analysed between:
Investments
Cash held by investment managers		 2022
£’000
976
2022
£’000
302
701
(21)
(26)
20
976
944
32
976		 2021
£’000
302
2021
£’000
262
30
(43)
43
10
302
290
12
302

Unlisted investments

The company’s investments at the balance sheet date in the share capital of companies include the following:

Subsidiary:

  1. Together (Trading) Limited Country of incorporation: England and Wales Date of Incorporation: 3 March 2005 Nature of business: Dormant

Number of ordinary shares

  1. BGWS (Trading) Limited Country of incorporation: England and Wales Date of Incorporation: 1 September 2005 Nature of business: Dormant

Number of ordinary shares

1 (100% holding) 1 (100% holding)

  1. Boys and Girls Welfare Society Limited Country of incorporation: England and Wales Date of incorporation: 6 May 2005 Nature of business: Dormant

Limited by guarantee

None of these companies has traded during the year (2021 same) and they are not consolidated in the financial statements of The Together Trust on the grounds of immateriality.

42

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

16. Debtors

Amounts falling due within one year:

Trade debtors
Prepayments and accrued income
Other debtors
Creditors: Amounts falling due within one year
Bank loans
Trade creditors
Accruals
Deferred income
Taxation and social security
Other creditors
Deferred income movement
Balance at start of year
Amount released in the year
Amount deferred in the year
Balance at end of year		 2022
£’000
2,215
747
1
2,963
2022
£’000
58
967
471
209
407
486
2,598
2022
£’000
2,681
(2,681)
209
209		 2021
£’000
6,290
733
20
7,043
2021
£’000
76
944
327
2,681
366
357
4,751
2021
£’000
2,984
(2,984)
2,681
2,681

17. Creditors: Amounts falling due within one year

43

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

18. Creditors: Amounts falling due after more than one year

Bank loans
Financial derivatives (see note 23)
The bank loan is repayable as follows:
Payable within one year
Payable between 1 and 2 years
Payable between 2 to 5 years
Payable after 5 years		 2022
£’000
750
131
881
2022
£’000
58
60
191
499
808		 2021
£’000
803
234
1,037
2021
£’000
76
68
205
530
879

The bank loan matures on 31 March 2031 and is secured on certain property (see note 14).

Interest was payable at a variable rate of LIBOR plus 2.25% on the principal amount during the year (2021 – same). Since the year end, this has this has transitioned to UK base rate following the discontinuance of LIBOR. Interest payable in the year was £20,000 (2021 £23,000).

The Trust is a party to an interest rate swap contract in relation to a financial derivative to manage its exposure to the risk of interest rate variation. Under this swap contract, the Charity has agreed to exchange the difference between fixed and floating rate interest amounts. This allows the Charity to mitigate the risk of changing interest rates and cash flows on the variable rate debt held. See note 23 for further details.

44

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

19. Comparative statement of financial activities

For the year ended 31 March 2021

Note
INCOME FROM:
Donations
4
Charitable activities
5
Investments
6
Other
7
TOTAL INCOME
EXPENDITURE ON:
Raising funds
8
Charitable activities
9
TOTAL EXPENDITURE
Net gains/(losses) on investments
15
Net income/ (expenditure)
Transfers between funds
Other recognised gains/(losses)
Actuarial gains/(losses) on defined
benefit pension scheme
22
Other gains/(losses)
12
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
Net movement of funds in the year
Total funds carried forward
20		 Unrestricted
Funds
2021
£’000
77
30,178

17

25
30,297

164
28,708
28,872
23


1,448

(10)


22

57
1,517



24,839
1,517
26,356
Restricted
Funds
2021
£’000
117
277
-
-
394


29
393
422
-

(28)

10


-

-
(18)


615
(18)
597		 Endowment
Funds
2021
£’000
-
-

4

-
4

5
-
5
20


19

-


-

-
19


121
19
140
Total
Funds
2021
£’000
194
30,455

21

25
30,695


198
29,101
29,299
43


1,439

-


22

57
1,518


25,575
1,518
27,093
Total
Funds
2020
£’000
239
29,540
25
14
29,818

211
28,479
28,690
(29)

1,099
-

(307)
(25)
767

24,808
767
25,575

45

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

20. Movement on funds

Unrestricted
General
Revaluation reserve
Designated
Unrestricted funds
Restricted funds
Endowment funds		 1 April
2021
£’000
15,295
7,057
4,004
26,356
597
140
27,093		 Income
£’000
32,394
-
-
32,394
168
6
32,568		 Expenditure
£’000
(30,672)
-
(308)
(30,980)
(210)
(5)
(31,195)		 Gains &
(losses)
£’000
57
-
-
57
-
24
81		 Transfers
£’000
(135)
(106)
276
35
(35)
-
-		 31 March
2022
£’000
16,939
6,951
3,972
27,862
520
165
28,547

Year ended 31 March 2021 comparatives

Unrestricted
General
Revaluation reserve
Designated
Unrestricted funds
Restricted funds
Endowment funds		 1 April
2020
£’000
17,461
7,162
216
24,839
615
121
25,575		 Income
£’000
30,297
-
-
30,297
394
4
30,695		 Expenditure
£’000
(28,722)
-
(150)
(28,872)
(422)
(5)
(29,299)		 Gains &
(losses)
£’000
102
-
-
102
-
20
**122 **		 Transfers
£’000
(3,843)
(105)
3,938
(10)
10
-
-		 31 March
2021
£’000
15,295
7,057
4,004
26,356
597
140
27,093

Unrestricted Designated Funds

These funds comprise:

46

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

20. Movements on funds (continued)

Restricted Funds
1.
Inscape grants
2.
Ashcroft
3.
Bridge Transitional fund
4.
Youth Music Fuse fund
5.
150th anniversary fund
6.
Miscellaneous		 1 April
2021
£’000
58
63
96
22
20
338
597		 Income
£’000
-
-
-
7
42
119
168		 Expenditure
£’000
-
-
-
(17)
(39)
(154)
(210)		 Transfers
£’000
-
-
-
-
-
(35)
(35)		 31
March
2022
£’000
58
63
96
12
23
268
520

2021 comparatives

1.
Inscape grants
2.
Ashcroft
3.
Bridge Transitional fund
4.
Youth Music Fuse fund
5.
150th anniversary fund
6.
Miscellaneous		 1 April
2020
£’000
58
63
96
36
48
314
615		 Income
£’000
-
-
-
27
-
367
394		 Expenditure
£’000
-
-
-
(41)
(28)
(353)
(422)		 Transfers
£’000
-
-
-
-
-
10
10		 31 March
2021
£’000
58
63
96
22
20
338
597

1. Inscape grants – Funds from grants for specific purposes for Inscape.

2. Ashcroft – Funds from Corporate supporters allocated to specific projects for Ashcroft School 3. Bridge Transitional fund - this is a fund for Bridge College, being grant monies from Central Government to enable Colleges to develop alternative income streams.

4. Youth Music Fuse fund – this is a fund for a project to support young people to enjoy and learn music across all Together Trust education settings

5. 150[th] Anniversary fund – a National Lottery funded project to celebrate the heritage and archive of the Trust’s 150 years of providing aid, assistance and care to children and young people

6. Miscellaneous – This represents a number of individual service funds, generally established from donations restricted for use by a particular service.

Transfers from restricted to unrestricted funds represents, where permitted, the transfer of funds which remain unspent following completion of the specific projects to which they related.

47

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

20 Movements on funds (continued)

Endowment Funds

Jubilee Trust Fund
Other funds
021 comparatives
Jubilee Trust Fund
Other funds		 1 April
2021
£’000
79
61
140
1 April
2020
£’000
70
51
121		 Income
£’000
5
1
6
Income
£’000
2
2
4		 Expenditure
£’000
(5)
-
(5)
Expenditure
£’000
(4)
(1)
(5)		 Gains &
(losses)
£’000
27
(3)
24
Gains &
(losses)
£’000
11
9
20		 Transfers
£’000
31 March
2022
£’000
-
106
-
59
-
165
Transfers
£’000
31 March
2021
£’000
-
79
-
61
-
140

2021 comparatives

Jubilee Trust Fund

This fund forms part of the Charity’s investment portfolio and, as a permanent endowment fund, the restrictions on capital and use of income must be followed and spent in accordance with the Jubilee Trust Fund objects. The Together Trust is the sole trustee of the Jubilee Trust Fund and the two charities are linked with The Together Trust being the reporting Charity for both.

Other Funds

These are expendable endowment funds held by the Charity to be used in accordance with the individual fund objects. These funds are as follows:

48

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

21. Analysis of assets and liabilities between funds

Tangible fixed assets
Investments
Debtors
Cash
Current liabilities
Long term liabilities
Total net assets
2021 Comparatives
Tangible fixed assets
Investments
Debtors
Cash
Current liabilities
Long term liabilities
Total net assets		 Unrestricted
2022
£’000
18,170
811
2,963
9,397
(2,598)
(881)
27,862
Unrestricted
2021
£’000
18,292
162
7,043
6,647
(4,751)
(1,037)
26,356		 Restricted
2022
£’000
-
-
-
520
-
-
520
Restricted
2021
£’000
-
-
-
597
-
-
597		 Endowment
2022
£’000
-
165
-
-
-
-
165
Endowment
2021
£’000
-
140
-
-
-
-
140		 Total
2022
£’000
18,170
976
2,963
9,917
(2,598)
(881)
28,547
Total
2021
£’000
18,292
302
7,043
7,244
(4,751)
(1,037)
27,093

49

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

22. Pensions

Together Trust Final Salary Scheme

The Charity operates a defined benefit scheme, the Together Trust final salary scheme. The provider of the scheme is The Pensions Trust. The Scheme became ‘paid up’ with effect from 31 March 2000.

This scheme is a separate Trustee administered fund holding the pension scheme assets to meet long-term pension liabilities. An actuarial valuation was carried out at 30 September 2018 and was updated to 31 March 2020 by a qualified actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.

The most recent completed actuarial valuation showed a deficit of £277,000 as at 30 September 2018. The Together Trust has previously agreed with the scheme’s Trustee that it would eliminate the deficit by the payment of contributions to de-risk the deficit and these payments have all been made.

The Trust has further agreed with the Trustee that it will continue to make payments to meet the expenses of the scheme and levies to the Pension Protection Fund.

Assumptions

The key assumptions used in the actuarial valuation were:

Discount rate
Inflation (RPI)
Inflation (CPI)
Allowance for revaluation of deferred pensions of RPI or 5% p.a. if less
Allowance for pension in payment increases of CPI or 5% pa if less
Allowance for pension in payment increases of CPI or 3% pa if less
 Valuation at
2022
2021
% per
annum
% per
annum
2.78
2.05
3.62
3.35
3.22
2.90
3.62
3.35
3.09
2.85
2.41
2.25
% of maximum allowance
2022
2021
75
75

Allowance for commutation of pension for cash at retirement

The mortality assumptions adopted imply the following life expectancies on retirement:

Retiring today:
Males
Females
Retiring in 20 years:
Males
Females		 Life expectancy at age 65
(years)
2022
2021
21.7
21.5
24.1
23.4
23.3
22.8
25.6
25.0

50

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

22. Pensions (continued)

The amount included in the balance sheet arising from the Trust’s obligations in respect of the defined benefit scheme is as follows:

Fair value of scheme assets
Present value of defined benefit obligations
Surplus in plan
Unrecognised surplus
Net asset recognised in the balance sheet		 2022
£’000
9,294
(8,951)
343
(343)
-		 2021
£’000
9,390
(9,311)
79
(79)
-

Movements in the fair value of scheme assets were as follows:

Fair value of scheme assets at start of year
Interest income
Return on assets excluding interest income
Expenses
Contributions paid by the employer
Benefits paid and expenses
Fair value of scheme assets at end of year
Bond type
Property
Other
Total assets		 2022
£’000
9,390
189
54
(69)
63
(333)
9,294
2022
£’000
5,840
1,075
2,379
9,294		 2021
£’000
9,559
216
(80)
(68)
63
(300)
9,390
2021
£’000
6,562
848
1,980
9,390

51

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

22. Pensions (continued)

Movements in the present value of defined benefit obligations were as follows:

Defined benefit obligation at start of year
Interest expense
Past service cost – plan amendments
Experience losses/(gains) on liabilities
(Gain)/loss on change of assumptions
Benefits paid
Defined benefit obligation at end of year		 2022
£’000
9,311
187
-
303
(517)
(333)
8,951		 2021
£’000
8,186
185
17
(45)
1,268
(300)
9,311

Amounts recognised in the Statement of Financial Activities in respect of the defined benefit scheme are as follows:

Expenses
Benefit changes
Interest income on assets
Interest cost on defined benefit obligation
Interest effect of asset ceiling
Net cost recognised within net income/(expenditure) for the
year
Return on scheme assets (excluding amounts included in net
interest cost) – gain/(loss)
Experience gains and losses arising on the scheme liabilities –
(loss)/gain
Effects of changes in the demographic and financial
assumptions underlying the present value of the scheme
liabilities – gain/(loss)
Effects of changes in the amount of surplus that is not recoverable (excluding
amounts included in net interest cost) – (loss)/gain
Total actuarial gains
Total cost relating to defined benefit scheme recognised in the
Statement of Financial Activities		 2022
£’000
(69)
-
189
(187)
(2)
(69)
54
(303)
517
(262)
6
(63)		 2021
£’000
(68)
(17)
216
(185)
(31)
(85)
(80)
45
(1,268)
1,325
22
(63)

52

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

22. Pensions (continued)

The Charity has participated in two (2021: two) pension schemes for its staff and these are described below.

(i) Teachers’ Pension Scheme

The Trust participates in the Teachers’ Pension Scheme (“TPS”).

The TPS provides pensions to teachers who have worked in schools and other educational establishments in England and Wales. The Scheme is an unfunded statutory public service pension scheme with the benefits underwritten by the Government. The Scheme is financed by payments from the employer and from those current employees who are members of the Scheme who pay contributions at different rates which depend on their salaries.

Every four years, the Government Actuary’s Department carries out a valuation of all unfunded public service pension schemes, including the Teachers’ Pension Scheme. The latest actuarial valuation of the TPS was carried out as at 31 March 2016 in accordance with The Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 (as amended).

The valuation report was published by the Government’s Actuary’s Department on 5 March 2019. The key results of the valuation and the subsequent consultation were that employer contribution rates were set at 23.68% with effect from 1 September 2019.

A full copy of the valuation report and supporting documents can be found on the Teachers’ Pension Scheme website at the following location:

https://www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuation-report.aspx

The TPS is a multi-employer pension scheme. The Trust is unable to identify its share of the underlying assets and liabilities of the scheme. Accordingly, the Trust has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Trust has set out above the information available on the scheme and the implications for the Trust in terms of the anticipated contribution rates.

The pension costs paid to the TPS in the year amounted to £679,000 (2021: £662,000) and have been recognised in the Statement of Financial Activities as an expense with £57,000 (2021: £54,000) outstanding at the balance sheet date. The liability and expense have been allocated in full to unrestricted funds. The allocation of the expense to activities is explained in note 9.

(ii) Group Personal Pension Plan

The Charity also provides eligible staff the opportunity to contribute to a personal pension through a Group Personal Pension Plan, which is a defined contribution scheme. It is made available to all staff excluding those eligible for the Teachers’ Pension Scheme. Provision of the scheme is made through pension provider Standard Life.

In the year ended 31 March 2022 the pension contributions payable in respect of staff participating in the Group Personal Pension plan was £814,000 (2021: £785,000) with £68,000 (2021: £65,000) outstanding at the balance sheet date.

53

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

23. Derivative financial instruments

The following table details the notional principal amounts and remaining terms of interest rate swap contracts outstanding as at the reporting date:

Outstanding contracts - receive floating pay fixed contracts

5 years + Average
contract fixed
interest rate
2022
2021
%
%
4.21
4.21		 Notational
Principal value
2022
2021
£’000
£’000
952
1,005		 Fair value
2022
2021
£’000
£’000
131
234

The Trust is party to an interest rate swap contract in relation to a financial derivative to manage its exposure to the risk of interest rate variation. The interest rate swap contract expires on 31 March 2031.

The fair value of the derivative is calculated by discounting the future cash flows to the maturity date of 31 March 2031. The product gives the Trust increased certainty over future costs and cash flows, and the liability should be considered within the context of the length of the loan period and interest rates existing when the loan agreement was made in December 2010.

The interest rate swap settles on a quarterly basis. The floating rate on the interest rate swap was three months’ LIBOR. As a result of the discontinuance of LIBOR, from 31 December 2021, the floating rate on the interest rate swap transitioned from LIBOR to UK Base Rate. The Trust settles the difference between the fixed and floating interest rate on a net basis.

Gains of £103,000 (2021: £57,000) in respect of the interest rate swap contract have been recognised in the Statement of Financial Activities.

54

Registered Charity Number 209872

Notes to the financial statements for the year ended 31 March 2022

24. Related party transactions

No Trustee received payment for professional or other services supplied to the Charity during the year (2021 £nil). There were no other related party transactions during the current or prior years that require disclosure.

25. Financial commitments

Capital commitments

Contracts for capital expenditure not provided for

2022 2021
£’000 £’000
82 -

Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases were:

-
due within one year
-
due between one and five years
-
due after five years		 Land & Buildings
2022
2021
£’000
£’000
4
33
-
9
-
-
4
42		 Other
2022
2021
£’000
£’000
15
12
16
17
-
-
31
29

26. Contingent Liabilities

The Charity has been informed by The Pensions Trust that some benefit changes in regard to the final salarybased pension scheme, which closed to new members in 2000, may not have been in accordance with the scheme rules. The Pensions Trust are seeking Court direction in relation to this, the outcome of which is not expected to be known until late 2024. If the Court directs these changes were made in a way not permitted by the scheme rules, then this would give rise to additional pension liabilities for the Trust in the future, which the Scheme’s Actuary has estimated to be in the region of £6.1m. This figure is estimated using actuarial assumptions derived using the Trustee’s Technical Provisions basis as at 30 September 2021 where this relates to service prior to the date of change and has been calculated from the preliminary results of the actuarial valuation as at 30 September 2021 allowing for market conditions at that date.

55

Registered Charity Number 209872

The Together Trust Togeth t Centre Schools Hill, Cheadle, Cheshire, SK8 1JE 0161283 4848 enquiries@togethertrust.org.uk A digital copy OF this publication togethertrustA>rg.uk/what-we-do TOGETHER TRUST