2022-03-31-accounts - Beaconwild Ltd

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The Board, Executive Officers and Advisers	The Board, Executive Officers and Advisers
Report ofthe	Board ofTrustees
Independent	auditors' report
Statement of	comprehensive income	18
Statement of	changes in reserves	19
Balance sheet		20
Statement of	cash flows	21
Notes tothe financial statements		22

The Board asat the date of	The Board asat the date of	The Board asat the date of	The Board asat the date of	Mr D Byrne FCII (Chairman)	Mr D Byrne FCII (Chairman)
approval	ofthis Annual	Report		Mr M Paris MBE MCIOB
				Miss JSorenson BA(Hons)		PGDipM		Chartered	Marketer
				Mr W Rendall ACII MA Oxon
Note: all	Board members are			Mr J Timbs FCMI
also trustees ofthe charay				Mr P Anderson LLB(Hons)		MBA
The following was also		a Board		Mrs L Phair MA, BSc(Hons)			Nursing	RMN RGN	DPNS (Deputy Chairman)
member during part of		the	year	Resigned 16/7/22
covered by this Annual		Report
Executive	Officers asat	the date		Mr N Taylor (Chief Executive			Officer)
ofapproval ofthis Annual			Report	Mr IThomas (Development			Director)
				Ms N Moss (Operations	Manager)
Company	secretary			Mr PAnderson LLB(Hons) MBA
Registered office and principal				Alfriston House
address				North Road
				Alfriston
				East Sussex BN26 SXB
				Registered Office address changed				in July 2022	to:
				Holdenhurst
				Mill Road
				Heathfield
				East Sussex TN21 OGG
Independent auditors				Lindeyer Francis Ferguson		Limited
				Chartered Accountants
				Statutory Auditors
				North House
				198High Street
				Tonbridge
				Kent TN9 1BE
Bankers				Barelays Bank pic
				63/67 Terminus Road
				Eastbourne
				East Sussex BN213NE

		No of	No of	No of	Changes since	31March 2021	31March 2021	31March 2021
		sheltered	social	non-social
		houses	housing	housing
			units	units
Eastbourne		16
Brighton &Hove		16			One unit has been
					transferred to generalneeds
					housing
Heathfieid					The house in Heathfield			has
					been demolished and
					development	ofa48 unit
					social housing	Extra Care
					residence was	in progress		and
					completed 06.04.22
Hastings					Closed due to	viability	and
					accommodation standards
Tunbridge	Wells	14
Alfriston

Risk							Mitigation
Strategic
The Charity	operates		in a complex,		fluid market		The Chadity	adopted a 10year strategic
dependent	on	numerous		external		factors,	plan 2016-2026 which was prepared
including	regulation,		competition,			customer	based on	sector research, analysis of
expectations	and	requirements		and the		economic	changes in	the	Chadity's defined area of
environment.							operation	and	the relevant experience
							ofthe trustees		and management team,
							particularly		knowledge of The
							Abbeyfield	Society and its strategic plan.
							The Charity is		currently preparing an
							update to	the	Strategic Plan covering
							2022-2032	for consideration and
							adoption by the		Board.
							The Board	has	approved a joint project,
							proposed by the		former Deputy Chairman,
							with the Association for Dementia Studies

										at the University ofWorcester, to develop
										and publish new models to support
										Independence and combat loneliness and
										isolation for older people. Research Grant
										Funding of the two year project of
										f114,000 has been allocated to this
										project by the Abbeyfield Research
										Foundation.
Financial		viability
Operations			continue		to	generate		sufficient		The Board agrees an annual financial
funds	to	provide		high	standard		services		and	budget on a timely basis and receives
maintenance			ofthe houses.							quarterly reports to monitor progress
										against expectations. All budget planning
										and major capital expenditure issubject to
										approval by the Board. The Senior
										Management Team receives monthly
										operations income and expenditure
										reports for review with the house staff.
										The Charity strives to maintain high
										residential occupancy levels by sustaining
										local awareness as to the benefits which
										the Charity has to offer those in need, in
										the communities we serve. Occupancy
										levels have been adopted as the primary
										KPI and as such are regularly reported to
										management and the Board.
Adequate		funding		is available		forthe		Holdenhurst		The Board has a Facility Agreement (FA)
development			project.							with Charity Bank and Big Society Capital
										to fund the development and provide for
										residual debt following completion. This
										was secured following exhaustive
										modelling to G2060 by the Charity and its
										advisers, the results of which were made
										available to the Board. Performance
										against the covenants within the FA are
										monitored quarterly internally and
										externally.

Reputation	Reputation	Reputation
The	Charity's			reputation				may		be impacted				by	Services	are continually reviewed and
inadequate			safeguarding				of		residents,				a fall	in	monitored		by the Senior Management Team
service			standards				and				deteriorating				with support and regular scrutiny by Board
accommodation.															members.	Operating Policies are developed,
															logged and implemented as required.
															Policies for residents, including a clear
															complaints		procedure, are in place for use by
															residents.
															The Board		has adopted a clear policy and
															process to	safeguard all residents and staff.
															Members ofthe Board are actively engaged
															with The		Abbeyfield Society, to which
															Abbeyfield		South Downs is affiliated, and
															contribute		to developments at a national
															level.
															The Board		commissioned an independent
															maintenance		survey of all houses and has
															adopted a		10 year planned maintenance
															programme		to ensure compliance with
															accepted standards. A review/update ofthe
															survey is currently under consideration.
People
The	success		ofthe		Charity		is	dependent				on itsstaf			The Board		support the management team
and	volunteers.				The	welfare				of	the		staff and		to ensure appropriate policies and
residents		is	of	central		importance					to	successful			procedures		are in place to protect the
operations.															health and		safety of staff and residents at
															all times.
															The Charity		is committed to being both a
															Living Wage and equal opportunities
															employer.
The	Board	and		management					team		must		have	an	The Board		regularly assesses its own
appropriate			mix		of	skills		to		oversee			existing		composition		and diversity to ensure an
operations		and		future		plans.									adequate		mix of skills. Experience is
															present to		direct the Charity and provide
															substantive		support to the management
															team.

				2022
Turnover
		2	862,707	969,103
Operating expenditum		2	(1,064W5)	( 912,602)
Operating (degclt) / surplus			( 201,728)	56,501
interest receivable			73
Other income			1,150
Gain on sale ofproPerty			133,810
(Defldt) / surplus on onllnary	acdvltles forthe year and total		( 66A95)
comprehensive income

			income ond
				Endowment
			expenditure		Total
				reserve
			reserve
Balance at 1April 2020			7,837,833	246,889	8,084,722
Total comprehensive	income for the year		57,274		57,274
Transfer from endowment		reserves	3,384	(3,384)
Balance at31March	2021	and 1April 2021	7,898,491	243,505	8,141,996
Total comprehensive	income forthe year		(66,695)		(66,695)
Transfer from endowment		reserves	3,384	(3,384)
Balance at 31March	2022		7,835,180	240,121	8,075,301

								2022	2021
								6
Net cash generated / (absorbed) from		operating		activities			A	376,178	( 145,556)
Cash flow from investing	activities
Purchase oftangible fixed	assets							(1,874,377)	( 7,053,993)
Proceeds from sales ofproperties								608,377
Interest received								73	773
Net cash used in investing	activities							(1,265,927)	( 7,053,220)
Cash flow from investing	activities
Grants received								226,721	2,317,267
Loans received								911,214	3,794,662
Net cash provided by investing activities								1,137,935	6,111,929
Net increase / (decrease)	In cash and	cash equivalents			and	change in net	funds	248,186	(1,086,847)
Cash and cash equivalents	atthe beginning		ofthe	year				1,242,811	2,329,658
Cash and cash equivalents	atthe end	ofthe year						1,490,997	1,242,811
Cash and cash equivalents	consists of:
Cash at bank and in hand								1,490,997	1,242,811
A. Reconciliation ofnet	cash generated		from	operating		activities
Cash flow from operating	activities
(Deficit) / surplus forthe year								( 66,695)	57,274
Adjustments for non cash	items:
Depreciation								91,727	89,943
Decrease / (increase) in debtors								1,346	(3,404)
Increase / (decrease) in creditors								483,683	( 288,596)
Adjustments for investing	orfinancing	activities:
Gain on sale ofproperty								( 133,810)
Interest receivable								(73)	( 773)
Cash generated / (absorbed) from operating			activities					376,178	( 145,556)

Freehold	50years straight	line
Roofs	40years straight	line
Windows	25years straight	line
Kitchens	10years straight	line
Lifts	15years straight	line

Turnover and costs
				2022f	2021
Rent receivable
Social housing				1,014,035	1,076,114
General housing				23,036	23,568
Void losses
Social housing				( 177,015)	(149,357)
Amortised government		grants		400	400
Turnover from housing		lettings		860,456	950,725
income from other activities
Coronavirus Job Retention Scheme			grants	1,719	11,178
Sundry				532	7,200
Total				862,707	969,103
Operating costs from social housing activities:
Management expenses				693,059	586,250
Property maintenance	and refurbishment		costs	90,076	70,854
Depreciation of housing		properties		56,289	56,289
Other costs				225,011	199,209
Total				1,064,435	912,602
ftet deficit from housing		activities		( 201,728)	56,501

(Deficit) / surplus on ordinary	(Deficit) / surplus on ordinary	activities	activities	activities		2022f	2021 E
This is stated after charging:
Depreciation ofhousing	properties					56,289	56,289
Depreciation ofother tangible		assets				35,438	33,654
Auditors' remuneration	for audit					7,800	7,800
Auditors' remuneration	for non-audit			services		5,486	7,030
Staff costs and key management			personnel
						2022	2021
						6	E
Wages and salaries						442,435	401,462
Social security costs						34,339	30,340
Other pension costs						15,619	9,595
						492,393	441,397
The average number of	employees		forthe year based on monthly		headcount	is as follows:
						2022	2021
						Number	Number
Housekeeping						30	27
Administration						3	4
						33	31

Tangible Bx	ed assets
			Housing	Housing	Fixtures,	Total
			Properties	Properties	fittings and
				under	equipment
				development
				f
Cost
At 1April 2021			3,620,747	12,687,703	406,186	16,714,636
Additions				1,856,928	17,449	1,874,377
Disposals			( 510,000)		( 50,840)	( 560,840)
At 31March	2022		3,110,747	14,544,631	372,795	18,028,173
Depreciation
At 1April 2021			632,337		188,222	820,559
Charge forthe year			56,289		35,438	91,727
Depreciation	eliminated	on disposal	( 68,559)		( 17,714)	( 86,273)
At 31March	2022		620,067		205,946	826,013
Net book value
At 31March	2022		2,490,680	14,544,631	166,849	17,202,160
At 31March	2021		2,988,410	12,687,703	217,964	15,894,077

			2022 E	2021f
Rent and service charges receivable			4,859	11,866
Prepayments and accrued income			8,608	2,947
			13,467	14,813
Creditors: amounts	falling due within one year
			2022	2021
			E	E
Government grants			115,322	11,068
Trade creditors			131,603	237,848
Rent and service charges received in advance			28,756	27,465
Accruals and deferred		income	234,044	12,504
Bank loans			261,362	24,828
Other creditors			2,151
			773,238	313,713
Deferred grant income
			2022f	2021 E
At 1April 2021			4,912,398	2,595,531
Grants received			331,375	2,317,267
Released to income	in	the year	( 400)	( 400)
At 31March 2022			5,243,373	4,912,398

The movements on	recycled capital grant is as follows:
		2022f	2021
At 1April 2021		4,152,267	1,835,000
Grants received		331,375	2,317,267
At 31March 2022		4,483,642	4,152,267
Creditors: amounts	falling due after one year
		2022f	2021f
Bank loans		4,705,876	3,794,662
Government grants		5,128,051	4,901,330
Other creditors		24,158
At 31March 2022		9,858,085	8,695,992

Housing sto	ck
			2022f	2021
The number	of units in management	at the end ofthe year were:
General housing - social rent			3	3
Supported	housing		55	62
			58	65

At 31March 2022 the charity had capital commitments
	2022	2022
	6	6
Contracted for but not provided for in the financial statements		999,187

Current year	Current year	Balance at1	Income	Expenditure	Transfers	Balance ot31
		April 2021				March 2022
Permanent	endowment
Angus Lodge endowment		243,505			(3,384)	240,121
fund
Prior year		Balance at 1	Income	Expenditure	Transfers	Balance at31
		April 2020				March 2021
Permanent	endowment
Angus Lodge endowment		246,889			(3,384)	243,505
fund

				2022	2022	2021	2021
				6	6	f	6
Turnover
Social housing lettings					837,020		926,757
General needs rent					23,036		23,568
Amortised government		grants			400		400
Coronavirus Job Retention Scheme grants					1,719		11,178
Sundry					532		7,200
					862,707		969,103
Administrative expenses -			management
House staff costs				363,204		316,887
Staff training				2,373		2,609
Food and other household			costs	94,731		102,015
Water rates				10,181		11,901
Counciltax				13,429		12,749
Electdicity				25,162		24,436
Gas				44,670		20,292
Insurance				24,407		9,605
Cleaning				7,924		5,084
Advertising				25,336		14,914
Lifeline				26,614		15,777
Telephone				18,768		15,334
Television licence				822		993
Depreciation offixtures		and fittings		35,438		33,654
					( 693,059)		( 586,250)
Administrative expenses - other
Administrative staff	costs			153,152		138,190
Printing, postage and stationery				23,803		8,955
Travelling expenses				4,041		1,639
Legal and professional fees				4,574		4,074
Auditors' non-audit	fees			5,486		7,030
Audit fees				7,800		7,800
Affiliation fees				16,162		17,804
Bank charges and interest paid				157		100
Bad debts				2,178
Sundry expenses				7,658		13,617
					( 225,011)		( 199,209)
Repairs and maintenance
Routine maintenance				90,076		70,854
Depreciation ofhousing		properties		56,289		56,289
					( 146,365)		( 127,143)
.Interest receivable				73		773
Gain on disposal ofproperty				133,810
Other income				1,150
					135,033		773
(Deffclt) / surplus for the year					( 66,695)		57,274