Company No: 00326093 Charity No: 219215 Mountlands Trust Limited (Company Limited by Guarantee) Trustees, Report and Accounts For The Year Ended 28 February 2021 Qmha MOORE & SMALLEY
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) CONTENTS Pagè Company informats'on Trustees, annual report Independent examiner's report Statement of financial activities Balance sheet Statement of cash flows Notes lo the accounts 12
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) COMPANY INFORMATION Trustees Mr F R Drake {deceased 16 May 2021) MTS H M J Bishop Mrs G C Wood5-Jack Mr5 H Davies Ms A J Hughes (Chair} Ms R S Kennedy {Deputy Chair} Company S8crgtsry Mr S N Breadey Christian Sci8nc• Nursing Manag8r Mrs J A Brearley Admlni$trator Mr S N Brearfey Rogl$tor•d offlce Lime Tree House 264 washaY Road Sale Cheshire M33 4RZ Company nUMr 00326093 Charlty nUMr 219215 Indop8nd•nt •xamlnor Christine Wilson FCA DChA MHA Moore and Smalley Chartered Accountants & Statutory Auditor Richard House Winckley Squa PTeston PR1 3HP Investment manager James Brearfey & Sons Limited Walpole House Unit 2. Burton Road Blackwol FY4 4NW
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2021 The trustees, who are also directors the purposes of the Companies Act. have pleasure in presenting their report (incorporating the directors, report) and the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the Prowsions of the Statement of Recommended Practice ISORPI Accounting and Reporting by Charrtie3" IFRS 1021 in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance wth the accounts'ng policies set out in notes lo the accounts and comply with the charity's goveming document. the Charities Act 2011 and Accounting and Reporting by Charities." Stslement of Recommended PractKe applicable lo charities preparing their accounts In accordance with the Financial Reporting Stsndard applicable in the UK and Repubtic of Ireland published in October 2019. Structure and governance Mounllands Trust Limited is a Company I'lhe eompany'l incorporated under the Companies Act on 31 March 1937, limited by guarantee and not hawng a share capital. The company is governed by rts Memorandum of Association and Articles of Association dated 15 January 1937. New Arbcles using the Charity Commission's standard model were adopted in January 2018. These consolidaled a change introduced in the 1980's that the directors are the only company members. The articles provide for a minimum of 3 directors and a maximum of 6 directors. The company acts as a chanty an¢J does not participale in public fvndraising events. 11 derives its income from pats'enl contributions towards their Care. patsenl benevolent grants from -The Aid Fund for Chri$lian Scienlisl$ in Need of Nursing Care" and other similar trusts, donations from churches and individuals. as well as income from investments and legacies. The Iruslees who have served during the year are listed on the infomalion page. Trustees are recruited by invitats'on based on the skills needed andlor to keep a balanced representation from different areas within the North West of England which is the main area served by the charity. Appointmenl is made by majorrty vote at a General Meeting of the charrty. The Charity has policies and procedures in place lor trustee induction and training along with a Iruslee indu¢tion pack whi¢h are regvlarty reviewed. Unless olherwse determined by the charity in general meeting, trustees serve lor a lemi of three yeafs and shall be eligible for re-appointment for three further terms of three years. A Iruslee who has served for four n$U'Ve lemis of three years shall not be eligible for re- appointment. The Trustees are responsible for the overall management of the charity. for Strategic development and for agreeing policies and usually meets monthly. They keep up lo dale with current legislation and govemance. Daily management of the care home is delegated to the Christian Science Nursing Manager and the Administrator. The pay and remuneration of these key management personnel are reviewed and set bi.annually by the trustees in relation to a fvll staff pay review done al the same lime and Is gOVerr by what the charity can afford. ObJectlve$, A¢tlvltle$ and hl$tory of Ihg Charlty The main activity of the charity is the operation of Lime Tree House, a Christian Science nursing facility based on Christian Science pnnciple5. Lime Tree House wa5 opened to patients in September 2003 wth four Christian Science nursing rotsms. The small size and use of a converted bungalow was to make the nursing care as homelike as possible. Each nursing room 1$ rfIent in shape. size and colour scheme. In 2013 the charity completed a major extension and refurbishment project, named the Meadows Project. This increased the Christian Science nursing rooms to 6, added a lounge and conservatory overtooking a ne%Y landscaped rear garden and added a laundry room and much needed storage and office space. In 2017 the charity completed another major project, named the Attic project, to make use of all the roof space to enhance the charity's operational efficiency. Lime Tree House was registered with the Commission for Social Care Inspection ICSCII as a 'care home not providing medicines or medical treatmenf. On 1 October 2010 the CSCI was replaced by the Care Quality Commission ICQCI under the Health & Social Care Act 2008. Lime Tree House is now registered with the CQC under the registered activity of -A¢¢ommodation for persons who require nursing or personal care.. Lime Tree House is a member of the wod(kwde 'Association of Organizations of Christian Science Nursing Inc"
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORTI (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 Lime Tree House is accredited as a Christian Science Nursrng facilrty by Yhe Commission for Accredrtalion of Christian Science Nursing OrganisatsonslFacilities Inc" based in the USA. ¥thich reviews each OrganisationlFacility every three years. It has been accredited since opening in 2003. This accredrtation also allows patients using Lime Tree House lo access benevolence from The Aid Fund for Christian Scientists in Need of Nursing Care" The aim of the charity is lo provide high qualrty Christian Science nursing Ca lo support patients who are relying on Christs'an Science for healing. The charity does not use volunteers. Success is measured by the letters of gratitude from patients and their relatives and by recognition of our high standards from the various bodies that inspect the thanty. Achiovamènts and pgrformanc• Thi5 year is the sevenleenlh full year of operation for Lime Tree House. The Commi$$lon for A¢¢rgditalion of Christian S¢l¥n¢¥ Nursing OrganisationslFa¢ilitio$ Inc.. In February 2020 this body reviewed Lime Tree House and granled a fvrther 3 years accreditation from May 2020. CQC Inspoctions: These are all 'un4nnounced" Al COC Inspection Report5 are available on the CQC web511e, or via the CQC link on our website. The last Inspethon was on 3 August 2017 ¥there "me Tree House maintained the following ratings given by the CQC at their previous inspection on 7 May 2015.. Overall rating lor this service.. Good. Is the service safe? Good. Is the service effective? Good. Is the service caring? Outstanding. Is the service responsive? Good. Is the seNice well-led? Good. Our next inspection was due by August 2020 bvl due to the global pandemic the cac suspended inspections. In July 2021 the CQC stsrted fjirect monitoring of Care Homes and have since then emailed the following each month.. 'We have not found evidence that need to tarry out an inspectK)n or aSSeSS our rating al this stsge. This could change al any lime if we receive new infomialion. We 11 continue lo monitor data about this service. Please note. this does not amount to an a$sessmenl of the ratsng for this seryice under $e¢lion 46 of the Health and Social Care Act 2008.. Christian S¢ion¢o nurning car•.. The aims for the financial year ending 26 February 2021 were.. lo eonlinue to find ways of improving our service; to continue the training of our two Christian Science sludenl nurses. Christian Scionco Nurslng Occupancy: Our seventh full year of operating with 6 rooms was lower than the previous year due to the effects of the global pandemic. It was 68.1% compared with 82.6%12020185.3%120191, 87.5%120181, 710A120171. 71 %120161 and 83%120151. Stafflng.. During the year the team remained unchanged and continued to work very well together. This consistency enables a high siandard of care to be given to palients. Staff suggestions are encouraged and have resulted In some of the improvements listed in the Maintenan seth"on. Vlsiting Chrlstian Sclenco Nursing Sèrvico IVCSNSI: The aim lor the financi31 year ending 28 FebrLJary 2021 was to recruit a manager pursuant to re-opening the semce. This was not done due to the effects of the pandemic. Patient Income including Aid Fund C.S. nursing grnnts (see note 3 on page 161" This was £288,930 for 2021 and lower than the previous year due lo the global pandemic ducIng oc¢upancy. Previous years were £310,915 120201, £305.295 120191. £325.980 120181. 214.093 120171. £247.813 120161 and £268.823 120151. Additional grants of £40.664 were received to help mrtigate the costs of working ¥thin the pandemic regulations.
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORTI (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 Support from thè Christian S¢ièn¢• ¢ommunlty Isee note 2 on page 161: Donatr'ons and legacies for 2021 were £276.750, £27,312 of this was a donation restricted to Christian Science nurses working under the Covid-19 regulations and £3,600 was restricted for employee PPE also required by the Covid-19 regulations. Comparative amounts from past years were £169,737 12020) the lowest figure to date, £535,206 120191 the highest figure to date, £354,975120181, £426,371 120171, £213,92912016} and £256,60312015k. Open Meetings.. Due lo the global pandemic the 2020 Open Day was livestreamed on November 15th and 19th with the inspirational talk given by Philippa Chatterley CS. Malntenan¢• & Improv•m•nt$: The Solar Panels continue to dCe the amount of ele¢tricrf(y purchased by 30% each year. The inslallalion ol a Ceiling track hoist system in a further 3 patient rooms. as planned. has greatly benefited both patients and Christian Science nurses. The install*ion ol two more air conditioning units in pab'ent rooms has enhanced the patient experience. The addibonal rooms in the roof space provided by the Attic Project continue lo be an a5sel in providing Storage, a meelingltraining room and staff accommodation. The pandemic regulations ne¢essrtaled the poslponemenl of the kitchen refurbishment lo a future year. A second Foster freezer and a third bed turnin9 System were purchased tx)th as planned. The stsff suggesb'ons of three cycle shelters and a rear door rain canopy planned f¢y this finan¢ial year were postponed and done in the next finan¢ial year when the pandemi¢ restrictions had eased. Plans for futurg perlod$ Christian Scionc8 nursing car8: The aims for the financial year ending 28 February 2022 are.. lo continue to find ways of improving our service and further develop our training for Christian Science student nurses. VS•ltlng Chrlstlan S¢l•nc• Nurslng S•r41c• IVCSNS): The aim for the financial year ending 28 February 2022 18 to monitor the effects of the pandemic and govemmenl legislation and rewew the plans for reinstating this service. Malntenance & Improvements: The krtchen refurbishment and new heating Source for the building will be reviewed in early 2022. Govgmance: Trustees and employees to maintain "C¢)nlinuing Professional Development. and keep up lo dale with changing legislation and work pra¢ti¢e$ and $kil$. Open Mèèting$.' Due lo the global pandemic the 2021 Open Day was livestreamed on November 23rd and 26th with the inspirational talk given by Madelon Maupin. Publlc Bon8flt'. Throughout planning the company's past and future activrties, the trustees kept in mind the Charity Commission's guidance on the public benefit. The completed Meadows extension project and the Ath'c project are examples of this. Flnan¢lal rgvlew At 28 February 2021 the charity had reserves of £1,564,637. £71,104 of this was restricted with £45,605 from one donor for our dormant Visiting Christsan Suence Nursing Service. Overall reserves have decreased In the year from 28 February 2020 when the charity had reserves of £1.682,608. £47.499 of this was reslricled wrth £46,445 from one donor for our dormant Ifisibng Chrisban Science Nursing Service. The principal funding sources are listed under Risk Management and how they support the charty's key objectives 15 detailed under'Results- below. R•sarvas polScy: Our aim is to hold free reserves amounting to at least six months running expenses laround £330,000) but hold more than this in order to have the abilrty to cope wth fluctuating voluntary income or occupancy. The Trustees monitor this and have a strategy place to increase the level of reserves if necessary.
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORTI (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 Rosults.. The details of the Charity's income and expenditure for the year and its net assets al 28 February 2021 are on pages 8 and 9 of the accounts. The charity generated a net loss of £135.406 for the year (before investment adjustrnentsl compared to a loss of £168,98512020}, surpluses of £211,159 {20191, £119,132 120181 and £12,827120171, a loss of £169,53912016) and a surplus of £29,825120151. The unrestricted funds of £403.333 (see note 15 on page 221 held al 28 February 2021 represent free reserves amounting to 16.5 months running expenses at average income levels, or 7.3 months running expenses with no income. This is a decrease of £134,026 on the fund held at 29 February 2020.The company has in place, as for previous years, detailed operational budgets for the coming year, %thich will be constantly reviewed in conjunction with our reserves policy. Income from donations and 18gacio8 (see note 2 on page 16).. The trust generally requires donats'ons and legacies of approximately £340,000 in a year to balance income and expenditure. Of the £276,750 received £27,312 was a donation reslncted lo Chri5tsan Science nurses working under the Covid-19 regulation5 and £3,600 was restricted for employee PPE also required by the Covid-19 regulations so the nel income figure lo Compare with the required £340.000 is £245,838. The drfference between these two fi9ures accounts for £94.162 of the loss in the year. Income Irom Charltsbl• Actlvltl•$ (see note 3 on page 16}". A drop of 14.4% occupancy due lo the pandemic reslriclions indicates a loss of lee inc(yne of £47.000. This added to the fact that donation income did not exceed £340.000 accounts for the overall loss of £135.41% in the year lo 28 February 2021. Expfrndlturo on Charftablo Actlvltl•s (see note 5 on page 171.. Expenditure increased by £102,857 mainly due to the effects of the pandemic and mainly in employee costs. 11 As previously noted a restncted donation 01 £27.312 was paid to Christian Science nurges working under the Covid-19 regulations so this accounts fof £27.312 of the increase. 21 Additional employee payroll Costs incurred due to the pandemic amounted to £72,403 Covering self- isolation, lurfough,. situations not covered by lurlovgh. speualised roster working and gratitude payments for employees working in these unpre¢edenled ndItiOnS. 31 As previously noted grants of £40.664 were received lo help miligale the addrtional employee and PPE COg1s due lo the effects of the pandemic and have completely fulfilled that purpose. In addition donations of £3,600 were received for the same purpose. CJRS grants and SSP rebates of £6,224 were claimed in the period. Invostments: The charity's investment objectives are to generate more relum on the capital than il would generate in COIF or a high interest bank account whilst protecbng the capital. The income generated is reinvested. The portfolio has been managed in line with our broker's High Yield collects.ves model which Is low nsk. bul in May 2019 this was changed to their Defensive lower risk model to wotect the capital. The trustees meet quarterfy with the broker. The portfolio continues to meet ts objectives. Risk management The Iruslees rewew the major operational risks vA)ich the charrty faces and confim that systems are in place lo mitigate these risks. Professional advisers are empowered to act on their behaw. The principal risks and uncertainties have been Teferred lo in other seth.ons of this Teport and are beyond the direct control of the charity. They are income and stsffing. Inme falls into the areas al donations and legacies, bl directly paid patient fees, cl benevolent grants to patients for their fees. The latter two depend on the variability of the level of patient demand. the level of their care needs and vknat they can reasonably afford to pay towards their care. The charity's Reserves Policy is designed to mits'gate these risks as it has done in the year to 29 February 2020 which saw one of the lowest figures for (Jonalion5 and lega¢ie5 received, yet the reserve remains over the £330,000 mark.
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORTI (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 The global pandemic has been referred to in other se¢lion$ of this report and 1$ a further principal risk and uncertainly that is also beyond the direct control of the charity. This was an unforeseen risk. Its effect has been reduced income and increased staff and PPE costs. The charity is grateful for specrfic donations and grants that lo help mitigate these cos15. The charity is also grateful for specific grants to help wth the extra staff c051s. These costs are being monitored. Income is again likely to be dUCed by £45,000 10 £60.000 due lo two patient rooms having to be used for staff to meet the social distsncing and PPE requirements for care homes. The charty actively promotes the recruitment and training of Christian Science nurses. 11 has policies and procedure in place lo ensure a hoh stsndard of care and high complon¢e regulations. Small company provisions This report has been prepared in accordance wth the special provisions for small Companies under Part 15 of the Companies Act 2006. 2911112021 Approved by the Iruslees on Signed by order of the trustees Allson J Hughes: Chalr of the Trustsos Registered office.. Lime Tree Htsuse 284 Washway Road Sale Cheshire M33 4RZ
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOUNTLANDS TRUST LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2021 I report to the charity trustees on my examinatson of the accounls of the company for the year ended 28 February 2021 which are sel out on pages 8 to 23. Rg$pon$lbllltlo5 and ba$ls of roport As the charity trustees of the company (and also its directors for the purposes of cornpany lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'lhe 2006 A¢t'i. Having satisfied mysew that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indepondont oxamin•rfs statemont Since the company's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualffied lo undertake the examination be¢au$e l am a member of the Inslrtule of Charted Accountants in England and Wales, vthi¢h is one of Ihe listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection the examination giving me Cause to believe that In any material fespecl.. accounting records were not kept in respecl of the Company as required by $e¢lion 386 of the 2006 Act., or the accounts do not accord th those records,. or the accounts do not comply wlh the accounting qUIrementS of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, lch is not a matter considered as part of an independent examinatson., or the accounts have not been prepared in accordance the methods and principles of the Statement of Recommended Prath'ce for accounling and reporting by charities lapplicable to charities preparing their a¢¢ounls in ac¢ordan¢e wrth the Financial Reporting Stsndard appli¢able in the UK and Republi¢ of Ireland IFRS 10211. I have no concems and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Christine Wi150n FCA DChA MHA Moore and Smalley Chartered Accountants Preston 2911112021
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 28 FEBRUARY 2021 Unrnstrictgd funds Rastricted Totsl funds Total funds funds 2021 2020 Nots Incom8: Donations and legacies Charitable activities Investment income Other Income- CJRS grants 245,838 288.930 6.121 6.224 30.912 80,788 278,750 369,718 6,121 6,224 169,737 341,415 10,225 Total income 547.113 111.700 658,813 521.377 Exponditurg: Expenditure on charitsble activities 719,266 74,953 794,219 691,362 Total •xp•ndltur• 719.266 74,953 794,219 691,362 Not Incomlnglloutgoingl re8ourcos b•forn othor galn$ and Iosso$ 1172,1531 36.747 1135,4061 1169,9851 Unrealised gain Ilossesl on investments Realised gainslllossesl on investments 17.741 13061 17,741 13061 15,0971 3.890 N9t Incomgllexpendlturg) 1154,7181 36.747 1117,9711 1171,1921 Transfers betsveen funds 13,142 13,1421 Net mov•mont In funds 1141,5761 23,605 1117,9711 1171,1921 Rèconciliation of funds: Funds balance brought forward 1.635.109 47.499 1,682,608 1,853.800 Funds balanc• carrl•d forward 1,493,533 71.104 1.564,637 1,682.608 The charity has no recognised gains or losses other than the results for the year as set out above. All of the ath'vities of the Charity are ¢lassed as ¢onlinuing.
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 28 FEBRUARY 2021 Unrestricted funds Restricted Totsl funds Total funds lunds 2021 2020 Nots Fixed assets Tangible assets Investments 1.133.208 271.333 691 1,133,899 271.333 1,139,568 254,176 1.404,541 691 1,405,232 1,393,744 Currnnt assets Oebtors Cash at bank 10 55.539 95,569 55,539 165.982 33,816 320,760 70,413 151,108 70,413 221.521 354,576 Credltors: amount falllng du• wbthin one ygar 11 162.1161 162,1161 165,7121 Net ¢urr•nt a$8•ts 88.992 70,413 159.405 288,864 Total a$*ets l•$$ curr•nt Ilabllltl•• 1.493.533 71,104 1,564.637 1,682,608 Credltor8: amounts falllng due after moro than one year Net a880ts 1,493,533 71,104 1,564,637 1,682,608 Funds Restricted Unreslricleil Oesignated 14 15 15 71,104 71.104 403.333 1.090.200 47,499 537.359 1,097,750 403.333 1.090.200 Total funds 16 1,493,533 71,104 1,564,637 1,682,608
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) BALANCE SHEET Icontinugdl AS AT 28 Fèbruary 2021 For the year ended 28 February 2021 the company was entilled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilrties". The members have not required the Company lo ¢)btsin an audit of its a¢¢ounls for the year in question in accordance wffh section 476,. and The directors acknowledge their responsibilities for complying with the requirements of the Act v respect lo a¢counling records and the preparab.on of accounts. These accounts have been prepared in accordance the prowisions applicable lo companies subject lo the small companies regime. These ac¢ounls were approved and authorised for issue by the trustees on signed on their behaw by". 2911112021 and are Allson J Hughes: Chalr of the Trusts•s Company Regi$lralion Number.. 00326093 -10-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2021 2021 2020 Cash flows from operating activities: Net cash provided byllused in) operating activitses 1141,0061 1135,2571 Cash flowa from investing activities Investment income Proceeds from the sale of tangible fixed assets Purchase ol tangible fixed assets Purchase ol fixed asset investments Proceeds from the sale of fixed asset investsnents 6.121 10,225 120,1721 193,2771 93,SS6 123,9191 1224,2241 229,743 Not cash used In Inv•stlng •ctlvbtbè¥ 113,7721 18,1751 Cash flows from flnancing activities Repayment of hire purchase agreemen15 Not cash uJ•d In flnanclng actlvltl•• Not Idecroas•lllncr•ase In Cash and Cash ¢qulvalents 1154,7781 1143,4321 Cash and cash equivalents brought forward 320,760 464,192 Cash and ¢a¥h gqulvalgnts corrled fopward 165,982 320,760 Cons18tlng of.. Cash in hand 22 68 Cash al bank 165,960 320,692 Totsl cash al bank and in hand 165,982 320,760 Nel incomellexpendilure} for the year 1117,9711 1171.1921 Investment income received Loss on disposal of tangible fixed assets L05sesllgainsl on investments Depreciation of tangible assets Ilncreaselldecrease in debtors Increaselldecreasel in Creditors 16,1211 110,2251 1,325 1,207 25,570 13,5491 21,607 117,436) 25,841 121,7231 13,5961 Nat cash provided byllused inl operating activitigs 1141,0061 1135,2571
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2021 Accounting policies Ba$ls of pr•paratlon The financial ststements have been prePad under the historical cost Convention, as modified by the revalualion ol investments. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their ac¢oun15 in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021 isstjed in October 2019. the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS1021 and the Companies Act 2006. The charity meets the definrtion of a public benefit entity under FRS102. The financial statements are prepared in sterfing vknich is the functional currency of the chanty and are rounded to the nearest £1. The particular accounting policies adopted by the tnjstees are described below. These policies have been consislenlly applied lo all years presented unles5 olherwse staled. Company $latu$ The charity is a private company limited by guaranlee incorporated in England and Wales. without share capital. The guarantor5 up lo a total of £1 are the trustees of the company. The registered office is given in the company information on page 1. Golng concfjrn The trustee5 assess whether the use of going CnCern is appropriate i.e. ether there are any material uncertainbes related to events or conditions that may cast significant doubl on the ability of the charity lo continue as a going concem. The trustees make this assessment in respect of a period ol al least one year from the date of authorisab'on fry issue of the ffinancial stalemen¢s. In early 2020 the emergence of Covi1>19 led the World Health organi5ats.on lo declare a 9lobal pandemic on 11 March 2020. Shortly thereafter the UK government announced various reslri¢live measure$ on 23 March 2020. which has had a previously unf?seen impact on the charity's ability lo operate as normal. The ongoing impa¢1 of the pandemi¢ on the charity's income and expenditure is sel out in more detail in the trustees, annual report. Followng their assessment the trustees have concluded that the charity has adequate resources lo continue In operational existence for the I0seeable ftrtufe and there are no material uncertainties about the charity's ability to continue as a going concem, thus they conts'nue to adopt the going concem basis of accounting in preparing the financial statements. Judgem•nts and key sources of •stSmatlon uncertalnty In the application of the company's accounting policies, trustees are required to make judgements, ests'mates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other 50urce5. The eslimale5 and associated assumpts"on5 are based on historical experience and other factors that are considered to be relevant. Actual $v11$ may differ from these ests'mates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountin9 e5b"males are recognised In the period in which the ests.mate is revised where the revision affects only that period. or in the period of the revision and futu periods vthere the rewsitsn affects both current and future periods. -12-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FE8RUARY 2021 Accounting policies Icontinuedl Financial instruments The charity only has financial assets and liabilrties of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured as their settlement value. Investments Investment5 are initially recognised al their Iran5aclion value and subsequently measured at their fair value as al the balance sheet dale. The stslement of financial aclivib.es indudes the net gains and losses arising on valUation and disposals Ihroughovl the year. All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losse5 on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquire<l subsequent to the first day of the financial year. Unrealised gain$ and losses are ¢al¢ulaled as the dIffenCe between the fair value al the year end and their carying value. Tanglble Ilxod assets Tangible fixed assets are staled at cost less depwialion. Depreciation is calculated so as lo write off the ¢osl of an asset, less its e$tsmated residual value, over the useful economic life of the asset as follows.. Property- 2% straight line Fumrture and equipment- 15% on reducing balance Motor vehicle- 25% reduciThJ balance Computer equipment- 25% on reducing balance D8btor8 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discoun15 due. Cash at bank and In hand Cash al bank and in hand includes cash arKI short term highly liquid investments wth a short malurily of three months or less from the date of acquisrtion or opening of the dep051t or similar account. Crgdltors Credrtors are recognised where the chanty has a present OblatIon resutting from a past event that will probably result in the transfer of fvnds lo a third party and the amount due lo setue the obligation can be meaSUd or eglim*ed relBbly. Cre(lrtors are n¢)mially recognised al their setllement amount after allowng for any trade discounts due. -13-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2021 Accounting policies Icontinuedl In¢ome All income is recognised in the ststement of financial activitses when the charity has entitlement to the funds. any perfofmance conditions for receipt have been met, it is probable that the income wll be received and the amount can be measured Telbly. Where a claim for repayment of income lax has or ill be made, such income is grosse(J up for tsx 0Verable. The following accounting policies are applied lo income". Donations Donations are reported gross. Donation income to which the charity is enliued bul v4hich it has not received by the year end are include<l in incoming sourceS in the stslement of financial aclivrties and shown as debtors in the balance sheet. Legaclo For legaeies, entillemenl is taken as the eadier of the dale on 1th either." the charity is aware that probate has Ixen granted. the eslale has been finalise(J and notification has been made by the exe¢ulor(sl lo the Trust that a dislribub'on wll be made, or vA)en a distribution 1$ received from the estate. Receipt of a legacy. in whole or in part, is only considered probable en the arnounl can be measured reliably and the charity has been notified of the execLrtor'5 inlenb'on to make a distribution. Income from ¢harltabl• actlvltles Nursing fee$ and other income from tharitable activth'es 1$ rewgnised upon prow$ion of the service lo thich it relates. Grant income is recognised vthere ihere is entidement, certainty of receipt and the amount can be measured wth sufficient reliability. Inv•stm•nt Incom• Investment income is accounted for %then re1¥able. Donatèd $•Nl¢e$ and facllltl•s Donated professional services and donated faCIle$ are recognised as income vthen the charity has control over the item, any conditj'ons associated with ihe donated item have been met, the receipt of economic benefrt from the use by the chanty of the rtem Is probable and that economic benefit can be measured reliably. In ae¢ordance wrth the Charities SORP IFRS 1021. no amounts are included in the financial stslements for ser5 donated by volunteers. On receipt, donated professional services and donated faalrties are recognised on the basis of the value ol the gfft to the charrty which 15 the amount the charity would have been willing to pay lo obtain services Qf facilities of equivalent economic benefrt on the open market", a corresponding amount is then rec(¥Jnised in expendrture in the penod of receipt. Expenditure Expenditure is recognised once there is a legal or consttuctive obligation lo make a payment lo a third party, it is probable th settlement wll be quire{l and the amount of the obligation can be measured reliably. The charity'5 operating cos15 include staff costs. premises costs and other related costs. All expenditure is classified as charrtatAe expendrture in relation lo the charity's main activty of running Lime Tree House. -14-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2021 Accounting policies Icontinuedl Go¥ernan¢o costs Governance costs incorporate the annual fees payable for the preparation of the accounts and Independent Examination Fund$ Where conditions are placed on the receipt of funding or it is received for a specific purpose it is included within restricted funds. Where there are no conditions the funding is included within unrestricted funds. Designated funds are the furKls sel aside by the Iruslees out of unreslricled fvnds for specific future purposes or project5. Ponsion costs The charity contributes lo a defined contribution pension scheme for employee5. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged lo the SOFA. Govornmont grants Government grants are recognised al the fair value of the asset received or CeIvable when there 18 reasonable assurance that the grant condibons Mll be met and the grants will be received. A grant that specifies performance condth'ons is recognised in income ¥then the performance condib'ons are met. Where a grant does not specify performance condrtions il is recognised in income when the proceeds are received or receivable. A grant received befofe the recognitson criteria are satisfied is recognised as a liability. -15-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 29 FEBRUARY 2021 Income from donations and legacies 2021 2020 Unrestricted inGOfft8.' Legacie5 Donations 182,704 63,134 13,953 145,784 Sub-total- unrestn.cted income 245,838 159,737 Restrted income.. Donations 30,912 10,000 276.750 169,737 Incom8 from charitable activiti8S 2021 2020 Unreslricled incom8.' Christian Science nursing fee grants Christian Science nur$ing fees Rest, study & supplies 98,570 190.160 200 118,573 192,306 2,036 Sub-total- unrestricted income 288.930 310,915 Restricted income.. Christian Science nurses training grants Grants 19,500 11,000 80.788 369.718 341,415 Investment Income 2021 2020 Interest receivable Dividends receivable 306 5,815 1,615 8,610 6,121 10,225 All of the investment income received in this year and the comparalive year was unrestricted. -16-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 28 FEBRUARY 2021 Expondltur• on ¢harltsbl• a¢tlvltlos Unrestricted funds Restricted Total funds funds 2021 Running of Lime Tree House- current year Stsff costs including training Running costs Depreciation Investment management fees Govemance costs 562.307 126.915 24,637 3,277 2,130 53,331 20,418 1,204 615.638 147.333 25,841 3.277 2.130 719,266 74,953 794.219 Unrestrl¢t•d R#StrIct Total funds funds funds 2020 Runnlng of Llme Tre8 House- prlor year Staff costs including training Running costs Depreciation Loss on disposal of fixed assets Investment management fees Governance cos15 506,584 127,425 24,022 1.325 3,449 2,070 24,939 531,523 127.425 25.570 1.325 3.449 2.070 1,546 864,875 26,487 691.362 Staff cost$ and •mploy•o nefits The aggregate payroll costs weie. 2021 2020 Wages and salaries Social security ¢osls Agency staff Other pension costs 504.609 43,469 978 43,106 425,716 34,813 3,050 33,373 592,162 496,952 Trusts8$' gxponse$ During the year. one 12020.. six} trustee has been paid a total of £358 12020.. £4,427) in relation to expenses incurred %tholly in relats.on to charilable actsvrties. No trustee ha5 received any remuneration from the charity during either the curTent or the previou5 year. Particulars of amploye•s: The company employs its own staff bul uses a chef for relief work where necessary. No member of the Company's staff 15 remunerated by way of a salary in excess of £60.000. -17-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 28 FEBRUARY 2021 staff costs and employee benefits {continuedl 2021 No 2020 No Number of employed staff 20 The lotsl employee benefits of the key managemenl personnel of the charity for the year were £89.930 12020. £84,444). Not outgolng r•sour¢ 2021 2020 Net outgoing resources for the year are stated after charging.. Independent Examiner's remuneration Independent Examiner's remuneration Other finan¢ial services Depreciation of owned lixe¥J assets 630 1.500 25,841 595 1,475 25,570 Tanglbk Ilxod a$8ets Propgrty Fumlturg & •qu5pm•nt Motor vohiclos Computsr •quipment Totsl Cost At 1 March 2020 Additions 0igp05al$ 1,181,307 11,302 101.890 8,870 19,745 10,381 1,313,323 20,172 At 28 Fobruary 2021 1,192,609 110,760 19,745 10,381 1,333,495 Ogproclatlon At 1 March 2020 Charge lor the year Disposals 83,557 18,852 65.906 5,531 16,141 901 8,151 557 173,555 25,841 At 28 Febwary 2021 102,409 71,437 17,042 8,708 199,396 Net book value At 28 Fobwary 2021 1.090,200 39,323 2,703 1,673 1,133,899 At 29 February 2020 1,097,750 35.984 3,604 2,230 1,139,568 -18-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 28 FEBRUARY 2021 Investment held as fixed assets 2021 2020 Market value at 1 March 2020 Additions Oi5P05a15 proceeds Realised investment gainslllosses) Unrealised investment gainslllossesl 254,176 93,277 193.5561 13051 17.741 260,902 224,224 1229,7431 3,890 15,0971 Valu8 at 28 February 2021 271,333 254,176 Investments ¢omprise the followng.. Investment assets in the UK Investment as$el$ outse the UK 175.899 95.434 153,813 100,383 Mark•t valu• at 28 F•bruary 2021 271,333 254,176 Historical cost al 26 February 2021 256,489 259,2S2 Investments are valued at closing bid values at ihe yearend as determined by the Charity's investment managers, James Brearley & Sons. The investment managers work to the trustees, investment policy which is established within the restn"ctions imposed by the Trustee Act 2000. 10 Dgbtorn 2021 2020 Debtors Prepayments and ac¢rued inwne other debtors 48.367 4,597 2,575 23,880 7,381 2,575 55,539 33,816 11 Crgdltors: amounts falllng dug wllhln ono year 2021 2020 Trade creditors Accruals 58,128 3.988 63,423 2,289 62,116 65,712 -19-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 28 FEBRUARY 2021 12 Related party transactions During the year the company purchased gwJ5 and Services from The Art Store IBrilish 151e51 Limited, lotslling £1,42512020". £1.2751. One of the ovmers of this business is Mrs G C Woods-Jack, vh)0 was a trustee of the company during the year. Al Iransadions vre on a commercial basis and no balances were outstanding in relation to these transactions at either year end. 13 P•nslons The company historically operated defined contribution schemes in respect of staff. One was closed on 31 December 2009, and a new scheme took tts place on 1 January 2010. Five members transferred from the old scheme lo the new scheme. The schemes and their assets are held by independenl managers. The pension charge represents ¢ontribution$ due from the company and amounted to £43,10612020.' £33,373). At the balan¢e sheet date the company had OLrtstanding contribLrtion$ of £5.72512020.' £7,962). 14 R•$trl¢tsd funds Curront yoar Bal•ne• at 1 Ilar¢h 2020 In¢omln9 Outgolng r•source• Fund tr¥nofer B•l¥n¢g ot 28 F?bnJary 2021 Vis((ing C S Nursing Serv Other grants received The Meadows Project Oonalions and grants for Covid staff Costs Donations for PPE costs Building and other grants 46.44$ 829 225 18401 3291 1341 153,3311 45,605 500 53.331 18.245 40.124 118.2451 12,1741 113,1421 24,808 47,499 111,700 174,9531 113,1421 71,104 Prlor yar Balance at 1 March 2019 Incomlng ro•ourc•8 Outyolng rn$our¢o• Fund transfor Balance at 29 February Z020 Vi511ing C S Nursing Serv PTCSN training grant Other grants received The Meadows Project Trust Brit grant 37,566 10.000 19,500 46,445 124,9401 13871 1391 5,440 1.216 264 829 225 11.000 111,0001 39,046 40,500 126,4871 {5,5601 47,499 -20-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS IContinu8dl FOR THE YEAR ENDED 28 FEBRUARY 2021 14 Restricted funds (continued) Vlsltlng Chrlstlan Scl•n¢• Nurnlng S•Thlc• No further donations were received in the current year to contribute towards the setup and running costs for the Visiting Chrisb'an Science Nursing Service. PTCSN training grant This grant was claimed lo contribute towards training costs incurred during the prior period. No training grants were received in the current year but other grants were received from PTCSN and are included in the Covid income referred to in the paragraphs below. Othèr grants ro¢olvod This related lo a grant vthich was ceiVed in a pVroUS year lo purchase a patient turning bed system. The closin9 balance on this fund represents the carrying value of the bed system wrthin fixed assets. The M•adows Projèct This fund represented the carrying value of the assets purchased the funds received lo spend on the building project, excluding the building itself and the Irk carried out on it which 1$ in a separate designated fund as detailed in Note 15. Donatlons and grants for CovSd staff Costs Various donations and grants received in the year to put towards the additional staff costs incurred as a result of the Covid-19 pan*Jemic. Donatlons for PPE costs Various donations received to PLrt towards additional PPE costs incurred as a result ol the Covid-19 pandemic. Bulldlng and othgr grants Two grants received to carry out additional work to the buiklings and also to cover the costs of updating policies and procedures. Some of the funding spent in the year is included wthin the building cost in the accounts and Iherelore this amount is transferred lo designated funds. -21-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 15 Unrestrf¢ted funds Currnnt yr Balance at 1 Mah 2020 Incomlny resources and gain8 Outgolng resources Fund transfer Balance at 28 Febnjary 2021 D•slgnated.' Property 1.097.750 118.B521 11.302 1,090,200 1.097.750 (18,8521 11.302 1,090,200 General fund 537,359 564.854 {700,7201 1,840 403,333 1,635,109 564,854 (719,5721 13.142 1,493,533 Prfor y•ar Balanc• at 1 March 2019 Incomlng re•ourc•8 and galrt# Outgolng rn•ourc•• Fund tran•l•r Balanc• at 29 F•bruary 2020 Oèslgnattd.. Property 1,102,395 {18,6261 13.981 1,097,750 1,102,39S 118,6261 13.981 1,097,750 General fund 712.359 480.877 {647,4561 18,4211 537,359 1.814.754 480.877 {886.0821 5,580 1,635,109 Dosignatsd fundi- PrOrtY This represents the carrying value of the property wthin the accounts. -22-
MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2021 16 Analysls of n•t a$$ots twOn funds Unrnstricted Dasignatad Restrictsd Total Fund balanc8s at 28 February 2021 arn feprnsantod by: Tangible assets Investments Current assets Current liabilities 43,008 271.333 1S1.108 162,1161 1,090,200 691 1,133,899 271.333 221.521 162,1161 70.413 403,333 1.090.200 71.104 1,564,837 UnrestrIct Doslgnated Restrlctod Totsl Fund balancos at 29 February 2020 ar• reprosonted by: Tangible assets Investments Current assets Current liabilities 40,765 254,176 308.130 {65.7121 1,097.750 1.053 1,139,568 254,176 354,576 165,7121 46.446 537,359 1.097,750 47,499 1,682,608 17 Company Limitsd by Guarantse Mountlands Trust Limited is a company limrted by guarantee, wthout share capital. The guarantors up to a total of £1 are the trustees of the company. The guarantors have confimed that they will not seek repayment of the balance owed lo them in preference lo third party ¢dIt(s. -23-