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2021-04-30-accounts

REGISTERED CHARITY NUMBER: 223669

Trustees' Report and

Financial Statements for the Year Ended 30th April 2021

for

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Contents of the Financial Statements for the year ended 30th April 2021

Page
Trustees' Report 1 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Trustees' Report for the year ended 30th April 2021

The trustees present their report with the financial statements of the charity for the year ended 30th April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objective has been the continued care and welfare of the residents, to provide them with a safe, sociable and friendly environment in order to give them the best possible life in their latter years.

Strategies to achieve the year's objectives

These include the continued close involvement of the trustees and the Ladies Committee. The Ladies Committee meet regularly to assess and discuss particular issues relating to the care and welfare of the residents. The trustees, in addition to attending regular meetings, make random monthly visits to monitor the performance of staff, the maintenance of the buildings, grounds and equipment, and to ensure that the overall wellbeing of the residents is being maintained at the highest possible standards.

ACHIEVEMENT AND PERFORMANCE

Charitable activities for the public benefit

The principal charitable activity in the year remained the provision of care and accommodation for residents. The charity fulfilled its objectives and carried out its aims for the public benefit by providing accommodation and care for elderly ladies of reduced circumstances. The average number of residents during the year was 25 (2020 30).

Towards the end of the prior financial year the UK followed many other countries into lockdown due to the Covid-19 pandemic. This to some extent negatively impacted the Charity. The Charity has monitored the situation closely, putting in a raft of measures to ensure the safety of residents, staff and visitors, and also taking advantage of some support measures available to ensure that it is in a stable financial position and has measures in place in case of further disruption due to the outbreak.

FINANCIAL REVIEW

Principal funding sources

The amount of income received from fundraising and donations is insignificant. Reliance is placed on contributions from residents and investment income.

Investment policy and performance

There are no restrictions on the Charity's power to invest. The investment strategy is set by the trustees and is reviewed by them annually. The trustees consider the income requirements, the risk profile and the stockbrokers view of the market prospects in the medium term. In the year the trustees continued with their investment policy for medium capital appreciation and medium income.

The charity's investment fund totals £4,054,411 (2020 £3,395,794) which includes amount held in cash by the investment managers of £320,397 (2020 £189,709) at the balance sheet date. Investment income in the year totalled £85,951 compared to £105,713 in 2020.

Reserves policy

It is the trustees' opinion that amounts invested should be maintained in order to provide investment income in future years. The trustees therefore regard the net current assets to be the free reserves which are available for the day to day running of the Home of Rest. It is the objective of the trustees to maintain the free reserves of the Charity at a level which equates to approximately three months expenditure. At 30 April 2021 the free reserves were £133,494 (2020 £190,296) and the trustees are continuing to monitor the position. Total funds carried forward totalled £5,177,966 (2020 £4,580,885) split between Unrestricted funds of £5,160,346 (2020 £4,563,265) and Endowment funds of £17,620 (2020 £17,620).

Page 1

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Trustees' Report

for the year ended 30th April 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

This was created under clause 8 of the Will of the late Rt. Hon. T R Ferens in which the dwelling house, gardens and paddock known as Holderness House were settled upon trust in perpetuity as a Home of Rest (the "Permanent Endowment"). The main legacy was under clause 10(i) of the Will, which provided a fund for the maintenance, repair and upkeep of the dwelling house, buildings, gardens and grounds thereof and other attributable expenditure (the "Unrestricted Fund") to which have been added profits on sale of investments. The income is to be used for the general purposes of the Charity, essentially provision of accommodation for gentlewomen in reduced circumstances. The trustees of the Charity were incorporated as body under the Charities Act 1993 on 2nd February 1994.

Recruitment and appointment of new trustees

New trustees are appointed by invitation of the existing trustees. There is no formal policy for the introduction and training of trustees, but discussions are held with potential trustees to inform them of their duties and responsibilities.

Organisational structure

The Charity is under the control of the trustees who meet a minimum of every three months to discuss the strategy, policies, financial matters and general running of the Charity. The day to day running of the Home of Rest is delegated to a professional management team, assisted by the Ladies Committee whose membership and actions are provided by the trustees.

Under an order dated 1st February 1996 the trustees have the power to appoint an investment manager and to delegate to him discretionary power in relation to the management of the Charity's investments. By the same order the trustees have the power to appoint a corporate body as a trustees' nominee to hold the investments of the Charity. The trustees have appointed Pershing Securities Limited to hold the investments of the Charity as their nominees.

Key management remuneration

The trustees consider the board of trustees, CEO, clerk to the trustees and matron as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give their time freely and no trustee remuneration was paid in the year. The pay of key management personnel is reviewed annually at board level and is set in accordance with experience, responsibility and performance.

Related parties

Included in governance costs is trustees indemnity insurance premiums of £1,500 (2020 £1,546) relating to the year ended 30 April 2021. Other transactions with related parties are disclosed in note 18 to the financial statements.

Risk management

During the year the trustees have considered and identified the major risks to which the Charity is exposed. This involved identifying the types of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks.

The Charity's systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss. The trustees are satisfied that the systems in place mitigate their exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

223669

Page 2

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Trustees' Report

for the year ended 30th April 2021

Principal address Holderness Road Hull East Yorkshire HU8 8QX

Trustees

A J Beharrell (Chairman) C Lightowler R M Miles I McIntosh S Crum

CEO

D P Naughton-Doe

Clerk to the Trustees Mrs J A Pool

Matron Mrs W M Jones

Auditors

Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA

Bankers

NatWest Bank Plc 34 King Edward Street Hull HU1 3SS

Solicitors

Andrew Jackson Solicitors Marina Court Castle Street Hull HU1 1TJ

Stockbrokers

Rathbone Investment Management Limited Port of Liverpool Building Pier Head Liverpool L3 1NW

Page 3

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Trustees' Report

for the year ended 30th April 2021

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. Trustee

Page 4

Report of the Independent Auditors to the Trustees of Holderness House

Opinion

We have audited the financial statements of Holderness House (the 'charity') for the year ended 30th April 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 charity'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 5

Report of the Independent Auditors to the Trustees of Holderness House

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

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:

Page 6

Report of the Independent Auditors to the Trustees of Holderness House

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, anti-bribery and employment legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Page 7

Report of the Independent Auditors to the Trustees of Holderness House

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Smailes Goldie Chartered Accountants Statutory Auditor Regent's Court Princess Street Hull East Yorkshire HU2 8BA

22 September 2021 Date: .............................................

Page 8

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Statement of Financial Activities for the year ended 30th April 2021

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Residents contributions and rents
Investment income
2
Total
EXPENDITURE ON
Raising funds
Investment management costs
4
Charitable activities
5
Staff and agency costs
Premises running costs
Residents direct care
Administrative support costs
Depreciation
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
788,479
86,209
874,688
14,312
14,312
698,221
81,545
51,621
95,863
8,970
950,532
672,925
597,081
4,563,265
5,160,346
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
17,620
17,620		 2021
Total
funds
£
788,479
86,209
874,688
14,312
14,312
698,221
81,545
51,621
95,863
8,970
950,532
672,925
597,081
4,580,885
5,177,966		 2020
Total
funds
£
865,455
106,045
971,500
14,116
14,116
672,693
105,086
42,067
95,727
13,809
943,498
(187,213)
(159,211)
4,740,096
4,580,885

The notes form part of these financial statements

Page 9

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest Balance Sheet 30th Apnl 2021 2021 Total funds 2020 Total funds Unreslricled Endowment fun fund Notes FIXED ASSETS Tangible assets Investments 10 972,441 11 4,054.411 17,620 990,061 4.054.411 994,791 3.395,798 5,026,852 17,620 5,044,472 4,39J,589 CURRENT ASSETS Debtors C83h at bank and in hand 12 4959 167.300 4,959 167,300 2,830 232.533 172,259 172,259 235,363 CREDITORS Amounts falling due within one year 13 138,7651 {38,765) (45,0671 NET CURRENT ASSETS 133,494 133,494 190,296 TOTAL ASSETS LESS CURRENT LIABILITIES 5,160,346 17.620 5,177,966 4,580,885 NET ASSETS 5 160 346 5 177 966 4 580 885 FUNDS Unreslricled funds Endowment funds 14 5,100.346 17,620 4,563,265 17,620 TOTAL FUNDS 5 177 986 4,580,885 The financial slalemen18 were approved by the Board of Trustees and authorised for issue on 22 September 2021 and were slgned on ils behalf by= Tr Trustee The noles form part of these financial stslements Page 10

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Cash Flow Statement for the year ended 30th April 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest element of hire purchase or
finance lease rental payments paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Movement on funds held for reinvestment
Interest received
Dividends received
Net cash provided by investing activities
Cash flows from financing activities
Capital repayments in year
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2021
£
(161,514)
-
(161,514)
(4,240)
-
145,000
(130,688)
258
85,951
96,281
-
-
(65,233)
232,533
167,300		 2020
£
(54,340)
(1,506)
(55,846)
(5,148)
(68,004)
211,349
(129,229)
332
105,713
115,013
(10,711)
(10,711)
48,456
184,077
232,533

The notes form part of these financial statements

Page 11

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Cash Flow Statement for the year ended 30th April 2021

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Interest element of hire purchase and finance lease rental payments
Dividends received
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash used in operations		 2021
£
597,081
8,970
(672,925)
(258)
-
(85,951)
(2,129)
(6,302)
(161,514)		 2020
£
(159,211)
13,809
187,213
(332)
1,506
(105,713)
2,731
5,657
(54,340)
  1. ANALYSIS OF CHANGES IN NET FUNDS
At 1.5.20 Cash flow At 30.4.21
£ £ £
Net cash
Cash at bank and in hand 232,533 (65,233) 167,300
232,533 (65,233) 167,300
Total 232,533 (65,233) 167,300

The notes form part of these financial statements

Page 12

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements

for the year ended 30th April 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income recognition

Income is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of income are as follows:

Charitable activities

Income from contributions from residents and rents received is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured reliably.

Investment income

Interest income is recognised using the effective interest method and dividend income is recognised as the charity's right to receive payment is established.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice such as costs related to statutory audit and legal fees.

There has been no apportionment of costs.

Tangible fixed assets

Freehold land and buildings are stated at the 1930 probate value, less any subsequent sales of land with subsequent additions at cost.

Freehold land and buildings used for the purpose of the Charity are not depreciated as, in the opinion of the trustees, their life is so long and their residual values are so high that any depreciation would be insignificant.

Fixtures and fittings are depreciated at 10% - 33.33% per annum on cost or valuation.

Page 13

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued

for the year ended 30th April 2021

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Expenditure of a capital nature is capitalised when the expended amount per item exceeds £1,000.

Taxation

The charity is exempt from tax on its charitable activities.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the statement of financial activities if the shares are publicly traded, using the closing quoted middle price, or their value can otherwise be measured reliably.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities allocated to the appropriate heading.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of financial activities unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

2. INVESTMENT INCOME

Income from listed investments
Interest receivable		 2021
£
85,951
258
86,209		 2020
£
105,713
332
106,045

Page 14

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued for the year ended 30th April 2021

3. INCOME FROM CHARITABLE ACTIVITIES

Activity
Contributions from
residents
Residents contributions and rents
Rents received
Residents contributions and rents
Grants
Residents contributions and rents		 2021
£
723,505
3,790
61,184
788,479		 2020
£
859,500
5,955
-
865,455

The grants received during the year were receivable as a result of the restrictions imposed on the charity's activities due to the COVID-19 pandemic.

4. INVESTMENT MANAGEMENT COSTS

Portfolio management
CHARITABLE ACTIVITIES COSTS
Staff and agency costs
Premises running costs
Residents direct care
Administrative support costs
Depreciation		 Direct
Costs
£
664,013
-
51,621
28,267
-
**743,901 **		 2021
£
14,312
Support
costs (see
note 6)
£
34,208
81,545
-
67,596
8,970
192,319		 2020
£
14,116
Totals
£
698,221
81,545
51,621
95,863
8,970
936,220

5. CHARITABLE ACTIVITIES COSTS

6. SUPPORT COSTS

Administration
expenses
£
Staff and agency costs
34,208
Premises running costs
37,036
Administrative support
costs
27,114
Depreciation
-
98,358		 Property
upkeep
£
-
44,509
-
8,970
53,479		 Gardens
Governance
upkeep
costs
£
£
-
-
-
-
14,496
25,986
-
-
14,496
25,986		 Totals
£
34,208
81,545
67,596
8,970
192,319

Page 15

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued for the year ended 30th April 2021

7. AUDITORS' REMUNERATION

Charitable activities and governance costs include auditors remuneration for audit services of £4,000 (2020 £3,350) and £6,034 (2020 £3,030) for non audit services.

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th April 2021 nor for the year ended 30th April 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th April 2021 nor for the year ended 30th April 2020.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2021
£
659,746
29,444
6,667
**695,857 **		 2020
£
647,307
27,834
6,564
681,705

The average monthly number of employees during the year was as follows:

Direct staff
Support staff		 2021
49
2
**51 **		 2020
50
2
52

No employees received emoluments in excess of £60,000.

Page 16

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued for the year ended 30th April 2021

10.
TANGIBLE FIXED ASSETS
COST
At 1st May 2020
Additions
At 30th April 2021
DEPRECIATION
At 1st May 2020
Charge for year
At 30th April 2021
NET BOOK VALUE
At 30th April 2021
At 30th April 2020
11.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1st May 2020
Disposals
Revaluations
Movement in funds for reinvestment
At 30th April 2021
NET BOOK VALUE
At 30th April 2021
At 30th April 2020		 Freehold
property
£
960,154
-
960,154
-
-
-
960,154
960,154		 Fixtures
and
fittings
£
770,907
4,240
775,147
736,270
8,970
745,240
29,907
34,637		 Totals
£
1,731,061
4,240
1,735,301
736,270
8,970
745,240
990,061
994,791
Listed
investments
£
3,395,798
(145,000)
672,925
130,688
4,054,411
4,054,411
3,395,798

All of the investments are held in an investment portfolio managed by Rathbone Investment Management Limited.

Included in the investments valuation are funds held by the investment managers for reinvestment in the portfolio of £189,709 (2019 £60,480).

Page 17

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued

for the year ended 30th April 2021

11. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30th April 2021 is represented by:

Valuation in 2021
Cost
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors
14.
MOVEMENT IN FUNDS
At 1.5.20
£
Unrestricted funds
General fund
4,563,265
Endowment funds
Endowment fund
17,620
TOTAL FUNDS
4,580,885		 2021
£
3,490
1,469
4,959
2021
£
14,564
10,700
13,501
38,765
Net
movement

in funds
£
597,081
-
597,081		 Listed
investments
£
1,775,666
2,278,745
4,054,411
2020
£
522
2,308
2,830
2020
£
24,762
3,735
16,570
45,067

At

30.4.21
£
5,160,346
17,620
5,177,966

Page 18

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued for the year ended 30th April 2021

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Endowment funds
Endowment fund
TOTAL FUNDS		 Incoming
resources
£
874,688
874,688
Resources

expended
£
(950,532)
(950,532)
At 1.5.19
£
4,722,476
17,620
4,740,096

Gains and
losses
£
672,925
672,925
Net
movement
in funds
£
(159,211)
-
(159,211)
Movement
in funds
£
597,081
597,081

At

30.4.20
£
4,563,265
17,620
4,580,885

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
971,500
971,500		 Resources
expended
£
(943,498)
(943,498)		 Gains and
Movement
losses
in funds
£
£
(187,213)
(159,211)
(187,213)
(159,211)

Page 19

continued...

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Notes to the Financial Statements - continued for the year ended 30th April 2021

15. RELATED PARTY DISCLOSURES

Mr D Naughton-Doe previously also acted as a consultant for which Holderness House remunerated him £Nil (2020 £3,000) The amount due at 30 April 2021 was £Nil (2020 £Nil).

Mr A Beharrell is a director of SPS Security Limited who have supplied goods and services in the year costing £780 (2020 £1,277). The amount due at 30 April 2021 was £Nil (2020 £Nil).

Key management personnel costs in the year, excluding trustees, totalled £34,208 (2020 £34,328).

Page 20

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Detailed Statement of Financial Activities for the year ended 30th April 2021

2021 2020
£ £ £ £
Income
Contributions from residents 723,505 859,500
Grants received 61,184 -
––––––– 784,689 ––––––– 859,500
Direct expenditure
Wages, national insurance and pension contributions 657,869 636,839
Agency staff 2,208 9,004
Household sundries 30,869 20,833
Provisions 34,253 39,708
––––––– 725,199 ––––––– 708,743
––––––– –––––––
Gross surplus 59,490 150,757
Administration expenses
Central heating 28,562 27,599
Central heating income (21,395) (21,093)
Light and power 18,576 17,214
Council tax 1,461 1,405
Water 5,401 5,802
Insurance 15,630 14,770
Cleaning materials and window cleaning 8,428 8,765
Equipment hire 4,982 4,525
Bank charges 1,072 1,162
Health and Safety Officer 5,023 5,073
Training costs 1,294 2,788
Telephone and postage 4,884 5,013
Printing stationery and advertising 9,099 10,825
Computer costs 3,524 -
Recruitment expenses 1,572 1,534
Clerk to the Trustees’ salary and expenses 14,278 13,619
Administrator's salary 19,930 20,709
Accountancy charges 5,154 3,030
Trustees indemnity insurance 1,500 1,546
Audit fees 5,880 3,350
Legal and professional charges 7,191 3,628
Consultancy fees - 5,692
Donations and subscriptions 1,000 2,200
––––––– 143,046 ––––––– 139,156
––––––– –––––––
Operating (deficit)/ surplus (83,556) 11,601
––––––– –––––––

This page does not form part of the statutory financial statements

Page 21

Holderness House The Charity of Thomas Robinson Ferens for a Home of Rest

Detailed Statement of Financial Activities for the year ended 30th April 2021

2021 2020
£ £ £ £
Operating (deficit)/ surplus (83,556) 11,601
Property upkeep
Repairs and renewals 44,509 46,944
Hire purchase interest - 1,506
Depreciation of fixtures and fittings 8,970 13,809
Profit on disposal of fixed assets - -
––––––– (53,479) ––––––– (62,259)
Upkeep of gardens (14,496) (19,224)
Other income
From investments 85,951 105,713
Interest receivable 258 332
––––––– –––––––
86209 106,045
Less:investment management fees (14,312) (14,116)
––––––– 71,897 ––––––– 91,929
Rents received 3,790 5,955
Sundry receipts & donations - -
––––––– –––––––
Surplus for the year before gains and losses (75,844) 28,002
Gains/ (losses) on investments
Realised (2,724) 502
Unrealised 675,649 (187,715)
––––––– 672,925 ––––––– (187,213)
-––––––– -–––––––
Net (deficit) / surplus for the year 597,081 (159,211)
======= =======

This page does not form part of the statutory financial statements

Page 22