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|CONTENTS||
|---|---|
|LegalandAdministrative Details||
|CouncilofManagement Report||
|Independent Auditors' Report||
|StatementofFinancialActivities||
|BalanceSheet|14|
|CashfowStatement|15|
|Notestothe Financial Statements|16-32|
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|Patrons|Mr T Waite CBE|
|---|---|
||Mrs A Cottreil OBE|
|Vice Presidents|Mrs PShephardMBE|
||MrBDaleFCIPD|
|Councilof Management|Mr N Wells (Chairman)|
||MrRCordell(Vice chairman)|
||Mrs D Allaway (Treasurer)|
||MrRClark|
||Mrs JClifford|
||Mr S Gadhia|
||DrPGarrod|
||Mr CSpooner|
||MrN Swift|
||Mrs P Unwin|
|Key Management Personnel|Mr P Montgomery BSc. MA. MBS. MSc(Psych) - Chief Executive and Secretary|
||Mr T Cheshire (retired27August2021)|
||Mr DJohn(appointed27August2021)|
||Mr J Cotterill|
||Ms KBardsiey|
||Ms K Jeal|
|RegisteredCompanynumber|00407697|
|Registered Charity number|227794|
|PrincipalAddress|Strode Park House|
||LowerHemeRoad|
||Heme|
||HerneBay|
||KentCT67NE|
|Independent Auditor|AzetsAuditServices|
||5thFloor|
||Ashford Commercial Quarter|
||1DoverPlace|
||Ashford|
||KentTN231FB|
|Bankers|National Westminster Bank PLC|
||140HighStreet|
||HerneBay|
||KentCT65JX|
|Solicitors|Furley Page|
||39St.Margaret'sStreet|
||Canterbury|
||KentCT12TX|
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|-|theFoundation successfully tenderedtowina KCC contract for supported living services|
|---|---|
|-|SPF's portfolioofsupported living accommodation was strengthenedbyre-equipping and redesignating the 'Holiday|
||Bungalows'tomeettheincreaseddemandforsuitableaccommodationforpeoplewithdisabilities|
|-|all the regulated services providedbyStrodeParkFoundationarecurrently rated ’Good'bythe regulatory authority000or|
||Ofsted|
|-|everyservicehasthehighestpossible5StarEnvironmentalHealthranking|
|-|the charity has retained the international recognised quality awards of ISO9001 and l8050001|
|-|StrodeParkFoundationretainedaccreditation fortheNHSrecognisedContractorsforHealthandSafetyScheme|
|-|Thecharityhas retained recognitionasa Disability Confdent Employer.|
|-|theintroductionofeTraining(MyLearningCloud) which broadened training opportunities and ledtoan improvement in|
|---|---|
||completion rates|
|.|establishinganaccredited NursingAssociateschemeatStrodeParkHousewiththeaimofdevelopingadditionalnursing skills|
||intheteamand providing a newandexciting career opportunities for Carers|
|-|securing funding for and recruiting apprentices|
|-|successfullyapplyingforUKVISponsorshiplicensesothatthe nursing team can be enhancedbyqualifednurserecruits from|
||overseas|
|-|supporting47employees who were shieldingorfunoughedasa consequence ofthepandemicandproviding a supportedand|
||safereturntotheworkplace|
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|Structure,governance and management(continued)||
|---|---|
|ThemembersoftheCouncilofManagementwhosewed during the period wereasfollows :||
|Mr N Wells (Chairman)|Mr S Gadhia|
|Mr R Cordell(\fcechairman)|DrP Garrod|
|Mrs DAllaway(Treasurer)|MrCSpooner(appointed25November2020)|
|Mrs N J August (retired 12 February 2021)|Mr N Swift|
|Mr R Clark|Mrs P Unwin|
|Mrs J Clifford||
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|'|give a trueandfairviewofthe stateofthe charitable company’s affairs asat31March 2021, andof|
|---|---|
||its incoming resources and applicationofresources, including its income and expenditure, for the|
||yearthen ended;|
|'|have been properly prepared in accordance with United Kingdom Generally Accepted Accounting|
||Practice; and|
|-|havebeenpreparedinaccordance with the requirementsofthe Companies Act 2006.|
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|.|the|strategic report and the CouncilofManagements' report have been preparedinaccordance|
|---|---|---|
||with|applicable legal requirements.|
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|-|adequate accounting records havenotbeen kept,orreturns adequateforour audithavenot been|
|---|---|
||receivedfrombranchesnotvisitedbyus;or|
|v|thefnancial statements are notinagreement with the accounting records and returns;or|
|-|certain disclosuresofdirectors' remuneration specifedbylawarenotmade;or|
|-|we have not received all the information and explanations we require for our audit.|
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29 October 2021
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||Note|Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|
|||Funds|Funds|Total|Total|
|||£|£|£|£|
|Incomefrom:||||||
|Donations and legacies||||||
|Donations and legacies|2|64,169|48,769|112,938|251,587|
|Grantsreceivable|3|165,422|677,962|843,384|6,205|
|Charitable activities||||||
|Care services|10|10,643,782|-|10,643,782|9,842,129|
|Other trading income|4|105,482|-|105,482|237,813|
|Investment income
Other|5
6|835
31,505|-
-|835
31,505|2,146
55,718|
|Totalincome||11,011,195|726,731|11,737,926|10,395,598|
|Expenditureon:||||||
|Raisingfunds||||||
|Costsofraising funds|8|189,743|-|189,743|249,504|
|Charitable activities||||||
|Care services|10|10,061,959|674,896|10,736,855|10,194,862|
|Totalexpenditure|7|10,251,702|674,896|10,926,598|10,444,366|
|NetincomeI(expenditure)beforetransfers||759,493|51,835|811,328|(48,768)|
|Transfersbetweenfunds|23|18,877|(18,877)|-|-|
|Netincomeaftertransfers||778,370|32,958|811,328|(48,768)|
|OtherrecognisedgainsI(losses):||||||
|Remeasurement gain on defned beneft||||||
|pension scheme|20|(16,438)|-|(16,438)|592,079|
|Netmovementinfunds||761,932|32,958|794,890|543,311|
|Reconciliationoffunds:||||||
|Fundbalancesat 1April2020||4,156,156|161,801|4,317,957|3,774,646|
|Fund balances at 31 March 2021||4,918,088|194,759|5,112,847|4,317,957|
##
|Comparativeyearinformation|Note|Unrestricted|Restricted|2020|
|---|---|---|---|---|
|Yearended31March2020||Funds|Funds|Total|
|||£|£|15|
|Incomefrom:|||||
|Donationsandlegacies|||||
|Donations and legacies|2|233,338|18,249|251,587|
|Grantsreceivable|3|6,205|-|6,205|
|Charitableactivities|||||
|Care services|10|9,842,129|-|9,842,129|
|Othertradingincome|4|196,374|41,439|237,813|
|investment income|5|2,146|-|2,146|
|Other|6|55,718|-|55,718|
|Totalincome||10,335,910|59,688|10,395,598|
|Expenditureon:|||||
|Raisingfunds|||||
|Costsofraising funds|8|249,504|—|249,504|
|Charitable activities|||||
|Care services|10|10,190,556|4,306|10,194,862|
|Totalexpenditure|7|10,440,060|4,306|10,444,366|
|Netincomebeforegains/(losses)oninvestments||(104,150)|55,382|(48,768)|
|Transfersbetweenfunds|22|157,980|(157,980)|-|
|Netincomeaftertransfers||53,830|(102,598)|(48,768)|
|OtherrecognisedgainsI(losses):|||||
|Remeasurement gain/(loss) on defned beneft pension|||||
|scheme||592,079|-|592,079|
|Netmovementinfunds||645,909|(102,598)|543,311|
|Reconciliationoffunds:|||||
|Fundbalancesat 1April2019||3,510,247|264,399|3,774,646|
|Fundbalancesat 31March2020||4,156,156|161,801|4,317,957|
##
||||Note||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||£||£|£|1::|
|Fixedassets|||||||||
|Tangible assets|||15|||5,600,490||5,717,187|
|Currentassets|||||||||
|Stocks||||26.617|||27.939||
|Debtors|||16|1 ,713,603|||1,732,434||
|Current asset investments|||17|173,61|1||173,61 1||
|Cashatbank and in hand||||721,145|||141,946||
|||||2,634,976|||2,075,930||
|Creditors:
amounts|falling|due|||||||
|withinone year|||18|(1,191,634!|||(1,442,413)||
|Netcurrentassets||||||1,443,342||633,517|
|Totalassetslesscurrentliabilities||||||7,043,832||6,350,704|
|Creditors:amountsfallingdue||after|19||||||
|morethanone year||||||(1,048,626)||(1,166,826)|
|||||||5,995,206||5,183,878|
|Defnedbenefitpension|liability||20|||(882,359)||(865,921)|
|Netfunds||||||5,112,847||4,317,957|
|Funds|||||||||
|Unrestricted funds||||||936,818||183,770|
|Designated funds|||22|||3,981,270||3,972,386|
|Restricted funds|||23|||194,759||161,801|
||||24|||5,112,847||4.317.957|
##
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||Note||2021||2020||
|---|---|---|---|---|---|---|
|||£||2|£|£|
|Cashfowfromoperatingactivities|28|||906,849||533,428|
|Cashfow from investing activities|||||||
|Paymentstoacquire tangiblefxed assets
investment Income||(191,276)
835|||(329,223)
2,146||
|Financing costs||(24,622)|||(23,506)||
|Net cashfowfrominvestingactivities||||(215,063)||(350.583)|
|Cashfowfromfnancingactivities|||||||
|Repaymentoffnance leases
Repaymentofloans||(8,568)
(104,019)|||(8,569)
(131,236)||
|Net cashfowfromfnancingactivities||||(112,587)||(139.805)|
|Net increase / (decrease) in cash and cashequivalents||||579,199||43,040|
|Cash andcashequivalentsat 1April2020||||141,946||98,906|
|Cashandcashequivalentsat 31March2021|30|||721,145||141,946|
|Cash and cashequivalentsconsistsof:|||||||
|Cashatbank and in hand||||721,145||141,946|
|Cash and cashequivalentsat 31 March 2021||||721,145||141,946|
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||Accounting policies|
|---|---|
|1.1|Basisofaccounting|
||StrodeParkFoundationforPeoplewithDisabilitiesisa registered charitablecompanyintheUnitedKingdom.Inthe|
||eventofthecharitybeingwoundup.theliabilityinrespectoftheguaranteeislimitedto£1permemberofthecharity.|
||Theaddressoftheregisteredofficeisgiveninthecharityinformationonpage 1ofthesefnancialstatements.The|
||natureofthecharity'soperationsandprincipalactivitiesistoprovidearesidential/nursinghomeorhomesforthe|
||maintenanceandtreatmentofpersonwhohaveaphysicaldisability;toprovide housingoranyassociatedamenities|
||forsuchpersons;toprovidecare,supportandancillaryamenitiestoresidentsofsuchhomesandalsotopeoplewith|
||disabilitieswholiveinthecommunity; andwhereappropriate.rehabilitationandtrainingtoenablethemtoachieve|
||employment,independentlivingandimprovedqualityoflife.Inadditiontorelieveandprovidesupportforthecarers|
||ofpeoplewithdisabilitieswhoarethemselvesinneedofsuchcarebyreasonofanystresswhichtheysufferarising|
||fromtheircaregiving.|
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|expectedusefullife, asfollows:||
|---|---|
|Freeholdland|Notdepreciated|
|Freeholdbuildings|Over50yearsstraightline|
|GreenRoom|Over50yearsstraightline|
|Bungalows|Over50yearsstraightline|
|Buildingimprovements|3-15yearsstraightline|
|Assetsunderconstruction|Notdepreciated untilassetis in use|
|Computers|33.33%straightline|
|Motorvehicles|25%reducingbalance|
|Furniture and Fittings|25%straightline|
|SensoryRoom|20%straightline|
|Grounds, drivesandparks|15%straightline|
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||Accountingpolicies-continued|
|---|---|
|1.6|Tangible fixed assets and depreciation (continued)|
||The CouncilofManagementisofthe opinionthatthemarketvalueofthelandaloneisconsiderablyinexcessofthe|
||valueofthelandandbuildingsstatedtogetherintheBalanceSheetat£5,278,900(2020:£5,407,679).Theinsured|
||replacement valueofthebuildingisnowin excess of 216,000,000butitisfeltthattheexpenseofobtaining|
||professionalvaluationsofthepropertywouldnotbejustified.|
|1.7|Current asset investments|
||Investmentsrepresentcharityassetswhichareontheopen marketforresale andarevaluedatthecost.|
|1.8|Stocks|
||Stocksarestatedatthelowerofcostand estimated selling price less coststocompleteandsell.Costincludesall|
||costsofpurchase.costsofconversionandothercostsincurredinbringingstocktoitspresentlocationandcondition.|
||Costis calculatedusingthefrst-in,first-outformula.Provisionismadefordamaged,obsoleteandslow-moving|
||stockwhereappropriate.Stock does notincludethe value of goods donated for saleinthe charity's shop.|
|1.9|Debtors andcreditorsreceivable I payablewithinone year|
||Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecordedat|
||transaction price.Anylossesarisingfromimpairmentarerecognisedinexpenditure.|
|1.10|Loans andborrowings|
||Loansandborrowingsareinitiallyrecognisedatthetransactionpriceincludingtransactioncosts.Subsequently,they|
||aremeasuredatamortisedcostusing the effectiveinterestrate method, less impairment. Ifanarrangement|
||constitutesafnancetransaction it ismeasuredatpresentvalue.|
||Deferred income|
||Thecompanygrantedaleaseofcertainpartsofits landtotheWOHT(nowSanctuaryHousingAssociation)fora|
||period of 65 yearsfrom12May1983fora net sum, after costs,of£34,688.£534is creditedtoincomeduringeach|
||yearuntil11May2048.|
|1.12|Employeebenefits|
||When employeeshaverenderedservicetothecharity,short-term employee benefitstowhichtheemployeesare|
||entitledarerecognisedattheundiscountedamountexpectedtobepaidinexchangeforthatservice.|
||The companyoperatestwodefnedcontributionschemesandnoadditionalliabilityarisesotherthanpaymentstothe|
||pensionscheme,whicharechargedasexpenditureintheyearinwhichtheyareincurred.|
||TheFoundationcontributestotheKentPensionFundwithintheLocalGovernmentPensionScheme(LGPS),amulti-|
||employer defined benefitpensionscheme,onbehalfofcertain employeeswhoseemploymentwastransferredfrom|
||MedwayCouncilaspartoftheTransferAgreementundertheTransferofUndertakings(ProtectionofEmployment)|
||Regulations2006.|
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||Accounting policies- continued|
|---|---|
||Leasing commitments|
||Rentalspayableunder operating leasesarechargedagainst incomeonastraightline basisoverthelease term.|
||Assetsheldunderfinanceleasesarerecognisedasassetsattheloweroftheassetsfairvalueatthedateof|
||inceptionandthepresentvalueoftheminimumleasepayments.Therelatedliabilityisincludedinthebalancesheet|
||asafinanceleaseobligation.Leasepaymentsaretreatedasconsistingofcapitalandinterestelements.Theinterest|
||is chargedtotheSoFAsoastoproduce aconstantperiodicrateofinterestonthe remainingbalanceoftheliability.|
|1.13|Tax|
||Thecharityisanexemptcharitywithinthemeaningofschedule3oftheCharitiesAct2011andisconsideredtopass|
||thetestsset out inParagraph1Schedule6FinanceAct2010andthereforeitmeetsthedefinitionof acharitable|
||companyforUKcorporationtaxpurposes.|
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|DONATIONSANDLEGACIES|2021|2020|
|---|---|---|
||£|2|
|Donations|100,579|63.824|
|Gift aid|2,342|1,445|
|Appeals|6,017|42,553|
|Legacies|4,000|143,765|
||112,938|251,587|
|GRANTS RECEIVABLE|2021|2020|
||£|E|
|Coronavirusrelatedgrantsfromstatutorybodies:-|||
|HMRevenueandCustoms-CoronavirusJobRetentionScheme|100,260||
|KentCountyCouncil-InfectionControlFund|405,562||
|MedwayCity Council - infectionControlFund|112,624||
|CyngorGwyneddCouncil - InfectionControlFund|1.736||
|WestSussexCountyCouncil-InfectionControl Fund|1,039||
|CanterburyCity Council -BusinessRatesRelief|50.387||
|Othergrantsfrominstitutions:|171,776||
||843.384||
|Grantsfrominstitutions|||
|NationalLotteryCommunity Fund|100,000||
|HEEKSS|24,000||
|ColyerFergusson|15,000||
|PargiterTrustFundviaKentCommunityFoundation|10,000||
|NationalEmergenciesTrustviaKentCommunityFoundation|4,000||
|HealthEducationEngland|8,000||
|KentCountyCouncil|6,076||
|KentCommunityFund|4,700||
|Other|||
||171,776||
##
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|4|OTHER TRADING INCOME||||2021|2020|
|---|---|---|---|---|---|---|
||||||£|6|
||Income from shops||||16.651|63,611|
||Holidaybungalows||||484|33,720|
||Accommodation rentals||||78,439|65,173|
||Income from Theatre in the Park||||-|43,263|
||Events income||||8,566|32,046|
||Other income||||1,342|-|
||||||105,482|237,813|
|5|INVESTMENT INCOME||||2021|2020|
||||||£|£|
||Other interest||||835|2,146|
||||||835|2,146|
|6|OTHER INCOME||||2021|2020|
||||||£|£|
||Client and other recharges||||22,719|40,097|
||Other||||8,786|15,621|
||||||31,505|55,718|
|7|EXPENDITURE||||2021|2020|
|||Staff|Direct|Support|||
|||Costs|Costs|Costs|
Total|Total|
|||£|£|£|£|12|
||Costsofraising funds|76,144|54,176|59,423|189,743|249,504|
||Care service costs|6,774,499|1,569,387|2,392,969|10,736,855|10,194,862|
|||6,850,643|1,623,563|2,452,392|
10,926,598|10,444,366|
||Includedin direct costs and support|costsare staff|costsof£768,326 (2020:||£778,341) which|areallocated|
||above.||||||
|8|COSTSOFRAISINGFUNDS||||2021|2020|
||||||E|55|
||Charity shops||||26,793|30,124|
||Holiday homes||||696|13,426|
||Theatre in the Park||||3,421|32,921|
||Fundraising||||99,410|115,447|
||Allocated support costs||||59,423|57,586|
||||||189,743|249,504|
##
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|SUPPORTCOSTSBREAKDOWNBY|SUPPORTCOSTSBREAKDOWNBY|ACTIVITY||||||
|---|---|---|---|---|---|---|---|
||Care|Supported|DayOther trading||Fundraislng|Governance|Total|
||service|
llvlng|services|||||
||£|
£|E|E|E|E|£|
|Management|202.109|5.602|7,798|-|2,421|24.215|242.145|
|Humanresources|214.826|12.470|8.457|3.900|-|9.749|249.402|
|Financeandpayroll|174,006|20.686|14,602|7,301|2.434|24.336|243.365|
|InformationTechnology|151.840|9.230|13.846|462|9.230|-|184.608|
|FacilitiesManagement|1.092.630|14.268|77,519|17.331|6.893|-|1,208,641|
|Generaloffice|253,204|10.893|15,005|433|9,018|35,678|324,231|
||2,088,615|73.149|137,227|29,427|29.996|93.978|2,452,392|
##
||Thistableshowsthe cost of themaincharitableactivities and thesourcesofincomedirectlytosupportthoseactivities.|Thistableshowsthe cost of themaincharitableactivities and thesourcesofincomedirectlytosupportthoseactivities.|Thistableshowsthe cost of themaincharitableactivities and thesourcesofincomedirectlytosupportthoseactivities.|Thistableshowsthe cost of themaincharitableactivities and thesourcesofincomedirectlytosupportthoseactivities.|Thistableshowsthe cost of themaincharitableactivities and thesourcesofincomedirectlytosupportthoseactivities.|
|---|---|---|---|---|---|
|||Residential|Day|Community|Total|
|||care opportunites||care||
|||£|2|E|E|
||Costs|9.270.295|316.999|1,121,407|10,708,701|
||DirectIncome|(9,386,039)|(147,284)|(1,110,459)|(10,643,782)|
||Netcostfunded/(incomecontribution)fromother|||||
||income|4115.744)|169,715|10,948|64,919|
|11|NETlNCOME|||2021|2020|
|||||£|£|
||Netexpenditureisstatedaftercharging:|||||
||Depreciationoftangiblefxed assets|||305.011|279.550|
||Auditors'remuneration|||||
||-audit|||14.400|14.022|
||-otherservices|||2,760|-|
||-underI over provision|||(504)|1,220|
||Lossondisposaloffixedassets|||2,962|-|
||Rentalsunderoperatingleases|||22.350|27,304|
|12|EMPLOYEES|||2021|2020|
|||||£|£|
||Wagesandsalarycosts|||6.862.861|6,612,514|
||SocialSecuritycosts|||501,590|455,101|
||Pensioncontributions|||234.973|233.268|
||Apprenticeshiplevy|||19.545|17,589|
|||||7,618,969|7.318.472|
||Theaveragenumberofemployees.byheadcount.duringtheyear|||383|404|
||Theaveragenumberofemployees.byfulltimeequivalent.duringtheyear|||312|306|
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|12|EMPLOYEES(continued)|2021|2020|
|---|---|---|---|
||Staffwerecategorisedasfollows:|||
||Carers|207|187|
||Nurses|9|9|
||Ancillary|54|53|
||Daycare/Lifestyles|10|21|
||Admin|19|24|
||Therapy|2|2|
||Senior Management|6|4|
||Registered Home Managers|5|6|
|||312|306|
||The number of employees with remuneration in excess of £60,000 was as follows:|||
||£60,001-£70,000|1|1|
||£80,001-£90,000|1|1|
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|15|TANGIBLEASSETS|Freeholdland,|
Building|Furniture,|
Cars,coach|Total|
|---|---|---|---|---|---|---|
|||buildings,car|
improvements|fttingsand|and ambulance||
|||park andleisure||computer|||
|||complex||equipment|||
|||2|E||E|2|
||Cost||||||
||Asat1 April2020|5,569,826|1,151,052|1,563,312|216,654|8,500,844|
||Additions|-|20,292|170,984|-|191,276|
||Disposals|-|-|(96)|
(32,432)|(32,528)|
||At31March2021|5,569,826|1,171,344|1,734,200|184,222|8,659,592|
||Depreciation||||||
||Asat1April2020|330,791|982,408|1,318,783|151,675|2,783,657|
||Chargeforyear|98,929|50,142|139,817|16,123|305,011|
||Eliminatedondisposal|-|-|(95)|
(29,471)|(29,566)|
||At31March2021|429,720|1,032,550|1,458,505|138,327|3,059,102|
||Net book values||||||
||At31March2021|5,140,106|138,794|275,695|45,895|5,600,490|
||At31March2020|5,239,035|168,644|244,529|64,979|5,717,187|
||Assetsheld underfnance lease obligations:||||||
||NetBookvalue||||||
||At31March2021|-|-|11,424|-|11,424|
||At31March2020|-|-|22,135|-|22,135|
|16|DEBTORS||||2021|2020|
||||||E|E|
||Tradedebtors||||798,954|963,835|
||Other debtors||||417,798|381,405|
||Prepaymentsandaccrued income||||496,851|387,194|
||||||1,713,603|1,732,434|
||Amounts falling dueaftermorethanoneyear||andincluded inthedebtors||||
||aboveare:||||2021|2020|
||||||£|£|
||Other debtors||||398,000|367,000|
|17|CURRENTASSETINVESTMENTS||||2021|2019|
||||||£|£|
||Asat 1 April 2020||||173,611|-|
||Transferredfromfixedassets||||-|173,611|
||At31March2021||||173,611|173,611|
||Currentassetinvestmentsrepresentsthecharity'sfreeholdlandwhichisonthe||||marketforsale.||
|18|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||2021|2020|
||||||2|£|
||Bankloansandoverdrafts||||106,367|101,288|
||Tradecreditors||||395,150|484,269|
||Financeleaseobligations||||8,568|8,568|
||Othertaxesandsocialsecurity||||151,193|365,459|
||Othercreditors||||530,356|482,829|
||||||1,191,634|1,442,413|
##
##
|19|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR|2021|2020|
|---|---|---|---|
|||£|£|
||Bankloans|1,028,494|1,137,592|
||Finance lease obligations|5,712|14,280|
||Deferredincome|14,420|14,954|
|||1,048,626|1,166,826|
|19.1|Bank loans|2021|2020|
|||£|£|
||Withinoneyear|106,367|101,288|
||In twotofiveyears|418,677|425,741|
||After more than five years|609,817|711,851|
|||1,134,861|1,238,880|
|19.2|Finance leaseobligations|2021|2020|
|---|---|---|---|
|||£|£|
||Withinoneyear|8,568|8,568|
||In twotofve years|5,712|14,280|
|||14,280|22,848|
##
||Note|2021|2020|
|---|---|---|---|
|SCHEME:||£|£|
|The Pensions Trust- The Growth Plan|19.1|73,359|86,921|
|Kent County Council Pension Fund|19.2|809,000|779,000|
|||882,359|865,921|
##
##
##
##
##
##
##
##
|SCHEME: TPTRetirementSolutions(formerlyThePensionsTrust-TheGrowthPlan)|SCHEME: TPTRetirementSolutions(formerlyThePensionsTrust-TheGrowthPlan)|SCHEME: TPTRetirementSolutions(formerlyThePensionsTrust-TheGrowthPlan)||
|---|---|---|---|
|PRESENTVALUESOFPROVISION|2021|2020|2019|
||£|£|it|
|Present valueofprovision|73,359|86,921|105,443|
|RECONCILIATIONOFOPENINGANDCLOSINGPROVISIONS||2021|2020|
|||£|£|
|Provisionatstartofperiod||86,921|105,443|
|Unwindingofthe discount factor (interest expense)||1.953|1,334|
|Defcit contribution paid||(18,024)|(17,499)|
|Remeasurements - impactofany change in assumptions||2,509|(2.357)|
|Provisionatendofperiod||73,359|86,921|
|INCOMEANDEXPENDITUREIMPACT||2021|2020|
|||£|£|
|Interest expense||1 ,953|1 ,334|
|Remeasurements—impactofanychangeinassumptions||2,509|(2,357)|
|Costs recognised in income and expenditure account||4,462|(1,023)|
|ASSUMPTIONS|2021|2020|2019|
||% perannum% perannum% perannum|||
|Rateofdiscount|0.66|2.53|1.39|
|DEFICITSCONTRIBUTIONSCHEDULE|2021|2020|2019|
|---|---|---|---|
||£|£|£|
|Year 1|18,564|18,024|17,499|
|Year2|19,121|18,564|18,024|
|Year 3|19,695|19,121|18,564|
|Year 4|16,905|19,695|19,121|
|Year 5||16,905|19,695|
|Year 6|||16,905|
|Year 7||||
|Year 8||||
##
##
##
##
|Principalactuarialassumptions|2021|2020|
|---|---|---|
||%|%|
|Rateofincreaseinsalaries|3.80|3.00|
|Rateofincreaseinpension payment|2.80|2.00|
|Discount rate|2.00|2.35|
|Infationassumption-RPI|2.80|2.80|
|infation assumption - CPI|2.40|2.00|
||2021|2020|
|---|---|---|
|Retiring today|||
|Males|21.6|21.8|
|Females|23.6|23.7|
|Retiring in 20 years|||
|Males|22.9|23.2|
|Females|25.1|25.2|
|TheFoundation'sshare of theassetsin the schemewere:|||
||2021|2020|
||E|E|
|Equities|2,223,000|1,683,000|
|Bonds|431.000|356,000|
|Property|357,000|372.000|
|Gilts|21.000|21.000|
|Other assets|171.000|72,000|
|Targetreturnportfolio|249,000|231,000|
|Total market valueofassets|3,452,000|2,735,000|
|Amountrecognisedin theStatementofFinancialActivities|2021|2020|
|---|---|---|
||£|£|
|Current service cost|81.000|153,000|
|Net interestcost|18,000|31.000|
|Administration expenses|2.000|2.000|
|Total operating charge|101.000|186,000|
##
##
|20|PENSIONANDOTHERPOST-RETIREMENTBENEFITCOMMITMENTS||(Continued)|
|---|---|---|---|
||Changes in the present value of defined benefit obligations wereasfollows:|2021|2020|
|||£|£|
||At1 April2020/2019|3,514,000|4.277.000|
||Current service cost|81,000|107,000|
||Interest cost|81.000|102,000|
||Changeinfnancial assumptions|811,000|(272,000)|
||Change in demographic assumptions|(37,000)|(71,000)|
||Experience loss/(gain)ondefined benefit obligation|(47,000)|(644,000)|
||Estimated benefits paid|(155,000)|(47,000)|
||Past service costs. including curtailments|-|46,000|
||ContributionsbyScheme participants|13,000|16,000|
||At 31 March2021/2020|4,261,000|3,514,000|
||Changesin the fair valueofacademy’sshareofschemeassets:|2021|2020|
|||£|£|
||At 1April2020/2019|2,735,000|2,924,000|
||Interest on assets|63.000|71.000|
||Return on assets less interest|746,000|(290,000)|
||Other actuarial gains/(losses)|-|(4,000)|
||Administration expenses|(2,000)|(2,000)|
||Employercontributions|52,000|67,000|
||ContributionsbyScheme participants|13,000|16,000|
||Estimated benefts paid|(155,000)|(47,000)|
||At 31March2021/2020|3,452,000|2,735,000|
##
||||||
|---|---|---|---|---|
|DESIGNATEDFUNDS|At1April|New|Designations|At 31 March|
||2020|designations|released|2021|
||£|£|£|£|
|Designatedfunds|||||
|Pension bond|336,000|38,000|-|374,000|
|Performance bond|24,000|-|-|24,000|
|Fixed asset reserve|4,478,307|-|(12,678)|4,465,629|
|Defined benefit pension funds|(865,921)|(16,438)|-|(882,359)|
||3,972,386|21,562|(12,678)|3,981,270|
|COMPARATIVE YEAR|At 1April|New|Designations|At 31 March|
||2019|designations|released|2020|
||£|£|£|£|
|Designatedfunds|||||
|Pensionbond|343,000|-|(7,000)|336.000|
|Performancebond|24,000|-|-|24,000|
|Fixed asset reserve|4,471,008|7,299|-|4,478,307|
|Defnedbeneftpensionfunds|(1,458,000)|592,079|-|(865,921)|
||3,380,008|599,378|(7,000)|3,972,386|
##
##
##
##
##
##
##
|RESTRICTEDRESERVES|At1April||||At31March|
|---|---|---|---|---|---|
||2020|Income|Expenditure|Transfers|2021|
||£|£|£|£|£|
|Coach House Mews|88,197|-|-|(1.667)|86.530|
|FootprintsandRedwalls|36,156|27.143|(18.275)|-|45,024|
|Lady Dane Farmhouse Residents chairs|1,575|-|-|-|1.575|
|Strode Park House/Coach House|8,000|-|-|-|8.000|
|NationalLottery Community Fund|-|100,000|(100,000)|-|-|
|COVID-19 grants|-|520.962|(520.962)|-|-|
|Nursing grants|-|32,000|(22,000)|-|10,000|
|Otherfunds|27.873|46.626|(13,659)|(17.210)|43,630|
||161,801|726,731|(674.896)|(18.877)|194.759|
||At1April||||At 31 March|
|COMPARATIVE YEAR|2019|Income|Expenditure|Transfers|2020|
||E|E|£|£|£|
|CoachHouseMews|89.864|-|-|(1,667)|88,197|
|Footprints and Redwalls|148,522|40,447|(500)|(152,313)|36,156|
|Lady Dane Farmhouse Residents chairs|1.575|-|-|-|1.575|
|StrodeParkHouse/Coach House|8,000|-|-|-|8.000|
|Other funds|16,438|19,241|(3,806)|(4.000)|27.873|
||264,399|59,688|(4,306)|(157.980)|161.801|
##
##
##
##
##
##
##
##
##
##
##
##
|ANALYSIS OF NET ASSETS|||||
|---|---|---|---|---|
||Unrestricted|Designated|Restricted|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|Fixed assets|-|5,600,490|-|5,600,490|
|Current assets|2,042,217|398,000|194.759|2,634,976|
|Current liabilities|(1,085,267)|(106,367)|-|(1,191,634)|
|Long term liabilities|(20,132)|(1,028,494)|-|(1,048,626)|
|Defned beneft pensions|-|(882,359)|-|(882,359)|
||936,818|3,981,270|194,759|5,112,847|
|COMPARATIVE YEAR|Unrestricted|Designated|Restricted|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|Fixed assets|-|5,717,187|-|5,717,187|
|Current assets|1,554,129|360,000|161,801|2,075,930|
|Current liabilities|(1,341,125)|(101,288)|-|(1,442,413)|
|Long term liabilities|(29,233)|(1,137,593)|-|(1,166,826)|
|Defnedbeneftpensions|-|(865,92f|-|(865,921)|
||183,771|3,972,385|161,801|4,317,957|
|OPERATINGLEASECOMMITMENTS|||||
|Total future minimum lease payments under|non-cancellable operating leases areasfollows:||||
||||Otheroperatingleases||
||||2021|2020|
||||£|1:|
|Within oneyear|||25,673|23,029|
|Betweentwoandfiveyears|||46,793|41,296|
||||72,466|64,325|
##
##
##
|27|RECONCILIATIONOFNETINCOMETONETCASHINFLOW|RECONCILIATIONOFNETINCOMETONETCASHINFLOW|FROM|||
|---|---|---|---|---|---|
||OPERATINGACTIVITIES|||2021|2020|
|||||£|£|
||Netincomefortheyear|||811,328|(48,768)|
||Investment income|||(835)|(2,146)|
||Financing costs|||24.622|23.506|
||Depreciationoftangiblefxed assets|||305,011|279,550|
||Lossondisposaloffxedassets|||2,962|-|
||(lncrease)/decrease in debtors|||18,831|(56,767)|
||Increaseincreditors|||(255,857)|335,616|
||Decreaseinlong term creditors|||(534)|(534)|
||(lncrease)/decrease in stocks|||1.322|2,971|
||Net cash infowfromoperatingactivities|||906,849|533,428|
|28|RECONCILIATIONOFNETCASHFLOWTOMOVEMENTIN||NETFUNDS|2021|2020|
|||||£|£|
||increase/(decrease) in cash|||579,199|(43,040)|
||Repayment of other loan|||104,019|131,236|
||Movementinnet debt|||683,218|88,196|
||Netdebtat1April2020|||(1,183,014)|(1,271,210)|
||Netdebtat31March2021|||(413,716)|(1,183,014)|
|||||Non-cash|At 31March|
|29|ANALYSIS OF NET DEBT|At 1April2020|Cashflow|changes|2021|
|||£|£|£|£|
||Cashatbank andinhand|141,946|579,199|-|721,145|
|||141,946|579,199|-|721,145|
||Debt due within one year|(101,288)|104.019|(106,396)|(103,665)|
||Debt due after one year|(1,137,592)|-|106,396|(1,031,196)|
|||(1,238,880)|104,019|-|(1,134,861)|
|||(1,096,934)|683,218|-|(413,716)|