2021-03-31-accounts - Solden Hill House Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Reference and Administrative Details
Report ofthe Trustees	2	to	9
Report ofthe Independent Auditors	10	to	12
Statement of Financial Activities		13
Statement of Financial Position		14
Statement ofCash Flows		15
Notes to the Financial Statements	16	to	37
Detailed Statement of Financial Activities	38	to	39

								2021	2020
						Unrestricted	Restricted	Total	Total
						funds	funds	funds	funds
									as restated
					Notes	F			E
INCOME AND ENDOWMENTS				FROM
Donations and legacies					3	30,474	73,172	103,646	28,382
Charitable activities
General Care						1,232,854		1,232,854	1.349,539
Supported Living						405,682		405,682	188,653
Investment income						1,150		1,150	7,011
Total						1,670,160	73,172	1,?43,332	1,573,585
EXPENDITURE ON
Charitable activities
General Care						1,184,898	73,734	1,258,632	1,396,061
Supported Living						351,818		351,818	94,924
Pension Scheme						59,000		59,000	70,000
Pension scheme buyout									121,567
Total						1,595,716	73,734	1,669,450	1,682,552
Net gains on investments									4,750
NET INCOME/(EXPENDITURE)						74,444	(562)	73,882	(104,217)
Other recognised gains/(losses)
Actuarial gains/(losses)		on	defined benefit
schemes						(1ee,ooo)		(188,000)	53,000
Unrealised gains on pension scheme assets						91,000		91,000	78,000
Net movement in funds						(22,556)	(562)	(23,118)	26,783
RECONCILIATION OF		FUNDS
Total funds brought	forward
As previously reported						1,086,613	2,317,974	3,404,587	3,260,379
Prior year adjustment					12	699,938	-	699,938	817,363
As restated						1,786,551	2,317,974	4,104,525	4,077,742
TOTAL FUNDS CARRIED			FORWARD			1,763,995	2,317,412	4,061,407	4,104,525
CONTINUING OPERATIONS
All income and expenditure			has	arisen from	continuing	activities.

		2021	2020
			as restated
	Notes	E
FIXEDASSETS
Tangible assets	13	4,966,293	4,198,155
CURRENT ASSETS
Stocks	14	5,231	1,635
Debtors	15	114,541	97,126
Cash at bank and in hand		174,872	377,953
		294,644	476,714
CREDITORS
Amounts falling due within one year	16	(216,122)	(133,344)
NET CURRENT ASSETS		78,522	343,370
TOTAL ASSETS LESSCURRENT
LIABILITIES		5,044,815	4,541,525
CREDITORS
Amounts falling due after more than one year	17	(410,408)
PENSION LIABILITY	23	(553,000)	(43?,000)
NET ASSETS		4.081,407	4,104,525
FUNDS	22
Unrestricted funds		1,763,995	1,786,551
Restricted funds		2,317,412	2,317,974
TOTAL FUNDS		4,081.407	4,104,525

				2021	2020
					as restated
			Notes		E
Cash flows from operating		activities
Cash generated from operations Interest paid			26	133,964 ~2,119)	(56,747)
Net cash provided by/(used		in) operating	activities	131,845	$56747).
Cash flows from Investing		activities
Purchase oftangible fixed assets				(786,476)	(275,935)
Sale oftangible fixed assets				400	2,948
Sale of fixed asset investments					261,403
Interest received				1,150	3,561
Dividends received					3,450
Net cash used in investing	activities			)754.926)	~4,573)
Cash flows from financing		activities
New loans in year				450,000
Net cash provided by financing activities				450 000
Change in cash and cash		equivalents
in the reporting period				(203,081)	(61,320)
Cash and cash equivalents		at the
beginning ofthe reporting		period		377,953	439,273
Cash and cash equivalents		at the end
ofthe reporting period				174,972	377,953

					2021	2020
						as restated
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
				E	E	E
Donations			23,590		23,590	28,382
Grants			6,884	73,172	80,056
			30,474	73,172	103,646	28.382
Grants received,		included	in the above, are as follows:
					2021	2020
						as restated
					E	E
Northamptonshire		County	Council		73,172
Oxfordshire	County Council				5,139
North Somerset		Council			1,200
Norfolk County		Council			545
					80,056

INVESTM	ENT INCOME
						2021	2020
							as restated
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
					F	f	f
Income from listed investments							3,450
Interest receivable				1,150		~1150	3,561
				1,150		1,150	7,011
INCOME	FROM CHARITABLE ACTIVITIES
						2021	2020
							as restated
		Activity				F	F
Fees and	allowances	General Care				1,232,746	1,349,389
Other income		General Care				108	150
Fees and	allowances	Supported	Living			371,746	1?3,239
Charitable	rental income	Supported	Living			33,936	15,414
						1,638,536	1,538,192

CHARITA	BLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs f	note 7) f	Totals f
General Care		1,240,752	17,880	1,258,632
Supported	Living	351,818		351,818
Pension Scheme		48,000	11,000	59,000
		1,640,520	28,880	1,669,450

							Governance
SUPPORT COSTS
						Finance	costs	Totals
							E
General	Care					12,840	5,040	17,880
Pension	Scheme					11,000		11,000
						23,840	5,040	2a,aao
Support	costs, included	in the above,	are as	follows:
							2021	2020
								as restated
				General		Pension	Total	Total
				Care f		Scheme	activities f	activities
Bank charges Interest payable and similar charges				10,721 2,119		11,000	10,721 13,119	1,222 12,000
Auditors'	remuneration			4,440			4,440	4,320
Trustees	insurance				600		600	1,035
				17,880		11,000	28,880	18,577
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
							2021	2020
								as restated
							F	E
Auditors'	remuneration						4,440	4,320
Depreciation -owned assets Deficit/(surplus) on disposal offixed Auditors remuneration for non-audit			assets work				15,963 1,975 4,934	13,667 (23) 6,837

STAFF COSTS
	2021	2020
		as restated
		E
Wages and salaries	984,474	940,988
Social security costs	81,405	71,277
Other pension costs	46,870	48,679
	1,112,749	1.060,944

2021		2020
	as	restated
50		43

2021		2020
	as	restated
		1

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
	Unrestricted	Restricted	Total
	funds	funds	funds
			as restated
			E
INCOME AND ENDOWMENTS FROII
Donations and legacies	28,382		28,382
Charitable activities
General Care	1,349,539		1,349,539
Supporled Living	188,653		188,653
Investment income	7,011		7,011
Total	1,573,585		1,573,585
EXPENDITURE ON
Charitable activities
General Care	1,379,235	16,826	1,396,061
Supported Living	94,924		94,924
Pension Scheme	70,000		70,000
Pension scheme buyout	121,567		121,567
Total	1,665,726	16,826	1,682,552
Net gains on investments	4,750		4,750
NET INCOME/(EXPENDITURE)	(87,391)	(16,826)	(104,217)
Transfers between funds	5,362	~5,362)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes	131,000		131,000
Net movement In funds	48,971	(22,188)	26,783
RECONCILIATION OF FUNDS
Total funda brought forward As previously reported	920,217	2,340,162	3,260,379
Prior year adjustment	817,363	-	817,363
As restated	1,737,580	2,340,162	4,077,742
TOTAL FUNDS CARRIED FORWARD	1.766,55'I	2,317,974	4,194,525

TANGIBLE FIXEDASSETS
		Improvements	Fixtures
	Freehold	to	and
	property	property	fittings
	E		E
COST
At 1 April 2020	3,770,000	374,384	430,627
Additions		760,412	17,213
Disposals
At 31 March 2021	3,770,000	1,134,796	447,840
DEPRECIATION
At 1 April 2020			398,601
Charge for year			5,329
Eliminated on disposal
At 31 March 2021			403,930
NET BOOK VALUE
At 31 March 2021	3.770,000	1,134,796	43,910
At 31 March 2020	3,770,000	374,384	32,026
	Motor	Computer
	vehicles f	equipment	Totals E
COST
At 1 April 2020	70,165	31,153	4,676,329
Additions Disposals	~2,850)	8,851 ~3,462)	786,476 ~6,312)
At 31 March 2021	67,315	36,542	5,456,493
DEPRECIATION
At 1 April 2020	56,208	23,365	478,174
Charge for year Eliminated on disposal	4,738 ~475)	5,896 ~3,462)	15,963 ~3,937)
At 31 March 2021	60,471	25,799	490,200
NET BOOK VALUE
At 31 March 2021	6,844	10,743	4,9M,293
At 31 March 2020	13,957	7,788	4,198,155

STOCKS
				2021	2020
					as restated
				E	E
Stocks				5,231	1,635
DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
				2021	2020
					as restated
					E
Trade debtors				94,898	74,077
Other debtors				2,300	4,388
Prepayments	and accrued		income	17,343	18,661
				114,541	97,126
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
				2021	2020
					as restated
					E
Bank loans and overdrafts			(see note 18)	39,592
Trade creditors				72,712	41,307
Social security	and other		taxes	19,517	17,729
Other creditors				12,422	15,259
Accruals and	deferred	income		71,879	59,049
				216,122	133.344

Balance	as at 31	March 2020		48,241
Amount	released	to incoming	resources	(48,241)
Amount	deferred	in year		60,696
Balance	as at 31	March 2021		60.696

17.	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR	FALLING DUE AFTER MORE THAN ONE YEAR
						2021	2020
							as restated
						E	E
	Bank loans	(see note	18)			410.408
18.	LOANS
	An analysis	ofthe maturity		of	loans is given below:
						2021	2020
							as restated
							E
	Amounts falling due within			one year on demand:
	Bank loans					39,592
	Amounts falling between one				and two years:
	Bank loans	- 1-2years				40,622
	Amounts falling due between				two and five years:
	Bank loans	- 2-5years				129,195
	Amounts falling due in		more than five years:
	Repayable	by instalments:
	Bank loans	repayable	in more than 5years			240,601
19.	LEASING	AGREEMENTS

Minimum lease payments under non-cancellable opera	ting leases fall due as follows:
	2021	2020
		as restated
		E
Within one year	6,868	6,869
Between one and five years	709	7,578
	7,577	14,447

		2021		2020
			as	restated
		E		E
Bank	loans	450,000

				2021	2020
					as restated
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		E	E	f	E
Fixed assets		2,657,474	2,308,819	4,966,293	4,198,155
Current	assets	286,051	8,593	294,644	476,714
Current	liabilities	(216,122)		(216,122)	(133,344)
Long term liabilities Pension liability		(410,408) ~553,000)		(410,408) ~553,000)	~437,000)
		1,763,995	2317,412	4,051,407	4,104,525

MOVEMENT IN FUNDS	MOVEMENT IN FUNDS	MOVEMENT IN FUNDS
				Prior	Net
				year	movement	At
			At 1/4/20	adjustment	in funds	31/3/21
			E			F
Unrestricted funds
General fund			1,135,955		93,444	1,229,399
Revaluation reserve			1,056,947			1,056,947
Fair Value Reserve			30,630			30,630
Pension Liability Fund			(1,136,938)	699,938	(116,000)	(553,000)
Share Capital			19			19
			1,086,613	699,938	(22,556)	1,763,995
Restricted funds
Apps House Fund			416,389			416,389
Giles House Fund			72,396			72,396
Innes House Fund			147,655			14?,655
Pottery Fund			14,544			14,544
FJApps Training	Fund		8,133		(2,578)	5,555
Welfare Fund			6,388			6,388
Revaluation Reserve			1,642,371			1,642,371
Marks Donation			5,000			5,000
Screwfix Foundation			3,500			3,500
Tilney Donation			1,598		(190)	1,408
Workforce Capacity		Fund			2,206	2,206
			2,31?,974		~562)	2,317.412
TOTAL FUNDS						4,061,407

Net movement in funds, included in t	he above are as follow	s:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
			F	F
Unrestricted funds
General fund Pension Liability Fund	1,670,160	(1,576,716) ~19,000)	~97,000)	93,444 ~116.000)
	1,670,160	(1,595,716)	(97,000)	(22,556)
Restricted funds
FJApps Training Fund Tilney Donation		(2,578) (190)		(2,578) (190)
COVID-19 Infection control	48,922	(48,922)
Workforce Capacity Fund	2,206			2,206
COVID-19 Support Fund	10,500	(10,500)
Rapid Testing Fund Hardship Fund	7,964 3,580	(7,964) ~3.580)
	73,172	~73,734)		~562)
TOTAL FUNDS	1,743,332	j1,669,450)	~97000)	,~23,118)

MOVEMENT IN F	UNDS - con	tinued	tinued
Comparatives for	movement	in funds
		I
				Prior	Net	Transfers
				year	movement	between	At
			At 1/4/19	adjustment	in funds	funds	31/3/20
			f.	E			f.
Unrestricted funds
General fund		1,053,984			(73,391)	155,362	1,135,955
Revaluation reserve		1,056,947					1,056,947
Fair Value Reserve			30,630				30,630
Designated Fund			150,000			(150,000)
Pension Liability Fund		(1,371,363)		817,363	117,000		(437,000)
Share Capital			19				19
			920,217	817,363	43,609	5,362	1,786,551
Restricted funds
Apps House Fund			416,389				416,389
Giles House Fund			72,396				72,396
lnnes House Fund			147,655				147,655
Pottery Fund			14,544				14,544
Generator Fund			464		(464)
FJ Apps Training	Fund		24,535		(15,510)	(892)	8,133
Welfare Fund			6,388				6,388
Sensory Fund			561		(561)
Revaluation Reserve		1,642,371					1,642,371
Bike Fund			4,470			(4,470)
Marks Donation			5,000				5,000
Screwfix Foundation Tilney Donation			3,500 1,889		~291)		3,500 1,598
		2,340,162			~16,826)	~5,362)	2,317,974
TOTAL FUNDS		3,260,379		817,363	26,783		4.104,525

Compara	tive net	movement in fund	s, included in the above	are as follows:
			Incoming	Resources	Gains and	Movement
			resources f	expended	losses	in funds E
Unrestricted funds
General Pension	fund Liability	Fund	1,573,585	(1,651,726) ~14,000)	4,750 131,000	(73,391) 117,000
			1,573,585	(1,665,726)	135,750	43,609
Restricted funds
Generator Fund				(464)		(464)
FJApps	Training	Fund		(15,510)		(15,510)
Sensory Fund Tilney Donation				(561) ~291)		(561) ~291)
				~16.826)		~16.826)
TOTAL	FUNDS		1.573,585	~1,682,552)	135,750	26,783

		Defined	benefit
		pension	plans
		2021	2020
			as restated
		E
Present value offunded obligations		(1,661,000)	(1,481,000)
Fair value of plan assets		1,108,000	1,044,000
		(553,000)	(437,000)
Present value of unfunded	obligations
Deficit		~553.000)	~437,000)
Net liability		~553.000)	~437.000)

The amounts recognised in the Statement of Financial Act	ivities are as follows:
	Defined	benefit
	pension	plans
	2021	2020
		as restated
	E	E
Current service cost
Net interest from net defined benefit
asset/liability	11,000	12,000
Past service cost		8,000
Administration expenses	48,000	50,000
	59,000	70,000
Actual return on plan assets	23,000	21,000

Changes	in the present	value ofthe d	efined benefit obligati	on are as follows:
				Defined	benefit
				pension	plans
				2021	2020
					as restated
				E
Opening	defined benefit	obligation		1,481,000	1,535,000
Past service cost					8,000
Interest	cost			34,000	33,000
Actuarial	losses/(gains)			197,000	(45,000)
Benefits	paid			(42,000)	(42.000)
Actuarial financial	(gains)/losses assumptions	from changes	in	~9.000)	~9,000)
				1,661,000	1,481,000

Changes in t	he	fair value ofsche	me assets are as follows:
				Defined	benefit
				pension	plans
				2021	2020
					as restated
					E
Opening fair	value ofscheme assets			1,044,000	981,000
Contributions	by employer			40,000	56,000
Administration		expenses		(48,000)	(50,000)
Expected return				23,000	21,000
Benefits paid				(42,000)	(42,000)
Return on plan		assets (excluding	interest
income)				91,000	78,000
				1,108,000	1.044.000

The am	ounts recognise	d in other	reco	gnised gains and loss	es are as follows:
					Defined	benefit
					pension	plans
					2021	2020
						as restated
Actuarial (gains)/losses		from changes		in
financial	assumptions				9,000	8,000
Return	on plan assets	(excluding	interest
income)					91,000	78,000
Actuarial gains/(losses)					i197,000)	45,000
					~97,000)	131,000

The major	cate	gories of scheme assets as amounts	of total scheme assets are as follows:
			Defined	benefit
			pension	plans
			2021	2020
				as restated
			f
Equities			468,000	345,000
Diversified	growth funds		343,000	339,000
Liability driven		investments	199,000	218,000
Cash			98,000	142,000
			1,108,000	1,044,000

	Principal ac averages):	tuaria	l assumpt	ions at the Statem	ent of F	inancial	Position date	(expressed	as weighted
								2021	2020
									as restated
	Discount rate							1 90'/	2.30%
	RPI inflation							3.20'/0	2.50%
	CP I inflation							2.60%	1.90%
	Life expectancies		(in years):—
							31 March 2021	31	March 2020
						Males	Females	Males	Females
	For an individual		aged 65at year end			22.1	24.1	21.9	24.3
	At age 65 for an		individual	aged 45 at year end		23.6	25.3	23.3	25.7
24.	CAPITAL COMMITMENTS
								2021	2020
									as restated
									E
	Contracted	but not provided		for in the financial	statements				338,068

ACTIVITIES
				2021	2020
					as restated
Net income/(expenditure) for the reporting			period (as per the
Statement ofFinancial Activities)				73,882	(104,217)
Adjustments for:
Depreciation charges				15,963	13,667
Losses on investments					(4,750)
Loss/(profit) on disposal offixed assets				1,975	(23)
Interest received				(1,150)	(3,561)
Interest paid				2,119
Dividends received					(3,450)
(increase)/decrease	in stocks			(3,596)	3,268
(increase)/decrease	in debtors			(17,415)	45,532
Increase/(decrease)	in creditors			43,186	(17,213)
Difference between	pension charge and cash		contributions	19,000	14,000
Net cash provided	by/(used	in) operations		133,964	~56,747)

27..	ANALYSIS OF CHANGES	ANALYSIS OF CHANGES	ANALYSIS OF CHANGES
				At 1/4/20	Cash flow	At 31/3/21
						E
	Net cash
	Cash at bank and in hand			377,953	{203,081)	174,872
				377,953	{203,081)	174,872
	Debt
	Debts falling	due within	1 year		(39,592)	(39,592)
	Debts falling	due after 1	year		{410.408)	{410.408)
					{450,000)	{450,000)
	Total			377853,	{653,081)	{275,128)
28.	SHARE CAPITAL
	Ordinary share capital				2021 K	2020 f
	Issued and	fully paid
	19Ordinary	shares ofE1 each			19	19

		2021	2020
			as restated
			E
INCOME AND ENDOWMENTS
Donations	and legacies
Donations		23,590	28,382
Grants		80,056
		103,646	28,382
Investment	income
Income from listed investments			3,450
Interest receivable		1,150	3,561
		1,150	7,011
Charitable	activities
Fees and allowances		1,604,492	1,522,628
Charitable	rental income	33,936	15,414
Other income		108	150
		1,638,536	1,538,192
Total incoming resources		1,743,332	1,573,585
EXPENDITURE
Charitable	activities
Wages		984,474	940,988
Social security		81,405	71,277
Pensions		46,870	48,679
Insurance		18,112	13,591
Light, heat,	rates and water	70,106	71,107
Office and	telephone	44,433	35,449
Sundries		26,641	19,374
Catering		32,514	53,746
Household	and laundry	4,760	7,446
Medical		4,332	4,748
Education	and leisure	1,389	14,572
Motor expenses		11,226	17,313
Repairs and maintenance		205,112	137,604
Legal and	professional	24,496	18,179
Staff training		7,288	4,472
Volunteers	and apprenticeships	6,540	5,380
Carried forward		1,569,698	1,463,925

				2021	2020
					as restated
Charitable activities
Brought forward				1,569,698	1,463,925
Accountancy				4,934	6,837
Pension scheme admin	expenses			48,000	58,000
Depreciation oftangible Loss on sale oftangible		fixed fixed	assets assets	15,963 1,975	13,669 ~23)
				1,640,570	1,542,408
Pension scheme buyout
Pension scheme buyout					121,567
Support costs
Finance
Bank charges				10,721	1,222
Bank loan interest				2,119
Expected return on pension			scheme assets	(23,000)	(21,000)
Interest on pension scheme			liabilities	34,000	33,000
				23,840	13,222
Governance costs
Auditors' remuneration				4,440	4,320
Trustees insurance				600	1,035
				5,040	5,355
Total resources expended				1,669,450	1,682,552
Net income/(expenditure)		before gains and
losses				73,882	(108,967)
Realised recognised	gains		and losses
Realised gains/(losses)	on fixed asset
investments					4,750
Net income/(expenditure)				73,882	~104,217)