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|||The Wilverley|Association||
|---|---|---|---|---|
|||Contents|||
|Strategic Report||||1to 2|
|Trustees' Report (including<br>Directors' Report)||||3to 8|
|Statement ofTrustees'|Responsibilities||||
|Independent<br>Auditors'|Report|||10to 13|
|Statement ofFinancial|Activities|||14to 15|
|Balance Sheet||||16|
|Statement ofCash Flows||||17|
|Notes to the Financial|Statements|||18to 31|





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|Reference|and Administrative|and Administrative|and Administrative|Details||||||
|---|---|---|---|---|---|---|---|---|---|
|Chief Executive Officer||||Pam Hall||||||
|Trustees||||Joanne Husband,|Chair||of|Trustees||
|||||Paul Stafford||||||
|||||Jean Burke||||||
|||||A!exandra Bett||||||
|||||Sally Hamilton||||||
|Senior Management||Team||Melanic Barnfather||(appointed|||on 15February 2021) - Finance Manager|
|||||Andrew<br>Harrison|(resigned|||on|24 September 2021) - Home Manger|
|||||Juliet Orman - Home Manager||||||
|||||Lisa Jerram (appointed|||on|10February 2020) - HR Business Partner||
|||||Lisa Street (resigned||on|5|May 2021) - Estates Manager||
|Principal|Office|||Little Haven||||||
|||||Beaulieu Road||||||
|||||Dibden Purlieu||||||
|||||Southampton||||||
|||||Hampshire||||||
|||||SO45 4JF||||||
|Registered|Office|||Little Haven||||||
|||||Beaulieu Road||||||
|||||Dibden Purlieu||||||
|||||Southampton||||||
|||||Hampshire||||||
|||||SO45 4JF||||||
|Company|Registration||Number|817104||||||
|Charity Registration|||Number|237911||||||
|Solicitors||||Paris Smith LLP||||||
|||||1London Road||||||
|||||Southampton||||||
|||||SO15 2AE||||||
|Bankers||||Lloyds Bank pic||||||
|||||39High Street||||||
|||||Lymington||||||
|||||Hampshire||||||
|||||CAF Bank Limited||||||
|||||25 Kings Hill Avenue||||||
|||||King Hill||||||
|||||West Mailing||||||
|Investment|Advisor|||Brewin Dolphin||||||
|||||Vantage Point||||||
|||||Woodwater<br>Park||||||
|||||Pynes Hill||||||
|||||Exeter||||||
|||||EX25FD||||||





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|(Including Incom|e and Expendit|ure<br>Account an|d Statement of|Total Recognis|ed Gains and|Losses)|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|2021|
|||||||f.|
|Income and Endowments|from:||||||
|Donations<br>and legacies|||7,028|650||7,678|
|Charitable<br>activities|||4,239,016|||4,239,016|
|Investment<br>income|||62,044|||62,044|
|Other income|||243,924|||243,924|
|Total Income|||4,552,012|650||4,552,662|
|Expenditure<br>on:|||||||
|Raising funds<br>Charitable<br>activities||6<br>7|(30,069)<br>~4,375,233|~(14,525||(30,069)<br>~4,389,756)|
|Total Expenditure|||(4,405,300)|(14,525)||(4,419,825)|
|Gains/losses<br>on investment|assets||337,287|||337,287|
|Net income/(expenditure)|||483,999|~13,875||470,124|
|Net movement<br>in funds|||483,999|(13,875)||470,124|
|Reconciliation offunds|||||||
|Total funds brought forward|||3,465,311|524,870|560,537|4,550,718|
|Total funds carried forward||19|3,949,310|510,995|560,537|5,020,842|





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|(Including|Incom|e and Expendit|ure<br>Account an|d Statement of|Total Recognis|ed Gains and|Losses)|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|
|||||funds|funds|funds|2020|
|Income and Endowments||from:||||||
|Donations<br>and legacies||||16,241|||16,241|
|Charitable<br>activities||||4,153,846|||4,153,846|
|Investment<br>income||||82,978|||82,978|
|Other income||||10,283|||10,283|
|Total Income||||4,263,348|||4,263,348|
|Expenditure<br>on:||||||||
|Raising funds||||(36,549)|||(36,549)|
|Charitable<br>activities||||(4,484,227)|||(4,484,227)|
|Total Expenditure||||(4,520,776)|||(4,520,776)|
|Gains/losses<br>on investment||assets||(168,039)|||(168,039)|
|Net expenditure||||(425,467)|||425,467)|
|Net movement<br>in funds||||(425,467)|||(425,467)|
|Reconciliation<br>offunds||||||||
|Total funds brought|forward|||3,890,778|524,870|560,537|4,976,185|
|Total funds carried|forward||19|3,465,311|524,870|560,537|4,550,718|





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|||Balance Sheet as at 3|1March 2021|||
|---|---|---|---|---|---|
|||||2021|2020|
||||Note|||
|Fixed assets||||||
|Tangible assets|||13|2,603,361|2,675,021|
|Investments|||14|2,454,686|2,126,265|
|||||5,058,047|4,801,286|
|Current<br>assets||||||
|Stocks|||15|10,000|10,000|
|Debtors|||16|225,830|140,129|
|Cash at bank|and in hand|||150,442|64,816|
|||||386,272|214,945|
|Creditors: Amounts||falling due within one year|17|(423,477)|(465,513)|
|Net current|liabilities|||(37,205)|(250,568)|
|Net assets||||5,020,842|4,550,718|
|Funds ofthe|charity:|||||
|Endowment|funds|||560,537|560,537|
|Restricted income funds||||||
|Restricted<br>funds|||19|510,995|524,870|
|Unrestricted|income|funds||||
|Unrestricted|funds|||3,949,310|3,465,311|
|Total funds|||19|5,020,842|4,550,718|





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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Note|||
|Cash flows from operating|activities||||||||
|Net cash income/(expenditure)|||||||470,124|(425,467)|
|Adjustments<br>to cash flows from non-cash||items|||||||
|Depreciation|||||||110,827|102,514|
|Investment<br>income|||||||(62,044)|(82,978)|
|(Proflit)/loss<br>on disposal ofinvestments|||||||(337,287)|168,039|
||||||||181,620|(237,892)|
|Working capital adjustments|||||||||
|Increase in stocks||||||15||(6,133)|
|(Increase)/decrease<br>in debtors||||||16|(85,701)|16,329|
|Decrease in creditors||||||17|(42,036)|(71,216)|
|Net cash flows from operating<br>activities|||||||53,883|(298,912)|
|Cash flows from investing<br>activities|||||||||
|Interest receivable<br>and similar income||||||4|8||
|Rent receivable from investment<br>property||||||4|20,040|22,250|
|Purchase oftangible fixed assets||||||13|(39,167)|(59,391)|
|Purchase ofinvestments||||||14|(721,779)|(704,553)|
|Sale ofinvestments||||||14|730,645|1,010,783|
|Income from dividends||||||4|41,996|60,728|
|Net cash flows fiom investing|activities||||||31,743|329,817|
|Net increase in cash and cash|equivalents||||||85,626|30,905|
|Cash and cash equivalents<br>at|1April||||||64,816|33,911|
|Cash and cash equivalents<br>at|31March||||||150,442|64,816|
|All ofthe cash flows are derived from continuing|||operations|during|the above two periods.||||





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||||Unrestricted||||
|---|---|---|---|---|---|---|
||||funds||||
|||||Restricted|Total|Total|
||||General|funds|2021|2020|
|||||K|||
|Donations|and legacies;||||||
|Donations||from individuals|7,028|650|7,678|16,241|
||||7,028|650|7,678|16,241|





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|3|Income|fr|om c||harita|ble<br>activities||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|||
||||||||funds|||
|||||||||Total|Total|
||||||||General|2021|2020|
||Residential||fees||||2,946,436|2,946,436|2,737,337|
||Nursing|fees|||||1,265,992|1,265,992|1,307,347|
||Respite and||reablement|||fees|26,588|26,588|109,162|
||||||||4,239,016|4,239,016 .|4,153,846|
|4|Investment||income|||||||
||||||||Unrestricted|||
||||||||funds|||
|||||||||Total|Total|
||||||||General|2021|2020|
|Interest receivable||||and similar income;||||||
||Interest receivable||||on bank deposits||8|8||
|Other income|||from||fixed|asset investments|41,996|41,996|60,728|
|Income from rents|||||||20,040|20,040|22,250|
||||||||62,044|62,044|82,978|
|5|Other income|||||||||
||||||||Unrestricted|||
||||||||funds|||
|||||||||Total|Total|
||||||||General|2021|2020|
|HCC covid||grant|||||197,286|197,286||
|CJRS grant|||||||33,772|33,772||
|Miscellaneous|||income||||12,866|12,866|10,283|
||||||||243,924|243,924|10,283|





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||||||||||Unrestricted|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||funds|||
|||||||||||Total|Total|
||||||||||General|2021|2020|
|||||||||Note||||
|Other investment|||||management||costs;|||||
||Investment||manager|||fees|||10,862|10,862|13,726|
||Investment||property|||costs|||555|555|3,668|
|Allocated||support|||costs||||18,652|18,652|19,155|
||||||||||30,069|30,069|36,549|
|||||||||||Total|Total|
||||||||||Direct costs|2021|2020|
|Investment|||management|||costs|||30,069|30,069|36,549|
|7|Expenditure|||on charitable|||activities|||||
||||||||||Activity|||
||||||||||undertaken|Total|Total|
||||||||||directly|2021|2020|
|Residential|||and nursing|||care|||2,650,785|2,650,785|2,653,466|
|Catering|||||||||455,097|455,097|514,105|
|Premises expenses|||||||||601,563|601,563|647,484|
|General running||||costs|||||682,310|682,310|669,172|
||||||||||4,389,755|4,389,755|4,484,227|





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|8<br>Analysis|ofsupport|costs|costs||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Support costs allocated||to|raising funds||||||||
|||||||Governance|Information||Administration|Total|
|||||Basis of||costs|technology|Staff costs|costs|2021|
|||||allocation|||||||
|Investment|management|costs||10%||491|3,713|5,722|9,410|19,336|
|Support costs allocated||to|charitable||activities||||||
|||||||Governance|Information||Administration|Total|
|||||Basis of||costs|technology|Staff costs|costs|2021|
|||||allocation|||||||
|Little Haven||||30%||1,470|11,136|17,166|28,230|58,002|
|Forest Oaks||||60%||2,940|22 273|34,332|56,459|116,004|
|||||||4,410|33,409|51,498|84,689|174,006|
|9<br>Net incoming/outgoing|||resources||||||||
|Net incoming/(outgoing)||resources||for the year include:|||||||
||||||||||2021|2020|
|Audit fees|||||||||3,767|5,413|
|Other non-audit<br>services|||||||||1,134|1,000|
|Depreciation|offixed assets||||||||110,827|102,514|





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|||2021|2020|
|---|---|---|---|
|Staffcosts during|the year were:|||
|Wages and salaries||2,679,225|2,460,566|
|Social security costs||204,063|206,725|
|Pension costs||60,126|53,447|
|||2,943,414|2,720,738|



|2021||2020||
|---|---|---|---|
|No||No||
||91||71|



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|13 Tangible fixed assets||||
|---|---|---|---|
||Freehold|Furniture||
||Land and|and||
||buildings|equipment|Total|
|Cost||||
|At 1April 2020|3,046,455|810,884|3,857,339|
|Additions|5,157|34,010|39,167|
|At 31March 2021|3,051,612|844,894|3,896,506|
|Depreciation||||
|At 1April 2020|545,393|636,925|1,182,318|
|Charge for the year|70,856|39,971|110,827|
|At 31March 2021|616,249|676,896|1,293,145|
|Net book value||||
|At 31March 2021|2,435,363|167,998|2,693,361|
|At 31March 2020|2,501,062|173,959|2,675,021|





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|14 Fixed|asset investments|||
|---|---|---|---|
|||2021|2020|
|Investment|properties|675,000|675,000|
|Other investments||1,779,686|1,451,265|
|||2,454,686|2,126,265|
|Investment|properties|||
||||Investment|
||||properties|
|Cost or Valuation||||
|At 1April|2020||675,000|
|Provision||||
|At 31March 2021||||
|Net book|value|||
|At 31March 2021|||675,000|
|At 31March 2020|||675,000|



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|Other investments|||||
|---|---|---|---|---|
|||Listed|||
|||investments|Cash deposits|Total|
|Cost or Valuation|||||
|At 1 April 2020||1,392,775|58,490|1,451,265|
|Revaluation||337,287||337,287|
|Additions||341,566|380,213|721,779|
|Disposals||(338,217)|(392,428)|~730,645)|
|At 31March 2021||1,733,411|46,275|1,779,686|
|Net book value|||||
|At 31March 2021||1,733,411|46,275|1,779,686|
|At 31March 2020||1,392,775|58,490|1,451,265|
|Current year revaluation|off337,287 includes realised gain off51,099 and unrealised|gain of1286,188.|||





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|15 Stock||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Stocks||||10,000|10,000|
|16 Debtors||||||
|||||2021|2020|
|Trade debtors||||178,631|118,700|
|Prepayments||||27,174|21,429|
|Other debtors||||20,025||
|||||225,830|140,129|
|Other debtors|includes|insurance|claim off11,163 and income receivable off8,862.|||
|17 Creditors:|amounts|falling due within one year||||
|||||2021|2020|
|Trade creditors||||216,376|132,674|
|Other taxation|and social security|||50,354|50,468|
|Other creditors||||136,796|269,003|
|Accruals||||19,951|13,368|
|||||423,477|465,513|



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|Operating<br>lease commitments<br>Total future minimum<br>lease payments<br>under non-cancellable<br>operating|leases are as follows:||
|---|---|---|
||2021|2020|
|Other|||
|Within one year|4,099||
|Between one and five years||10,284|
||4,099|10,284|





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|19 Funds|||||||||
|---|---|---|---|---|---|---|---|---|
|||||Balance at|||Other||
|||||1April|Incoming|Resources|recognised|Balance at 31|
|||||2020|resources|expended|gains/(losses)|March 2021|
|Unrestricted<br>funds|||||||||
|General|||||||||
|General reserve||||665,103|2,321,698|(2,136,760)|337,287|1,187,328|
|Designated|||||||||
|Property<br>and equipment||fund||1,834,989|2,230,314|(2,268,540)||1,796,763|
|Fees Subsidy Reserve||||915,219||||915,219|
|Repairs and improvements||fund||50,000||||50,000|
|||||2,800,208|2,230,314|2,268,540||2,761,982|
|Total Unrestricted<br>funds||||3,465,311|4,552,012|(4,405,300|337,287|3,949,310|
|Restricted funds|||||||||
|Forest Oaks Gift Fund||||30,760|650|||31,410|
|Little Haven Amenity|Fund|||10,792||||10,792|
|Mrs York bequest||||130,658||||130,658|
|Forest Oaks Benevolent Fund||||148,817||||148,817|
|Little Haven Endowment||Fund||168,551||||168,551|
|Wilverley<br>Association|Benevolent||Fund|35,292||(14,525)||20,767|
|Total restricted<br>funds||||524,870|650|(14,525)||510,995|
|Endowment<br>funds|||||||||
|Expendable|||||||||
|EP Clark Legacy||||48,130||||48,130|
|GF Clark Legacy||||72,043||||72,043|
|A M CHindson<br>Legacy||||211,943||||211,943|
|AFNewitt Legacy||||126,792||||126,792|
|LBM Hindson Legacy||||101,629||||101,629|
|||||560,537||||560,537|
|Total funds||||4,550,718|4,552,662|(4,419,825)|337,287|5,020,842|





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|||||Balance at|||Other||
|---|---|---|---|---|---|---|---|---|
|||||1April|Incoming|Resources|recognised|Balance at 31|
|||||2019|resources|expended|gains/(losses)|March 2020|
||||||'E||||
|Unrestricted<br>funds|||||||||
|General|||||||||
|General reserve||||795,065|2,196,798|(2,158,721)|(168,039)|665,103|
|Designated|||||||||
|Property<br>and equipment|fund|||2,130,494|2,066,550|(2,362,055)||1,834,989|
|Fees Subsidy Reserve||||915,219||||915,219|
|Repairs and improvements||fund||50,000||||50,000|
|||||3,095,713|2,066,550|(2,362,055)||2,800,208|
|Total unrestricted<br>funds||||3,890,778|4,263,348|(4,520,776)|(168,039)|3,465,311|
|Restricted funds|||||||||
|Forest Oaks Gift Fund||||30,760||||30,760|
|Little Haven Amenity|Fund|||10,792||||10,792|
|Mrs York bequest||||130,658||||130,658|
|Forest Oaks Benevolent||Fund||148,817||||148,817|
|Little Haven Endowment||Fund||168,551||||168,551|
|Wilverley<br>Association|Benevolent||Fund|35,292||||35,292|
|Total restricted<br>funds||||524,870||||524,870|
|Endowment<br>funds|||||||||
|Expendable|||||||||
|EP Clark Legacy||||48,130||||48,130|
|GF Clark Legacy||||72,043||||72,043|
|A M C Hindson Legacy||||211,943||||211,943|
|AFNewitt Legacy||||126,792||||126,792|
|LBM Hindson<br>Legacy||||101,629||||101,629|
|||||560,537||||560,537|
|Total funds||||4,976,185|4,263,348|(4,520,776)|(168,039)|4,550,718|





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|||Unrestricted|funds||||
|---|---|---|---|---|---|---|
||||||Endowment|Total funds|
|||||Restricted|fuuds|at 31March|
|||General|Designated|funds|Expendable|2021|
|||||'K|||
|Tangible|fixed assets|246,060|1,796,764||560,537|2,603,361|
|Fixed asset investments||1,489,468|965,218|||2,454,686|
|Current|assets|(124,723)||510,995||386,272|
|Current|liabilities|(423,477)||||(423,477)|
|Total net assets||1,187,328|2,761,982|510,995|560,537|5,020,842|
|||Unrestricted|funds||||
||||||Endowment|Total funds|
|||||Restricted|funds|at 31March|
|||General|Desiguated|funds|Expendable|2020|
|Tangible|fixed assets|279,495|1,834,989||560,537|2,675,021|
|Fixed asset investments||1,161,046|965,219|||2,126,265|
|Current|assets|(309,925)||524,870||214,945|
|Current|liabilities|(465,513)||||(465,513)|
|Total net assets||665,103|2,800,208|524,870|560,537|4,550,718|



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