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2021-03-31-accounts

CEO and Chairman's Statement Statement page 4
Trustees Report page 6
Main Activities page 8
Looking Forward page 13
Structure,
Governance		 and Management page 14
Financial
Review		 page 16
Statement ofTrustees' Responsibilities page 19
Independent
Advisors'		 Report to the page 20
Members ofQueen Elizabeth's Foundation for
Disabled People
Group Balance Sheet page 25
Consolidated
Statement		 of Financial Activities page 26
Group Cash Flow Statement page 27
Notes to the Financial Statements page 28

In common
with
all
providers
risks.
These include:		 of health
an		 d
care services,
QEF faces a number		 of
Risk Miti
ation
Impact ofa COVID-19 outbreak in services Established
controls mechanisms
would		 limit
impact and prevent a cross service outbreak
Poor quality of care or risk to safety Ensure staff compliance
with training
and
induction.
Have well embedded
operational
processes,
up-to-date
policies and
procedures.
Involve service users
in
monitoring
and actively seek feedback from
people who use our services. Clear and
horough
reporting
to Care Quality and
Safety committee
and visibility ofsenior
managers
and trustees
in services. Ensure
Health and Safety compliance
across all
ervices and regulatory
compliance
in
regulated
services.
orkforce — difficulties recruiting Bethe place to work: continued
recruitment
and retaining a skilled workforce process reviews, contract reviews,
pay and
and associated
impact		 on care reward
reviews,
flexible working,
staff
engagement,
career development
and
ning opportunities.
Management ofthe F25m long term debt he PPF Agreement
provides
for regular
othe PPF, which replaced the defined performance
reports and update meetings
benefit pension
deficit.		 as required.
Failure toachieve financial balance Five year financial
plan including
service
impacting
on		 viability restructuring.
Overseen
by Business
Planning
and Development
Sub-Committee

COMPANY REGISTRA TION NO. 008 92013
GROUP QEF
2021 2020 2021 2020
Note EOOO's OOOO's EOOO's EOOO's
FIXED ASSETS
Tangible
Fixed Assets		 24,047 28,702 23,237 27,824
Intangible
Fixed Assets
Investments		 (98) (123) 1 030 1 030
23,949 28,579 24,267 28,854
CURRENT ASSETS
Stocks 80 111
Debtors 1,246 1,540 1,462 1,659
Investments 24 21 20 17
Cash at bank and
in hand		 1 377 690 948 296
2.727 2,362 2,430 1,972
CURRENT UABILITIES
Creditors - amounts
within one year		 falling due 7 ~2643 ~2605 ~3154 ~3060
NET CURRENT ASSETS 84 ~243 ~724 ~1088
TOTAL ASSETS LESS
CURRENT UABILmES 24 033 28 336 23 543 27 766
Creditors - amounts falling due
after more than one year 21 (14,272) (18,889) (14,239) (18,852)
NET ASSETS including
scheme
liability		 pension 9 761 9447 9 3D4 8 914
ACCUMULATED
FUNDS
Restricted
Funds		 9 668 800 316 800
Unrestricted
Funds		 10 9 093 8 647 8 988 8 114
Total Accumulated
Funds		 11 9 761 9 447 9 304 8 914

CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES		 CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES		 CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES		 CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES		 CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES
INCORPORATING
THE INCOME AND EXPENDITURE ACCOUNT		 AND STATEMENT OF RECOGNISED GAINS AND LOSSES
FOR THE YEAR EAJDED 31 MARCH 202I
2021 2021 2021 2020 2020 2020
Notes Unrestricted
f000's		 Restricted
f000's		 TOTAL
f000's		 Unrestricted
f000's		 Restricted
f000's		 TOTAL
f000's
INCOME
Donations 1,111 329 1,440 881 816 1,697
Legacies 662 662 436 436
Commercial
Trading
Operations
Fundraising
Events		 2,403
85		 24 2,403
109		 1,463
146		 72 1,463
217
Income from property 29 29 28 28
Investment
Income		 4 4 2 2
Bank interest
receivable		 1 1
Other 32 32
4,327 353 4,680 2,956 888 3,844
Incoming resources from charitable activities:
Neuro-Rehabilitation
Services		 3,005 3,005 2,395 2,395
Independent
Living Sewices		 3,303 271 3,574 3,342 3,342
Mobility Services 188 638 826 213 524 737
Accessible Aviatio n 15 15 2 2
Voluntary
Assoc. Surrey
Disabled		 4 54 54 59 59
Medical Engineering
Resource		 Unit 4 267 267 265 265
Sutto n Shopmo bility 4 11 11
QEF Devebpments
Other 3
6,832 909 7,741 6,290 524 6,814
TOTAL OPERATING
INCOME		 11,159 1,262 12,421 9,246 1,412 10,658
EXPENDITURE
Raising funds:
Fundraising
and publicity costs		 952 9 961 1,208 72 1,280
Commercial
Trading Operatbns		 2 267 2 267 1444 1 444
Total costs of raising
funds		 3,219 9 3,228 2,652 72 2,724
Charitable
activities:
Neuro-Rehabilitation
Services		 2,760 403 3,163 1,142 1,507 2,649
Independent
Living Services		 3,714 283 3,997 3,988 30 4,018
Mobility Services 149 639 788 288 532 820
Accessible Aviation 57 57 34 40 74
Voluntary
Assoc. Surrey Disabled		 55 55 105 8 113
Medical Engineering
Resource		 Unit 499 59 558 340 206 546
Sutton Shopmobility 32 32
QEF Devebpments 2 2
Other 4 7
Total charitable
expenditure		 7,236 1,384 8,620 5,935 2,326 8,261
TOTAL OPERATING
EXPENDITURE		 14 10,455 1,393 11,848 8,587 2,398 10,985
NET OPERATING (EXPENDITURE)/
INCOME BEFORE EXCEPTIONAL ITEMS 704 (131) 573 659 (986) (327)
Exceptional items:
Profit on sale of land and buikfings
Revaluation
of hnd and buildings		 1,025
2,578		 1,025
2,578
NET (EXPENDITURE)/INCOME 24 704 (131 573 4,262 (986) 3,276
Other recognised
gains and		 losses
Change
in discounting
of long term
loan		 (259) — (259) 642 642
Net Movement
in Funds		 445 (131) 314 4,904 (986) 3,918
Fund balances
brought
forward
Fund balances
carried forward		 at 1 April 2020
at 31 March 2021		 8,648
9,093		 799
668		 9,447
9,761		 3,744
8,648		 1,785
799		 5,529
9,447
The Statement
of Finandal		 Activities indudes all gains and losses recognised
in the year.
All incoming
resources and resources		 expended derive from continuing activities.
A reconciliation
ofthe Net Movement		 in Funds to the in-year operational performance
is shown		 in Note 26.

2021 2020
E.'000 E.'000
Cash flows from operating activities:
Net cash used
in operating
activities		 (4,431) 3,147
Income taxes paid 2
4 431 3 145
Cash flows from investing activities:
Investment
income and interest
received
Proceeds from disposal offixed asset investments
excluding
endowment
funds
Proceeds from disposal oftangible
fixed		 assets (4)
4,926		 1,552
2,915
Intangible
fixed asset		 123
Payments
to acquire tangible		 fixed assets (554) (8,399)
Net cash provided
by investing
activities		 4 369 3807
Financing activities:
Proceeds of new bank loans 750
750
Net increase
in cash and cash equivalents		 687 (662)
Cash and cash equivalents
at		 beginning ofyear 690 1,352
Cash and cash equivalents at end of year 1 377 690
Reconciliation
ofnet (expenditure)/		 income to net cash flow from operating activities
Net income including
endowments		 314 3,918
Depreciatio n charges 290 261
Goodwill amortisation (25)
Taxation charged
Net gains on investments
Movement
in long term debt		 from PPF (5,367) (642)
Movement
in defined
benefit		 pension scheme provision (6) (9)
Revaluation
of land and biuldings		 (2,578)
Gain on disposal of fixed assets (1,025)
Investment
income		 (1) (2)
Increase
in stock
(Increase)/decrease
in debtors		 32
294		 (1)
2,312
Increase
in creditors		 38 914
Net cash used
in operating		 activities 4 431 3 147

Freehold Freehold
Land lk Leasehold
GROUP BuiMings
E'000's		 Property
E'000's		 Equipment
E'000's		 Motor Vehkles
E'000's		 Total
F.'000's
Cost at 1.4.20 27,789 64 3,361 266 31,480
Additio ns 256 295 3 554
Disposals 4,897 64 242 11 5,214
Revaluation
gain
Cost at 31.3.21 23,148 3,414 258 26,820
Depreciation
at 1.4.20		 64 2,471 244 2,778
Revaluation
adjustment
Charge for year 280 10 290
On disposals 64 221 11 296
Depreciation
at 31.3.21		 2,530 243 2,772
NET BOOK VALUE
NET BOOK VALUE		 at
at		 31.3.21
31.3.20		 23,148
27,789		 884
891		 15
22		 24,047
28,702
Freehold
Land
BL		 Leasehold
QEF BuBdings
E'000's		 Property
E'000's		 Equipment
E'000's		 Motor Vehkles
E'000's		 Total
E'000's
Cost at 1.4.20 27,235 2,453 226 29,914
Additio ns 259 224 3 486
Disposals 4,897 150 11 5,058
Cost at 31.3.21 22,597 2,527 218 25,342
Depreciation
at 1.4.20		 1,864 226 2,090
Charge for year 175 1 176
On disposals 150 11 161
Depreciation
at 31.3.21		 1,889 216 2,105
NET BOOK VALUE at 31.3.21 22,597 638 23 237
NET BOOK VALUE at 31.3.20 27,235 589 27,824
The charity has applied the existing use valuation method and used a previous valuation as the deemed cost for its
freehold
property.		 The properties values were reviewed as at 31 March 2020 using recent valuations, provided by Hurst
Warne and Christies who are both property consultants.
INTANGIBLE FIXED ASSETS
GROUP Goodwill Total
E'000's E'000's
Cost at 1.4.20 (123) (123)
Additions 0
Cost at 31.3.21 (123) (123)
Amortisation
at 1.4.20
Charge for year
Amortisatlon
at 31.3.21		 25
25		 25
25
NET BOOK VALUE
NET BOOK VALUE		 at
at		 31.3.21
31.3.20		 (98)
(123)		 (98)
(123)
EF Goodwill Total
E'000's E'000's

GROUP
2021
f'000's		 2020
f'000's
Listed Shares 23 20
Deposits 1 1
24 21
QEF
2020
f'000's		 2020
f'000's
Listed Shares 19 16
Deposits 1 1
20 17

2021 2021 2020
E'000's E'000's
VASD equipment hire and sales 1 25
Income from property 15 33
Grant Income 32
Gifts &donations 7
55 66
Cost ofsales 6
55 60
Cost of charitable activities (53) (104)
Fundraising
and publicity costs		 0
Governance
costs		 2
Surplus
on ordinary		 activities 46
The assets and liabilities ofthe company at the end ofthe year, including intra-group amounts, were as follows:
2021 2020
f.'000's E'000's E'000's E'000's
Fixed Assets 339 340
Current assets
Current
liabilities
Net Current assets
Pension Scheme
Liability
619
~10		 609
~31		 621
13		 608
37
917 911

2021 2020
E'000's E'000's
MERU equipment sales 267 265
Grants 92
Gifts &donations 143 336
502 601
Cost ofsales 114 108
388 494
Cost of charitable activities (414) (436)
Fundraising
and publicity costs		 (35) (83)
Governance
costs		 2 2
Surplus/(Deficit) on ordinary activities 34 63 28

The assets and liabilities ofthe
follows:		 company
at the end ofthe y		 ear, including
intra-group		 amounts,
were as
E'000's 2021
E'000's		 f'000's 2020
E'000's
Fixed Assets 196 268
Current assets
Current
liabilities		 273
~444		 192
443
Net Current assets (171) 251
25 17

2021 2020
f.'000's E'000's
Incoming
resources
from charitable
Sale 5.Hire of Disability
Equipment
Gifts 5donations		 activities 11
10
21
Cost ofsales 1
20
Cost ofcharitable activities 22
Surplus/(Deficit) on ordina ry activities
were as follows:
2021 2020
E'000's E'000's E'000's f.'000's
Fixed Assets 0 0
Current assets 0
Current liabilities 70
Net Current assets 70
70

GROUP QEF
2021 2020 2021 2020
f.'000's f.'000's f.'000's f.'000's
Raw materials and finished goods 80 111

FOR THE YEAR ENDED 31 MARCH 20 21
DEBTORS GROUP QEF
2021 2020 2021 2020
Amounts falling due within one year E'000's E'000's E'000's I'000's
Trade Debtors 879 1,058 816 928
Amount due from subsidiary
company		 0 437 509
Taxation S.Social Security receivable 5 96
Other Debtors 44 51 9 20
Prepayments 265 203 166 122
Accrued Income 52 132 33 80
1 246 1 540 1 462 1659
The amounts
due from the subsidiary		 company are unsecured, interest free and payable on demand.
With the exception of prepayments, all debtors are financial instruments and are measured at present value.
CREDITORS
GROUP QEF
Amounts
falling due within
one year		 2021
E'000's		 2020
E'000's		 2021
E'000's		 2020
E'000's
Trade Creditors 619 1,285 544 695
Taxation and Social Security
payable		 459 306 433 283
Amount due to subsidiary
company		 835 821
Other Creditors 913 226 766 96
Accruals 545 631 511 1,071
Deferred income (see note 8) 107 157 65 93
2 643 2 605 3 154 3060

DEFERRED INCOME - Group and QEF
Balance at 1 Incoming Amount Balance at 31
2021 April2020
E'000's		 Resources
E'000's		 Released
I'000's		 March 2021
E'000's
Fundraising
events income		 47 34 (47) 34
Independent
Living Services		 31 5 (31) 5
Mobility Services 10 26 (10) 26
Central Services
The Grange		 5
53		 38 (5)
(53)		 38
VASD Holiday Income 14 3 14 3
160 106 160 106
2020 Balance at 1
April 2019
E'000's		 Incoming
Resources
f'000's		 Amount
Released
E'000's		 Balance at 31
March 2020
E'000's
Fundraising
events income
Independent
Living Services		 .43
50		 47
31		 (43)
(50)		 47
31
Mobility Services 13 10 (13) 10
Central Services 5 5 (5) 5
Canal Boat 3 (3)
The Grange 53 53
VASD Holiday Income 19 14 19 14
133 160 133 160

Movement Movement in Funds
Balance at 1 Incoming Expenditure Balance at 31
April 2020 Resources Gains and March 2021
2021 f'000's f'000's Losses
E'000's		 K'000's
Neuro- Reha bilitatio n Services 94 (94)
CRC 179 234 (311) 102
Independent
Living Services		 67 303 (284) 86
Mobility Services 126 639 (639) 126
Accesible Aviation
Central Services
Voluntary Assoc. Surrey Disabled 330 5 (5) 330
Medical Engineering Resource Unit 88 (68) 24
Sutton Shopmobility
800 1 269 1401 668
revenue
projects th		 at ha ve m ostly be en spent
in the year.
Movement in Funds
Balance at 1 Incoming Expenditure Balance at 31
April 2019 Resources Gains and March 2020
2020 Losses
E'000's E'000's E'000's F'000's
Neuro-Rehabilitation Services 131 52 (89) 94
CRC 1,099 498 (1,418) 179
Independent
Living		 Services 95 2 (30) 67
Mobility Services 126 532 (532) 126
Accesible Aviatio n 40 (40) 0
Canal Boat 0
Central Services
Voluntary
Assoc. Surrey		 Disabled 3
330		 8 (3)
(8)		 0
330
Medical Engineering Resource Unit 2 280 (278) 4
Sutton Shopmobility
1786 1412 2 398 800
NOTES TO THE FINANCIAL FINANCIAL STATEMENTS (Contd) STATEMENTS (Contd) STATEMENTS (Contd) STATEMENTS (Contd)
FOR THE YEAR ENDED 32 MARCH 2021
10 GENERAL UNRESTRICTED FUNDS
GROUP QEF
2021
f'000's		 2020
f'000's		 2021
f'000's		 2020
f'000's
Balance brought forward 8,647 3,743 8,114 3,308
Net movement of resources in the year 446 4 904 996 4 806
Balance carried forward 9093 8 647 9 110 8 114
ANALYSIS OF GROUP ASSETS BETWEEN FUNDS
Fixed Net Current Creditors Total Funds Pensions Total 2021
Assets Assets falling due Deficit
after more
2021 f'000's F'000's than 1year
f'000's		 f'000's f'000's F'000's
Restricted funds 330 338 668 668
Unrestricted funds 23 619 257 14239 9 124 31 9093
23 949 81 14239 9 792 31 9761
Tangible Net Current Creditors Total Funds ex Pensions Total 2020
Fixed Assets falling due Pensions Deficit
Assets after more Deficit
2020 f'000's f'000's than 1year
F.'000's		 F'000's f'000's f'000's
Restricted funds 330 470 800 800
Unrestricted funds 28 249 713 18853 8 684 37 8 647
28 579 243 18853 9484 37 9447
12 RECONCILIATION
OF MOVEMENT		 IN FUNDS
GROUP EF
2021
f'000's		 2020
f'000's		 2021
f'000's		 2020
f'000's
Opening funds 9,447 5,529 8,914 4,762
Net movements ofresources in the year 314 3918 512 4 152
Closing funds 9761 9447 9426 8914
13 GOVERNMENT
GRANTS

Staff Staff Costs Costs Property Depn. Other TOTAL 2021
2021 f'000's Costs
f'000's		 f'000's f'000's f'000's
Charitable
Activities		 5,071 217 53 635 5,976
Fundraising 510 165 675
Trading 513 430 6 72 1,021
VASD 25 11 2 2 40
MERU 283 63 92 124 562
SSM
Grange 798 287 14 73 1 172
DevCo
Support Costs 1,104 427 123 707 2,361
Governance 41 41
TOTAL 8 304 1 435 290 1819 11847
Resources expended in the year include the following: 2021
f'000's
Staff costs 8,304
Auditors
Remuneration:
- Fees payabie for the external audit 41
Movement in provision
—Fees payable for the internal audit
Professiona I liability insura nce
(which
includes Trustees'
indemnity
Depreciation
of fixed assets		 insurance) 290
Operating
leases - hire of		 other assets
Staff Costs Property Depn. Other TOTAL 2020
2020 f'000's Costs
f'000's		 f'000's f'000's f'000's
Charitable
Activities		 4,814 619 46 574 6,053
Fundraising 474 451 925
Trading 628 471 7 141 1,247
VASD 41 17 4 20 82
MERU 284 64 92 188 628
SSM 16 1 1 4 23
Grange 55 16 1 8 80
DevCo
Support Costs 1,143 (23) 679 1,910
Governance 38 38
TOTAL 7 456 1 165 261 2 103 10985
Resources expended in the year include the following: 2020
f'000's
Staff costs 7,456
Audito rs Remune ratio n:
—Fees payable for the external audit 38
Movement in provision
—Fees payable for the internal audit
Professional liability
insurance
(which
includes Trustees'		 indemnity insurance)
Depreciation of fixed assets 261
15 ALLOCATION OF SUPPORT OF SUPPORT COSTS AND PENSIONS COSTS AND PENSIONS COSTS AND PENSIONS AD3USTMENT
Direct Costs Shared Pensions TOTAL 2021
2021 f'000's f'000's Services
f'000's		 f'000's f'000's
Care S. Rehabilitation 2,444 127 494 98 3,163
Independent Living 3,167 147 570 113 3,997
Assisted Aviation 45 2 8 2 57
Mobility Services 589 36 134 27 786
Other
Fundra ising 675 45 173 34 927
Trading 1,021 13 58 1,092
VASD 39 3 13 55
MERU 561 5 27 593
SSM
Grange 1,173 1,176
QEF Developments 2
9 714 378 1482 274 11848
Direct Costs Shared Pensions TOTAL 2020
2020 f'000's f'000's Services
f'000's		 f'000's f'000's
Care S. Rehabilitation 1,830 103 658 58 2,649
Independent Living 2,807 136 999 76 4,018
Assisted Aviatio n 74 74
Mobility Services 630 30 143 17 820
Other 7 7
Fundraising 925 44 203 25 1,196
Trading 1,247 25 88 1,361
VASD 82 5 26 113
MERU 628 2 630
SSM 23 7 32
Grange 80 3 83
QEF Developments 2 2
8 336 343 2 131 175 10985

The average number of persons employed by QEF during the year was: by QEF during the year was:
Full time Full time Part time Part time
2021 2020 2021 2020
Care 5.Rehabilitation 26 24 20 29
Independent Living Services 50 43 15 12
Mobility Services 7 7 14 11
Accesible Aviation 1 1
Central Services 21 24 3
Fundraising 8i Publicity 14 10 2
QEF 118 109 55 62
Commerical Trading Operations 13 16 23 28
VASD 1 2
MERU 6 3 4
SSM 1 1
Grange 17 17 15 17
GROUP 153 149 97 114
GROUP QEF
Staff costs: 2021
f'000's		 2020
f'000's		 2021
f'000's		 2020
f'000's
Salaries and wages 6,131 5,547 4,762 4,633
Agency 1,423 1,192 1,306 1,189
Social Security costs 511 480 432 424
Defined benefit pension scheme costs 8 7
Other pension scheme costs 5 8 5 8
Defined contribution pension costs 207 206 166 166
Health scheme 19 15 14 11
8 304 7 455 6 685 6 431


the QEF shops as well as		 at our centres.
The number ofemployees earning E60,000 p.a.or more was: 2021 2020
E60,000 - E69,999 3 3
E70,000 - E79,999 2 1
E100,000 - E109,999 1
E120,000 - E129,999

During the year Queen
El
subsidiaries
as follows:		 izabe th
Fou		 ndation
f		 or Disabled
People		 charged
management
fee		 s to its
2021 2020
The Voluntary
Association
for Surrey
Disabled
The Sutton Shopmobility
Charity
Company
Medical Engineering
Resource
Unit		 Ltd 16,056
31,136		 ff
f		 30,995
8,500
2,280
QEF Trading
Ltd		 70,952 115,276
Included
within creditors at year end for Queen
balances
with subsidiaries:		 Elizabeth Foundation for disable d
people ar		 e the following
2021 2020
QEF Trading
Ltd
QEF Developments
Limited
The Voluntary
Association
for Surrey
Disabled		 Ltd 140,315
9,466
572,491		 f
f
f		 224,063
596,605
Included
within debtors at year end for Queen		 Elizabeth Foundation for disabled people are the following
balances
with subsidiaries:
2021 2020
Medical Engineering
Resource
Unit
QEF Developments
Limited
The Sutton Shopmobility
Charity
Company
The Grange (2016) Ltd		 349,512
69,843
8,488		 ff
f
f		 347,202
91,616
69,843
During the Year, The Grange (2016) Ltd gave QEF an intercompany loan off122,558.

26 RECO NCILIATION
OF NET MOVEMENT IN		 FUNDS
2021
f'000's		 2020
E'000's
QEF Incoming Resources 12,421 10,657
QEF Resources Expended 11848 10985
QEF Operating (Deficit)/ Surplus 573 (327)
Other movements
in Funds		 (259) 4,245
Net Movement in Funds on SOFA 314 3918