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|Page:|||
|---|---|---|
||Trustees'
report||
||Independent
Auditors'|Repoit|
|10|Statement offinancial|activities|
||Balance sheet||
|12|Statement ofcash flows||
|13-21|Notes to the financial|statements|
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|Investment|Advisors||||
|---|---|---|---|---|
|||Tilney Limited|||
|||Royal Liver Building|||
|||Pier Head|||
|||Liverpool L3 1NY|||
|Auditors|||||
|||Champion|Accountants|LLP|
|||Registered|Auditors||
|||7-9Station|Road||
|||Hesketh Bank|||
|||Preston|||
|||PR4 6SN|||
|Insurance|Brokers||||
|||Premier Business Care||Insurance|
|||Lancashire|Business Park||
|||4 Mannin|Way||
|||Lancaster|||
|||LAI 3SW|||
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|Trustee|Sister Gemma Maria Hughes|
|---|---|
|Trustee|Sister Marie Laura Hughes|
|Tmstee|Mr James Dillon (deceased 12December 2020)|
|Tmstee|Mrs Donna Marie Edgley (resigned 9December 2021)|
|Trustee|Mr George Albert Edgley (resigned 9December 2021)|
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|For and on|behalf of|||
|---|---|---|---|
|Champion|Accountants|LLP||
|Chartered|Accountants|8c Statutory|Auditors|
|7-9 Station|Road|||
|Hesketh Bank||||
|Preston||||
|PR4 6SN||||
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||||||Unrestricted|funds|
|---|---|---|---|---|---|---|
|||||Note|2021|2020|
|Income and endowments|from:||||||
|Donations
and legacies
Investments|||||67,727
65,526|21,660
103,141|
|Charitable
activities|||||899,359|835,100|
|Total income and endowments|||||1,032,613|959,901|
|Expenditure
on:
Investment
management|costs||||16,685|16,844|
|Charitable
activities|||||1,124,833|1,065,890|
|Other|||||54,872|37,321|
|Total expenditure|||||1,196,390|1,120,055|
|Net expenditure
before|movement||on investments||(163,797)|(160,154)|
|Net gain / (loss) on investments|||||550,332|(397,860)|
|Net expenditure
and movement||in|funds||386,555|(558,014)|
|Reconciliation offunds:|||||||
|Balances brought
forward at|||||||
|1 April 2021|||||3,954,091|4,512,105|
|Balances carried forward|at||||||
|31March 2022|||||4,340,646|3,954,091|
||||Note|2021|2020|
|---|---|---|---|---|---|
|Fixed assets||||||
|Tangible assets
Investments||||1,211,778
2,591,115|1,098,540
2,239,080|
|||||3,802,893|3,337,620|
|Curreut
assets||||||
|Debtors||||93,664|121,085|
|Cash at bank and in hand||||528,774|587,216|
|||||622,438|708,301|
|Creditors:
amounts|falling due|||||
|within one year||||(84,685)|(91,830)|
|Net current assets||||537,753|616,471|
|Total net assets||||4,340,646|3,954,091|
|The funds ofthe charity||||||
|Unrestricted
funds:||||||
|General fund||||1,992,485|2,975,528|
|Investment
revaluation||fund||666,497|76,899|
|Property revaluation|fund|||881,664|901,664|
|Committed
build costs||||500,000||
|Future care fund||||300,000||
|Total charity funds|||10|4,340,646|3,954,091|
||||Note|2021|2020|
|---|---|---|---|---|---|
|Cash flows from operating
Net cash used in operating|activities:
activities|||(142,115)|157,921|
|Cash flows from investing|activities:|||||
|Dividends
and interest trom investments||||47,943|82,135|
|Purchase oftangible fixed assets||||(162,705)|(869)|
|Proceeds fi'om the disposal|ofinvestments|||734,214|671,022|
|Purchase ofinvestments||||(414,259)|(679,822)|
|||||205,103|72,466|
|Change in cash and cash|equivalents|in the year||63,078|230,387|
|Cash and cash equivalenb|at 1April|2020|B|583,400|353,013|
|Cash and cash equivalents|at31March 2021||B|646,478|583,400|
|Notes to the statement of|cash flows|for the year|to31March 2021|||
|A —Reconciliation
ofnet|movement|in funds to|net cash flow used in operating||activities|
|||||2021|2020|
|Net movement
in funds||||386,555|(558,014)|
|Adjustments
for:||||||
|Depreciation
charge||||49,467|49,733|
|Gains on investments||||(550,332)|397,860|
|Gains on revaluation
offixed assets||||||
|Dividends
and interest from investments||||(47,943)|(82,135)|
|(Increase)
/ decrease in debtors||||27,421|471,055|
|Increase
/ (decrease) in creditors||||(7,283)|(120,578)|
|Net cash used in operating
activities||||(142,115)|157,921|
|B—Analysis ofcash and|cash equivalents|||||
|||||2021|2020|
|Cash at bank and in hand||||528,774|587,216|
|Cash held by investment
managers||||117,704|(3,816)|
|Total cash and cash equivalents||||646,478|583,400|
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|2|Investment|income||||
|---|---|---|---|---|---|
|||||2021|2020|
||Income|fiom quoted investments||47,824|81,337|
||Interest|receivable||119|798|
||Rents receivable|||17,583|21,006|
|||||65,526|103,141|
|3|Charitable|activities||||
|||||2021|2020|
||Nursing|home fees||761,658|801,383|
||Other charitable
activities|||137,701|33,717|
|||||899,359|835,100|
|4|Investment|inauagement|costs|||
|||||2021|2020|
|||||f.||
||Investment
managers'||fees|16,685|16,844|
|||||16,685|16,844|
|||Cost of charitable|Other|Cost of charitable|Other|
|---|---|---|---|---|---|
|||activities|resources|activities|resources|
|||2021|2021|2020|2020|
|Staffcosts||884,110||776,730||
|Propeity costs||113,425||124,851||
|Care home|expenses|102,048||117,607||
|Donations|made|450||15,000||
|Insurance||24,800||29,220||
|Community|expenses|||2,482||
|Legal and|professional||32,552||16,231|
|Audit and|accountancy||22,320||21,090|
|||1,124,833|54,872|1,065,890|37,321|
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|Total expenditure
(Continued)|||
|---|---|---|
|Fees payable to auditor include the following:|2021|2020|
||f,||
|Audit fees
Other services|4,800
17,520|5,160
15,930|
||22,320|21,090|
|Staff costs include the following:|2021|2020|
|Wages and salaries
Social security costs
Pensions
Tmlillilg
Agency Staff|570,080
35,436
8,281
8,433
261,878|509,745
29,648
6,275
2,048
229,014|
||884,107|776,730|
|average|number|ofemployees
(full time equivalen|t),
analysed
by function was as f|ollows:|
|---|---|---|---|---|
||||2021|2020|
||||No.|No.|
|Provision|ofcare|services|38|40|
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|he additions wit
be depreciated|hin
land and buildings
relate to prop
until complete.|eity
in the course of construction|which w|
|---|---|---|---|
|||2021|2020|
|Cost at 1April
Additions|2020|18,336
160,168|18,336|
|Cost at 31March 2021||178,504|18,336|
|7|Investments||||2021|2020|
|---|---|---|---|---|---|---|
||Quoted investments:||||||
||Market value at||1 April 2020 (excluding cash balances)||2,242,896|2,631,956|
||Additions||||414,259|679,822|
||Disposals||||(734,076)|(671,022)|
||Other recognised gains:||||||
||Um'ealised|gains||/ (losses) on valuation|489,141|(337,727)|
||Realised gains / (losses) on sales||||61,191|(60,133)|
||||||2,473,411|2,242,896|
||Cash balances|at 31||March 2021|117,704|(3,816)|
||Market value|at|31March 2021||2,591,115|2,239,080|
|The|historic cost ofinvestments|||is as follows:-|2021|2020|
||As at 1 April 2020||||2,162,181|2,268,846|
||As at 31March 2021||||1,924,617|2,162,181|
|8|Debtors||||||
||||||2021|2020|
||Trade debtors||||18,112|58,865|
||Other debtors||||35,769|33,609|
||P repayments||||39,783|28,611|
||||||93,664|121,085|
|9|Creditors: Amounts||falling due within one year||2021|2020|
||Trade creditors||||29,949|27,041|
||Other taxes and|social||security costs|8,987|8,081|
||Accruals and deferred|||income|43,890|55,040|
||Other creditors||||1,859|1,731|
||||||84,685|91,830|
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|alysis ofas|sets betw|ee|n
funds||||||
|---|---|---|---|---|---|---|---|---|
|||||Committed|Tangible||Net||
|||||Build / Future|Fixed||Current||
|||||Care fund|Assets|Investments|Assets|Total|
|General fund||||(950,000)|330,114|1,924,618|537,753|1,842,485|
|Investment|revaluation||fund|||666,497||666,497|
|Property revaluation||fund|||881,664|||881,664|
|Committed|build fund|||650,000||||650,000|
|Future care|fund|||300,000||||300,000|
|||||1,211,778||2,591,115|537,753|4,340,646|
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|Defined contribution|plans||||
|---|---|---|---|---|
||||2021|2020|
||||No.|No.|
|Charge in respect|of defined contribution|schemes|8,281|6,275|
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