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2021-03-31-accounts

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:36 GMT (UTC +0) D 1/1 P 1/40

Registered number: 00989820 Charity number: 261726

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:36 GMT (UTC +0) D 1/1 P 2/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Governors and Advisers 1
Chairman's Statement 2 - 4
Governors' Report 5 - 13
Independent Auditor's Report on the Financial Statements 14 - 17
Statement of Financial Activities 18
Balance Sheet 19
Statement of Cash Flows 20
Notes to the Financial Statements 21 - 36

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:37 GMT (UTC +0) D 1/1 P 3/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Governors

Mr S R Barstow, Chairman Mrs A Cullimore-Todd

Mr L D Jones OBE FCCA Miss R Keeling Mrs S Robinson Mr C Trickey Mrs S Vandersteen

Governors, who are also Trustees, are appointed by the existing Governors and confirmed at the Annual General Meeting. They serve for a term of three years, when they may submit themselves for re-election. The Chairman is elected by the Governors and may serve as Chairman for no more than two consecutive terms.

Company registered number

00989820

Charity registered number

261726

Registered office

Purley Park Trust, 12 Huckleberry Close, Purley-on-Thames, Reading, Berkshire, RG8 8EH

Company secretary

Mr L C Grady

Senior management team

Larry Grady, Chief Executive Officer Karen Taylor, Head of Finance & Resources Debbie Mackay, Training and Development Manager

Independent auditor

James Cowper Kreston, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS

Bankers

National Westminster Bank Plc, 74 School Road, Tilehurst, Reading, Berkshire, RG31 5ST

Solicitors

Field Seymour Parkes, 1 London Street, Reading, Berkshire, RG1 4QW

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Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:38 GMT (UTC +0) D 1/1 P 4/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

The chairman presents his statement for the year.

This has been, without doubt, an exceptional year. This is probably not the appropriate place to try and summarise the challenges faced by everyone in the past twelve months but I feel I must begin this report by noting the immense pride I have in the way that my fellow Trustees and the officers and staff of the Trust faced and responded to those challenges.

There will be much to learn of course and an appreciative review of what went well and what we might have done differently is underway. However, I am pleased to say that the resilience that the Trust has shown over the last year emphasises the benefits gained through a number of our longer term aims, the first two of which are taken directly from our Business Continuity Plan:

More than anything though, I think that the exhaustive work we have done to promote excellent working culture, trust and a shared set of values has been fully vindicated in the way that everybody responded over the last year. It is very difficult to be confident in such a rapidly changing situation where the risks are so uncertain. What we have managed to create is a culture in which we have confidence in each other; to do our jobs well, to support each other, to be honest with each other, to celebrate successes together and acknowledge when we could have done better.

It would be wrong to single out any person or group of people for special praise. However, I must acknowledge the particular burden carried by our service Managers throughout the Coronavirus pandemic. On a day to day basis they have had to manage and support the fears and uncertainties of colleagues, people we support, families and other stakeholders while making sure things run and people are safe. They have also done an excellent job of balancing the varied and complex dilemmas relating to personal and collective safety and the rights of the people we support to do what they want.

I appreciate that people reading this report might be expecting more attention to the facts and figures of the financial year, so I will move on to those.

I am pleased that in this financial year, despite all of the challenges, we have continued to grow our services in a sustainable manner and extend our reputation for providing services of very high quality. We have been able to continue our considerable investment in improving and maintaining the quality of our established services.

The demand for our services is very high and reflects our sound reputation with commissioning authorities and popularity with people that use our services and their families.

Almost all of our referrals are still generated through word of mouth recommendations and this approach matches our vision and values; the people we support continue to be our main priority and focus, which must be reflected in how we prioritise our resources and investments. Our core focus should be on providing excellent support for them and if we get this right, there is little need to invest in marketing and advertising. We think this is an ethical way to proceed and it also promotes a culture of efficiency (in terms of directing our resources towards things that directly relate to the people we support and avoiding unnecessary expense that is not related to this core objective).

Our reputation for providing services of a very high quality is also supported by the approach of our regulators throughout the year. Our approach to regulation demonstrates the necessity of meeting all compliance requirements. Once this is established, we aim to focus on what is right for each of the people we support; while we welcome feedback from any source we aim to focus more on the people we support than chasing ratings, awards and plaudits.

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

We have continued to receive referrals for Care Homes Services, Supported Living services, Domiciliary Care and Day Services at a steady rate and we anticipate that this trend will continue. We will continue to develop new services in the forthcoming year in line with our commitment to enable people with local connections to get the support they need within the community that they are part of and also offer support to other people who have not been able to get the support they need elsewhere. In particular and following a review of our response to the Coronavirus pandemic we are fundamentally redesigning our day service offering over the next two years.

Many of the adverse factors that have been reported in recent years seem likely to present significantly harder challenges as the country emerges from the pandemic and Brexit:

I must emphasise the vital importance of a skilled and motivated workforce and healthy organisational culture to the success of our charity. Our staff and Managers are the most important factor in determining the quality of the services we provide and we work hard to develop a culture and environment in which they feel valued and are empowered to use their skills and initiative.

Our objectives for the coming year reflect the themes over recent years and include:

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

We have always sought to attract and retain the best staff through paying competitive salaries and by ensuring that the Trust is a great place to work. In the coming year we will be ‘benchmarking’ salaries at all levels of the organisation to ensure that they are within the top ten per cent of salaries in our area for comparable roles. In view of how low salaries are in social care when compared with other forms of employment, we are aware that in terms of fairness and competitiveness we may also need to benchmark against skilled roles outside social care employment, as well.

The proper governance of the Trust continues to be a high priority for my fellow Governors and I; the Trust is very lucky to have such a committed and skilled group of Trustees and I thank them for their wholehearted support.

Finally, I would like to thank all of the staff at Purley Park Trust, especially this year, for their continued dedication, hard work and the very real difference they make to the lives of the people we support, and I would particularly like to thank my chief executive for his exceptional effort and ability towards ensuring the great success of the service we provide.

Stephen Barstow 17 Nov 2021 16:34:32 GMT (UTC +0)

................................................ Stephen Barstow Chairman

Date: 17 November 2021

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Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:40 GMT (UTC +0) D 1/1 P 7/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Governors (who are also the directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Purley Park Trust Limited (the charity) for the year ended 31 March 2021. The Governors confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019.

Objectives and Activities

Charitable objects

The Governors, as Trustees of the Charity, mindful of the Charity Commission’s guidance on ‘Public Benefit’ are satisfied that the Memorandum fulfils the criteria and that the activities of the Trust are wholly and exclusively for the public benefit. All the beneficiaries of the Trust’s aims and activities are people with a learning disability (in many cases with other forms of disability) who are unable to live independently. How much support people need, and how they wish this to be provided is a very individual matter, but all need help with some or all aspects of their daily lives; empowering and enabling them to lead rewarding and fulfilling lives is fundamental to the Trust’s values.

What we aim to do

Our Vision

We will be known for our integrity, our passion and our commitment to getting things right for each person we support

Our Values

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

How we meet our aims and values

How we measure our success in achieving our aims and objectives

The single most important aspect of measuring how well we are achieving these things is the experience that the people we support (our beneficiaries) of being supported by us; by its very nature this is a subjective judgement but our success is reflected in the personal stories of each person we have the privilege to support.

Our most effective ways of measuring our success depend upon the close and enduring relationships that staff at all levels of the Trust have with the people we support. This is assisted greatly by the limitations we impose on the number of people we support and the tight geographical location of the services we offer.

Recent examples of the level of commitment we will make to try and help people to find an environment that works for them include the purchase of a bungalow and plans to build an annexe for two young men that we support, when their relationships with people they live with had become strained. These investments will help them to carry on living near their families in their local communities.

We also have a comprehensive range of internal quality monitoring tools that help us to assess how well each of our services is meeting the needs and wishes of each of the people we support. In addition to this we facilitate an annual review for each of the people we support to assist them (and people who know and care about them) to tell us how well we are doing and what they want us to change, do better or help them with over the following year.

Because our reputation is so important to us, we also pay great attention to feedback we receive from people we support, their families and all of the other people we come into contact with when doing our work. We welcome complaints (as opportunities to learn and to improve what we do) and compliments (as evidence that we are doing things well).

Reputation is a difficult thing to measure but anecdotal evidence suggests that it is very strong; we receive far more referrals than we are able to manage and the way we receive them is also informative:

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Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:41 GMT (UTC +0) D 1/1 P 9/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

We also welcome the rigorous quality monitoring inspections we receive from external bodies, including:

Review of the past year and what we have achieved

I would refer readers to the Chairman's statement with reference to the exceptional circumstances we have all faced in this financial year.

Our main achievements are reflected within the personal stories of the people we support and their friends and families. In order to support people to make these changes we need to retain a focus on our viability and integrity as an organisation, relating to which the main objectives that we set ourselves last year were:

Demand for our Care Home Services has been high and exceeds our current capacity. We take great care when a vacancy arises to ensure we can meet peoples’ needs really well and this means that there can be some time between vacancies arising and people moving in to their new home.

There remain a number of situations in which peoples’ fees are significantly below the costs of providing them with a service. However, while these people are happy and well supported at Purley Park Trust, it is unlikely that they would be referred to us if they were looking for a service now (due to the level and nature of their needs) and their fee levels probably do meet the level of ‘personal budget’ they might receive. On this basis, pushing these funding authorities for additional funding is very likely to be a counter-productive exercise insofar as the interests of the people we support are concerned.

In past years we have calculated the cost of the support we offer using the Care Funding Calculator, a shared costing tool that enabled us to work transparently with commissioners to demonstrate the true cost of what we do. Over recent years this tool has been much less popular with commissioners so in this year we have developed our own costing models. This is with the aim of ensuring that what we charge is fair, transparent and sustainable in terms of the financial health of the Trust. On this basis, some local authorities have agreed substantial increases in fees ahead of the 2020/21 financial year and we hope for progress with others over coming months.

Our Supported Living Services have continued to be highly successful, which has led to increased demand from local authorities seeking similar services of good value and high quality. We are very proud of the fact that they have enabled people with complex needs to live within their communities instead of in expensive ‘specialist’ services away from their homes and families.

In January we took part in a tender exercise with Reading Borough Council, who have set up a ‘framework agreement’ for supported living services in this area. Although we do not intend to compete for additional contracts it was gratifying to be accepted into the agreement as a “Gold Standard” provider.

Although the adoption of Mill Lane Lodge was not among our immediate objectives, it was an opportunity that arose because of the work we have put in to developing the success and reputation of our services and our commitment to working with anyone locally that is interested in progressing the positive interests of people with learning disabilities.

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Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:42 GMT (UTC +0) D 1/1 P 10/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The project also reflects our flexibility and ability to respond to unexpected opportunities and challenges, within a well-defined long term strategy that assist us to make sure that short to medium term objectives remain aligned with our longer term vision.

Our Day Services provision has undergone a review in terms of what we offer and how this is organised, which has been very successful in terms of the quality of the service and in managing our costs. In the coming year we will need to review this again to ensure that we make the most of the opportunities at Mill Lane Lodge.

We have not actively marketed our Domiciliary Care service and have declined opportunities to ‘tender’ for this type of provision. While we think there will be some demand for this type of support, the majority of contracts being offered by commissioners are for high volume/ short visit types of provision that do not match our strengths or our charitable objects. It would also be against the vision and values of the Trust to work in the way that some of the local authority commissioning arrangements are starting to demand (for instance, providing support to people with any kind of need, bidding by e-mail for short-visit contracts, etc.).

We have had a number of social work students on placement with us and a number of other students studying for their Diploma in Care on a shorter term basis. In addition to all of the other benefits this brings (which are significant), our Learning and Development Manager is able to offer in-placement practice teaching to the students, for which we earn some income.

Once more we have also hosted a number of Thames Valley Police trainees on short secondments, an arrangement which continues to be very successful and enjoyable, as well as a number of work experience placements for students in their later school years on work experience placements.

Review of finances

The Statement of Financial Activities shows a surplus of £251k against an annual turnover of £5.3m.

Total operating income increased by just over 10%, due to:

Operating costs rose by the same factor but these include significant investment in our properties and also depreciation costs for the properties and land that were donated to us from the Duncan Trust, when we merged with them in March 2018.

Administration costs

Direct charitable expenditure and support costs continued to account for the vast majority of expenditure and governance costs accounted for only 0.2% of fee revenue.

The pay and remuneration of the charity’s key staff (currently identified as the Chief Executive, Head of Operations and Head of Finance and Resources) is reviewed and set by the Governors at their January meeting, at the time that they agree the budget for the following financial year. This takes place in closed session and is informed by:

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Reserves Policy

The Governors have reviewed the Trust’s Reserves Policy this year and determined that the Trust’s reserves should continue to equate to 60 days average expenditure and be made up of cash at bank and in hand. This reserves target is influenced by the risks the Trust is exposed to, particularly the very uncertain financial climate and the risks to our income streams. This figure is currently estimated at £835k. The funds available as at March 2021 amounted to £1.2m (net of assets in designated funds).

When reviewing the accounts the Trustees determined that the following assets should be held in designated funds:

  1. An amount of £50,000 for essential repairs to the trusts properties

  2. An amount of £4.6m which related to the Trust’s tangible fixed assets, including land and property in the Trust’s ownership. These assets are regarded as being essential to the sustainable operations of the Trust and will not be realised in the forseeable future.

The Governors are satisfied therefore that the Trust’s reserves at 31 March 2021 are adequate, despite the substantial increase in the reserve target in the 2015/16 financial year. The Governors also accept that the actual reserves figure will be fluid as it will be affected by the Trust’s trading position. Their long term aim remains to attempt to maintain or extend the target, although not at the expense of essential investment in our services.

Demand for the Trust’s services is expected to remain very strong, at least partially mitigating the effect of Local Authorities’ underfunding. The Governors consider the balance sheet position at 31 March 2021 to be sufficient, with adequate assets to meet the Trust’s routine liabilities.

Investment Policy

The Trust has no stock or share investments nor any long-term cash investments. Cash reserves are invested with the Charity Offices Investment Fund (COIF) in accessible deposit accounts in sterling in United Kingdom institutions. In the past this has allowed for development costs and capital expenditure to be handled on an as required basis whilst achieving some investment income. Cash reserves are deposited in low-risk managed accounts which generally avoid especially contentious issues. Fund performance in the year was competitive in a period of generally low interest returns. The Governors review the policy periodically, and gave especially careful consideration during the year to the risk to our investments in view of the global economic position, but no change is envisaged in the short term.

Description of our organisation

Purley Park Trust Limited is governed by its Memorandum and Articles of Association. We are registered with the Care Quality Commission (CQC) who regulate and inspect our Care Homes and Domiciliary Care Services under The Care Quality Commission (Registration) Regulations 2010, the Health and Social Care Act 2008 (Regulated Activities) Regulations 2010, the Health and Social Care Act 2008 and the Care Act 2014.

Purley Park Trust Limited is a charity registered with the Charity Commission (number 261726). It is also a company limited by guarantee with no share capital (company number 989820).

How we organise ourselves

Our Trustees

The strategic direction of Purley Park Trust Limited is the responsibility of the Board of Governors, who are the Trustees of the Charity.

Trustees are referred to as Governors for historical reasons – our founder initially set up the Trust as a school for boys with learning disabilities. The Governors’ experience and qualifications are such that they can make a valuable contribution to the strategy and overall management of Purley Park Trust, and all of them have an active interest in our activities. Potential Governors are identified usually through personal contacts amongst current Governors and Staff, or approaches from interested parties. Trustees are then selected on the basis of

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

their professional experience, qualifications, skills and commitment to the aims of the Trust, as well as in relation to the need for the Trust to have a broad range of expertise relevant both to the charitable aims of the Trust and the proper conduct of its affairs as a company limited by guarantee.

A prospective Governor will apply formally in writing to be elected as a Member of Purley Park Trust Limited and then to be considered for election to the Board. He or she will submit a Curriculum Vitae and explain why they wish to become a Member and Governor, and saying what it is that they believe they will be able to contribute to the good governance of the Trust. All Governors will be sent copies of the application, which will be considered at a Board of Governors Meeting.

All prospective Governors (who are not known personally by a current Governor), will need to provide references and all Governors are subject to a Criminal Records Bureau enhanced disclosure check.

As the Governors are also Company Directors.

They comply with the rules governing eligibility for appointment as company directors, in accordance with the requirements of the Companies Act 2006. An Induction Pack is provided for all new Governors, and this includes guidance provided by the Charity Commission, and professional advisers as well as details about the Trust. The Trust has also a “Governors Training Fund”, a designated fund that is used to defray the costs of Governors’ attendance at training courses, seminars, conferences and so on that are relevant to trustee duties, as well as subscriptions to governance periodicals.

Governors carry out a form of inspection. The format of these inspections is loosely proscribed to enable governors to determine issues to examine on a subjective basis when they visit.

Our Management and Staff Structure

Overall responsibility for the Trust’s day-to-day management is delegated to the Chief Executive, Larry Grady.

Each of our Care Homes is led by a Registered Manager, who is supported by an Assistant Manager and team of Senior Support Workers and Support Workers.

Our Domiciliary Care and Supported Living Services come under the direct management of Roberta Detenon and Diana Earl who are the registered managers of the Domiciliary Care Agency. In practical terms their roles are very clearly defined in terms of management responsibility and accountability for our different supported living services.

The day to day running of the Trust’s finances is managed by Karen Taylor, our Head of Finance and Resources and Suzanne Bailey, our Accounts Manager.

We have a dedicated Manager for Learning and Development, Debbie Mackay who oversees staff training and development.

Our other functions, garden and grounds, and maintenance are carried out on a departmental basis. Each department has a manager and a dedicated budget.

Currently we employ about 150 staff, the majority of whom directly deliver care services to the People we support. It remains our aim to keep our administrative staff and costs to a minimum.

The Board of Governors meets quarterly to receive reports from the Chief Executive and the Operations Manager, and to decide policy on matters as necessary. Annually they consider and approve the budget proposals, approve the audited accounts and review the Health and Safety Policy and Risk Management Plans. The Chief Executive reports between quarterly Board Meetings to the Chairman and the Governor who oversees the financial management of the Trust. On-site inspections of the operation of the Trust are regularly conducted by Governors. The Chief Executive and the Operations Manager work very closely together to ensure the smooth and efficient operation of the Trust within the policies and strategic plan agreed by the Governors and in accordance with legislative requirements and registration standards.

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Review of relationships with other organisations

St Luke’s Trust

St. Luke’s Trust is a small, local charity which provides support for adults with learning disabilities as well as other activities related to their charitable aims. Within this financial year Purley Park Trust has been providing assistance to this charity in the form of advice, support and additional management capacity.

In October 2019, the social care services provided by St Luke’s Trust were transferred to Purley Park Trust. Staff working in those services have become employees of Purley Park Trust under TUPE arrangements. St Luke’s Trust also transferred the land and property associated with their social care services to Purley Park Trust in the form of a donation. This generous step secured the tenancies of the people that rely on the property for their accommodation and support.

Future Plans

The provision of Care Home Services will continue to be our core business and it is our aspiration that we achieve excellence in this area. Demand for the unique environment we provide remains very high.

We shall however continue to diversify our services, albeit while remaining a small, local provider of excellent services. In particular, we will respond to demand for new supported living services from people we know and their families and from commissioners by developing new services of this type. In doing so we will prioritise:

Demand for these services has remained strong, despite the stated preference for other forms of service delivery amongst many Social Services departments. Our reputation is strong and we benefit from the trusting relationships we have with some key commissioners and from word-of-mouth recommendations. As we had anticipated, new referrals (when we can accept them following a vacancy arising) continue to be mostly for people with complex needs.

Generally speaking, local authorities are reluctant to refer people to “traditional” residential care unless their care needs are too complex to be satisfactorily met in other styles of service delivery. The main effect on us of this is increased staff ratios as we support people with more severe learning disabilities and more challenging needs; our recruitment, training and management of Staff reflect this.

Our capacity at Purley Park will not increase in the foreseeable future to meet the demand for places. There is a need (albeit not urgent) to invest in some of our older properties to ensure that our living environments continue to meet the needs of the people we support and the anticipated needs of others who are yet to move in. There is a risk that if we fail to address this issue that our income will also be adversely affected.

Risk Management

The management pursues a continuous and pro-active risk management strategy following identification and assessment of the major risks to which the Trust is exposed. These are reviewed regularly by the management team and at least annually by the Governors at their January Board meeting.

The process used to assess and manage risks across the organisation is reviewed regularly to ensure that risks are identified, analysed and managed effectively.

Our Organisational Risk Matrix identifies risks according to the following areas:

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

General operational risks are assessed and managed by operational managers. However, if a significant level of risk is identified the risk management plan is reviewed regularly by the Chief Executive.

Principal Risks & Uncertainties

As a small organisation, one of our key risks is losing key staff that perform vital and/or technical functions for us. We have done a considerable amount of work to mitigate this risk through succession planning, the restructuring of our senior management team and the delegation of tasks to reduce reliance upon individual staff.

Another key risk identified in our strategy is having insufficient capital to meet our aspirations for the services we deliver. We mitigate this risk by:

The most significant risk (as it is for all providers of care and support services), currently is the continuing uncertainty regarding the future of Health and Social Care services in the UK and the considerable financial pressures that the organisations that purchase our services are under. While these matters are obviously not under our control we have managed these risks so far by:

Governors

The Governors in office during the year were as follows:

Mr L D Jones OBE FCCA (Treasurer) Mrs S Robinson Mr C Trickey RIBA Mr S R Barstow (Chairman) Mrs A Cullimore-Todd Miss R Keeling Mrs S Vandersteen

Governors, who are also Trustees and Directors, are appointed by the existing Governors and confirmed at the Annual General Meeting. They serve for a term of three years, when they may submit themselves for reelection. The Chairman is elected by the Governors and may serve as Chairman for no more than two consecutive terms.

Bankers

The Trust’s bankers during the period under review were the National Westminster Bank Plc.

Solicitors

The Trust’s solicitors during the period under review were Mesesrs. Field Seymour Parkes, Reading.

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Governors' Responsibilities Statement

The Governors (who are also directors of Purley Park Trust Limited for the purposes of company law) are responsible for preparing the Governors' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year. Under company law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditors

So far as each of the Governors is aware at the time the report is approved:

A resolution passed at the Annual General Meeting appointed James Cowper Kreston, Reading Bridge House, George Street, Reading, as auditors to the Trust for the financial year.

By order of the Board

Larry Grady 17 Nov 2021 12:18:08 GMT (UTC +0)

.......................................

Mr LC Grady Secretary 17 November 2021

Purley Park Trust, 12 Huckleberry Close, Purley-on-Thames, Reading, RG8 8EH

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PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED

Opinion

We have audited the financial statements of Purley Park Trust Limited (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Governors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.

Page 14

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:47 GMT (UTC +0) D 1/1 P 17/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Governors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors' Report including the Strategic Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Governors' Responsibilities Statement, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 15

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:48 GMT (UTC +0) D 1/1 P 18/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Page 16

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:49 GMT (UTC +0) D 1/1 P 19/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED (CONTINUED)

Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)

for and on behalf of James Cowper Kreston Chartered Accountants and Statutory Auditor Reading Bridge House George Street Reading Berkshire RG1 8LS

Date: 13 December 2021

Page 17

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:49 GMT (UTC +0) D 1/1 P 20/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and legacies
3
Charitable activities:
4
Charitable activities
Covid-19 related grants
Proceeds on disposal of fixed assets
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
7,900
5,153,804
37,942
4,360
120
5,204,126
4,952,986
4,952,986
251,140
251,140
5,059,513
251,140
5,310,653		 Restricted
funds
2021
£
-
-
127,964
-
-
127,964
127,964
127,964
-
-
-
-
-		 Total
funds
2021
£
7,900
5,153,804
165,906
4,360
120
5,332,090
5,080,950
5,080,950
251,140
251,140
5,059,513
251,140
5,310,653		 Total
funds
2020
£
842,338
4,727,659
1,155
-
5,129
5,576,281
4,529,607
4,529,607
1,046,674
1,046,674
4,012,839
1,046,674
5,059,513

The notes on pages 21 to 36 form part of these financial statements.

Page 18

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:50 GMT (UTC +0) D 1/1 P 21/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 00989820

BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
15
Total net assets
Charity funds
Unrestricted funds
16
Total funds		 428,503
1,273,561
1,702,064
(423,741)		 2021
£
4,565,313
1,278,323
5,843,636
(532,983)
5,310,653
5,310,653
5,310,653		 523,644
1,038,599
1,562,243
(516,734)		 2020
£
4,574,591
1,045,509
5,620,100
(560,587)
5,059,513
5,059,513
5,059,513

The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:

Stephen Barstow 17 Nov 2021 16:34:32 GMT (UTC +0)

................................................

Mr S R Barstow, Chairman

Date: 17 November 2021

The notes on pages 21 to 36 form part of these financial statements.

Page 19

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:51 GMT (UTC +0) D 1/1 P 22/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Loan funds received
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20		 2021
£
377,489
120
4,360
(103,442)
(98,962)
(43,565)
-
(43,565)
234,962
1,038,599
1,273,561		 2020
£
251,532
5,129
-
(373,958)
(368,829)
(38,940)
290,000
251,060
133,763
904,836
1,038,599

The notes on pages 21 to 36 form part of these financial statements

Page 20

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:52 GMT (UTC +0) D 1/1 P 23/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Purley Park Trust Limited meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Trustees believe the Charity to be a going concern.

1.2 Company status

The charity is a company limited by guarantee. The members of the company are the Governors named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.3 Going concern

The Trustees have considered the impact of the global Covid-19 pandemic on the ability of the charitable company to continue operating for the foreseeable future. This review has included considering the impact of the pandemic to the date of signing the financial statements and based on this review the trustees believe that the financial statements have been prepared appropriately on the going concern basis.

1.4 Donations, bequests and other receipts

Donations and bequests are accounted for on a receivable basis. Donations in kind are included at the estimated value to the charity.

1.5 Government grants

Government grants are recognised on a receivable basis, when there is entitlement and the amount can be measured.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

1.7 Allocation of overheads

Overheads are allocated specifically either to direct charitable expenditure or costs of generating funds, except for governance costs which are disclosed separately.

Page 21

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.9 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services, facilities or assets are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Governors' report for more information about their contribution.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 22

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:53 GMT (UTC +0) D 1/1 P 25/40

PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.10 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

1.11 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold buildings - 2% straight line
Improvements to leasehold - 5% straight line
properties
Furnishing & fittings - 20% straight line
Office equipment - 20% straight line
Motor vehicles - 25% straight line
Workshop garden equipment - 25% straight line

1.12 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 23

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PURLEY PARK TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.14 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.15 Pensions

Pension costs are charged to the Statement of Financial Activities as incurred.

2. Critical accounting estimates and areas of judgment

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.

3. Income from donations and legacies

Donations
Donation from St Luke's Trust
Total 2021
Total 2020		 Unrestricted
funds
2021
£
7,900
-
7,900
842,338		 Total
funds
2021
£
7,900
-
7,900
842,338		 Total
funds
2020
£
7,338
835,000
842,338

Page 24

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:54 GMT (UTC +0) D 1/1 P 27/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Income from charitable activities

Fees for care services
Residents' travel contributions
Miscellaneous income
Management fees
Total 2021
Total 2020		 Unrestricted
funds
2021
£
5,106,148
81,728
3,870
-
5,191,746
4,728,814		 Restricted
funds
2021
£
127,964
-
-
-
127,964
-		 Total
funds
2021
£
5,234,112
81,728
3,870
-
5,319,710
4,728,814		 Tota
funds
2020
£
4,599,426
71,120
12,418
45,850
4,728,814

5. Investment income

Interest receivable
Total 2020		 Unrestricted
funds
2021
£
120
5,129		 Total
funds
2021
£
120
5,129		 Total
funds
2020
£
5,129

6. Analysis of expenditure on charitable activities

Summary by fund type

Care service costs
Support costs
Total 2020		 Unrestricted
funds
2021
£
4,470,699
482,287
4,952,986
4,529,607		 Restricted
funds
2021
£
47,343
80,621
127,964
-		 Total
funds
2021
£
4,518,042
562,908
5,080,950
4,529,607		 Total
funds
2020
£
3,908,730
620,877
4,529,607

Total 2020

Page 25

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:55 GMT (UTC +0) D 1/1 P 28/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Care service costs
Support costs
Total 2020		 Staff costs
2021
£
3,763,349
321,062
4,084,411
3,595,069		 Depreciation
2021
£
112,720
-
112,720
89,841		 Other costs
2021
£
641,973
241,846
883,819
844,697		 Total
funds
2021
£
4,518,042
562,908
5,080,950
4,529,607		 Total
funds
2020
£
3,908,730
620,877
4,529,607

7. Analysis of expenditure by activities

Care service costs
Support costs
Total 2020		 Activities
undertaken
directly
2021
£
4,518,042
-
4,518,042
3,908,730		 Support
costs
2021
£
-
562,908
562,908
620,877		 Total
funds
2021
£
4,518,042
562,908
5,080,950
4,529,607		 Total
funds
2020
£
3,908,730
620,877
4,529,607

Page 26

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:56 GMT (UTC +0) D 1/1 P 29/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Wages and salaries
Office expenses
Covid-19 expenses
Subscriptions
Bank charges
Accountancy fees
Interest payable
Marketing, fundraising, entertainment
Governance costs
Total
Auditor's remuneration
Auditor's remuneration - audit
Fees payable to the Charity's auditor in respect of:
Auditor's remuneration - other
Pension scheme Auditor's Statements		 Total
funds
2021
£
321,062
117,595
80,621
8,494
3,409
6,350
14,177
7,724
3,476
562,908
2021
£
7,200
3,400
-		 Total
funds
2020
£
408,028
136,533
-
9,104
3,410
7,500
16,154
33,148
7,000
620,877
2020
£
7,000
3,300
640

8. Auditor's remuneration

9. Staff costs

Wages and salaries
Social security costs
Other pension costs		 2021
£
3,720,188
270,152
94,071
4,084,411		 2020
£
3,277,460
241,124
76,485
3,595,069

During the year, the Charity made redundancy payments of £7,935 (2020: £nil) to one employee. The Charity also entered agreements with two employees to pay them redundancies at the end of their notice periods after the year end. These payments will total £13,928 (2020: £nil).

Page 27

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PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Care
Administration
The number of higher paid employees was:
In the band £80,001 - £90,000
In the band £90,001 - £100,000		 2021
No.
150
14
164
2021
No.
-
1		 2020
No.
136
15
151
2020
No.
1
-

During the year remuneration paid to key management totalled £227,350 (2020: £259,559).

10. Governors' remuneration and expenses

During the year, no Governors received any remuneration or other benefits (2020 - £NIL).

During the year ended 31 March 2021, no Governors received any reimbursement of expenses (2020: - £ NIL)

11. Tax on surplus on ordinary activities

In the view of the Company's charitable status, no liability to UK corporation tax arises on any surplus for the year.

Page 28

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:57 GMT (UTC +0) D 1/1 P 31/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. Tangible fixed assets

Cost or valuation
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
On disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Freehold
property
£
4,569,192
-
-
4,569,192
136,037
65,244
-
201,281
4,367,911
4,433,155		 Improvements
to Leasehold
Properties
£
51,506
47,111
-
98,617
8,425
4,026
-
12,451
86,166
43,081		 Fixtures
and
fittings
£
226,751
2,284
(1,596)
227,439
196,574
13,690
(1,596)
208,668
18,771
30,177		 Office
equipment
£
82,858
18,585
-
101,443
52,904
9,660
-
62,564
38,879
29,954		 Workshop
Garden
Equipment
and Cars
£
200,649
35,462
(11,275)
224,836
162,425
20,100
(11,275)
171,250
53,586
38,224		 Total
£
5,130,956
103,442
(12,871)
5,221,527
556,365
112,720
(12,871)
656,214
4,565,313
4,574,591

Included in freehold property is freehold land at cost of £1,756,583 (2020: £1,756,583) which is not depreciated.

Page 29

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PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Debtors

Trade debtors (including Residents)
Other debtors
Prepayments and accrued income		 2021
£
140,889
4,845
282,769
428,503		 2020
£
252,635
13,875
257,134
523,644

14. Creditors: Amounts falling due within one year

Bank loans
Trade creditors (including Residents)
Other taxation and social security
Other creditors
Accruals and deferred income		 2021
£
28,635
87,352
61,655
132,047
114,052
423,741		 2020
£
30,420
215,250
55,972
102,611
112,481
516,734

Page 30

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PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. Creditors: Amounts falling due after more than one year

Bank loans
Other loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years
Other loans
Creditors include amounts not wholly repayable within 5 years as follows:
Repayable other than by instalments		 2021
£
428,091
104,892
532,983
2021
£
29,619
398,472
104,892
2021
£
-		 2020
£
455,695
104,892
560,587
2020
£
28,635
427,060
104,892
2020
£
104,892

The other loan is interest free and there are no fixed terms for repayment. The loan is secured by a charge over a property owned by the charity.

There are two bank loans. The first bank loan accrues interest at a rate of 4.01% annually and is repayable in monthly instalments until July 2023. The second bank loan accrues interest at a rate of 2.15% annually and is repayable in monthly instalments until May 2024. Both loans are secured by a charge over a property owned by the charity.

Bank loans are secured with charges over assets with a combined cost of £755,192, and net book value of £731,241 (2020: £741,059). Other loans are secured against all assets of Purley Park Trust.

Page 31

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:34:59 GMT (UTC +0) D 1/1 P 34/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Property Repairs fund
Fixed Assets fund
General funds
Accumulated general fund
Total Unrestricted funds		 Balance at 1
April 2020
£
50,000
4,574,591
4,624,591
434,922
5,059,513		 Income
£
-
-
-
5,204,126
5,204,126		 Expenditure
£
(50,000)
(112,721)
(162,721)
(4,790,265)
(4,952,986)		 Transfers
in/out
£
-
103,443
103,443
(103,443)
-		 Balance at
31 March
2021
£
-
4,565,313
4,565,313
745,340
5,310,653

Designated funds:

The property repairs fund relates to amounts earmarked for essential repairs to the trust's properties. This was reduced to £nil at the year end as the Charity had spent this value on repairs during the year, and no longer considered it necessary to hold this money in a separate fund.

The fixed assets fund represents the net book value of the trust's fixed assets. The Trustees determined that the net book value of the trust's fixed assets should be held in a designated fund to provide a better understanding of the trust's unrestricted funds.

Restricted funds

West Berkshire District Council
Covid funding
Total of funds		 -
5,059,513		 127,964
5,332,090		 (127,964)
(5,080,950)		 -
-		 -
5,310,653

Restricted funds

The West Berkshire District Council Covid funding was received towards the cost of PPE, staff safety measures, and additional staff to cover Covid related sick leave during the year.

Page 32

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:00 GMT (UTC +0) D 1/1 P 35/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Statement of funds (continued)

Statement of funds - prior year

Designated funds
Governors training fund
Property Repairs fund
Fixed Assets fund
General funds
Accumulated general fund
Total Unrestricted funds		 Balance at
1 April 2019
£
3,251
91,336
3,455,474
3,550,061
462,778
4,012,839		 Income
£
-
-
-
-
5,576,281
5,576,281		 Expenditure
£
-
(91,336)
(89,841)
(181,177)
(4,348,430)
(4,529,607)		 Transfers
in/out
£
(3,251)
50,000
1,208,958
1,255,707
(1,255,707)
-		 Balance at
31 March
2020
£
-
50,000
4,574,591
4,624,591
434,922
5,059,513

17. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
April 2020
£
4,624,591
434,922
-
5,059,513		 Income
£
-
5,204,126
127,964
5,332,090		 Expenditure
£
(162,721)
(4,790,265)
(127,964)
(5,080,950)		 Transfers
in/out
£
103,443
(103,443)
-
-		 Balance at
31 March
2021
£
4,565,313
745,340
-
5,310,653

Page 33

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:01 GMT (UTC +0) D 1/1 P 36/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

17. Summary of funds (continued)

Summary of funds - prior year

Designated funds
General funds		 Balance at
1 April 2019
£
3,550,061
462,778
4,012,839		 Income
£
-
5,576,281
5,576,281		 Expenditure
£
(181,177)
(4,348,430)
(4,529,607)		 Transfers
in/out
£
1,255,707
(1,255,707)
-		 Balance at
31 March
2020
£
4,624,591
434,922
5,059,513

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
4,565,313
Current assets
1,702,064
Creditors due within one year
(423,741)
Creditors due in more than one year
(532,983)
Total
5,310,653		 Total
funds
2021
£
4,565,313
1,702,064
(423,741)
(532,983)
5,310,653

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2020
£
4,574,591
1,562,243
(516,734)
(560,587)
5,059,513		 Total
funds
2020
£
4,574,591
1,562,243
(516,734)
(560,587)
5,059,513

Page 34

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:01 GMT (UTC +0) D 1/1 P 37/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest paid on loan
Dividends, interests and rents from investments
Loss/(profit) on the sale of fixed assets
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Donated assets
Net cash provided by operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
21.
Analysis of changes in net debt
At 1 April
2020
£
Cash at bank and in hand
1,038,599
Debt due within 1 year
(30,420)
Debt due after 1 year
(560,587)
447,592		 2021
£
251,140
112,720
14,177
(120)
(4,360)
95,140
(91,208)
-
377,489
2021
£
1,273,561
1,273,561
Cash flows
£
234,962
1,785
27,604
264,351		 2020
£
1,046,674
89,841
14,696
(5,129)
-
(155,814)
96,264
(835,000)
251,532
2020
£
1,038,599
1,038,599
At 31 March
2021
£
1,273,561
(28,635)
(532,983)
711,943

22. Pension commitments

The company operates a defined contribution scheme in respect of its employees. Contributions are charged in the financial statements as incurred and there were outstanding contributions as at the balance sheet date of £nil (2020: £534). Pension costs charged in the year were £94,071 (2020: £76,485).

Page 35

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:02 GMT (UTC +0) D 1/1 P 38/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

23. Operating lease commitments

At 31 March 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2021
£
-
-
-		 2020
£
781
538
1,319

24. Related Party Transactions

The Charity has the following related parties:

The Friends of Purley Park

The Friends of Purley Park is the successor body to the League of Friends, which was formed in 1970 to raise funds with which to enhance the lives of the Residents. The Friends of Purley Park, although a separate body, operates under the guidance of the Governors (Trustees) of Purley Park Trust who retain responsibility for it.

25. Controlling party

The ultimate controlling party is that of the governors as stated on page 1.

Page 36

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:03 GMT (UTC +0) D 1/1 P 39/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Income
Fees receivable
Interest receivable
Donations and bequests
Donation from St Luke's Trust
Government grants
Disposals of fixed assets
Miscellaneous income
Gross income in the reporting period
Less:
Operating costs
Wages, salaries, employer's NIC, pensions
Health insurance
Staff training
Staff recruitment
Food and provisions
Rent and rates
Insurance
Utilities
Fire, health and safety
General repairs, maintenance and renewals
Day care, workshop, craft and garden
Vehicle expenses and insurance
Registration fees
Household expenses
Miscellaneous
Depreciation
Admin expenses
Wages, salaries, employer's NIC, pensions
Office expenses
Marketing, fundraising, entertainment
Audit fee
Accountancy fee
Bank charges
Subscriptions
Interest payable		 2021
£
5,068,206
120
7,900
-
165,906
4,360
85,598
3,716,006
26,756
18,862
8,366
128,515
75,988
26,009
68,224
15,741
144,141
5,468
53,254
9,342
47,722
873
112,720
461,738
117,595
7,724
3,476
6,350
3,409
8,494
14,177		 2021
£
5,332,090
4,457,987		 2020
£
4,598,271
5,129
7,338
835,000
1,155
-
129,388
3,187,041
24,384
20,810
10,444
132,214
70,030
26,673
89,352
11,893
129,942
10,134
50,776
7,650
46,074
1,472
89,841
408,028
136,533
33,148
7,000
7,500
3,410
9,104
16,154		 2020
£
5,576,281
3,908,730

622,963

620,877

Transaction Ref. CP8Y-EXS9-A9WE 17 Nov 2021 16:35:03 GMT (UTC +0) D 1/1 P 40/40

PURLEY PARK TRUST LIMITED

(A Company Limited by Guarantee)

INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

2021
£
Total expenditure
Net income for the reporting period
Surplus for the reporting period
Funds brought forward at 1 April 2020
Funds carried forward at 31 March 2021		 2021
2020
£
£
5,080,950
251,140
251,140
5,059,513
5,310,653		 2020
£
4,529,607
1,046,674
1,046,674
4,012,839
5,059,513

The notes on pages 21 to 36 form part of these financial statements.