2021-03-31-accounts

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Annual Report & Consolidated Financial Statements

Amicus Trust Limited (A company limited by Guarantee)

For the year ended 31 March 2021

Charity No. 268639 Company No. 01182060

Amicus Trust Limited (a company limited by guarantee) Financial statements for the year ended 31 March 2021

Charity number:	268639
Company registration number:	1182060
Registered ofce:	31A Prebend Street
	BEDFORD
	MK40 1QN
Directors and trustees:	M M Smythe - Chair
	J N Sackett
	J Owen - Treasurer
	J M H Armitage
	J D Owen
	N D Daniels
	S Dalton (appointed 7thDecember
	2020)
	S J Dickinson (appointed 2ndJune
	2021)
	A Macaulay (appointed 2ndJune 2021)
Chief executive:	J P Prince
Secretary:	J P Prince
Bankers:	Unity Trust Bank PLC
	Bank of Scotland PLC
	Bath Building Society
Auditor:	Mazars LLP
	Chartered Accountants & Statutory
	Auditor
	The Pinnacle, 160 Midsummer
	Boulevard,
	Milton Keynes, MK9 1FF

Contents page to the financial statements

	PAGE
Report of the trustees	1 – 7
Independent auditor's report	8 – 11
Principal accounting policies	12 - 15
Consolidated Statement of fnancial activities	16
Comparative Consolidated Statement of fnancial activities	17
Consolidated Balance sheet	18
Charitable Company Balance sheet	19
Consolidated Statement of cash fows	20
Notes to the fnancial statements	21 - 36

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

REPORT OF THE TRUSTEES

The trustees, who are directors of the group for the purposes of the Companies Act, present their annual report and audited consolidated financial statements of the company and its subsidiary for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Directors and trustees

The directors of the charitable company Amicus Trust Limited are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. As set out in the Articles of Association dated 25 July 1974, as amended on 3 June 2010, the chairman of the trustees is nominated at the Annual General Meeting. The trustees have the power to co-opt members to fill specialist roles.

The trustees

The trustees serving during the year and since the year end were as follows:

M Smythe - Chair J Sackett J Owen - Treasurer J Armitage J D Owen N D Daniels S Dalton (appointed 7[th] December 2020)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Amicus Trust Limited is a company limited by guarantee, incorporated on 28 August 1974 in England and Wales, company number 1182060 and registered as a charity on 11 February 1975, charity number 268639.

Organisation

The company is managed by a board of unpaid trustees of up to 15 members. Trustees are recruited in line with Amicus Trust Limited's equal opportunities policy and selected on the basis of their dedication to the aims of Amicus Trust Limited and their experience of homeless issues, and working with vulnerable or excluded people, either through their daily work or in a voluntary capacity. New trustees must be members of Amicus Trust Limited and may be voted in during board meetings. New trustees are inducted by internal and external trainers and provided with training in the regulatory framework in which Amicus Trust Limited operates. The board of trustees meet quarterly. There are sub committees: a Job Evaluation Committee and an Audit Committee. The Chief Executive is assigned the day to day management of operations of the charity.

Amicus Trust Limited has a Job Evaluation Scheme in place which forms the basis of a fair pay system across the organisation.

During the year ended 31 March 2014, the charitable company took control of the charity Charlotte Beaty’s Almshouses. The charity’s principal activity is in line

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

with that of the charitable company. The charity has no share capital therefore the charitable company has control of the charity as it is the sole trustee. The address of the registered office is Amicus Trust 31a Prebend St, Bedford MK40 1QN. The subsidiary is exempt from audit by virtue of Section 479A of the Companies Act 2006.

Risk management

The trustees have carried out a detailed review of the charity's activities in line with the business plan, which sets out the opportunities available to Amicus Trust Limited and the risks to which it is exposed. The trustees monitor the progress against the strategic objectives set out in the plan at each quarterly meeting and a comprehensive review of the plan is carried out annually. As part of this process, the trustees have implemented a risk management strategy, which comprises:

An annual review of the risks which the charity may face;
The establishment of systems and procedures to mitigate those risks identified in the plan; and
The implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.

The risks that could potentially have an impact on the charity are:

Termination of funding from other bodies
Lack of funding for specific projects
The future of contracts; and
A demise in the need for the service
The Trustees do not consider that Brexit will have a noteworthy impact on the Charity given its operations

OBJECTIVES AND ACTIVITIES

Purpose and aim

Amicus Trust Limited's purpose, as set out in the objects contained in the company's Memorandum of Association, is to:

Provide relief of poverty of persons who, by reason of mental or physical condition are unable to fulfil their duties as citizens.

In undertaking this objective, Amicus Trust Limited aims to provide support, guidance and short-term accommodation to single homeless individuals. We aim to enable each individual service user to achieve and maintain independent living. In addition to our core provision of supported accommodation, our service users have access to our specialist outreach team who provide an individually tailored Education, Employment and Training service.

Our aim fully reflect the purpose that the charity was set up to further.

Ensuring our work delivers our aims

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity, the main one being how many residents have been helped to move on to independent living, and the benefits they have brought the groups of people that we are set up to help. The review also helps us to ensure that our aims, objectives and activities remain focused on our stated purposes.

We have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing our aims and objectives, and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that they have set.

The focus of our work

Our main objectives for the year continued to be the provision of accommodation, support and guidance to single homeless people. The charitable company in practice provides services to homeless people in Bedfordshire, Buckinghamshire, Northamptonshire, Leicestershire, AylesburyVale, Huntingdonshire, Cambridgeshire and our subsidiary undertaking, Charlotte Beaty’s Almshouses provides services to those in Buckinghamshire. The strategies we used to meet our objectives included:

Providing a range of services which fully reflect the relevant quality standards and address all the main issues related to homelessness; and
Working in partnership with other agencies to secure the widest of services available that best match the needs of our clients.

How our activities deliver public benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the needs of single homeless people and are undertaken to further our charitable purposes for the public benefit.

Charity SORP requires the trustee’s report to include the criteria used to measure and assess success in the reporting period.

ACHIEVEMENTS AND PERFORMANCE

Education and employment services

Amicus Trust Limited employs over 85 members of staff, and manages a number of projects providing accommodation support for over 300 individuals in Bedfordshire, Buckinghamshire, Northamptonshire, Leicestershire, AylesburyVale, Huntingdonshire, and now Cambridgeshire.

Service provision focuses on supporting service users as they achieve and sustain independence through individual support plans. This is managed through ongoing support including assisting service users to improve their life

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

skills, to access education, training and employment and the provision of accommodation.

Amicus Trust Limited has developed innovative services to deal with issues faced by service users. The Trust identified the need for a service delivery to homelessness veterans and today is supporting over 60 single homeless veterans. Amicus Trust Limited has dedicated houses for homeless veterans in Bedfordshire, Buckinghamshire, Northamptonshire and Leicestershire. Amicus Trust Limited continues to develop strong relationships with other agencies who support homeless service users, which provides a platform on which to improve future provision.

Supported accommodation

Amicus Trust Limited has many years' experience of providing accommodation for the homeless. The broad criteria for letting the accommodation are that an individual needs a period of support and reskilling before they can resume independent living. The accommodation and support is provided in one of the group homes and any reskilling and retraining is provided through the Stepping Stones project, with a Life Skills Development Worker or with a Mental Health Lead Officer. When an individual is ready to move on to independent accommodation they are helped to secure that accommodation and provided with any resettlement support required. A member of staff will stay in touch for as long as is necessary to allow for a smooth transition back into the community.

In 2014, a pilot Veteran project for Amicus Trust Limited was set up to provide accommodation and support for 3 veterans and was the inspiration behind the creation of Heroes House, which provides support and accommodation for up to 9 homeless veterans. Further properties have been opened in Aspley Guise, Northamptonshire and Leicestershire and today we support over 60 homeless veterans.

Night Owl Project

The Night Owl Bus delivers support and guidance to individuals aged over 16 years. The type of support and guidance given is as follows:

Advice with housing applications and accessing supported accommodation
Assistance with identifying areas of need requiring additional support to progress positively;
Signposting to specialist support agencies; and
Provision of a warm safe environment to sleep in overnight.

Alms Houses

In 2014 the charitable company took control of the charity Charlotte Beaty’s Almshouses. The charity owns a group of houses in Buckinghamshire. The charity does not have any employees and is managed by the trust.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

FINANCIAL REVIEW

Reserves policy

As a result of focusing on obtaining new grants and minimising cost increases, the end of the year saw a positive financial result. The total reserves have increased from £3,624,397 to £4,588,909 as at 31 March 2021. As at 31 March 2021, the charitable company's free reserves were £3,014,373 (2020: £2,193,053). As Amicus Trust has grown significantly over the past three years, it has been possible to hold free reserves to cover 3 months expenditure and any surplus funds are planned to increase the level of free reserves to cover more than 6 months expenditure. Our reserves policy also calls for us to retain enough reserves to cover ongoing financial commitments in terms of leases etc. These commitments currently stand at £9.4M over the next 5 years.

Income and expenditure

Total income for the year increased to £6,281,512 in 2021 from £5,403,916 in 2020. The overall costs of the supported accommodation activity rose during the year from £3,262,480 in 2020 to £4,400,797 in 2021. This is due to increased service provision.

The proportion of income received for restricted purposes represents 2% (2020: 2%) of total income. The focus of our restricted activities during the year was on Veterans projects and the provision of Mental Health support.

Overall, the results show a total surplus for the year before recognised gains and losses of £953,933 (2020: £681,021). This consists of a surplus before transfers on restricted funds of £110,751 (2020: £59,497), and a surplus before transfers and other recognised gains of £843,182 (2020: £621,524) on unrestricted funds.

At year-end, the balance of unrestricted funds was £4,369,399 (2020: £3,515,638) and for restricted funds was £219,510 (2020 : £108,759).

Capital commitment

A provision of £50k was made in the accounts for 20/21 to cover major Health and Safety expenditure during March, April & May 2020. This has been delayed due to the Covid 19 pandemic.

Investment powers

Under the Memorandum and Articles of Association, the charity has the power to make any investment, which the trustees see fit.

The trustees are satisfied with the performance of the investments during the year.

Impact of the outbreak of COVID-19 on the financial statements

The outbreak of COVID-19 had led to increased challenges for the Charity. Our primary concern is always for the safety of the residents in our properties and our staff. During the pandemic we have ensured our staff have had the correct PPE equipment in order that they maintain as much contact with our residents

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

as possible within the laid down guidelines. A lot more remote contact has obviously taken place than before the pandemic.

PLANS FOR FUTURE PERIODS

Support and Accommodation Projects

The future plans for Amicus Trust Limited will see significant new opportunities as the Trust continues to grow and to develop the range of services it provides.

Our Business Plan covers an analysis of the current position, opportunities and threats, and outlines the strategic activities that will enable the Charity to meet its objectives.

To enhance present and prospective partners knowledge of our services and encourage partnership working within other geographical areas.

To work within our objectives, Amicus Trust Limited will prevent repeated homelessness.

Work is continuing in developing further support to ex-military personnel providing accommodation, education, training and employment.

Statement of trustees' responsibilities

The trustees (who are also directors of Amicus Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees 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 income and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees 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

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. 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.

In so far as each of the trustees is aware:

there is no relevant audit information of which the charitable company’s auditor are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Mazars LLP have been appointed as Auditors, and will be deemed reappointed for the next financial year in accordance with section 162 of the Charities Act 2011 unless the company receives notice under section 419(2) of the Companies Act 2006.

Small Company Provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

BY ORDER OF THE TRUSTEES

………………………………………………………..

M Smythe Chair of Trustees

Date:

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Independent auditor’s report to the members of Amicus Trust Limited

Opinion

We have audited the financial statements of Amicus Trust Limited (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, Comparative Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, 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 FRS 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:

give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 31 March 2021 and of the group’s income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis of 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 charity and group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.

Comments relating to a going concern

In auditing the financial statements, we have concluded that the trustees' 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 group's and the parent charity’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.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

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

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 trustees 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.

In connection with our audit of the financial statements, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Trustees’ Report which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors’ Report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report.

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

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the group and parent charity financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specific by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Report of the Trustees and from the requirement to prepare a Strategic Report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the parent charity 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 trustees 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 trustees are responsible for assessing the group’s and the parent charity’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 trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors 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 the 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. Based on our understanding of the group and the parent charity and their industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation, non-compliance with implementation of government support schemes relating to COVID-19, and we considered the

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.

We evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, significant one-off or unusual transactions and revenue cut-off.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations;
Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the group and the parent charity which were contrary to applicable laws and regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:

Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

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.

Use of the audit report

This report is made solely to the charitable group’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 group’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

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

accept or assume responsibility to anyone other than the charitable group and the charitable group’s members as a body for our audit work, for this report, or for the opinions we have formed.

Vincent Marke

(Senior Statutory Auditor)

for and on behalf of Mazars LLP

Chartered Accountants and Statutory Auditor The Pinnacle 160 Midsummer Boulevard Milton Keynes MK9 1FF

Date:

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

PRINCIPAL ACCOUNTING POLICIES

GENERAL INFORMATION

Amicus Trust Limited is a private company limited by guarantee, incorporated in England and Wales. The liability of each board member is limited to £1. The registered office is 31A Prebend Street, Bedford, MK40 1QN. The principal activity of the charity is to provide relief of poverty of person’s who, by reason of mental or physical condition are unable to fulfil their duties as citizens. The registered company and charity numbers are listed on the company information page.

The financial statements have been prepared in sterling GBP as this is the charity’s functional currency. All numbers are rounded to the nearest £.

ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with 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 2016) (Charities SORP 2019 (FRS 102)) and the Companies Act 2006.

Amicus 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 note(s).

Going Concern

The financial statements have been prepared on the going concern basis because there are no material uncertainties related to events or conditions that may cast significant doubts about the ability of the charity to continue as a going concern.

Basis of consolidation

The financial statements consolidate the accounts of Amicus Trust Limited and its subsidiary undertaking, Charlotte Beaty(‘s) Almshouses, registered charity number 1049099.

Under Section 408 of the Companies Act 2006 the charitable company is exempt from the requirement to present its own profit and loss account. The surplus for the year within the accounts for the charitable parent company was £932,428 (2020: £664,457).

All amounts in respect of group balances and transactions have been eliminated in arriving at the group figures.

The principal accounting policies of the charity are set out below.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Income

Donations and gifts

The income for the year is attributable to the principal activity of the charity, which is providing accommodation and support to single homeless people. Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when received. The value of the services provided by volunteers has not been included. Income (continued)

Rental income

Rental income is the income receivable for actual accommodation provided during the year to residents, excluding any arrears regarded as unrecoverable.

Investment income

Investment income includes interest accrued over the period but receivable on maturity, and includes any related tax credits.

Grants

Grants, including those for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities for the year in which they are receivable. Grants for the purpose of fixed assets are set aside in a restricted fund and the cost of the asset purchase is written-off against the funds over its estimated useful life.

Expenditure

Expenditure is recognised in the period in which it is incurred and includes attributable VAT. Expenditure is allocated to the particular project where the cost relates directly to the activity of that project. However the cost of overall direction and administration of each project, comprising of salary and overhead costs of the central function, is apportioned based on the salary costs for each project.

The costs of generating funds relate to the costs incurred by the charity in raising funds for charitable work.

Governance costs include the management of the company's assets, organisational management and compliance with constitutional statutory requirements.

Tangible fixed assets

Depreciation is provided for on assets with cost in excess of £500 in order to write off the cost of each asset over its estimated useful life, as shown below:

25% and 35% Furniture and equipment on cost Infrastructure / Building Works 20% on cost Improvements to Leasehold property Over the life of the lease Vehicles 25% on cost Freehold property Not depreciated

Freehold property is revalued by an appropriately qualified person every 3-4

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

years, or when the book value is significantly different from the market value. Depreciation costs are allocated to projects on the basis of the use of the related assets in those projects.

Pensions

The company operates 2 defined contribution (Money Purchase Plan) pension schemes which are managed by The Pensions Trust. The company's contributions payable for the year are charged in the Statement of Financial Activities as an unrestricted cost.

Unrestricted funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds

Designated funds are unrestricted funds set aside by the Board of Trustees for particular purposes.

Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together with a fair allocation of management and support costs, where applicable.

Investments

The charitable company has an investment in its subsidiary undertaking by virtue of its control over the entity.

Listed investments are held at open market value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Financial instruments

Financial assets and liabilities are recognised on the Balance Sheet when the charity has become a party to the contractual provisions of the instrument.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Operating leases

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the company’s accounting policies, the Directors are required to make judgements, estimates and assumptions in determining reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates, and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.

The key estimates and assumptions made in these accounts are:

All debtors are reviewed to determine if a bad debt provision is required for each balance.

Property is held at fair value and is valued every 3-4 years by an external valuer. The Trustees assess the valuation annually based on market assumptions. Refer to notes 11 and note 12 for further details.

Impairment testing is carried out for all tangible assets and investments at the year end date where there is an indication that impairment exists. For the purposes of impairment testing, the carrying amounts of the tangible assets are reviewed and an impairment loss is recognised where the carrying amounts exceed the assets recoverable amount.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the assets and is recognised in

Amicu5 Trust Lirnited IA comparhy limited by guarantee) Financial statements for the year ended 31 March 2021 17 Statement of Financial Activities.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Consolidated statement of Financial Activities (including income and expenditure account)

						Total	Total
			Not	Restrict	Unrestrict	2021	2020
			e	ed	ed
				£	£	£	£
Income from
Voluntary income			1	1,173	-	1,173	2,157
Investment income			2		300	300	1,082
Income from charitable	activities:		3
Supported accommodation					6,137,650	6,137,65	5,270,13
						0	4
Mobile Night	Shelter		3		-	-	5,150
Grants			3	19,899	-	19,899	60,500
Veterans projects
Wellingborough Land Aid			3	36,000	-	36,000	-
Mental	Health		3	44,206	-	44,206	-
Northampton
Mental Health – South			3	20,000	-	20,000	-
Nationwide Charities Trust			3	145	-	145	32,134
Other charitable grants			3	19,184	2,955	22,139	32,759
Total income				140,60	6,140,90	6,281,51	5,403,9
				7	5	2	16
Expenditure on
Cost of generating funds
Raising funds	from	other			(6,628)	(6,628)	-
organisations
Charitable activities:
Supported accommodation					(4,400,79	(4,400,7	(3,262,4
					7)	97)	80)
Outreach/Mobile	Night			(316)	-	(316)	(9,297)
Shelter
Veterans projects				(28,94	-	(28,945)	(52,012)
				5)
Other projects				(595)	(890,298)	(890,893	(1,399,1
						)	06)
Total expenditure			5	(29,85	(5,297,7	(5,327,5	(4,722,8
				6)	23)	79)	95)
				__	__	__	__
Net income / (expenditure)			7	110,75	843,182	953,933	681,021
				1
Gains / (losses) on investments			13		10,579	10,579	(3,429)
Transfers between funds			20		-	-	-
Other recognised gains	/ (losses)
Gains on revaluation of					-	-	-
fxed assets
				_	__	__	__

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Consolidated statement of Financial Activities (including income and expenditure account)

Net movement in funds for	110,75	853,761	964,512	677,592
the year	1
Total funds at 1 April 2020	108,75	3,515,638	3,624,39	2,946,80
	9		7	5
Total funds at 31 March	219,51	4,369,39	4,588,90	3,624,3
2021	0	9	9	97

All of the activities of the group in the current year are classed as continuing.

The group has no recognised gains or losses other than the results for the year as set out above.

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

						Total
			Not	Restricte	Unrestrict	2020
			e	d	ed
				£	£	£
Income from
Voluntary income			1	2,157	-	2,157
Investment income			2	-	1,082	1,082
Income from		charitable	3
activities:
Supported				-	5,270,134	5,270,134
accommodation
Mobile Night	Shelter		3	5,150	-	5,150
Grants
Veterens projects			3	60,500	-	60,500
Nationwide	Charities		3	32,134	-	32,134
Trust
Other Charitable grants			3	27,475	5,284	32,759
Total income				127,416	5,276,50	5,403,91
					0	6
Expenditure on
Cost of generating funds
Raising funds		from other		-	-	-
organisations
Charitable activities:
Supported				-	(3,262,48	(3,262,48
accommodation					0)	0)
Outreach/Mobile		Night		(9,297)	-	(9,297)
Shelter
Veterans projects				(52,012)	-	(52,012)
Other projects				(6,610)	(1,392,49	(1,399,10
					6)	6)
Total expenditure			5	(67,919	(4,654,9	(4,722,8
				)	76)	95)
				__	__	__
Net income		/	7	59,497	621,524	681,021
(expenditure)
Gains / (losses)		on		-	(3,429)	(3,429)
investments
Transfer between funds				3,839	(3,839)	-
				__	__	__
Net movement in		funds		63,336	614,256	677,592
for the year
Total funds at 1 April 2019				45,423	2,901,382	2,946,805
				__	__	__
Total funds at 31 March				108,759	3,515,63	3,624,39
2020					8	7

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

All of the activities of the group in the current year are classed as continuing.

The group has no recognised gains or losses other than the results for the year as set out above.

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Consolidated Balance Sheet

	Not		2021		2020
	e
		£	£	£	£
Fixed assets
Property, plant & equipment	11	1,378,593		1,452,826
Investments	13	56,604		46,093
			1,435,19		1,498,91
			7		9
Current assets
Receivables	14	595,167		348,797
Investments	13	5,389		5,321
Cash and cash equivalents	15	2,989,691		2,124,636
		3,590,247		2,478,754
Payables: amounts falling
due
within one year	16	(436,535)		(353,276)
			3,153,71		2,125,47
Net current assets			2		8
			4,588,90		3,624,39
Net Assets			9		7
Funds
Unrestricted funds
General funds	20	3,143,616		2,300,434
Designated funds	20	839,017		839,017
Revaluation fund	20	386,766		376,187
			4,369,39		3,515,63
			9		8
Restricted funds		20	219,510		108,759
			4,588,90		3,624,39
			9		7

The financial statements have been prepared in accordance with the special provisions of Part 15 of the

Companies Act 2006 relating to small companies.

These financial statements were approved and authorised for issue by the Trustees on ………………….

and are signed on their behalf by:

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Consolidated Balance Sheet

……………………………………………………….. ………………………………………………………..

M Smythe – Chair Chair of Trustees

J Owen - Treasurer

Registration number : 1182060

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Charitable Company Balance Sheet

Not e £ Fixed assets Property, plant & equipment 12 Current assets Receivables 14 592,079 Cash and cash equivalents 15 2,918,20 9 3,510,28 8 Payables: amounts falling due within one year 16 (445,950 ) Net current assets Net assets Funds Unrestricted funds General funds 20 3,014,37 0 Designated funds 20 434,322 Revaluation fund 20 174,222 Restricted funds 20	2021 £ 778,086 3,064,33 8 3,842,42 4 3,622,91 4 219,510 3,842,42 4	£ 348,272 2,067,385 2,415,657 (356,638) 2,192,693 434,322 174,222	2020 £ 850,977 2,059,01 9
			2,909,99 6
			2,801,23 7 108,759
			2,909,99 6

The financial statements have been prepared in accordance with the special provisions of Part 15 of the

Companies Act 2006 relating to small companies.

These financial statements were approved and authorised for issue by the Trustees on ………………….

and are signed on their behalf by:

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Charitable Company Balance Sheet

……………………………………………………….. ………………………………………………………..

M Smythe – Chair Chair of Trustees

J Owen - Treasurer

Registration number : 1182060

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Consolidated Statement of Cash Flows at 31 March 2021

Note Cash fows from operating activities Net income for the year Adjustments for: (Gains)/losses on revaluation of investments 20 Depreciation 7 Increase in receivables Interest Income 2 Increase in payables Cash fows generated from operating activities Interest Income 2 Purchase of property plant and equipment 11 Cash fows generated from investing activities Cash fows generated from fnancing activities Net increase in cash and cash equivalents Cash at the beginning of the year Cash at the end of the year 15	2021 £ 964,51 2 (10,579 ) 111,55 0 (246,37 0) (300) 83,259 902,07 2 300 (37,317 ) (37,017 ) - 865,05 5 2,124,6 36 2,989,6 91	2020 £ 677,592 3,429 115,381 (17,406) - 176,463
		955,459
		(115,76 9) (115,76 9) - 839,690 1,284,94 6
		2,124,63 6

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

1 Voluntary income

Notes to the Financial Statements

Gift Aid receipts	Restricted Unrestrict ed Total 2021 Total 2020 £ £ £ £ 1,173 - 1,173 2,157
	1,173 - 1,173 2,157

In addition to the above, a number of donations of furniture, food, toiletries and vouchers were received during the year. The total value of these is estimated to have been around £1,400 (2020: £1,200). We would like to thank all those who have given donations to us.

2 Investment income

Fixed term deposits and bank account interest	Restricted Unrestrict ed Total 2021 Total 2020 £ £ £ £ - 300 300 1,082
	- 300 300 1,082

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

3 Income from charitable activities

	Restricted	Unrestrict	Total	Total
		ed	2021	2020
	£	£	£	£
Supported accommodation
Rental income			5,923,78
	-	5,923,783	3	5,123,886
Bedford Borough Council
( Supporting
People) & Central Beds
Council	-	66,663	66,663	72,015
Places for People	-	147,204	147,204	74,233
			-------------------------------------
	--------------------------------------------	--------------------------------------------	-------	--------------------------------------------
			6,137,65
	-	6,137,650	0	5,270,134
	===============	===============	==============	===============
	===============	===============	==============	===============
	===============	===============	==============	===============
	=	=	====	=
Other grants
Mobile Night Shelter	-	-	-	5,150
Veterans projects	19,899	-	19,899	60,500
Nationwide Charities Trust	145	-	145	32,134
Wellingborough Land Aid	36,000	-	36,000	-
Mental Health Projects	64,206	-	64,206	-
Other charitable grants – other
projects	19,184	2,955	22,139	32,759
			------------------------------------
	--------------------------------------------	----------------------------------------------	--------	--------------------------------------------
	139,434	2,955	142,389	130,543
	==============	==============	=============	==============
	==============	==============	=============	==============
	==============	==============	=============	==============
	====	====	=======	======

4 Net income from charitable trading activities of subsidiary

Net income from charitable trading activities of subsidiary
The charity controls a subsidiary charity, Charlotte	Beaty’s Almshouses, a
registered charity in England and Wales (1049099). The charity does not have
share capital.
A summary of the results of the trading subsidiary Charlotte Beaty’s Almshouses
(Registered Charity No. 1049099) is set out below:
	2021	2020
	£	£
Income from	23,587	24,378
Expenditure on charitable activities	(2,082)	(7,814)

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

Net Income Gains / (losses) on revaluation of investments Gains / (losses) on revaluation of fxed assets Total funds brought forward Total funds carried forward 5 Total expenditure Supported accommodation Education & Employment Other activities & projects £ £ £ Cost directly allocated to activities Direct staf costs charitable activities 900,854 - 596,344 Advertising and other costs - - - Recruitment and other staf costs 94,274 - 11,542 Premises costs 2,628,81 4 - 60,350 Project running costs 247,510 - 1,544 Ofice running costs 70,390 - 20,640 Supporting costs allocated to activities Support staf costs 292,787 - 193,818 Project running costs 30,190 - 30,190 Ofice running costs 70,390 - 20,640 Legal and professional - - 48,924 Finance costs - - 1,750 - - Total Expenditure 4,335, 209 - 985,74 2		21,505 16,564 10,579 - (3,429) - 714,400 701,265 746,484 714,400 Costs of generating voluntary income 2021 2020 £ £ £ - 1,497,1 98 1,241,40 9 6,628 6,628 - - 105,816 100,613 - 2,689,1 64 2,384,48 0 - 249,054 169,294 - 91,030 76,110 - 486,605 486,608 - 60,380 147,293 - 91,030 76,110 - 48,924 39,384 - 1,750 1,594 6,628 5,327, 579 4,722,8 95
		Costs of generating voluntary income £ - 6,628 - - - - - - - - - 6,628

Support costs are allocated to each activity based pro-rata to the staff costs directly incurred by that activity.

Taxation

The charitable group is exempt from corporation tax as all its income is applied to charitable purposes.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

(continued)
7 Net income / (expenditure) This is stated after charging: Depreciation - owned assets Auditors' remuneration - Audit Operating leases	202 1 2020 £ £ 111,550 115,380 8,500 7,500
	2,068,41 0 1,730,494

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

Staff costs

Staff costs were as follows:

Salaries National insurance costs Pension costs Temporary staf	2021 £ 1,538,25 9 116,522 62,317 266,706 1,983,80 4	2020 £ 1,463,691 112,132 57,900 94,291 1,728,01 4

There was 1 employee who earned more than £60,000 during the year (2020: one).

The above pension costs relate to a defined contribution pension scheme operated by the charity. The assets of the scheme are held separately from those of the charity in an independently administered fund. There are £12,306 (2020 : £9,459) unpaid contributions outstanding at the year end.

The average weekly number of employees (full time equivalents) during the year was as follows

was as follows
Supported accommodation Administration	2021	2020

	66	64
	14	12
	80	76

No volunteers were used in the year ended 31 March 2021 or 31 March 2020.

There is 1 employee who is considered to be key management personnel. The total remuneration paid to key management personnel for the year was £62,032 (2020: £61,583).

9 Trustees remuneration and expenses

The Trustees did not receive any emoluments or expenses during the year (2020: £nil).

During the year, Amicus Trust Limited did not have Trustee Indemnity insurance.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

10 Related party transactio

Notes to the Financial Statements

(continued)

The charitable company and the group has taken advantage of the exemption available according to Section 33 ‘Related party disclosures’ not to disclose transactions entered into between members of a group that are wholly owned.

In August 2020, The chair of the Trust purchased face masks at a cost of £329.70 to help protect front line staff in the face of the COVID 19 pandemic. This was an arm’s length transaction and there were no outstanding balances at year end.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

11 Group tangible fixed assets

Notes to the Financial Statements (continued)

						Furniture	Furniture
		Freehold				and		Computer
		propertie		Leasehold		equipmen		equipmen
		s		property		t		t		Vehicles		Total
		£		£		£		£		£		£
Cost	or
valuation
At 1 April
2020		1,275,000		74,772		419,994		108,374		64,020		1,942,160
Additions		-		-		30,634		6,683		-		37,317
Disposals		-		-		-		-		-		-
Revaluation		-		-		-		-		-		-
												--------------------------------------
		----------------------------------------------		----------------------------------------------		--------------------------------------		----------------------------------------------		----------------------------------------------		--------
At 31 March
2021		1,275,000		74,772		450,628		115,057		64,020		1,979,477
		=============		=============				=============		=============		=============
	===============		===============			=============	===============		===============		===============
	===============		===============		===============		===============		===============		===============
		===		===		============		===		===		===
Depreciation
At 1 April
2020		-		74,772		272,865		78,664		63,033		489,334
Charge for the
year		-		-		91,706		18,857		987		111,550
On disposals		-		-				-		-		-
						--------------------------------------				--------------------------------------		--------------------------------------
		-------------------------------		-------------------------------		--------		------------------------------------		--------		--------
At 31 March
2021		-		74,772		364,571		97,521		64,020		600,884
						=============				=============		=============
		=============		=============		=============		=============		=============		=============
		=============		=============		=============		=============		=============		=============
		=====		=====		=======		==========		=======		=======
Net book value
At 31 March		1,275,00										1,378,59
2021		0		-		86,057		17,536		-		3
		============		============						============		============
		=============		=============		============		============		=============		=============
		=============		=============		=============		=============		=============		=============
		========		========		===========		===========		========		========
At 31 March		1,275,00										1,452,82
2020		0		-		147,129		29,710		987		6
		============		============						============		============
		=============		=============		============		============		=============		=============
		=============		=============		=============		=============		=============		=============
		========		========		===========		===========		========		========

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

The Group freehold properties have a total historic cost of £910,778. The Trustees obtain an independent revaluation by an appropriately qualified person every 3-4 years. The properties were last revalued as at 31 March 2019 and the revaluation is reflected in the financial statements.

For the years in between, the Trustees perform a review of the valuation to ensure that there are no significant changes. The Trustees consider changes in the prices of local property through review of national property websites.

Tangible fixed assets held under finance leases had a net book value of £NIL (2020: £NIL), with depreciation in the year of £NIL (2020: £NIL) charged.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

12 Charitable company property, plant and equipment

						Furnitur
				Improvem		e
		Freehold		ents to		and	Computer
		propertie		leasehold		equipme	equipmen
		s		property		nt	t		Vehicles		Total
		£		£		£	£		£		£
Cost	or
valuation
At 1 April
2020		675,000		74,772		416,639	108,374		64,020		1,338,805
Additions		-		-		30,634	6,683		-		37,317
Disposals		-		-		-	-		-		-
Revaluation		-		-		-	-		-		-
		--------------------------------------		------------------------------------------		----------------------------------	--------------------------------------				--------------------------------------
		--------		----		------------	--------		--------------------------------------		--------
At 31 March		675,000		74,772
2021						447,273	115,057		64,0201,376,122
		=============				============	=============				=============
	===============			===============	============== ===============				=============	===============
	===============		=================		============== ===============			===============		===============
		===	==============			======	===		============		===
Depreciation
At 1 April
2020		-		74,772		271,35978,664			63,033		487,828
Charge for the
year		-		-	90,364		18,857		987		110,208
On disposals		-		-	-		-		-		-
					--------------------------------------				--------------------------------------		--------------------------------------
		-------------------------------		-------------------------------		--------	------------------------------------		--------		--------
At 31 March
2021		-		74,772	361,723		97,521		64,020		598,036
					=============				=============		=============
		=============		=============	=============		=============		=============		=============
		=============		=============	=============		=============		=============		=============
		=====		=====		=======	==========		=======		=======
Net book value
At 31 March
2021		675,000		-		85,550	17,536		-		778,086
		============		============					============		============
		=============		=============		============	============		=============		=============
		=============		=============	=============		=============		=============		=============
		========		========		===========	===========		========		========
At 31 March
2020		675,000		-		145,280	29,710		987		850,977
		============		============					============		============
		=============		=============		============	============		=============		=============
		=============		=============	=============		=============		=============		=============
		========		========		===========	===========		========		========

The Charity freehold properties have a historic cost of £192,778 as at 31 August 2007 and £308,000 as at 31 July 2015. The Trustees obtain an independent revaluation by an appropriately qualified person every 3-4 years. The valuation is based on an open market basis. The properties were last revalued as at 31

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

March 2019 and the revaluation is reflected in the financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

13 Group Investments

	Fixed	Current
	asset	asset
	investme	investme
	nts	nts
Listed investments	£	£
At 1 April 2020	46,093	5,321
Revaluation	10,511	68
At 31 March 2021	56,604	5,389

The investments relate to the charitable subsidiary only. (Refer to note 4)

14 Receivables: amounts falling due within one year

Trade receivables Prepayments and accrued income Other Debtors	Group 2021 £ 555,378 18,490 21,299 595,167	2020 £ 328,368 20,429 - 348,797	Charitable company 2021 2020 £ £ 552,290 327,726 18,490 20,429 21,299 117 592,079 348,272

15 Cash and cash equivalents

	Group	Group	Charitable Company	Charitable Company	Charitable Company
	2021	2020	2021		2020
	£	£		£
Cash at bank	2,989,	2,124,63	2,918,2 2,067,3
	691	6		09	85
Payables: amounts falling due within one year
		Group		Charitable
				company
		2021	2020	2021	2020
		£	£	£	£
Trade payables		241,253	177,366	241,433	176,923
Accruals		182,782	166,255	181,804	165,277
Other creditors		12,500	9,655	22,713	14,438
		436,535	353,276	445,950	356,638

16 Payables: amounts falling due within one year

Amicu5 Trust Lirnited IA comparhy limited by guarantee) Financial statements for the year ended 31 March 2021 38 Notes to the Financial Statements (continued)

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

17 Status

The company is limited by guarantee and therefore has no share capital. The company is a registered charity, number 268639. Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he/she is a member, or within a year after he/she ceases to be a member, for payment of the debts and liabilities of the Association contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding £1.

18 Analysis of net assets between funds

Group		General	Designat	Restricted	Total	Total funds
		Funds	ed	funds	funds	2020
		(including	Funds		2021
		revaluation
		reserve)
			£	£	£	£
Tangible	fxed	1,030,502	404,695		1,435,19
assets				-	7	1,498,919
Current assets		2,936,415	434,322		3,590,24
				219,510	7	2,478,754
Current liabilities		(436,535)	-		(436,535
				-	)	(353,276)
		--------------------------------------------------------------------------		--------------------------------------------	--------------------------------------
			---------	--	--------	----------------------------------------------
		3,530,382	839,017		4,588,90	3,624,39
				219,510	9	7
		================= =============			==============	==============
		================= =============		================	==============	==============
		============ =============		================	==============	==============
			=======	==============	====	====
Charitable Company		General	Designat	Restricted	Total	Total funds
		Funds	ed	funds	funds	2020
		(including	Funds		2021
		revaluation
		reserve)
			£	£	£	£
Tangible	fxed	778,086	-	-
assets					778,086	850,977
Current assets		2,856,456	434,322	219,510	3,510,288	2,415,657
Current liabilities		(445,950)	-	-	(445,950)	(356,638)
		---------------------------------------------- -----------------------------------------		---------------------------------------------	-----------------------------------------	----------------------------------------------
			-----	-	-----
		3,188,592	434,322	219,510	3,842,424	2,909,996

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

			=================	==============	==============		==============	==============
			=================	==============		================	==============	==============
			============	==============		================	==============	==============
					====	==============	====	====
19	Comparative analysis of net assets between funds
	Group		General		Designat	Restricted	Total	Total funds
			Funds		ed	funds	funds	2019
			(including		Funds		2020
			revaluation
			reserve)
					£	£	£	£
	Tangible	fxed	1,093,492		404,695		1,498,91
	assets					732	9	1,502,019
	Current assets		1,936,405		434,322		2,478,75
						108,027	4	1,621,599
	Current liabilities		(353,276)		-		(353,276
						-	)	(176,513)
			--------------------------------------------------------------------------			--------------------------------------------	--------------------------------------
					---------	--	--------	----------------------------------------------
			2,676,621		839,017		3,624,39	2,946,80
						108,759	7	5
			================= =============				==============	==============
			================= =============			================	==============	==============
			============ =============			================	==============	==============
					=======	==============	====	====
	Charitable Company		General		Designat	Restricted	Total	Total funds
			Funds		ed	funds	funds	2019
			(including		Funds		2020
			revaluation
			reserve)
					£	£	£	£
	Tangible	fxed	850,245		-	732
	assets						850,977	849,247
	Current assets		1,873,308		434,322	108,027	2,415,657	1,571,967
	Current liabilities		(356,638)		-	-	(356,638)	(175,673)
			----------------------------------------------	-----------------------------------------		---------------------------------------------	-----------------------------------------	----------------------------------------------
					-----	-	-----
			2,366,915		434,322	108,759	2,909,996	2,245,541
			=================	==============			==============	==============
			=================	==============		================	==============	==============
			============	==============		================	==============	==============
					====	==============	====	====

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

20 Movement in funds

Group	At				At
	1 April	Income	Expenditure	Transfers	31
	2020				March
					2021
	£	£	£	£	£
Restricted funds
Accom. Fund - The		-
Bridge	200		-	-	200
Turvey Abbey	8,017	-	-	-	8,017
Sobell Resettlement	144	-	-	-	144
Wellingborough Land Aid	-	36,000	(588)	-	35,412
Northampton Mental		44,206
Health	32,134		-	-	76,340
Tesco Groundwork Fund	-	3,120	-	-	3,120
Mental Health – South	-	20,000	(7)	-	19,993
Nationwide Xmas		145
Donations	334		-	-	479
Donations received – gift		1,173
aid	4,917		-	-	6,090
Turvey Abbey Xmas		2,500
donation	4,000		-	-	6,500
PPE Funds	-	13,564	-	-	13,564
Haradean Trust Life		-
Skills	5,000		-	-	5,000
		----------------------		----------------------	----------------------
	-----------------------	-	-----------------------	-	-
	54,746	120,708	(595)	-	174,859
Mobile Night Shelter
Funds
Central Beds Council	252	-	(252)	-	-
Blunham Parish Trust	150	-	-	-	150
Garfeld Weston	4,261	-	(64)	-	4,197
Foundation
Old Wixam Tree Trust	2,291	-	-	-	2,291
		----------------------		--------------------------------------------
	-----------------------	-	-----------------------		-
Sub-Total Mobile Night
Shelter	6,954	-	(316)	-	6,638
Veterans Project
Farnborough Garrison	2,893	-	-	-	2,893
Fund
B L Robinson Trust	167	-	-	-	167
ABF The Soldiers Charity	12,969	-	(661)	-	12,308
Cublington Veterans fund	14,430	-	-		14,430
Veteren Mental Health	5,000	-	-	-	5,000
RAF Henlow Donation	432	-	-	-	432

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

(continued)
Corby Garrison Veterens	250	-	(250)	-	-
The Harpur Trust	8,418	19,899	(28,034)	-	283
					-----------------
	----------------------	----------------------	----------------------	----------------------	-----
Sub –Total Veterans	44,559	19,899	(28,945)	-	35,513
Project
Wixamtree / Sandy	2,500	-	-	-	2,500
Baptist Ch.
					-----------------
	---------------------	---------------------	---------------------	---------------------	----
Total Restricted Funds	108,759	140,607	(29,856)	-	219,510
		-----------------	------------------	-----------------	-----------------
	-----------------------	------	-------	------	------

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

20 Movement in funds (continued)

Group			At				Gains on
			1 April	Income	Expenditu	Transfers	revaluatio	At
			2020		re		n of	31
			£	£		£	Investmen	March
					£		ts	2021
							£	£
Unrestricted funds
General funds				6,140,434	(5,297,252			3,143,61
			2,300,434		)	-	-	6
Revaluation	fund		376,187	-	-	-	10,579	386,766
Designated	Charlotte
Beatty property			404,695	-	-	-	-	404,695
Designated		Bus.		-
Transition fund			300,000		-	-	-	300,000
Designated	maintenance			-
fund			30,000		-	-	-	30,000
Designated	mini	bus		-
fund			4,322		-	-	-	4,322
Designated	property			-
fund			100,000		-	-	-	100,000
			------------------	---------------------	---------------------	---------------------	---------------------	----------------
			----	-	----	----	--	------
Total	unrestricted		3,515,63	6,140,43	(5,297,25			4,369,39
funds			8	4	2)		10,579	9
			----------------		--------------------	--------------------	---------------------	---------------
			----	---------------------	-	-	--	-----
Total funds			3,624,39	6,281,04	(5,327,10			4,588,90
			7	1	8)		10,579	9
				==============				==============
			===============	==============	==============	==============	==============	==============
			===============	==============	==============	==============	==============	==============
			===============	==============	==============	==============	==============	==============
			===============	=====	=============	=============	==============	====

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

20 Movement in funds (continued)

Charity	At				At
	1 April	Income	Expenditure		31
	2020			Transfers	March
					2021
	£	£	£	£	£
Restricted funds
Accom. Fund - The		-
Bridge	200		-	-	200
Turvey Abbey	8,017	-	-	-	8,017
Sobell Resettlement	144	-	-	-	144
Wellingborough Land Aid	-	36,000	(588)	-	35,412
Northampton Mental		44,206
Health	32,134		-	-	76,340
Tesco Groundwork Fund	-	3,120	-	-	3,120
Mental Health – South	-	20,000	(7)	-	19,993
Nationwide Xmas		145
Donations	334		-	-	479
Donations received – gift		1,173
aid	4,917		-	-	6,090
Turvey Abbey Xmas		2,500
donation	4,000		-	-	6,500
PPE Funds	-	13,564	-	-	13,564
Haradean Trust Life		-
Skills	5,000		-	-	5,000
		----------------------		----------------------	----------------------
	-----------------------	-	-----------------------	-	-
	54,746	120,708	(595)	-	174,859
Mobile Night Shelter
Funds
Central Beds Council	252	-	(252)	-	-
Blunham Parish Trust	150	-	-	-	150
Garfeld Weston	4,261	-	(64)	-	4,197
Foundation
Old Wixam Tree Trust	2,291	-	-	-	2,291
		----------------------		--------------------------------------------
	-----------------------	-	-----------------------		-
Sub-Total Mobile Night
Shelter	6,954	-	(316)	-	6,638
Veterans Project
Farnborough Garrison	2,893	-	-	-	2,893
Fund
B L Robinson Trust	167	-	-	-	167

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

	(continued)	(continued)	(continued)
	ABF The Soldiers Charity				12,969	-	(661)	-	12,308
	Cublington Veterans		fund		14,430	-	-		14,430
	Veteren Mental	Health			5,000	-	-	-	5,000
	RAF Henlow Donation				432	-	-	-	432
	Corby Garrison	Veterens			250	-	(250)	-	-
	The Harpur Trust				8,418	19,899	(28,034)	-	283
									-----------------
				----------------------		----------------------	----------------------	----------------------	-----
	Sub –Total Veterans				44,559	19,899	(28,945)	-	35,513
	Project
	Wixamtree / Sandy				2,500	-	-	-	2,500
	Baptist Ch.
									-----------------
				---------------------		---------------------	---------------------	---------------------	----
	Total Restricted Funds			108,759		140,607	(29,856)	-	219,510
						-----------------	------------------	-----------------	-----------------
				-----------------------		------	-------	------	------
20	Movement in funds (continued)
	Charity				At				At
				1	April	Income	Expenditure		31
					2020			Transfers	March
					£	£	£		2021
								£	£
	Unrestricted funds
	General funds			2,192,693		6,117,788	(5,296,111)	-	3,014,370
	Revaluation fund			174,222		-	-	-	174,222
	Designated		Bus.			-
	Transition fund			300,000			-	-	300,000
	Designated maintenance					-
	fund				30,000		-	-	30,000
	Designated mini		bus			-
	fund				4,322		-	-	4,322
	Designated	property				-
	fund			100,000			-	-	100,000
				------------------			------------------------	----------------------	-----------------
					-----	----------------------	-	-	------
	Total unrestricted					6,117,788	(5,296,111		3,622,91
	funds			2,801,237			)	-	4
				-----------------		----------------------		----------------------	---------------
				----		-	-----------------------	-	------
	Total funds					6,258,395	(5,325,967		3,842,42
				2,909,996			)	-	4
						===============
				================		===============	================	===============	===============
				================		===============	================	===============	===============
				================		===============	================	===============	===============
				============		==	=======	===========	===============

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

21 Purposes of funds

Wellingborough Land Aid

In March 2021 £36k was received to help with a project in Wellingborough in High Street. This is to cover building works required.

Accommodation Fund - The Bridge

This fund was established from receipt of donated fixed assets, transfers from the funds of Bedford Methodist Outreach and donations from individuals for the benefit of The Bridge. The balance is set aside for future accommodation expenditure.

Turvey Abbey

This fund was established for Income given specifically by the nuns at the Priory of Our Lady of Peace at Turvey Abbey. The funds are for the benefit of the residents of Perkins House. A further donation of £2,500 was received at Xmas 2018 to again benefit the residents of Perkins House.

Sobell Resettlement Fund

These funds were given specifically to help residents who are being resettled to acquire basic white goods for their new accommodation.

Nationwide Charities Trust

A donation of £32k was given to the trust specifically to fund Mental Health advisors and support within the Northampton project

Nationwide Xmas Donation

The Bedford branch of the Nationwide provided a donation to fund xmas food for the Bedford residents.

Haradean Life Skills

Haradean trust donated £5k to help Amicus develop life skills for its residents.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

Purposes of funds (continued)

Mental Health Funding

Garfield Weston Foundation are providing funds to support our Mental Health workers. An additional £44.2k was provided for Northamptonshire mental health support and a further £20k for our South projects.

PPE Funds

At the start of the Covid pandemic in March 2020, PPE grants were made to Amicus Trust by Crisis UK and the Leicestershire and Rutland Community Foundation.

Mobile Night Shelter Funds

Our bus based service which drives around Bedfordshire at night, supporting rough sleepers has the capacity to provide shelter for up to 8 rough sleepers at any one time. The objective is to get as many rough sleepers as possible onto the path to supported accommodation. Various charities have given funds towards the costs of this project. Our heartfelt thanks go to all of them in enabling the project to continue and become a real success.

Garfield Weston Foundation

Provided funds in July 2017 towards the revenue costs for the Night Owl bus.

Blunham Parish Church

Provided funds in January 2020 towards the revenue costs for the Night Owl bus

Old Wixam Tree Trust

Provided funds in November 2017 towards the revenue costs of the Night Owl bus

Tesco Groundwork Funds

Funds have been received from Tesco to help residents have outdoor activities, ie gardening.

Veterans Project

In 2014 we piloted a veterans project, providing accommodation and support for 3 veterans, followed by the creation of Heroes House in 2015 which accommodated a further 9. In 2016 we expanded in Bedfordshire, Buckinghamshire, Northamptonshire and Leicestershire providing support and accommodation for a further 60 plus homeless veterans.

Cublington Veteran’s Project

Have provided funds for a Horticultural Project at Cublington

ABF Soldiers Charity

Provided an additional £20,000 during the year to ensure security within the veterans projects.

Farnborough and Corby Garrisons

These garrisons have provided £3,250 towards funding support for the veteran’s

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements

(continued)

we look after.

Veterens Mental Health

Austin & Hope Pilkington Trust provided a donation towards the salary cost for veterans mental health.

The Harpur Trust

Provides funds towards the salary cost of our Mental Health lead. Additional £19.9k received in 20/21.

21 Purposes of funds (continued)

General Revaluation Fund

This fund relates to the revaluation of properties owned and also investment funds.

Designated Charlotte Beaty Property Fund

This fund was set up in 2014 when the charitable company took control of Charlotte Beaty’s Almshouses for the purpose of showing the amount by which the properties have previously been revalued.

Designated Business Transition Fund

This fund was set up in 2013 to support the need to diversify Amicus Trust Limited’s funding and reduce its reliance on funding from Supporting People.

Designated Maintenance Fund

This fund was started in 2005 for the purpose of setting aside fund to help cover the costs of dilapidation on leased properties at the end of the lease.

Designated Mini Bus Fund

This fund was started in 2006. The aim of this fund is to purchase a Mini-bus which would be used to transport residents and their belongings between sites and when they are resettled. It would also be used to transport residents to activities that are not within walking distance.

Designated Property Fund

This fund was set up in 2015 for the purpose of setting aside funds to purchase new properties and for the set up costs of leasing new properties.

22
Other financial commitments

At 31 March 2021 the group and the charitable company was committed to make the following payments during the next year in respect of operating leases:

2020

2021

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

(continued)
Leases which expire: Within one year Within two to fve years More than fve years	£	£


	2,207,5 32	1,956,2 01
	7,183,0 02	6,972,5 76
	5,052,2 44	6,599,5 88
	14,442, 778	15,528, 365

23 Contingent liabilities

There were no contingent liabilities as at 31 March 2021 or 31 March 2020.

24 Capital commitments

There is a commitment of the trust at 31[st] March 2021 (2020: same commitment) to upgrade certain properties with capital expenditure. This will be done in partnership with the Trust’s principal landlord Places for People. Key plans are upgrading a lot of fire doors within many properties.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

25 Financial Instruments

Group

FINANCIAL ASSETS Cash and cash equivalents Financial assets that are debt instruments measured at amortised cost FINANCIAL LIABILITIES Financial liabilities measured at amortised cost	2021	2020
		£

	2,989, 691	2,124,6 36
	555,37	328,36 8
	3,545, 069	2,453,0 04


	436,53	353,27 6
	436,53	353,27 6

Financial assets measured at amortised cost comprise of trade debtors.

Financial liabilities measured at amortised cost comprise trade creditors, other creditors, and accruals.

Charity

FINANCIAL ASSETS Cash and cash equivalents Financial assets that are debt instruments measured at amortised cost FINANCIAL LIABILITIES Financial liabilities measured at amortised cost	2021	2020
		£

	2,918, 209	2,067,3 85
	552,28	327,72 6
	3,470, 498	2,395,1 11


	445,95	356,63 8
	445,95	356,63 8

Financial assets measured at amortised cost comprise of trade debtors.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2021

Notes to the Financial Statements (continued)

Financial liabilities measured at amortised cost comprise trade creditors, other creditors, and accruals.

26 Control

The Board of Trustees are the controlling party.

27 Subsequent events

In the summer of 2021 Amicus Trust signed a lease with Bedford Borough Council for a new Head Office premises in Midland Road, Bedford. It is anticipated that Head Office staff will move to the new premises in the winter of 21/22.

Annual Report & Consolidated Financial Statements

For the year ended 31 March 2021

Company information

Contents page to the financial statements

REPORT OF THE TRUSTEES

REFERENCE AND ADMINISTRATIVE DETAILS

The trustees

Organisation

Risk management

OBJECTIVES AND ACTIVITIES

Purpose and aim

Ensuring our work delivers our aims

The focus of our work

How our activities deliver public benefit

ACHIEVEMENTS AND PERFORMANCE

Education and employment services

Supported accommodation

Night Owl Project

Alms Houses

FINANCIAL REVIEW

Reserves policy

Income and expenditure

Capital commitment

Investment powers

Impact of the outbreak of COVID-19 on the financial statements

PLANS FOR FUTURE PERIODS

Statement of trustees' responsibilities

Auditor

Small Company Provisions

Independent auditor’s report to the members of Amicus Trust Limited

Opinion

Basis of opinion

Comments relating to a going concern

Other Information

Matters on which we are required to report by exception

Responsibilities of Trustees

Auditors responsibilities for the audit of the financial statements

PRINCIPAL ACCOUNTING POLICIES

GENERAL INFORMATION

ACCOUNTING POLICIES

Accounting convention

Going Concern

Basis of consolidation

Income

Donations and gifts

Rental income

Investment income

Grants

Expenditure

Tangible fixed assets

Pensions

Unrestricted funds

Designated funds

Restricted funds

Investments

Debtors

Cash and cash equivalents

Creditors

Financial instruments

Judgements in applying accounting policies and key sources of estimation uncertainty

Consolidated statement of Financial Activities (including income and expenditure account)

Consolidated statement of Financial Activities (including income and expenditure account)

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

Consolidated Balance Sheet

Consolidated Balance Sheet

Charitable Company Balance Sheet

Charitable Company Balance Sheet

Consolidated Statement of Cash Flows at 31 March 2021

Notes to the Financial Statements

Notes to the Financial Statements

(continued)

Notes to the Financial Statements (continued)

Taxation

Notes to the Financial Statements

(continued)

Notes to the Financial Statements (continued)

Notes to the Financial Statements

(continued)