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2021-03-31-accounts

Guideposts Trust Limited

Company Number: 01282361 Charity Number: 272619

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Accounts

for the year ended 31st March 2021

Wenn Townsend

Chartered Accountants

Oxford

Guideposts Trust Limited

Index

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Page No 1 Reference and Administrative Information 2 - 12 Trustees’ Report 13 - 14 Auditors’ Report 15 Statement of Financial Activities 16 Balance Sheet 17 Cash Flow Statement 18 – 29 Notes to the Accounts

Guideposts Trust Limited

Reference and administrative information

31st March 2021
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Charity number 272619
Company number 01282361
Address Unit E
Two Rivers Industrial Estate
Station Lane
Witney
Oxon
OX28 4BH
Bankers HSBC Bank plc
Witney Branch
24 Market Square
Witney
Oxfordshire
OX28 6BG
Auditors Wenn Townsend
Chartered Accountants
30 St Giles’
Oxford
OX1 3LE
Company Secretary Nicole Rolston
Directors/Trustees Dr Catherine Oppenheimer
Diana Billingham
James Bradshaw
Alex Curtis
Matthew Jones
Major Peter Smith
Matthew Taylor
Deborah Cohen
Mariam Ahmed

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021

Introduction

Guideposts Trust (‘Guideposts’) is a mental health and wellbeing charity, started in the early 1970’s by two Witney Methodists, who wanted to help put their beliefs into action.

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Purpose

Our purpose is to support people living with mental health problems, disability, or caring responsibilities to have a better quality of life by enabling them to strengthen their emotional wellbeing and be a part of their local communities.

Vision

Our vision is social inclusion and wellbeing for all.

Our work

The Charity supports people living with long-term conditions, disability, or caring responsibilities to improve their mental health and wellbeing and feel included in their local communities.

Set up in Witney, Oxfordshire, the Charity provides community-based in person services across Gloucestershire, Hertfordshire and Oxfordshire alongside an online and telephone provision which allow people to connect to support from anywhere, regardless of location. Guideposts also runs a dedicated support line which offers emotional help and a social prescribing service.

Our services are designed to help people:

What drives the Charity’s work?

‘We do what we do because the life of each person we support matters. People should not be disadvantaged due to their health conditions, disabilities or caring responsibilities. Everyone deserves the opportunity to fulfil their aspirations and realise their potential. Some need a helping hand, quality care and support to achieve this. If the world was fair, if there was no deprivation, discrimination, with everyone having an equal chance to find acceptance, belonging, positive relationships, meaningful occupation, good education, enriching work, and a safe home – then this Charity wouldn’t exist.’

It’s wrong, but some people simply do not have the same starting point in life as others, they were not born with equal chances to others through no fault of their own.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

The Trustees are pleased to present their report with the audited accounts for the year to 31st March 2021

1 Reference and Administrative Detail

Guideposts Trust Limited is a registered charity and company limited by guarantee incorporated in England and Wales.

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The Trustees who served during the year are listed below:

The company’s Articles of Association require the Trustees to retire by rotation after a three-year term. Matthew Jones, CEO, has been delegated responsibility for the day-to-day management of The Trust.

2 Structure, Governance and Management

Guideposts Trust is constituted under its Memorandum and Articles of Association dated 19 October 1976. The Articles of Association provide that Guideposts Trust may have up to 25 Trustees. At 31 March 2021, there were eight members of the board.

No member of the Board of Trustees has received any remuneration in respect of his or her services to the Trust except for reimbursement of expenses incurred in providing such services.

During 2020/21 the board met 12 times, including an AGM.

Public Benefit

The Trustees have regard of the Charity Commission public benefit guidance. Guideposts Trust demonstrates its public benefit through the provision of community-based services that are operated by its staff. We adopt a collaborative and complementary approach to ensure that vulnerable individuals – often with a range of complex needs and expectations - do not fall through gaps in geographic or specialisation boundaries. We are tackling the causes of loneliness and social isolation, by providing community connectivity, information and advice, group activities, therapies and work-based opportunities.

The Reserves Policy

The Trustees have set a Minimum Level of unrestricted reserves (defined as unrestricted net current assets plus net realisable value of land and buildings) that will be sufficient to cover the costs of up to 12 months management and administration, statutory redundancy and other winding-up costs in the event of Guideposts ceasing to exist. The Minimum Level is £200,000.

The Trustees will maintain this Minimum Level at all times and will not take any decision or carry out any development that might impinge upon the Minimum Level without due consideration.

The priority for 2021/22 will be to maintain and monitor liquid reserves, especially in consideration of potential COVID-19 implications.

Unrestricted net current assets were £1,121,999 at the Balance Sheet date. This is due mainly to a one-off legacy cash receipt of £588,000 during the current year. The Trustees have considered carefully going concern; most particularly meeting short term cash flow needs.

Retained services performed at a surplus of £376,595 in the current year compared to £11,582 in the prior year.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

The Reserves Policy (continued)

The charity is continually reviewing its cost base and reducing costs where possible. The support of the charity’s bank in renewing existing facilities and to secure a bounce back loan has enabled it to meet all operational liabilities without the need to liquidate or make additional borrowings against fixed assets.

The Trustees feel that it is appropriate to prepare the accounts on a going concern basis.

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3 Objectives and Activities

The objects of the Charity are:

Our Challenge

People living with disability or long-term conditions (and their loved ones), have the same needs as everyone else but their circumstances often mean they don’t not have the chance to meet those emotional, social, spiritual and physical needs. Unfortunately, our clients’ complex health conditions can conspire to isolate them and their families from their communities and from the information and support which could change their circumstances. They often fall between the gaps of statutory provision and the limited support that “single-issue” charities can offer. This can place them at risk of isolation and the medical and social effects of loneliness. Guideposts wants to be there for people who need support to achieve their innate human needs and realise their potential. We do this be providing access to support, training and community opportunities.

Our Services:

Guideposts’ physical services are provided in three counties in England and focus on improving people’s health and wellbeing as follows:

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

Our Services (continued):

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During 2020/21 due to COVID-19 restrictions and lockdowns we were not able to partner with our volunteer support to the same extent as when services are fully operational. Around 250 volunteers usually support Guideposts’ work, and we are grateful to them. Our volunteers would assist with delivering thousands of hours of support across 3 Counties providing support to individuals to participate in our friendship schemes, community opportunities, or the provision of support groups, providing back-office support, or serving on the board of Trustees.

We are also enormously grateful to all those individuals, organisations, groups and Trusts who have given so generously over the year or provided practical support.

STRATEGIC REPORT – the following items form the Strategic Report

4 Achievements and Performance

Strategy – Survive the pandemic

The Charity’s strategy of providing community services has been severely tested this year with the global COVID19 pandemic. Lock-down tested the Charity’s operating model as most of its services involve physically meeting. All physical services stopped with lock down. The Charity’s response was twofold:

Existing Services:

Staff and volunteers switched to providing remote services. Such as providing essential goods (food and other household supplies), also emotional support through regular phone calls. Social media was also utilised to provide a community online and ensure people didn’t feel abandoned.

Staff created art and activity packs and sent them through the post to beneficiaries. Even Forest School continued but was conducted by individuals in their own homes - following the lead from the FS leader.

New Services:

The Charity created a community online – a digital service – called ‘Better Connected and Active’. This provided beneficiaries with access to classes, online events, opportunities to meet up with friends and a chance to meet new friends online – all in a safe environment.

It provided a website that contained lots of information and advice about coping in lockdown and links to resources to keep people active.

The digital service worked as a concept. On Christmas day, one volunteer led an online digital photography lesson to 8 beneficiaries, who otherwise would have had an isolated Christmas day. Another member of staff sourced books on narrow boats and would phone one isolated beneficiary on Sunday evenings and read from the books to him.

A magazine was created to give members a physical resource to augment their digital membership. This has proven to be very popular.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

4 Achievements and Performance (continued)

In Summary:

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The Charity survived a year of lockdowns and managing COVID-19. Financially it has benefited from public funding made available for the provision of COVID-19 related interventions. Councils wanted to keep services going and therefore continued to pay during lock-down. The Government furlough scheme was used for some employees, and this helped reduce the cost of maintaining the staffing establishment. The Charity made no COVID-19 related redundancies during this period and is in fact recruiting.

The hard work of the staff team and volunteers during a year of lockdowns and COVID-19 restrictions has improved the reputation of the Charity and has led to more referrals since physical services resumed. Parents/carers have been impressed by the approach to health and safety, whilst keeping services going – in some form.

We were there when people needed us, and this has helped the Charity’s reputation in the areas it operates.

In fact, subsequent to the year-end but still during COVID-19, the Charity grew its market share of LD services in Oxfordshire by successfully tendering for the Chipping Norton day service. This added 19 beneficiaries, 6 staff, a good quality building and a presence in a new part of the County.

Clinical Model:

The Charity seeks to meet the innate human needs of people regardless of their primary care need. This recognises that often a person has more than one challenge to manage in life, for example, there is a high prevalence of mental ill health with people who have a disability. Guideposts takes a strength based, person centred approach, to meeting needs – recognising often the co-morbidity of mental health with physical, or development conditions.

Guideposts has taken on the Human Givens psychological approach. The Human Givens approach identifies a set of innate human needs that drive human behaviour and human’s innate ability to meet such needs (for example the need for meaning in lives).

The model provides the Charity a way to have a dialogue with those it supports and those who commission its services. The model allows impact and progress to be tracked so Guideposts can prove its worth in people’s lives. It also provides a model for staff to increase their skills and be able to cope with the complexity of problems being met.

The Humans Givens –

Humans have 9 essential emotional needs to be met for good mental health

These are:

  1. Security — safe territory and an environment which allows us to develop fully

  2. Attention (to give and receive it) — a form of nutrition

  3. Sense of autonomy and control — having volition to make responsible choices

  4. Feeling part of a wider community

  5. Emotional intimacy — to know that at least one other person accepts us totally for who we are, “warts ‘n’ all”

  6. Privacy — opportunity to reflect and consolidate experience

  7. Sense of status within social groupings

  8. Sense of competence and achievement

  9. Meaning and purpose — which come from being stretched in what we do and think.

Below is a summary of the things that have happened in this busy year:

Innovation

The Charity has had to operate digitally and remotely, away from its usual meeting places. Staff, volunteers and beneficiaries had to learn to use social media, video conferencing and how to collaborate remotely.

It created a website and content dedicated to helping those during the COVID-19 lockdown called ‘Staying Connected’, it was a mix of information and signposting.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

4 Achievements and Performance (continued)

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It created a new digital community service – Better Connected and Active – with live classes, recorded content, socialising and support.

It created a new service designed to support people in their own homes. It is similar to homecare but without providing regulated ‘personal care’. Rather this service provides practical support and befriending. Such as, helping with shopping; sitting keeping a relative company; accompanying someone to go for a walk and practical help with daily living.

The Charity created and implemented its CIVI CRM computer system. This provides a place for tracking the impact it is having on beneficiaries. Also, a place for storing sensitive data needed for emergencies. In addition, it is the first HR system for the Charity, enabling better management of transactional HR processes (booking leave, etc).

Partnerships

This was made harder in lockdown, but the Charity developed a close relationship with Life Path Trust – another Charity and housing provider. This led to the opportunity to add the Chipping Norton day service to the Charity’s portfolio.

An exclusive partnership with Burford Garden Co. has been forged to provide support to the new Outdoor Wellbeing Centre. The Charity is benefitting massively from the support given by this well-known garden company. Already the project has benefitted from the supply of hedging to protect the site, seeds to help produce vegetables and flowers, the use of tools and machinery for the preparation of land. Safari tents to enable respite camping to be offered. Also support for the forest school programme, by way of discounted supplies.

Contract Tendering

The Charity has successfully tendered to be an approved provider to Gloucestershire CC, under their community opportunities framework. It now needs to win new business from this approved list.

Subsequent to year end the Charity has also successfully tendered to be an approved provider to Hertfordshire CC, under their community opportunities framework.

Subsequent to year end the Charity was successful in winning the tender for the Albion day service (Chipping Norton), which is worth about £0.5m over its 3-year length.

The Charity continues to be an approved supplier of services to People Plus. They have the main carers contract for Gloucestershire – the Charity worked with them to secure the award of the service contract and is working with them on development of services for carers.

The contract from Hertfordshire County Council for Guideposts to deliver befriending in Ware has been extended to 31 December 2021 and the mental health services in Watford has been extended to 31 March 2022.

A new grant process will commence in 2021/22 for the provision of be-friending in the Herts County. Mental Health services will be retendered in Herts County in 2022. The Charity is seeking other contract and tendering opportunities.

Award Winners

The Charity has been nominated for the 2021 Mayor’s Charity of the year by the Mayor of Ware and continues to be a joint charity of the year by the Mayor of Witney.

Fixed Asset Strategy

Buildings space requirements changed during lock-down. From not needing space with most activity at home, to gradual and then full physical services resuming. We need more space to socially distance. Therefore, a review of our built environment has been commissioned with the Estate Strategy Group.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

4 Achievements and Performance (continued)

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The following changes have happened:

Staffing

Staff have been amazing during a year of unprecedented challenges. Volunteers declined in numbers and available hours during lockdown. Staff filled the gaps. They all worked hard to carry on supporting vulnerable beneficiaries. They adopted far more intense cleaning regimes and had to grapple with new IT technologies – that affected ways of communicating and doing routine work.

The staff team are stressed and tired and it is important the Charity puts in measures to help them recover. They have kept people from being isolated, from declining in health and ensuring they are supported with medication supplies, food, and company.

The team have been brilliant exponents of the Charity’s values.

NB- Guideposts Trust is committed to equality and to value diversity in our staff. Applications for employment by any person with a protected characteristic are always considered fairly. It is the policy of the charity that all staff are treated equally, with every effort made to ensure that appropriate training is arranged for all. It is our policy that the recruitment, training, career development and promotion of all those with a protected r. characteristic should, as far as possible, be identical with that of other employees. Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of existing employees becoming disabled every effort is made to ensure that their employment with the group continues and that appropriate training is arranged. It is the policy of the Charity that the recruitment, training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees.

Average staff numbers for 2020//21 were 71 compared to 84 for the prior year.

Plans for the future

Remuneration of Key Management Personnel

Remuneration of Key Management Personnel (CEO and General Manager Finance and Operations) is set by the Remuneration Committee, consisting of the Chair and two co-opted trustees. Pay levels are benchmarked against sector averages and taking into account the requirements of the role. These are reviewed annually.

Conclusion

2020-21 has been a year like no other. A global pandemic tested the Charity, but it adapted, survived, continued to provide vital services and has even grown its market share. It has lost some income but had other means to keep its finances strong. Now it is benefiting from an enhanced reputation forged during the lock-down when its staff and volunteers went the extra mile. The biggest challenge going forwards is growth in a sector struggling to recruit enough staff.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

5 Financial Review

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Guideposts reported an operating surplus of £376,595 for the year compared to a net cash break-even target. This result was achieved after accounting for a once off intangible assets impairment charge of £309,081. The increase in the surplus was due to a combination of a number of factors; such as lower overall operating costs due to reduced physical services as a result of COVID-19 lock-downs, general maintenance of service revenue with local authorities continuing to pay on a planned for basis, securing generous Government COVID-19 support and infection control grants and furlough claims, grant support from our partners to ensure we could maintain our staff teams and secure future service provision, generous legacy receipts and a specific once off legacy receipt of £588,000 (of which £255,000 was recognised in the prior year resulting in an additional £333,000 of income in the current year).

Income from Fundraising (net of direct costs of raising funds) came in at £1,128,917 against a £484,000 budget for the year. This was due mainly to legacy receipts of approximately £652,000. Although the average donation received has increased, our donor base has been declining, particularly the number of regular donors. In addition, in line with the restructure of the charity, the portfolio and size of our current projects and services has a direct impact on the number and value of grant applications that can be applied for. In an effort to curb this trend, new work has been taking place to engage new supporters and bring in new donors, focussing via digital marketing and fundraising. We were successful in securing a reasonable number of grants in this period. Much of our grant fundraising work focussed on securing COVID-19 emergency grants to respond to the inevitable changes imposed by the Pandemic. This enabled us to bring in vital funds to adapt our work effectively and continue to support most of our service members/users. It also enabled us to develop new work and lay the foundation for future project/service development, which is key to our ability to continue to attract and increase funding from grants.

Guideposts monitor cash closely and reforecast on a rolling monthly basis and are satisfied that there are sufficient known incoming resources to meet our obligations in the near future. Additional unknown future impacts of 19 on operations remains a risk. Cash flow management remains a critical focus.

Fixed Assets include land, valued at £98,000 and buildings valued at £312,000 at the Balance Sheet date. The buildings are valued at fair value. The SORP requires an annual impairment review of the Intangible Assets. Due to significant uncertainties related to making reliable estimates required to substantiate the intangible values, it was considered prudent to write the intangible values down to zero and a once off impairment charge of £309,081 was incurred in the period.

6 Plans for Future Periods

Guideposts’ business plan is based upon consolidation and local organic growth of services. Plans are based upon the stability of income from our current local government contracts. We are pleased that due to COVID-19 uncertainties, the Hertfordshire County Council contracts were rolled over and extended to periods between December 2021 and March 2022, and are due for review and re-tendering. Being on the approved list of providers for two County Councils will enable us to grow services in these areas. Subsequent to year end we secured a 3 year contract to provide day support services in Chipping Norton to Oxfordshire Country Council.

Guideposts as an enablement partner is planning to do more with the NHS around social prescription and local services focused on GP surgeries. It is involved in an NHS testbed pilot scheme to test alternatives to the current primary care model. We are also in discussions to partner in a NHS Mental Health Complex Emotional Needs support service. We have established a pilot with People Plus to offer an Emotional Wellbeing coaching service for carers which is now resulting in referrals and fee income. A new home support service is in development stage. We continue to grow and develop our digital and remote service capability which has the potential to extend our geographical reach and for further partner development.

Guideposts support a partner charity; Be Free Young Carers. This is a South Oxfordshire charity that supports young carers. There may be a possible closer working relationship, should the opportunity arise. This would make sense as it would diversify our carers’ audience and provide new fundraising opportunities.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

7 Principal Risks and Uncertainties

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Guideposts Risk Management Strategy involves a regular review of the key risks faced by the charity, the establishment of systems and procedures to address those potential risks and mitigate any impact on the charity if they materialise. Guideposts is committed to ensuring that risk in our operations is managed and mitigated by using an integrated risk management system and instigating a proactive culture in managing risk. The integrated approach to risk management takes cognisance of risk management standard BS31100.

Risks that concern the long-term strategic objectives of Guideposts Trust and the actions taken to manage them are as follows:

Financial: the risks to Guideposts financial position, including internal and external factors that may have an effect.

What we do:

Growth: the risks to Guideposts’ strategy for growth and development.

What we do:

Knowledge management: the risks to knowledge resources, and the production and communication of these.

What we do:

Succession planning and talent management : the risks to management infrastructure and staffing framework.

What we do:

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

7 Principal Risks and Uncertainties (continued)

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Compliance:

the risks associated with non-compliance of relevant legislation (for example Health and Safety, data protection, employment practices) and regulation (for example Charities Commission, Care Quality Commission).

What we do:

Fundraising:

the risks associated with poor fundraising practice and the consequential effect on the reputation and sustainability of the charity .

The Charity is reliant on income given voluntarily by supporters. Its supporters are at the heart of everything that we do and achieve. And, because of this, it strives to give the best experience to its supporters and the people it helps.

Guideposts is signed up to the Fundraising Regulators Code of Practice in the UK and it works closely with the Fundraising Regulator and the Institute of Fundraising to help improve sector standards and ensure activity meets the expectations of supporters and the wider public.

As a charity, talking to the public in person and communicating with existing supporters are both key in engaging people and raising vital funds for our work.

Guideposts fundraising and marketing activities are undertaken directly by charity staff, and it doesn’t use professional fundraisers or involve commercial organisations in any of fundraising work.

All communication with supporters is conducted in such way to ensure that they and any members of the public willing to support the Charity gives what they can afford, taking particular care to ensure nobody feels under pressure to contribute.

Supporter’s personal details are stored securely. Supporter’s communication preferences are recorded in their personal file and the Charity only communicates with them in ways they have agreed to. All our marketing materials contain clear details of how to unsubscribe to any future communications. When notified (e.g. by family) of a donor receiving a cognitive impairment diagnosis, going into care, or becoming too infirm to respond to us - then we mark their file on our Donor Database (Donorflex) as “Do Not Approach”.

The Charity is careful not to contact supporters too often. There is a limit on mailings to 3 per year to all active donors on our database (approx. 12,000) and Guideposts are working hard to make sure that supporters feel even more in control of how it communicates to them. Guideposts reminds its audiences of the difference their donations are making to people’s lives, all the vital services it provides and the good it does in society.

Guideposts is constantly working on developing new ways of raising income to continue its life changing work. Although the main reason for doing this is to diversify income, it is also a belief that being more visible in communities will help to raise awareness about Guideposts and the needs of people we support. Local staff and managers regularly organise local engagement and fundraising events in communities where services are delivered.

Although the information being distributed during events may include donation forms, the Charity never aims to recruit donors face to face on the day, letting people take the information home and decide whether or not they wish to make a donation. This helps minimise the risk of inadvertent pressure being placed on potentially vulnerable donors.

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Guideposts Trust Limited

Trustees’ Report for the year ended 31st March 2021 (continued)

7 Principal Risks and Uncertainties (continued)

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A complaints log is maintained and monitored, and the Charity keeps a close eye on the pattern of complaints so improvements to services can be made. Guideposts received no complaints about its fundraising activities this year. As a social care, mental health and disability charity – all staff are highly experienced in working with vulnerable people (e.g., those with learning disability or dementia) and are attuned to the risks.

Trustees’ responsibilities

The Trustees (who are also directors of Guideposts 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 United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which 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 the year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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.

In so far as the Trustees are aware:

Auditors

A resolution to re-appoint Wenn Townsend will be proposed at the forthcoming Annual General Meeting.

Small company exemptions

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

This report was approved by the Trustees on ………………………. 2021

On behalf of the Trustees of the Trust

Diana Billingham Chair

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Guideposts Trust Limited

Independent Auditor’s Report to the members of Guideposts Trust Limited

Opinion

We have audited the financial statements of Guideposts Trust Limited (the ‘charitable company’) for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 Financial Reporting Standard 102 applicable in the United Kingdom and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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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 these 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 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.

Conclusions relating to 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 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees report, other than the financial statements and our auditors report thereon. 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 connections 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 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 of this 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 face.

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 detected material misstatements in the strategic report and the directors 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:

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Guideposts Trust Limited

Independent Auditor’s Report to the members of Guideposts Trust Limited.

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Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 12, the trustees (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 in 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 charitable company’s ability to continue as a going concern, disclosing as applicable all matters related to going concern and using the going concern basis of accounting, unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurances about whether the financial statements as whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes are 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

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.

A further description of our responsibilities for the audit of these financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors/responsibilities. This description forms part of our auditor’s report.

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.

Graham Cole BA, FCA; Senior Statutory Auditor For and on behalf of Wenn Townsend Chartered Accountants and Statutory Auditor 30 St Giles Oxford OX1 3LE

…………………………….. 2021

- 14 -

Guideposts Trust Limited

Statement of Financial Activities (Including income and expenditure) for the year ended 31st March 2021

DRAFT
2021 2021 2021 2020 2020 2020
Note Unrestricted Restricted Total Unrestricted Restricted
Total
Income from:
£		 £ £ £ £ £
Donations and Legacies:
Donations, legacies and other grants 2 1,299,378 74,597 1,373,975 800,173 - 800,173
Raffle Income 1,020 - 1,020 1,161 - 1,161
Charitable Activities:
Grants and contracts for provision
of services 3 479,749 205,094 684,843 499,918 283,234 783,152
Client Fees 454,114 - 454,114 507,163 - 507,163
Other Income 4 5,790 - 5,790 12,718 - 12,718
Total income 2,240,051 279,691 2,519,742 1,821,133 283,234 2,104,367
Expenditure on:
Raising funds:
Raising funds – general 366,248 - 366,248 207,364 - 207,364
Charitable activities:
Community Services & Projects 1,414,968 359,516 1,774,484 1,616,280 263,932 1,880,212
Education and Awareness 2,415 - 2,415 5,209 - 5,209
Total expenditure 8 1,783,631 359,516 2,143,147 1,828,853 263,932 2,092,785
Net income/(expenditure) 5 456,420 (79,825) 376,595 (7,720) 19,302 11,582
Total funds brought forward 928,395 106,851 1,035,246 936,115 87,549 1,023,664
Total funds carried forward 1,384,815 27,026 1,411,841 928,395 106,851 1,035,246

There are no gains or losses other than those recognised through the statement of financial activities. The results above have all derived from continuing activities.

The notes on pages 18 to 29 form part of these accounts

- 15 -

Guideposts Trust Limited

Balance Sheet as at 31st March 2021

Company Number: 1282361 Company Number: 1282361
DRAFT
Note 2021 2020
£ £
Fixed Assets
Tangible Assets 9 388,623 407,725
Intangible Assets 11 - 356,397
─────── ───────
388,623 764,122
─────── ───────
Current Assets
Debtors 12 109,972 446,473
Cash at bank and in hand 13 1,297,351 21,412
─────── ───────
1,407,323 467,885
Creditors: Amounts falling due within
one year 14 (258,298) (113,947)
─────── ───────
Net Current Assets 1,149,025 353,938
─────── ───────
Total assets less current liabilities 1,537,648 1,118,060
Creditors: Amounts falling due
after one year 15 (125,807) (82,814)
─────── ───────
Net Assets 1,411,841 1,035,246
═══════ ═══════
Reserves
Unrestricted Funds 22 1,307,025 850,605
Revaluation Reserve 22 77,790 77,790
Restricted Funds 22 27,026 106,851
─────── ───────
Total of Charity’s funds 1,411,841 1,035,246
═══════ ═══════

These accounts were approved by the Board of Trustees on …………………………. 2021

Diana Billingham (Trustee)

The notes on pages 19 to 29 form part of these accounts.

- 16 -

Guideposts Trust Limited

Cash Flow Statement for the year ended 31st March 2021

Note 2021 2020
£ £
Reconciliation of operating result to net cash outflow from operating activities
DRAFT
Surplus for the year 376,595 11,582
Interest received (18) (267)
Depreciation and amortisation 375,499 80,092
Loss on disposal - 18,659
Decrease in debtors 336,501 69,261
Increase/(decrease) in creditors 141,558 (57,268)
────── ──────
Net cash inflow from operating activities 1,230,135 122,059
══════ ══════
Cash flow from financing activities
Interest received 18 267
Repayment of hire purchase obligations (4,214) (3,163)
Repayment of capital 17 - (8,808)
Receipts from issue of new loan 50,000 -
────── ──────
Net cash flow from financing activities 45,804 (11,704)
══════ ══════
Net increase in cash and cash equivalents 1,275,939 110,355
Cash and cash equivalents at 1st April 21,412 (88,943)
────── ──────
Cash and cash equivalents at 31st March 1,297,351 21,412
══════ ══════
Cash and cash equivalents
Cash at bank and in hand 1,297,351 21,412
────── ──────
1,297,351 21,412
══════ ══════

- 17 -

Guideposts Trust Limited

Notes to the Accounts

for the year ended 31st March 2021

1. Summary of significant accounting policies

DRAFT

(i) Guideposts Trust Limited is a registered charity and company limited by guarantee incorporated in England and Wales, In the event of the charity being wound up its liability in respect of the guarantee is limited to £1 per member of the charity. The registered address of the charity is that given on page 1 of these financial statements. Guideposts Trust Limited is a multi-disciplinary social care and mental health charity.

(ii) The accounts are prepared under this historical cost convention modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006 and rounded to the nearest £1.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Land - Nil
Freehold buildings - 2% - 10% straight line
Improvements to Leasehold Property - Over the lifetime of the lease
Fixtures and fittings - 20% straight line
Equipment - 15% straight line
Computer Software - 15% straight line
Computer Hardware - 25% straight line
Motor vehicles - 25% straight line

Capital Expenditure in excess of £1,000 is capitalised.

c) Intangible Fixed Assets Donor Database

This was developed internally and represents the cost of recruitment of donors who make a regular contribution to the charity, and is expected to generate income for the charity over a number of years. The cost of the campaigns to build donor databases is amortised over the period of these projected income streams. Due to increased uncertainties related to making reliable estimates of future income streams for future periods, it was considered prudent to make an impairment charge to write down the intangible value to zero in the current year.

- 18 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

1. Accounting policies (continued)

DRAFT

HERE Development Costs

‘HERE’ is an information, advice and guidance (IAG) support service for people with a long term condition and their carers. ‘HERE’ forms part of the operational strategy to continuously develop and maximise on the intrinsic value that IAG has brought to the organisation over many years. The intangible asset relates to development of the current platform, product definition, delivery protocols and branding. The intangible value that IAG has brought to the organisation results in various income streams, not only from specific IAG services but also from donations, legacies and grants. Based on the value that IAG brings to the organisation, it is considered reasonable to amortise the intangible over a period of 7 years, taking into account specific IAG activity during the period. Due to specific funding ending in the current year, and increased uncertainties related to future income streams, the intangible value was written down to zero in the current year.

The restricted funds include unspent income which has been received in response to specific appeals and grants towards services. Surplus funds at the completion of a project, if the funding body approves, or if the contract terms permit retention, are transferred to unrestricted funds, when it is clear they will not be utilised.

The Charity operates a group personal pension scheme. The assets of the schemes are held separately from those of the Charity in an independently administered fund. The pension cost represents contributions by the Charity to the fund, which are recognised when they become payable.

f) Income Voluntary income including donations, gifts, legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised when earned (as the related goods or services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

The charity receives government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accrual model and as such are recorded in the Statement of Financial Activities in the period in which the charity is entitled to such grants as a result of having furloughed staff members.

Where they are recognised in the accounts, gifts in kind or donated services are included at market value on the date of receipt.

- 19 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

1 Accounting policies (continued)

DRAFT

h) Expenditure

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.

i) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

k) Going concern

The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, including a revision of expectations for the potential impact of COVID-19 on the charity. A significant legacy receipt was received during this period which will bolster the cash position of the charity. Based on this, the budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern and therefore the accounts have been prepared on a going concern basis.

l) Judgements and key sources of estimation uncertainty

The trustees are required to make assumptions on the basis on which amortisation of intangible assets is calculated. These are included as best estimates at the date of calculation but present a significant risk in potentially causing a material adjustment to the balance sheet.

HERE development costs are amortised on the basis that historically information, advice and guidance continues to bring value to the organisation, not only from specific IAG activities but also in the form of branding and awareness that result in various streams of income over many years. However, due to the Big Lottery grant funding ending in the current year, and the uncertainties related to estimated future income streams, it was considered prudent to write off the intangible value to zero, through an impairment charge of £224,708 in the current year.

The Donor Database represents the cost of recruitment of donors who make a regular contribution to the charity. This cost is amortised against the income streams generated each year. Donors cease giving for various reasons and we expect our donor database will decline over time. In addition, we expect giving to continue to be impacted by the effects of Covid 19. The trustees have also considered the effect of GDPR on the value of the data base. Based on the current significant uncertainties related to estimating future income streams required to substantiate the intangible value, it was considered prudent to write off the intangible value to zero, through an impairment charge of £131,689 in the current year.

- 20 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

DRAFT
2 Donations and legacies
Unrestricted Restricted Total Total
2021 2020
£ £ £ £
General donations 550,779 - 550,779 565,037
Government and local authority grants 93,979 74,597 168,576 -
Legacies 654,620 - 654,620 235,136
────── ────── ────── ──────
1,299,378 74,597 1,373,975 800,173
══════ ══════ ══════ ══════

Included within Government and local authority grants for the Charity is £93,979 (2020: £nil) of Government grants relating to the Coronavirus Job Retention Scheme.

3 Contracted Services & Grants received

Unrestricted Unrestricted Restricted Total Total
2021 2020
£ £ £ £
Local Authorities & Other 479,749 - 479,749 580,962
The National Lottery Community Fund
(TNLCF) – Friendship 4 All - 17,780 17,780 70,080
TNLCF – HERE - 48,841 48,841 91,282
TNLCF – Coronavirus Community Support - 58,418 58,418 -
Groundwork UK - - - 1,232
BBC Children in Need - 23,226 23,226 34,596
Adrian Swire Charitable Trust - - - 5,000
Julia & Hans Rausing Trust – Charity Survival Fund - 33,839 33,839 -
Hertfordshire Community Foundation
- Emergency Coronavirus Fund - 4,662 4,662 -
Barnwood Trust – Covid-19 Support - 5,500 5,500 -
Oxfordshire Community Foundation
- Covid-19 Relief - 7,828 7,828 -
Gloucestershire Community Foundation
- Coronavirus Recovery - 5,000 5,000 -
────── ────── ────── ──────
479,749 205,094 684,843 783,152
══════ ══════ ══════ ══════
4 Other operating income
Other operating income
2021 2020
£ £
Miscellaneous income 2,105 6,451
Rental income 3,667 6,000
Interest received 18 267
────── ──────
5,790 12,718
══════ ══════

- 21 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

5 Net income/expenditure

DRAFT

Net income/expenditure Net income/expenditure DRAFT
This is stated after charging:
Auditors’ Remuneration - audit of these financial statements 5,700 5,600
- other services – current year 1,100 780
– prior year - 1,100
- Value Added Tax 1,360 1,496
Depreciation and amortisation 375,499 80,091
Operating leases - land and buildings 15,900 40,931
Operating leases - other 8,425 11,886
Interest payable - bank loan interest 1,502 3,396
- hire purchase 1,120 2,313
- bank interest - 41
══════ ══════

6 Employees

Employees
2021 2020
Number Number
The average number of employees during the year was:
Project staff 58 71
Fundraising 4 4
Project/care administration 4 4
Administration 5 5
────── ──────
71 84
══════ ══════
£ £
Their total remuneration was:
Wages and salaries 1,146,854 1,168,393
Social security costs 79,431 81,318
Other pensions costs 58,806 57,881
────── ──────
1,285,091 1,307,592
══════ ══════

The charity operates a group personal pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost represents contributions by the charity to the funds, which are recognised when they become payable. Contributions owing amounted to £10,957 at 31 March 2021 (2020: £11,039) respectively.

None of the Trustees received any remuneration for their office and Trustees’ expenses totalled £nil for the year (2020: £375). Indemnity insurance of £464 (2020: £405) was paid in respect of the Trustees.

There was one employee with emoluments between £70,000 and £80,000 in the year (2020: one). The total paid to key management personnel in the year was £137,182 (2020: £132,993).

- 22 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

7 Taxation The trust is a registered charity in accordance with Section 505 of the Income and Corporation Taxes Act 1988. As such it is not liable to pay corporation tax on any surplus applied for charitable purposes.

8 Analysis of Expenditure

Staff Support Depreciation/ Other Total Total
Costs Costs amortisation 2021 2020
£ £ £ £ £ £
Charitable activities 1,162,950 94,917 243,810 275,222 1,776,899 1,885,421
Raising funds 122,141 18,632 131,689 93,786 366,248 207,364
────── ────── ────── ────── ────── ──────
1,285,091 113,549 375,499 369,008 2,143,147 2,092,785
══════ ══════ ══════ ══════ ══════ ══════

The allocation of Support Costs is shown in note 23. Other charitable activity costs represent other costs of delivering services and contracts. Client activities, travel, training and premises costs. Other costs of raising funds include the cost of direct mail activity.

Included within charitable activities is restricted expenditure of £359,516 (2020: £263,932).

9 Tangible Fixed Assets

Fixtures,
Freehold Freehold Fittings and Motor
Buildings Land Equipment Vehicles Total
£ £ £ £ £
Cost / valuation
At 1st April 2020 312,000 98,000 484,116 26,454 920,570
At 31st March 2021 312,000
98,000		 484,116 26,454 920,570
Depreciation
At 1st April 2020 18,400 - 479,018 15,427 512,845
Charge for year 9,200 - 4,388 5,514 19,102
At 31st March 2021 27,600 - 483,406 20,941 531,947
Net book value
At 31st March 2021 284,400 98,000 710 5,513 388,623
At 31st March 2020 293,600 98,000 5,098 11,027 407,725

All assets are held for charitable purposes.

The net carrying amount of motor vehicles includes £5,513 in respect of assets held under hire purchase contracts.

- 23 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

10 Revalued Tangible Fixed Assets

Two freehold buildings owned by the charity were revalued at 31st March 2018.

The basis for the revaluation was an external survey carried out by an independent valuer in July 2018 and his estimate of their value should they be placed on the open market.

The carrying amount for freehold buildings that would have been recognised at the end of the reporting period, had the assets be carried under the historical cost model is £206,610. The gain on revaluation of £77,790 is shown within the funds analysis on the balance sheet as the revaluation reserve.

11 Intangible Fixed Assets

Charity
Cost
At 1st April 2020 and 31st March 2021

Amortisation
At 1st April 2020
Charge for year
At 31st March 2021
Net book value
At 31st March 2021
At 31st March 2020		 Donor Database
HERE
Development
Total
£
£
£

315,448
370,010
685,458
════════════════════════════════════════
90,740
238,321
329,061
224,708
131,689
356,397
315,448
370,010
685,458
════════════════════════════════════════
-
-
-
════════════════════════════════════════
224,708
131,689
356,397
════════════════════════════════════════

12 Debtors

2021 2020
£ £
Income debtors 84,294 79,014
Accrued income 69,376 374,245
Due from Be Free Young Carers 46,397 51,397
Prepayments 10,077 8,154
Accrued income tax/VAT recoverable 509 684
Provision for bad debts (100,681) (67,021)
───── ─────
109,972 446,473
═════ ═════

- 24 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT
2021 2020
£ £
13 Cash at bank and in hand
Cash and current accounts 1,297,351 21,412
═════ ═════
14 Creditors: amounts falling due within one year
Bank loans (secured) 11,881 9,307
Trade creditors 43,741 36,220
Taxes and social security costs 32,986 36,755
Accruals and deferred income 165,225 27,409
Hire purchase 4,465 4,256
───── ─────
258,298 113,947
═════ ═════
15 Creditors: amounts falling due after one year
Bank loans (secured) 119,491 72,065
Hire purchase 6,316 10,749
───── ─────
125,807 82,814
═════ ═════
Maturity of bank loan (secured)
- due in one year or less 11,881 9,307
- between one and two years 17,657 9,543
- between two and five years 61,995 30,100
- in five years or more 39,839 32,422
───── ─────
131,372 81,372
═════ ═════

A loan from Tridos Bank is secured on two freehold properties at a current interest rate of 1.85%.

The Bounce Back loan from HSBC is unsecured at a fixed interest rate of 2.5%, with repayments only due after December 2021.

- 25 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

16 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases were:

Land and buildings:
Operating leases which expire:
- within one year 3,000 3,000
- in the second to fifth years inclusive 42,517 19,467
───── ─────
45,517 22,467
═════ ═════
Equipment:
Operating leases which expire:
- within one year - -
- within the second to fifth years inclusive 26,636 27,988
───── ─────
26,636 27,988
───── ─────
17 Repayment of capital
2021 2020
£ £
Decrease in borrowings
Debt due within one year:
Secured loans - 229
Debt due after one year:
Secured loans - (9,037)
───── ─────
- (8,808)
═════ ═════

- 26 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

18 Analysis of net debt

At 1st Cash At 31st
April 2020 Flow March 2021
Cash and cash equivalents 21,411 1,275,940 1,297,351
Bank loans due within one year (9,307) (2,574) (11,881)
Bank loans due after one year (72,065) (47,426) (119,491)
Hire purchase obligations (15,005) 4,224 (10,781)
───── ───── ─────
Net (debt) / cash (74,966) 1,230,164 1,155,198
═════ ═════ ═════
At 1st Cash At 31st
April 2019 Flow March 2020
Cash and cash equivalents 10,621 10,790 21,411
Overdraft facility (99,564) 99,564 -
Bank loans (secured) due within one year (9,078) (229) (9,307)
Bank loans (secured) due after one year (81,102) 9,037 (72,065)
Hire purchase obligations (18,168) 3,163 (15,005)
───── ───── ─────
Net debt (197,291) 122,325 (74,966)
═════ ═════ ═════

19 Associated charitable company

Be Free Young Carers

A partnership agreement was signed on 21 February 2014 which enabled the Charity to enter into a Constitutional and Service Level Agreement with Be Free Young Carers which enables the Be Free Young Carers to share the resources of the Charity. At the date of the agreement, Guideposts provided financial support to enable Be Free Young Carers to maintain services whilst a long term strategic plan to develop and grow sustainable services to carers in the region for both organisations was researched and developed. To date the Charity has outstanding financial support totalling £46,397 to Be Free Young Carers by way of an intercompany loan. In the year ended 31st March 2020, the decision was made to provide against this loan. At 31st March 2021 the total provision against the loan was £46,397.

20 Ultimate Controlling Party

The Charity is controlled by a board of Trustees with no one person having overall control.

21 Related Parties

There were no related party transactions during the year.

- 27 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

22 Reserves

2021
Unrestricted
Restricted Funds Revaluation General Total
Projects Reserve Funds Funds
£ £ £ £
Balance brought forward 106,851 77,790 850,605 1,035,246
─────── ─────── ─────── ───────
Income for the year 279,691 - 2,240,051 2,519,742
Expenditure for the year (359,516) - (1,783,631) (2,143,147)
─────── ─────── ─────── ───────
(Deficit)/surplus for the year (79,825) - 456,420 376,595
─────── ─────── ─────── ───────
Balance carried forward 27,026 77,790 1,307,025 1,411,841
═══════ ═══════ ═══════ ═══════
Analysis of net assets between funds
Tangible fixed assets - 77,790 310,833 388,623
Net current assets 27,026 - 1,121,999 1,149,025
Creditors falling due after one year - - (125,807) (125,807)
─────── ─────── ─────── ───────
Total 27,026 77,790 1,307,025 1,411,841
═══════ ═══════ ═══════ ═══════
2020
Unrestricted
Restricted Funds Revaluation General Total
Projects Reserve Funds Funds
£ £ £ £
Balance brought forward 87,549 77,790 858,325 1,023,664
─────── ─────── ─────── ───────
Income for the year 283,234 - 1,821,133 2,104,367
Expenditure for the year (263,932) - (1,828,853) 2,092,785
─────── ─────── ─────── ───────
Surplus for the year 19,302 - (7,720) 11,582
─────── ─────── ─────── ───────
Balance carried forward 106,851 77,790 850,605 1,035,246
═══════ ═══════ ═══════ ═══════
Analysis of net assets between funds
Tangible fixed assets - 77,790 329,935 407,725
Intangible fixed assets - - 356,397 356,397
Net current assets 106,851 - 247,087 353,938
Creditors falling due after one year - - (82,814) (82,814)
─────── ─────── ─────── ───────
Total 106,851 77,790 850,605 1,035,246
═══════ ═══════ ═══════ ═══════

- 28 -

Guideposts Trust Limited

Notes to the Accounts (continued) for the year ended 31st March 2021

DRAFT

22 Reserves (continued)

Unrestricted Funds

a) General Funds

These represent the reserves which are not designated for a specific purpose.

b) Revaluation Reserve

These represent the surplus on open market revaluation on two freehold offices owned by the Charity.

Restricted Funds

Projects

These funds represent the restricted unspent balances from several projects, which will be expended in subsequent accounting periods. Where the terms of the funding permit, unspent restricted funds are released to General Funds either when it is clear that all commitments relating to the project have been met for the period under review, for on-going projects, or at the end of the project life.

Where a project is forecast to have insufficient funding streams to fully cover its costs and if it is felt that the support of that activity would further the aims of the charity, the Trustees will decide to under pin that project from General Funds. Projects supported in this manner in the current year numbered 7, with a total value of £27,902 (13 in the previous year, with a total value of £154,290). This includes closure costs of services.

23 Allocation of support costs

The Trust allocates its support costs as shown in the table below. Support costs are allocated on the basis consistent with the use of resources.

Allocated to

Costs of
Charitable Raising 2021 2020
Activities Funds Total Total
General office 53,705 14,627 68,332 138,352
Information technology 7,140 3,960 11,100 27,044
Governance costs 8,000 - 8,000 9,416
Legal and other professional costs 26,072 45 26,117 23,309
─────── ─────── ─────── ───────
94,917 18,632 113,549 198,121
═══════ ═══════ ═══════ ═══════

Analysis of charitable activities support costs

Community Care Services & Projects

100%

- 29 -