COMPANY REGISTRATION NUMBER: 1347568 CHARITY REGISTRATION NUMBER: 275241
Cherry Orchards (Camphill) Community Limited Company Limited by Guarantee Unaudited Financial Statements 31 January 2021
ELLIOTT BUNKER LIMITED
Chartered accountants 61 Macrae Road Ham Green Bristol BS20 0DD
Page 1
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 January 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 January 2021.
Reference and administrative details
Registered charity name
Cherry Orchards (Camphill) Community Limited
Charity registration number 275241 Company registration number 1347568 Principal office and registered 9 Dunkeld Avenue office Filton Bristol BS34 7RH
The trustees
Ms B Brofos Mr K Dziambor Mr E Gonzalez-Morera Ms G Knudsen Ms S Robinson
Independent examiner Nick Michael FCA Elliott Bunker Limited Chartered Accountant 61 Macrae Road Ham Green Bristol BS20 0DD
Page 2
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 January 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Cherry Orchards (Camphill) Community is incorporated as a company limited by guarantee, not having a share capital. It is registered under the Charities Act and governed by the Memorandum and Articles of Association adopted by the Council of Management in November 2006, in common with the 13 Camphill Communities not part of the Camphill Village Trust. The Council of Management comprises five trustees and three co-opted members of Cherry Orchards Community. It reviews the major risks to which the charity is exposed, for which systems have been established to mitigate such risks. It met eighteen times during the year. Each trustee continues to provide additional time and support, where possible, towards Cherry Orchards, according to their own personal and professional areas of expertise. This enables the trustee body to deepen its insight into the work of of the community with its service users, and to offer support and feedback to the managers.
Due to difficulties in securing funding for our residential services and therefore sufficient income to continue to operate as a Care Home, the Trustees decided it would be in the best interest of the Charity to sell the site at Canford Lane, Bristol. The Trustees, after taking legal advise, opted for a Charity-to-Charity sale to ensure that the site would continue to be managed in such a way that is sympathetic to how the site has been managed for 40+ years. The sale was completed in November 2020.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives for the year. The public benefit has been met through the achievements and activities as outlined below.
Objectives and activities
Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are:
“for the public benefit, to relieve sickness, promote good Health, provide care to and advance the education and training of: people with a disability (whether mental or physical), the young, the old, or people otherwise in need, in accordance with the principles of Dr Rudolf Steiner (as summarised in the appendix to this memorandum), particularly (without limitations) by the establishment and maintenance of communities in the form of villages, residential houses, day centres, kindergartens, school, colleges or other types of social and/or educational community in which beneficiaries live and/or work and/or to which they otherwise resort, in community with persons providing support.”
For many years we have offered residential care as a registered Care Home with the CQC. This chapter of the charity has now been closed and we are looking into other ways of offering high quality service to people in need, in a new way. The Trustees are engaged in research around future possibilities as well as seeking legal advice.
Page 3
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 January 2021
Achievements and Performance
RESERVES
The trustees consider it prudent to maintain sufficient reserves to
(a) provide funds which can be designated to specific projects to be undertaken at short notice;
(b) to avoid the necessity to realise fixed assets held for the charity's use;
(c) to provide funds to meet any capital debt repayments over the ensuing twelve months.
GOVERNANCE AND INTERNAL CONTROL
The council of management currently reviews the major risks to which the charity is exposed and systems have been established to mitigate such risks.
Financial review
The gross incoming resources for the year amounted to £2,756,657 (this included £2,720,715 relating to the gain on the disposal of the property) and total expenditure was £148,599 resulting in a surplus of £2,608,058. General reserves increased to £2,599,372.
COVID-19 IMPACT
As the community did not have any residents or day provision during 2020, we were not adverse affected by this. Steps were taken to mitigate risks such as reducing visitor numbers and adhering to all government advice.
PLANS FOR THE FUTURE
For many years we have offered residential care as a registered Care Home with the CQC. This chapter of the charity has now been closed and we are looking into other ways of offering high quality service to people in need, in a new way. The Trustees are engaged in research around future possibilities as well as seeking legal advice.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 24 May 2021 and signed on behalf of the board of trustees by:
Chair, Board of Trustees
Page 4
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cherry Orchards (Camphill) Community Limited
Year ended 31 January 2021
I report to the trustees on my examination of the financial statements of Cherry Orchards (Camphill) Community Limited ('the charity') for the year ended 31 January 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Page 5
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cherry Orchards (Camphill) Community Limited (continued)
Year ended 31 January 2021
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nick Michael FCA Elliott Bunker Limited Chartered Accountant Independent Examiner
61 Macrae Road Ham Green Bristol BS20 0DD
Page 6
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 January 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 17,167 | 17,167 | 23,728 |
| Other trading activities | 6 | 18,775 | 18,775 | 129,732 |
| Other income | 7 | 2,720,715 | 2,720,715 | 2,888 |
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Total income | 2,756,657 | 2,756,657 | 156,348 | |
| ========================================= | ========================================= | ================================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 8 | 67,987 | 67,987 | 190,400 |
| Other expenditure | 10 | 80,612 | 80,612 | 22,192 |
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Total expenditure | 148,599 | 148,599 | 212,592 | |
| ========================================= | ========================================= | ================================ | ||
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net movement in funds | 2,608,058 | 2,608,058 | (56,244) | |
| ========================================= | ========================================= | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | (8,686) | (8,686) | 47,558 | |
| ----------------------------------------- | ----------------------------------------- | -------------------------------- | ||
| Total funds carried forward | 2,599,372 | 2,599,372 | (8,686) | |
| ========================================= | ========================================= | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 17 form part of these financial statements.
Page 7
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Statement of Financial Position
31 January 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | – | 334,665 |
| Investments | 16 | 51 | 51 |
| -------------- | -------------------------------- | ||
| 51 | 334,716 | ||
| Current assets | |||
| Debtors | 17 | 52,497 | 4,469 |
| Cash at bank and in hand | 2,600,382 | 24,774 | |
| ----------------------------------------- | ---------------------------- | ||
| 2,652,879 | 29,243 | ||
| Creditors: amounts falling due within one year | 18 | 3,708 | 34,410 |
| ----------------------------------------- | ---------------------------- | ||
| Net current assets | 2,649,171 | (5,167) | |
| ----------------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 2,649,222 | 329,549 | |
| Creditors: amounts falling due after more than one year | 19 | 49,850 | 338,235 |
| ----------------------------------------- | -------------------------------- | ||
| Net assets | 2,599,372 | (8,686) | |
| ========================================= | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 2,599,372 | (8,686) | |
| ----------------------------------------- | ----------------------- | ||
| Total charity funds | 22 | 2,599,372 | (8,686) |
| ========================================= | ======================= |
For the year ending 31 January 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 24 May 2021, and are signed on behalf of the board by:
Chair, Board of Trustees
The notes on pages 8 to 17 form part of these financial statements.
Page 8
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 January 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 9 Dunkeld Avenue, Filton, Bristol, BS34 7RH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
The useful economic life of fixed assets.
Page 9
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
3. Accounting policies (continued)
Fund accounting
Restricted Funds
Incoming resources in the form of grants and project income are treated as restricted funds on the basis that they have been received for specified purposes as laid down by the donor. Expenditure that meets these criteria is identified to the fund, together with a fair allocation of management and support costs. Where projects are substantially funded from restricted income, any surplus funding will be carried forward as restricted funds.
Designated Funds
Designated funds are unrestricted funds earmarked by the Management committee for a particular purpose.
Unrestricted Funds
Unrestricted funds are fees, donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. The charity is not registered for VAT and accordingly expenditure is inclusive of VAT.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.
Page 10
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
3. Accounting policies (continued)
Tangible assets
Fixed assets are initially recorded at cost. Capital expenditure, except that on Motor Vehicles and new buildings, is written off as it is incurred.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold Property | - | 4% straight line |
|---|---|---|
| Fixture, Fittings & Equipment | - | 4% straight line |
| Motor Vehicles | - | 25% straight line |
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Page 11
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Under the terms of the company's Memorandum and Articles every member of the company undertakes to contribute to the assets of the company if it is wound up during the time that he or she is a member, or within one year afterwards, for payment of debts and liabilities of the company contracted before he or she ceased to be a member, up to a maximum of £1. At 31 January 2021, the number of trustees was 4 (2020 - 5)
No one individual has control over the charitable company.
Page 12
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 17,167 | 17,167 | 3,228 | 3,228 | |
| Donations - Catherine Grace Trust | – | – | 5,000 | 5,000 | |
| Donations - V & S Sands | – | – | 15,500 | 15,500 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 17,167 | 17,167 | 23,728 | 23,728 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Fees and shop income | 18,775 | 18,775 | 129,732 | 129,732 | |
| ============================ | ============================ | ================================ | ================================ | ||
| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gain on disposal of tangible fixed assets | |||||
| held for charity's own use | 2,720,715 | 2,720,715 | 2,888 | 2,888 | |
| ========================================= | ========================================= | ======================= | ======================= |
Exceptional Item – During the year, the charity disposed of its property. The gain on the sale attributed to this prior to the deduction of legal costs was £2,722,393.
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Care home services | 62,621 | 62,621 | 184,900 | 184,900 |
| Support costs | 5,366 | 5,366 | 5,500 | 5,500 |
| ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 67,987 | 67,987 | 190,400 | 190,400 | |
| ============================ | ============================ | ================================ | ================================ | |
| Analysis of support costs | ||||
| Care home | ||||
| service | Total 2021 | Total 2020 | ||
| £ | £ | £ | ||
| Governance costs | 5,365 | 5,365 | 4,899 | |
| ======================= | ======================= | ======================= |
9. Analysis of support costs
Page 13
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
10. Other expenditure
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Interest payable | 8,125 | 8,125 | 11,744 | 11,744 |
| Bank charges and interest | 3,426 | 3,426 | 109 | 109 |
| Legal and professional charges | 69,061 | 69,061 | 10,339 | 10,339 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 80,612 | 80,612 | 22,192 | 22,192 | |
| ============================ | ============================ | ============================ | ============================ |
11. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets | 1,852 | 2,379 |
| Gains on disposal of tangible fixed assets | (2,720,715) | (2,888) |
| ========================================= | ======================= |
12. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 3,600 | 3,600 |
| ======================= | ======================= |
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | – | 59,339 |
| Social security costs | – | 1,466 |
| Employer contributions to pension plans | – | 6,548 |
| Other employee benefits | 20,336 | 40,383 |
| ---------------------------- | -------------------------------- | |
| 20,336 | 107,736 | |
| ============================ | ================================ | |
| The average head count of employees during the year was Nil (2020: 2). The average number of full-time | ||
| equivalent employees during the year is analysed as follows: | ||
| 2021 | 2020 | |
| No. | No. | |
| Number of staff | – | 2 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
14. Trustee remuneration and expenses
No Trustee has been paid remuneration or received other benefits from employment with the charity. Trustee expenses of £105 were paid during the year.
Page 14
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
15. Tangible fixed assets
| Land and | Fixtures and | |||
|---|---|---|---|---|
| buildings | fittings Motor vehicles | Total | ||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 Feb 2020 | 1,285,310 | 6,705 | 8,445 | 1,300,460 |
| Disposals | (1,285,310) | (6,705) | (8,445) | (1,300,460) |
| ----------------------------------------- | ----------------------- | ----------------------- | ----------------------------------------- | |
| At 31 Jan 2021 | – | – | – | – |
| ========================================= | ======================= | ======================= | ========================================= | |
| Depreciation | ||||
| At 1 Feb 2020 | 957,704 | 1,229 | 6,862 | 965,795 |
| Charge for the year | – | 268 | 1,584 | 1,852 |
| Disposals | (957,704) | (1,497) | (8,446) | (967,647) |
| ----------------------------------------- | ----------------------- | ----------------------- | ----------------------------------------- | |
| At 31 Jan 2021 | – | – | – | – |
| ========================================= | ======================= | ======================= | ========================================= | |
| Carrying amount | ||||
| At 31 Jan 2021 | – | – | – | – |
| ========================================= | ======================= | ======================= | ========================================= | |
| At 31 Jan 2020 | 327,606 | 5,476 | 1,583 | 334,665 |
| ========================================= | ======================= | ======================= | ========================================= |
Finance leases and hire purchase contracts
Included within the carrying value of tangible fixed assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
| Motor | ||||
|---|---|---|---|---|
| vehicles | ||||
| £ | ||||
| At | 31 | Jan | 2021 | – |
| ============== | ||||
| At | 31 | Jan | 2020 | 1,584 |
| ======================= |
16. Investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 Feb 2020 and 31 Jan 2021 | 51 |
| ============== | |
| Impairment | |
| At 1 Feb 2020 and 31 Jan 2021 | |
| Carrying amount | |
| At 31 Jan 2021 | 51 |
| ============== | |
| At 31 Jan 2020 | 51 |
| ============== |
All investments shown above are held at valuation.
Listed investments
The aggregate market value of listed investments is £51 (2020: £51).
Page 15
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
16. Investments (continued)
Financial assets held at fair value
The investment comprises 1 non-voting share certificate in Triodos Bank NV.
17. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 2,497 | 2,332 |
| Prepayments and accrued income | – | 2,137 |
| Other debtors | 50,000 | – |
| ---------------------------- | ----------------------- | |
| 52,497 | 4,469 | |
| ============================ | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | – | 14,000 |
| Trade creditors | 108 | 1,243 |
| Obligations under finance leases and hire purchase contracts | – | 3,812 |
| Other creditors | 3,600 | 15,355 |
| ----------------------- | ---------------------------- | |
| 3,708 | 34,410 | |
| ======================= | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | – | 248,387 |
| Other loans - V &S Sands | – | 39,998 |
| Other loans - CGT | 49,850 | 49,850 |
| ---------------------------- | -------------------------------- | |
| 49,850 | 338,235 | |
| ============================ | ================================ |
18. Creditors: amounts falling due within one year
19. Creditors: amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £Nil (2020: £192,387) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Included within creditors: amounts falling due after more than one year is an amount of £49,850 (2020: £89,848) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
Page 16
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
20. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | – | 3,812 |
| ============== | ======================= |
21. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £Nil (2020: £6,548).
22. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At 1 Feb 2020 | Income | Expenditure | 31 Jan 2021 | |
| £ | £ | £ | £ | |
| Unrestricted Funds | (8,686) | 2,756,657 | (148,599) | 2,599,372 |
| ======================= | ========================================= | ================================ | ========================================= | |
| At | ||||
| At 1 Feb 2019 | Income | Expenditure | 31 Jan 2020 | |
| £ | £ | £ | £ | |
| Unrestricted Funds | 47,558 | 156,348 | (212,592) | (8,686) |
| ============================ | ================================ | ================================ | ======================= | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Tangible fixed assets | – | – | ||
| Investments | 51 | 51 | ||
| Current assets | 2,652,879 | 2,652,879 | ||
| Creditors less than 1 year | (3,708) | (3,708) | ||
| Creditors greater than 1 year | (49,850) | (49,850) | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 2,599,372 | 2,599,372 | ||
| ========================================= | ========================================= | |||
| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| £ | £ | |||
| Tangible fixed assets | 334,665 | 334,665 | ||
| Investments | 51 | 51 | ||
| Current assets | 29,243 | 29,243 | ||
| Creditors less than 1 year | (34,411) | (34,411) | ||
| Creditors greater than 1 year | (338,235) | (338,235) | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | (8,687) | (8,687) | ||
| ================================ | ================================ |
23. Analysis of net assets between funds
Page 17
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 January 2021
24. Financial instruments
The carrying amount for each category of financial instrument is as follows:
| The carrying amount for each category of financial instrument is as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Financial assets measured at fair value through income and expenditure | ||
| Listed investments | 51 | 51 |
| ============== | ============== | |
| Financial assets that are debt instruments measured at amortised cost | ||
| Trade debtors | 2,497 | 2,332 |
| ======================= | ======================= | |
| Financial liabilities measured at amortised cost | ||
| Trade creditors | 107 | 1,245 |
| Hire Purchase agreements | – | 3,812 |
| -------------- | ----------------------- | |
| 107 | 5,057 | |
| ============== | ======================= | |
| Loan commitments measured at cost less impairment | ||
| Loan commitments measured at cost less impairment | 49,850 | 262,387 |
| ============================ | ================================ |
Page 18
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Management Information
Year ended 31 January 2021
The following pages do not form part of the financial statements.
Page 19
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 January 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 17,167 | 3,228 |
| Donations - Catherine Grace Trust | – | 5,000 |
| Donations - V & S Sands | – | 15,500 |
| ---------------------------- | ---------------------------- | |
| 17,167 | 23,728 | |
| ---------------------------- | ---------------------------- | |
| Other trading activities | ||
| Fees and shop income | 18,775 | 129,732 |
| ---------------------------- | -------------------------------- | |
| Other income | ||
| Gain on disposal of tangible fixed assets held for charity's own use | 2,720,715 | 2,888 |
| ----------------------------------------- | ----------------------- | |
| ----------------------------------------- | -------------------------------- | |
| Total income | 2,756,657 | 156,348 |
| ========================================= | ================================ |
Page 20
Cherry Orchards (Camphill) Community Limited
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 January 2021
| Expenditure | ||
|---|---|---|
| Expenditure on charitable activities | ||
| Wages and salaries | – | 59,339 |
| Employer's NIC | – | 1,466 |
| Pension costs | – | 6,548 |
| Other post-retirement benefits | 20,336 | 40,383 |
| Rent | – | 1,741 |
| Rates and water | 6,149 | 6,482 |
| Light and heat | 8,247 | 11,424 |
| Repairs and maintenance | 1,512 | 5,696 |
| Insurance | 7,729 | 11,909 |
| Other establishment | 1,323 | 3,843 |
| Motor vehicle expenses | 1,261 | 2,673 |
| Legal and professional fees | 5,366 | 5,500 |
| Telephone | 3,291 | 5,849 |
| Other office costs | 2,546 | 4,793 |
| Depreciation | 1,852 | 2,379 |
| Cultural & educational | 799 | 1,117 |
| Medical expenses | – | 796 |
| Food | 2,474 | 9,793 |
| Care commission expenses | 334 | 1,438 |
| Other expenses | 3,857 | 3,352 |
| Household expenditure | 911 | 3,879 |
| ----------------------------------------- | -------------------------------- | |
| 67,987 | 190,400 | |
| ----------------------------------------- | -------------------------------- | |
| Other expenditure | ||
| Interest payable | 8,125 | 11,744 |
| Bank charges and interest | 3,426 | 109 |
| Legal and professional charges | 69,061 | 10,339 |
| ---------------------------- | ---------------------------- | |
| 80,612 | 22,192 | |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 148,599 | 212,592 |
| ================================ | ================================ | |
| ----------------------------------------- | -------------------------------- | |
| Net income/(expenditure) | 2,608,058 | (56,244) |
| ========================================= | ================================ |