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2021-08-31-accounts

REGISTERED COMPANY NUMBER : 01162279 REGISTERED CHARITY NUMBER : 275637

INTER CARE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES

AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

INTER CARE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2-7
Independent Examiner’s Report 8-9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12-19
Not Part of the Statutory Financial Statements
Detailed Statement of Financial Activities 20

INTER CARE LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2021

TRUSTEES AT YEAR END AND THROUGHOUT THE YEAR:

Mrs C R Austin (Treasurer) Mr I R Bailey MSc, C, Eng. Dr J W D Baugh BA, MA, MB.MChir, DA. Mrs K J Garnett LLB Law (Vice Chair) Mr W A Herbert BA (Hons), MSc (Resigned 17/11/2020) Mr A Mellor FBIM, M Ch, Inst M (Chair) Dr P A O’Callaghan MB, BCH, BAO Mrs V Webber BSc Mrs J P Widdowson BPharm, PhD, MRPharmS

GENERAL MANAGER : Mrs D Hardy DChA, BSc (Hons), MSc

REGISTERED OFFICE : 46 The Halfcroft Syston Leicestershire LE7 1LD

COMPANY NUMBER : 01162279 (England and Wales) CHARITY NUMBER : 275637 AUDITOR:

Evolve Accountants and Business Advisors Ltd Unit 10 Phoenix Park Telford Way Coalville Leicestershire LE67 3HB

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

The Trustees present their annual report together with the audited financial statements for the year ended 31 August 2021.

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Structure Governance and Management

Constitution

The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 7 March 1974. Subsequently, new Articles of Association were adopted on 7 September 2018. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

The Trustees, who are also directors for the purpose of company law, and who served during the year were:

Mr A Mellor FBIM MCh, InstM Mr R Bailey MSc, C Eng Dr P O’Callaghan MB, BCh, BAO Mrs V Webber BSc, Dr J Widdowson BPharm, PhD MRPharmS Mr A Herbert BA(Hons) MSc (Resigned 17/11/2020) Mrs C Austin Dr JWD Baugh MA, MB BChir DA, MRCGP Mrs K Garnett LLB Law, LPC Law

Mr A Mellor, Mr R Bailey and Mrs C Austin retire by rotation at the AGM in January 2022 and are eligible to offer themselves for re-election.

None of the trustees has any beneficial interest in the company and there were no related party transactions during the year

Method of appointment or election of Trustees

The Board has the power to appoint additional trustees as it considers fit.

New trustees are sometimes already familiar with the practical workings of the charity, as it is normal practice to involve them in the work of the charity as volunteers before appointing them. However, some trustees are specifically sought for their skills or knowledge in certain areas.

Policies adopted for the induction and training of Trustees

During induction trustees are made aware of their duties and responsibilities as trustees. Information from the Charity Commission is provided, and additional training or induction is given as necessary depending on the individual roles to be performed.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)

Pay Policy for senior staff

The trustees have set a pay policy for senior staff. This aims to attract and retain key personnel.

Organisational structure and decision making

The trustees chaired by Alan Mellor, meet at regular intervals during the year to receive reports, monitor the company’s activities and take major decisions affecting its future development. The day-to-day work of the organisation is carried out by Diane Hardy, General Manager, with the help of four staff. Including trustees there are around fifty volunteers who give their time on a regular basis. The charity is an independent charity and is not part or any affiliation or umbrella group.

Risk Management

The Trustees have addressed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks. The risk management strategy is reviewed annually. The trustees have taken steps to see that trustees and staff have the necessary knowledge, expertise and responsibilities to help mitigate risk.

In relation to principle specific risks:

Objectives and Activities

The charity’s mission is to save lives and alleviate suffering through the provision of surplus medical resources to rural partner health units in sub-Saharan Africa. The aims are to collect surplus health care goods and medicines (donated and purchased), for the two-fold purpose of medical waste reduction and to send regular consignments of vital medical aid to rural health units across sub-Saharan Africa.

Activities for achieving objectives

The charity achieves this objective by processing donated medicines from pharmaceutical wholesalers and manufacturers. The balance of medicines required are purchased in the UK or overseas to supplement the needs of the medical units where necessary. An increasing amount of medicines are being purchased in Malawi and Tanzania from Action Medeor, a German non-profit wholesaler: these medicines are then transported within country to our partner health clinics in Malawi and in Tanzania.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)

Virtually all healthcare goods (HCGs) (e.g. surgical gloves, uniforms, small items of equipment etc) received are donated directly from companies offering their surplus products or through GP surgeries and the NHS nationwide.

The financial donations and grants received, and the other fundraising efforts by the staff and volunteers provide the necessary funds to cover the purchase of medicines and shipping costs.

The charity pays for the transport of healthcare goods from the GP surgeries and then sorts, stores and packages them along with donated and purchased medicines for dispatch to Africa. The charity liaises regularly with the medical units in Africa to ascertain their needs and aims to send regular consignments and also visit them on a rolling basis to assist with communication and understanding.

Inter Care produces dispensing protocol information sheets, which are sent out with the donated medical supplies. These aim to educate medical staff in Africa on up-to-date usage of prescribed medicines and also to draw attention to any particular problems which may occur.

Due to the current situation with coronavirus, Inter Care is purchasing more “in country” supplies from Action Medeor in Tanzania and Malawi. This is partly due to restrictions on exports and the lack of available airfreight due to a reduction in air travel. This will assist Inter Care in its objectives of providing vital medical supplies for around 100 health units in subSaharan Africa.

Dependence of Inter Care on donations in kind and volunteer help:

The time given by volunteers locally and throughout the UK who organise the collection of medical supplies is vital to Inter Care’s successful operations and is very much appreciated by the trustees. Special thanks go to the many Rotary Clubs and church congregations across the country that regularly support the charity. Around 40 volunteers including the 8 trustees provide unpaid support to the charity, for example by raising funds or assisting with screening and sorting medical supplies at our premises in Syston, near Leicester. Current Covid -19 regulations require particular care in the warehouse so only reduced numbers of volunteers are volunteering at any given time.

The trustees are aware of the Charity Commission’s general guidance on public benefit and have considered it when reviewing their aims and objectives and planning future activities. In line with charity accounts disclosure requirements, the trustees confirm that they have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievement and Performance

Medical supplies dispatched:

The charity dispatched 369 parcels of medical aid (355 in 2019/20) of 9,097 kg (9,485 kg in 2019/20); wholesale value £803,706 (£553,377 in 2019/20). One container was sent to Sierra Leone (January 2021). The value of the consignments has increased by 45% compared with 2019/20: this is due to the purchasing of more “in country” supplies from Action Medeor in Tanzania and Malawi to enable supplies to continue to be sent. Airfreight continues to be problematic. However, this is often the quickest and safest way of sending medicines – which we continue to do from the UK, particularly to West Africa.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)

Environmental Benefits:

The charity’s main sources of medicines are surplus (new) medicines donated by pharmaceutical manufacturers, some UK purchases, and in-country purchases of medicines from accredited local organisations. The re-use of surplus medicines prevents waste, conserves the energy and raw materials used in manufacture and avoids the use of energy that would otherwise be used in incineration. Purchasing medicines within the African countries we supply avoids the energy usage and carbon emissions associated with air freight from the UK. We will continue to maximise the use of donated medicines, use incountry purchases where appropriate and minimise UK purchases where possible.

Almost all of the charity’s HCG are obtained as surpluses from a variety of sources which again, conserves the energy and raw materials used in manufacture and avoids incineration and landfill. We will continue our efforts to increase the amounts of HCG we obtain from UK manufacturers, the NHS, the public and other donors to maximise the environmental benefits.

We now send consignments by container ship, both reducing costs and allowing us to send larger items of equipment. Air freight is still used for medicines dispatched from the UK warehouse to ensure prompt delivery and compliance with Good Distribution Practice (GDP) as defined by the terms of our MHRA licence. Sending goods by sea instead of by air reduces the carbon impact by a factor of around 37 times on a per tonne basis so we will continue to increase the use of shipping containers whenever possible.

Income generation:

Total cash income was £233,260, an increase from £225,681 in 2019/20. All members of the staff were furloughed at various stages throughout the period under review. However, all employees returned to normal working hours by 1st April 2021. The fundraising team consisting of Trust Fundraiser, Phil Riley and Community and Events Fundraiser, Claudia Coxon, has enabled the sustained and slight increase in income which was a remarkable achievement in the current circumstances. Overall expenditure was increased by 14% to £221,059 (£194,287 in 2019/20) which generated a 45% increase in consignment values sent to sub-Saharan Africa.

One Wish Project:

After receiving a grant of £50,000 from a family trust who were winding up their operation, it was agreed to create a project that was additional to the routine and sustained support provided by Inter Care. The project is designed to “make a difference” to each and every health unit which we currently support by granting “one wish” of a piece of equipment or other resource that would make a real difference to the work of each health unit. So far in the financial year ending 31st August 2021, we have granted 5 wishes at 4 hospitals and a Fistula Care Centre in Malawi. The wishes included equipment such as a patient vital signs monitor, operating theatre lamp, mattresses, wheelchairs etc. We intend to offer the One Wish Project to each and every health unit we currently partner with (approximately 100). We

Financial Review

The statement of financial activities for the year shows a surplus income of £20,201 (£39,394 surplus in 2019/20). As of 31st August 2021, the total reserves were £173,235 of which £169,040 were unrestricted reserves.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)

Reserves Policy

The charity will aim to maintain a minimum reserve level of £70,000. This is based around approximately 4 months operational costs and would more than cover the costs of a hypothetical wind-up of the charity, currently calculated at £25,000.

The total reserves we currently hold are higher than normal. This is due to receiving a grant of £50,000 from a Trust who have wound up their grant giving. This grant will be spent separately to our routine expenditure on a specific project known as the One Wish Project. Aside from that, as planned, the charity has increased its output to Africa, and this has reduced its remaining unrestricted reserves to £119,040.

Investment Policy

The charity anticipates that it will hold sufficient assets to fund planned expenditure over the next three years. Funds are held in a current account and in investment accounts where appropriate, with a maximum level in each of £85,000 (the current level covered by the Financial Services Compensation Scheme).

Going concern

With reserves at a healthy level, the trustees have a reasonable expectation that the charity has adequate resources to continue in the foreseeable future. Fundraising in the next few years could prove difficult, but with the decision to move the heavy and non time-sensitive health care goods by container whenever possible and only use airfreight for medicines, a close control on costs can be achieved.

Effect of Covid-19

The warehouse still has a reduced number of volunteers attending daily to ensure that Covid19 regulations for safe working are still in place. All 5 employees have undergone a period of furlough during this financial year but have been back in their current contracted hours since 1st April 2021.

We do not know if restrictions will come back in the next financial year so it is difficult to predict if operations in the UK will be directly affected. However, airfreight and sea freight are affected by not only Covid but also Brexit, a lack of haulage drivers and also the blockage during the year of a large container ship in the Suez Canal. This has made an impact on our efforts to send a container to Malawi during the summer of 2021. This was delayed until autumn 2021 because of a lack of availability on container ships and also blockages at the UK ports. Air freight has seen a dramatic rise in prices due to the reduction in flights going to Africa from the UK and cargo space having less availability. We hope that these challenges will be overcome in the next financial year.

RESPONSIBILITIES OF THE TRUSTEES

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing those financial statements, the trustees are required to:

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to 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, there is no relevant audit information of which the charitable company's auditors are unaware and the trustees have taken all the steps which they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

This report has been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Approved by order of the Board of Trustees on 10 January 2022 and signed on its behalf by:

Mr A Mellor FBIM, M Ch, Inst M – Chair of Trustees

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF INTER CARE LIMITED

YEAR ENDED 31 AUGUST 2021

Opinion

We have audited the financial statements of Inter Care Limited (the 'company') for the year ended 31 August 2021 which comprise the statement of financial activities, balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with Section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF INTER CARE LIMITED (Continued)

YEAR ENDED 31 AUGUST 2021

Opinions on other matters prescribed by the Charities Act 2011

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 the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the 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 assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Evolve Accountants and Business Advisors Limited Accountant & Statutory Auditor Unit 10 Phoenix Park Telford Way, Coalville

Leicestershire, LE67 3HB 10 January 2022

INTER CARE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

Note
INCOMING RESOURCES
Grants – HMRC JRS Grant
Donations and legacies
2
Other trading activities
3
Investment Income – Interest Received
Total Incoming Resources
RESOURCES EXPENDED
Costs of Raising Funds
4
Charitable Activities
5
Governance Costs
6
Total Resources Expended
Net Incoming/(Outgoing) Resources
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Total
Funds
2021
£
Total
Funds
2020
£
7,661
-
7,661
21,820
200,464
835,552
1,036,016
758,004
891
-
891
6,602
398
-
398
632
209,414
835,552
1,044,966
787,058
45,619
-
45,619
44,199
112,119
842,631
954,750
682,710
24,396
-
24,396
20,755
182,134
842,631
1,024,765
747,664
27,280
(7,079)
20,201
39,394
141,760
11,274
153,034
113,640
169,040
4,195
173,235
153,034

All incoming resources and resources expended derive from continuing activities.

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INTER CARE LIMITED

BALANCE SHEET AS AT THE YEAR ENDED 31 AUGUST 2021

Note
FIXED ASSETS:
Tangible assets
10
CURRENT ASSETS:
Stocks
Debtors
11
Cash at bank and in hand
CREDITORS:
Amounts falling due within one year
12
NET CURRENT ASSETS:
NET ASSETS:
FUNDS
13
Unrestricted Funds:
General fund
Designated Funds
Restricted Funds		 2021
£
-
5,931
5,051
167,080
178,062
(4,827)
173,235
173,235
69,040
100,000
4,195
173,235		 2020
£
-
3,382
7,588
147,974
158,944
(5,910)
153,034
153,034
41,760
100,000
11,274
153,034

The trustees are satisfied that the charitable company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

(i) ensuring that the charitable company keeps adequate accounting records which comply with section 386 of the Act, and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its surplus or deficit for the financial period in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.

The financial statements have however been audited as required by the Charities Act 2011.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

These financial statements were approved by the board and authorised for issue on 10 January 2022, and are signed on their behalf by:

Mr A Mellor FBIM, M Ch, Inst M - Trustee Company Registration Number 01162279

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INTER CARE LIMITED

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

1. ACCOUNTING POLICIES

Accounting Convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Incoming Resources

All income is recognised as Incoming Resources once the charitable company has entitlement to the income, it is probable that the income will be received and the amount can be measured reliably.

Legacies are recognised as receivable when probate has been granted in respect of the legatee’s estate.

Donated medical supplies given for distribution by the charitable company are recognised when dispatched as income and expenditure at the cost they would have incurred had they been purchased (based on the Drug Tariff). All donations of medical and general supplies are made to overseas projects.

Intangible income comprises donated services which are included at valuation of the estimated financial cost borne by the donor.

Grants receivable are accounted for in the period to which they relate.

Voluntary income is recognised upon receipt.

Investment income is included when receivable.

Other income is recognised in the period when it is receivable.

Resources Expended

Resources expended are included net of VAT on an accruals basis.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprise those costs associated with meeting the constitutional requirements of the charitable company.

Governance costs include those costs associated with meeting the statutory requirements of the charitable company including the strategic management.

As far as practical all expenditure is allocated directly to the above expenditure categories. Where direct allocation is not possible, costs are apportioned over the expenditure categories based on the analysis of division of staff time and other costs.

Grants payable to overseas projects are charged to the Statement of Financial Activities in the period to which they relate.

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INTER CARE LIMITED

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

1. ACCOUNTING POLICIES (Continued)

Tangible Fixed Assets

Fixed Assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Fixtures and fittings - 10% on cost Office Equipment - 20% on cost

Fixed assets costing more than £100 are capitalised.

A review of impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

As a charity, Inter Care Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Fund Accounting

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

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.

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INTER CARE LIMITED

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

1. ACCOUNTING POLICIES (Continued)

Going Concern

The trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make the assessment in respect of 12 months from the date of approval of the financial statements.

Company status

The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

Interest receivable

Interest of funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company, this is normally upon notification of the interest paid or payable by the bank.

Debtors

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

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of the investment starting.

Liabilities and provisions

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

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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INTER CARE LIMITED

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

1. ACCOUNTING POLICIES (Continued)

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

2. DONATIONS AND LEGACIES

Unrestricted
Funds
2021
Restricted
Funds
2021
£
£
Medical donations and
supplies
-
803,706
Donations and gifts
200,464
31,846
Legacies
-
-
Total donations and
legacies
200,464
835,552
Donations and Gifts
Unrestricted funds
Premises rent waived by landlord
General donations received
The Dromintee Trust
The Cotmore Trust
Souter Charitable Trust
Anonymous donations/grants and those under £3,000
The Brian Mercer Charitable Trust
The Leonard Trust
Keswick Enterprise Holdings Charitable Trust
Tula Trust
Schroder Charity Trust
Dr JA & Mrs BJ Heathcote
The Reed Foundation
Haramead Trust
Trefoil Trust
MPM Charitable Trust
W F Southall Trust
Total Donations and Gifts – Unrestricted Funds
Restricted funds
Zephyr Charitable Trust
Anonymous donations and grants under £3,000
Edwina Mountbatten& Leonora Children Trust
MPM Charitable Trust
The Leonard Trust
Beatrice Laing Trust
The Stafford Trust
Total Donations and Gifts – Restricted Funds		 Unrestricted
Funds
2021
Restricted
Funds
2021
£
£
-
803,706
200,464
31,846
-
-		 Total Funds
2021
Total Funds
2020
£
£
803,706
553,377
232,310
203,462
-
1,165
200,464
835,552		 1,036,016
758,004
2021
2020
£
£
8,000
8,000
69,508
68,904
20,000
20,000
50,000
3,000
3,000
3,200
32,956
16,008
5,000
-
-
3,200
-
4,000
-
3,000
-
5,000
-
3,000
-
3,500
-
10,000
4,000
-
5,000
-
3,000
-
200,464
150,812
£
£
5,000
5,000
13,646
27,650
5,000
5,000
-
5,000
3,200
-
5,000
5,000
-
5,000
31,846
52,650

-15-

INTER CARE LIMITED

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

3. OTHER TRADING ACTIVITIES

Book/Card sales
Events
4.
COST OF RAISING FUNDS
Rent and rates
Water, light and heat
Telephone/IT and website
Repairs and maintenance
Insurance
Wages and salaries
Depreciation
Fundraising costs
Pension costs
National Insurance
5.
CHARITABLE ACTIVITIES
Donated medicines and supplies by third parties
Purchase of medicines and materials
Parcel post and carriage UK
Parcel post and carriage Foreign
Waste disposal
Travel
Rent and rates
Water, light and heat
Telephone / IT and website
Stationery, office, postage and sundry
Repairs and Maintenance
Insurance
Payroll fees
Professional fees
License fees
Wages and salaries
National Insurance
Pension costs
Depreciation
-16-		 2021
£
2020
£
891
575
-
6,027
891
6,602
2021
£
2020
£
3,355
3,355
272
213
1,818
1,890
100
114
194
186
36,765
34,783
-
10
777
1,571
675
636
1,663
1,441
45,619
44,199
2021
£
2020
£
803,706
553,377
35,139
6,313
1,447
2,022
26,125
34,021
471
392
-
2,284
13,807
13,807
2,445
1,920
3,639
3,782
2,492
2,558
895
1,027
1,744
1,674
720
1,020
13
-
398
363
57,406
54,311
3,111
2,696
1,192
1,124
-
19
954,750
682,710

INTER CARE LIMITED

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

6. GOVERNANCE COSTS

Audit/Independent Examination Fee
Rent and rates
Training
Wages and salaries
National Insurance
Pension costs
Fundraising costs
ET SURPLUS/(DEFICIT) FOR THE YEAR
e net surplus/(deficit) is stated after charging:
Depreciation
Other operating leases		 2021
£
2020
£
2,500
1,416
838
838
1,955
485
17,386
16,448
1,244
1,078
432
407
41
83
24,396
20,755
2021
£
2020
£
-
29
18,000
18,000

7. NET SURPLUS/(DEFICIT) FOR THE YEAR

The net surplus/(deficit) is stated after charging:

8. TRUSTEES’ REMUNERATION AND BENEFITS

No Trustee received any remuneration or other benefits during the current or the previous year.

During the year no Trustees were reimbursed for out of pocket expenses (2020: 1 Trustee was reimbursed £92.)

9. STAFF COSTS

Wages and salaries
Social Security costs
Pension contributions		 2021
£
2020
£
111,557
105,542
6,018
5,215
2,299
2,167
119,874
112,924

The average monthly number of employees during the year was as follows:

Generating Funds
Charitable Activities		 2021
£
2020
£
2
2
3
3
5
5

No employee earned £60,000 per annum or more.

-17-

INTER CARE LIMITED

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

10. TANGIBLE FIXED ASSETS

Fixtures &
Fittings
£
Computer
Equipment
£
Totals
£
COST OR VALUATION:
At 1 September 2020
5,033
18,747
23,780
Additions
-
-
-
Disposal
-
-
-
At 31 August 2021
5,033
18,747
23,780
DEPRECIATION:
At 1 September 2020
5,033
18,747
23,780
Charge for year
-
-
-
Charge on disposals
-
-
-
At 31 August 2021
5,033
18,747
23,780
NET BOOK VALUE:
At 31 August 2021
-
-
-
At 31 August 2020
-
-
-
EBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
2020
£
Other debtors
3,737
6,126
Prepayments and accrued income
1,103
1,337
VAT
211
125
5,051
7,588
REDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
2020
£
Social Security and other taxes
1,719
1,163
Other creditors
476
404
Accrued expenses
2,632
4,343
4,827
5,910		 Fixtures &
Fittings
£
Computer
Equipment
£
Totals
£
5,033
18,747
23,780
-
-
-
-
-
-		 Fixtures &
Fittings
£
Computer
Equipment
£
Totals
£
5,033
18,747
23,780
-
-
-
-
-
-		 Fixtures &
Fittings
£
Computer
Equipment
£
Totals
£
5,033
18,747
23,780
-
-
-
-
-
-
5,033
18,747
23,780
5,033
18,747
23,780
-
-
-
-
-
-
5,033
18,747
23,780
-
-
-
-
-
-
2021
£
2020
£
3,737
6,126
1,103
1,337
211
125
5,051
7,588
2021
£
2020
£
1,719
1,163
476
404
2,632
4,343
4,827
5,910

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

-18-

INTER CARE LIMITED

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

13. MOVEMENTS IN FUNDS

At 1
September
2020
£
Unrestricted funds
General funds
41,760
Designated funds
100,000
141,760
Restricted fund
Restricted fund
11,274
153,034
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed assets
Cash at bank and in hand
Other net (liabilities)/assets		 At 1
September
2020
£
41,760
100,000		 Incoming
Resources
£
Outgoing
Resources
£
Transfers
£
At 31
August
2021
£
209,414
182,134
-
69,040
-
-
-
100,000		 Incoming
Resources
£
Outgoing
Resources
£
Transfers
£
At 31
August
2021
£
209,414
182,134
-
69,040
-
-
-
100,000
141,760
11,274		 835,552 -
169,040
842,631
-
4,195
153,034 1,044,966 1,024,765
-
173,235
Unrestricted
Fund
£
-
162,885
6,155		 Restricted
Fund
£
Total
£
-
-
4,195
167,080
-
6,155
4,195
173,235
169,040

-19-

INTER CARE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

INCOME AND ENDOWMENTS
Donations and legacies
Medical donations
Trust donations
General donations received
Legacies
Gifts in kind
Other trading activities
Book/Card Sales
Events
Investment and other income
Grants – HMRC JRS Grant
Deposit account interest
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Employers National Insurance
Pension
Rent & rates
Insurance
Water, light & heat
Telephone, IT & website
Postage & stationery
Repairs & maintenance
Donated medicines & supplies
Purchase of medicines & health care goods
Shipping UK
Shipping Overseas
Waste disposal
Travel
License fees
Payroll fees
Accountancy
Training
Professional fees
Fundraising costs
Computer equipment
Total resources expended
Net income/(expenditure)		 Unrestricted
Funds
£
Restricted
Funds
£
-
803,706
121,292
31,846
71,172
-
-
-
8,000
-		 Total Funds
2021
£
Total Funds
2020
£
803,706
553,377
153,138
126,558
71,172
68,904
-
1,165
8,000
8,000
200,464
835,552
891
-
-
-		 1,036,016
758,004
891
575
-
6,027
891
-
7,661
-
398
-		 891
6,602
7,661
21,820
398
632
209,414
835,552
111,557
-
6,018
-
2,299
-
18,000
-
1,938
-
2,717
-
5,457
-
2,492
-
995
-
-
803,706

22,339
12,800
1,447
-
-
26,125
471
-
-
-
398
-
720
-
2,500
-
1,955
-
13
-
818
-
-
-		 1,044,966
787,058
111,557
105,542
6,018
5,215
2,299
2,167
18,000
18,000
1,938
1,860
2,717
2,133
5,457
5,672
2,492
2,558
995
1,141
803,706
553,377
35,139
6,313
1,447
2,022
26,125
34,021
471
392
-
2,284
398
363
720
1,020
2,500
1,416
1,955
485
13
-
818
1,654
-
29
182,134
842,631		 1,024,765
747,664
27,280
(7,079)		 20,201
39,394

This page does not form part of the statutory financial statements -20-