| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe Company, | its Trustees and Advisers | ||
| Trustees' Report |
2-9 | |||
| Independent Auditors' |
Report | on the Financial Statements | 10-13 | |
| Statement of Financial | Activities | 14 | ||
| Balance Sheet | 15 | |||
| Statement ofCash Flows | 16 | |||
| Notes to the Financial | Statements | 17-31 |
| Trustees | J C F Hitchins | |||||
|---|---|---|---|---|---|---|
| SE Gill | ||||||
| D M Kemp-Gee | ||||||
| N Colquhoun | (resigned | 11June 2021) | ||||
| F H R McPhail | ||||||
| JSMonk (resigned 2 | September 2021) | |||||
| L Rutter (resigned 24 | June 2022) | |||||
| D L White | ||||||
| N A De Pulford | ||||||
| K Gilbraith (appointed |
21 January 2022) | |||||
| Company | registered | |||||
| number | 01435068 | |||||
| Charity registered | ||||||
| number | 278173 | |||||
| Registered | office | Hapstead Village |
||||
| Buckfastleigh | ||||||
| TQ11 OJN | ||||||
| Company | secretary | P L McDonald | ||||
| Chief executive officer | SWhittingham | |||||
| Independent | auditors | Bishop Fleming LLP |
||||
| Chartered Accountants |
||||||
| 2nd Floor Stratus House | ||||||
| Emperor Way | ||||||
| Exeter Business Park | ||||||
| Exeter | ||||||
| EX13QS | ||||||
| Bankers | National Westminster | Bank Plc | ||||
| South Devon Business | Centre | |||||
| Riviera House, | PO Box69 | |||||
| Nicholson Road |
||||||
| Torquay | ||||||
| Devon | ||||||
| TQ2 7YL | ||||||
| Solicitors | WBW | |||||
| Church House |
||||||
| Queen Street | ||||||
| Newton Abbot |
||||||
| Devon | ||||||
| TQ12 2QP |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| Note | |||||||
| Income from: | |||||||
| Donations and |
legacies | 14,198 | 1,625 | 15,823 | 22,778 | ||
| Charitable activities |
2,064,932 | 2,064,932 | 1,748,586 | ||||
| Investments | 16,086 | 16,086 | 7,809 | ||||
| Other income | 18,154 | 97,095 | 115,249 | 123,223 | |||
| Total income | 2,113,370 | 98,720 | 2,212,090 | 1,902,396 | |||
| Expenditure on: |
|||||||
| Raising funds | 827 | 827 | 1,716 | ||||
| Charitable activities |
1,654,009 | 125,829 | 1,779,838 | 1,750,373 | |||
| Total expenditure | 1,654,836 | 125,829 | 1,780,665 | 1,752,089 | |||
| Net movement | in funds | 458,534 | (27,109) | 431,425 | 150,307 | ||
| Reconciliation | offunds: | ||||||
| Total funds brought | forward | 2,742,607 | 67,615 | 2,810,222 | 2,659,915 | ||
| Net movement | in funds | 458,534 | (27,109) | 431,425 | 150,307 | ||
| Total funds carried | forward | 3,201,141 | 40,506 | 3,241,647 | 2,810,222 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Tangible assets | 12 | 1,546,107 | 1,627,618 | |||
| 1,546„107 | 1,627,618 | |||||
| Current assets | ||||||
| Stocks | 13 | 12,778 | 9,438 | |||
| Debtors | 14 | 78,564 | 69,962 | |||
| Cash at bank and | in hand | 1,744,369 | 1,227,037 | |||
| 1,835,711 | 1,306,437 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 15 | (140,171) | (109,939) | |||
| Net current assets | 1,695,540 | 1,196,498 | ||||
| Total assets less | current liabilities | 3,241,647 | 2,824,116 | |||
| Creditors: amounts | falling due after more | |||||
| than one year | 16 | (13,894) | ||||
| Total net assets | 3,241,647 | 2,810,222 | ||||
| Charity funds | ||||||
| Restricted funds | 18 | 40,506 | 67,615 | |||
| Unrestricted funds |
18 | 3,201,141 | 2,742,607 | |||
| Total funds | 3,241,647 | 2,810,222 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| F | F | ||||
| Cash flows from operating | activities | ||||
| Net cash provided by operating activities |
552,283 | 311,785 | |||
| Cash flows from investing | activities | ||||
| interest received | 3,012 | 3,387 | |||
| Proceeds from the sale oftangible fixed |
assets | 1,800 | |||
| Purchase of tangible fixed assets |
(23,380) | (33,714) | |||
| Net cash used in investing | activities | (20,368) | (28,527) | ||
| Cash flows from financing | activities | ||||
| Repayments of borrowing |
(14,583) | (14,714) | |||
| Net cash used in financing | activities | (14,583) | (14,714) | ||
| Change in cash and cash |
equivalents | in | the year | 517,332 | 268,544 |
| Cash and cash equivalents | at the beginning | ofthe year | 1,227,037 | 958,493 | |
| Cash and cash equivalents | at the end | of | the year | 1,744,369 | 1,227,037 |
| The notes on pages 17to 31 form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| f. | F | |||
| Donations | 14,029 | 1,625 | 15,654 | 15,947 |
| Legacies | 6,483 | |||
| Other income | 169 | 169 | 348 | |
| 14,198 | 1,625 | 15,823 | 22,778 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| E | f. | ||
| Fees received | 2,060,509 | 2,060,509 | 1,740,846 |
| Workshop sales | 4,423 | 4,423 | 7,740 |
| TOTAL 2022 | 2,064,932 | 2,064,932 | 1,748,586 |
| Unrestr&cted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022f | 2021 | ||
| Farm | rent | 13,074 | 13,074 | 3,053 |
| Bank | interest | 3,012 | 3,012 | 4,756 |
| 16,086 | 16,086 | 7,809 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| f. | F | |||
| Profit on sale offixed assets | 3,500 | 3,500 | 1,800 | |
| Solar energy income | 14,654 | 14,654 | 15,281 | |
| Covid-19 Grant Funding | 97,095 | 97,095 | 106,142 | |
| 18,154 | 97,095 | 115,249 | 123,223 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total | Total | ||
| directly | funds | funds | ||
| 2022f | 2022 | 2021 F |
||
| Charitable | activities | 1,779,838 | 1,779,838 | 1,750,373 |
| Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Activities | funds | funds | ||||||
| 2022 | 2022 | 2021 | ||||||
| E | F | |||||||
| Staff costs | 1,160,108 | 1,160,108 | 1,128,525 | |||||
| Depreciation | 104,891 | 104,891 | 119,594 | |||||
| Support of residents | 146,154 | 146,154 | 165,975 | |||||
| Medical expenses | 696 | 696 | 1,068 | |||||
| Cost offarm | and workshop | activities | 10,169 | 10,169 | 8,326 | |||
| Staff training | 3,344 | 3,344 | 2,804 | |||||
| Subscriptions | 8,500 | 8,500 | 12,165 | |||||
| Premises | 138,028 | 138,028 | 181,540 | |||||
| Motor and travel expenses | 21,064 | 21,064 | 26,855 | |||||
| Sundry expenses | 10,530 | 10,530 | 10,151 | |||||
| Printing, postage, telephone |
and | office | expenses | 27,245 | 27,245 | 31,255 | ||
| Accountancy | 9,900 | 9,900 | 9,080 | |||||
| Professional | fees | 8,856 | 8,856 | 8,532 | ||||
| Bank charges | 3,460 | 3,460 | 3,090 | |||||
| Additional COVID expenditure |
125,356 | 125,356 | 38,996 | |||||
| Siemens lease interest | 1,459 | 1,459 | 2,267 | |||||
| Governance | costs | 78 | 78 | 150 | ||||
| 1,779,838 | 1,779,838 | 1,750,373 | ||||||
| AUDITORS' | REMUNERATION | |||||||
| 2022 | 2021 | |||||||
| E | ||||||||
| Fees payable | to the company's | auditor | for the audit ofthe company's | |||||
| annual accounts |
6,650 | 5,500 | ||||||
| Fees payable | to the company's | auditor | in respect of: | |||||
| All non-audit | services not included | above | 3,300 | 2,750 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| F | |||||
| Wages and | salaries | 1,151,965 | 1,022,272 | ||
| Social security costs | 88,733 | 74,758 | |||
| Contribution | to defined | contribution | pension schemes | 29,849 | 31,495 |
| 1,270„547 | 1,128,525 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| No. | No. | |||
| Care and support staff | 30 | 34 | ||
| Farm and maintenance | staff | 4 | 3 | |
| Administrative | staff | 8 | 7 | |
| 42 | 44 |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Freehold | Motor | Fixtures and | ||
|---|---|---|---|---|
| property | vehicles f |
fittings | Total | |
| COST OR VALUATION | ||||
| At 1 February 2021 | 2,477,694 | 134,324 | 836,298 | 3,448,316 |
| Additions | 23,380 | 23,380 | ||
| At 31 January 2022 | 2,477,694 | 134,324 | 859,678 | 3,471,696 |
| DEPRECIATION | ||||
| At 1 February 2021 | 988,139 | 99,366 | 733,193 | 1,820,698 |
| Charge for the year | 48,079 | 21,074 | 35,738 | 104,891 |
| At 31 January 2022 | 1,036,218 | 120,440 | 768,931 | 1,925,589 |
| NET BOOK VALUE | ||||
| At 31 January 2022 | 1,441,476 | 13,884 | 90,747 | 1,546,107 |
| At 31 January 2021 | 1,489,555 | 34,958 | 103,105 | 1,627,618 |
| 2022 | 2021 | ||
|---|---|---|---|
| Farm | 575 | 797 | |
| Workshop | 3,750 | 2,915 | |
| Heating | oil | 8,453 | 5,726 |
| 12,778 | 9,438 |
| 2022 | 2021 | ||
|---|---|---|---|
| F | |||
| DUE WITHIN | ONE YEAR | ||
| Trade debtors | 70,189 | 59,222 | |
| Other debtors | 2,966 | 3,565 | |
| Prepayments | and accrued income | 5„409 | 7,175 |
| 78,564 | 69,962 |
| 15. | CREDITORS: AMOUNTS | FALLING DUE WITHIN | ONE YEAR | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Trade creditors | 50,318 | 36,520 | |||
| Other taxation and social | security | 17,330 | 18,757 | ||
| Obligations under finance |
lease and hire purchase | contracts | 14,896 | 15,585 | |
| Accruals and deferred income |
57,627 | 39,077 | |||
| 'I40,171 | 109,939 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Net | obligations | under | finance | lease | and | hire | purchase | contracts | 13,894 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| FINANCIAL ASSETS | ||||
| Financial assets measured | at fair value through | income and expenditure | 1,744,369 | 1,227,037 |
| STATEMENT OF FUNDS - C | URRENT YEAR | ||||
|---|---|---|---|---|---|
| Balance at 1 | Balance at | ||||
| February | Transfers | 31January | |||
| 2021 | Income | Expenditure | in/out | 2022 | |
| E | |||||
| UNRESTRICTED FUNDS | |||||
| DESIGNATED FUNDS | |||||
| Land and buildings | 1,489,555 | (48,079) | 1,441,476 | ||
| Maintenance programme |
7,757 | (7,676) | 81 | ||
| Vehicle fund | 34,958 | (21,074) | 13,884 | ||
| Hapstead development |
738,420 | (6,929) | 731,491 | ||
| Merryfield development |
15,000 | 15,000 | 30,000 | ||
| Furniture replacement |
38,181 | (38,181) | |||
| Fixture and fittings fund |
90,747 | 90,747 | |||
| 2,323,871 | (83,758) | 67,566 | 2,307,679 | ||
| GENERAL FUNDS | |||||
| General funds | 418,736 | 2,113,370 | (1,571,078) | (67,566) | 893,462 |
| TOTAL UNRESTRICTED | |||||
| FUNDS | 2,742,607 | 2,113,370 | (1,654,836) | 3,201,141 | |
| RESTRICTED FUNDS | |||||
| Ralph Brereton fund | 921 | 921 | |||
| Workshop | 84 | 1,623 | (473) | 1,234 | |
| Resident social activities | 213 | 213 | |||
| Weavery | 18 | 18 | |||
| Covid support funding |
66,379 | 97,097 | (125,356) | 38,120 | |
| 67,615 | 98,720 | (125,829) | 40,506 | ||
| TOTAL OF FUNDS | 2,810,222 | 2,212,090 | (1,780,665) | 3,241,647 |
| STATEMENT OF FUNDS - PR | IOR YEAR | ||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 February | Transfers | 31 January | |||
| 2020 | Income | Expenditure | in/out | 2021 | |
| F | E | E | F | ||
| UNRESTRICTED FUNDS | |||||
| DESIGNATED FUNDS | |||||
| Land and buildings | 1,530,934 | (48,013) | 6,634 | 1,489,555 | |
| Maintenance programme |
7,757 | 7,757 | |||
| Vehicle fund | 50,260 | (23,302) | 8,000 | 34,958 | |
| Hapstead development |
514,337 | 224,083 | 738,420 | ||
| Merryfield development |
15,000 | 15,000 | |||
| Furniture replacement |
38,181 | 38,181 | |||
| 2,156,469 | (71,315) | 238,717 | 2,323,871 | ||
| GENERAL FUNDS | |||||
| General funds | 500,000 | 1,794,879 | (1,637,426) | (238,717) | 418,736 |
| TOTAL UNRESTRICTED | |||||
| FUNDS | 2,656,469 | 1,794,879 | (1,708,741) | 2,742,607 | |
| RESTRICTED FUNDS | |||||
| Ralph Brereton fund | 1,245 | (324) | 921 | ||
| Workshop | 1,881 | (1,797) | 84 | ||
| Resident social activities | 253 | (40) | 213 | ||
| Weavery | 67 | (49) | 18 | ||
| Covid support funding |
107,517 | (41,138) | 66,379 | ||
| 3,446 | 107,517 | (43,348) | 67,615 | ||
| TOTAL OF FUNDS | 2,659,915 | 1,902,396 | (1,752,089) | 2,810,222 |
| SUMMAR | Y OF FUNDS - C | URRENT YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at 1 | Balance at | |||||
| February 2021 |
Income | Expenditure | Transfers in/out |
31January 2022f |
||
| Designated | funds | 2,323,871 | (83,758) | 67„566 | 2,307,679 | |
| General funds | 418,736 | 2,113,370 | (1,571,078) | (67,566) | 893,462 | |
| Restricted | funds | 67,615 | 98,720 | (125,829) | 40,506 | |
| 2,810,222 | 2,212,090 | (1,780,665) | 3,241,647 | |||
| SUMINARY OF FUNDS - PRIOR YEAR | ||||||
| Balance at | Balance at | |||||
| 1 February 2020 |
Income | Expenditure | Transfers in/out |
31 January 2021 |
||
| F | F | |||||
| Designated | funds | 2,156,469 | (71,315) | 238,717 | 2,323,871 | |
| General funds | 500,000 | 1,794,879 | (1,637,426) | (238,717) | 418,736 | |
| Restricted | funds | 3,446 | 107,517 | (43,348) | 67,615 | |
| 2,659,915 | 1,902,396 | (1,752,089) | 2,810,222 |
| ANALY | SIS O | F NET ASSETS BETWEEN FU | NDS -CURRENT YEAR | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| 2022 | 2022f | 2022 | |||
| Tangible | fixed | assets | 1,546,107 | 1,546,107 | |
| Current | assets | 1,795,205 | 40,506 | 1,835,711 | |
| Creditors | due | within one year | (140,171) | (140,171) | |
| TOTAL | 3,201,141 | 40,506 | 3,241,647 |
| ANALYSIS OF NET | ASSETS BETWEEN | FUNDS -PRIOR YEAR | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| 2021 | 2021 | 2021 | |||
| F | E | ||||
| Tangible fixed assets | 1,627,618 | 1,627,618 | |||
| Current assets | 1,238,822 | 67,615 | 1,306,437 | ||
| Creditors due within | one year | (109,939) | (109,939) | ||
| Creditors due in more than one year |
(13,894) | (13,894) | |||
| TOTAL | 2,742,607 | 67,615 | 2,810,222 | ||
| RECONCILIATION | OF NET MOVEMENT | IN FUNDS TO NET CASH FLOW | FROM OPERATING | ||
| 21. | ACTIVITIES | ||||
| 2022 | 2021 | ||||
| Net income for the year (as per Statement | of Financial Activities) | 431,425 | 150,307 | ||
| ADJUSTMENTS FOR: | |||||
| Depreciation charges |
104,891 | 123,886 | |||
| Gains on investments | (3,012) | (3,387) | |||
| Loss/(profit) on the sale offixed assets |
(1,800) | ||||
| (Increase)/decrease | in stocks | (3,340) | 885 | ||
| (Increase)/decrease | in debtors | (8,602) | 26,322 | ||
| Increase in creditors |
30,920 | 15,572 | |||
| NET CASH PROVIDED BYOPERATING ACTIVITIES | 552,282 | 311,785 | |||
| 22. | ANALYSIS OF CASH AND CASH EQUIVALENTS | ||||
| 2022 | 2021 | ||||
| F | |||||
| Cash in hand |
1,744,369 | 1,227,037 | |||
| TOTAL CASH AND | CASH EQUIVALENTS | 1,744,369 | 1,227,037 |
| At 1 | At 31 | |||
|---|---|---|---|---|
| February | January | |||
| 2021 | Cash flowsf | 2022 | ||
| Cash at bank and | in hand | 1,227,037 | 517,332 | 1,744,369 |
| Finance leases | (29,479) | 14,583 | (14,896) | |
| 1,197,558 | 531,915 | 1,729,473 |
| can | cellab | le o |
per | ating leases as follows: |
||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Not | later | than | 1 | year | 261 |