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|||||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||||
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|||||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||||||
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||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|
##
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||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|
##
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##
|||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|
##
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||||||||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.|
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||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|
##
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||||2022|2021|
|---|---|---|---|---|
|FINANCIAL ASSETS|||||
|Financial assets measured|at fair value through|income and expenditure|1,744,369|1,227,037|
##
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##
|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|
##
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|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|
##
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|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|
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