Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."56 GKIT IUTC *OI D Z12 P 1147 Registered number- 01636098 Charity number- 285214 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED (PARENTS AND CHILDREN TOGETHER) (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."57 GKIT IUTC *OI D Z12 P 2147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) CONTENTS Page Reference and administrativa dgtails of the Companyj Its Trustags and advisgrs Trustees. report Independent auditor's report on the financial Ststgmgnts Statement of financial activities 13-16 17- 18 Balance sheet 19-20 Statement of cash flows 21 Notes to the financial statements 22-45 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."57 GKIT IUTC *OI D Z12 P 2147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 This report by the Trustees, together with the audited financial statements of the charitable company, is for the year ending 31 st March 2022. It includes the Directors Report and the Trustees Annual Report. l. Reforenco and administrative details The Oxford Diocesan Council for Social Work Incorporated is a charitable company limited by Guarantee. incorporated on 17th May 1982 (Company number 1636098), and registered as a charity on 2nd September 1982 Icharily registration number 2852141. The charitable company is also known under its operating name of 'Parents And Children Together. hereafter referred to as 'PACT" At the balance sheet date, the company had no subsidiaries. The Registered Office (which is also the principal place of business) is at 7 Soulhem Court, South Street, Reading, Berkshire, RG1 4QS. The Ofsted Adoption Agency registration number is SC049093 and in the year under review the Responsible Individual registered with Ofsted in accordance with adoption legislation is Lorna Hunt. The Registered Manager registered with Ofsted in accordance with adoption legislation is Amanada Davies. Auditors James Cowper Kreslon. Reading Bridge House, George Street, Reading. Berkshire,RG1 8LS Bankers National Westminster Bank PLC, Charing Cross Commercial Centre. P.0. Box 39952, 2 112 Devonshire Square, London, EC2M 4XJ Insurers Markel IUKI Ltd, Verily House, 6 Canal Wharf. Leeds LS11 SAS Legal Advisers Blandy and Blandy, 1 Friar Street, Reading. Berkshire RG1 1 DA (General legal mallersl Griffiths Robertson, 7-11 Queen Victoria Street, Reading. Berkshire, RG1 1SY (Legal advi￿ relating lo adoption matters) Directors and trustees The directors of the charitable company I'lhe companrfl, who form the Executive Council of the charity, are its Iruslees for the purpose of charity law and throughout this report are collectively referred lo as trLJStees. Trustees serving during the year and since the year end are as follows.. Mr W. Cuell Mr E. Smatovs A.W.P. King Mr P.J. Sapwell (Resigned April 20221 Mrs S. Gibbons Mrs E. McAuley Mr P. Lewis Mr B. Kapp Mrs A. Andrews (Resigned January 20221 Ms K. Gelling Ms C. Clifford The Revd J. Sumner Mr Dean Hunter (Appointed April 20221 Chief Executive Officer.. Mrs N. van Vliet Page 1 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."57 GKIT IUTC *OI D Z12 P 4147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11. Structure, govemance. and management Governing Document PACT is a company limited by guarantee govemed by ils Memorandum of Association dated 17th May 1982, and amended on 16th May 1984, 25th January 2005, 19th September 2006, and 18th December 2009. Members of the company each guarantee lo contribute an amount not exceeding £1 to the assets of the company in the event of winding up. The total number of such guarantees al 31 st March 2022 was 11. Appolntment of Trustees The governing document provides that the President of the Company shall be the Lord Bishop of Oxford, and that the Chair of the trustees, who shall also be Chair of the Executive Council, shall be appointed by the Lord Bishop of Oxford. The Iruslees are members of the charitable company and the Iruslees may from time to time invite any person they think fil to become a member. The Company's Articles of Association imposes no limit to the number of Trustees. They also provide for a third of the Iruslees lo retire by rotation at the AGM, in which case they are eligible for re- election. The Articles give power lo the Executive Council lo vary the number of members of the Executive and gives the Executive Council power lo appoint additional members subject lo their signing the Register of Members and their endorsement by majority vole at the next Annual General Meeting. In the year lo 31 st March 2022 the Executive Council mel on four occasions, including the AGM. Due lo the reslriclions of the pandemic the Executive Council continued lo meet virtually using video conferencing facilities through the financial year, with one in person meeting in October. Trustee InductSon and tralnlng New trustees undergo an induction process and are given an induction pack. They are encouraged lo allend appropriate external training events, where these will facililale the undertaking of their role. Trustees also join staff and adoption panel members for panel training as part of their ongoing professional development. Governance structure Further lo the governance review in 2020 il was agreed that the sub committees would be incorporated in the Executive Council meetings. From 1 st January 2021 the Executive Council has mel quarterly and included the HR, Adoption and Communities Committee. Lead Trustee roles were introduced, with each member of the Executive Council having a specific business interest. The Lead Trustee and relevant member of SMT meet regularly and share updates at meetings of the Executive Council. Sub Committees A separate finance committee meets twice a year and a separate meeting is Convened lo focus on HR as required. These committees are made up of SMT, Iruslees and co-opted members, including those with relevant experience and expertise. These committees consider, make recommendations, and report lo the Executive Council on matters relating to HR and Finance. Adoption Panel The adoption agency operated wlh one Adoption Panel throughout the period. This panel is made up of independent lay and professional representatives. Due lo the restrictions of the pandemic the panel met virtually using video conferencing facilities through the financial year. Legal Adviser lo Adoption Panel Emily Boardman Medical Adviser Dr Efun Johnson Dr Rush Wickramasinghe Adoption Agency Adviser lo Panel Sarah Slollard Page 2 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."58 GKIT IUTC *OI D Z12 P 5147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Connected charitles PACT has a strong historical connection with the Diocese of Oxford and receives a grant from the Oxford Diocesan Board of Finance (registered charity no. 2479541. 111. Oblectlves and Actlvltles The objects of the company as ststed in the Memorandum of Association are.. al To promote the wellbeing of persons throughout the United Kingdom., bl To promote the care and welfare of adopted children by providing an approved adoption service and facililaling their adoption by suitsble persons. The main objectives for the year to further these objects are.. The provision of relief and support to children in need, their families and carers., To promote social inclusion and relive the needs of vunerable or disadavanlaged women and girls by providing support and assisting them to integrate into society., Such other purposes are charrtable according to the laws of England and Wales for the benefit of the public In setting objectives and planning activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular lo the guidance on fee-charging. The main areas of aclivty during the year lo achieve the objects and objectives were.. Adoption services - Building new families through adoption- the placement of looked after children from the care system. Some of these children will have experienced neglect andlor abuse. Adoption support - Providing support for adoptive families through our Strenlhening Families Team., Adopter Champions,. post-approval workshops., periodic newsletters,. family fun days,. activity events for adopted children and FACTS (Family and Children Therapeutic Service), a specialist multi-disciplinary team working holistically and therapeutically with children and families. Helping adopted adults access their birth records. The Adopter Hub - PACT'S innovative online platform providing support to adopters, foster carers, special guardians and the professionals that work with them. Bounce Back 4 Kids a specialist tsrgeled programme of support to children and families affected by domestic abuse. Alana House women's centre - Working in a group or individual selling to support vunerable women, those involved with, or at risk of becoming involved with the Criminal Justi￿ System. Role of Volunteers In addition lo our Trustees, PACT has a wide variety of volunteers contributing across all departments and services. Despite some volunteers leaving us during 2021-2022, al year end we had 37 volunteers and 11 Trustees. During 2021-2022, we ￿lebrated an increase of our volunteer student placements, developing our educational volunteering partnerships further. In connection with our university connections across Reading and London, we aim lo maintain the success and positive experiences shared by our previous volunteer students and develop this area of our volunteering scheme. In 2021-22, PACT supported 8 volunteer placements for workplace learning in psychology, social work, and play therapy students. In addition, we successfully supported 2 Duke of Edinburgh Award Scheme students for the first time. Our thanks go to all who have donated and given their lime lo PACT throughout 2021-22. Volunteers are an integral part of our organisation and we are delighted to have such a diverse group of people that contribute lo helping PACT achieve its aims and objectives. Page 3 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."58 GKIT IUTC *OI D Z12 P 6147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 IV. Achlevements and Performance Despite many existing and new external challenges PACT has continued to deliver our services and achieve our delivery targets in 2021-22. This has required tenacity and crealivily and importantly keeping our service users and beneficiaries in the centre of all of our decisions. PACT'S key achievements in 2021-22 include.. Finding families for 78 children Alana House supported 252 women through individual support lagainsl a target of 1151 with 83 of those women also accessing group support and a further 23 women (against a target of 301 accessed group only support. BB4K supported 67 children and 73 parents (representing 75 families) {against a largel of 62 individuals) and 13 children supported through play therapy which had a target of 10 Alana House was nominated for the Queen's Award for Voluntary Service Building good relationships with all the Regional Adoption Agencies IRAAS) in London and across the South East Launching a new staff intranet Positive results from internal staff surveys re satisfaction and motivation towards roles and objectives of PACT Receiving 286 enquiries lo the newly introduced Adoption Support duty system Estsblishing new Adoptee Voices groups for children and parents 3267 individual users and 36 partner organisalions on The Adopter Hub Launching a new refreshed PACT website and a new Adopter Hub website Securing £567k restricted core funding against a target of £518 Achieving unreslricled income of £222k against a largel of £185k Securing a place on JP Morgan's Force for Good programme lo drive forward a digital solution for Bounce Back 4 Kids families 177 referrals received to the FACTS service 160 enquiries to the birth records access service We couldn't achieve any of these without the commitment and resilience of our stsff and volunteers. Our teams have continued to work flexibly to ensure that services can be delivered. We couldn't be more proud of our entire PACT team. The Board of Trustees remain sincerely grateful lo our staff, volunteers, supporters. and our funders for their support during the year. Internal achivements and perforn)anee The results of our annual staff survey were again extremely positive. We have increased our headcounl in response lo expansion and growth. Alongside this, we have experienced exceptionally low voluntary staff turnover- less than 70/0 compared to 140/0 YE21. There have been no employee relations issues. Ensuring we continue to invest in our staff and organisational resilience is a priority and will continue to be so. We have progressed our ICT change programme across the organisalion significantly, including the launch of an intranet, and again, this will continue lo be a priority area. Alongside "business as usual" we have continued lo develop and invest in our business diversification, especially in the area of digital service delivery, growing our Adopter Hub offer and plans for domestic abuse support, as well as exploring other areas of service delivery. We have needed lo keep our ways of working continuously under review and have responded quickly to changes in government guidance about Covid-19 in order to keep our offices open and safe. Our future ways of working are being designed collaboratively, with everyone being given the opportunity to input ideas and feedback via staff surveys and team meetings. We finished the year with all Covid-19 restrictions having been lifted in England, however the challenges of Covid-19 remain. We continue to see more staff, volunteers and service users affected by Covid-19 and we are Page 4 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."59 GKIT IUTC *OI D Z12 P 7147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 continuing lo be cautious with our own service delivery and ways of working planning. Adoptlon 2021122 Our adoption teams have continued lo provide quality adoption services, finding families for 78 children. A significant achievement for the agency and life changing for these children. Vve are delighted with this joint effort across the teams. The marketing team have continued to focus on the recruilmenl of prospective adopters who are able to care for the children who wait the longest such as older single children and siblings alongside highlighting the benefits of adopting through a VAA. In 21122 our adoption enquiries exceeded their target with 1327 enquiries being received. PACT has built good relationships with all the Regional Adoption Agencies IRAAs} in London, across the South East and with a number of other RAAS and continues lo increase network opportunities and partnerships. The CEO and Service Director allend RA4 boards, working groups and forums. Following the request of Regional Adoption Agencies in London approaching PACT lo help them with some of their service delivery, PACT have now agreed a contract lo complete some non-agency assessments. Partnerships PACT has continued lo invest in partnership working, nurturing existing partnerships and developing new opportunities for collaborative working, including working with the University of Reading on two academic research studies. The servi￿ Director continues to lead the partnership working with Home for Good, resulting in some excellent referrals from this partnership, creating wonderful homes for adopted children. The Service Director chairs the Adopt Thames Valley RAA Governance Board and sils on the South East Partnership Board and also joined the Aspire RAA Board in the year. The CEO is a member of the Adopt South Governance Board, the London Adoption and Special Guardianship Leadership Board and the Adopt Thames Valley RAA Board. The Service Director also works closely with the five London RA4s. We have continued lo work with Local Authorities and RAAS on a 'spot purchase, agreement. PACT continues lo be an active member of the Consortium for Voluntsry Adoption Agencies, with the CEO being a member of the CVAA Board. Adoptlon Support The Adoption Support Service continued lo provide much needed support lo PACT families with involvement much earlier in the family's adoption journey due lo the children having more complexities and adopters needing support in managing these. The therapeutic social work support has been given to some adopters in the pre- placement stsge and lo others in the very early days following placement. The joint research project wilh Reading University Ilhe formal external evaluation into the effectiveness of the Adopter Champion service) was completed and a resultsnl report was produced which was very positive about the difference the service makes. Feedback about the service has included the following.. I truly believe your intervention saved our family. Our home is unrecognisable to how il was before. There is now joy and laughter Imosl of the timell with proper hugs and cuddles. With your help, I no longer feel alone and isolated. I have now found my mojo again. INamel is in a much better place emotionally now. We now see the funny, cheeky, loving little boy Inamel truly is. Thank youl" There have been a lolal of 286 enquiries since the Adoption Support duly system was introduced in May 2021. Enquiries come from Regional Adoption Agencies, PACT social workers and other professionals as well as from PACT families enquiring about a range of adoption support seNices. The 3 Adoptee Voices groups are now firmly established and meeting either virtually or face to face and a range of therapeutic activity events for children and parents have been provided with positive feedback. The Adoption Support Team have continued lo offer adopters monthly virtual coffee mornings and monthly support groups with Page 5 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.44."59 GKIT IUTC *OI D Z12 P 8147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 themes including, being a single adopter, helping lo deal with behaviours including Iwng and stealing and how lo deal with regression. A reference group for adopters has been established and has 16 members. The Adopter Hub Hub feedback.. webinar= Supporting children and young peoplg experiencing separation anxiety. °tThe presenlerl made this so easy lo understand and I will use some of her techniques in my practice when working with parents." Feedback from a ParenUCarer- "I have gotten a lol from a webinar this moming as the advice was invaluable.. It is a great tool and I highly recommend it." The Adopter Hub continued lo thrive throughout 2021122 with over 3000 people using the Hub al the end of the year. PACT was delighted lo re-launch the website improving the aeslhelics, user experience and monitoringl reporting functionality. In 2021122 there were 36 partner agencies subscribing lo The Adopter Hub, 37 new webinars and videos were produced and broadcast via the platform and new resources were added lo expand the support the Hub can offer for Foster Carers. The Adopter Hub Continued to be popular with external partners however several RAAS reduced their subscription numbers due to the reduction in covid related grants from the government and a change in regulation regarding the spending of ASF funding on digitsll e-services. The Hub did expand further into working with Virtual Schools with more signing up lo the platform and making the resources available to schools in their area. Alana House Despite the challenges of Covid-19 Alana House service delivery remained face lo face with some additional mitigations in place to reduce risk of transmission. This was a significant achievement considering many services either reduced their services or only offered remote support. We look this approach given the escalating needs of service users and the increase in women presenting in crisis. We continued lo work in partnership with a number of agencies both operationally and slralegically. The Head of Communities continues lo allend Reading's Community Safely Partnership Board,. Thames Valley Reducing Reoffending Board lincluding the Women's subgroup board) and various Domestic Abuse Boards throughout Berkshire. A key priority for Alana House was to enhance our Criminal Justice System work through partnerships with the National Probation Service INPSI., Thames Valley Police and Office of the Police and Crime Commissioner IOPCCI. In Year End 2022 we secured the Ministry of Justice 'Communily Rehabilitation Service, contract Isul> contractor lo Advance) resulting in closer working with NPS., expanded our Out of Court Disposals IOOCDI work across Berkshire with Thames Valley Police and received funding from the OPCC for to support women affected by domestic abuse. Further successful partnerships with slatulory partners led lo significant funding being secured from Brighter Futures for Children and Reading Borough Council who are key referral partners for the service. Embedding engagement of women with lived experiences in the delivery and development of services continues lo be a prime focus for the service. One ex-service user, who has experience of the criminal justice system, has become a volunteer and, in addition to service user forums, we continue lo explore how we can grow the engagement of women with lived experience in the delivery and development of services. Funding for the service consisted of 439/0 from National Government., 340/0 from Local Government and 230/0 from independent trusts, foundations and donations. Page 6 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 I2.45￿0 GKIT IUTC *OI D Z12 P 9147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Bounce Back 4 Klds Bounce Back 4 Kids service delivery took a hybrid approach with the continuing impact of Covid-19. Service delivery for children largely remained face lo face (including play therapy) bul parents responded well lo remote service provision with more parents attending online groups when compared lo face to face delivery. As impact and outcomes do not seem lo be affected by remote delivery, we expect this will continue where appropriate. Strong relationships have been forged with the Office of the Police Crime Commissioner, Brighter Futures for Children, West Berkshire Council and Turnaround Families all of which are key funders and l or referral partners. The Head of Communities continues lo attend Domestic Abuse Board meetings in the geographical regions where we have delivery. In addition to the team delivering a number of group programmes we were pleased to be able to facilitate a second group for children aged Under 5 years and their parent I carer following the pilot the year before. PACT was successful in securing a place on JP Morgan's Force for Good initiative in 21122. This provided digitsl skills and expertise alongside lime from JP Morgan's work force lo create and produce a digitsl resource. PACT used the opportunity to start work on Bounce, an online support tool for children and parents recovering from domestic abuse. This project will conclude with JP Morgan in June 2022 and PACT hope lo launch the platform by YE23. Funding for the service consisted of 230/0 from National Government,. 380/0 from Local Government and 390/0 from independent trusts, foundations and donations. Page 7 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 I2.45￿0 GKIT IUTC *OI D Z12 P 10147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Fundraising and Income Generation PACT would like lo thank all those who have contributed lo the organisation through 2021122. This includes all those who attended a PACT event, all our regular givers, marathon runners, one off donors, businesslcorporale partners, community organisalions and Irusls. Through their support PACT has been able lo continue lo support hundreds of beneficiaries throughout the year. Thank youl PACT successfully achieved and exceeded the reslricled fundraising tsrgels for Alana House and Bounce Back 4 Kids Icommunities projeclsl. The combined tsrgel was £355k and the final income amount was £430k. PACT is able to roll over the surplus income into the following year lo support next years delivery as well as consider some additional in-year investment lo support the development of the service and contribute to service user outcomes. The other reslricled tsrgel for Adoption Support was set al £155k and PACT achieved a total income of £143k. Despite not hitting this target none of the services provided via the Adoption Support team were impacted. PACT'S unrestricted fundraising income target was increased from £135k in YE21 10 £187k for 2021122 and the final amount secured was over £220k. PACT has many regular funders that have donated and made this achievement possible. Amongst many new funders, this target was enabled via new investment and support from the David Brownlow Charitable Trust. The additional unreslricled income has enabled PACT lo invest in some vital roles lo further develop the charity and its services. Income generated from stslutory partners buying subscriptions to The Adopter Hub reduced from £259k in 20121 10 £207k in 21122. Despite this change the number of partners has mostly stayed the same as a few partners didn't renew their membership bul other new partners have been signing up within the year. The main reason for the reduction has been the change made by government allowing partners lo ulilise the Adoption Support Fund lo pay for digilall virtual support for adopters. Marketing and Communications Adopter recruitment activities were targeted al prospective parents who could meet the needs of the children wailing and we continued lo generate a higher than average number of enquiries. Information events continued online bul we attended a small number of in-person publicity events. The events team organised a service to celebrate Inlemalional Women's Day and a Garden Party both of which raised funds for Alana House. New websites were successfully launched for both The Adopter Hub and PACT. The latter incorporated a self- selection tool and integrated forms for both adoption enquiries and job applications. An intranet for the organisalion, PACT Connect was launched in March and has re￿iVed excellent feedback. Rlsk Management The charity maintains a Risk Register, which is updated each month by the SMT and submilled lo the trustees lo monitor against the strategic objectives set out in the Business Plan. The Risk Register is reviewed at each Board meeting. The Iruslees are satisfied that systems and procedures are in place lo miligale those risks identified in the Risk Register. The key risks identified for 2022123 are.. The number of placements will fall short of the target The ongoing impact of Covid-19 pandemic will negatively impact on service delivery Risk of fundraising targets for YE23 not being achieved LGPS (Local Government Pension Scheme} Provision weakens balance sheet to the extent that funding is impacted materially The changes lo the cost of living wll negatively impact on our staff and service users and beneficiaries Page 8 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4501 GKIT IUTC *OI D Z12 P 11147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The Board of Trustees and Senior Management Team will continue lo monitor and review these risks, taking mitigating action as required. Financial Review Totsl Income for the charity increased by £72,599 to £4,332.75312021'. £4,260,154). PACT is grateful to the Department for Education for its support received during the year of £333,333 for PACT'S continuing work with Adoption. PACT'S total expenditure increased by 110/0 over the prior year, to £4,210,71812021.' £3,777,744}. An operating surplus before pension provisions of £126,373 arose 12021.. surplus £490,966). Staff costs accounted for 710/0 of total expendilure12021'. 70Q/ol. The operational surplus was increased by the valuation of the PACT share of the Local Government Pension Scheme I'LGPS") al the year end. The scheme deficit, calculated in accordance with Charities SORP IFRS 102}, decreased by £603,000 10 £3,025,000 from £3,628,000 {2021.' increased by £1,405,000). Nel assets before the pension provision stood al £4,074,626 12021.. £3,807,253} and £1,049,626 12021= £179,253} after the pension scheme provision. Operatlng & Investment Restrlctlons The company may not undertake any permanent trading activities in raising funds for its primary charitable objects. The company may invest monies "not immediately required for ils purposes in or upon such investments, securities or property as may be thought fit, subject nevertheless to such condition Irf any) and such consents lif any) as may for the lime being be imposed or required by law" las per the Memorandum of Association}. Currently all liquid investments are held in Deposit Accounts or Common Investment Funds with CCLA, who have clearly defined ethical investment policies. Reserves Pollcy Reserves or 'Free reserves" are defined as unrestricted funds available for spending and are therefore calculated by taking the total unreslricled funds of a charity and deducting any balances not available for spending (such as assets, inveslmenls, and designated funds). The actual level of reserves is monitored regularly., the accounts presented as part of the Board Pack for Trustee meetings include a reseNes slalement. The °sufficienl level of reserves. is the costs for completing current adoption activity in any given year to enable an effective wind down of service. The related costs would include redundancy costs, CEO and Service Director salaries for 6 months as well as a further 50Q/o, and the Iruslees are satisfied that this is the case. In setting policy, the trustees have considered various requirements, namely.. That a sufficient level of reserves is required by law to ensure that any current adoption activity can be completed should the charty be unable lo continue lo operate. That the charity is obliged to undertake an external annual audit of finances and accounts and that the Auditors produce an annual audit report setting out the financial health of the organisation and confiming the charity is a going concern for the next 12 months. The value of Unrestricted funds was £3,273,631 12021.. £2,990,525) of which £1,954,471 (2021.. £1,968,801) represents Fixed Assets for operational use. Therefore, the free reserves were £1,319,160 (2021.. £1,021,724). It is noted that the pension provision for the Local Government Pension Scheme at 31st March 2022 was £3,025,00012021.. £3,628,000) and this could be considered to reduce the free reserves. However, this provision Page 9 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4501 GKIT IUTC *OI D Z12 P 12147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 has been calculated according to International Accounting Standard 19 and the Trustees consider this will not crystsllise within the near future. The Trustees also note that this method of valuation is likely lo be more than any actual valuation made by the Pension Fund themselves. The cash repayment requirement during the next 12 months is £17,736 12021: £17,120) and is therefore considered to have a minimal effect on the free reseNes figure. vi. Plans for future eriods Year End 2023 We have agreed that YE23 will be an investment year for PACT, laying the foundations for our next strategic plan, which we will be developing over the course of the next 12 months. Whilst we know there is uncertainty ahead, we are confident that we have robust plans and monitoring in place and that our organisalion is in a healthy position. We will continue lo closely monitor our progress through the year and respond accordingly. Page 10 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45rfR GKIT IUTC *OI D Z12 P 13147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Res onslbllltles of the TrusteeslDlrectors In relatlon to the flnanclal statements The Iruslees (who are also directors of PACT for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the company for the year. In preparing these financial stalemenls, the Iruslees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities Statement of Recommended Practi￿ ISORPI- make judgements and estimates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements. prepare the financial slalements on the going concem basis unless it is inappropriate lo presume that the charitable company will continue in operation. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them lo 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 tsking reasonable steps for the prevention and detection of fraud and other irregularities. Page11 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45rfR GKIT IUTC *OI D Z12 P 14147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 As far as the Iruslees are aware.. there is no relevant audit information of which the charitable companys auditor is unaware- and the trustees have taken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditors A resolution will be proposed at the Annual General Meeting that James Cowper LLP be re-appointed as auditors for the 2022-23 financial period. This report has been prepared in accordance with the Special provisions of Part 15 of the Companies Act 2006 relating lo small companies, and with the Financial Reporting Standard for Smaller Entities leffective April 20081. Approved by order of the members of the board of Trustees and signed on their behalf by.. WÈ&c￿l 11 N￿￿￿12￿4￿20￿1FwTOtol Mr W Cuell Chair of Trustees Dale.. 11 November 2022 Page 12 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4503 GKIT IUTC *OI D Z12 P 15147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED Opinion We have aLJdiled the financial statements of Oxford Diocesan COLJncil for Social Work IncorF)orated (the 'charitable company'l for the year ended 31 March 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel- In our opinion the financial statements.. give a true and fair view of the slate of the charitable company's affairs as at 31 March 2022 and of ils incoming resources and application of resour￿8, including ils income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII 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 charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethic81 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 lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companls ability lo continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Page 13 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4503 GKIT IUTC *OI D Z12 P 16147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED ICONTINUEDI 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 Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the financial statements themselves. 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 lo report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion.. the information given in the Trustees, report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl 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 lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable companls ability lo continue as a going concem, disclosing, as applicable, mallers related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or lo cease operations, or have no realistic alternative bul to do so. Page 14 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45rfN GKIT IUTC *OI D Z12 P 17147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED ICONTINUEDI Auditorfs responsibilities for tha audit of tho financial statements We have been appointed as aLJditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement, 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, bLJt is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 lo influence the economic decisions of users taken on the basis of these financial statements. Because of the inherent limitations of an audit, there is a risk that we wll not detect all irregularities, including those leading lo a material misslatemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The specific procedures for this engagement that we designed and performed to detect material misslalements in respect of irregularities, including fraud, were as follows.. Enquiry of management and those charged with governance around actual and potential litigation and claims; Enquiry of management and those charged with governance lo identify any material instances of non- Complian￿ with laws and regulations., Reviewing financial ststemenl disclosures and lesling lo supporting documentation to assess compliance with applicable laws and regulations., Performing audit work to address the risk of irregularities due to management override of controls, including testing of joumal entries and other adjuslmenls for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewng accounting estimates for evidence of bias. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uklauditorsres onsibilities. This description foms part of our Auditor's report. Page 15 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4505 GKIT IUTC *OI D Z12 P 18147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED ICONTINUEDI Use of our report This report is made solely lo the charitable companvs trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charitable companys Iruslees those matters we are required lo slate to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work. for this report, or for the opinions we have formed. Pe Alexander Peal BS¢lHonsl FCA DChA {Senior statutory auditor) for and on behalf of James Cowper Kreslon Chartered A¢countsnls and Statutory Auditor Reading Bridge House George Street Reading Berkshire RG1 8LS Dale.. 22 Novernb8r 2022 James Cowper Kreslon are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 16 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 I2.45￿6 GKIT IUTC *OI D Z12 P 19147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Restricted Endowment funds funds 2022 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activities Other trading activities Investments 209,843 3,138,697 13.329 2.089 333,333 635,462 543,176 3,774,159 13.329 2.089 422,496 3,827,916 6,683 3,059 Total income 3,363,958 968,795 4,332,753 4,260,154 Expenditure on: Raising funds Charitable activities 165.364 2,792.358 165.364 4,045.354 131,052 3,646,692 1,252.996 Totsl expenditure 2,957.722 1,252.996 4,210.718 3,777,744 Nel gains on investments 4.338 4.338 8,556 Net incomgl {gxpenditurel Transfers between funds Net movement in funds before other recognised gainsl (losses) 406.236 {284.201) 4.338 126.373 490,966 18 {264.130) 284.201 120.071) 142.106 115.733) 126.373 490,966 Other recognised gainsl (losses): Gains on revaluation of fixed assets 673,887 Actuarial gainsl Ilossesl on defined benefit pension schemes 25 744.000 744.000 11,322,000) Net movement in funds 886.106 115.733) 870.373 1157,1471 Reconciliation of funds: Totsl funds brought forward Nel movement in funds {637.475) 886.106 816.728 115.733) 179.253 870.373 336,400 1157,1471 Total funds Carried forward 248.631 800.995 1,049.626 179,253 Page 17 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 I2.45￿6 GKIT IUTC *OI D Z12 P 20147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 22 to 45 form part of these financial statements. Page 18 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4507 GKIT IUTC *OI D Z12 P 21147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) REGISTERED NUMBER: 01636098 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Fixed assets Tangible assets Investrnenls 13 14 1,900.244 54,227 1,918,912 49,889 1,954.471 1,968,801 Current assets Stocks 15 699,604 1.074,218 1.056,347 580,245 392,919 1.629,419 Debtors Cash at bank and in hand 16 2.830,169 2.602,583 Creditors.. amounts falling due within one year 17 1710,0141 1764,131 } Net current assets 2,120.155 1,838,452 Defined benefit pension scheme liability 25 13,025,000) 13,628,000) Total net assets 1,049.626 179,253 Charity funds Endowment funds Unreslricled funds 18 800.995 816,728 Designated funds General funds Revaluation reserve 18 18 263,168 2.122,145 888,318 266,822 1,835,385 888,318 Unrestricted funds excluding pension asset Pension reserve 18 3,273,631 (3.025,0001 2.990,525 13,628,000) 18 Total unrestricted funds 18 248.631 1637,4751 Total funds 1,049.626 179,253 Page 19 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.451>8 GKIT IUTC *OI D Z12 P 22147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) REGISTERED NUMBER: 01636098 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2022 The entity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the reqLJiremenls of the Act wrf(h respect lo aecounting records and preparation of financial slalements. The financial statements have been prepared in accordance wth the provisions applicable to entities subject lo the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by= L)al NO¥￿￿3124￿￿GMrilrrC *D) Mrw Cuell Chair of Trustees Dale.. 11 November 2022 The notes on pages 22 to 45 form part of these financial statements. Page 20 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.451>8 GKIT IUTC *OI D Z12 P 23147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Not8 Cash flows from operating activities Nel cash used in operating activities 21 1521,5211 1,051,176 Cash flows from investing activities Purchase of tangible fixed assets Interest received (53,6401 2,089 182,1191 3,059 Net cash used in investing activities (51,5511 179.060) Cash flows from financing activities Change in eash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 1573,0721 1.629,419 972.116 657,303 Cash and cash equlvalents at the end of the year 22 1.056,347 1,629,419 The notes on pages 22 to 45 form part of these financial statements Page 21 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4509 GKIT IUTC *OI D Z12 P 24147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policias 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in 8c¢ordance with the Financial Reporting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Oxford Diocesan council for Social Work Incorporated meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant accounting policy. 1.2 Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. 1.3 Income The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Company, can be reliably measured. Voluntary income Income from donations, grants of a core funding or general nature, and legacies. are included in incoming resources when these are receivable, there is entillemenl, probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when.. the donor specifies that the grant or donation must only be used in future accounting periods',or the donor has imposed conditions which must be mel before the company has unconditional entillemenl. When donors specify that donations are for particular reslricled purposes, which do not amount lo p￿-conditIOnS regarding entillemenl, this income is included in incoming resources of restricted funds when receivable. 1.4 Volunteers The value of services provided by volunteers is not incorporated into these financial statements, as this is not quantifiable. 1.5 Government grants Government grants relating lo tangible fixed assets are treated as deferred income and released lo the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred. Page 22 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."10 GKIT IUTC *OI D Z12 P 25147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policias Icontinuodl 1.6 Exponditur8 Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not allributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on direcdy undertaking the activities which further the Companls objectives, as well as any associated support costs. Costs of generating funds are costs incurred in allracling voluntary income. and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the companls operations, including support costs and costs relating to the governance of the company apportioned lo charitable activities. Resources expended are accounted for on an accruals basis. The irrecoverable element of V.A.T. is included within the item of expense lo which it relates. costs of raising funds are those costs incurred in allracling voluntary income, and those incurred in trading activities which raise funds. charitable activities includes expenditure associated with the provision of adoption & fostering services, and with a range of community projects, and includes both direct costs and support costs relating to these aclivilies. governance costs include those incurred in the governance of the charity and f(s assets, and are primarily associated with constitutional and statutory requirements. where possible costs have been charged directly to the project or cost heading concerned. Support costs have been apportioned lo charitable activib.es on the basis of eslimaled use of those resources in support of those acts"vilies. 1.7 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Page 23 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."10 GKIT IUTC *OI D Z12 P 26147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policias Icontinuodl 1.7 Tangible fixed assgts and dgprgciation Icontinuodl Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Ljsing the straight-line method. Depreciation is provided on the followng bases.. Freehold land Freehold buildings Over 50 years Building improvements Over 50 years IT equipment Over 3 years offi￿ equipment and furniture &- Over 4 years fixtures Partitioning and other internal building work Over 7 years The value of the freehold office buildings at 2 and 7 Southern Court, South Street, Reading, were assessed by the trustees as being split into 35,/0 for the land and 65'/o for the building. 1.8 Revaluation of tangible fixed assets The company has adopted the revaluation model lo revalue items of propety whose fair value can be measured reliably. The revaluations shall be made with sufficient regularity lo ensure that the carrying amount does not differ materially from that which would be determined using fair valLJe at the end of the reporting period. The fair value of land and buildings is usually determined from markel-based evidence by appraisal that is normally undertaken by professionally qualified valuers. 1.9 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured al fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLosses} on investments, in the Statement of financial activities incorporating income and expenditure account. 1.10 Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company., this is normally upon notification of the interest paid or payable by the Bank. 1.11 Work in progress Work done in approving and matching prospective adopters is recognised at the lower of cost and net realisable value. Consideration is given to the likelihood of a placement not being forthcoming and provision is made accordingly. 1.12 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Page 24 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."11 GKIT IUTC *OI D Z12 P 27147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policias Icontinuodl 1.13 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investrnenls with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.14 Liabilities and Provisions Liabilities and provisions are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates il wll pay to settle the debt or the amoLJnt it has received as advanced payments for the goods or ServI￿S it musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the liability- The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 1.15 Pensions The financial statements take account of the share of the underlying deficit in the Royal County of Berkshire Pension Scheme, in accordance with the Charities SORP IFRS 1021. This is shown as a liability in the balance sheet and is represented by the pensions reserve. The current service cost, expected return on pension scheme assets. interest on pension scheme liabilities and loss]Igainl on curtailments & settlements are within the "expenditure" and "other gains and losses" sections of the financial statements. Actuarial gains and losses are recognised in the gain and losses section of the SOFA. More details are included in note 25 to these accounts. 1.16 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance wlh specific reslriclions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 25 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."11 GKIT IUTC *OI D Z12 P 28147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Judgements in applying accounting policies and key sources of astimation uncertainty The preparation of the financial statements requires the charity to make judgements. estimates and assLJmplions that affect the amounts reported for assets and liabilities as al the balance sheet dale and the amounts reported for income and expenses during the year. However, the nature of estimation means the actual outcomes could differ from those eslimales. The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements. Critical accounting eslimales and assumptions.. Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a nLJmber of factors. Accrued expenses Accrued expenses are estimated by the charity based upon past experience, with kno￿edge of known issues at the balance sheet date, and management information available after the balance sheet date, in respect of matters for which the charity is confident there will be an OLJtflow of economic benefit. Retirement benefits VarioLJS assumptions are made in reporting the performance of the charitls share of the pension scheme. A valuation is carried out for reporting PLJrposes by a qualified independent actuary. The principal actuarial assLJmplions made are disclosed in note 25. Allocation of expenditure Where expenditure is not directly attributable lo activity categories or funds, costs are apportioned on the basis of staff numbers or by reference to the proportion of resources ulilised. Income from donations and legacies Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Donatior)s 141,276 3,367 65,200 141,276 3,367 65,200 333,333 102,726 Legacies Grants 65,200 254,570 Government grants 333,333 209,843 333,333 543,176 422,496 Page 26 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."12 GKIT IUTC *OI D Z12 P 29147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income from charitabla activities Unr8Strict8d Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Funding for Alana House Children in Need Grant 444,358 56,353 47,614 87,138 444,358 56,353 47,614 87,138 408,778 Ministry of Justi￿ Grants Other Grants 145,812 635,463 635,463 2.556,383 582,314 554,590 2,544,509 728,817 Inter-agency placement fees Other fees 2,556,383 582,314 3,138,697 3,138,697 3,273,326 3,138,697 635,463 3.774,160 3,827,916 Income from other trading activities Income from fundraising events Unrestricted funds 2022 Total funds 2022 Total funds 2021 Other fundraising income 13,329 13,329 6,683 13,329 13,329 6,683 Investment income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Dividends and interest 2,089 2,089 3,059 2,089 2,089 3,059 Page 27 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."13 GKIT IUTC *OI D Z12 P 20147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Expanditure on raising funds Costs of raising voluntary income Unrestricted funds 2022 Total funds 2022 Total funds 2021 other fundraising costs Fundraising staff costs - gross wages Fundraising staff costs - Nl Fundraising staff costs - pension 55,012 97,932 6,849 5,571 55,012 97,932 6,849 5,571 43,858 77,651 5,492 4,051 165,364 165,364 131,052 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2022 Restricted funds 2022 Total 2022 Totsl 2021 Adoption Community projects Governance costs 2,669,093 685,601 567,395 3.354,694 567,395 123,265 2,962,438 494,561 189,693 123,265 2,792,358 1,252,996 4.045,354 3,646,692 Page 28 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."14 GKIT IUTC *OI D Z12 P 21147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of expenditur8 by activities Direct costs 2022 Support costs 2022 Total funds 2022 Total funds 2021 Adoption Community projects Governance costs 2,358,124 391,880 70,921 996,570 175,515 52,344 3.354,694 567,395 123,265 2,962,438 494,561 189,693 2,820,925 1,224,429 4.045,354 3,646,692 Analysis of support costs Community Governance projects costs 2022 2022 Total funds 2022 Tol81 funds 2021 Adoption 2022 Finance, personnel & reception costs 269,067 128,553 188,480 410,470 47,992 22,930 33,619 70,974 10,385 4,962 7,275 15,843 12,000 327,444 156,445 229,374 497,287 12,000 271,564 144,073 297,079 447,714 12,340 Marketing and fundraising Chief executives office IT. operations and facilities Audit fees AGM and executive council Costs 568 568 1,078 974 Bank charges 1,311 1,311 996,570 175,515 52,344 1,224,429 1,174,822 10. Auditorfs remuneration 2022 2021 Fees payable to the Company's auditor for the audit of the Companls annual accounts 10,200 9,700 Page 29 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."14 GKIT IUTC *OI D Z12 P 22147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Staff costs 2022 2021 Wages and salaries Social security costs Contribution to defined contribution pension schemes Contribution to defined benefit pension schemes 2.498,633 231,038 110,672 159,000 2,214,189 210,393 96,895 125,000 2.999,343 2,646,477 The average number of persons employed by the Company during the year was as follows.. 2022 No. 2021 No. Full time 35 31 Part time 55 48 90 79 Adoption & fostering Community projects Support services 47 45 15 28 22 90 79 The average headcount expressed as full-lime equivalents was.. 2022 2021 Full time 31 31 Part time 35 28 66 59 Adoption & fostering Community projects Support services 35 10 21 16 66 59 Page 30 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."15 GKIT IUTC *OI D Z12 P 23147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Staff costs Icontinu8d) The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2022 No. 2021 No. In the band £60,001- £70,000 In the band £70,001 - £80,000 In the band £80,001 - £90,000 In the band £90,001- £100,000 In the band £100,001- £110.000 Key management personnel The charity considers ils key management personnel to be the directors and the Strategic Leadership Team {SLTI. The SLT consists of the Chief Executive Officer, the Head of Finance, the Business Development Director, the Head of Adoption, the Head of HR and the Head of Marketing and Fund- raising. The total employment benefits, including employer pension and national insurance contributions, were £506,60912021.. £552,991). 12. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefils12021- £NILI. During the year ended 31 March 2022, no Trustee expenses have been incurred12021- £NIL). Page 31 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."15 GKIT IUTC *OI D Z12 P 24147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Tangibl8 fixed assets Office equipmenv IT furniture & equlpment fixtures Freehold property Webslte Total Cost or valuation Al 1 April 2021 Additions 1,825.000 236,084 17,653 {85,0681 12,778 78.174 35.987 2,152.036 53.640 185,0681 Disposals At 31 March 2022 1,825.000 168,669 12,778 114.161 2,120.608 Depreciation At 1 April 2021 Charge for the year On disposals 176,775 34,459 {85,0681 12,723 55 43.626 14.069 233.124 72.308 185,0681 23.725 At 31 March 2022 23.725 126,166 12,778 57,695 220.364 Net book value At 31 March 2022 1,801.275 42,503 56,466 1,900,244 At 31 March 2021 1,825,000 59,309 55 34,548 1,918,912 The original cost of the freehold properties was £777,000. The properties were valued as at 31 March 2021 by Haslams Surveyors LLP al £1,825,000. The Company has adopted 8 policy of revaluation for tangible fixed assets. Had these assets been measured at historic cost. the carrying values would have been as follows.. 2022 2021 Freehold property 576,909 588,205 Page 32 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."15 GKIT IUTC *OI D Z12 P 35147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Fixed assat investments Unlisted Investments Cost or valuation At 1 April 2021 Revaluations 49.889 4.338 At 31 March 2022 54.227 Net book valuo At 31 March 2022 54,227 At 31 March 2021 49,889 15. Stocks 2022 2021 Work in progress 699,604 580,245 16. Debtors 2022 2021 Trade debtors Other debtors Prepayments and accrued income 980,016 7,952 86,250 304,699 9,473 78,747 1.074,218 392,919 Page 33 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."16 GKIT IUTC *OI D Z12 P 26147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. Creditors.. Amounts falling duo within ona year 2022 2021 Trade creditors Other taxation and social security other creditors 242,749 63,200 152,027 252,038 189,994 62,456 135,983 375,698 Accruals and deferred income 710,014 764,131 2022 2021 Deferred income at 1 April 2021 Resources deferred during the year Amounts released from previous periods 329,013 281,991 212,884 2,294,131 1329,0131 12,247,109) 212,884 329,013 Page 34 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."17 GKIT IUTC *OI D Z12 P 27147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statgmgnt offunds Statgmgnt offunds- current year Balance at 31 March 2022 Balanc8 at 1 April 2021 Transfgrs inlout Gainsl ILoss8s} Income Expanditure Unrestrlcted funds Designated funds Fixed assets 266.822 13.654) 263.168 General funds General funds Revaluation reserve 1.835,385 3,363.958 12.816,7221 {260.476) 2,122.145 888.318 13.628,0001 888.318 744,000 13,025.000) Pension reserve 1141,0001 1904,2971 3,363.958 12.957,7221 {260.476) 744,000 114.537) Total Unrestrlcted funds 1637,4751 3,363.958 12.957,7221 {264.130) 744,000 248.631 Endowment funds Wellesley Home Trust Property Fund Original gift Unapplied lolal return St. Mary's Home Fund Original gift Unapplied lolal return 9,083 9,083 586 586 28,247 28.247 778,812 120.071) 4,338 763.079 816,728 120.071) 4,338 800.995 Page 35 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."17 GKIT IUTC *OI D Z12 P 28147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statgmgnt of funds Icontinuedl Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Gainsl (Losses} Income Expanditure Restricted funds Alana House Reading strengthening Families 395,771 1419,0801 23,309 134.752 1352,2681 217.516 Bounce Back for Kids DfE Covid-19 grant 104.939 1148,3151 43.376 333.333 1333,3331 968.795 11.252,9961 284.201 Total of funds 179.253 4,332.753 14.210,7181 748,338 1,049.626 Page 36 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."17 GKIT IUTC *OI D Z12 P 29147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statgmgnt of funds Icontinuedl Statgmgnt offunds- prioryoar Ealance at 31 March 2021 Balance al 1 April 2020 Transfers inlout Gainsl (Losses) Income Expenditure Unrestrlcted funds Designated funds Fixed assets 235,605 31,217 266,822 General funds General funds Revaluation reserve 1,294,593 3,455,564 12,671,165) 1243,6071 1,835,385 496,743 12,223,000> 391,575 888,318 11,322,000) 13,628,000) Pension reserve 183,0001 1431,664} 3,455,564 12,754,165) 1243,6071 1930,425} 1904,2971 Total Unrestrlcted funds 1196,059} 3,455,564 12,754,165) 1212,3901 1930,425} 1637,4751 Endowment funds Wellesley Home Trust Property Fund Original gift Unapplied lolal return St. Mary's Home Fund Original gift Unapplied lolal return 9,083 9,083 586 586 28,247 28,247 494,543 16,5991 290,868 778,812 532,459 16,5991 290,868 816,728 Page 37 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."18 GKIT IUTC *OI D Z12 P 40147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statgmgnt of funds Icontinuedl Ealance at 31 March 2021 Balance al 1 April 2020 Transfers inlout Gainsl (Losses) Income Expenditure Restricted funds Alana House Reading strengthening Families 282.745 1298,826} 16,081 145,812 1322,795} 176,983 Bounce Back for Kids Alana BFB 102,489 23,544 1112,845) 139,113) 10,356 15,569 DfE Covid-19 grant 250,000 1250,000} 804,590 11,023,579) 218,989 Total of funds 336,400 4,260,154 13,777,744) 1639,557} 179,253 Page 38 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."18 GKIT IUTC *OI D Z12 P 41147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statgmgnt of funds Icontinuedl Unrastrictgd funds - dosignatgd These are unrestricted funds which the trustees have decided should be used for particular purposes.. The trLJStees agreed that the net value of unreslricled fixed assets held in the general fLJnd should be transferred to a designated fixed assets fund, lo provide a better understanding of the charitls unrestricted reserves. This exclLJdes any assets held by restricted funds bul includes assets financed by long term loans. Unrestricted funds - general Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. The general fund represents the nel free assets of the company. Endowment funds A permanent endowment is a capital fund where there is no power to convert the capital into income, i.e. the capital must be held indefinitely. An order was granted by the Charity Commission in 2002 permitting the Iruslees lo adopt a total return approach to the investment of the above two endowment funds. This order permits the application of the unapplied total return to the charitable purposes of the charity- Wellesley Home Trust Property Fund is a permanent trust sel up under a Charity Commission scheme in 1978 from the general assets of the Wellesley Home following closure. The fund's assets are shares in a J.P.Morgan Unil Trust. The capital in the St Mary's Home fund may be applied in or towards the provision of land and buildings for the support of women and girls al risk. Restricted funds Restricted funds are funds which may only be used in ways that are restricted by the terms under which they were received.. Alana House is a project which supports women who have been, or who at risk of being, involved with the Criminal Justice System.11 has activities based in Reading and Newbury., strengthening Families relates lo support work carried out by PACT over and above the requirements of Inter Agency Fee, and includes support and assistance given lo families and children via the dedicated Strengthening Families Team. PACT is in receipt of a grant from Children In Need to help support the funding of the team in this area., Bounce Back for Kids is a fund created to support our work with children affected by domestic violence. Page 39 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."19 GKIT IUTC *OI D Z12 P 42147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. Summary of funds Summary of funds- currant year Balance at 31 March 2022 Balanc8 at 1 April 2021 Transfgrs inlout Gainsl ILoss8s} Income Expanditure Designated funds General funds Endowment funds 266.822 1904,2971 13.654) 12.957,7221 {260.476) 263.168 114.537) 3,363.958 744,000 816,728 120,0711 284.201 4,338 800,995 Reslricled funds 968.795 11.252,9961 179,253 4,332.753 14.210,7181 748,338 1,049.626 Summary of funds- prior year Balance at 31 March 2021 Balance al 1 April 2020 Transfers inlout Gainsl (Losses) Income Expenditure Designated funds General funds 235,605 1431,664} 3,455,564 31,217 266,822 12,754,165) 1243,6071 1930,425} (904,2971 Endowment funds Reslricled funds 532,459 16,5991 218,989 290,868 816,728 804,590 11,023,579) 336,400 4,260,154 13,777,744) 1639,557) 179,253 20. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Endowment funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Provisions for liabilities and charges 1,163,145 737,099 54,227 9,669 1,900.244 54.227 2,830.169 {710.014) 13,025.000) 2,820,500 1710,0141 13,025,000) Total 248,631 800,995 1,049.626 Page 40 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.45."19 GKIT IUTC *OI D Z12 P 43147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 20. Analysis of net assgts botwo8n funds {continugdl Analysis of net assets between funds - prior year Unrestricted Endowment funds funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Provisions for liabilities and charges 1,140,100 21,642 2,592,914 1764,1311 13,628,000) 778,812 28,247 9,669 1,918,912 49,889 2,602,583 1764,1311 13,628,000) Total 1637,4751 816,728 179,253 21. Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Nel income for the year las per Statement of Financial Acliviliesl 126,373 490,966 Adjustments for- Depreciation charges Losses on investments 72,308 14,5531 (2,0891 1119,3591 1681,2991 {53,9021 69,000 72,000 50,900 18,5561 13,0591 9,127 230,999 197,799 32,000 51,000 Interest received {Increaselldecrease in work in progress Decreasellincreasel in debtors Increaselldecreasel in creditors Defined benefit pension scheme cost less contributions payable Defined benefit pension scheme finance cost Net cash provided byllused inl operating activities 1521,5211 1,051,176 Page 41 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4520 GKIT IUTC *OI D Z12 P 44147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 22. Analysis of cash and cash equivalents 2022 2021 Cash in hand 1.056,347 1,629,419 Total cash and cash equivalents 1.056,347 1,629,419 23. Analysis of chang9$ in ngt debt Changes in market value and exchange At 1 April rate At 31 March 2021 Cash flows movements 2022 Cash at bank and in hand 1,629,419 {577.510) 4,438 1,056.347 1.629,419 {577.510) 4,438 1,056.347 24. Capital commitments At the year end, the charity had £Nil12021.. £15.0001 in capital commitments relating to the Adopter Hub website, and £nil12021.. £20,820) in capitsl commitments relating to the PACT website. Page 42 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4520 GKIT IUTC *OI D Z12 P 45147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 25. Pension commitments The Company operates a defined benefit pension scheme. Royal County of Berf(shire Pension Fund PACT is an admilled body of the Local Government Pension Scheme ILGPSI as part of the Royal County of Berkshire Pension Fund I'the FLJnd"l. Since 31 March 2013 the Fund only remains open lo new PACT members of staff for a small number of senior posts. During the year the active PACT members of the Fund remained at 6 members. The LGPS scheme is a fLJnded, defined benefit scheme and contributions are set every 3 years as a result of the actuarial valuation of the Fund which eslimales the asset and liability allocation for PACT. PACT'S share of the assets of the Fund is less than 1 /0. The last valuation was al 31 March 2019 and the pension expense calculations as al 31 March 2022 have been provided by Barnett Waddingham, consulting actuaries lo the Fund. The next review, which is due as at 31 March 2022. has been carried out but not yet completed. PACT also contributes to a defined benefit group personal pension scheme on behalf of those employees who are not members ofthe LGPS. The Charities SORP IFRS 1021 disclosures for the Fund at 31 March 2022 shows a deficit of £3.025k 12021.. £3,628kl. Employer contributions to this Fund tolalled £94k12021.. £95k}, al a contribution rale of 22.200/y 12021= 22.200/vl. This cost is included in direct charitable expenditure in the SOFA. The deficit at the beginning of the year was £3,628k12021.. £2,223kl. The actuarial gain during the year was £774k 12021.. loss of £1,322kl. This is shown in the SOFA as 'actuarial gains I Ilossesl on defined benefit pension schemes,. Other movements in the reconciliation to the closing balance totalled £141 k 12021.. £83kl. This cost is included in direct charitable expenditure in the SOFA. Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages).. At 31 March At 31 March 2022 2021 RPI increases 2.60 3.20 CPI increases Future salary in¢reases Future pension increases Proportion of employees opting for early retirement 2.60 4.90 3.20 2.80 4.50 2.80 2.60 2.00 At 31 March At 31 March 2022 2021 Years Years Mortality rates lin years) - for a male aged 65 now al 65 for a male aged 45 now - for a female aged 65 now al 65 for a female aged 45 now 21.3 21.2 22.6 22.5 24.0 25.4 23.9 25.4 Page 43 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4521 GKIT IUTC *OI D Z12 P 46147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 25. Pension commitments (continued) The Company's share of the assets in the scheme was.. At 31 March At 31 March 2022 2021 Equities Corporate bonds Propety Cash and other liquid assets Other 2.597,000 676,000 500,000 87,000 323,000 2,251,000 613,000 465,000 171,000 256,000 Total fair value of assets 4.183,000 3,756,000 The actual return on scheme assets was £427,00012021 £423,000). The amounts recognised in the Statement of Financial Activities are as follows.. 2022 2021 Current service cost Nel interest on the defined liability Administrative expenses 159,000 72,000 4,000 125,000 51,000 2,000 Total amount recognised in the Statement of Financial Activities 235,000 178,000 Movements in the present value of the defined benefit obligation were as follows.. 2022 2021 Opening defined benefit obligation Current service cost 7.384,000 159,000 146,000 26,000 1305,0001 1202,0001 5,593,000 125,000 130,000 28,000 1,666,000 1158,0001 Interest cost Contributions by scheme participants Actuarial Igainslllosses Benefits paid Closing defined benefit obligation 7.208,000 7,384,000 Page 44 Virtualsigrhalure Transaction Rel. KNK5-R36Y.MH9M 11 Nov 2022 12.4522 GKIT IUTC *OI D Z12 P 47147 OXFORD DIOCESAN COUNCIL FOR SOCIAL WORK INCORPORATED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 25. Pension commitments (continued) Movements in the fair valLJe of the CoMpan￿S share of scheme assets were as follows.. 2022 2021 Opening fair value of scheme assets Expected return on assets Actuarial gains Contributions by employer Contributions by scheme participants Benefits paid Adminslralion expenses 3.756,000 3,370,000 74,000 79,000 439,000 344,000 94,000 95,000 26,000 28,000 1202,0001 1158,0001 14,0001 12,0001 Closing fair value of scheme assets 4.183,000 3,756,000 26. Transactions with Connected charities The Oxford Diocesan Board of Finance IODBFI is a connected charity. During the year the charity received grant income of £65,20012021= £65,200) from ODBF. 27. Operating lease commitments At 31 March 2022 the Company had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years 13,929 12,536 13,929 25,246 26,465 39,175 28. Related party transactions There were no transactions with related parties during the year. Page 45