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2020-09-30-accounts

Charity Registration No. 287479

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

TRUSTEES' REPORT AND ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP CONTENTS

CONTENTS CONTENTS
______________
Page
Legal and administrative information
 1
Report of the trustees 2-4
Report of the auditors 5-7
Consolidated Statement of financial activities 8
Charity Statement of financial activities 9
Balance sheet 10
Consolidated Cashflow statement 11
Notes forming part of the financial statements 12-20

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

LEGAL AND ADMINISTRATIVE INFORMATION

LEGAL AND ADMINISTRATIVE INFORMATION LEGAL AND ADMINISTRATIVE INFORMATION LEGAL AND ADMINISTRATIVE INFORMATION
______________
Trustees G Ford
N Parry
A White
R Marlow (Resigned 18 December 2020)
D Wood
C P Fisher
Lady de Clifford (Resigned 18 December 2020)
Principal Address Horsfall House
Windmill Road
Minchinhampton
Gloucestershire
GL6 9EY
Auditors Azets Audit Services
5 Pullman Court
Great Western Road
Gloucester
Gloucestershire
GL1 3ND
Bankers Lloyds Bank Plc
12 Rowcroft
Stroud
Gloucestershire
GL5 3BD

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1

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

The trustees present their report and financial statements for the year ended 30 September 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the charity.

Method of appointment or election of trustees

The trustees comprise ex-officio, elected and co-opted individuals. The ex-officio trustees comprise the Chairman, Vice Chairman and Treasurer of the charity, each of whom is appointed at the trustees meeting following each annual general meeting of the charity and is subject to annual reappointment. Elected trustees are elected at an annual general meeting; one third of the elected trustees are required to retire by rotation each year and (if they wish to do so) offer themselves for re-election. Co-opted trustees are coopted as such by a majority of the trustees, and are subject to annual reappointment by the trustees. The names of those who were charity trustees during the year are disclosed on page 1.

Structure, governance and management

The charity named “The Minchinhampton Centre for the Elderly” (Charity number 287479) was established in 1982 as an unincorporated association. Its principal office is disclosed on page 1.

The trustees are the members of the Supervisory Board who control the Charity. They meet on a regular basis, approximately twice a year and at such other times as they think fit.

Decisions taken at meetings are by simple majority of votes cast by those attending, with the Chairman having the casting vote.

The trustees are responsible for providing training, where this is necessary, to new trustees so that they are properly equipped to fulfil their duties.

Risk review

The trustees have reviewed the major risks to which the charity is exposed and policies have been designed to mitigate those risks. The external risks to funding are reduced by the diversification of the charity’s funding sources. Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects. The trustees consider that by aiming to ensure a consistently high level of professionalism from a well trained staff reduces the risk of failure in the standard of care delivered. All procedures are periodically checked to ensure that they continue to meet the needs of the charity.

The Trustees continue the policy of preserving the capital value in its investments but note that these investments may fall or rise in value dependent on market conditions at the time of valuation’

Going concern

The trustees have reviewed the reserves of the Charity and have given full consideration to the ongoing financial impact of the Covid 19 Coronavirus. We continue to operate normally in all areas except the Dr Booth Day Centre which will reopen as soon as possible. We took a cautious step in not introducing new residents through the period that testing for the virus was unavailable. Demand for the services that Horsfall House provides is undiminished and now that we can undertake tests on new residents, allied to strict risk assessments, they are now being accepted into the Home.

The trustees consider that this combined with the high level of retained reserves represented in cash and investments the Charities have sufficient funds to maintain its working capital and accordingly it is appropriate to prepare the financial statements on a going concern basis

Objectives

The trustees have given careful consideration to the charity commission’s general guidance on public benefit. The charity’s principal object, in accordance with its constitution, continues to be the relief of the aged and disabled who are resident in and around Minchinhampton by the provision of facilities for rehabilitation, recreation and leisure time occupation.

Activities

The trustees have overseen various fundraising activities on behalf of the charity.

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2

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

These activities are of a continuing nature and contribute towards maintaining the charity on a sound financial footing. Significant activities pursued on behalf of the charity via its wholly owned subsidiary, Minchinhampton Centre for the Elderly Limited, include the provision of residential, domiciliary and day care to the elderly in the local community.

The Charity continued to support care in the community specifically through providing Home Care, a Day Centre which has been renamed after the Charity Founder Dr Chris Booth, and through residential care within the Nursing Care Home we operate. This latter activity is the principal activity of the charity ensuring support to those who cannot afford the full cost of residential nursing care. Specialist dementia care is a feature of our activities with dedicated and expert staff on duty twenty four hours a day. The Charity offers free respite through the provision of two dedicated beds which were occupied to the benefit of the local community throughout the year.

The Charity's fundraising team provide support for all we do through various significant activities including our annual charity walk in May, our biannual garden fete, bridge evenings, and annual Shakespeare play in our recently enlarged and planted gardens.

Financial review

The Charity Group made a deficit of £168,338 during the year. This is made up of a surplus in the parent charity of £57,001 and a deficit of £225,339 in the subsidiary company, Minchinhampton Centre for the Elderly Limited. The parent charity surplus largely arose because of the dedicated successful work of the large number of people involved in fundraising activities. Horsfall House was able to maintain a bed occupancy level of over 93%.

Reserves policy

The trustees current policy is that unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) should be between 3 and 6 months of the resources expended by the Group as a whole, which equates to between £750,000 and £1,501,000. At this level, the trustees feel that they would be able to continue the current activities of the Charity in the event of a significant drop in funding. It would obviously be necessary to consider how funding would be replaced or activities changed. At 30 September 2020 the free reserves amounted to £933,975

Funds

Unrestricted funds are used to pursue the day to day aims of the charity. Endowment funds comprise legacy income received which is then held and used to fund major capital expenditure. All available endowment funds were used during the year to fund the programme of building works carried out during that period. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment policy

The Trustee Act 2000 contains statutory powers enabling the trustees to delegate the investment management of the charity’s assets to an appropriately qualified investment advisor with discretionary management powers subject to a general policy prescribed by the trustees. The trustees’ present policy is that the charity’s funds should be invested in deposit accounts or such other financial instruments as preserve their capital value while earning such interest as is commensurate with the associated, minimal risk.

Future strategy

The trustees intend to continue to improve the facilities within Horsfall House. The trustees will continue to place high importance on staff training and believe that, due to the training that has been carried out in recent years, the staff at Horsfall House offer a much higher level of expertise than is generally available in other care homes.

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3

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Trustees’ responsibilities

The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year. .In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditors

So far as the trustees are aware, there is no relevant audit information of which the charity’s auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the charity’s auditors are aware of that information.

On behalf of the trustees

Mr N Parry

Chairman

Date:

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4

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

INDEPENDENT AUDITORS' REPORT

TO THE TRUSTEES OF THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

Opinion

We have audited the accounts of The Minchinhampton Centre for the Elderly Charity Group (the ‘charity’) for the year ended 30 September 2020 which comprise the Statement of Financial Activities, the Balance Sheet, and the notes to the accounts, 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 Practice).

In our opinion, the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Other information

The other information comprises the information included in the annual report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

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5

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

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

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditors 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 accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

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

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6

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

.

Use of our report

This report is made solely to the charity’s 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 state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Handscombe (Senior Statutory Auditor) for and on behalf of Azets Audit Services

Statutory Auditor

5 Pullman Court Great Western Road Gloucester Gloucestershire GL1 3ND

Date

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7

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
Donations, trusts and legacies
107,795
-
Investment income
3
32,959
-
140,754 -
Incoming resources from charitable activities
4
3,399,650
-
Free respite funding(691)-
Total incoming resources 2
3,539,713 -
Resources expended
Charitable activities
Direct charitable expenditure5
3,571,159
-
Governance costs6
92,705
-
Total resources expended
3,663,864 -
Net (outgoing)/incoming resources
(124,151) -
Net gains/ (losses) on investments9
(44,187) -

Net (outgoing)/incoming resources for the year
(168,338)
-
Fund balances at 1 October 2019
5,111,948
-
Fund balances at 30 September 2020
4,943,610
-


Total
2020
£
107,795
32,959
140,754
3,399,650
(691)
3,539,713
3,571,159
92,705
3,663,864
(124,151)
(44,187)		 Total
2019
As restated
£
84,808
39,508
124,316
3,226,278
(29,909)
3,320,685
3,308,959
93,962
3,402,921
(82,236)

44,458
(37,778)
5,149,726
5,111,948
(168,338)
5,111,948
4,943,610

A detailed analysis of the charitable trading activities is shown in note 2.

The statement of financial activities has been prepared on the basis that all operations are continuing operations.

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8

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

CHARITY STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Unrestricted
funds
Notes
£
Incoming resources from generated funds
Donations, trusts and legacies
2
107,795
Investment income
3
32,959
140,754
Rent receivable
140,238
Total incoming resources 2
280,992
Resources expended
Charitable activities
Direct charitable expenditure5
141,072
Governance costs6
38,732
Total resources expended
179,804
Net incoming resources before transfers
101,188
Net gains/ (losses) on investments
9 9
(44,187)
Net incoming resources for the year
57,001
Fund balances at 1 October 2019
4,819,983
Fund balances at 30 September 2020
4,876,984		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2020
£
107,795
32,959
140,754
140,238
280,992
141,072
38,732
179,804
101,188
(44,187)
57,001
4,819,983		 Total
2019
As restated
£
84,808
39,508
124,316
141,282
265,598
174,015
38,438
212,453
53,145
44,458
97,603
4,722,380
4,819,983
4,876,984

A detailed analysis of the charitable trading activities is shown in note 2.

The statement of financial activities has been prepared on the basis that all operations are continuing operations.

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9

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

BALANCE SHEET

AS AT 30 SEPTEMBER 2020

Notes
Fixed assets
Land and buildings
8
Motor vehicles
8
Furniture and equipment
Quoted Investments
8
9


Current assets
Stock
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets / (liabilities)
Total assets less current liabilities
Reserves:
Endowment funds
Unrestricted funds
Other charitable
Designated funds:
Charitable trading funds
Total reserves		 Group
2020
£
2,437,128
-
321,258
1,251,249


___
4,009,635
10,019

261,498
1,027,069
___
1,298,586
(364,611)
___
933,975
___
4,943,610
____
-
4,867,179
76,431
___
4,943,610
 Charity
2020
£
Group
2019
As restated
£
Charity
2019
As restated
£
2,437,128
2,518,043
2,518,043
-
-
-
321,258
1,251,249
325,425
1,279,374
325,425
1,279,374
___
_
_
4,009,635
4,122,842
4,122,842
-
7,953
-
101,263
255,238
975
768,775
1,043,843
842,796
___
_
_
870,038
1,307,034
843,771
(2,689)
(317,928)
(146,630)
___
_
_
867,349
989,106
697,141
___
_
_
4,876,984
5,111,948
4,819,983
____
_
_
-
-
-
4,876,984
4,819,983
4,819,983
-
291,965
-
___
_
_
4,876,984
5,111,948
4,819,983

The accounts were approved by the Trustees on …………….and signed on their behalf by:

N Parry Chairman

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10

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

CONSOLIDATED CASHFLOW STATEMENT

AS AT 30 SEPTEMBER 2020

___________
Notes


Net cash inflow/(outflow) from operating
activities
13 (a)
Purchase of fixed assets
Cash inflow/(outflow) before financing
Inflow/(outflow) from investments
Net movement in cash resources in the year
13 (c)		 _______
2020
£
2019
As restated
£
53,060
122,927
(55,156)
(103,767)
___
_
(2,096)
19,160
(14,678)
(46,668)
___
_
(16,774)
(27,508)
____

______________

11

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

1 Accounting policies

1.1 Basis of preparation

The accounts have been prepared under the historical cost convention other than where additional disclosure is required to show a true and fair view.

The financial statements of the Charity are prepared in accordance with The Charities (Accounts and Reports) Regulations 2005 and the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRS102) and with applicable accounting standards.

The trustees consider given the high level of retained reserves represented in cash and investments held by the charity that there are sufficient funds to maintain working capital and accordingly it is appropriate to prepare the financial statements on a going concern basis.

1.2 Incoming resources

The nursing home income represents amounts receivable from residential, day centre and domiciliary care activities.

Local community and charitable trust income represent actual receipts, together with any tax refunds received during the year. Legacies are actual receipts.

Gifts in kind for use by the charity are recognised as incoming resources when received at a reasonable estimate of their value. However, in the case of second hand goods donated for resale in the Charity’s shop, the estimation of such a value is not practicable. Therefore, the income derived from the sale of such goods is included in the accounting period in which the gift is sold.

1.3 Resources expended

All expenditure is included in the financial statements as soon as it is incurred.

Costs are allocated between charitable costs, fund raising and administration. The irrecoverable element of Value Added Tax is included within the item of expense to which is relates. Depreciation is allocated to expenditure headings on the basis of the use of the assets concerned.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:

Freehold land is not depreciated Freehold buildings 2% on cost Plant and machinery 25% on cost Fixtures, fittings & equipment 10 / 25% on cost Motor vehicles 25% on cost

1.5 Fixed Asset Investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.6 Leasing and hire purchase commitments

Rentals payable under operating leases are charges against income on a straight line basis over the lease term.

1.7 Stock

Stock of food and cleaning materials is valued at the lower of cost and net realisable value

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12

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

1.8 Charitable funds

The charity holds unrestricted and restricted funds as shown on page 8 of the accounts

1.9 Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10 Pension costs

The charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the statement of financial activities in the year they are payable.

1.11 Consolidation of the group

These financial statements consolidate the results of the charity and its subsidiary, Minchinhampton Centre for The Elderly Limited, on a line by line basis.

13

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

2 Total incoming resources from charitable activities

Group
Nursing home fees
Day
centre
&
non-
residential services
Homecare income
Covid relief receipts
Miscellaneous income
Donations and gifts
Trusts
Legacies
Dividends and interest
receivable
Charity
Donations and gifts
Trusts
Legacies
Dividends and interest
receivable
Rent receivable
3
Investment income
Bank interest receivable
Income from investment		 Unrestricted
Funds
£
2,322,791
107,825
847,561
118,766
2,016
75,295
12,500
20,000
32,959
3,539,713
Unrestricted
Funds
£
75,295
12,500
20,000
32,959
140,238
280,992		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-
-		 Total
2020
£
2,322,791
107,825
847,561
118,766
2,016
75,295
12,500
20,000
32,959
3,539,713
Total
2020
£
75,295
12,500
20,000
32,959
140,238
280,992
2020

£

1,991
30,968

32,959		 Total
2019
£
2,273,978
186,730
732,633
-
3,028
72,293
12,500
15
39,508
3,320,685
Total
2019
£
72,293
12,500
500
39,508
141,282
265,598


2019
£
3,756
35,752
39,508

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14

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

4 Trading activities of subsidiary

The charity has a wholly owned trading subsidiary, Minchinhampton Centre For The Elderly Limited, which is incorporated in the UK. The main activities of Minchinhampton Centre For The Elderly Limited are the provision of residential, domiciliary and day care to the elderly in the local community. A summary of the trading results of the company is shown below. Audited accounts have been filed with the Registrar of Companies.

Turnover

Operating charges and net interest (see below)
(Loss)/Profit for the year
Total Resources expended (see page 8)
Less: Borne by the charity
Add: Rent charged to the company by the charity
Asset usage charged to the company by the
charity
Operating charges and net interest of subsidiary
company
5
Analysis of direct charitable
expenditure
Group
2020
£
Wages, salaries and national insurance
2,603,778
Agency fees
204,436
Recruitment fees
4,476
Training costs
14,997
Food, catering and kitchen
123,558
Rent and rates
12,421
Heat, light and power
47,873
Repairs and maintenance
104,219
Housekeeping, cleaning and uniforms
67,368
Insurance
15,224
Motor and travel
82,468
Telephone and postage
22,544
Printing and stationery
13,000
Bank charges
2,830
Sundry expenses
64,399
Physiotherapy and medical supplies
47,730

Depreciation
Free respite funding
140,238
-
Profit on sale of fixed asset
(400)
____
__
3,571,159
 2020
£
3,399,650
(3,624,989)
____
(225,339)
____
3,663,864
(179,113)
____
3,484,751
105,000
35,238
____
3,624,989
____
Charity
2020
£
Group
2019
£
-
2,300,573
-
232,974
-
3,182
-
14,728
-
128,014
-
12,713
-
47,935

-
116,411
-
66,317
-
15,031
-
79,166
-
22,257
-
12,209
543
2,902
-
87,498
-
25,767
140,238
691
141,282
-
(400)
__
-
____
141,072
3,308,959

 2019
£
3,226,278
(3,361,659)
_
(135,381)
_
3,402,921
(182,544)
_
3,220,377
105,000
36,282
_
3,361,659
_
Charity
2019
£
-
-
-
-
-
1,796
208
-
-
309
-
-
-
511
-
-
141,282
29,909
-
_
174,015

_____________

15

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

Group
6
Governance costs
2020
£
Staff costs
46,706
Fundraising and publicity costs
3,772
Legal and professional fees
26,571
Audit and accounting fees - audit
10,216
- non-audit services
-
Financial consultancy
5,440
__
92,705
__
Group
7
Staff costs
2020
£
Wages and salaries
2,405,354
Social security costs
157,612
Agency staff
Pension costs
204,436
40,812
__
2,808,214
 Charity
2020
£
18,682
1,585
14,905
2,200
-
1,360
__
38,732
__
Charity
2020
£
17,001
1,358
-
323
__
18,682
 Group
2019
£
44,352
6,800
25,784
9,044
-
7,982
_
93,962
_
Group
2019
£
2,137,543
134,037
232,974
28,993
__
2,533,547
 Charity
2019
£
17,741
2,746
14,085
1,906
-
1,960
_
38,438
_
Charity
2019
£
16,215
1,273
-
-
______
17,741

The average monthly number of employees during the year was:

Directors of subsidiary company
Care, domestic and administration staff		 Group
2020
6
146
__
152
 Charity
2020
-
-
__
-
 Group
2019
6
150
__
156
 Charity
2019
-
-
__
-

The number of employees whose annual remuneration was £60,000 or more were:

In the band £60,001 to £70,000

2020 2019
1 1

None of the trustees (or any person connected with them) received any remuneration. (2019: None)

Expenses reimbursed to trustees for travelling undertaken on behalf of the charity during the year amounted to £nil (2019: £nil).

_____________

16

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

8 Fixed Assets - Group and Charity

Cost
At 1 October 2019
Additions
Disposals
At 30 September 2020
Depreciation
At 1 October 2019
On disposals
Charge for year
At 30 September 2020
Net book value
At 30 September 2020
At 30 September 2019
The net book value at 30 September
Direct charitable purposes
Other purposes
Management and administration		 Freehold
land &
buildings
£
Fixtures
& fittings
£
Motor
vehicles
£
Furniture
&
equipment
£
3,711,100
5,997
78,135
872,181
-
-
-
55,156
-
-
(29,555)
-
_
_
_
_
3,711,100
5,997
48,580
927,337
_
_
_
_
1,193,057
5,997
78,135
546,756
-
-
(29,555)
-
80,915
-
-
59,323
_
_
_
_
1,273,972
5,997
48,580
546,756
_
_
_
_
2,437,128
-
-
321,258
_
_
_
_
2,518,043
-
-
325,425
_
_
_
_
2020 represents fixed assets used for:
2,435,772
-
-
321,258
1,356
-
-
-
_
_
_
_
2,437,128
-
-
321,258



 Total
£
4,667,413
55,156
(29,555)
_
4,693,014
_
1,823,945
(29,555)
140,238
_
1,934,628
_
2,758,386
___
2,843,468
____
2,757,030
1,356
____
2,758,386

For administrative reasons the property comprising the land and buildings known as Horsfall House (together comprised in Land Registry Title Nos. GR132825, GR184300 and GR353447) was reregistered in the name of Minchinhampton Centre for the Elderly Limited (Charity No.1083810) and, pursuant to a Declaration of Trust dated 9th June 2011, is now held on trust for The Minchinhampton Centre for the Elderly absolutely. Accordingly, the property is included in the accounts of the Charity Group only.

_____________

17

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

_________________

9
Investments
Market value as at 1 October 2019
Investment income
Investment management costs
Net gain/ (loss) on investments
Market value at 30 September 2020		 £
Quoted
Investment
£
1,279,374
30,968
(14,905)
(44,187)
____
1,251,249

Charles Stanley & Co Limited manage the investment portfolio on behalf of the Trustees.

10
Debtors
Trade debtors
Prepayments and accrued income
Amounts owed by subsidiary undertaking

11
Creditors - Amounts falling due within one
year
Payments received in advance
Trade creditors
Social security and other taxes
Accruals and deferred income
Amounts owed to subsidiary undertaking		 Group
2020
£
174,070
87,428
-
____
261,498
____
2020
£
102,054

62,328
44,392
155,837
-
____
364,611
 Charity
2020
£
-
16,369
84,894
____
101,263
____
2020
£
-
-
-
2,689
-
____
2,689
 _
 Group
2019
£
137,090
118,148
_
255,238
_
2019
£
86,952
54,544
35,020
141,412
-
____
317,928
 Charity
2019
£
-
975
_
975
_
2019
£
-
-
-
2,503
144,127
____
146,630
_

_____________

18

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

12 Capital commitments

At 30[th] September 2020 the charity had capital commitments in respect of building works which were contracted for but not provided in the financial statements of £Nil (2019: £Nil).

13 Group cashflow information

13 Group cashflow information
2020 2019
As restated
£ £
(a) Net cash inflow/(outflow) from operating activities
Net incoming resources before transfers (168,338) (37,778)
Depreciation 140,238 141,282
Fair value gains and losses on investments
42,803		 (19,457)
(Increase)/decrease in stocks (2,066) (766)
(Increase)/decrease in debtors (6,260) (12,383)
Increase/(decrease) in creditors 46,683 52,029
__ __
Net cash inflow/(outflow) from operating activities 53,060 122,927
__ __
(b) Analysis of net cash/debt
 1 October Cashflow 30 September
2019 2020
£ £ £
Cash at bank and in hand 1,043,843 (16,774) 1,027,069
Bank overdraft - - -
__ __ __
Net cash/debt 1,043,843 (16,774) 1,027,069
__ __ __
(c) Reconciliation of net cash 2020 2019
£ £
Opening balance 1,043,843 1,071,351
Increase/(decrease) in the year (16,774) (27,508)
__ __
Closing balance 1,027,069 1,043,843
__ __

_____________

19

THE MINCHINHAMPTON CENTRE FOR THE ELDERLY CHARITY GROUP

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

______________

14 Prior period adjustment (Group)
Reconciliation of changes in funds 01 October 30 September
2018 2019
£ £
Unrealised gains (losses) on investment1 187,711 207,168
Funds as previously reported 4,962,015 4,904,780
__ __
Funds as adjusted 5,149,726 5,111,948
__ __
Reconciliation of changes in surplus/ deficit in the previous period
2019
£
Adjustments to prior year
Unrealised gains (losses) on investment 19,457
Deficit as previously stated (57,235)
__
Deficit as adjusted (37,778)
__
14 Prior period adjustment (Charity)
Reconciliation of changes in funds 01 October 30 September
2018 2019
£ £
Unrealised gains (losses) on investment1 187,711 207,168
Funds as previously reported 4,534,669 4,612,815
__ __
Funds as adjusted 4,722,380 4,819,983
__ __
Reconciliation of changes in surplus/ deficit in the previous period
2019
£
Adjustments to prior year
Unrealised gains (losses) on investment 19,457
Surplus as previously stated 78,146
__
Surplus as adjusted 97,603
__

Notes to reconciliation

1 In line with FRS102 SORP adjustment to report market value of investment rather than book value as previously stated.

_____________

20