Charfty Re918trntlon No. 291662 Company Reglstratlon No. 01897198 (England and Wal•g1 CANTERBURY OAST TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CANTERBURY OAST TRUST CONTENTS Paq• Tru8lee8' and strategic report IndeFendent auditoffs reF4Jrt 17-19 statement of ffinancial athvitie6 20 Balance sheet 21 statement of cash flow8 22 Nots$ to Ihtr fin8n¢ial 8tslemnts 23-40 CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS DURING THE YEARWERE: Trustees Russell Walters Trevor Pearce Jane Abbott Chris Showell Peter Pearson-wood Kenneth Heskelh Michaela Tweedley Ruairidh Roberts Karen Blackislon Sophy Hazevoet Chair Vice Chair Lead for Care Lead for Finan￿ and Human Res￿r¢8$ Lead for Rare Breeds Centre Company reglstsrod number 1897198 Char5ty reglstered number 291662 Reglsterod Offlce Highlands Fami, Woodthurch, Kent, TN26 3RJ Socretary Karen Blacki5ton Chlof Executlve Joanne Creighton (until 311031221 Bernie Mayall Ilnlgrim. until 121091221 Sarah Edwards (from 121091221 Sgnior Managers Fiona Dodge (until 051071221 Vicky Wardrope lfrom 161051221 Susan Langford-smilh lunthl 301041221 Dominic Evans (from 20104122) lan Bolingbroke Joanne Booth lunts"I W101221 Cl8ire Wye Ifr(xn 201091221 Tina Morris Head of C Acbng Head of Carè Financial Controller Interirn Head of Finance Head of Estates Head of Human Resources Intèrim Director of People & Culture Head of Visitor Engagement Auditor RSM UK Audit LLP, Portland, 25 High Strèet, Crthey, Wesl Sussex, RH10 1 BG 8anker8 Nab'onal W&stsninsler Bank plc, 20 High Street. Ashford, Kent, TN24 8SH CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 Letter from the Chair.. ilst subsequentto the financial year end. cleady, the CQC reportand an inadequate rating for our Supported Living Services was Il* mo81 important event in the last year and the most disappointing. As one who has a relative in the Trust and has been involved for nine years on the Board, il is really important lo me that we provide a good. bul preferably oulslanding service across all that we de. This is a salutary lesson that, in spite of best intentions and a g￿al deal of hard work by so many people. Il Is possible for things to go wrong. So much work has been put in by key staff sin￿ that rating and I must offer huge thanks to many, but particularly lo Vicky Wardrope who has stepped up to Achng Head of ca￿ and assumed new fesponsibilities with the guidance and direthon of Bemie Mayall. our interim CEO. There is much practical work underway, but progress has already been made in addressing the is$u8$ raised by KCC and CQC. We come back, however, lime and bme again, to one key issue and one of our key risks. the recruitment and retention of good staff. It remains a continuing difficulty. One area where we have had Suc￿$ is in recruiting our new Chief Executive. l am delighted that Sarah Edwards has agrged lo join us and pleased that al least some of those we support, staff and family members, were able lo meet her before we made a final deusion on her appoinlmenl. l am confident that she has the experience, energy and ideas to make a real difference and we all look forward to her lakiThJ the reins. th so much focus on our Supported Living Services, it is easy lo ft)rgel how Much has been achieved in other parts of the organisation A great deal of work has been done lo upgrade the quality and availability of our Life Skills programmes. whilst the Rare Breeds Centre has been going from strength lo strength. capilalising on the significant investments made to improve the facilities. Welcoming 117,000 visltors to the RBC in 2021, in spite of Covid-19, was a remarkable achievement. It is a cred(( lo RBC Management and provided a continuing showcase for those we support lo the wider worfd. Covid-19, of courge, continued to present huge challenges to the Trust. ￿lIst il is a tremendous success lo report that we managed to keep all ofthose we support safe, wlh no cases reported amongst them until after Christmas 2021, we musl recognise the effect il has had on so many people, including our staff and families. Being unable to see and support loved ones. seeing them unable to get out and about and tha understsndable concerns and fears over the virus itself. have left many of those we support with real concerns and in some casgs, medical issues, but staff conb'nue to be understanding and supportive. As I come to the end of my lime as Chair, I can assure you that Trustees and everyone Involved In COT is working as hard as they can to address the current 155ue$ within our Supported Living Services. It wll take little lim¢ as CQC have a rigorous process to go through. Bul we will demonslrale to them whatwe can achieve and how eommitted we are to doing so. We rèmain delemiined to being seen as a leading provider of care. CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 The Trustee5 (who are 8150 Directors of the company for the purwses of the Companies Act) submit their annual report and the audited financial statements of Canterbury Oasl Trust Ilhe Trust or'COT'I for the year ended 31 March 2022. The Trustees confirm that the annual report, which includes the strategic report and financial statement5 of the Trust, comply wth current slatulory requirements. the requirements of the Trusfs goveming documents and the Companies Act 20Qfj and Reporting by Charities.. Stslemenl of Recommended Practice applicable to harities preparing Ihwr accounts in accordancg with tho Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20191. 1. CONSTITUTION & OBJECTIVES The Trust is govemed by a Memorandum and Artlcles of Association and is a registered charty, number 291662. The charitable purpose of the Trust is to provide for the training, inslru¢b'on, employment, fijture liwng, occupation, accommodation, sustenance, maintenance and care of people a leaming disability, whether or not they have any other disability 2. ORGANISATIONAL STRUCTURE, COMMUNICATION AND DECISION MAKING Under the terms of the Artides of Assoaalion, the Trust is managed by a Board of up to 81even Trustees and maximum ofthree co-opted persons. Each Trustee may $eNe a maximum of th￿e lemis of three years. The Trustees who served during the year are listed on Page 1. In the event of the chanty being wound up, the liability in respect of the guarantee is limited lo £1 per voting member of the Trust. 2.1 Governance The Board mel 5 times in the financial year and also held a strategy away-day meeting in October 2021, with Ihe Senior Management Team to discuss and review the charity's strategic direction Throughout the year, i$sues We￿ diseussed in more detsil at the following Committees.. Finance (including wmmercial activitie5}- rnel S Iirnes during the year", Care- mel 4 limes during the year., Human Resources- mel 4 times dunng the year. The Board has eleeled Lead Trustees for Finance, Ca￿, Human Resources and the Rare Breeds Cenlre. The Lead Trustees for Finance. Care and Human Resources are also Chairs of the relevant Committees. 2.2 Trustee Electlon, Inductlon & Tralnlng Trustees are elected or re-elected, as appropriate, by the voles of Full Members at the AGM. Induction for Trustees is arranged and c¢>ordinaled on an indiviLYual basis. In principle, new trustees spend time with the Chair of Trustees, the Chief Executive and key members of the seniDr management team. They also visit the Trust's seNices lo meet those we supwrt and stsff, bul these visits have been significantly limited over the last year due lo Covid-19 ￿strIctl0n5. Time was spent in person where possible, bul online otherwise. The Board currenly has one TnJstee vacancy. There are existsng tru$lees coming to the end of their maximum nine-year terms and three up for re-elects'on in October 2022. CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 Trustee recruitment priorits'es focus on those wth local aulhorilylcare commissioning exper￿nCe or those currently active in 8dull social care at a senior level. The board is also looking 19 strengthen ils business and f1nance experience and seeking someone with the knowledge and experience to lake over the rol8 of Chair for the longer term. The charity considers the Board of Trustees and the Chief Executive as their key management personnel. Salary for the CEO 15 sel annualty by the Board of Trustees, taking into account individual perfomtsnce. proportionality with salariès across the organisatson. market data and the charity's ability lo pay. Senior 8tsff are includ*J in an organisalion-wide salary scale, which is reviewed annually by the HR Commitiee. with refe￿nce lo affordability, rgcruitmenl need5 and market forces. 2.3 Charlty Managem8nt The Trustees delegate responsibility for the Trnsl's daY-￿daY activits'os lo the CEO. The Senior Management team is comprised of.. The CEO Heaij of Care Financial Controller Head of Human Resources Head of Estsles Head of Visitor Engagement (who has responsibility for Marketing, PR and tho day-lo-day running of the Rare Breeds cent￿). Each operating area has a dedicated managementleam who have access lo supportfrom central HR, Finance, Payroll, Eslales and Marketing resources. This ensures that frontline learns are free lo concentrate ¢)n providing the best possible support lo our service users, families and visitors. COT remains a member of the Kent Integrated Care Alliance IKICA). The objectives of the KICA are lo fepresenl the interests of all service providers across the County on strategic regional and national bodies and associations. The Alliance also offers 8 programme gf development and improvemenl with services and benefits lo 115 membership that enable them to meet national slatLrtory and regulatory requirements, local and health authority conlraclual eompliance and to ensure best practice in the care and support they provide lo servlce users and their families. 2.4 Communication$ The Covit1-19 restrictions disrupted our nomal communications programme, bul as these restrictions have eased, we have started lo return to what we used to think of as a more norrnal operating environment. Getting back to more regular in-persgn contact is a priority, but we also recognise the need for electronic, secondary links for those who a￿ geographically more distant VNlth Sarah Edwards joining us In October we will be looking again at our c¢)mmunicalions slratfjgy and conlinue the sear¢h for new and better ways of engaging with everyone in ways that work best for them. CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 3. RISK P•lANAGEMENT The Trust maintains a detailed Risk Register, whlch lakes into account threats to the charity in relation lo.. 1. Finance 2. Asset Management.. 3. Safeguarding 4. Kno￿edge & Capacty 5. Inftxmalion & Data Management 6. Legal. Compliance & Governance 7. Customer Relats'ons. Culture & Ethos 8. Health & Safety 9. Pandemic Relevant aspects of the Risk Reglster 8re reviewed at the various Committee meetings with al least a ftjll annual review by the Boafd as a whole, with specrfics being reviewed as regulady a$ necassary as they are either identified or nse in assessed risk. The risk of an adverse CQC rating or Local AulhoTity assessment has ahKays been Identified in the register and became the highest priority once il had malerialized. The board response was immediate with regular meetings to assist senior management in the development of the actlon plan and lo provide the necessary financial resources 19 address key issues. The CQC report was the key existenb.al rfsk lo COT during the year. bul Ihe board has not lost sight of other strategic risks and continue to monitor and manage them as appropriate. Other principal risks Cur￿n11Y facing COT include:_ The Staffi'ng Landscape staffing rernains the major concem and number one risk factor for COT. The care sector as a whole 1$ seeing sevare shortages ofstaff. Low unemployment rates, the ￿dUCed flow ofoverseas workers and funding issues which make il difficult lo offer salaries much above the minimum wage. make il difficult lo altract new staff. 11 follows that COT Is not unusual in finding ￿¢rUitment drfficull. despite every effort to identify and attract new people via more usual recruitment routes. bul also recruilmenl consultancies. soc￿1 media initiatives and the use of agencies. We continue to offer stsff training although face-to-face programmes have been compromised duiing the pandemic. Our focus going forwards is to Continue with our leadership management programmes and, for our care staff, to consider PCAS (person centered active support) training. Local Authority Funding Adult social care funding has b8en under extreme pressu￿ for a number of years and continues lo be identified as the lop long-term pressLJre for Local Authorities. 11 is estimated that, nationwide, around 50% of local authority funding is allocated to adult social care. KCC has not changed the way it segs the $8¢lor as slated in their'markel Position Statement 2021-26" This slates Ihal there is an 'oversupply' of care homes in the county and there is a need lo redu￿ and control the supply of lower-level services and fill the gaps lin MO￿ complex Carel., To help manage demand and control their costs, KCC is increasingly looking to employ an 'assel-based commissioning, model lor adults with learning difficulties requiring social care funding. This approach encourages indepftndencg and reduces Ihg need for long-lerm support, hence ￿dUCIng the cost lo local authorities. CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 Care packages are built around individuals. using assets that alreaoy exist in the community. Whilst n¢1 a majority of those we support, KCC are our largest commissioner of seNices and others tend lo follow their model. It remains unclear exady what the impact of the new approach wll be on those already being supwrted by COT. BLJt the strategy of changing our emphasis from ￿sidential lo supported living care remains essential. to match the demands of local authonties, hence the need for us lo address the quality issues th81 have been identified as quickly as possible. We can assume, however, that downward pressure on contract rates will continue and residents'al car vacancies will becoffle harder to fill. The fuiure of group resid9nlial homes for any bul the most vulnerable adults with learning disabilities is u￿ertaIn. Organisations like COT wll be Increasingly required to minimise the funding gap for mild-to-moderate leaming disability care which can only be done either by redueing the opportunities we provide to individuals or finding alternative sources of funding. We have always focused on the latter and wll ￿ntinUe lo do so. That said. where appropriate and where financially viable opportunities present themselves, the Trust will continue lo invest in new developments that can support greater independence. Following the year end, we purchased two new prope￿eS in New Romney, away from the main road and nearer the centre of town behind Old School House. We ￿COgnize that many of the individuals in the care of Canterbury Oasl Trust will always need the support that a residential service provides. We knDW the true cost of providing a'brighler life, for those who rely on our support - and we Temain ¢ommrtied to finding the funding to ensure we can support thèm in the way they deserve. The Political Landsca Adults with learning disabilities are not currently a national politi'cal priority. Promised V￿lIe Papers and other govemment initsalives have not appeared This is not likely lo change in the near future and is something that COT has very limited abilty lo impact upon. The Tourism Sector Covid-19 hit the tourism industry and the R8C very hard. As Covid-19 re$triclion5 have eased and visitor nurnbers have started lo recover, it has been encouraging lo receive feedback from our visitors which emphasise how safe they felt on site, compared lo other IoLJriSt attractions. Overall visitor numbers in the last year recovered significantly to near our pre-pandemic levels We remain optimistic about the future. Rear Breads Centre IRBCI exists lo enhance ojr Life Skills experiences and lo generate additional funding to pay for them. We will continue lo Invest in and enhance our facilities and we have just ag￿ed new plans lo refurbish the restaurant. Technological Developments Two major improvements have been made. lo Eslales during the financial year and for Care, after. We have purchased a Care IT system called CAREis. which provides a structured framework for recording the care management of those we support. We have also introduced a new Estates packa9e which helps our Estates team develop and improve the way they manage our properties. We constantly monitor our IT system and environment and make systematic improvements. re￿gniSIng that it is furKlamenlal lo all we do. CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 Financlal Management Having taken the strategic decision to subsidise the continuing operating deficit in our core a￿0MMOda￿'on services. it is vital that the Trust has a robust and effective financial stral8gy lo ensure the charity's sustsinability into the longer temi. The folloMring priorities underpin our efforts to mitigate that risk.. the ongoing search for more efficient and cosl-effeclive ways ofworking, across all our actiV1ties and servi￿. the articulation of the strongest possible Case for fvndraising sUPPOrt,' improved financial contribution from the Rare Breeds Cenlre., arKI prudent and well-informed investment decisions. The eurrenl economic environment with general and energy inflation alongside the increasing minimum wage levels as well as the wider stsffing position, make this area inueasingly challenging. Compllance The work of COT is overseen by 14 different national regulators. In addition, we are required lo remain mplianl with increasingly challenging contracts for our care accommodation services and Life Skills programmes. There are also general expectations and largels from government regarding subjects such 8S energy usage reductions, water run-off and sewerage from Highlands Farrn. The board is presented with bi- annual reports from the Head of Estates on compliance across all aTeas of the built estate. The board also receives a summary of accident, incident and near-miss reports at every meeting. The inadequate CQC rab'ng was reported to the Charity Commission under their serious incident reporting protocol. Insurance remains a key issue for the Trust and we were pleased that after a fvll review of the Rare Breeds Centre by the insurers, we vwere able to agree a new 3 year contract for kgy insurances. Govemance The Ihree-year strategy developed by the l)Dard and senior staff for 2021-24, 'Brighter Lives for Go¢x1' is the comerslone to ensuring that the charity continues to be effective, accountable and sustainable. The board and staff have been working hard lo develc>p and implement an action plan lo address the CQC report,. this has been the key priority since the report was received. Additsonal board meetings have been held to monitor progress. provide support and resources as required to ensure that matters are addressed as quickly as possible. 4. PU8UC BENEFIT STATEMENT The Trustees confirm that they have complied with their duty in Section 4111 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on publie benefit. Dunng the year 2021122, the Trust provided quality care and train1r￿ 10 157 individuals with a leaming disability, enabling them lo lead brighter lives, develop their independence and new skills and to contribute as far as possible lo the wellbeing of the communities to which they belong. The Trust also seeks to break down the barriers pul in place by members of the general public, that are faced every day by adults with leaming disabilities The Reviewof Activities pages 9-13 outlines how Canterbury Oasl Trust delivered public Ixnefil for our seryice users acros$ all operating area$. S. FINANCIAL PERFORMANCE The results for the year are sel out in the Statement of Financial Activities, from page 20. CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 The Trust achieved an overall surplus of £317,550 in the financial year. This included the gain on investsnenls of £149.658 and donations and legarAes of £476,808. Wlhin this result. the operating deficit in residential care and supported living was £388,026. Net movement in fijnds during the year was £317.550 12021.. £1,257,538) of which £335,804 12021.. £1,278,189) was the movement on unrestricted funds. There were reserves of £9.857,77412021.. £9,540,224) which includes £4.2m12021.' £4.3ml represented by tangible fixed a8sels. REVIEW OF ACTIVITIES In the first yearof Ihe'Brighter Lives for Good, Strategy for Ihe period 2021-24, COT noted thefollowing aciions in pursuit of the 5 strategic goals Ihat shaped our work". GOAL 1.. To provide a safe, varled. responslve and financially sustsinable mlx of Ilvlng optlons for adults wlth learnlng dlsabllttles This aspect was overshadowed by the inadequate CQC rating in the supported liwng services. A full and detailed action plan was put in place to address the Issues identified ilsl all of the actions are important, the most fundamental relate lo getting the CARE1$ IT system in place, lo ensure that we have a better record of all the care plan activities togelherwilh a new Person Cenlered Active Support training programme for staff. The CAREis system being rolled out to all services at pace. The training programmes is a longer-lem) project, targeted at culture ehange. As noted previously, on thg positive side, we can r¢port that the first Covi&19 cases amongst seNce users were not experienced unts'l individuals came back lo the Trust from their Christmas 2021 break. This is a leslament lo Ihg work of the staff over the pandemic period, many of whom made considerable pensonal sacrifices to their own family livès to ensure the maintenance of social bubbles. We cannot thank them enough for what they did. COT has not welcomed new people to support in the last year, partly in response lo the pandemic, but lately in response tothe CQC report. Addressing the issues that have been identified is crits'cal and a period of gelling our service right and consolidating our offer, is right and necessary. A number of vxanaes therefore exist bul we wll not be seeking to fill them unts'l we are Gonfidenl we can offer the appropriate quality servi￿. Also as noted previously, it is Important lo rècognise that the care services we provide run al a Significant financial loss. We are committed lo funding this from other areas of the charity. including fundraising and inveslmenl gains, but with the continuing inereage in costs and expectations from local aLtthorities aThJ CQC and the real cost reductions in funding. this becomes ever more difficult. Goal 2.. To provide a varled, responslve and flnanclally sustslnable mlx of learning OPPOrtunltles for adults wSth learnlng disabilitie8 The 21-22 financial year has seen a gradual reduth'on in our reliance on Life Skills virtual activities and an increase in the number of students attending face to face sessions. Due lo the pandemic. and not wanting to expc)se thc)se we support to Covid-19 unnecessarily. we have not seen an increase in sludenl numbers from the previous year, with 73 Canterbury Oast Trust residents and tenants and 84 external students. 1115 lair lo say that the novelty value of remote acliviligs has come to an end for many of the people we support. The need for face-lo-face socialising and the meets'ng of peers and friends is so often a core element of what the life skills services offer. It has been heart-warming lo see friends meeting up again through our life ski118 projects after a long time apart due to the virus. All being well. we expect lo see an Increase in Life Skill student numbers up lo course capacity in the near fvture. We continue lo get an Increasing number of new student referrals lo these courses, particularty from students lèaving schools to transition into adult day activrties. CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 We offer a wailing list for new students if we do not have vacancie5 available for them slraighl away. We are also looking at bringing our catering life skills offer, through the Rare Breeds Centre rèstsuranl, back into operation shortly, with improved facilities. Day services and S¢xial eare settings In the UK must still adhere to sensible contr& measures. with testing, mask wearing and a responsible approach to social distsncing. The thnancial suslainabilily of our day services is key lo their long-lerm ftjlure and now that we are past the pandemic period, we will be reviewing how to develop these whilst providing a g¢)od servi¢e to those we support. GOAL 3: To raise awargn89s and a¢¢•ptsnu of leamlng disability through communty engagemont. Wilh the easing of social care restrictions, our life skills teams are boking forw8rd to planning 80me new exciting community events. Working within a Covi(>19 safe framework, we w111 be planning with our students lo attend events such as the Wealden Times Midsurnmer Fair, The Kent County Show and Sal￿00￿ caSt￿e lo sell or exhibit the plants, WO¢)dwork and artwork that the yludents produce as part of their life skills activities. Students wll be actively involved in every step of the events from preparation through lo the planniryJ, set up arKI interaction with customers. In addition lo these events, we are also planning the resumption of trips and visrts lo local attractions lo inspire and provide leaming opportunities for our students In our life skills projects. we often provide a link for our beneficiaries to interact with a wider community. This can be seen from the work we do in our lo￿1 communities, such as our Poulton Wood rangers taking responsibility for the village planters in Adinglon, to our Plants and Produce gardeners being commissioned Its supply plants and hanging baskets to Dymchurch Parish Council and Woodchurch in Bloom. Our lively prèsence on social media lakes advantage ofthese engagement opportunities lo Sp￿a￿ the word furtherabout the athievemenls of our students. The Rare Breeds Centre Is the home of most of our life skills projects and we are busy planning a series of new community engagement inilialives there. Much of our student's public inleradion was limited during the pandemic bul with the easing of social care restrictions we will be reintroducing our catering and retail students back into our customer facing restaurant operations. The Rare Breeds Centre had a slow start to the year wth the pandemic and a semi-dosed Easter due to restrictions. In the end, il welcomed some 117,000 visitors. close to pre-pandemic years. Some of the operational changes inlroduc8d to rnanage visitors during the pandemic have been ￿tained, for example the on-line booking system, with significant benefits both to the workings of the Centre and in managing numbers al peak times. Closure ofthe sile was also used as an Dpportunty ID upgrade the sile, including ground works, the provision of electriryly to Plants & Prod￿, installation of washing facilities around the sile, upgrading of signage and 5trenglhening the nefvlork links b¢knNeen COT and the Rare Breeds Centre. We are also about lo start a significant Improvement to the restaurant area, both for those we support lo restart th￿r catering skills work and for our visitors. The make-over of Some ofthe Farm outbuildings saw the in5tallatson of new he8t-exchange systems lo reduce energy usage and the opening ofa new Discovery Room for educats.on purposes and slorylelling. This enabled our Santa Chiistmas event lo retum to a live event. The Farm has not only brought Iho$e we $upport back into action, meets.ng wth the public and getting the public back engaged with learning disability, bul ha5 brought in a welcome financial contribuiion after a difficu year In 202D-21. CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 Promotlng the Work of COT The Trust's work was promoted through a variety of different channels, printed media Iwth regular advertising in largeled publications for families), through our websites IwvAV.C-O-t.org.uk and vA¥w.r8￿breeds.Org.ukI and social media (Facebook.. @rarebreedscentre, colcharily and @PoultonWo¢)d, Twitter.. @COTcharity, @rarebreedskent and @Poullonwoodl. We have grown our COT Facebwk frllowers lo over 1.2K. Facebook proved to be a usefijl tool to support communicats.ons with our families and SkJPPOrters with a good and consistent level of engagement with our posts. An awareness campaign on Facebook during Learning Disability We8k in June was well received. The theme was 'Art and Creativity. wth one particular pgst being shared multsplg ts'mes rgachiThJ over 20.000 people. Social media is an in¢rea$ingly important marketing tool to recruit staff and to promote all aspects of ourwork. It is expected lo expand in importance as b.me goes by. As well as rgcruitrnenl, social media has also been used lo promote a wder understanding ofthe Rare Breeds Centre's role as a training academy for adults wrfh learning di5abilty as well as contsnuing lo develop the charity's brand presence. Fundralslng Fundraising is a vital activity and we rocognise the perennial need to generate additional ftjnds lo support ¢ur charity in providing the quality of care and support we feel the people we serve, their families and our staff desetve. We lo maintain a mix of voluntary income streams including.. individual one-off and regular giving, donations from grant making trusts and legacy gifts. We benefit greatly from the support of the Charity Shop, Sidcup IHilradel vdunleers and the Friends of COT and from the community presence we hold through our Rare Breeds Centre. th competr(ion for fundraising extremely high, il is essential we arhculale clearfy the positive change we enable for our d1￿cl and indirect beneficiaries. In September 2021, we comrnissioned an external specialist consultsnl to facilitate a 'Theory of Change, ITDCI workshop wth the senior team. This important activity was the first stage towards our plans to implement impact reporting across our charity. A draft Toc document was produced and work continued lo refine outCOTnes and an identfy an evaluation ffamework. The Trustees confirm that COT'S fundraising actiwty is CDmpliant with the recognised standards offundraising as set Dut in the Code of Fundraising Praetice, as well a5 those required under charity law. The Trust participates in the Fundraising Regulato¢s voluntsry regu5atory ￿gIMe and does not employ the services of any third-party professional fundraising organisalions. No complaints have been received in relatlon lo COT'S fundraising activity. All fundraising activity is planned and monito￿d by the Fundraising Manager *nd Chief Executive lo ensure th81 it is not unreasonably intrusive or persistent and that no undue pressure is placed on any individual in relation lo donation requests. The families and friends of our servicg users continued to be the source of a significant percentage of our unrestricted donations for the financial year. During the year we received a number of extremely ge￿rouS donations and legacies from family members connected lo beneficiaries of the charity. We have 87 dedicated supporters making regular donations and one-off gifts were received from 138 individuals which included anonymous donors. Of the 522 individual donations made, 342 of these Wgfe made anonymously, online. Our Problematic Pop Quiz team continued their fundraising wlh an on-line version of their quiz hosting a number of successful events with corporate supporters. We continued wlh a campaign vla our Amazon wsh list which provided a wide range of items for our life skills training programme5 and homes. We were grateful lo the followrrfj organisalions lor their generous support during 2021122.. Friend5 of COT., Crafb'ng lor Carers., Volunteer Riders UK.. Civil Service Insuran￿ Charity Fund., The Wll Charitable Trust.. The Mark Leonard Trust,. Fellfool Charitsble Trust.. Waitrose Ltd", Province of East Kent Fre?masgns,' Wom¢n of Wadhursl", Internat￿nal Wine Challenge,. Rye Communty Shop,. Rotary Club of Sanokn'ch.. Crown Products,. io- CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 Silcocks Farm Shop,. GD Herbert Charitable Trust,. Gilbert Edgar Charitable Trust and The Charity Shop (Hilrade - a charity shop in Sidcup raising funds for COD supported the Trust with donations lotalling £54.540.66 in the year lo improve tho enjoyment and comfort of our re&denls and lenanls. on￿ again, the Friends of COT were unable lo undertake any major fundraising aetivilies due lo the pandemlc but were pleased to be able lo provide funding for a number of requests They kindly donated funds for 8 Christmas Ireal lo be spent at the HouselSeNice Managef s discretion to the value of £30.00 per Residenttrenanl. The Friends of COT are looking forward lo something nearer lo normal in the coming months. Plans a￿ afoot lo help Life Skills lo lake part in vaTiOUS off-site wmmunity events to showcase what they do and to help day service users to get expèrience in the communrty Even though all Members of COT are automatically Members of Friends, the￿ is onty quite a small number of aclive participants and they would welcome help from anyb¢ty has the welfare and interests of COT Beneficiaries at heart. GOAL 4.. To continue to recruit and retain a dÈdlcated, quallfled and stable workf0￿e Recruitment has been identified by the trustees as the highest risk to COT for a numbèr of years, with the wider impact on the sector demonslrab'ng the problems. It ¥emain$ so across many disciplines, but, in partieular, on Iheeare side. As noted, one key aspect of recruitment oflhe new Chief Executive was lo consider their wews on how we might address this issue. Stsff turnover during the year was 10.5Q/o, significantly lower than the average in the care sector of nearfy 35%. Retaining staff is critical and we want lo ensure that we have a structure and training & development programme in place that encourages staff to stay. Equally, we recognise the need to support existing staff in their ¢)wn joumeys, nob'ng that the pandemic period has been particularly difficult for many. The board would like to thank all those who have made SLKh efforts lo support peo al COT, recognising the impact on Ihemselvos and their families. Vvhilsl much professional development has taken place, there remains much to do. Over 1,000 hours of online learning was undertaken by staff during 2021-22. We recognise howgver, that online training is rarely as effective as f8ce-Io-f8ce training, so we are looking lo resume this wherever possible. The B08rd also recognises that it should embracè new training Initiative8 that recognise, industry changes in care culture. We are therefore looking lo implement a Person Cenlered Active Support training prggrammg across our care services, over th? next two year5. Volunteering The pandemic had a huge impact on volunteering operations al the Trust. but now we are able lo invite people back and lo engage with our residents. In the year 2021-22, 70 active volunteers gave around 3,950 hours ol Work lo those we support. Using goaal media and the Ashford Volunteer Hub, we have developed volunteering roles lo broadèn our reath. including some al the Rare Breeds Centre, in our adminislralion teams and most excitingly, as a befriender volunteer in one of our high@r needs homes. ￿lIst we would like to see more farnily members involved, particularly siblings, we are very grateful lo those who have engaged and thank them for the time and effort they have given us. It makes a very significant difference to those we support. GOAL 5 - Ensure COT has the necessary supportlng infrastructure to dellvor the Strateglc Plan In an efflcien( affordable and compllant way Compliance remains a key issue for COT. Our issues are wider than many due lo having both Care and the Rare Breeds Centre regulatory requirernents lo meet. Signthcanl wort( has been done lo improve the public facing facilities al the Ra￿ Breeds Cenlre, induding han(fv4ashing stations but also behind the stsnes improvements includiThJ for example, water run-off. li- CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 There is 8 eonlinuing improvemènt programme for our care homes and The Board has taken the decision to revamp the restaurant on the Farm to provide a better working environment, to provide additional life skills oppK)rtunities and to help keep the COTNmercial aspects ofthe sile working efficiently. Art al the Farm has been moved from the Oast House, a very attractive building but not ideal in terms of accessibility, to the Falcon's Cenlre. It is easy to forget the role of some of our ba¢k-room learns. During the year, our finance. estates and HR teams have worked hard to sUPPOrt day to day operations and provide the necessary oversight to manage the organisation effectively. We owe them all a huge vote of thanks. PLANS FOR THE FUTURE Working with the new Chief Executive, the Board will review the strategy and direcb'on of the (¥ganisalion, inrtially in the years lo 2024. The following strategic objectives wll guide the work of that review.. GOAL 1 - Provlde a rgsponslve. Safe. compllant and financially sustainable mlx of Ilvlng optlons for adults a leamlng dlsablllty- Ensure the supported living services return to at least a G¢X)d CQC rating,. Complete the roll-out of the CAREIS IT system.. implement the PCAS training programme., Reduce the operating defiryt on care services., Fulure-proof care accomm¢3Yab'on services in linewlh changirg seThice-userneeds and local authority commissioning priorities.. Integrate the new supported living properties at New Romney into the portfolio.. and Re-assure those we support, families, cofflmissioners and potential donors on the quality of services we provide. GOAL 2 Pfovlde an a8piratlonal. relevant and flnancialty sustalnable rangè of training and d8velopment opportunltles for adults wlth a learnlng dl$ablllty. Reinvigorate Ouf face-l¢>face life skills programm8s and encourage greller external participation." Retum to direct community engagement and parb'cipalion,. Re-e5tsbli5h our Rare Breeds Centre catering1rf8 skills offer., Raise the profile of COT Life Skills provision as a prev8nlalive health care seNice', and Achieve at least finanaal break-even on all Lrfe Skills programmes GOAL 3 - Ra160 awarnness and support for leamlng dlsablllty through positive engagement with local communltlos. Raise awareness and supportforthose with a learning disability through positrve engagement be￿en local communilies and the Rare Breeds Centre., Improve public awareness of the links btheen COT and the Rare Breeds Centre- Po811ion RBC as a first-choice visitor destinats'on for families within a 60-minute drive lime radius." and Generate at least £200K annual operating surplus from RBC operations (excluding Gift A"d on visitor admissions) GOAL 4 - RKruli devolop and rotain a d•dicated, qualified and stsble workforce Significantly Improve the recruilmenl rate lo stsff vacancies; Encourage staff retention through regular, appropriate and inspiring training, includiThJ the roll out of PCAS training., Minimise the impact of staff sickness absence., and Improve support and succession planning for key management roles 12 CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 GOAL 6 - Ensurg COT has tho necessary supportlng Infrastructure to doliver the Strateglc Plan In a efficignt, affordable and compliant way Challenge central adminislralive ovorhead for efficiency and effectivene￿., Complete implementation of the CAREis IT system., Ensu￿ all of our buildings and properties are dèveloped and maintsined to appropriate standards and ensure all compliance issues are Identified and m8naged', Improve compliance monitoring and rèporting in all areas., Improve stakeholder communications., Encourage greater volunteering to assist those we supp¢)rt'. at houses. wlh events and through the Friends teams., Increase our annual ftjndraising contribLrtion,' and Capture evidence of cors impact for all direct al￿ indirect beneficiaries INVESTMENT POLICY The Mem(xandum ofAssocialion allows the Trustees lo make and hold investments using monies not required for immediate use. The Trust has very significant investment in propety and has an Investment sub-committee, within the Finan￿ Committee. which is tasked with investing an agreed proportion of the cash deposits to improve investment returns. The Investment Policy was reviewed during the year and il was agreed that up lo £1 M of the Trust'5 cash reserves should conb'nue lo be invested wth the investment managers CCLA. The value of an initial investment of £750,000 made in 2015 stood at £1,432,113 as al 31 st March 2022. The Charity's assets are invested in line wth its objects. The Trustees do not wish lo adopt an exelusionary policy, bul individual investments may be exduded if perceived lo conflict with the Charity'5 objects, as discussed with CCLA. The investment objedive for the remainder of the Trust's reserves is to ensure they are readily available to meet unanticipated cash flow requi￿mentS. BORROIWIING AND RESERVES At 31 March 2022 the charity had total reserves of £9,857,77412021.. £9.$40 2241 which included £4.2m12021'. £4.3m} fepresenled by tangible fixed assets, £97.752 12021". £164,444) designated fvnds and £1,515.430 reslricled funds12021.' £1.533,6841. Frge reserves tolaled £4,030,953 {2021'. £3,541,162). It is the general pdicy of the Trust to ap its income towards its charitsble objectives as much as it reasonably can and hence lo avoid accumulating excessive reseNes. VThere conwdered appropriate- and being mindful not to overcommit the Charity- borrowing$ are undertaken lo fund elements of significant eapilal projects. The policy of the Trustees is to maintain al least the minimum of cash reserves and working capital sufficient lo meet known development plans, as well as the day-to-day needs of the Trust. whilst retaining a reserve to provide for the long term support of those il supports and to give security lo omployees. The Trustees also recognise the risk lo income posgd by factors outside the organisation's control, such as l¢xal authority commissioning decisions and fvnding.. social eare policy changes.. adverse weather at peak visitor times", competition from other visitor attraction5 or the outbreak of contagious disease. Having considered these factors. the Board of Trustees reviewed 11$ Reserves Policy duriro the year and agreed lo maintain a minimum of 4 months, and a tsrgel of 6 months of operating costs, al all times. This timeframe reflects thè naturè ollhe Trust's business as a social care provider and the requirementto safeguard all service users by helping them secure suitable allernalive a¢¢omm(xlthon in the event that the Charity ceased lo operate. -13- CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 At the end of 2021122 the Trust had borrowed £223,0718nd had £4,720,002 cash reserves. This represented 11.05 months of operating costs. recognised by Trustees lo be in excess of the Reserves Policy taryel and as discussed further under Going Concern. RESTRICTED AND UNRESTRICTED FUNDS Restricted incomg funds derive from donations. grants andlogacies received and are wt towards a variety of speufic caprtal projects and charitable activities. Unrestricted income funds may be design*ed or freely available for the Trust's general charitsble purpose. After setting aside restricted income funds the balance of the Trusf s available funds al the balance sheet dale are designalell as follows.. To charitable activities which the Trust intends to support Ovor the coming year. • To capital expenditure that is either contractually committed or is planned for the eoming financial year.. Ihen . Assets held for charitable use, up to a Ma￿muM of the net book value of ihose fixed assets al the balance Sheet date. If, after designating unrestricted fvnds as above, there are funds remaining, these are Irealed as unrestricted free reserves. The Trustees do not consider il necessary lo retain income in respect of the Trust's designated fund activities. Mthilst thase ftjnds have bean eamiarked by the Trustees for porticular purposes or uses, they are not mmilled or reslricled legally. GOING CONCERN The Trustees have considered whether It 18 appropriate to prepare the financial statements on the basis that the group and charity is a going concern. The assessment has included the historical impa¢l of the Covid-19 outbreak. the potential impact of re-occurrence and additional specific financial risks arising from sanctions and Challènges associated with the recent CQC report and KCC findings. Covid-19 had a significant impact on CanteTbury Oast Trust's operations on a day to day basis, primarily during the previous financial ygar 2020121 year, bul also with residual implications through the financial year 2021122, with tiered restrictions to deal with the omicron variant continuing to impaet the continuity of daily life. The finanaal impact of the pandemic was mitigated by carefvl, prudent control by the Trust. deferring planned expenditure on Repairs and Maintenance, accessing Govemment grant schemes for Job Retention and Infedion Control, and benefits from ternporary reductions in the VAT rate. These measures together supported the further accumulation of cash reserves as at 31103122, which now provide a base to address the recent challenges raised by CQC and KCC. The impact of the CQC report as well as the difficult￿$ in recruiting and retaining staff and the wider ewnomi environment. Mean that we have not and don't anlicipale for the lime being, filling vacancies within either our residential or supported living seNices. This necessilales more aggressive risk scenario planning for Cash Flow projections. There is planned commitment of expenditure on new premises al Old Port Place. scheduled for completion by the lime this repDrt is published, al a cost of £835K, which will provide flexibility in our service offering. Subsequent lo the year end. we have significantly accelerated expenditure on re50urcing systems, recruitment, training and maintenance wort(s to address challenges raised by the regulatory aulhorilies. The current financial projection for the Trust for the 2022123 f15cal year is a deficit in excess of £500k, with further expenditure boing considered. 14- CANTERBURY OAST TRUST TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2022 In the light of these challenges, the trustees have ￿vieWed the financial st8lemenls for the group and charity and have in particular considered its anlicipaled income, conlingenaes, reserves and expenditure commitments for a period of twelve months from the dale ofapproval oflhese financial stalemenls. Vvllh regard to the charity the Tru51ees have reviewed the finanual projects'ons. budgets and cash posibon for the period up to October 2023 and are satisfied that the charity has adequate fInan￿S (including foreeast Cash and investments Ihroughoul the period) and r8serves lo maintain rts abilty lo operate Sl￿ceSSfUlty without additional fundiThJ. The charity conlillues lo provide necessary support to the trading subsidiary, COT Trading Limited. follo¥Mng the disruption to operab'ons following the pandemic. Considering all of these points together. the Tmslees do not conslder that the residual impacts of the Covi¢ 19 pandemic, nor the sanctions imposed by CQC and KCC, wll jeopardise the tharily'5 g￿ng con￿rn status. CAPITAL EXPENDITURE In pursuit of the Trust's obIects'ves, infrastructure investment continued across all our services in the year 2021- 22. wtth £133,771 expended on capital projects including £61,077 on infrastructure improvements. PENSIONS To compty with cu￿￿nt lfjgislab'on COT supports employees, ability lo invest in the (defined conthbution} arrangements offered ty The Peoples, Pen&on. The Trustee Board lof COTI does not give employees finanaal ￿ViCe but doe$ rnonilor porfomanrk of the funds offered by The peOp￿e8. Penslon. EVENTS AFTER THE REPORTING DATE Following the year end. the charity committed lo buy tsyo propert4.es with a lotsl purchase price of £835,000. The pur¢ha$g of th8$9 is expected to complete by the end of octob￿ 2022. 15- CANTERBURY OAST TRUST TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2022 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees Iwho are atso directors of Canterbury Oast Trust for the purposes of Company lawl are responsible for preparing the Trustees, report and the financial slaternenls in accordance with applicable law and United Kingdom Accounting Stsndards Iuniled ￿ngdoM Generally Accepte(J Accounting Practice). Company and charity law requires the Trustees to prepare financial statements for each financi81 yeaf, which give a true and fail wew of the slate of affairs of the charitable Company and of the incoming ￿$oUrCeS and application of resources, including the income and expenditure, of the company for that period. In prepanng these financial statements, the Trustees are required to.. select suitable a￿untIng policies and apply them consislenlly., observe the method5 and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent", and prepare the financial statements on an on-going coneern L)asis unless il is inappropriate lo presume the charitable company will continue in operation. The Trustees are rewnsible for keeping adequate accounting records Ihal dis¢lo$ewith reasonable accuracy, al any time, the financial position of the company and enable them to ensure that the finanaal statements comply with the Companies Act 2006 las amended). They are also responsible for safeguarding the assets of the company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are resptsn$ible for the maintenanee and integrty of the corporate and financial informats'on included on thi5 charitsble company's website. Legislation in the United Kingdom goveming the preparats.on and dissemination of fin8nci81 statements may differ from legislation in 4)ther jurisdithons. PROVISION OF INFOR￿TIoN TO TME AUDITOR So far as each of Ihe Trustees is aware at the lime this report is approved the￿ Is no relevant audit information of which the Trust's auditor is unaware and the Trustees have tsken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and lo ensure that the auditor 1$ aware of that information. AUDITOR In accordance with the charity's Memorandum and Arti¢le5 of Association, a re501ution proposing that RSM UK Audit LLP be reappointed as auditor of the charity will be proposed al the Annual General Meetsng on Saturday 15th October 2022. APPROVAL This report was approved by the Trustees on .... 2022 and signed ￿ their behalf by.. Russell Walters, Chair 16- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CANTERBURY OAST TRUST Oprnion We have audited the financial statemenls of Cante￿ury Oasl Twsl Ilhe'tharitabl• company'l for Ihe year ended 31 March 2022 which comprise the Staternent of Financial Activities. the Balance Shèat, the Statement of Cash Flows and notes to the financial statemen15. including a sumrnary of Significant accounting pdicies. The financjal reporting framework that has been aPpl￿d in their preparation is applioble law and United Kingdom Accountsng Stsndards. including FRS 102 'The Financial Reporting Stsndard applicabl8 in th8 UK and Republic of Ireland" Iunrted Kingdom Gener81ty Accepted Accounting Prac¢tel. In oui (>pinion the fin8neial statemènts-. give a true and lair view of the slate of the charitable Company's aff8irs as at 31 March 2022 and of its incoming resources and application ot resources, irLcludin9 its income and expenditure, for the year then ended.. hava béen prop8rly pr8par8d in accordance with United Kingdom Generalty Acc•pt•d Accounting PracttC•,' and have been prepa￿d in ae¢ordance wlth the requlrements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ with International Standards on AudSting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further describ8d in the Auditorfs responsibilrties for the audil of the finanaal 5talemenl5 section of our report. We are independènt of the Charitab￿ cornpany in accordance with the ethical ￿quirementS that are ¥elevant to our audit of the financial statements in the UK, incI￿11ng the FRC'S Ethical Standaid. and we have fulfilled our other ethical responsibilities in accordan￿ wrth these requirements. We believe ihal the audit evidence we have obtained is SLthuent and appropriate to provide a basis for our opinion. Conclusion8 rèlating to going conc•m In auditing the financial statements. we have concluded that Ihè tmstees, use of the going concern basis of accounting in the preparats'on of the fin8ncial 5t8temènts is appropriate. Based on the work we have performed. we have not identsfied any material unctsrtainties rdating to events or conditions that. individualty or collectively. may cast significant doubt on the charitable company's ability lo continue as a going concem for a period of at leas1 ￿efve fflonlhs from wh9n th• financial statements are aulhorised for issue. Our responsibilities and the re5ponsibiliiies of the trustees with respect lo golng concem ar8 d8scribed in the re￿vant sections of this report. Other Inforniatlon Th• other information comprisès the infomiation included in the Truslee5' Report other than the fmancial statements and our auditors report Ihereon. The trustees are responsible for the other information contained within the Trustees. Report. Our opinion on the financial statements does not wver the othér infomiation and, except to the extent otherwise expliatly stated in our report, we do not express any form of assurance conclusion theieon. Our responsibility is lo read the other informabon and, in doing so, consider whether the other infomiation is materially incon51Stent with the financial 5tstements or our knowledge obtained in the course of the audit or othen￿lSe appears lo be materially mi55tatèd. If we Idèntify such material inconsislencbes or apparent material rnlsslatements, we are required lo detemiine whether this gives rise to a material misstalemenl in the financial staternent8 themselves. If. based on the work we have performed, we conclude that there is a rnalerial misslalement of this other infomalion. we a￿ required lo ￿port that fact. havè nothing to report in this regard. Opinion on other matt•rs pres¢rSbad by th• Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the informabon giv8n in the Trustees, Report and the incorporated Strategic Rèport for the financial year for wh￿h the financial statements are p￿Pared is consistent with the fjnancial Statements". and the Trustees, Report and the incorporated Strategic Report have been prepared in accordance wth applicable gal iequirements. 17- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CANTERBURY OAST TRUST (CONTINUED) Matters on whlch we are requlred to rèport by •xc•ption In the light of the knowledge atml understanding of the chantable cornpany and its envIron￿ent obtained in the course of tho audit. we have not identified rnaterial mi5Statement5 in the StTalegic Report and the Tru5tees' Report. We have nolhing to ￿port in respect of the following m8tter$ Whe￿ the Companks Act 2006 requlres us lo report to you if. in our opinion.. adequate accounting records have not beeTr kept, or returns adequate for our audit have not been r￿eNed from branches not visrted by us". or the finanrial slalements are not in agreement with the accounting records and returns., or certain disclosures of tnJsteÈs' rèmuneration Specified by law are not rnade,. or we have nol received all the information and explanations we require for our aL￿*t. R8sponsibilitigs of Trustee¥ As explained more fully in the Statement of Tru$tee$' Responsibilities, on pag¢ 16, the Iru$tee$ (who are also the directors of the charitable company for the purwses ol company lawl are responsible for the preparation of the rinanGial statements and for being satisfied that they give a true and lair view, and for such intemal control as the Trust8és' deterrnine is ne￿$sary to enable the preparation of financAal statements that are free from material misstslement. whether due to fraud or error. In preparing the ffinancial slalèments. the Trusiees are responsible lor assessing the tharitable company's abilty to continue as a 90ing concèm, disc105ing, as applrcable, rnattgls related lo going conGem and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to ￿8$e operations, or have no realistic alternats.ve but to do so. The •x¢ent to whlch tho audlt was consldered capable of detectlng Irregularttles, Includlng fraud Irregularities are instances of non-eomplianc8 Wlth laws and regulations. The objectivès of our audit Sre to obtain sufficient appropriate audit evidence ￿gardIng complianc• with laws and regulations that have a direct •ffect on the determination of material arnounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and ￿gUlationS that may have a material effect on the financial slalernents. and to respond appropriately to identified or suspected non-compliance wth laws and regulatsons idents.fvad during the audit. In relation to fraud, ihe objectives of our audit are to identify and assess the risk of materlal misslatemenl of the financial statements due to fraud. to obtain sufficient appropriate audit evidence ￿gardIng the assessed risks of material rnisslatemenl due lo fraud through designing and implementing appropriate ￿SpOnSe$ and to respond appropriately to fraud or suspected fraud identified during the audit. However, it is the primary rèsponsibility of management, with Ihe oversight of th95e charged wlh govemance, lo enstsre that the entty's operations 8re CortdU￿ed in 8ceord8n(* with the provlsions of18ws and rtgulalion8 and for the prevention and detection of fraud. In idents'fying and assessing rtsks of material misstalemenl In respe¢t of irwularities, including fraud, lh8 audit engagernent team.. obtained an understanding of the nature of the sector, including the legal and regulatory framework that lh8 harilable company operates in and how Ihe chaiitable company is complying with the legal and regulatory framework., inquired of management, and those charged with govemance, about Iheir own identification and assessmenl ol the risks ol irregularities, including any known actual. suspected or alleged instances of fraud", discussed matters about nonsets Tangible ass•ts Investments 14 15 4,213,639 1,455,213 4.300.934 1.306,555 S,688,852 5.807,489 Current aBset• Stocks Debtors Cash at bank and in hand 16 17 63,779 389.463 4,720,002 55,934 987,637 3,770,326 5.173,244 4.793.897 Creditorn.. amount* l•lling du• ¥Athln on• yèar 18 1797,2031 1643.264} Nel current assets 4,376.041 4.150.633 Total assets less current liabilities 10,044.893 9,758,122 Crndltors.. amounts falling due after more than one year 1187,1191 1217,8981 Ngt a$¥gts 9,857.774 9.540,224 Income fund$ Restricted funds nr 24 1,515,430 1.533.684 Designated funds General unr&slri¢t¢d funds 97,752 8.244.592 164,444 7,842,098 8,342.344 8.008,540 9,857.774 9.540.224 The finaniial statements were approved by the TN818es on .... Russell Walters. Chai￿an Trusl•tr Company Règlstratlon No. 01897198 21 CANTERBURY OAST TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Not•• Cash flowg from operatlng act1v1t￿8 Cash generated from operab'ons Interest payable 1,113,312 IS,2411 349,862 15,5211 10 N•1 cash g•nornted from operdtlng actlvltlo$ 1,108,071 344,341 Investlng actlvlties Purchase of tangible ffixed assèts Proceeds on disposal of tsngible fixed assets Receipts from repayment of loan$ from tradlng subsidiary Interest ￿e1Ve￿ 1133,7711 {94,3471 4,232 910,364 I,coo 923 1,000 2,903 Net cash lusod Inllg•n•rat•d from Inve6tSng aC￿VItIeS 1127,618) 819.920 Financing activities Repayment of bank knan$ 130.7791 130.2141 Net cash used In flnanclng actlvltl•s 130,779 130.2141 Net Incr•as• In cash and cash •qulval•nts 949,678 1,134,047 Cash and cash equivalents at beginning of year 3,770,328 2.638.279 Ca$h and cash equSvalents at ond ol year 4,720,002 3,770,326 -22_ CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting poli¢i•$ Charity infomation Canterbury Oasl Trust is a privatè company limited by guarantee incorporated in England and Wales. The registered office is Highl8nd5 Farm, Woodchurch, Ashford. Kent, TN26 3RJ. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per voting member of Ihe Trust. The Iw$t$ obJe¢tives and aims are disdo8ed in the Tru$l$ès' and Strategic Report. 1.1 Accountlng conventlon These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable ITr the UK and Republic ol Ireland" the requirèments of the Companies Act 2006 and under the histOriG41 cost convention, modified for ￿rt81n fixed asset investments. The financial ststements have also been prepared in accordance with the accounting policies set out in more detail below, to comply wrth the charity's governing document. the Charities Act 2011 and Accounting and Reporting t)y Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with The Financial Reporting Standard applicablè In the UK and Republic of Ireland published Sn October 2019 Ithe FRS 102 Charities SORP 20191. The trust constllules a public benefrt ents'ty as defined by FRS102. The financial statements are prepared in $l*rling. whlch is the fjjnctional currency of the charity. Monetsry amounts in these financial statèmènts a￿ rounded to the nearest £. 1.2 Golng concern The Trustees have considered whether il is appropriate to prepare the finanaal st8tements on the basis that the group and charity 13 a going concem. Including the impact of the on90ing Covid-19 pandemic on that assessment. The Tru51ees have reviewed the financlal statements for the group and charity and have in particular considered r(s anticipated income Iwith secure contracts in place for charitable acliwties wth the Local Authorityl and expenditurè commitments for a period of twelve months from the date of approval of these financial slat•mènts. With regard lo the charity, the Ttustèès have reviewed the ￿n$￿Ial pfoJe¢lions, budgets and ¢ash position for the period and are salisfied that the charity has adequate finances lin¢ludlng fore¢ast ¢ash and Investments throughout the period) and r8s•rves to maintain its ability to operate successfully wrthout addrtional funding. The charity is supporting the trading subsidiary during this period whilst its adivlties are impacted by the pandemic. The Trustee5 therefore do not consider that the impact of Ihe Covid 19 pandemic will have a material impact on the charity's going concem status. 1.3 Charitablè funds Unrestricted funds are available for use at the discretion of the Truste•s in furtheran￿ of their charitable objects've5 unless the ftJnd8 have been designated for other purposes. Design8le4 fvnds comprise unrestricted funds that have been set aside by the Trustees for parU¢ular purposes. The aim and use of each deswJnaled lund is sét out in the notes lo the financial statements. Restrided fund5 8re subjèct to specific condition5 by donors as lo how they may be used. The puitvses and uses of the restricted funds arè set out in the notes lo the financi81 statements. Investment income, gains and losses a￿ allo¢ated to the appropriate fvnd. -23- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ounting poll¢i¢$ IContinu•dl 1.4 Income Income is rècognised when the charity has entilement to the funds, after any perforrn8nce conditions have bèen mèt, the amounts can be maasur8d rèliably, and it is probable that income wll be received. Gilts in kind donated foi dislribulK)n are included at valuation and recognised as income when they are dlstribuled to the proje¢ts. Grfts donated for resale are included as income when they are sold. Donated fac¢lrties are included at the value to the charity where this can be quantified and a third party 6 bt8ring the cost. No amounts are included in the financial statements for services donaled by vdunleers. Leg8¢ies are ￿cOgnised on receipt or othenNlse If the charity has been notffied of an impending distribution. the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Donated services or facilities, which eomprisè donated seNices, are included in income al a valuation which is an estimate of the financial cost borne by the donor where such a cost is quanlrfiable and me8sur8blÈ. No income is recognised where there Is no financial cost bome by a third party. IrTrcotne tax r8ix)v8rable in relatson to donations received under Gift Aid is recognised at the time of the donation. Income received in re$pert of annual membership to the Rare Breeds Centre is recognise¢J over Ihe period of the membership. In¢ome tsx reCo￿rable in r¢lation to inv$$tmènts incomè is r8cognised at the lime the investment is receiV8b￿. Interest income is recognised when il is probable that thè &conomic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference lo Ihe principal outstanding and th• 8ffectlV8 interest rate applicable. 1.5 Expendltu All expenditure is accounted for on an accruals basis and has been inojuded under expense ¢ategories th81 aggregale all costs for allocation to activities. Where c05t5 cannot be directty attributèd to pa￿"cUlar activitiès they have been allocated on 8 ba818 consistent with the use of the rèsources. Support costs compn5e in the main central staff costs. these are allocated between ¢*aritable adlvrties and governance costs (central adrninistrationl based on actual 01 eslirnaled lime employed by Staff in these functions. Govemance costs are those incurred in connectK)n with 8dministration of the charity and compliance with constitut￿nal and statulory requirements. 1.6 Tanglble fixed assets l asse15 ¢051ing rnore than £1,OCKJ are capitalised. Tangible fixed assgts are initially rneasured at cost subsequentty rneasured at cost, net of depreciation and any impaim)ent losses. Depreciation is recognised so a5 to write off the cost of assets lèss their residual values over their useful INes on the following bases.. Freehold land and buiklings Fixtures and fith'ngs Motor vehiC￿S 2-15% straight line 15_25tsA straight line 25% straight line -24- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles Icontlnuedl Freehold land and assets in the ¢our5e of construclion are not depreciated until available for use. The gain or loss arising on thg dispo$al of an as8?t is determined as the difference be￿en the sale pro￿ell$ and the carying value of the asset. and 18 re¢ognised in net in¢omellexpendilure} for the year. 1.7 Flx•d asi•t inv•#tments Fixed asset investments are initialty measured at transadion price exduding transaction costs. and are subsequently measured at fair value at each reporb.ng date. Changes in fair Val￿ are recognised in net income/lexpend¢turel for the year. Transactlon costs ar8 expensed as incurred. Interests in subsidiar￿$ are initially measured al Cost and subsequentty measured at cost less any accumulated impaimient losses. Th• investrnents ale assessed fvr impaitrnent at each reporting date and any impairmenl losses or ￿VerSalS of impaimient losses are recognised immediately in profft 01 loss. A 8ubsidi8ry is an entity controlled by ihe charity. Control is the power to govern the flnan¢lal and opewab'ng policies of the entity 50 as to obtain benefits frorn its activities. 1.8 Impairmont of flxed ass•ts At each r8POrting end date, the charity reV￿w5 the carrying amount5 of its tangible assets to detemine whether there is any indication that those assets have suffered an impairment loss If any such Ind￿atIon exists, the recoverable amount of the asset is eslimatod in order to detemine the extent of the impaimient loss lif any). 1.9 Stocks Stocks and work in pro9￿$$ a￿ valued at the lower of cost and net realiSab￿ value after making du8 allowance for obsolète and slow-moving stocks_ Cost indudes all direct costs and an appropriate proports.on of fixed and variable overheads. 1.10 Cash and cash equlvalents Cash and cash equivalents indude cash in hand, deposits held 81 call with banks. other short-term liquid inv&$lmenl$ with otigin81 maturities of three months or less. 1.11 Flnan¢lo1 in$truments The chatity has applied the provisions of Section 11 '8asic Finanaal Instruments, of FRS 102 to all 01 it8 financial inslrumenls. Financial in3lruments are recognised in the tharity's balance sheet when the charity becomes party lo the conlractU81 provisions of the instrument. Financial ass8tS 8nd liabilitiès a￿ offset. with the nel amount5 presented in the finanaal staternents. whèn thère is 8 1eg81ty enfor￿able right to set off the recogn15ed amounts and ihere is an intention to settle on a net basis or to rèalise thè asset and settle the liability simultaneously. Basic financial assèts which in¢lvd¢ tra(18 and other ¢Jeblors. 8mounls owed by group undertakings, are initialty measured at transaction price indudtng transaction costs and are subsequently carried at amortised cost, being transaction price less amounts setUÈd And bss any impainneni Ios8e$. Prepayments are valued at the amount prepaid net of any trade discounts due. Credito(s are recognised where the charty has a present obligation r•sultin9 from a past 8vgnl INql will probably resutt in the transfer ol fijnds to a third party and the amount due to settle the obligats.on ¢an be measured or estimated reliably. Creditors are normally recognised at thelr settlement amount after allowing for any trade discounts due. -25- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollclos {Contlnuodl 1.12 Taxatlon The Company is a regISte￿d charity and as such its income and gains falling wlhin Sections 371 to 489 of Ihe Corporats'on Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exernpt from orpordlion lax lo the exlenl that they are applied to its charitable objective5. 1.13 Employ0• b8ngfit8 The costs of short-term employee beneffts are recognised as a liability and an expense, unles5 those costs are required 1¢ be recognised as part ot the cost of stock or fixed a58ets_ Th& cost of any unused holiday enlillemenl is recognised in the period in which th• •mptyèè's services are received. Terminatlon beneffts are re¢ognlsed immediately as an expense when the chamty is demonstrably commKted to temiinate the employment of an employee or to provide termination benefits. 1.14 Retlrement beneflts For define¢J contributKJn schemas the amount chargèd to net income or expenditure is the contributM)ns payable in the year. Dtfferences be￿en contributions payable in the year and conln'butions actualty paid are shown as either accruals or prepayments. 1.15 Con801idation The Trust is exempt from the requirements to p￿pare group accounts by virtue of sethon 402 of the Cornpanies Act 2006. These finanaal statements therefore present infomiation about lh8 company as an individual undertaking and not about its group. Charities SORP allows a subsidiary to be excluded from consolidat￿n if its resuts are not rnalerial to the group. In the opinion of the Trustees the tumover and net assets of COT Trading Lirniled are not material in the context ol these accounts and therefore consol'dated accounts have not been piep8red. det8ils of this subsidiary are given in note 15. 1.16 Government grants Govefnment grants are recx)gnised al the fair value of the a83et received or receNable when Ihere is reasonable assurance that the grant conditions will be met and the giants will be received. A grant that spaafiès pèrfomiancè conditions 18 rgcognisèd in incom8 vthen tha perfomiance condthons are m•t. a grant doès not specify perfoifflancè conditions it Is r8cognisad in incom• when the proc•tds ale received or reTrivable. A grant re¢eived before the recognrtion criteria are satisfied is recognised as a Ilability. Crltlcal accountlng estlmate8 and ludggmonts In the application of the charity'6 accounting policRs, the Tnjstees a￿ required lo make judgements, esb'rn81es and assumplions about the carrying amount of assets and liabilitie5 that are not readily apparent from other sources. The eslimates and associated assumptions are based on historical experience and other faclors that are considered lo be relevant. Aclual results may differ from these eslimales. The estifflates and undertying as8umplions are reviewed on an ongoing basis. Revision8 lo accounting èstimatès are rècognised in the period in which thè Èstimate is rÈvis8d whèrè tha rèvision affècts (x)ly that period, or in thè period of the rèvision 8nd ￿t￿rÈ perfods wherè the revision affects both current and future pariods. Crftlcal Judgemonts Cvnsolldatlon As detailed in 1.15 the Trusteès Considèr the r98uIts of the subsidiary lo be immal¢rfal to the group and as such they have not prepared consolidated accounts. 26- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Crfllcal accountlng estlrnatgs and ludgoments Iconllnuodl K•y $oure•8 of estimation un¢ertainty Allocation of 8upport Costs As detsiled in 1.5 support costs are allocated betr4een chariiable acts'vities and govemance costs Icentral administrationl based on actual or estimated time employed by staff in these hjnctions. Oonations and legacies Unrestricted Restricted funds nds Totsl 2022 Total 2021 Donations and gifts (see below) Legacies ￿CeiVable Market value of pr￿￿on0 lunding 369.665 15.000 92,143 461,808 15.0(M) 409.682 20.015 3.120 384,665 92.143 476,808 432.817 For the year ended 31 March 2021 348.733 84,084 Donatlon• and gifts Grants Individual 9rft5 Charitable foundations Corporate donors 125,198 240,187 3,800 500 54,541 20,902 13,SCX) 3,200 179,739 261,069 17,300 3.700 38,242 335,293 17,3SO 18,797 369.665 92,143 461,808 409,682 Charltsble activitles Unrestrleted Total 2021 Care and Ille Social gkllls •nterpri¥e groups Total 2022 Income by charitable activities 4,991,130 1,155.000 8.146.130 5,123,898 Sorial enterprise group8 comprise the Rare Breeds Centre farm, restaurant and marketing sectors. In the prior year £25,000 was included wlhin social entefprises inc¢m¥ from Ashford Borough Counc41 in thè foiffl ol a grant in iespeGI of the imp8cI of COVID-19. There are no unfulffilled Gonditions or other contingencies alta¢hed lo the giant. -27- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO) FOR THE YEAR ENDED 31 MARCH 2022 Investments Unr•8trl¢tsd Restrl¢ted funds fund8 Total 2022 Total 2021 Interest receivable 887 923 2.903 For the y•ar endgd 31 March 2021 1,06S 1.838 Other Sneom• 2022 2021 Net gain on disp08al of tsngible fixed assets Grants recelve(I 1.116 59,887 830.449 495.400 61,003 1,325,849 Grants received rep￿sent amounts received in respect of contributions lowards stsff $818ry ¢OSts undor the coronavirus job retention scheme. Th•r• are no unfulfilled conditions or other ￿nt'n9￿nC1èS attad)ed to thè grant. Ralslng funds Un￿StrICted Rèitriet•d lund$ funds Total 2022 Total 2021 Fundralslng and publlclty Advertising Staff costs 7,563 50,792 2,568 10,131 50,792 11,536 40.064 58,355 2,568 60,923 S1.600 For the year ended 31 M•rch 2021 49.429 2,171 28- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charltabl• aetlvltles Care and1Sfe Soclat ¥klll¥ ?ntorprl8e groups Totsl 2022 Totsl 2021 Staff costs Deprèciation and impaimient Purc*ases Utility and telephone costs Vehicle costs Insuiancè Repairs and maintenance Bank charges Advertising Miscellaneous Postage and stationery 3,456,093 725.303 175.689 148,298 53,855 91,316 254,14LI 597,380 4.053,473 80,2 205,599 232,831 408.520 23,298 171,596 8.111 81.966 22,558 113,874 89,931 344,071 44,784 44,784 24,745 24,745 13,893 15,448 6,249 13.518 3,707.499 200.785 256,895 179,265 52,018 105,340 295,681 16.865 11,977 17.620 10,842 1,753 7,287 4,313,714 1,143,876 5,457.590 4,854.767 Share of support costs {3ee note 91 Share of govemance costs (see note 91 821,023 54.719 110.137 7.339 931,160 62,058 903,044 64.205 5,189,456 1,261.352 6,4SO,808 5.822.016 29- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charltabl• a¢tlvltl•$ Icondnuedl Care and life Soclal Bklll$ enterpri$• groups Totsl 2022 Totsl 2021 Analysis by fund Unr8stricted funds R$$lricted funds 5,107,760 1,235,183 8,342,943 81,698 26,169 107,865 5,189.456 1261,352 8,4SO.808 Forth• year ènd•d 31 March 2021 Unrestricted funds Restricted funds 4,728,962 61,638 988,652 42.784 5,717.614 104.402 4,790,600 1,031.416 5,822.016 Support costs Support Gov•rnanc• ¢o¥ts costs 2022 2021 staff costs Depreciation Other costs Professional Telephone Postage and statlonery Bank charges 724.438 12.351 102.303 46,984 20,815 18,151 6.118 54,528 778,966 12.351 102.904 50.520 22.382 19.517 6,578 79S,194 10,799 85,217 32,793 18,052 20,767 4.427 3.536 1,567 931.180 62,058 993.218 967,249 All support and governance costs are attributable to charrt8ble actiwties. The govemance costs have been allocated in proportv)n lo the direct o)sts incurrèd in r•spo¢t of èach activity. 10 Oth•r •xp•ndltur• Unr•strtct•d Total 2021 Total 2022 Bank Inte￿$t paid 5,241 5,521 30- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11 N•t movement in lund$ 2022 2021 Net m0veW￿nI in fvnds 1$ stat8d after chargingllcreditingl Govemment grants Audlt of the financial statements olth9 company Fees payablè to tha company's auditor for non-audrt $eNI¢oS Dep￿CiatiOn of owned tangible frrted assets Profit on tJi8posal of tangible ffixed assets Operating lease charges 159.8871 18.500 8,750 217.950 11,1161 1495,4001 17.250 8.150 211.584 1830.4491 1.247 12 Employ8•9 Number of omployeeg The average tnonlhty number employees during trTre yèar was.. 2022 Number 2021 Number Support and re5Klenl setvl¢es Administration Commeru81. markellng and appeals 137 15 45 143 16 52 197 211 Employffl•nt costs 2022 2021 Wage5 and salaries So￿?1 secunty costs other pension costs 3,972.611 317.093 80.990 3,873,944 305.523 81,403 4,370,694 4,260,870 Redundancy payments m8d& or wmmrtted 18,675 The number of •mployees whose annual ￿muner8￿"0n, excluding employee pension. was £80,000 or more 2022 Number 2021 Number £70,001- £80,000 The Trust Considers ihe Board of Tru51ees and thè Chief Executive as thoir key management personnel. The total employments beneffts including employer pension and national insurance contributions of the k9y managernenl personnel was £90,43512021." £88,588). The tharity operates a defined ¢ontributs"on pension scheme for all qualfying employees in th• Unitad Kingdom. The assets of thè sch8me a￿ held separatety from those of the charity In an Independentty administered fvnd. The Contributions payable by the ch8rtty and charged to the statomfjnt of income and retained earnin95 in the yèar amounted lo £80.99012021". £81,403). 31 CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 13 Trustees None of the trustee5 lor any persons connected with them) received any remuneration or benefrts from Ihe Charity during the year12021.' nill. During the year 112021.. nil) Iruslee ￿CeIVed reimbursement of expenses amountlng to £4612021.. £nlll. 14 TanglbSe flxed assets Fr8ohold lènd Flxturo9 and Ilotor vebicf89 and bulldlng8 Totsl ¢￿t At 1 April 2021 Additions Disposals 5,643,158 41,072 806,329 61.077 118.3761 291,240 31,622 142,501 6,740,727 133,771 160,8771 At 31 March 2022 5,684,230 849.030 280.361 6,813.621 Dèpr•elatlon and impaim)•nt At 1 Apfil 2021 Depreciation charged in the year Eliminated In respect of disposal$ 1,626.932 112,957 573,690 74.9C6 115,2601 239,171 30.087 142,5011 2.439,793 217.950 157,7611 At 31 March 2022 1,739,889 633,336 226.757 2.599,982 Carrylng amount At 31 March 2022 3,944,341 215,694 53,804 4.213.639 At 31 Marth 2021 4,016,226 232,639 52,069 4.300,934 Includéd inland and buildings is freéhold land at cost of £100.00012021.. £1CMJ.0001 which 58 not depreci8ted. Land and buildings pre-dating 1993 are carried 81 Ihe lower of cost and open market value based on a professional valuation obtained on 13 July 1993 by Edward Symons, Chartered Surveyors. Sut)sequent additions are valued at cost. Freehold property primarily consists of properties from which the cttaritable activities of the Trust are undertaken, some ol these properties are especially adapted for providing care services or are unusual in nature (Rare Breeds Centrel and the market value of these propert¢es is Thjt readily available. The Insuran￿ cost of ￿tsu11d1ng all the properties is estimated at £21.8m 12021.. £21.5rn1. In the opinion of the Trustees the market value of the freehold property stated in these accounts is in excess of book value but much less than the insufance rebuild cost. -32- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15 Fix•d a8S•t inv••tm•nts Unlisted Othèr investmènts In¥¢slm•nts Totsl Cost or valuation At 1 April 2021 Unrealised g•n$ 1,282,455 149,658 24,100 1.306,555 149,658 At 31 March 2022 1,432.113 24,100 1,458,213 Impairment At 1 April 2021 Repayments 1,(X)O 1,OC At 31 March 2022 1,CX)O 1,OC Carrylng afflount At 31 Mar¢h 2022 1,432,113 23,100 1,455,213 Al 31 March 2021 1,282,455 24.100 1.306,SS5 2022 2021 Other Investments comprise.. Investments in subsidi8ries Loans lo subsidiaries 100 24.CK)O 23.000 23.100 24.100 The holds 1rx) shares of £1 each in its wholty owned lrnding subsidiary company COT Tfading Limited which Is incorporated in the United Kingdom. The registe￿d offic& of COT Trading Limited is Highlands Farm, Woodchurch, Ashford, Kent, TN26 3RJ. The3e shares are the only shares allotted. called up and fully pa￿. The activiti&s comprise running the retail operations of the Rar8 Breed Cent￿. The results are not consolidated per accounting policy 1.15. 16 Stocks 2022 2021 Goods for resale 63,779 55,934 33. CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 17 Debtor 2022 2021 Amaurtta falling du• within onè yèar. Trade debtors Amounts due from fellow group undertaking OtheT debtors P￿paYrnents and accrued income 189,662 18,985 94,001 86,81S 784,233 22,316 11,405 189,683 389.463 967,837 18 Cfedltor8'. amounts falllnq due wlthln one year 2022 2021 Not¢$ Bank108n8 Trade creditors Olhèr taxation and social ￿e￿rity Other creditor5 Accruals and deferr•d Incoma 21 35,952 292.715 89,824 40,883 338,029 35,952 62,094 83,7L 36.122 425,3 797,203 643,264 Included in other fftdttors are amoun18 totslllng £17,376 12021.. £15,859> in respect of outstanding pension contributions. 19 Doforred Income Deferred income is included in the financial ststernents as folk)ws'. 2022 2021 Defeffed income at 1 April Income requiring dèfemiènt Release of income during the year 49,772 94.559 149,7721 47,306 49,772 147.3061 94,559 49,772 Deferred income represent8 rnember5hip and lickel sales in¢ome le¢e￿ed for forthcoming events. 20 Cr•dltor8: omounts falllng dug aftor more than an• yèar 2022 2021 Notes Bank loans 21 187.119 217.898 -34- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 21 Borrowtngs 2022 2021 Bank loans 223,071 253.850 Payable within one year Pay8ble after one year 35,952 187,119 35,952 217,898 Amounts included above wh￿h fall due after five years.. Payable by instalrnenls 79,263 110,042 The bank loans are ￿paYable in equal instalments and are scheduled to be repaid wiihin 7 years of the balance sheet date. The loans ale subject to an interest rate of 1.75% to 2% over base rate. The National Westminster Bank plc holds a fixed and floah'ng charge d8tèd 4 June 1993 over all tIE company's assets. together wrth leg81 mortgages over the Trusts I￿ehOld propert￿$ known 88 Homeland3. Highlands Farm, Harrington Cottage, Maiiners 8nd Teamoms, 1, 2 & 3 WaThen Mèws and 14 Ellis OrN•. The National Westsnin5191 Bank plG. holds a ffixed charge dated 31 March 2014 over the chartty's fi8gh¢ld propety known as Old School House. The Secretary of State lor Heatth. holds a fixed charge dated 1 February 2010 over the charitys freehold propety known as Beavertodge. 22 Flnancial in8trum•nts 2022 2021 Carylng amourtt of financial ass•ts Instruments measured at lair value 1.432,113 1,282.455 35- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 23 Analysls ol net assets between funds Unrestrlct•d fund¥ Re•trlet•d funth Total Fund balance$ at 31 March 2022 are represenled by.. Tangible assets Invesbments Nel current assets Long temi liabilities 3,041.108 1.455,213 4.033,142 1187,1191 1,172,531 4,213,639 1.455,213 4,376,041 {187,1191 342,899 8,342.344 1,515,430 9,857.774 Pre¥Sou8 year Unrgstri¢ted fund$ R••trlct•d funds Total Fund balances at 31 March 2021 are represented by.. Tangible assets Investrnents Net ¢urrenl a$$et$ Long term liabilities 3.083.059 1,3(￿,555 3,834.624 1217,8981 1,217,875 4.300.934 1.3C6,555 4,150.633 1217.8981 315,809 8,OC6.540 1.533,684 9,540,224 .36- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 R•gtrlct•d funds Movement on r&stricted funds is as follows.. Movemont In fund# In¢om• Expèndlture Balanc• at 1 Aprtl 2021 Transfor$ 8alanc• at 31 March 2022 AbJing¢on Catering Craft room Farm Friends of COT Fundraising Horb"cutture Life ski113 Poumon Wood Rye Salaries WoodGhurch Other restricted funds Restricted funds- fixgd assets 61,092 5,844 3,259 41.063 25.644 16.209 10.990 41.186 25.737 15,753 23,061 24,305 21,666 1,217,875 18,884 19,7731 70,203 5,844 1,998 33,273 27,955 16.464 10.721 46,783 14,802 14.350 20.811 60,708 18,982 1,172,536 100 1,200 7,297 2.823 1,141 5.787 1.175 1,42B 12,000 38,200 2.144 {1,3611 {5.4901 {4,9861 12.5681 11,4101 11701 17,5511 12,8311 {14,2701 11,7971 14.8281 {53,3981 13,5001 14,5591 8,OS9 1,533,684 92,179 1110,4331 1.515,430 The transfèr in thè year rèpresènts fixed assets purchased during the y8ar from r*$lrl¢ted income trnnsferr8d lo a gengral ￿$tricted assets fund. Aldington Catering Craft room Farm Friends of COT Fun¢Jraising Horb"culture Life skills Poulton Wood For the benefit of ￿sidentS atAldin9ton and 8eav•r Lodge, Ashford For the provision of catering equiprnent To provide for craft equipment, materials and craft room maintenance For the provision of farm equipment and it3 up kèep To provide residents amenbties and residents holidays For gener81 fundr8ising Purposes For the provision of horticultural equipment and its upkeep To as8¢5t with the provision of trainin9 and occup81ion For Ihe deveknpment ¢)f woodlgnd ￿nservatIon inibatives at PouKon Wood For the benerr( of the residents al Ry? For the payment of specrfic salaries and associated staff costs For the benefrt of the residents at W¢)odchurch Miscellaneous small funds, use of which is restricted to SP8dfjc obpcts. Rye Salaries Woodchurch Other ￿$tride(l funds -37- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 MARCH 2022 24 R8stri¢t•d funds Icontlnuodl Restricted funds - flxed ass•ts The net book value of assets purchased wth restricted fijnds represents the historfc cost less depreciation to dat* of fixed assets purchased from restricted funds. Expenditure comprises depreciation l•ss tha cost of assets purchased. Prevlous y•8r M¢wement in funds Incom• Exp•ndltur• Balanc• at 1 Aprfl 2020 Transfers Balanc• at 31 March 2021 Aldinglon Catering Craft room Farni Friènds of COT Fundraising Horticulture Life skills Poullon Wood Rye Salarles Woodchurch Other restricted funds Restrided funds- ffixed assets 59,694 6,702 3,259 38.322 25,755 11,930 6,019 41,236 14,153 14,704 24,396 21,759 20.490 1,267,916 3,248 11,8501 18581 61.092 5.844 3,259 41.063 25,644 16.209 10.990 41.166 25,737 15,753 23,081 24,305 21.666 1,217,875 27.340 3,399 6.450 11.101 121.5991 13,5101 12.1711 12,9181 1701 11,4231 13881 112.0341 P,3271 13.1721 154,2531 I1,￿0) 13,2121 13,007 1,437 10,719 4,873 4,212 1.554,335 85,922 1106,5731 1,533,684 The transfw in the prior year represents fixed assets purchas8d during th& year from rastrthd irKome transferred to a general restricted asset5 fijnd. CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 25 Deslgnated and Unrestrleted funds The income funds of the charity Indude the following designated funds whmth have been set aside out of unrestricted funds by the truslees for specjfic purposes.. Movement In funds Ineom• Expendltur•l Balan¢¥ ot galrt on 31 March Investment 2022 BAlanc• at 1 April 2021 The Rarè Breeds Cèntre dèvèlopmènt fund Unrestricted reserves 164,444 7,842,096 166.6921 97.752 18,190,189) 8,244,592 6,592,885 8.006,540 6,592,885 18,256,881) 8,342,344 The Trustees have set ashle funds from the un￿Stricted general fund Into a designated (und called 'The Rar& Breeds Centre development fund In the current year, £66,692 12021". £150,556) was spent from The Rare Breeds Centre Development fund. It is anticipated that these funds will continue lo be used for further development of The Rare Breeds Centre over the corning year. Movement in fund Incom• Expenditur•l Balan¢• at galn on 31 Mareh Investment 2021 Pr•¥lous y•ar Balancg at 1 Aprll 2020 The Rare Breed5 Centre development fund Un￿Stricted reserves 315.000 6.413,351 1150,5561 164.444 15.637,5981 7,842,096 7.066.343 6.728,351 7,066,343 15,788,154) 8,006.540 26 Rolat•d party transactign Thè following Iransadions took plaGg between th9 chaiity and ils subsidiary COT Tiading Limited.. 2022 2021 Management charge Inte￿$t charged on loan Payments made on behalfof COT Trading Limited 1,813 1.744 876 18.474 There are no other trading activities betr4een the entities during the year. Al the year end £19,985 12021". £23,316) was owed from COT Trading Lirnited and is included in note 17. Included wlhin investments s £23.10012021'. £24,100) which is due from COT Trading Limited. -39- CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 Relatgd party transactlons IContlnu8d} COT Trading Limited lincorporated in England and Wales) is a wholty ¢)wnèd trading subsHYiary which grfts all its profrts to the Trust by way of Grft Aid. COT Trading Limited operatès thè shop at the Rare Breeds Centre and the Falcon Conference Centre and all other ￿gni￿cant commercial trading operations carried on by the Trust. For the year ended 31 March 2022 COT Tradin9 Limite(I had a turnover of £74.29612021'. £21,960) and ma(Je a net lo$$ of £3,44912021.' £23.804I and made a distribution of £nil 12021.. £nill. The nel liabilities of COT Trading Limited as at 31 March 2022 were £30.171 12021.. £26.7221. Thè company has an unsecured loan of £23,000 {2021= £24,0001, repayable wrthin 10 years. from the TtU8t to piovi(le il wth working ¢apltsl. Interest is charged on the loan at the rate o13.5%12021'. 3.5°/ol per annum. Events after the r•portlng date Following the year end. the charlty committed to buy hvo propertie8 with a lolal purchase prfce of £835.000. The purchase of these is expected lo complete by the end of October 2022. 28 Cash generated frorn operations 2022 2021 S¢Jrplus for the year 317,550 1,257,S38 Adju5tment5 for.. Investment income recognised in income & expenditure Inleiest payable Gain on disposal of tangible fixed assets Unrestricted 98in on Investment$ Depreciation of tangible fixed assets 19231 5,241 12,9031 5.521 1830,4491 1251.2081 211,584 1149.6581 217,950 Movements in working c8pi181.. Ilncreaselldecrease in stocks Decreasellincreasel in debtors Increase in credilors 17,8451 578,174 153,939 6,325 1123.9161 77,370 Cash g•nernted from operatlons 1,113.312 349,882 -40-