Canterbury Oast Trust Annual Report and Financial Statements for the year ended 31st March 2023 Charity Registration No. 291662 Company Registration No. 01897198 {England and Wales) 1111111111 *ACEHDLfjY¢ 1Wior2023 COMPANIES HOUSE A31
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Canterbury Oast Trust Contents Trustses. Senbor PJlanag•rs and Advisèrs durin9 the y•ar_.....-.. CEO and Chairman's StateménL.....................................................-..................... Trust•8s Report 2022 12023...-....-.........-- . Purposè of th• Charity....-...-....-...--...---....--..... Sumrn¥ry ofthe main al¥lts...-....-.-. G•ographi¢al Reach........-....-....-.........-...-.....-.-. Publt¢ BenefiL.....-.......-... Main Activities.............-.........-...-..........-...-..-....-- COT Supported Livin9.... . . COT Rèsldentlal Accommodatlon.-........-........--... COT Life Skills.... COT Rare Breeds ¢entr•..-....-...........-.........-...-............-.........-.................... COT Fundrai$ing................ COT People.........................-....-..-.-..-..-.........-....-.. COT Volun¢eerfn9..-......... COT Estates.......... Looking FonKard................. Structure, Gov¥rnance and Management..... Structure.................-........................ ...--...-....-.. Trustee Election. Induction & Trnlnlng-.....-...-.-.....-.-...........-...-......-............... Charity ManJgemtnt.......... Gov•mance.............-................-.............-......-... Risk Management...-..........-....-.......-......-...--...-.- Communlcations... Flnanclal Rèvièw................-........-........-.....-........-.-.-.-.........-..--........ ..-...... IncoTh* and Expenditure...................-...--..-....-....-......--.-...-.--...-........- Cash flow...... 10 Balance sheet................-...--..-..-.....-.-.......--.. 10 Going ¢oncern... Reserves Poli¢y..-..............-.-... Inve$trnent Poliey.....-..... ststern¢nt ol TrStee¥. Respon¥lbllltSes..--...--......--..--....-.-...-.-.-..-.-....-..-.-.........-..-..........-.................. 11 Provlslon ot lTrfonnation io the auditor.-..... 11 10 10 11 Auditor_ 11 Approval..-.... .. Independent •udltorts report....... ststement ol financial •ctivi¢i•s....................--.-.......... 11 12 15 ealance Sheet.... staternènt of cash fl0.......................... 17 Notes lo the ffinanelal statem?nts....................--...........-...-._...-.........--..-.. -18
Canterbury Oast Trust Truste•s, Senior Managers and AdvlseT¥ durfng the y•ar Trustees Russell Wdmers Kenneth Hesketh Trevor Pearce Sophy Hazevoet Jan8Abbott Chvarman Charn Chair Retirtd 15th Odobw2022 Chairnan from 1 October 2022 Chair unknl 15th Oclcthf 2022 Chair from 15° Odober 2022 IAce Cha Lead Care arbj Quality Lead for Fwwnce and HR Lead l(x Rare Breeds Cwtre Chris Showell Poiw Péarson-tsCrtl Relffed 15° Odotjer 2022 Mkhaela Twèedley Ruairidh Roberts Kan Blad(iston Lèad for E51ales Crynpleted >yè¥ lenn 1 Odober 2022 Lead lor Fir)Ce MtheleAllchin Stuart Bieri Kevin Er9lS Esmee RusseD From 15" October 2022 From 15th Od(thr 2022 Re$KJned 6thJuly 2023 Frorn 15" Ortobèr 2022 Frorn 1S Ociober 2022 Company rngistered numbEr- 189718 Charlty registered numbtr- 291662 Registered Oire Hlghlands Farm, Wkndchurch. Kent, TN26 3RJ Secretary Karen BL4Li8¢on hlef execu¥• Sarah Ettrards Bèmie Maya From 12fr Seplember 2022 Inlerim unw 12° Septembef 2022 Senlor Mana9e lan Botin9broke Clalce We Michael HackwelkRead Dan John50n Katie Palch Lisa Boullon Tw>a Morris Oominic Evans Vid(y Wardropa FM)na Dodge Susan Lan9lor&Smith Joanne Sooth of Eslales from 1A Noverntjer 2023. FeVioUS role Hd of Estates Diredor of People and Culture from 2 Sepiember 2022 Director of Finan from 16" November 2022 Direclor ofOFerations frffii V January 2023 DirerAor 01Trarlolm8tiOTr Change frorn 25 January 2023 Head of Supporfer En9a9emenl from Sfft June 2023 Head ol Visjlor Eroagemenl until 14" March 2023 Interim Head of Finance from 20thApril 2022 untd 1V O(aobei 2023 Ading Head of Care from 16" May 2022 uniil 31# JanLAry 2023 Head ol ca unbl 5" JY 2022 Flnancrdl Contrdièr [114 3APrI 2022 H&id of Human Resour5 untl 6" 0ber2022 Audltor RSM UKAlIt LLP, Pc¥tkTrJ, 25 Streel. Cr*y. $t Su55ex. RH10 18G Bankers Nalional Weslrninst•r 8ank pk. 20 Straet. Ashlord. Kert. TN24 8SH
Canterbury Oast Trust CEO and Chalrman's Ststement There is no dwbl that Ihe L381 year has ly0h1 cwenges ftAI(Ming Ihe knadequata Carè QualNy Commi5SIDn {CQCI rating ofour supported n9 serve5 arKI asso(iated contract Cornph"an vrith Kenl Counly CounLII IKCCI. Our focus had to be on Ihe steps wlu.ch had lo bè taken to raise C(fidenCe inside COT and wlh our feguLqtors ))mmissioners. Our new Chief Executive. Sarah EardS had to quKkty assembfe a new senwx rnanagernent team whrth brtyJght the skills and txperience essenbal to dgsign and deliver a developfflenl progrnrne lo r•st(¥e th confiden. %Mlh a highly skilled and expertenced tearn m plaw WÈ have been 8bl8 lo make improvements result#)9 in an imwoved raling in the lolkTh up CQC inspectn in March 2022. It's fair to say thal the focus of year has been gainry stabihty makffig imtmements acTOSS COT at)d the wldar strategic plan has been paused wilh the intenlionto lau 2024 with a newstrategic pLinwhich 15 filforpurpose. Atemporary pl was imNemented wth the folfvwMJ o¥erall Foundallons are In place to start buRthng lowards being Ihe hl9fvqualfty prnvider of adult soclal care sotvlces. We fvav8 Ih•pe(ple, sysl&ms, structuffps artYproce&ws idenlffied orinplace lo ourbusin8ss funcbons lorthè 0p18 we support and cuslomeo The w111e3 ol the ¢haiity aTr fully understood by thè board and SMT, Ihis has enablèd us lo focus on 8 d8arfuture fvrCOT. Individuals and11&S afg Won9 together, ensuringlhal ourbusinesstsaders have the infomiahon and autonomy Ihey need to eff8dtyety alenIlY resuthng in cofbegfftning to wilion oursgfves as a high-qualifywDwdfrofadul¢ s181 c8ffg S8lViCèS. The board ol Trusiees has also seen 5•Jnificant thange thrcrtffjh¢yJt the ytrar with a thlrd of Ihe board bwnnirKJ thelr Twslee role from Odober 2022. Some approxhes ty1veman have teen introdu over the year as a result ol ihis. This has included ceasrng separate mIllee5 aThl brryiThJ this inlornTralK)n to the board meèb.ngs 50 Ihat all issues requiring a deusion com8 directly to the frjll board. Tho board continue to have Twslees who tske on a 'ad, role in their specific are of skill or interesl to support COT. Folkming the liftiro of COVID-19 restriction5. we are also pleased lo see Ihe return of Twstee $11S to the services. A new wocess has been introduced lo ensure that these are person cenlred and that the outcome of the 511& feed into our qualty assurarKe framvmork. The bowd we well aware of thÈ finaNal p)SbbOn as reportèd at thè erwj of 2023 has ensured •ift MedIat act to improvè the posibon for 202312024. We have worked hard ovèr Ihe year lo inFove kne way in which we o)rnmunicaie. A dedicaled email account has been inlrodL¢eed where stakeholders can s8thY Ihwr feedback. the CEO and senior managemeni team have en providing rauulaf updates to $18keholders and listening nthes have been introd¥J¢ed io provide opportunities for both slaff, members and family members to rneet with Ihe CEO, senior rnanagèmenl team and trtees. These ha¥e been su(xessful and insightlul and have resuiièd in positivè ehangè. The bjard a also commthed lo Impro9 therr commvrmcationswilh stakeholders and havè introducd Bite Sr£• Board ur#Jates to wcwbje an o¥ervie* of Ihe go¥Emte activit and gentral updates sènt on behaw of the bgard.
Canterbury Oast Trust Trustees Report 2022 12023 The Trustees (who we also Directors ol the company fcy lh& pwposes of the Compani65 Ad) are pleas•d to pres•nt their onnual r¢pryt ¥nd Ihe audited finanaal statemen1$ of Cant6ri¥Jry Oasl TNst (COT) for ts year end 31" March 2023. The Trustees confirn Ihat Ihe annual rewt. wlmch in&JJes the strategic i¢port * finanryal #at¢mants of COT, CA)mpty with the cutrenl slalulory requirernents. Ihe requirements of cors goveming dOrnents, the CompaniesAcl 2006 andAceounting and Reportiro by Chaiities.. Staiernent of Re•MermId Pradiix appIable to charrties pceparing their acwjnts in accfjrdan¢¢Mlhthe Fln4nty¥l RepDrting Sl)dard apatIeIn tl UK Republ oflreland. (FRS 1021 leffectNe 1 January 2019}. Purpose of the Charlty Canterbury Oast Trust (COT) is a charity approad¥ng 40 yeays of e¥yve of develwng and delNering supw11o people Ih leaming disabithti•5. Summary ofthg rn•ln a¢tivi¢i The ser¥e$ we offer inchJde the fokning: Residential Care SeN¢e5 Long term support with accommodal>)n for a(lts with disatilitses pm¥ided in homes to meeting •id1vua physcal and emotK)nal needs. Supporfed Liing Seryices Supporf to indivhluals in their hrynes with Ihew (Avn tenwKies. Personal Care suppxi is wulaled by ihe COC. Life Sklls Support to adults leamin9 disNlilies in a rarMJe olthls de¥eiopment aNI iheraFeUtic odMtEs. The servi5 are SUPFLled by Ihe following tsams.. People Team (Human Resour¢g51 Finarfe Esiales and IT Supporter Engag8m8nt (MarkelK. CoMmltat)ns arml Frmdraisingl Geoyraphi¢al Reach COT is based in Kent and East Sussex. The majority of seFbiCeS are Kent based wtih residènloal service based in Easl Sussex. However, COT w(¥k with a rTheT of t£rnmissiormg authonkn.es who (und iTrJiwYuals tyjt of home borough. Publ1¢ eenefit The Trustees confimi Ilw gwen flue Consider to the Charity CcANniswon's gUklan and that COTS purpose is for public benefrt.
Canterbury Oast Trust Main A¢tiviti85 COT Supported Llvlng COT has capacity to support 37 people within our g supporfed living locations. We cyjrrenty have 5 aecommcAlation vacandè$ meaning we have been supporting 32 people Ihroughwl Ihe year. Al the 51art of thè year (xjncems r3ised 19 KCC led lo an tnspe(on being undertaken by the CQC of our Supported Lmng Tegislration. This led lo a rating of Inayequale, SvJnificanl WQfk has ten undertaken throu9houl the yèar to makè the wuired Impr0Men1S and further work will continue io ens¢Jie these thanges are fulty erntedded. A rnan398ment reslrwauiewas ccfflpleted to give a greater18¥el oloversight witlun each location and the $er¥re was reinspected by CQC. We are pleased thal Ihis seMc8 ha$ n(M progress8d to ei7ng a rating of Requires INrOvemenL Aknngsmle Making irnpr¢)vements, we have also been wuw•d to foojs on wotk•ig from a background of delwersng support hours cornmissioned rather Ihan over delwering these. Historieaty. IAhere appropriate. we have en9aged wfth Local Authorities to explore increayng SUPkX)rt hwrs as required. Dèswte the rthalkn9es of Ihe &5t year thwe have been some feal rM)sitives. One person ha$ been supporied to reali8e Iheir tlrèam of vdunteering witrmn an office enronment. People we Support have prcXJUd a lisl ol aciiwties Ihey want to try and have started workj'ng their way through that list. One Indual was suppM)rted lo tK)ok a hdiday wrth greater independence and one r$On even gave a preSelltatn lo the seniry rnanagnt te aboutlhaw hfe slory. Thay areTh)w being supported lo share Ihr story wider as an inwralional rnessa9e to reach lor yowdreams. COT Residential Accommodatlo COT has capacity lo support 53 people within eur 8 rtgistered ca SeThis. We curTenlty have 5 accorrtrnodation vacanries meanirg we have be supwrbng 48 peOe throu9hoLrt the year. As with our supp Living Semces, we have worked hard Ihrwghoul Ihis year on the issue of over delivery of support hours. Alon95ide this we have introduced 8n agency usage reduction plan. We also have a renvwed focus on ensuiing rnand8ry paperwoFk is up to dale and rrt lor purpose and wort( eLMtlnues on intrcJucing CAREIS. a di1 supwrt an1¥9 and tool. Aftef comiThJ thffjugh Ihe pandemic. we ha¥e reenga9ed wth lol$ of a¢a1Vit$. People we suppgrt celebraled thè Queen. Plalinum Jubilee partie5, and n¥Med her sad passing th afterrwn teas. The wwe ajso 3uppDrted hDlidays and days out including trtps on river boa1$ sleam raimfays ak)ng With regvlar attendar at concerts and shows. 8eing part of communilie¥ we INe in. is an important part of what we do and Somelhing we are planning to buikl on in the future. Along with being part ofour commuThty. being of our is ako rmwtant. One setmce had a I1 kitchen refrt thanks lo donatn$ from our suppr¥lers at Hitrade rW kn"tthen is far brbahler arKI has gNen the 5eMce some weat ideas on how lo create an even rnore aessIble work area ill the fvture. Anolher serwce has started a project to turn their summerhouse into a sensory space and akn Iransfornd part of Ihew 9arden into a vegeta¢ patch. This project will realty help people w• supptrl lo urtderslwJ aboul whwe Iheir knd rthnes from alcxb3 with learning about the importanr of Justsinabilty. COT Life Skllls As COVID-19 re3triction5 were lffted. we saw a $igniftsnl inuease in our ofvsrte Lrfe Skills offering thrOug1t the year. Our Lrfe Ski115 seNices con'nue lo te popularwilh sludents enjoying a range oftraining and therapeulic acbwlies. Art al the Fami were cornmis$ioned to déswJn bags forihe tvrCh Museum", sludent$ have worked on a project to re-vamp the cwrtyard area ouisKle the Falcon Centre Whe they can rw enjoy a rarye of outdcty* gamès, aCknviS, music and events. It has been a delwjhl to see the relum ol Polon knd's BILthI Cream Tea whh was a maiing S$5. and a grèat tlme was had by al who wefe in¥(d or MsAed the e¥enL Our calering students prepared a se1ed1 ol wonderfvl treats io be served at a sèries ol engagwent events where we gathered feedback from we sUpt. slaff and olhei stskekdders led t0 Ihe cleation ofour now Mission, Vision, Values aT¥J Behawows. A studen¢ Carr out INe carv¢n9 demonslrabons during the annual sh(YWS ihey attend. Hè did his fitsi live dèmonstralion al the Wealden Midsurnmer Fè¢r. This has realy heFped him iftwNE hts o)nfhJerKe and gave him a great sense ol prrde in his amazing skills.
Canterbury Oast Trust COT Raro BwetdJ Céntre The Rae Breeds Centre IRBQ wekomed in excess of t24.1 vtsitors thxh¢yjt the year aThY achieved Tripadvisor Traveliers. Choice recogniti.on in 2023. The Granary reslaurant recewed a full refU1$hment and reopened to the public for eal in diners. Furlher improvements wère m&Je lo the shop and tIMs Pened in 2023. The addi1 of a ptcrmc bam tn Sars playground ha$ pmvided addltnMal shelter for r wsiiors. Addthnal we5 at lh8 R8C have alb)wed us to have grealer c4Xtwlwce. This year has seen many I(dInS ofpDultry due toAwan Flu, the works on Ihe pouftry pens nThv rrean we can have Ihe l¥rd$ Ouiwrfht risk ofwild i¥rds Iht pens. COT Fundrnising Raising luThJs is a tal actiwty for c¥Jrchwiiy to defiverie level of excAlent Gqre and a5SiStancethal we believe thè individuals we serve. along with thew families and our slaff. shoukl receive. We ernOY a thvetsè frjndrdising Stratègy ub"lising a vaiiety of rgV8nue sources irKluding regular ¢ontribufors, onè-firne indmdual do1$, aThJ18gacy bequests, grant-making foundations, aThJ GiftAld ccrtibvtl¢S from tyjr Rare Breeds Centre wsitors. Wa continuè lo ansuit Ihai cors fundraisThwJ actmly 4$ ccthpliant with the recognised staThJards of fundraiyng as set out in the Code ol FundraisirvJ Pract. as wdl as Ihose required undertharity lww. COT partiopales in Ihe Fundraising Regvlator's voluntary re9ul31ory regime and does I1 ernpl¢)y the se8 of any third-party professN)nal fuftdraising organisations. No complaint5 have been leVed in feLatvJn to COT'S fundraisiThJ tiVitY. All fundraiswjg aetsvity is planne(I to ensure that il Is not unreasonabty intrusi¥e or persislenl and tIBtno lue preSSUTe is pLxedon any indniidual Mi relabon lo donation reqLtesls. This year, we o)nlinud Trjr Amazon Wlsh List which pr¢Mded a wldg range of item$ for our Lrfe Skills training pro9ramrne$ and a1MmOdatIOn senKts. Fundingwasalsodonated byhvo maftthon wnn•rs in the 2022 London Marathon who raised a combined total induding GrfiA¥J of £3.S48.75. COT P•ople We ha¥e teen pleased to See a retum to tfac+ train9 in COT 4) the financial year aThJ have a fvll training programrne eslabli8hed to rneel Ihe mandatory and $8rvice spe¢ik traintry need5. We have had great sU$S ty) staff members completiry ther Level 2 and 3ApwentK¥ship in Adult Cara. Wth Iwo achi8ving Merit 8nd 4 athiemng StInCnS. Significant work has been undertaken in fftl8n to Worklor planning to tiSh ihe rttfurtment requirements In each Jocalion. As ofAugusl 2023. our currenl vacary rnte in a(A)JYmodats'on Sere$ 1$ 21fA whKh is exFcted trj reduce lo 11% fc41owing compleliorn of ernoyment thed(s for new slarter5. COT VoJuntser6ng We have seen improvernents in the numbeTS of ¥dunieers Ihat retum•d after Covid rrasure5 We eased, bul we ar• Still far from pre-covid numbers. The 10t number of hours committed by trJr vdunleer team for this fiSGg1 year was 3844 hwrs. To encourage rn0 volunteerism we have S3ed LFP lo an Incen. lled SirniAy ConneeL is a free onlne reuuitrnent tool which matches volunteer roles to prosp•Xi¥e ¥dunteer wofiks. This yèar. there has been a return of c¢xporat* vnteer grcy)s helpirwj wth small woiects on the fami. We will be focusing on ngIng morè eorporale gvoups to Ihe Trusl ovar the ntxl 12 monlhs to help with cos1-savwS to the rrust on vital projects. W4hile Prov1n9 rewarding work to crale ¢mpk)yees in an Spig. team-buihling nronment. COT E$tatsS During Ihe yeaf 2022- 2023 works have pitked up lolltrrting what was a quieter tmne duriNJ the paThjernWhen access was limited. Below 1$ a selection of woths that have taken across the eniire eslate.
Canterbury Oast Trust The Estates team has b88n restrncturèd al the s&vt of2023 to alkAV gater lo6 on CtiVe and pknned rnaintenan, the changes have alkn¥ed for greater efficwcies. The final change in Ihe team has been lo empby an (mIse Health & safety rthlTrat. this role has been taken on by an existing member ofthe estste$ t¢arn who is uTrJergoing NEBOSH training. Currnnuy ty e being mentored by an external consuStant. Looking Forward Despite the thailenges gfthe year, it also an exLabng alcanterfw OastTntsl. We are fieTht Ihat we Can continue lo rebuTrk1 INst tyjr slak•lKJklers and repDsiIA)n COT to be the innovaiive arbd respected prowder ol social care Ihat we wgfe in Ihe pasl. Work is underway to sfrengthen the bjard and esure that we taIn a strong rewesenlation of farnily members of people supported by COT whilst also expanding the a$ of expertise that Trustees tng. This will be furtheréeveloped thioughoul the year. The purthase ol Old Port PlarA was compteted in January 2023. Trre is a strategic aTr to open this to new le(raIS 10 COT. The Senior Management Team have sh3nnt eXpe im Ihe deVeWe of new Serv9 and will appty this expertlse lo ensure that Ihis is set wilh effeth.ve modelling ¥hMch ¢s A) hne wtth besl practice and oyr ¢ommissioning have been workn.ng on our revi1n9 our Miswn. Vision and Values, this has been a collaboratwe apwoa¢h wrth engagemenl even15 to galher feedba( trom th8 peLyle we sUPWt and our worktsce. These were incredibty insightful and gave us a al understanding ofwhal was Imran1 to Peop for Ihe ftrture ofCOT. Following at7atysis of the feedback. an away day with Trustees and the Senior Management Team and Sam testirg of the dTafts. the Mis5th. Vision and Values have been finalised and will be launrtsd in 2023. Mission To empower individuality, athieve happiness and wovhje hith quahty wi everylhing we do. Vlslon People with leaffTrJ dIsali1¢e$ shap¢ an wK4usivè wthere anything Os p(lbIe. Valuès and Bha¥iours Be Courageous We embra(x challenges and overoim8 them. We ¥Jeak up IOT whar5 ffJhl. We show reSIn in dfirtt situatKns. Seek Opwrtunibgs We acb.vety pur$ue new experience5. We embrace change and adapl quickly. W• proaciryety ueate OPForiunities. Work T(e1 We a¢ti¥ety Collaborate wilh thrs. W• ¢omrnunicate openly and Iransparenlty. We foster a uJNure of tearTr¢yk arkJ rgspec4. As part of this in 2023. we are launthing a compekn"IhJn to tht peop we suppxsrt lo desiqn cr new logo and slrapline. This i5 a (antastlG Opportunity for peopk to help shape Ihe luturè brandiThJ of COT. This will also be undertaken wilh a k)ng aw741ed nevAy designèd websrte the reM of In Touch magazwie.
Canterbury Oa5t Trust
Stru¢Qur•. G0ManCe and InO¥mont
The Trust 1$ govemed by a Memorandum andArtides ofAsXUt)n and is a regi5¢wed ¢harity. number 291662.
The chaThtae purpose of Ihe Trust 1$ to swtivide for traviwwd, uislrnckn. ampl0ént fulurè ng. (upation.
accommcJation. sustanan. M•n1•ne8 care of wpl• ilh a l•affliThJ disabllly. whelher or noi they have any olher
Stru¢tsJre
Uttdtrthè tèmia of thèAtidés of A%sttAat)n, Ihè Trust manayd by a bo¥d of up elev Trusiees and a maxmum of 3
¢copted persons. Each Trustee may serve a maximum of trwee kn ol trwee years. The TrStee$ who seryed durin9 Ihe
Y are listed on pag• 2.
The board ol Truslees has reswnsifjty $118tegt
Canterbury Oast Trust Go¥•manc• The Board Tnet 7 limes in the fyJancio1 r. A strategic away day was deed until Juty 2023 to enabk the Trustees to coMtte induction5 ar gain grèatÈf undtfslandiThJ oflh• cknanty. Issues were disojssed in more deiail at the fdroww Cornmittees: Ce & Quality- rnet 3 tirnes Finance- mal 2 lirn85 Human ReSoUrs- met 2 times Nominati)ns- met once Board and Care & Qualty o)mbined- mel 2 limes Separate comNltees eeased from November2021 Rlsk Managèment COT maintain a Risk Regisler, takes in to accxKJnl the Iat¥ to the tharity and is reviewed at least antwalty. A full review •rKI update fA the risk rtgisler ts TreAty lth.ng p. The CQC report and associated contr1 sawKlionshighlighted the Y existential iiskto COT. The tKJardwere swtftto respond with immediate and gUlar meetings. ¥Jtons plarts and recwuilmenl of key personnel to make improvemenls and ensure the safety of Ihe people supwrted. RLs Twere provwjed to the sen mement Team to erwjre that issues o)uld be addressed. The8alon plan was larty re¥lewed both Intem• andwih key stakehokjers ioenswethal improvernents YM8 made and ernbe(Idèd in to praclr£. This iesulted in imKw0vI ratings al the rext CQC nspe(aion tyjl there is rrK)rt work to &). Th8 orgarni8ational act plan was lepL9 fv a rnore persofvcentred apFKoath line with o new qualrty assurance framework enabung IclS to be on the iTrJMduJ needs of eath bx4iJcYb whils1 nol losing $KJht of the organisallonal thanges required. The priwal risks to COTare: Qualty ofcare and supp)rt or risk to safety Wothlorce- diifruffjes in recruitment and ret)b"¢)n Failure to achieve finanL?al balan CompliarKe wrfh regulators Risks are managed through Tobjst proced¢Jes and strategies wh# are [nlE0ved tIwDU9h charity govllanc• struclure. Communicatlons As the COVID-19 eased, we have abk lo to a normal operating erN1rornt. listened to the feedbath concems about ccnmuni¢ation and inlrcKlurd systerns to ensure that feedbath is captured and acted upon. Furlherrnore. we have intthrfu¢ed 8¢dilK01 opFortunities open c4YnmunrAlton and enyjred Ihal regukgr updates hav8 been shared with the people we gJpport. our wortfcw¢e. members and wider stakeholders. Financial Review Income and E]rpendltur8 COT saw ¢XSIstent thffte for 2023 cornpa 10 2tr22 £6.609,735 P022.. £6.684.864}. TIM5 was a consist•nt th8m• across all acb'mties. Howesw. expendilwg. Sp1c¥11Y rdaled lo adith by £1,651.356r25.8%. £931% oflhi8 increase was in rèlation to staff costs. Intslionary wessures and cost ol IMn9 wnpads to ¢yJr staff. 2 $igntfKant increases along with 2 cost ol liwng paym8nts were approved to briro slaff wrfh market rate and SUPKA)rt thern in the ent enOMiC clifflale. In addition. there ha5 been inèffieientses eXrneed with support hwrs. and hi age[Tren1 wilh agency •nd the resulling cost Incurred. Significant woth continue5 lo be carwi8d out inlo 2(r2Yi4 year lo brlig this back tri line.
Canterbury Oast Trust A lurther 16% of the inc¥eas8 wa5 as a resu# of r•pan and maintenwth, nM1.ty of whth was catch up wtyk from tho Chlenge$ and works paused dvring the COMD pandem. Cost increases were experientsd across the board, of which )Ilation can be directty attisbuted in many plas. There has toen aC&The{1gefflen1 that a procurement policy needs ¢tghter control atKI 8 full review, somèthing vthich has téen UndeaY y)st year end. Cash flts COT had a deryease in cash re5eThes for 2023 to ts valuè of£2,369.210. 44% of this decrèase is from operatirrfJ actities, diredly rèlated to the expenditure irnpact w8wously dtailed. È1,314,482 was irw•sted tyito langible fixed assets with 2 siderabie investments", an £882.371 purthase of an addrt)n 0pety and £169.403 spent ¢Jn a eomplete rèfvrbishment of the granary restaurant. Balanee $ho•t N8t a55•t$ lell to £a272.447 (2022." £9,857.7741. largely due to deuease in f(mds fr1 operabng adiMbe5 as detailad prewousty. Tangible asset additions grew our asset base and 4so inp•aed Ihe rash as a fesuK othor baSanc• et rtems remained controlled and mnsislenl to prewiou5 years. Golng concern The Trustees have Csidered wheiher it is approprth to prepare the fwnaal slatements on tha basis Ihat the thartty is a going co))c&rn. The assessment has I[(Jed the finanual outlook followitu a year with an operating deficit and net decreasè in cash and CAsh equ1vants, as well as the continued PTogress beuyJ made folk)wiTrJ the CQC report and KCC findings. As sel oyt in the accounting poliryes. the assessment indudes conSiESefatlc of aniiapaled income Iwrth secure conlrads in place for chariiabte aclivitEs wilh the Lwal Krthorilyl expendituie wnffiitsnenis for a ped of months from the dale of appioval Df Ihese finanaal statements. Wè arè pleased that our suppcted IMThJ stre has n(w WC4Jressed io reeeNing a rallng of Requires Improvemenl. rk contintses lo improve this rating and the fina81 viability of our sè¢vices, ¥rith atllity to fill vacaThies now a significant opportun)ty to imwove performance. lrnwovements are bwng seen on c¢)sl Jeve15, with snlcan1 redu¢tions in agency costs and sawngs through tighter prLturement processes. The current proiectK)n for Ihe 2023r2024 fLv31 year is 8 defiot ol approxwnatety £9JOK, wrth robust 3 year lorecasls showing a 1 lo surplus. givirvJ ConfenCe to Ihe recovery an(J term viability ol Ihe Trvsl. The trust continues to ha sUffict rèseNes lo absofb Ihe current pefi>J of def1. The Iwstees a in agreement Ihat this 3 yèar FoJ$ition is achievable and will strengthen Ihe Trust's abilty tts d¢liver rt's cl1 oblve5. mussion and visic. R•s•Nes Pollcy At 31 Maich 2023 the chaiity had total reserves of £8272.447 12022.. £9.857.7741 which indudèd £5.3m 12022.. £4.2ml represented by langible fixed assets. £62.762 (2022: £97.7521 d¢sKJnated fur¥J5 £1,468.057 tricted funds {2022'. £1.515.4301. Free restNes tolxlled £1.422.69412022'. E4.030,9531. It is Ihe gÈneraJ polty of thè Twst to apply its income towards its thitablè objecliv•sas much as it rea3onably can atKI hen¢e lo avo accumulaling excessive reserves. ¥there considered appropriate- aryl L*n9 mirthl not to overwrNMt the Ch8rrty- borrowings are undertaken to lund elements of signifi¢ani caFMlal proje(ts. The of Ihe Trustees is to maintain al least Ihe miThrnurn ofcash reser¥es aKI working cawtsl sufficienl to meot known velopment plans. as w811 as the day-tts-day needs of lh8 Tntsl, whijst ielainiw a feserve to proviL1e for the long lerm support of those it 5UPPOrts and lo give 5eDJrrty to employee5. The Trustees also rwni8e Ihe risk lo irKowe posed by factOf5 Quisldè the organisation's wntrd. such as to1 authority L¥)mmK%sthiTrJ dectsiDns and lundiThJ," S91 Ca policy changes; adverse wealher al peak sItOr times". conwetiti.on Irom othw vtsii(f altraci orthe wibreak Ofcontagus disease. HaviroJ consdered these ffac. the Board of Trustees reviewèd its Reselves Pdity during the year and agreed to maintain 3 rThnimum of 4 months, and 3 tsrget of 6 months of operabng cosls. at all times. This Dmeframe reflects the nature of th• Trust's bus1ness as a socjal care provthr and the requwemenl to saleguard all 5eThi¢e Ler5 by helping thern strcure SLwtsbl• allernate aw)mmodation in the evertt thal Ihè Charity coased to operait. 10-
Canterbury Oast Trust lowe•kn•nt Pollcy The m•morandum ofAssc•iabth Tn to nMe arx4 uwg bwies rnt rnquwed lor use. Th• Trust has very 5jnIfICant inves1nt in wopwty Mi pla¢• to ld inv¢stty agmd proportion af the 6h dep0911$ to irnpre investment retumg. Tho Invtrffenl Pc4y was revwpd the yèar lJMw w•rè agreèd cash mad• a¥allab for long 18 and short tem investments. COT'S in¥estmentv•ith the cc¥$ approved * rrenty at an agre l&¥¢l. with addiliorlal 6 month Iroasurer knV•stftts for Y 8xeess over aThJ at¥)Nt ouf resw¥e$ pdiw. The ol an iNtial in¥8strnent with the CCLA of£75C,CIXI made in 2015 at<>Gd at£1.441.986 • at 31 Meh 2023. The In¥esthntobIedl for lh• remaYK1eroftr TNsfs re5wve8 rd to enwrettw arortathly avofj1gbltrtoma LM)antldpoteO .... . eash flc rèqU1rtn. Stat•m•nt of ThJst•o$ R••ponslbnitl•• The Tnjstees (who we a130 diwAm ofcanteuty Oast fr tht purpo$8 ofeony)y law) are $nsIble forwepwing '" th? TfUStee8' reput and the finan statern•)l M) a¢thdart•Tth aprdieab law and Unrted KingdomA¢¢wnkng Starwèrds (United Kingd¢)m GenerdtyN•d Aco)untry Pradice). falf vlewoflhe stste ofaffairs ofth• cbaritsue cornpany ofthe wKtsmwig resowees arwj appltiOn of resowces. induding Ihe IncoThand 0xn(li1re, oflhg frjrthatpwitsl. In ppar5n9 thffinanal statents. theTru9t8es arè requlred 8oleci Surf1• a¢cJ)untffry politxes and ¥ppty Ihem con91stll. obselve lh• melhod¥ prirLipks of the Charibes SORP.. makeludgement$ and ests"mates Ihat are reawtA• piudent aThJ prepare tha financial ¥tatements on ai onw"r#J c4wKem ba8is 88$ it i& inapprtyri• to K¥•sume that charitable company Mll contIrM In operaiion. Thè re¥Jtyisfjbl• for keepir¥J adequate aotirj rec¥xds Ihat iih reasonable ac¢yJraw. al ¥ny time.. ihe financial prtIon ofthe cornnY trn trj tre thatts tharKJal stnerts ¢ompty ith the Cm)aniesAct 2006 l¥s amendèdl. They arè 0180 re$pon8ffti forsafeguthrgthe ass¢lsofts (orl*"n9feasonthslepsforth? prevention and dotectson olfrnis and other irTe9(larits'es. ompany'5bsits. Legislationin the Lk)Ited KingJomgowringtsprep#ralon anddlss•mw4tsor+oftrfjnan¢ial stalementg rnay (lffer frorn legislatw w) otherjwisthcknj. Provlslon ot Infomi•Jon to lh• oudllor So (af as ¢ath ot th• TNstees is aware at th• ime this reprxt is ¥ppr(Y thwe is no r•knnt audht infm8tion of whith the Tru8Ys au¢thi is unaware and Ihg Tru5tegs ha¥•tak¢n all rnasonabh stepsthattw oughttohavè takèn to mak¢ themsefv•$ awaT• ofany MIeI aLvtht inf0MlI0ft and lo enswe ttst the authi(x is ofth Infemwon. Auditor In acld4fte• th• Chari$ M•rmraThaLvn ticI¢S ofAssoukn a r¥#dLthn X•inadinAudtt LTr"ted be apwnled as witoroflh? £liaty wll h proposed at Gonera] on 14th October 223. Approv1 This repjrt was approv•d by TN8tw on..2 9 oq v..2ty23 WKI ti*ir bot1 by.. K8nneth Heskelh. Chair
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CANTERBURY OAST TRUST Opinlon We have audited Ihe fnanoal statements ofcanlewbury Oa5t TKtsst Ilhe'cknaritab compan? for the year ended 31 March 2023 which cornpri5e the Sktemenl of FinarKial ALVit5. Ihe BalarKe Sheet, Ihe Statement ol Cash Flows and notes to Ihe financial statements, incJu(kng a Srnary of sgnitKant accouniing policie5. The finanLial repDrtirvJ framework that has been aPpld in Iheir weparalion is applicat4e law and United bQ"Trgdom Accounting Standards. irtdudirtu FRS 102 'The FinancTral Rewting Stsndwd applKable in Ihe UK and Republic of Ireland" Iunited lQngdom General Awled ACCO.9 Pract¥>. In ouf opinion Ihe finanoal 51alements". give a true and fair wew of the state of Ihe thariiaL4e cc¥mparfs affairs as al 31 March 2023 and of rf8 incoming restyJfCts and apiC4n of $j•S. induding its inu)me and expenditure. fvx the year then endèd: have been proFerfy wepared in ac£4Jfdance wilh Unbted lfjngthxn Genwally Acwted AccLJuntirvJ Prxtre.. and have been prepared in acwdancE with tt fequirements ol ts CornpaniesAd 2(Th. 8a$is for oplni)n We $ndUCted our audit in awd8[ with Inn81 siandards rm AudTtin9 (UK) IISAS (UK)) and aprAicable w. aur responsibile under those standds are further desrxibed in the Authrtorfs responstbilities for the audit of the financial slatements seclion of our report. We ate independenl of ts tharilable )MpanY in 8rdance wilh the ethical requirements that are releyant lo wr auth"l of the faTreal staternents in the UK. 1ndLIng Ihe FRC'S Ethical Standard. and we have fulfilled our other elhral fesportsibilities in ac£wdance with these requwemenls. We betheve Ihat the audit ewdence have oblned is suffoent aThJ apkwftate to a basts for ouropinion. Concluslon$ reloting to going concem In audthng thè finantial slatemÈnts, wt have ¢thded thal th• trustees. usè of Ihe going eonctrn basis of aCrUNtIng in the preparalitin of the finantsal statements is aPPTopriaie. Based on the work we have performed. we h8¥e rKI en11 any malerial [rtain$ relatiThJ to event$ or conditK)n$ that. indiwdually ¢x o)Ileclivety. May cast significanl dcrtl on charitable cijmpany's ability to conlinue as a goin9 ¢(4rA for a per of al leasl e1Ve K)nthS from when the slatements are authorssed lor issue. Our respon%litieS and Iho spOnSIbl1rts of the trttsle•s with resped io goiThJ o)nc•m are descnbed in the relevant seclions olthis report. othor Informatlon The other lnforrnalrt MpriseS Ihe infornalion indvded in the Trustees. ReFKJrt olher than the fnancial slalement$ and our auditor's report thereDn. The Injslees are responsible lor Ihe other lnforrnatn contained wlthirb the Trustees, Report. Our opinh on Ihe fman¢ial statements does not wer the other [ormatIon and. except the extent olhen¥ise explicitly slated in ow report. we do Tr)t express any form of assurance CnclUSion thereon. Our responsibility i% to read Ihe othef inlcffl)aiion aTra. in doiNJ so, eonsNler whethef the olher )formation Is materially inconsistenl with the finanaal slaternents or our kTredge oblained in the course of the audil or otherwise appears to be rnalwiaty rnisslaled. 11 we Mlenlify suth rnaterizl inconsistenryes or apparent rnalerial misstatemenls. we are required lo deternine thher Ihis gNes rise io a malerd rnisstalement In the financial statements themsdves. 11. based Ihe work we have perfomied. we LxJnrJuc ihat re 15 a matwial misslatemenl of other intsmabjn. are requwed to Teport th fact. We have nothrng lo repL¥t in thrs r8gard. Oplnlon on other matter5 prescribed by the Companies Act 2006 In our opinion, based on the wc¥k undertaken w) the course of Ihe audil". the information given in the TnJste85' Report and the incorporaled sIrateg Report for Ihe financial year for which Ihe finanual statements are prepared is consislenl vAth the financ#al slatemenis", and the Trustees. Repct and the irKorpoiattd Strategic Report have been weparÈ¢J in accordancé with applicable leg r¢quirem•tts. 12-
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CANTERBURY OAST TRUST (CONTINUED) Matters on whi¢h we ore required to report by exception In the light of Ihe kn(yge and ur¥Jer5tanding of the thaYit?ble rnPany and its enwtonmèni cthined in the course ol the audit, we have noi idenlthed material misstalements in the Strategic Report and the Trustees, Report. We have nolhlng to repart in rÈspert of Ihe matterSwrÈ Iht Compantes Act 20[6 rUlTe$ us to reporl to you rf. in our onIon.. advate acccdjnting records havtr not been kepL or relwns adequale for audit have not been rwived from branches not visited by us: or the financial statemenls a not in agreemenl th actounting rec>yds and retwns: eArtain disdosures ol trustees, remunerdlKJn sperAfied by law are not rnade,. or we hav• not ctIve all the infla160 and explarthS fequim for our audit. Responslbililie$ of Trustees As explained rnore fully in ts Ststement of Trustees. Responsibilities. on page 11, the lwslees (who are also the directors of the charitable company for the pvrposes of MpanY L) are reSpe the preparation of the financial statements and for bwrlq salisfd that Ihey gwe a true and lair wèw, and for such inlemal contrcl as th8 Trustees, delemiine is necessary lo enabb the preparation of finanrial staternents that are free from material misslatement. whether due lo fratyj err. In Fxeparin9 the finala1 slalernents. th• Tnt5tee5 are responsiwe for asse551ng the ehaiiiable iyJmp8ny's ability to ¢onlinue as a g(Mng cOnr. d¢sdosin9. as applutrle. Matters ted to g(An9 o)n¢ern and usin9 Ihe ooing concern basis ol accounting unless the Trustees either intend to Iqutdate Ihe charitatAe )MpanY or to cease operabons. or have no realistic altemalp4e but to do so. The extent to which the audit was considered capable of detecting irregularities. including fraud Irregularities artr instaness of non-comlanCe with 14s and rtgulaiw)ns. The obiectwes of our audil a lo obtain sufficient appropriate audil wdence regarding compli8nce with laws and reguLqtion5 thal have a direct effect on the ¢eterminalion of rnaterial arrwnts arKJ disd05ures in financial stalement5. w perftsirn avdit pledureS to help Klentify instsnces of non-complian wilh other laws and regulatn$ that may have a material effed on the financial slatemenls, an<1 to respc¥MJ appropnatefy to ¥jents"fd or suspecled rI)rlianCe with laws and regulat)nS lentrfd d¢Jiing Ihe avdit. ITr relab.on to fiaut1, obJ"edNes of our aLKlil a to Jentify and assess the risk d material misstatement ol the fnanCIal statement5 due lo Iraud, kn obtain Suff"ent appropriate audrt edence regardin9 the assessed risks ol matwial misstaterrnt due io fraud through destqniThJ and wnplèmenting apwopriate responses and lo respond appropriate to fraud or suspected Irdud Klentffied during the audit. Howev8r. is the wimary responsiblity of management. 7th the oversbjht of those th¥ged governance, to ensure that the enlily's operalws are colu¢ed in aoxYdanr ¥¥ith the provisicffi5 of laws and regulations and lor Ihe prevention and detection offravd. In identifying and 35se85tTr3 ri5k¥ ol materrdl mis5talement in resp8d of Irregul¥it$, ilUd fraud, the audit efigagernent team.. obtaid an underslanding of the Thare of the 5edor, Iuding Ihe legal and 1•gutOry frarnewk Ihal the charitalAe company ¢)perates in and how Ihe chartat4e ¢panY is cOMpng wth the legAI and re9ulalory framework.. • inquired of manage1. and those tharged wAh govemance. abiyjl thÈir ttwn identification and as$e$srnent of Ihe risks of 1rreguLqris. ind[Ing ary krvn acaual. suspected OT ?Ileged inslances of di8cussed maltefs 8t¥)ut nolKompthare wlh laws and regutstions and h¢)w fraud mwht occur Inchj1n9 assessrnent of how and wh8re the finanrial ststernents may be suwplJle to fraud. As a SuIt ol these prOU5 wè o)nsJer the most gnIfiCl laws and rewL9ths thal have a (Irecl impaci on the finanaal stalements are FRS 102, Charilies SORP (FRS 1021. Companies Act 201. Charilies A¢t 2011 and the charitable company's goveming docufflent. We perfotrned audit procedure5 tD detect noTrcompliarK%S which may have a malerial ifflpacl on Ihe finarTcial stalements Wh indu1 rewewing thè finawkgl slaternents including Ihe Trustees, Report and iemain¥¥J alert lo rw or $al Iransactk)Ths rnay nol be in accvdance wilh the governing documents. 13-
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CANTERBURY OAST TRUST {CONTINUEDI The rn1 $19niknnl laws and ¥egulaticrfM thal inpart on thg knncyal statements ao those in relation lo Ihe Care kl 2014. Care Quabty Commission re9Uta1jns and Gereral Data Protedion Reguk8tipn. We perfomied audit procedures to inwire of management vknlhw the gro is in C(1#n wilh these law and regulation¥ and in$ed wre¥#Jidenc•tith r8gulaW attlt$. The audit ¢rgeM•Tht le wjenliftsj Ihtr ii5k of managernent 0¥Je of c1)rrtr as the ar•a where th& fmancial statements were most susceptible lo matwpl misstaternent due to fraud. Au¢Jii proeth>res perfmed included Were not Iwmited to iesting mar)ual icwmal entss arKI olher adjustnRnls. evaluating the busness ratiorole In relatlon lo signifiunl. unuwal transadions and transacliofts ent•1 irto outstde the norn1 eourse of1e$s. A further desuiplth ol our responwhtles ky Ihe JJit ol the fRMnL?al statents L8 Jocated on the Financial Reporlino CounrAf$ wthle at . This desuybon lom p8rt of au¢JitOW'S [K)rt. Use of our report This report Is rnatte solely to Ihè chafitth c<Mnpanls nmbers. as a t. in accordanc with ChaMeT 3 of Part 16 01 the Companies Ad 2. Our audrt woth has bèen (mdertaken so thal we migt State to the charlable companls members those matiws we are rerpjired io stale to Ihem in an auditors, reporl and for olher purpose. To Ihe fullest exlenl Fermrfted by law, we do nol p1 or assurne reSpOlts11ty to anyone other than the ¢h3ri1able npany and its mernbers as a body. for Qur audd work. this repv( w for nIOnS we have Irned. Lsn LLL W LLP Zoe LongslafkTyrrell (Senioi Sta1LknryAJrtorI Fow and on beh*fof RSM UKAudit LLP. StatutoryAuthlor Chartered Accountsnls 3rd Flo Portland 25 High Streel Crawley Wesl Sussex, RHI0 1BG 13110123 14-
CANTERBURY OAST TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 i1nre5trl¢t R¢stricted funds Totsl 2023 Total 2022 me and Èndow t)onal¥Dns and legaries Cbaritable aetmties Inveslments Olhor incomg 319.483 6.181.IW9 2.849 31.639 65.321 384.804 476.808 6,181,IX19 6,146.130 Y23 61,Ct73 1,451 39.622 Total income and endowrnents 6.534.980 74.755 6.eJ)9.73S 6.684,864 Iture Raising fvnds Charitabl• ath.wbes Othr 70,306 7.1.636 8.763 71,9)8 eo,¥23 120.528 8.102.164 6.450.8CQ 8,763 5,241 Total expeiiditu 8.CfA),707 122,128 6.182.835 6,516,gr2 Net105(ga(nl on irNp$trnenls 15 (12.227) {122271 149.65B Net lexpendiknrellincome for the yea Net movement in fvnd5 (1.537.9YI <47.373) {1,585,32n 317.550 Fund bakinces at 1 1 8.342.344 1.515.430 9,857,774 9,540.224 Fund balances at 31 Inar¢h 6.804.39) 1.468,057 8.272.447 9.857.774 -15-
CANTERBURY OAST TRUST BALANCE SHEFr AS AT 31 MARCH 2023 2023 2022 Flx•d assèts Tangible assels Investments 14 15 5.270,578 1,441.986 4,213.639 1.455,213 6.712.564 5.668.852 Current assets Slock5 Debtors Cash at bank and in hand 16 17 63,779 389,463 4,720.2 377.268 2,350.7W2 2.796.865 5.173,244 Credltors.. arnounts fallong du• within one yar 18 (1.080.071) (797203) N81 eurrenl asset5 1.716.794 4.376.041 Total assets less cuThent liabllities 8.429.358 10.044,893 Creditors.. amounts lalllng due afteF~ more than one year {156,9111 (187.1191 Net assets 8.272.447 9,857.774 Income funds Restricted fvnds nrè nds Dèsignal&d funds General unrestricted funds 24 1.468.057 1.515.430 62,7K2 6.741.628 97,752 8.244.592 6.804.390 8.342,344 .272.447 9,857,774 Iq...O.q.. .2Q23 The financial $18tements We arwv8d by Tmslees .. Kenneth Hesketh Trutèe Company Reolstration No. 0189f196 16-
CANTERBURY OAST TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notes Cash flows from 0rating activities Cash labsortsed byllgeneraled from operations Intefest payable (1.044,6751 18.763) 1.113,312 (5,2411 10 Net cash (used inygenernted frimn 0ratIng activhtie5 {1.053.438) 1,108,071 Investing activilie$ Purchase oltangiblè red assets Proceads on disposal of tarofole frAed assets Receipts from repaymenl of klans froffl trading SLrt)sidiary Inlerest Tecei¥8d {1.314.482) {133,7711 23.618 4.232 1.000 923 Nèt cash used in investing a¢tM15ès 11285.564) (127.6161 Financlng actlvities Repayrnent ol bank loan$ (30,208) 130.7791 Nrt cash used In finan¢lng a¢llville$ {30.2081 130.7791 Net Ide¢rea$•)fln¢r9e in cash and cash tqulvalents (2.369.210) 949.676 Cash and cash eqvivalents at beginning of year 4.720.CO2 3,770.326 Cash and cash equival•nts *t end of ytsr 2,350,792 4.720.002 17-
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountin9 poli¢les ChaTIty infonnation Canterbury Oa51 Trust 15 4 company by gyarantee im))rated in EnglaThJ aThJ wa%. The registered I)ffi is Highlands Farm, INoodchuTth.AshfLYd. Kert TN26 3RJ. In the event of Ihe charity w(d up. Ihe liawty in iespecl ol Ihe gyaranlee is limileLI k) £1 per votirg Member ol the Trust. The Twsfs oWive5 and are dEdosed in the Tryees. KI Stralegr Rewrt. 1.1 Accounting eonvtnilon Th•se finan1 statements h#¥e been ppared xcordarKe wrfh FRS 102 Yhe Finontsal Réporung Standard a1ble in the UK and Repubhc of Ireland". the requ1MentS of the Companies Act 2006 and under the histl¢al o)st conventh)n, modffjed f¢x rtain fixed asset investrnents. The finanual statements have also been prepared in accorrjanee with the accountiThJ poliaes set out in more 4Yetail below, to comFIy with Ihe charit15 goveming document. the Chanlte5 Aci 2011 aFKI ArJatIng and Reporting by Charittes.. Slatement of Recommende¢ Pract aOicable io tharthes preparing Iheir accounts in accordance with Th8 ReFM)rting Slandard applicat4e in tho UK and Republic of Irek2nd pubshed n Ocaober 2019 (the FRS 102 Chariles SORP 20191. The Trust ¢(Ntslrtut8s a public benefii •nbty as d•f4)8d by FRS102. The financtal stslements are prepa Sleding. ¥thith Ihe fun(onal rJJrrerKy of Ihe tharily. Monetary arnounts in thwJe finarKaal statemenls are rounded to the newesl £.1: ' 12 Going ¢onc•m The Trustees have consKlered whelher it is aprnpriate to V8pare the finanoal 5taternents on the basis Ihat the charily is a going ccKKern. The Trustees have rewewed Ihe fore(xsts for the thari(y, and in parttwlar considered its antiupated in&)me Iwrth seujre contracas in pla for charitsble activities with Ihe Loc Authorilyl and expenditure clxnmitrnents for a period of ve months from the date of approval ol these finantial slatemenls. Wth regard to the charity. the Tnjstees have vieWed ihe financial proiectsons, budgets antl eash pOsitn lor thè pericJ and are satisfied that the dmnty has adequate finartes (IndjIng forecast eash and investments throUght the pen0} and reserves lo maintain ils 4lN"lY to operate succe5slulty wrfhout athjitional funding. Given this. Tnjslees have a feasonatAe expedation Ihal th8 charity h85 adequate resources tocontinue in operational exisierKe for Ihe fweseeable futu. being not less than 12 months from the dale of signiw these financial statements. Thtss. they conts.nue to &Jopi the gthn9 OXKrn basis ol acctsunting in weparing the annual financial statements. 1J Charltable funds untricted fvnds a available for Ltse al Ihe disc4elion of the Twslees in fvrIhera of their charitable objectives unless the funds have been designaled for Olher purposes. De5n#ted funds c#)mpiise unrèstn.Ct fuftds that have been set ade by the Trusteès ftsr particular purposes. The airn and use ol eath degnated fvnd Ks set 04rt in the to the finar1#7 stalemenls. Restricted f}¢ts are sutiect to spth condrtfjrffis by t1onLYS as to h(tyw they may bè used. The wryJses and uses ofthe r¢slitted lu1$ a set out the note5 to finartial statements. Investment income, ga)s and losses e alknaled to Ihe apKwopriate ld. 18-
CANTERBURY OAST TRUST NOTES TO THE FINANCIALSTATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢wuntlng pollel•s (conllnul 1.4 In¢om• Inrne is TgnIsed when Ihe charity has entiuement io the luThJs, after any performa condlon$ have been met. thè amourts tan te mea>Jred fyliatrAy, and il is probable Ihat ints)mt wll be rfft. Lega$ are rwnised on yet or othejwise rfthe thaiity has been notffied ol an impen¢ng distribulhjn. the amount is known, and rcpt is expected. M anKMml is not known. Ihe legacy is treaied as a contingent as5el. In¢om& received in iestd ol annual to the Rare Br8eds Centre is recwis8d 0the peitod of e mernbership. InMme lax recov8rabl8 Mi to in¥Yslmts tyKom• is recognised at tptè limè the inv8sknenl Incomo Is receivable. Inte5{ is recLyJni5e¢J when it is probable that Ihe ettyr beneffts 1] fi(M to the eompany and the arnounl ol revenue ¢n be measured retrably. Intere irt4)me is acaued on a tim& basis. ty fefe¥en¢e to the pmcipal outstafidin9 and Ihe effective Interest la applrable. Expertditure All experklitur8 is acwjnled for on an axru basis aTrJ has been induded under expense ralegories Ihal aggregate al costs for allocaiion to actNils. (xjsts cannot be directly atlnbuled to parb"cular actlvlties they have been allocated on a basis o)n$lslent wilh Ihe ttse of resources. supp 01$ cornprise In ts mn $taff costs. Iheso are aEkKatgd teen a¢ti¥ilies and governan costs Icentsl adrninlstra"0nj Sed on aLlual or eslimaied fmn? employed by staff in these nctions. G0veMan c4)sts are those in Ymlh adminislration of the charity and cAJrnphance wth consbtuiional )d ststuiory reouirwnents. 1.6 Tangible fixed assets Al assets coslin9 rrThe than £2.C(L) e eawklised Tangible fixed assets are lnrtialty mtaswed at cost SLd)seqLEnty na8ured at Cost, net of depreryation and any irnpairment105S•5. DeplatIon is f•eClse so 8$ to lte off Ihe cosl of assets less thelr MIal (wertheir usèful lives on the folowing bases". Freetr¥)Id larhj and bldwig5 FLXtures and fitlings )tor vehths 2-15% Straig line 1&25% rnwJht fine 25% 5traNJhl li Ffeehold land is not deweuated. The gain or loss arNng on the (55rnsal of an asset is te¥IDed as the {thfferen between Ihe sale proceeds and the carrying value ol the asset. and is roc¥¥nl in nel ino)MellexpendituI ts the year. 19-
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountin9 policles (Continu} 1.7 Fed asset investments ed a$8et inyestrnerts are inibly rneasured at trathn wrce exduding transact Wstj. and are subsequenty meas¢Jretl ai falr value at each repoiw dale. Changes In falr value ar• recoJnised in n inctrnel{expendure} forlhe ye¥. Transtw>n ¢o&s are exp1 as in¢tMr•a. Interests in subsidiaries are iihlialty measurpA al (J)st wb5wnty ffleasud al cost less any cumuiatgxl impawment losses. Th• in4slmnts af8 a$5•d ts impaimwnt al eh reporting date and impairment losses or reversa15 01 impaiwrnent bsses art reccsnised immedkqlely in nel ncornel (expendilure). A $ubsithary is an entity controlled the tharity. Control i% the pmr to govem th financial and operating Fdiaes ofthe entity so as lo obtakn benefits fmm bts advmies. 1.8 Impalmnt of fixed assets At each porting end ¢Yate. the drdiity the ca(ry amounls of its laNJJle assets to deterrrne whether Ihere is any indicatj.on that those assets have suffed an Impaent Ios5. If any such indEalion exists. Ihe fecoverabie amounl of the a55el is estImaA in crfder to deiermine the exient of the impairment loss (if any}. 1.9 Stock¥ Stock5 8fMI Wofk w) progress are vald at thg kwer of ry)st and net reaSab value after making due allowa foi obsoletè and s1¢)W-nK)vin9 Stoeks. Cosl indudes al dired e•)Sts aThJ an appropriate proportion of red and Variab obfthead5. 1.10 Cash ortd cash equivalènts CAsh and cash equivalents Wde ¢ash k) Ar deposts W at (al with banks. 1.11 Fman¢ial Instrurnents Th¢ tharity has applied tho kyomsityts of Sedh)n 11 'Bx Firt8TriaJ IrstMe1. of FRS 1ff2 10 8ll of its financial instnjrnen nanclal InstrUts are feccoThs8d In the charitfs balants sheet the chathy tjwmes paty to the coniractual prwiwons of Ihe instrument. FinarKAal asset5 and liali1s are oifsel. 1h Ihe ne¢ amounts pse[Ed in the fmanrial 5talernenls, when there is a legalty entr¢eabk right lo off Ihe rewgrised anwnts and there ks an nlenlvJn to settle on a I basis Of to Teaiise the asset and setue the 3bthty smullan•W. Basic finanoal assets whlth wKkJdg Irade and other doblrys. WKI amwlts owed by group Lrtertakirvjs, ale lnilial measured at transaction price indvding transadion cosls and we subsequenlty carried at amortised cost. bein9 transaction prit• I•s5 amount$ sèttléd and 1#55 any inipaimient b5ses. Prepayments arè valued at the amount net of any trade discoLn15 ts. Cfet16tors are recognssed where tho Larity has a Prn1 oblwjation regjlting Irom a past event Ihat will probabty r¢sutt in Ihe transfer of lunds to & Ihird pty ond amount the to selue the obligation cAn be Measured or estimated reliably. Credkns are Th)mMly re ai I1ii settlement amounl after allohing for any trade discounts due.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Aeeountlng litieS IC0Thtin¥> 1.12 Taxation The Company Is a rng¥slered charity and as suth its and gains fallThJ within sons 371 to 489 of the Corpc¥ation Tax Ad 2010 or Secknn 256 of the Taxabon ol ChapJ88b GasA¢l 1992 arg ¢xempt fr corporation tsx to Iha exlant thai they are applled lo its chariiaL objedives. 1.13 Employe• benefits Tha costs of $hort.term anployee are rerJ)gniseil as o liabilty •KI an expèw. unlèss Ih05¢ $1$ arg requId to be re(x)gTr6ed as part ofthe o)st of st(A or fixed assets. The c051 of unused idaY entillewl rs in the pwllxl in whKti the errylryyee's wwces are received. Terffjinalion benefls are reo)gnis8d as eypense when the tharity is derTh)nstrabty cornmrtted to terrninate the empknymenl ofan ernth or to wo¥ide letson tRneffts. 1.14 Retireriiènt bènefits For dèfinètj Contri110n schemes the amounl tharged to nèt irtomè or •xp8nditur• is the eonlribution8 payable irh the year. Drfference5 befftn ltrIbu1$ PaYae in the year aThJ cntributIOnS actU81ty paid ar8 shown a$ •ilh8r accnjals OT pwayments. 1.16 Consolidallon The Trust is exempl fnjrn the rewnMentS to prepare grtyffj accounts by virtue ol sediDn 402 of ihE Compan$ Aci 2006. These fina31 $tatement5 therehye pre5enl information about the compaThy as an indimdual undertakng anL1 not about its group. Chafrts SORP alh)ws a subsidiary to be èxduded fro GonsolidalTh il it5 results are nol material to lh4 gRxJp. In the otNnK)n ol the Trustees th8 ¢urrxwer and nel assets of COT Trading Umited are noi maien.al in Ihe ClteXt of Ihe5e acwunt5 and IhereforB f4)n50LwJalod accounts have Trjl been ppared. details of this subsi¢thary a gfven Dole 15. 1.16 Government9rants Go¥e¢nment grants a wnised at the la"r valw of ass 1Ve or 1vatI• when Iherg is reasonable assuranc8 that thè grani corJitTh5 IH be met and the wants vill be reeeived. A 9ranl Ihat sperifies rforniarKe ndrtIonS is recognised in irKm when the perf0mlan conthtions are mel. Where a gfant ¢Joes not speufy perfomMnce condrtions il is reco9nised in income wthen Ihe prtteeds are reNEd or reeeivaÈ4e. A grant rerNed trfj Ihe feowitth rJrteria satisfied 15 re¢Jtynised a5 a liobilty. Critical accountkv estknates and ju¥lqwrrt8 In the appliCatn of the chzr5V5 afxounting p)fftx. ihe Trnstees are reqmd to fflake judgements. estimate5 and assurrwtions about tho canying amouni ol assets arnl loblities that are not readity apparent from otsr sources. The esiimates and associaled &8umpkns are ba1 on historical experien and other faclors Ihal are nsidered to be TdevanL AL#ual resulls rnay dtfferfrom these esb"mate5. The 85timates and undew 8s8wryth orn on . M9ciTrJ basi5. Re¥isKJns io ac¢ounilng estimates a retr)gnised Ml Ihè in whM* Ihe eslirnate is re¥iO where the revision affeds that peADd, or in Ihe period of revisi arnl period5 where the rewi&on affecis bolh (rent future petiods. Crfti¢al Judgements Con$¢lid•tion A5 detsiled In 1.15 Ihe Trustees rA)nshler the rewjls of the subsdiary to be immaterial 10 group and as $uth they have ncl prepared S011a1ed axounts. 21
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Cyltical accounting e5timat•s and judgomènts IContinu•d) K•y sources of è$lin1l0n une•tsinty AKocotion ofsupport ¢osts A5 delailed in 1.5. suppxt t05ts are albcat8d betsveen chanlable a1b"e$ and govemance costs (central administrationl based on act L¥ ests"mated tsme empbjyed by staff irt thesa funth"Dns. Donation¥ and leg•cie8 UDrestri¢ted Restricted lunds funds Totrl 2023 Totsl 2022 Donat$ an¢Y (see below) LegaCS recewable 244,483 75,OC#] 65.321 309.804 75,CV) 461.808 15,000 319,483 65.321 384.804 476,808 Forthe year ended 31 Makrh 2022 384.665 92.143 Donations and gifts Grants Individual gifts Charitable fouThJalions Corpwate donors 19.850 31.349 19,850 272,032 12.146 S,776 179,739 261,069 17.300 3.700 240,683 5.276 244,483 65.321 309.804 481,808 Charlt•ble 4ctl¥it$ Unrnstsict•d Total 2022 Carn and li So¢lal skllls enlerprise groups Totsl 2023 Iorne by eharit8tAe adi¥e5 4.9)9.645 1.271,364 6.181,009 6,146,130 al enterfv grovps cgjmprise Ihe Rare Breed5 Centrg fami. restsurant and markeknng sector5.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Inveslments Unrtstrtetsd R8strictod funds nds Totsl 2023 Total 2022 Interest T8vaN8 2.849 1.451 4,3JO 923 Forth• y•ar ended 31 March 2022 othor inetsme Unreslrl¢lgd RtrICI¢d lund fvnds Total 2023 Total 2022 Net gain oft disposal of tangiNe fixed ass•ts Govemment grants re¢ived 11,270 20,369 7.983 19.253 20.369 1.116 59.887 31.639 7.983 39.622 61.003 For tl yeor end 31 M•r¢h 2022 61.C•J3 Gcants rec8Ned Sn the current yèar rewesents arntyJnt$ r1¥j in rela1 to the Adult SoL?a ca Inlection Fund. The purpose of Ihis ld is to SUFpori adult soaal provK1ers lo redu Ihe rale of Cov119 transmisson. Grants rpceived in the year represent amoLmts recavèd in fesped ol conlributs towards slaff salary costs under Ihe ¥rOna[us relenlKm xherne. There are Unfviried cmditions or other o)nlingenaes attached to these grants. Ri$ing fund$ Unrnstrlct•d Restrleted fvnds fun¢ts Tolal 2023 Total 2022 Fundraising and publicity Advertising Computer eosts Staff costs 5,259 11.130 53.919 6.859 11,130 53.919 8.207 1.924 50.792 70.308 1.600 71,9)8 60,923 For the year ended 31 Matth 2022 58,355 2.8
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable aetivStls Care ¥nd life Social skills ent•rpri$• 9roups Total 2023 Total 2022 Staff cosls DeplaOn aThl impawment Purchases Utilty and telephorte costs Veh¢de Insurarhce Rep•rs and mantenarKe TraN)ing Bank charges Adrtising Miscellaneou5 Poslage and stabonery 4.139.417 131,029 144.081 219.603 66.822 92,347 423,839 11.369 730.198 4.5.61$ 98.812 229.841 341.404 485,485 38.616 25B.219 17.591 84,413 24.152 116,499 I8432 ,371 11,369 47,530 32,438 30,057 13.45D 4.053.473 205.599 408.520 171,596 61,966 113.874 3H,071 47.530 32.436 25.483 8.195 44.784 24.745 15.446 13.516 4.574 5.255 S.238.336 1.548.949 6,787.285 S.457.S90 Sharè of support costs15ee note 9) Share ofgo¥ernaKe eosts ($ 9) 1.¢M,266 146.659 1.239.925 8.864 74.954 931.180 62.058 6,397.W2 1.704.472 8.11Td.164 6.450.808 Care and lrfe So¢lal skill$ entèrprisg groups Total 2023 Total 2022 Analysls by lund Unrestricted funds Restncled funds 6297.523 11J),169 1.684.113 7.981.6 20.359 120.528 6.397.692 1.704,472 8.102,164 For the y•ar •ndgd 31 March 2022 unStrICted fvnds R6stii¢ted luwjs 5.107,760 1.2&5.183 81.696 26,169 6.342.943 107.8fj5 5.189,456 1.261,352 6,450.808 -24-
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs pptsrt Gernan costs 2023 2022 Staff costs Depreciation Othef Costs Profe8sK)nal Tdephone Postage and str Bank charges Trair#ng 831.377 23.337 235.19B 95,022 31.017 18.422 62.576 893.953 23.337 235,198 102.174 33.352 19,809 5.970 1,086 778.966 12.351 102.904 50.520 22.382 19.517 6.578 7.152 1.387 418 1,239.925 74.954 1.314.879 993,218 I supp(fft aThJ wJ¥emarKe msls aliriimjlable lo thanlatle prMIè5. Th& gobrnarte costs have been kaled in woptytion to thtyctctsts Intwred in resp8Ct ofeach aclmty. 10 Cmhtr enditut Unre8trlcted Total 2022 Totsl 2023 Bank Irrta5t paid 8.763 5,241 11 Net mov•ment In lunds 2023 2022 Net rnowwt in funds is slaled dter thw91(sediftg) Govèmmeni grants Audil ol tre finanfoal stalements ofllp COrnFW Fees payable to the compatys auditor fr)r non-atyjit seN Oeprec4alts)A of owned tangible fed assets Profit on thisposal (rf largitrAe ffix assets {20.389) 23.5(YJ 10.550 253.178 (19.2531 (59,8871 18.500 8,750 217.950 11.116) -25-
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Employees Number of employees The averag8 monihty nuTthemphyie8s ywwas.. 2023 14umber 2022 Numbèr Support 8nd res•Jenl er(e5 Administration Comrywual. fflarketing and appeats 136 16 137 15 f97 Ernployrnent costs 2023 2022 Wages and salarles Social securily etssts Other[on o)sts 4.527.26S 401,046 .077 3,972,611 317.093 80.990 5.018,388 4,370.894 Redundancy payments made or cthMnThtted 18.67S Thp number ol empknyee5 ThLOSè anwwl remealOn. exchlwb3 employeè pen5hin, was £60.Ixh) ar mc¥¢ 2013 Number 2022 Number £60,CQ1- £70,000 £70.(JJ1- £60.IX)o The Tnjsl o)ns#Jers Ihe Board of Tnjslees and the Chief Exe(%li¥p as their key mana9emenl personnel The total empl¢wments benefits indIng effployer pensi)n and naTraI insurance nIntjiK1ns of the key manag8ment petsonnel was É101.916 R022.. £90.43SI. The chafity cyerales a defined con1ntion p•nsion scheme for an qUaring employees in the Uniled KingdLwn. The assets ol the scheme ar hehj separatety frorn those ol the charity in an independant administefed fund. The ¢Oniributk5 payable by the tharty and th¥ged to th• statemert of income retained earnings the year amounted lo £90.077 (2022.. £80.990). 13 Tntste$ None of the Twstees Ir any per$ry fe wlh Ihem) recewl w rpJThJnerntion benefits from the chwity dwin9 the year {2022.' n. Chjrfng the year 1 12022.. 1) Trustee i$d r•irtJurserr*ni of exper8$ awrthntirvJ k) £61 12022: £46). which rèlatès lo adrnln fees 8nrJ tra%Ei ev[5 IRvel 8xpensesl.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Tangible Ilxed ass•ts FYeehok1 land Flxtures 8nd •nd bulldiry3 oloi To181 Cost At 1 April 2022 Additions Disposa15 5.684.230 882.371 849.030 328,597 11C,1S41 280.361 103,514 147.2771 6.813.621 1.314,482 1153,431) At 31 Marth 2023 6.%6.PAJ1 1.071,473 336.598 7.974,672 Dtprneiation and impairmont At 1 Awl 2022 Depreoalion i8rged in Ihe year Eliminateil 4) respect of dTrsF¢Jsals 1.739.889 118,461 633.336 92,370 701.789) 226.757 42.347 147,2rn 2.599,962 253,178 1149,0661 At 31 Marth 2023 1.858,350 623.917 221,827 2,704.094 Carrying amount At 31 Marth 2023 4.708,2S1 447,556 114,771 5.270,578 At 31 Marth 2022 3.914,341 215,694 53.604 4,213.639 Included in nd and IlIdS is free laTrJ at Djst of£1OO.(KQ1222.. £1,c) which is not dépreciatad. Land and buildings pre-dating 1993 are carried at the Iver of {1 and open market vakne based on a professional valuatwm obtained on 13 Juty 1993 by Edward Symons. Chartwed Surveyors. Subsequent additions arè valutd at cost. FreeF)Id ptoperty primarity consists ol propert*s from which Ihe charitable activities of the Trust a undertaken. sorre of Ihe5e properries are especially adapted for providing care serwces or are Unusual in nature (Rare Breeds Centrel and UE markel value ol Ihese properties Trjt readily available The insurance cost of rebuildirvJ all the properties is estimaled at £26.6m 12022.. £21.8rnl. In the opinion of the Trustees the mafket value of the freehokl property stated in these aUnts is in excess of book valug muth less than the InsUrar reld ¢xist.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 15 Fix¢d asset invtstm•nts Unlisted Other In¥esbTrents Investments Total Cost orvaluation Al 1 April 2022 Unr•alis•d thses 1,432.113 112.227) 23.1 1.455,213 112,2271 At 31 Man 2ry23 1,419.886 23.1c#) 1.442,986 knpairm•nt Al 1 April 2022 Repayments At 31 Marth 2023 Carrylng amount At 31 Marckn 2023 1.419.886 22.100 1.441.986 Al 31 Marth 2 1,432.113 23,1(Ml 1,4S5,213 2023 2022 Other investments comwy5e.' Investments in subsi(karies Loans to subsidtaries 11x1 22.fYX) 1CM) 23,(KQ 22.1(K) 23,IC The ¢haitiy holds 1¢)0 share5 of £1 eartl in its whcAly tr•med trading subsbjiary company COT Trading knrnitgd which rs wrated in Ihe Untted KIam. The registered office ol COT Trddry knmited is Highlands Farrn, Woodchurch, Ashford. Kent. TN26 3RJ. These $hare5 are the onty Shares alotted, called up and Ivlly paid. The acIN1t8 comprtse njnning the retal operalions of Ihe Rare Breed C?ntre. The resutts are not coTrsoltdaled per aVnI 1.15. 16 Stock¥ 2023 2022 Goods resae 68.805 63,779 -28_
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Deb¢ors 2023 2022 Amounts falling du• wtthin one y•ar: Trade debtts Amount$ due Irom felkTh grDty undertakNigs Other debtors PpaymentS and accwed income 215,683 24.329 70.922 66.334 189.662 18,985 94.001 86.815 377.268 389.463 18 CTrdilor¥.' amounts falllng dut vAth5n one year 2023 2022 Notes Bank loans Trade (Irt08 Other laxalion and Sock secunty Other cr¢ditors Accruals and defer in(¥)me 21 35.952 457.272 112.927 45,927 427.993 35,952 292,715 89.624 40,883 338.029 1.080,071 797.203 Ineknfèd in other Crill¥s are amcthts £19.848 121Y22". £17.376} in SpeCI of outstanding pension ContriltIOnS. 19 Deferrf income Deferred irK(ne is thduded the finanoa stalemenis as Wows.. 2023 2022 Deleriod dr at I wi Income received Tequiring defermenl Rèkasè ol Income dumg th• yèar 94,559 93.863 186.3701 49.772 94.559 {49,7721 102,052 94,559 D(re(l incorne Wrttsts membatship and tickel sal8s inLx)me receNd for forthcoming e¥enls. 20 Creditors: amounts fallrng due aftermorn than one year 2023 2022 B•)k loans 21 158,911 187,119
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 21 Borrovhngs 2023 2022 Bank loans 192,863 223,071 Payable one year Payable after one year 35.952 15e,911 35.952 167,119 ArnoLbrts I[uded 8to¥e lch fall due after fr yews.. Payable by th$ments 30.143 79.263 Th¢ bank ban$ arè subprA to an int¢resl rale of 1.75% lo 2% ¢)v•r base ratè. Folowng th8 year end, thè bank k)an5 w•r• rewd in Jll. The N8IK)nal 51Mrter 8ank pk. IS a fwl Ibating tharge dated 4 Junè 1993 ovar all I ompanls assets. togelher with legal mortgages over the Trusts freehold properties known as Horneiands. Highlands Fami, Harrington Cotlage. Mariners and T•aio(¥ns. 1. 2 & 3 rren Mews arnj 14 Ellis Drive. Thè National Westminstei Bank p. holds 8 fixèd drge dat•d 31 Matth 2014 over the chIly'S fr8ehokl prcgerty krin as Sthc4)I House. The Seclelay of Slale for Heamh hoth a red charge dated 1 Febnjary 2010 over the olarity's ffeehold proF*rty wn a$ Beaverfodge. 22 Financial Instruments 2023 2022 Carrylng amount of financlal asstts Instruments measured at fair value 1.419.886 1.432.113
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 23 Anaty$i# of pet assets belween fund5 Umstrid•d funds Rèstricted funds Total Fund balan$ at 31 2023 rgw•wt8d trf. Tangit4e assèts Inveslments Net tsjrrent asset$ Long teim liabilrt 4.1C6.953 1.441.986 1.422.694 1156.911) 1.163.625 5,270,578 1.441.9B6 294,1CJ 1,716,794 1156.9111 6.814.722 1.457.725 8,272.447 Prevlous year Unre¥tricW funds Restricted lunds Total Fuml balances at 31 Marth 2022 represwle¢J ty. Tangible assets Inveslrnents Nel current assets Long term liabiliis 3.041.1C* 1.4&5,213 4.033,142 1187,119) 1.172,531 4.213.639 1.455,213 342,899 4,376.041 1187.119) 8.341344 1,515.430 9.857.774 31
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 24 Restrict fwid$ Movement C restricted IL)ds 15 asfOlth. Movernent In fund# lrneomo Ewndilur B•laTW at I April 2022 Trnnsl•ts 8alan¢• at 31 Mareh 2023 Aldngton Calering Craft room Farn Frien(Is of COT Fundraising Hortlculture My Life skillsAdemY le sknlls Poutton Wood Rye Safaries 27, 3.407 14.147 (1.649} {12.529) (10.CIJ t9.3Q8 7.462 1.693 17,811 26,730 17.915 12,751 47.185 46.941 24.630 14.584 20.773 20.801 18.006 1.171,487 33273 27,955 16.464 10.721 42,6S3 8,659 4,959 3.051 3.115 6.340 2,730 12.386 1,663 1.379 16.184) P5.5CK)) {1.C651 (1.808} 12.5731 14.8(Y2 14.3 20.811 ,71 18.981 1.172. {1.4491 18.8841 {31,A)I 14.4251 {55.4251 2.(3 3,49) {10.320) ¢JhÈi iesliided hJnd$ RestriGted funds- red assets $4.376 1.515.430 74.756 1122.129) 1.468.057 The trw$f¢r in the year repwnts fixed assets purthased the yew Irom restricted wKome Iransfwred to a geneTrl 1r1¢led assets fvnd. Aldin9ton Cateiiro Craft loom Fwm Ffnds ofCOT Fundraising y Lrfe Sknlls Aemy Horticulture fe sklls P(wJlton Wcoj Fcrf the tefit cl re&dents atAlding and Beaver We. Ashford Far the pyowsion of r2terirwJ equ¥kne To provide for eraft equipty¢. materia5 and t¥aft rethn mamtenan¢e For the WWSIOD offarrn equipment and up keep To proNide residents ameniti2s and s¥jen1S holidays general fundrasw purpc6e5 F¢¥ ltr prOn ol sen50ry equwent. rnalerials and mainienance FLV the of hortiUJllur eqvwnt arml ils up keèp To assist with the prowisM)n of Iraining and occupation FLY the de¥8k)pml ofw)IMlknd TrnEti"at 41 Poulton Rye Salaries Woodchvrch Olher resI#ed funds Fc¥ the benefit ol the wdents at ltye For the payrnèni of 6p8cffi¢ salaiies and a5wated slaff costs For the be11 ofthè wdenls * ¥VoodthurL* miscelle0y% yn41 fvnds. w ofwhkh i5 resbict•d to speak objeds.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Restrfcted funds (Continued) Restrleted funds. flx•d assets The nel book Val of asseis purchased wlh reslrK#ed fvnd5 rewesents Ihe histo cosi less &prwion lo dale of fixed assets purdSed frorn reslritsj ftJrKls. Expenthlwe (mpriseS depreciabon kss the cost ol assets purthased. Pmious year Movernent in funds Con Expendlture Balanc• at 1 April 2021 Trnnslews Balance at 31 Mavch 2022 Aldmgtc Catering Craft room Fa Fiiends ofCOT Fundraising Hortlculiure My Life SkillsA¢ademy Lrfe skills Poullon Wood 61.(P32 18.684 (9.7n) 70203 5.844 1.938 33.273 27,955 16,464 10.721 46,783 14.802 14,350 20.811 60.708 18,982 1.172,538 3259 41.( loj 1.2 7297 2.823 1.141 5.787 1.175 1.428 12.oc#J 382CIJ 2.144 (1.3611 (5.490) (4,9861 (2.568) (1.4101 11701 (7.5511 (2.8311 1142701 (1,79n (4.8281 153,398) 13.5CQ) 10.g¥J 41,166 25.737 15.753 23.C81 24.305 21. 1.217.875 14.$59) Salaries Woodchurih Othei reslricted lunds 8.059 1.533.684 ¥2.179 {110.433) 1.515.430 Th• transfer in the prK>r year répresents fjxed assets purthas•d dur1) th year from restnth irthme transferred lo a general tricted assets fund.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 25 019nated and Unff951rri¢ted funds The In)me funds of the rtb8rity iude the foIry9 desdnated funds whK have been set 85ide out of UnStrted funds by ihe Trustees for speufic wrposes". Mov•m•nt In funds Incomg Ewndllyrel Balan¢e •t movernent 31 March on imiesknent 2023 8alaD¢e at I April 2022 The Rare Breeds Centre devÈlL¥JIr¢ ftJwKI Unrestricted reservts 97.752 8,244.592 I34.9) 62,762 18.037,9441 6,741,628 6.534.980 8.342,314 6.534,980 18.072.934) 8,804,390 The Trustees have set #side lunds frorn the unreStrted ger1 frjnd into 3 desrgn8ted fund called 'Thè Rare Bleeds Centre development fund-. In the current year. £34.990 {2022." £66,692) was spent frorn The Rare Bre8d5 Centr8 DEv8k)prwnt fund. 11 is anlicipated that these fwkd$ will wnts.nue to be used for lurth9r development ofThe Rare Breèds Centre over the rxjming year. Movam•nt In Iub Income Expendrturel Balance •t m0Ment 31 March on investment 2022 Prevlous year Balance at 1 April 2021 The Rare Breed5 Cèntre de4eb¥ment ftjnd Unrèstrictè¢t reseThas 164.444 7.842,¢JgS 166.8921 97,752 16,190.1891 8.244,592 6.592.685 8.6.540 6.592.685 16.258,881) 8,342.344 26 Related party transactions The fc41owM)g trar*ad¢ons took place beh¥een Ihe thaTrty fts Ssid6ary COT Traling Limited.. 2023 2022 Managemenl charge Interesl charged on loan 1.813 805 There a no oth8r trading athrilies betsn the entities during yeaf. At Ihe year end £24.329 12022.. £18.9851 was ed from COT Tradwi9 Limrted and 1$ irduded in note 17. Induded wilhin w)veslmentS 15 £22.100 (2022.. £23,1CQI is from COTTiading liNIed.
CANTERBURY OAST TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 26 Related party transactlons Icontlnuedl COT Trading Limited cinc01p(thed Englarvj and Wal8s1 is a wholty owned trath"rrtJ sthswjiary whh gifts al its profils to Ihe Trust by wdy of Gift Aid. COT Trading Lirniled rateS Ihe shop at the Rare Breeds Cèntre and the Falcon Conference Centre and an othef significant commer(3al tra¢Jing operations carried on by the Tiust. For the year ended 31 March 2023 COT Tradirg kn41ed had a iurno¥er of £80.987 (2022-. 74.296) and made net loss of £21,151 12022.. £3.4491 and made a distribution ol £nil 12022.. £niD. The net liabilities of COT Trading Ltii)ited as al 31 March 223 were £51.32212022.' £30.1711. The c(¥npany has an unseCud loan ol £22,(NJO12022". £23,000). fepayable %wthin 10 years, frthn thE Tntst to Fxovide it wilh workn.ng ¢apital. Interest Is charged on Ihe kjan at the rale of 3.5% (2022.. 3.5%} per annum. 27 Cash genèrated from op•raiJ¢) 2023 2022 (Deficitltsurps for I year 11.585.32n 317,550 Adjuslmerts for. Investment incorne r•cognLsed in w)ts)me & expeTrJiture Interest payable Gain on disposal of laThJible fixed a8$ets Unreslricled lossllgain} on in¥eslments Depreoation ol lan9ibte fixed assets {4.3f 8.763 {19.2531 12.227 253.178 {923} 5.241 11.1161 1149,6581 217,950 Movernents in worting capit*". In(xea58 in siocks Oecrease in debtors IrK¥ease in crnditcrfs (5.0261 12.195 282.868 17,8451 578,174 153.939 Cash labsorbod byllgeneraied from op•rntions 11.044,675) 1.113,312