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2021-03-31-accounts
| Reference and administrative details of the charity |
Reference and administrative details of the charity |
| Company number: |
01964878 |
| Charity number: |
England: 293358 |
|
Scotland: 50040486 |
| Registered office: |
The Grange |
|
Wycombe Road |
|
Saunderton |
|
Princes Risborough |
|
Buckinghamshire |
|
HP27 9NS |
| Royal patron: |
HRH The Princess Royal |
| President: |
Sir Stuart Hampson CVO |
| Life vice-presidents: |
AG Blunt MBE |
|
D A Mclnnes |
| Vice-presidents: |
R Bourne |
|
Air Vice-Marshal D Crwys-Williams CB FCIPD FCIM |
|
Dr H Harris MB ChB FRCGP |
|
K W Keir OBE |
| Trustees: |
F B Clark |
|
Dr B Fogle MBE DVM MRCVS |
|
A C Bowers BSc ACA |
|
G P Burchett MBA FCMI |
|
E M Burness (Appointed 11 May 2021) |
|
M S Coote BSc (Appointed 11 May 2021) |
|
B S Downes LL.B FSHPA |
|
K A England RVN DipClM |
|
Dr V Harrison MA DPhil |
|
D L Hay |
|
S E Heath BVSc PgCertVE DipECAWBM(BM) CCAB FHEA FRCVS |
|
(Appninteri 11 My 21)21) |
|
AM Horsley JP DL |
|
VA Hunt |
|
K B Milsom BHSc Hons MSc (Appointed 11 May2021) |
|
CM P ODonovan-Rossa BA Hons MAACIB FCIPD DM5 |
|
Professor R T Ramsden MBE FRCS |
|
Year 2020121 |
Seventeen Year Period |
|
(Total Return) |
(Total Return) |
| Income and Growth Portfolio |
+18.5% |
+173.7% |
| MSCI WMA Private Investor Balanced |
÷22.1% |
+119.4% |
| ARC Balanced PCI |
+18.5% |
+135.6% |
| ARC Balanced ACI |
+19.0% |
156.9% |
| MSCI United Kingdom TR |
+20.1% |
+175.8% |
|
Year 2020121 |
Six Year Period |
|
(Total Return) |
(Total Return) |
| Growth Portfolio |
27,7% |
+453% |
| MSCI WMA Private Investor Growth |
+26.2% |
+559% |
| ARC Steady Growth PCI |
+24.8% |
+41.4% |
| ARC Steady Growth ACI |
±24.5% |
+43.5% |
| MSCI United Kingdom TR |
+20.1% |
+25.1% |
| Risks: |
|
|
Comments: |
| Dog supply pipeline. |
|
|
Affected by temporary suspension the charity’s breeding scheme |
|
|
|
and the availability of dogs from external breeders. |
|
|
|
Breeding scheme re-started/growing, improved dog selection, |
|
|
|
Creation of Companion Starter programme. |
| Availability of skilled dog training staff. |
|
|
Efficient HR recruitment process in place with an emphasis on |
|
|
|
transferable skills to help with staff retention. |
Availability
of
applicant |
population |
to |
Hearing Loss Services now taking responsibility. |
| receive their hearing dogs and matching |
|
|
New panel selection criteria have been developed. |
| processes impacted by Covid-19. |
|
|
|
|
|
Unrestricted |
Unrestricted |
Restricted |
Total |
|
Total |
|
|
|
Funds |
Funds |
2021 |
|
2020 |
|
Note |
|
£ |
£ |
£ |
|
£ |
| Income from: |
|
|
|
|
|
|
|
| Donations and legacies |
4 |
|
7407237 |
3614,669 |
11,021,906 |
|
9,199,195 |
| Grants receivable |
4 |
|
473,634 |
- |
473,634 |
|
- |
| Charitable activities |
4 |
|
51,601 |
- |
51,601 |
|
21,679 |
| Trading and fundraising |
4 |
|
546,005 |
- |
546,005 |
|
1,029,871 |
| Investments |
4 |
|
83,756 |
- |
83,756 |
|
89,039 |
| Other |
4 |
|
105,474 |
|
105,474 |
|
52,683 |
| Total income |
|
£ |
8.667.707 |
£3,614,669 |
|
fjQ392 467 |
|
| Expenditure on: |
|
|
|
|
|
|
|
| Raising funds |
5 |
|
2,153,453 |
- |
2,153,453 |
|
2,305,808 |
| Charitable activities |
5 |
|
4,594,971 |
2,737,757 |
7,332,728 |
|
7,548,983 |
| Total expenditure |
|
£ |
6.748.424 |
£2,737,757 |
|
£ |
9,854i9J |
| Net gains/(losses) on investments |
|
|
1,394,975 |
- |
1,394,975 |
|
(525,173) |
| Net income |
|
|
3,314,258 |
876,912 |
4,191,170 |
|
12,503 |
| Transfers between funds |
17 |
|
25,117 |
(25.117) |
|
|
|
| Net movement in funds |
|
|
3,339,375 |
851,795 |
4,191,170 |
|
12,503 |
| Reconciliation of funds: |
|
|
|
|
|
|
|
| Total funds brought forward |
|
|
17,695,467 |
538,086 |
18,233,553 |
|
18,221,050 |
| Total funds carried forward |
17 |
£ |
21.034.842 |
£1389881 |
£ 22.424.723 |
|
£16231553 |
|
|
The |
Group |
The |
Charity |
|
Note |
2021 |
2020 |
2021 |
2020 |
|
|
£ |
£ |
£ |
£ |
| Fixed assets: |
|
|
|
|
|
| Tangible assets |
9 |
7,502,323 |
7,640,881 |
7,502,323 |
7,640,881 |
| Investments |
10 |
8,706,292 |
7,277,086 |
8,706,294 |
7,277,088 |
| Total fixed assets |
|
16,208,615 |
14,917,967 |
16,208,617 |
14.917,969 |
| Current assets: |
|
|
|
|
|
| Assets held for resale |
|
|
900,000 |
- |
900,000 |
| Stocks |
11 |
35,564 |
29,801 |
- |
|
| Debtors |
12 |
1,348,613 |
922,595 |
1,470,120 |
1,018,380 |
| Short term deposits |
|
5,690,195 |
Z 159,494 |
5,688,077 |
Z 149,732 |
| Cash at bank and in hand |
|
16,679 |
23,999 |
16,677 |
23,997 |
| Total current assets |
|
7,091,051 |
4,035,889 |
7,174,874 |
4,092,109 |
| Liabilities: |
|
|
|
|
|
| Creditors: Amounts falling |
|
|
|
|
|
| due within one year |
13 |
(874,943) |
(720,303) |
(858,228) |
(692,440) |
| Net current assets |
|
6,216,108 |
3,315,586 |
6,316,646 |
3,399,669 |
| Total net assets |
14 |
£22A2422Z |
£J&233 553 |
£ 22.525,263 |
£ 18.317,638 |
| Funds: |
|
|
|
|
|
| Restricted funds |
17 |
1,389,881 |
538,086 |
1,389,881 |
538,086 |
| Unrestricted funds: |
|
|
|
|
|
| Designated funds |
17 |
15,803,329 |
13,680,563 |
15,803,329 |
13,680,563 |
| Operational reserve |
17 |
5,231.513 |
4,014,904 |
5,332,053 |
4,098,989 |
| Total funds |
17 |
£22,424,723 |
£JB.233.553 |
£ 22.525,263 |
£ 1&317.638 |
|
|
2021 |
|
2020 |
|
Notes |
£ |
£ |
£ |
| Cash flows from operating activities: |
|
|
|
|
| Net cash provided by/(used in) operating |
|
|
|
|
| activities |
18a |
|
2,742,640 |
1,527,365 |
| Cash flows from investing activities: |
|
|
|
|
| Dividends and interest from investments |
|
83,756 |
|
89,039 |
| Proceeds from the sale of tangible assets |
|
14,859 |
|
10,312 |
| Proceeds from the sale of tangible assets for resale |
|
959,852 |
|
- |
| Purchase of tangible assets |
|
(243,495) |
|
(209,187) |
| Purchase of tangible assets for resale |
|
- |
|
(900,000) |
| Proceeds from the sale of investments |
|
2,556,903 |
|
1,766,197 |
| Purchase of investments |
|
(2,535,125) |
|
(1,876,505) |
| Net cash (used in)iprovided by investing |
|
|
836,750 |
(1,120,144) |
| activities |
|
|
|
|
| Change in cash and cash equivalents in the |
18c |
|
3,579,390 |
407,221 |
| reporting period |
|
|
|
|
| Cash and cash equivalents at the beginning |
18b |
|
2,202,334 |
1,795,113 |
| of the reporting period |
|
|
|
|
| Cash and cash equivalents at the end of the |
18b |
|
£ 5.781.724 |
£ 2,202,334 |
| reporting period |
|
|
|
|
|
|
Unrestricted |
Restricted |
Total |
|
|
Funds |
Funds |
2020 |
|
Note |
£ |
£ |
£ |
| Income from: |
|
|
|
|
| Donations and legacies |
4 |
6,765,300 |
2,433,895 |
9,199,195 |
| Charitable activities |
4 |
21,679 |
- |
21,679 |
| Trading and fundraising |
4 |
1,029,871 |
- |
1,029,871 |
| Investments |
4 |
89,039 |
- |
89,039 |
| Other |
4 |
52,683 |
|
52,683 |
| Total income |
|
£ 7,958,572 |
£2433895 |
£10.392A7 |
| Expenditure on: |
|
|
|
|
| Raising funds |
S |
2,305,606 |
- |
2,305,808 |
| Charitable Activities |
5 |
5,431,236 |
p117,747 |
7,548,983 |
| Total expenditure |
|
£ 7,737O44 |
£2117747 |
|
| Net (losses)/gains on investments |
|
(525,173) |
|
(525,173) |
| Net income!(expenditure) |
|
(303,645) |
316,148 |
12,503 |
| Transfers between funds |
17 |
132.836 |
(132,836) |
|
| Net movement in funds |
|
(170,809) |
183,312 |
12,503 |
| Reconciliation of funds: |
|
|
|
|
| Total funds brought forward |
|
17,866,276 |
354,774 |
18.221,050 |
| Total funds carried forward |
17 |
£i7695.467 |
£53&066 |
£18.233.553 |
| 4. |
Income |
|
|
|
|
|
|
|
|
|
|
Unrestricted |
|
Restricted |
|
|
|
|
|
|
|
|
funds |
|
funds |
|
2021 |
|
2020 |
|
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Donations and legacies |
|
|
|
|
|
|
|
|
|
Donations |
|
767,158 |
|
1980,303 |
|
2,747,461 |
|
2,313,874 |
|
Income from branches |
|
38,131 |
|
- |
|
38,131 |
|
77,152 |
|
Sponsorship
Legacies
Sift Aid |
|
-
6,399,615
202,333 |
|
1,189,636
444,730
- |
|
1,189,636
6,844,345
202,333 |
|
942,689
5,675,053
190,427 |
|
|
£ |
7.4OL27 |
|
|
£11021906 |
|
£9,199,195 |
|
|
Grants receivable |
|
|
|
|
|
|
|
|
|
Coronavirus Job Retention |
|
450599 |
|
- |
|
450,599 |
|
- |
|
Scheme |
|
|
|
|
|
|
|
|
|
Local authority grants |
|
23,035 |
|
|
|
23,035 |
|
|
|
|
£ |
473AS4 |
£ |
- |
£__4fl.fiM |
|
£ |
- |
|
Charitable activities |
|
|
|
|
|
|
|
|
|
Sale of hearing equipment |
|
26,601 |
|
- |
|
26,601 |
|
21,679 |
|
Services to other charities |
|
25,000 |
|
|
|
25,000 |
|
- |
|
|
|
|
£ |
- |
|
|
£ |
21.679 |
|
Trading and fundraising
Fundraising events |
|
289,498 |
|
- |
|
289,498 |
|
393,164 |
|
Trading subsidiary income
Staff/Volunteer Restaurant |
|
256,507
- |
|
- |
|
256,507
- |
|
612,149
24,558 |
|
|
£ |
546,D05 |
£ |
- |
|
|
LL029.871 |
|
|
Investment income |
|
|
|
|
|
|
|
|
|
UK listed securities |
|
82477 |
|
- |
|
82,477 |
|
77,702 |
|
UK bank interest |
|
1,279 |
|
|
|
1.279 |
|
11,337 |
|
|
£ |
83j5 |
£ |
- |
|
|
£ |
89.039 |
|
Other income |
|
|
|
|
|
|
|
|
|
Rent received |
|
36,324 |
|
- |
|
36,324 |
|
52,683 |
|
Profit on sale of tangible assets |
|
63,235 |
|
- |
|
63,235 |
|
- |
|
Other income |
|
5915 |
|
|
|
5,915 |
|
|
|
|
C405A74 |
|
£ |
- |
£ |
105.474 |
£ |
52.683 |
|
Total income |
|
|
£ |
3.614.669 |
£12282376 |
|
£10392467 |
|
| 5. |
Expenditure |
|
|
|
|
|
|
|
|
|
|
|
|
Direct |
Staff |
Depreciation |
|
Support |
|
Total |
Total |
|
|
|
Costs |
Costs |
|
|
Costs |
|
2021 |
2020 |
|
Expenditure on; |
|
£ |
£ |
|
£ |
£ |
|
£ |
£ |
|
Raising funds: |
|
|
|
|
|
|
|
|
|
|
Donations and legacies |
|
999,847 |
615649 |
|
40,005 |
102669 |
|
1758,170 |
1,616,239 |
|
Fundraising trading |
|
279,079 |
43,270 |
|
- |
24738 |
|
347,087 |
640,780 |
|
Investment management |
|
48,196 |
- |
|
- |
- |
|
48,196 |
48,789 |
|
|
|
1,327,122 |
658919 |
|
40,005 |
127,407 |
|
2,153,453 |
2,305,808 |
|
Charitable activities: |
|
|
|
|
|
|
|
|
|
|
Provision of hearing dogs |
|
925,851 |
4,761,147 |
|
330,572 |
1,032,902 |
|
7,050,472 |
7,124,099 |
|
Supporting people affected |
|
|
|
|
|
|
|
|
|
|
by hearing loss |
|
11,069 |
247,356 |
|
|
23,831 |
|
282,256 |
424,884 |
|
|
|
936,920 |
5,008,503 |
|
330,572 |
1,056,733 |
|
7,332,728 |
7,548,983 |
|
Total expenditure 2021 |
£ |
2.264.042 |
£LL422 |
£ |
370.577 |
£Lt844t4il |
£ |
9.486,181 |
£J5t791 |
|
Totalexpenditure 2020 |
£ |
2.59T925 |
£5A6Q23 |
£ |
401.815 |
|
C9.854.791 |
|
|
|
|
|
|
General |
|
Legal & |
|
|
Total |
Total |
|
|
Facilities |
Management |
|
Professional |
|
IT |
|
2021 |
2020 |
|
|
£ |
|
£ |
|
£ |
£ |
|
£ |
£ |
| Raising funds; |
|
|
|
|
|
|
|
|
|
|
| Donations and legacies |
|
46,537 |
|
28,073 |
|
6,509 |
21,550 |
|
102,669 |
111,958 |
| Fundraising trading |
|
20,470 |
|
2,000 |
|
- |
2,268 |
|
24,738 |
22,236 |
|
|
67,007 |
|
30,073 |
|
6,509 |
23,818 |
|
127,407 |
134,194 |
| Charitable activities: |
|
|
|
|
|
|
|
|
|
|
| Provision of hearing dogs |
|
480,478 |
|
213,740 |
|
164,013 |
174,671 |
|
1,032,902 |
1,162,370 |
| Supporting people affected |
|
|
|
|
|
|
|
|
|
|
| by hearing loss |
|
7,915 |
|
9,593 |
|
5,190 |
1,133 |
|
23,831 |
98,251 |
|
|
488,393 |
|
223,333 |
|
169,203 |
175,804 |
|
1,056,733 |
f260,62l |
| Total support costs 2021 |
£ |
555,400 |
£ |
253.406 |
£ |
175.712 |
£t9L622 |
£ |
1.184,140 |
£L394.8l5 |
| Total supporl costs 2020 |
£ |
751,952 |
£ |
261,374 |
£ |
168.715 |
|
£ |
1,394,815 |
|
appropriate apportionment based mainly on the average numb
allocated to each cost heading is as follows: |
er of employees. The c |
ost percertage |
|
2021 |
2020 |
|
% |
|
| Raising funds: |
|
|
| Donations and legacies |
18.5 |
16.4 |
| Fundraising trading |
3.7 |
6.5 |
| Investment management |
0.5 |
0.5 |
| Charitable activities: |
|
|
| Provision of hearing dogs |
74.3 |
72.3 |
| Supporting people affected by hearing loss |
|
4.3 |
| his is stated after (credi |
ting)/charging: |
|
|
|
|
|
2021 |
|
2020 |
|
|
£ |
|
£ |
| (Profit)/loss on sale of fixed assets |
|
(3,383) |
|
21,746 |
| Depreciation |
|
370577 |
|
401,815 |
| Auditors’ remuneration |
- audit |
18,785 |
|
18,240 |
|
- other services |
7,563 |
|
2,420 |
| Operating lease rentals |
- equipment |
37,527 |
|
41,246 |
|
- property |
3.072 |
- |
5.532 |
| Staff costs and numbers |
|
|
| Staff costs were as follows:- |
2021 |
2020 |
|
£ |
£ |
| Salaries and wages |
5,002,352 |
4,824,319 |
| Social security costs |
471,637 |
442,596 |
| Pension contributions |
193,433 |
193,321 |
|
£ 5.667.422 |
£ 5,460,236 |
The number of employees whose emolume
ranges: |
nts exceeded £60,000 fell within t |
he following |
|
2021 |
2020 |
|
Number |
Number |
| £60,001 -£70,000 |
2 |
|
| £80,001 -£90,000 |
- |
|
| £90,001 -£100,000 |
I |
|
| £130,001 -E140,000 |
- |
I |
| £140,001 -f150,000 |
|
- |
|
2021 |
|
2020 |
|
|
Number |
|
Number |
|
|
Average |
FTE |
Average |
FTE |
| Hearing Dogs: supply, training, welfare and aftercare |
147 |
131 |
150 |
135 |
| Hearing Link: supporting people affected by hearing loss |
7 |
6 |
8 |
7 |
| Fundraising |
20 |
19 |
20 |
19 |
| Communications and marketing |
9 |
7 |
9 |
7 |
| Management and administration |
|
.ZU |
A? |
Al |
| Total |
1S6 |
lZfi |
199 |
119 |
| Tangible assets |
|
|
|
|
|
|
|
Freehold |
|
Motor |
Furniture |
|
|
|
property |
vehicles |
|
|
and |
|
| Group |
|
|
|
equipment |
|
Total |
|
£ |
|
£ |
|
£ |
£ |
| Cost |
|
|
|
|
|
|
| AtlApril 2020 |
9,327,129 |
|
347,523 |
|
1,601,081 |
11,275,733 |
| Additions |
24,196 |
|
22,930 |
|
196,369 |
243,495 |
| Disposals |
(14.110) |
|
(62,630) |
|
(179,001) |
(255.741) |
| At 31 March 2021 |
9,337.215 |
|
307823 |
|
1,618,449 |
11,263,487 |
| Depreciation |
|
|
|
|
|
|
| At 1 April2020 |
2,075,553 |
|
340,229 |
|
1,219,070 |
3,634,852 |
| Charge for the year |
166,574 |
|
6,738 |
|
177,265 |
370,577 |
| Disposals |
(2,634) |
|
(62,630) |
|
(179,001) |
(244,265) |
| At 31 March 2021 |
2,259,493 |
|
284,337 |
|
1,217,334 |
3,761,164 |
| Net book value |
|
|
|
|
|
|
| At 31 March 2021 |
£7.077.722 |
£_,23.48.Q |
|
£ |
401.115 |
£ 7.502.323 |
| At31 March2020 |
£7,251,576 |
£ |
7.294 |
£ |
382,011 |
£ 7.640,881 |
| Freehold property comprises: |
BWC |
|
|
The Grange |
|
Total |
|
£ |
|
|
|
£ |
£ |
| Net book value |
|
|
|
|
|
|
| AtlApril 2020 |
2,163,671 |
|
|
5,087,905 |
|
7,251,576 |
| Additions at cost |
|
|
- |
|
24,196 |
24,196 |
| Disposals at net book value |
|
|
- |
|
(11,476) |
(11,476) |
| Depreciation charge |
(56,578) |
|
|
(129,996) |
|
(186,574) |
| Net book value at 31 March 2021 |
£2107093 |
|
|
£4.970.629 |
|
|
| Fixed asset investments |
|
|
|
|
|
Group |
|
|
2021 |
|
2020 |
|
£ |
|
£ |
Quoted investments:
Market value at 1 April 2020 |
7,258,245 |
|
7,673110 |
| Purchases |
2,535,125 |
|
1,876,505 |
| Sales |
(2,556,903) |
|
(1,766,197) |
| Net investment (losses)/gains |
1,394.975 |
|
(525,173) |
| Market value at 31 March 2021 |
8,631,442 |
|
7,258,245 |
| Cash awaiting investment |
74,850 |
|
18,841 |
| Total at 31 March 2021 |
£8.706.292 |
|
£7277086 |
|
respect offinancial instrument |
s are |
as follows |
: |
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
|
|
|
|
|
|
£ |
|
£ |
|
Total dividend and interest income for basic financial |
|
|
|
assets |
|
|
£ |
89,039 |
|
Total gains/Qosses) in respect of basic financial assets |
|
|
|
|
|
|
Lt525.173) |
|
| 11. |
Stocks |
|
|
|
|
|
|
|
|
|
|
|
|
Group |
|
|
Charity |
|
|
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Goods for resale |
£ |
35.564 |
£ |
29,801 |
£ |
- |
L.
li |
|
| 12. |
Debtors |
|
|
|
|
|
|
|
|
|
|
|
|
Group |
|
|
Charity |
|
|
|
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Trade debtors |
|
- |
|
171 |
|
|
|
|
|
Loan to subsidiary |
|
- |
|
- |
|
135,010 |
|
90.010 |
|
Other amounts due from |
|
|
|
|
|
|
|
|
|
subsidiary |
|
|
|
- |
|
13,949 |
|
14,486 |
|
Prepayments |
|
50,761 |
|
75,538 |
|
50,261 |
|
75,038 |
|
Other debtors and |
|
|
|
|
|
|
|
|
|
accrued income |
|
1,297,852 |
|
846.886 |
|
1,270,900 |
|
838,846 |
|
|
|
|
£ |
922.595 |
j,,4JQj |
|
£101838.0 |
|
|
|
Group |
|
|
|
Charity |
|
2021 |
|
2020 |
|
2021 |
2020 |
|
£ |
|
£ |
|
£ |
£ |
| Trade creditors |
321,763 |
|
305,948 |
|
312,196 |
287,130 |
| Taxation and social security |
130,410 |
|
116,823 |
|
130,410 |
116,823 |
| Other creditors and accruals |
422770 |
|
297,532 |
|
415,622 |
288,487 |
|
3j4 |
£ |
720,2Q3 |
£ |
858.228 |
£692,440 |
| nalysis of group net assets betw |
ee |
n funds |
|
|
|
| 2021 |
|
Restricted |
Unrestricted |
Unrestricted |
Total |
|
|
funds |
designated |
operational |
Funds |
|
|
|
funds |
reserve |
|
|
|
£ |
£ |
£ |
£ |
| Tangible fixed assets |
|
- |
7,502,323 |
- |
7,502,323 |
| Investments |
|
- |
8,057,065 |
649,227 |
8,706,292 |
| Current assets |
|
1,389,881 |
243,941 |
5,457,229 |
7,091,051 |
| Current liabilities |
|
- |
- |
(874,943) |
(874,943) |
| Group funds at 31 March 2021 |
|
1,389,881 |
15,803,329 |
5,231,513 |
22,424,723 |
| Add: Subsidiary net liabilities |
|
- |
- |
100,540 |
100,540 |
| Charity funds at 31 March 2021 |
|
|
£15.803.329 |
£5332053 |
|
| 2020 |
|
|
|
|
|
| Tangible fixed assets |
|
- |
7,640,881 |
- |
7,640,881 |
| Investments |
|
- |
5,973,697 |
1.303,389 |
7,277,086 |
| L.urrent assets |
|
DJ,(JOO |
OD,9dD |
J,4J?,dld |
4,UJD,ddY |
| Current liabilities |
|
- |
- |
(720,303) |
(720,303) |
| Group funds at 31 March 2020 |
|
538,086 |
13,680,563 |
4.014,904 |
18,233,553 |
| Add: Subsidiarynet liabilities |
|
- |
- |
84,085 |
84,085 |
| Charity funds at 31 March 2020 |
£ |
538.086 |
£13,680,563 |
£4,09&989 |
£f3l7.638 |
|
|
|
|
|
2021 |
|
|
|
|
|
2020 |
|
|
|
|
|
Property |
|
|
|
|
|
Property |
|
|
|
|
|
|
|
leases |
|
Other |
|
Total |
|
leases |
|
Other |
|
Total |
|
|
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| Operating |
leases |
|
|
|
|
|
|
|
|
|
|
|
|
| due: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Within one |
year |
|
2,832 |
|
24,202 |
|
27,034 |
|
5,628 |
|
31,951 |
|
37,579 |
| Between 2 |
— 5 years |
|
|
|
3,748 |
|
3,748 |
|
- |
|
19,676 |
|
19,676 |
| Total |
|
£ |
2.832 |
£ |
27.950 |
£ |
30.782 |
£ |
5,628 |
£ |
51.627 |
£ |
57,255 |
nd sells promotional items.
It donates its taxable pr |
ofits
to the cha |
rity. |
|
|
|
2021 |
2020 |
|
|
£ |
£ |
| Trading and profit and loss account |
|
|
|
| Turnover |
|
256,507 |
612,149 |
| Cost of sales |
|
(191,470) |
(475,129) |
| Gross profit |
|
65037 |
137,029 |
| Grants receivable |
|
23,035 |
|
| Administrative expenses |
|
(101,609) |
(150,693) |
| Operating loss |
|
(13,537) |
(13,664) |
| Interest payable |
|
(2,918) |
(2.721) |
| Loss on ordinary activities |
|
(16,455) |
(16,385) |
| Retained losses brought forward |
|
(84,087) |
(67,702) |
| Retained losses carred forward |
|
|
87 |
| Balance sheet |
|
|
|
| Total assets |
|
65,134 |
48,274 |
| Total liabilities |
|
(165,674) |
(132,359) |
| Net liabilities |
£(100.540 |
|
C85 |
| Share capital |
|
2 |
2 |
| Retained losses |
|
(100,542) |
(84,087) |
| Capital and reserves |
£ |
1100.540) |
|
7.
Movement in funds |
|
|
|
|
|
|
|
|
|
Investment |
|
| 2021 |
|
Total |
Total |
Gains! |
|
|
2020 |
Income |
Expenditure |
Transfers |
2021 |
| Restricted funds: |
£ |
£ |
£ |
£ |
£ |
| Hearing Dogs: |
|
|
|
|
|
| By project!activity |
|
|
|
|
|
| Physical Facility |
275,000 |
15,000 |
- |
- |
290000 |
| Hearing Dogs for Deaf Children |
- |
101,118 |
(101,118) |
- |
- |
| Breeding and Genetics Centre |
22,333 |
58,000 |
(58,000) |
(2350) |
19,983 |
| Hearing Dogs Training |
- |
1,742,867 |
(1,742,867) |
- |
- |
| Puppy Socialising Areas |
170,897 |
424,000 |
(382,897) |
- |
212,000 |
| Assistance Dogs Access |
- |
45,000 |
- |
- |
45,000 |
| Community Fundraising Officer |
- |
11,934 |
- |
- |
11,934 |
| Dog Welfare |
- |
30,165 |
(30,165) |
- |
- |
| Upgrade: Training Flats and Fencing |
- |
198,047 |
- |
(22,767) |
175,280 |
| Upgrade: The Grange Farmhouse |
- |
300,000 |
- |
- |
300,000 |
| Lifetime Partnership Support |
- |
400,000 |
(125,000) |
- |
275,000 |
| Other projects less than £10,000 |
3,000 |
14,407 |
(12,614) |
- |
4,793 |
| By location |
|
|
|
|
|
| Jersey |
12,291 |
- |
(1,373) |
- |
10,918 |
| Oxfordshire |
14,724 |
7,500 |
(22,224) |
- |
- |
| Bedfordshire |
- |
13,500 |
(13,500) |
- |
- |
| Dundee |
- |
6,800 |
(4,119) |
- |
2,681 |
| Glasgow |
- |
5,000 |
(5,000) |
- |
- |
| Greater Manchester |
- |
10,500 |
(10,500) |
- |
- |
| Hampshire |
- |
5,000 |
(5,000) |
- |
- |
| Kent |
- |
6,340 |
(6,340) |
- |
- |
| Leicestershire |
- |
6,100 |
(6,100) |
- |
- |
| Merseyside |
- |
11,500 |
(11,500) |
- |
- |
| Scotland |
- |
12,650 |
(12,650) |
- |
- |
| Yorkshire |
- |
7,220 |
(7,220) |
- |
- |
| Amounts less than £5,000 |
|
78,637 |
(76,510) |
|
2,127 |
| Hearing Dogs Total |
498.245 |
3.511,285 |
(2,634.697) |
(25.117) |
1,349,716 |
| Hearing Link: |
|
|
|
|
|
| By prolectIactivity |
|
|
|
|
|
| Hearing Aid Liaison Outreach |
3,658 |
14350 |
(9510) |
- |
8,498 |
| Website Development |
- |
25576 |
- |
- |
25,576 |
| By location |
|
|
|
|
|
| Northern Ireland |
33,713 |
42,995 |
(71,758) |
- |
4,950 |
| Scotland |
2,470 |
20,463 |
(21,792) |
- |
1,141 |
| Hearing Link Total |
39,841 |
103,384 |
(103,060) |
- |
40,165 |
| Total restricted |
538,086 |
3,614,669 |
(2,737,757) |
(25,117) |
1,389,881 |
17.
Movement in funds (contin |
ued) |
|
|
|
|
|
|
|
|
Investment |
|
|
|
Total |
Total |
Gainsl |
|
|
2020 |
Income |
Expenditure |
Transfers |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds: |
|
|
|
|
|
| Designated funds: |
|
|
|
|
|
Freehold
— BWC |
2,163,671 |
- |
(56,578) |
- |
2,107,093 |
| Freehold —The Grange |
5,087,905 |
- |
(129,996) |
12,720 |
4,970,629 |
| Other functional fixed assets |
389,305 |
- |
(184003) |
219299 |
424,601 |
| Sub-total fixed assets |
7,640,861 |
- |
(370,577) |
232,019 |
7,502,323 |
| Capital Commitments |
65,985 |
- |
- |
177,956 |
243,941 |
| Total fixed assets |
7,706,866 |
- |
(370,577) |
409,975 |
7,746,264 |
| Partnership Commitments |
5,973,697 |
- |
(1,038,233) |
1,121,601 |
6,057,065 |
| Coronavirus Recovery Fund |
|
|
- |
2,000,000 |
2,000,000 |
| Total designated |
13,680,563 |
- |
(1,408,810) |
3,531,576 |
15,803,329 |
| Operational reserve |
4,014,904 |
8,667,707 |
(5,339,614) |
(2,111,484) |
5,231.513 |
| Total unrestricted |
17,695,467 |
8667,707 |
(6,748,424) |
1,420,092 |
21,034,842 |
| Total funds |
£18,233,553 |
£11282376 |
L1j |
£1,394,975 |
£22424723 |
| investment gains of £1,394,975 (2020: |
losses £525,17 |
3). |
|
|
|
| 2020 |
|
|
|
Investment |
|
|
|
Total |
Total |
Gains/ |
|
| Restricted funds: |
2019 |
Income |
Expenditure |
Transfers |
2020 |
|
£ |
£ |
£ |
£ |
£ |
| Hearing Dogs: |
|
|
|
|
|
| Byproject/activity |
|
|
|
|
|
| Physical Facility |
200,000 |
75,000 |
- |
- |
275,000 |
| Hearing Dogs for Deaf Children |
- |
64,033 |
(64,033) |
|
|
| New Breeding and Genetics Centre |
- |
181,000 |
(28,861) |
(129,806) |
22,333 |
| Hearing Dogs Training |
- |
194,398 |
(194,398) |
- |
- |
| Puppy Socialising and Training |
- |
1,062,689 |
(1,062,689) |
- |
|
| Puppy SocialisingAreas |
- |
498,500 |
(327,603) |
- |
170,897 |
| Otherprojects less than £5,000 |
5,030 |
10,710 |
(9,710) |
(3,030) |
3,000 |
| Bylocation |
|
|
|
|
|
| Jersey |
13,658 |
|
(1,367) |
- |
12,291 |
| Devon and Cornwall |
3,548 |
17,500 |
(21,048) |
- |
- |
| Oxfordshire |
31,596 |
5,000 |
(21,872) |
- |
14,724 |
| Bedfordshire |
- |
8,500 |
(8,500) |
- |
- |
| Birmingham |
- |
7,500 |
(7,500) |
- |
- |
| Buckinghamshire |
- |
7,896 |
(7,896) |
- |
- |
| Essex |
- |
7,000 |
(7,000) |
- |
- |
| Glasgow |
- |
9,000 |
(9,000) |
. |
- |
| Greater Manchester |
- |
15,500 |
(15,500) |
. |
- |
| Great Yarmouth and Norfolk |
- |
6,980 |
(6,980) |
- |
- |
| Leicestershire |
- |
5.500 |
(5,500) |
- |
- |
| Lincolnshire |
- |
6,000 |
(6,000) |
- |
- |
| North West England |
- |
10,412 |
(10,412) |
- |
- |
| Scotland |
- |
18,525 |
(18,525) |
- |
- |
| Shropshire |
- |
5,500 |
(5,500) |
- |
- |
| South East England |
- |
12,500 |
(12.500) |
- |
- |
| Wales |
- |
6,000 |
(6,000) |
- |
- |
| Amounts less than £5,000 |
|
45,926 |
(45.926) |
|
|
| Hearing Dogs Total |
253,832 |
2,281,569 |
(1,904.320) |
(132,836) |
498,245 |
| Hearing Link: |
|
|
|
|
|
| Byproject/activity |
|
|
|
|
|
| Let’s Hear Project |
42,902 |
11,962 |
(54,864) |
- |
- |
| Helpdesk |
5,000 |
8,000 |
(13,000) |
- |
- |
| HearingAid Liaison Outreach |
- |
7,175 |
(3,517) |
- |
3,658 |
| Bylocation |
|
|
|
|
|
| Northern Ireland |
33,040 |
101,019 |
(100,346) |
- |
33,713 |
| Wales (Awards forAll) |
10,000 |
. |
(10,000) |
- |
- |
| England (Awards for All) |
10,000 |
- |
(10,000) |
- |
- |
| Scotland |
. |
24,170 |
(21,700) |
|
2,470 |
| Hearing Link Total |
100,942 |
152,326 |
(213,427) |
|
39,841 |
| Totalrestricted |
354,774 |
2,433,895 |
(2,117,747) |
(132,836) |
538,086 |
7.
Movement in funds (cont |
inued) |
|
|
|
|
|
|
|
|
Investment |
|
|
|
Total Income |
Total |
Gains! |
|
| 2020 |
2019 |
|
Expenditure |
Transfers |
2020 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds: |
|
|
|
|
|
| Designated funds: |
|
|
|
|
|
| Freehold— BWC |
2215,735 |
- |
(56,526) |
4,462 |
2,163,671 |
| Freehold— The Grange |
5,117,202 |
- |
(128,580) |
99,283 |
5,087905 |
| Leasehold |
29,239 |
- |
(29,239) |
- |
- |
| Other functional fixed assets |
503,391 |
- |
(219.528) |
105,442 |
389,305 |
| Sub-total fixed assets |
7,865,567 |
- |
(433,873) |
209,187 |
7,640,881 |
| Capital Commitments |
6,048 |
- |
- |
59,937 |
65,985 |
| Total fixed assets |
7,871,615 |
- |
(433,673) |
269,124 |
7,706,866 |
| Partnership Commitments |
5,296,439 |
- |
(540,928) |
1,218.186 |
5.973,697 |
| Total designated |
13,168,054 |
- |
(974,801) |
1,487,310 |
13,680,563 |
| Operationalreserve |
4,698,222 |
7,956,572 |
(6,762,243) |
(1,879,647) |
4.014,904 |
| Total unrestricted |
17,866,276 |
7,958,572 |
(7,737,044) |
(392,337) |
17.695,467 |
| Total funds |
£fS22tØ0 |
£1Q.3D2.4&7 |
£(9.854,194J |
£ (525.In) |
|
| 18a. |
Reconciliation of net income to net cash flow from opera |
ting activities |
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Net income |
4,191,170 |
12,503 |
|
Adjustments for: |
|
|
|
Depreciation charges |
370,577 |
401,815 |
|
(Gains)/losses on investments |
(1,394,975) |
525,173 |
|
Dividends and interest from investments |
(83,756) |
(89,039) |
|
(Profit)/loss on sale of tangible fixed assets |
(3,383) |
21,746 |
|
(Profit) on sale of tangible assets held for resale |
(59,852) |
- |
|
(lncrease)/decrease in stock |
(5,763) |
8,215 |
|
(lncrease)/decrease in debtors |
(426,018) |
645,806 |
|
Increase in creditors |
154,640 |
1,146 |
|
Net cash provided by/(used in) operating activities |
£ 2.742.640 |
£_i. 527,365 |
| 18b. |
Analysis of cash and cash equivalents |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Cash awaiting investment (note 10) |
74,850 |
18,841 |
|
Short term deposits |
5,690,195 |
2,159,494 |
|
Cash at bank and in hand |
16,679 |
23,999 |
|
Total cash and cash equivalents |
£ 5.781.724 |
L2202,334 |
| ovem |
ent in netftinds |
|
|
|
|
|
At 01 April |
Cash flow |
At 31 March |
|
|
2020 |
|
2021 |
|
|
£ |
£ |
£ |
| Short |
term deposits |
2,159,494 |
3,530,701 |
5,690,195 |
| Cash |
at bank and in hand |
23,999 |
(7,320) |
16,679 |
| Cash |
held awaiting investment |
18,841 |
56,009 |
74,850 |
| Total |
net cash |
£2.202.334 |
£ 3.579.390 |
£5.781.724 |
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
|
£ |
|
£ |
| Contracted |
capital |
commitments |
for |
the |
group |
and |
the |
charity |
£ |
243.941 |
£ |
86.259 |