## 



## 



## 

|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<br>of<br>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<br>Legacies<br>Sift Aid||-<br>6,399,615<br>202,333||1,189,636<br>444,730<br>-||1,189,636<br>6,844,345<br>202,333||942,689<br>5,675,053<br>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<br>Fundraising events||289,498||-||289,498||393,164|
||Trading subsidiary income<br>Staff/Volunteer Restaurant||256,507<br>-||-||256,507<br>-||612,149<br>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<br>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<br>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:<br>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.<br>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.<br>It donates its taxable pr|ofits<br><br>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.<br>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.<br>Movement in funds (contin|ued)|||||
|---|---|---|---|---|---|
|||||Investment||
|||Total|Total|Gainsl||
||2020|Income|Expenditure|Transfers|2021|
||£|£|£|£|£|
|Unrestricted funds:||||||
|Designated funds:||||||
|Freehold<br>— 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.<br>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|



## 

##