2022-03-31-accounts - Milestones Trust

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Registered	office	and
principal	address:		Unit 10,Eclipse Office		Park
			High Street, Staple Hill
			Bristol BS165EL
Trustees and directors:			DNordberg (Chair)
			D D Wilson			PM Collins
			JEBuswell			TSJenkinson
			KPatdson			S Cummings
			SJJones			NL McKen
			DP Sarpong (appointed		13December 2021)
			KD Guy (retired 30	June 2021)
			RH Nash (retired 13December			2021)
			JH Self(resigned 27June 2022)
Secretary:			H A Pearce
Key Management		Personnel:	H Crowhurst			Chief Executive
			H APearce			Director ofFinance
			JParry			Director ofOperations
			GMeehan			Director ofHuman Resources
			M Beavis			Director ofEstates, Facilities and IT
Auditor:			Mazars LLP
			90Victoria Street
			Bristol BSI6DP
Solicitors;			Royds Withy King
			5-6Northumberland	Buildings
			Queens Square
			Bath BAI 2JE
			Lyons Davidson
			43 Queens Square
			Bristol BSI4QP
Bankers:			National Westminster	Bank
			Floor 2, Trinity Quay	2
			Avon Street
			Bristol BS2OPT
Investment	advisors:		Barclays Wealth Management
			I Churchill Place
			Canary Wharf
			London E145HP

Ener	consum	consum	tion	used	to calculate emissions	to calculate emissions	to calculate emissions	kwli
Natural	as							4,407,098
Electrici								1,417,310
Vehicles								308,254
Total ener		consum		tion	Wh			6,132662
Sco e 1	emissions		in	metric	tonnes CO2e			tCO2e
Natural	as							810.33
Vehicles								71.92
Sco e2	emissions		in	metric	tonnes CO2e
Eiectrici								330.43
Total oss		emissions		in inetric tonnes CO2e				1,212.69
Intensi	ratiotCO2e			eravera		eFTEem	lo ee	1.59

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			Unrestricted			Unrestricted
			Income	Restricted		Income	Restricted
		Notes	Fund	Funds	Total	Ftiiid	Funds	Total
			2022	2022	2022	2021	2021	2021
						8	8	8
FIXEDASSETS
Tangible assets		13	11,584,835	2,160,823	13,745,658	12,133,607	2,044,392	14,174,999
Intangible assets		14	306,949		306,949	280,720		280,720
Investments		15	1,991,923		1,991,923	1,419,806		1,419,806
Total fixed assets			13,883,707	2,160,823	16,044,530	13,831,133	2,044,392	15,875,525
CURRENT ASSETS
Debtors		16	1,862,165		1,862,165	1,772,433		1,772,433
Cash at bank and in hand			5,451,438	309,303	5,760,741	5,887,207	64,878	5,952,085
Total current assets			7,313,603	309,303	7,622,906	7,659,640	64,878	7,724,518
CREDITORS; Amounts
falling due within one year		17	(2,448,729)		(2,448,729)	(1,908,655)		(1,908,655)
Net current assets			4,864,874	309,303	5,174,777	5,570,985	64,878	5,815,863
TOTAL ASSETSLESS
CURRENT LIABILITIES			18,748,581	2,470,126	21,218,707	19,582,118	2,109,270	21,691,388
CREDITORS: Amounts
fallmg due in over one	year	18	(9,072)		(9,072)	(19,958)		(19,958)
PROVISIONS for liabilities
and charges		20	(16,321)		(16,321)	(62,988)		(62,988)
NET ASSETS			18,723,188	2,470,126	21,193,314	19,499,172	2,109,270	21,608,442
FUNDS OF THE CHARITY
Funds invested in fixed	assets		11,871,826		11,871,826	12,380,482		12,380,482
Investment revaluation	reserve		83,459		83,459	5,651		5,651
Funds available for use			6,767,903		6,767,903	7,113,039		7,113,039
Unrestricted income funds		23	18,723,188		18,723,1SB	19,499,172		19,499,172
Restricted funds		24		2,470,126	2,470,126		2,109,270	2,109,270
TOTAL CHARITY FUNDS			18,723,188	2,470,126	21,193,314	19,499,172	2,109,270	21,608,442

			2022	2021
CASH FLOWS FROM OPERATING		ACTIVITIES
Net incoming resources			(415,128)	1,346,679
Adjustments for:
Depreciation and amortisation			523,129	490,180
(Surplus)/loss on sale ofproperty,		plant and equipment	(77,132)	(362,789)
Investments (gains)/losses			(72,116)	(254,035)
Investment income			(43,165)	(43,609)
Interest expense			363	1,676
Trade and other receivables			(89,732)	14,350
Trade and other payables			504,111	(254,997)
			330,330	937,455
CASH FLOWS FROM INVESTING		ACTIVITIES
Purchase ofproperty, plant and equipment			(155,454)	(137,872)
Purchase ofintangibles			(126,591)	(175,854)
Proceeds on disposal ofproperty,	plant and equipment		228,455	510,532
Additions to investment funds			(500,000)
Interest received			43,165	43,609
			(510,425)	240,415
CASH FLOWS FROM FINANCING		ACTIVITIES
Interest paid			(363)	(1,676)
Finance lease repayments made			(10,886)	(10,886)
			(11,249)	(12,562)
NET (DECREASE)/INCREASE	IN CASH AND CASH EQUIVALENTS		(191,344)	1,165,308
Cash and cash equivalents at the	beginning ofthe year		5,952,085	4,786,777
CASH AND CASH EQUIVALENTS		AT THE END OF THE YEAR	5,760,741	5,952,085

3. INCOME FROM DONATIONS
	2022	2021
Restricted capital grant	249,747
Restricted income donations
Restricted Covid related grants	806,667	901,963
Coronavirus Job Retention Scheme	4,671	571,219
Donations from Quartet	21,627	43,911
Health Education England grant	38,550	29,639
Other restricted grants and donations	37,537	33,376
	909,052	1,580,108
Unrestricted donations
Unrestricted Covid related grants		600,086
Other unrestricted grants and donations	38,513	34,629
	38,513	634,715
	1,197,312	2,214,823

		2022	2021
Interest	receivable	3,282	6,028
Income	from stock exchange investments	39,883	37,581
		43,165	43,609

					2022	2021
Health authority grant					462,618	618,945
Contract income					27,122,813	25,474,793
Service user contributions					1,302,032	1,437,742
PCT funding re increased			pension contributions	(note 27)	49,037	53,869
Other operational	income				18,191	13,973
					28,954,691	27,599,322
6. EXPENDITURE ON CHARITABLE ACTIVITIES
					2022	2021
Staffcosts
Employee costs					17,314,749	18,669,555
Agency staff costs					5,438,170	2,960,528
					22,752,919	21,630,083
Non-Pay costs
Food and household					569,241	638,724
Residents'amenities					141,886	162,240
Travel costs					226,509	173,659
Telephone					99,575	111,303
Stationery and office expenses					68,990	83,213
Hygiene and medical					294,749	421,369
Bad debts					(2,049)	(19,425)
					1,398,901	1,571,083
Property costs
Utilities					482,090	486,160
Registration fees					45,345	48,124
Loan interest					363	1,676
Rent					367,337	364,309
Fixtures, repairs and maintenance					1,627,942	1,349,506
Property management		charges			42,000	42,817
Depreciation					363,963	372,275
Council tax					88,315	90,412
					3,017,355	2,755,279
Support costs reallocated			(note 7)		3,550,541	3,129,769
Governance costs reallocated (note 8)					35,557	32,725
TOTAL EXPENDITURE					30,755,273	29,118,939

7.	SUPPORT COSTS
						2022	2021
Head	office property costs					214,431	153,782
Head	office staff costs					1,978,482	1,784,964
Head	office agency costs					14,126	4,350
Staff	training and development					119,662	85,512
Staff	recruitment					126,970	47,320
Staff	and payroll support costs					318,655	349,175
Information technology						283,619	217,707
Insurance						147,969	133,914
Office consumables						85,763	91,946
Legal	and professional fees					50,806	67,402
Bank	charges					12,250	12,246
Mmkeiing						51,156	61,761
Head	office depreciation					124,000	83,631
Other	head office expenses					40,494	51,786
						3,568,383	3,145,496
Less	0.5%recharge to expenditure			on raising funds (note 9)		(17,842)	(15,727)
						3,550,541	3,129,769
8.	GOVERNANCE COSTS
						2022	2021
Reimbursement ofTrustees'			expenses			905	118
Trustees' meeting, training		and recruitment			costs	2,957
External auditors' fees						21,840	21,420
Recharge 5%salary costs for			Chief	Executive and Director ofFinance		9,855	11,187
						35,557	32,725

9, EXPE	NDITURE ON RAISING FUNDS
		2022	2021
Fundraising	staff costs	11,388	13,889
Recharge 0.5%ofsupport costs (note 7)		17,842	15,727
		29,230	29,616

					2022	2021
Wages and salaries					17,661,286	18,734,763
Social security		costs			1,227,712	1,348,752
Other pension		costs			414,487	425,386
					19,303,485	20,508,901
Apprenticeship		levy			83,555	76,862
					19,387,040	20,585,763
Remuneration		costs ofkey management		personnel	399,876	430,648
Redundancy	and termination		payments		108,125	248,575

The average	number ofemployees during t	he year was as follows:
				Whole time
		Average	number	equivalents
		2022	2021	2022	2021
Management	and administration	59	67	59	59
Care staff		901	999	706	795
		960	1,066	765	854

Employe	es	whose emoluments fell within the following	ranges were as follows:
			2022	2021
860,000	to	I70,000
$70,000	to	F80,000
f80,000	to	090,000
F90,000	to	f100,000

12. NET INCOME	FOR	THE YEAR
					2022	2021
This is stated after crediting:
Profit on disposal oftangible fixed assets					77,132	362,789
and after charging:
Operating leases - property		rental			427,224	412,608
-motor vehicles					40,755	39,945
Auditor's remuneration	—audit fees				18,200	18,200
13. TANGIBLE FIXED		ASSETS
			Freehold	Fixtures Ifr	Motor
			properties	equipment	vehicles	Total
COST
At 1April 2021			21,011,215	339,275	361,952	21,712,442
Additions			150,994	4,459	0	155,453
Disposafs			(219,779)		(4,399)	(224,178)
At 31March 2022			20,942,430	343,734	357,553	21,643,717
DEPRECIATION
At I April 2021			6,953,125	243,984	340,334	7,537,443
Charge for the year			375,556	46,497	11,418	433,471
Disposals			(68,456)		(4,399)	(72,855)
At 31March 2022			7,260,225	290,481	347,353	7,898,059
NET BOOK VALUE
At 31March 2021			14,058,090	95,291	21,618	14,174,999
At 31March 2022			13,682,205	53,253	10,200	13,745,658

14. INTANGIBLE FIXEDASSETS
	SoAware
	costs
COST
At 1April 2021	500,355
Additions	115,887
Disposals	(167,950)
At 31March 2022	448,292
DEPRECIATION
At 1 April 2021	219,635
Charge for the year	89,658
Dispossls	(167,950)
At 31March 2022	141,343
NET BOOK VALUE
At 31March 2021	280,720
At 31March 2022	306,949

			2022	2021
Listed Investments
Valuation	at 1 April 2021		1,419,806	1,165,771
Additions	to investment	funds	500,000
Realised (losses)/profits		on disposal	(5,690)	(8,165)
Unrealised	profits/(losses)	on revaluation	77,807	262,200
Valuation	at 31March 2022		1,991,923	1,419,806

		2022	2021
Operational	debtors	1,595,000	1,466,892
Other debtors		3,247	62,085
Prepayments	and accrued income	263,918	243,456
		1,862,165	1,772,433

17. CREDITORS —AMOUNTS FALLING DUE W	ITHIN ONE YEAR
	2022	2021
Finance lease creditor	10,886	10,886
Trade creditors	1,122,069	870,843
Tax and social security	260,803	84,469
Other creditors	158,563	140,479
Accruals and deferred income	896,408	801,978
	2,448,729	1,908,655

18. CREDITORS —AMOUNTS FALLING DUE AFTER MORE	THAN ONE YEAR
	2022	2021
Finance lease creditor	9,072	19,958
19. MATURITY OFLONG TERM CREDITORS
Finance leases
	2022	2021
Amounts falling due:
Within one year (note 17)	10,886	10,886
Within 1 to 2years	9,072	19,958
	19,958	30,844
Less: amounts falling due
within one year (note 17)	(10,886)	(10,886)
	9,072	19,958

20. PRO	VISI	ONS FORLIABILITIESAND CHARGES
			Pension
			deficit
At 1 April	2021		62,988
Paid during	the	year	(15,940)
Re-measurement		ofprovision	(31,090)
Unwinding	ofdiscount factor		363
At 31March 2022			16,321

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		Land and	Motor	Land and	Motor
		Buildings	Vehicles	Buildings	Vehicles
		2022	2022	2021	2021
Expiring	within one year	312,545		311,095	4,977
Expiring	in two to five years	22,325		11,450
Expiring	in more than five years
		334,870		322,545	4,977