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2021-01-31-accounts

Revitalise Respite Holidays

Annual Report and Consolidated Accounts for the year ended 31[st] January 2021.

Company Number 2044219. Registered Charity Number 295072.

Our Mission

We are the people who create revitalising holidays for disabled people and carers – everything you’d expect from a holiday backed up by excellent nurse-led care and an army of brilliant volunteers to get the party started – and keep it going.

Our Vision

So much of life is other people. And disability can so often get in the way of having the energy and opportunity to create and look after those relationships which matter so much. We’re here to offer those opportunities – filled with fun, new experiences, fresh faces – and the security of 24-hour care in environments that are fully – and invisibly – accessible.

The Team

Trustees

At the date of signing of these accounts the Trustees of Revitalise are:

George Blunden Chair of the Board of Trustees

George joined the Revitalise Board of Trustees as Chair on 5[th] February 2020, taking over from Mindy Sawhney. He began working life as an adventure playground worker before establishing his career in the banking, investments and insurance sectors where he has held a number of senior executive and non-executive positions including with Warburg Securities, Union PLC and AllianceBernstein. George has a long association with the housing and care sectors in particular, having held a number of non-executive positions whilst working in the City, including as Chair of an alms-houses group in the 1980s, followed by the Chairmanship of Southern Housing Group; a position he held from 1992 - 2006. For the last nine years, he has been the Senior Independent Director of the insurance company Beazley plc, the Chair of Charity Bank, the specialist retail bank which lends to charities and social enterprises, and the Chair of Stonewater Housing Association. He continues as a non-executive director of the Lloyd’s subsidiary of Beazley and has recently become Chair of The Housing Finance Corporation, which funds social housing.

George has a flat in Venice and likes to escape there whenever he can, to enjoy the most extraordinary city in the world.

Jane Kennedy Chair of the People Committee

Jane joined the Board in 2019 and is Chair of the People Committee. She left her Executive role in July 2017 to pursue a portfolio career which has become varied and exciting including HR and Operations consultancy services for a range of clients, Executive coaching, NED for NHS Property Services and Progress, alongside a Vice Chairman role for Age UK (Hythe and Lyminge). She was previously Chief Operating Officer and HR Director of Just Group and Partnership Assurance Services. Jane has also held senior roles in Saga Services, Colonial Mutual Life Assurance, GHL Group, Barclays Retail Mortgages and Scottish Widows. Jane has two sons and lives on the coast with her husband, two dogs and a cat. Outdoors is where

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Jane is happiest, and she loves long walks in the Kent countryside and along the beaches and is a keen skier. She also enjoys the theatre, ballet and live music.

William Maughan Chair of the Brand & Commercial Development Committee

William joined the Board on 29 January 2020 and is a member of both the Brand & Commercial Development and People Committees. He is the co-founder of the right brain management consultancy Industrial Clairvoyants, where he has acted as Managing Partner for over 20 years. The consultancy uses right brain approaches to unlock and realise potential for clients including The Radisson Hotel Group, John Lewis Partnership and Virgin Holidays, with a focus on helping organisations to create emotionally intellgent strategies. William has advised senior leaders and clients in areas including consumer and employee insight, employee engagement and wellbeing, employee proposition and service proposition development. William’s ideal holiday is without a watch, keys and phone. It’s hot and sunny with some sport or exercise but much more relaxation, so that he and his partner get to escape the routines of everyday life.

Adam Wiltshire Chair of the Finance, Audit & Risk Committee

Adam joined the Board on 28th April 2020 and is Chair of the Finance Audit and Risk Committee. He is a Chartered Accountant and member of the Association of Corporate Treasurers. Adam started his finance career with Price Waterhouse working in both audit and consultancy, before moving into industry, where he worked for National Grid for eighteen years. During this time, he had a range of roles including Finance Director of the gas distribution division and Group Treasurer. He also gained Trustee and non-executive experience as Chair of the National Grid UK Pension Scheme and of Aerion Fund Management. Adam’s ideal holiday involves a journey with a sense of freedom and adventure, exploring the world with his family by camper van, car or bicycle.

Kevin McGuirk

Kevin re-joined the Board in 2019, having previously been a Trustee until 2011/12, and is a member of the Finance, Audit & Risk Committee. A qualified Chartered Accountant and Board Director, he spent much of his early career with KPMG, working with clients on large business transformation projects in Europe, New Zealand and Asia, and ran their Telecom Consulting practice in Hong Kong. Since leaving KPMG, Kevin has held Regional Director Finance & Resources roles for Verizon Business in both Asia Pacific and EMEA, worked as COO for a fast-growing consulting business, as Commercial Director for a highly leveraged private equity owned SME, as well as European CFO for a medium sized multi-layer marketing organisation based in the Netherlands, and CFO of The Kennel Club in London. Kevin is a keen hiker and tennis player.

Catherine Fallon

Catherine joined the Board in September 2020. She has worked for 43 years in psychiatric nursing and social care in both England and Scotland where she latterly worked as a Managing Director for the Wheatley Group. Her experience lies in

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transforming care services for special needs groups through re-shaping organisations to achieve long term sustainability. Catherine, originally from Ireland, has lived in Glasgow since 1990 where she is the chairperson of the Mungo foundation and a member of the State Hospitals Board in Scotland. Her passions include football, tennis, and snooker. Her ideal holiday is either in Seahouses in Northumberland, or Tavira in Portugal; a place she has been visiting with her partner for many years.

Deborah Wheeler

Deborah, who joined the Board in September 2020, trained as a nurse at St Bartholomew's Hospital in London, spending her clinical career in orthopaedic nursing before moving into nursing management. She has been director of nursing at several NHS trusts in London and became Deputy Regional Chief Nurse for NHS England South Region. More recently she moved back to a Director of Nursing post at the North Middlesex Hospital in North London, before retiring from full time work at the end of 2019. She is a Florence Nightingale Foundation Leadership Scholar and received the Chief Nursing Officer’s Gold Award for lifetime achievement in 2019. Deborah has two adult sons and lives on the London/Essex border. She is a NonExecutive Director of East London NHS Foundation Trust (a mental health and community trust), and is a Trustee of the charity Epilepsy Society, in addition to Revitalise. Deborah is churchwarden for her local church, where she is also a service leader. In her spare time she is an avid crafter, making handmade cards which she sells to raise funds for the church.

Trustees who also served during the year to 31[st] January 2021 are:

Mindy Sawhney Former Chair of the Board of Trustees, retired 5[th] February 2020

Victoria Schneider Trustee, retired 12[th] March 2020

Mike Ashton Former Chair of the Brand and Commercial Development Committee, retired 2[nd] February 2021

Lesley Lindberg Former Chair of the Guest Quality Committee, retired 19[th] May 2021 Linda Beaney Vice Chair, retired 31[st] March 2021 Philip White Vice Chair, retired 31[st] March 2021

Senior Management Team

None of the following are directors within the meaning of the Companies Act.

At the date of signing of these accounts the senior team at Revitalise are:

Janine Tregelles Chief Executive Officer

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Andy Simons Director of Marketing and Fundraising

Kate McLeod Chief Financial Officer Rebecca Young Director of Strategy and Governance and Company Secretary

Patron

Samantha Cameron

Vice Presidents

Dame Judi Dench CH DBE Dame Esther Rantzen DBE Hugh Kemsley OBE Denis Green Tim Prideaux JP DL John Spence CBE DL The Rt. Hon. The Lord Crawshaw Arthur Smith Sir Andrew Buchanan Bt

Honorary Ambassadors

Dan Bentley

Dan has been involved with the sport of Boccia for over 12 years, being a member of the Paralympics GB team in London in 2012 and winning a gold medal at the Paralympics in Beijing in 2008.

Nick Skelton CBE

Nick’s incredible show jumping achievements include a team show jumping gold medal at the London 2012 Olympics, surpassed by an individual gold in Rio in 2016 – making him the oldest British Olympic gold medallist since 1908. Nick received an OBE for services to equestrian sport in 2012, later elevated to a CBE.

David Smith MBE

David is the joint most successful British Boccia player in history. He was a member of the British Boccia team that won a gold medal at the 2008 Summer Paralympics in Beijing. David competed in the 2012 Summer Paralympics in London, winning a team bronze medal and an individual silver medal. At the 2016 Rio Summer Paralympics, David won an individual gold medal.

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Advisers

Solicitors

Anthony Collins 134 Edmund Street Birmingham B3 2ES

Bankers

Barclays Bank 1 Churchill Place London E14 5HP

Statutory Auditors Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

Centres

Revitalise Revitalise Jubilee Lodge Netley Waterside Grange Farm Abbey Hill High Road Netley Abbey Chigwell Southampton Essex Hampshire IG7 6DP SO31 5FA

Revitalise Sandpipers Fairway Southport Merseyside PR9 0LA

Administration and Registered Office

Revitalise Respite Holidays 212 Business Design Centre 52 Upper Street London N1 0QH

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Thank you to all our supporters

Revitalise is very fortunate to be supported by many different individuals, trusts, local councils and companies. Our warmest thanks go out to all the kind individuals who have made generous donations to Revitalise and those who have arranged or participated in fundraising events on our behalf. We would also like to thank the following trusts, foundations, grant making bodies and companies for their generous support during the 2020/21 financial year:

Balcombe Charitable Trust

Barclays 100x100 UK COVID-19 Community Relief Programme

Broome Family Charitable Trust Bruce Wake Charity Calleva Foundation

Charles S French Charitable Trust

Derby & Derbyshire Disabled Soldiers Settlement

Epping Forest District Council

Eveson Charitable Trust Garfield Weston Foundation Jessie Spencer Trust

John James Bristol Foundation

Longleigh Foundation

Loppylugs & Barbara Morrison Charitable Trust

Millichope Foundation

National Lottery Community Fund

Newlands Fund

Peacock Charitable Trust

Queen Mary's Roehampton Trust

Richard Lawes Foundation Royal Air Force Benevolent Fund

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Royal Naval Benevolent Trust

Royal Navy & Royal Marines Charity

Sobell Foundation

Victoria Convalescent Trust

Weston-super-Mare Town Council

We also thank the many hundreds of volunteers who gave their time and energy, fun and compassion, through their work at the Revitalise Shops. It has been incredibly frustrating not to be able to welcome volunteers in our centres this year, but you are all, unquestionably, at the heart of the Revitalise magic.

Every donation helps more disabled people and carers to get the break they deserve and need.

To make a donation or find out more about the volunteering opportunities we offer, please visit www.revitalise.org.uk or telephone 0303 303 0147.

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Contents

ntents
Page
Chair’s Review 10
Chief Executive’s Review 13
Strategic Report 19
Trustees Report 23
Statement of Trustees’ Responsibilities 32
Independent Auditors’ Report 35
Statement of Financial Activities 39
Balance Sheet 40
Cash Flow Statement 41
Notes to the Accounts 42 to 60

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Chair’s Review

What an extraordinary year; my first year as Chair of Revitalise. Like so many of the team, I joined the charity because I passionately believe in the enormous impact of breaks and holidays for disabled people and their families. I have seen first-hand the incredible outcomes delivered by regular access to breaks, from reducing loneliness and isolation, to improving mental health and wellbeing and heartbreakingly, sometimes also preserving life.

Revitalise goes beyond what can be described as traditional ‘respite’ care, offering our guests a proper holiday experience, filled with activities, excursions, entertainment, fun and laughter, supported by 24-hour care and an army of brilliant volunteers from all over the world. With a new Chair and Chief Executive as of January 2020, the start of the year was filled full of discussions about developing a new strategy to broaden Revitalise’s reach and impact across the UK and futureproof the charity for the next 60 years.

Within six weeks, COVID-19 hit the UK and it quickly became clear that the potential impact on society, on Revitalise’s guests and on the charity’s ability to survive was significant. The Board and Executive were faced with the difficult decision to suspend our usual holiday operation, much to the concern and dismay of our colleagues and guests.

At the same time, we saw the crisis caused for disabled people and their families by the closure of so many essential services as resources were re-directed to support the Health Service. We were determined to ensure that we could support them throughout the crisis and play our part in reducing the strain on the NHS. Accordingly, the Board laid out a three-phased approach to the future: survival, rebuilding and growth – reflecting our desire to safeguard the charity whilst also continuing to look to the future and develop our new 3-year strategy,

To that end, our Jubilee Lodge and Netley Waterside House centres were quickly repurposed as Step-Down services, taking patients from four London hospitals and two hospitals in the South West, to free up beds and support people to return home, whilst our Sandpipers centre began to offer emergency respite to those in desperate need of a break. Concurrently, we began a large strategy research project, aimed at understanding the current and future needs of Revitalise guests and to assist us in shaping the future as we emerged from the crisis.

By July, our survival plans were dealt a blow when Public Health England updated its guidance to require a 14-day isolation period for anybody entering a care setting from the community. These were blanket guidelines which made no specific reference to respite and essentially prevented disabled people and carers at breaking point from seeking specialist respite breaks, in turn threatening Revitalise’s existence.

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Our response was to advocate for disabled people and carers in the strongest terms by launching our Care for Carers campaign, with a dual aim of raising awareness of the desperate plight of those we support and generating £1m to support people to access respite at our centres. The campaign was hugely successful, and I am delighted to enclose its achievements within the Strategic Report.

In November of 2020, Revitalise was once again given the opportunity to support the NHS, by turning Netley Waterside House into the first of Hampshire’s ‘Designated Settings’, taking non-acute COVID-19 positive patients from local hospitals in order to free up beds for acute care. This entailed a huge training exercise amongst our teams and heightened procedures for managing the very real risk of a COVID outbreak within the centre.

Within weeks of the first COVID-19 patients arriving, the tables turned once again when our insurers declined to continue indemnifying the Designated Setting and no other private insurer would take the risk. This became a sector-wide issue which essentially left Designated Settings across the UK, set up at the Government’s request, uninsured! Once again, we campaigned in the strongest terms, pressuring the Government on behalf of the sector. The campaign culminated in a slot on BBC News as well as national coverage and ultimately, insurance indemnity provided by the Government to all Designated Settings providers across the country.

At the time of writing, Revitalise continues to support the NHS via our Step-Down services and private guests through Emergency Respite. With the vaccination programme continuing apace, we are now turning our attention to the future and to providing holidays once more. Our strategy research has told us of the incredible need for specialist holiday provision and the challenges that disabled people and their carers face in taking breaks and we are determined to meet these through our new organisational strategy and three-year plan.

This will include a large-scale refurbishment of our centres to create short breaks centres of excellence in their local communities, an ambitious new fundraising strategy which will include a significant capital fundraising campaign and the development of a new Quality Practice Framework, grounded in impact, to ensure outstanding experiences are at the heart of our guest experience.

I am absolutely delighted that we were able to confirm Jan Tregelles, previously our Interim Chief Executive, into the permanent role this year. Jan’s huge experience in supporting people with disabilities, her energy and her dedication to creating a more inclusive society are a perfect fit for Revitalise.

There are always so many people to thank, but never more so than this year. My enormous gratitude goes to everyone who has contributed to preserving and steering Revitalise through 2020’s challenges but in particular to the Board of Trustees, who rallied so brilliantly to support the charity and who ensured that every decision taken had our guests at its heart, to the Executive team for their incredible resilience, tenacity and determination in ensuring the charity’s survival and to all of my Revitalise colleagues who have remained steadfast in their determination to enable so many disabled people and their families to have a safe and relaxing haven in our centres.

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I would also like to thank outgoing Trustees and Vice Chairs Linda Beaney and Philip White who both retired in 2021 after an incredible 13- and 12-years’ service respectively, Mike Ashton, former Chair of the Brand & Commercial Development Committee who retired in February after 6 years and Lesley Lindberg, former Chair of the Guest Quality Committee who resigned in May after 4.5 years. Finally, our enormous thanks and gratitude go to Tim Prideaux, former Chair of the Enterprises Committee, who retired in March after more than two decades of service to the charity, including a period as our Chief Executive. Tim, the charity owes you so much and we are delighted that you remain one of our Vice Presidents.

So, to the future and to many more years of magical Revitalise holidays for all those who need us,

George Blunden Chair of the Board of Trustees 8[th] July 2021

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Chief Executive’s Review

It gives me great pleasure to submit my Chief Executive’s Report for the 2020 financial year and as our Chair has said, what a challenging year it has been. We have all felt the seismic impact of the COVID-19 pandemic, but for the most vulnerable in society including many of Revitalise’s guests, it has been devastating. The Emergency Coronavirus Act, passed in March of 2020, has allowed Local Authorities to downgrade duty of care responsibilities towards disabled and elderly people. Desperate families have been stripped of vital home and community support at a time when they have needed it most. Day centres have closed, in-home support reduced, and millions of disabled people and carers have had to shield for as much as 12 months, with little contact with the outside world.

The result has been that disabled people have been more likely to be lonely, worried about the pandemic and anxious. A much greater proportion of disabled people have reported the deterioration of their mental health during this period than nondisabled people. The explanation that many COVID-19 deaths arise from underlying health conditions – intended as a reassurance to the majority – has left many disabled people feeling frightened and othered.

In addition, disabled people have been among the hardest hit in terms of deaths from the virus. The ONS’s findings show that 6 out of 10 people who have died with COVID-19 have been disabled. This is a truly shocking statistic.

There has been much rhetoric from the current Government about ‘Building Back Better’ and levelling up society; however, the Chancellor’s March 2021 Budget yet again failed to set out any long-term plan for social care. Whilst the February 2020 Health and Social Care White Paper stated that the Government would bring forward ‘proposals’ later in the year, it has been making such pledges since promising that a Green Paper would be published by the end of 2017. Without such plans, disabled people will continue to endure discrimination, exclusion, hardship and isolation. This is unacceptable and Revitalise will continue to play our part in advocating for our guests in the strongest terms.

I am incredibly proud of what has been achieved at Revitalise this year, in the most difficult of circumstances. Whilst navigating a fast-paced external environment, we have also focused intensively on building the charity’s core infrastructure to ensure that Revitalise emerges from the pandemic a robust organisation, ready for a new and ambitious strategy. We have updated all of our internal policies and procedures and reviewed and enhanced our Governance arrangements substantially including new processes, a Trustee induction and training programme, Trustee, Board and Committee performance reviews and regular skills audits to ensure the right balance of skills at Trustee level. All of our reporting across the Committees has been significantly improved to ensure appropriate visibility and assurance measures to support best-in-class Governance arrangements. We have also comprehensively reviewed our risk register to ensure it reflects the key strategic and operational risks of the current time and implemented a new system for monitoring and responding to risk.

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Following the difficulties at Netley in 2019, we conducted a major safeguarding review and have improved safeguarding arrangements across the charity. This includes the establishment of a Safeguarding Forum, the appointment of a Lead Trustee for Safeguarding and delivering training for all Trustees and senior leaders, as part of our commitment to establishing safeguarding as ‘Everybody’s Business.’

People have been a key focus of this year. Whilst supporting our teams with wellbeing and wellness programmes, we have also conducted a substantial review of our People arrangements, the recommendations from which will form the basis of our new People Strategy in 2021. This has been accompanied by a significant internal listening project, ‘The Big Listen’, to understand colleagues’ experience of working at Revitalise and identify how we can ensure that our people are at the heart of everything we do.

We successfully reopened Netley to support the NHS’s efforts, training our teams to run an entirely different service from our usual holiday operation with the added challenge of new and rigorous infection control practices. When subsequently asked to open Hampshire’s first Designated Setting and one of the first in the UK, we again retrained all of our teams and repurposed the centre to care for COVID-positive patients! Our appearance on BBC news as we lobbied for the Government to indemnify Designated Settings was an incredible achievement for any charity, let alone one of our size, as was the achievement of that insurance on behalf of the whole sector.

We have also conducted Revitalise’s first major research project to support our strategy redevelopment. This has entailed engaging with disabled people and carers across the UK, seeking their views about the barriers they face to taking a break and the types of breaks and holidays they need and want. We have also engaged specialist support, generously funded by The Balcombe Trust, to begin to develop a new Theory of Change and Impact Measurement Framework for Revitalise, which will continue in 2021 as part of the strategy redevelopment process.

We are extremely pleased to have provided responsive advocacy for guests throughout the year, supporting people experiencing difficulty with accessing their statutory entitlements to realise their rights and have their funding restored. This is a major departure for Revitalise, as was the establishment of a temporary befriending service via our Bookings team, to provide support and contact to guests shielding at home, alone.

In our services, it has been incredible to see the outcomes we have supported. Some of our guests have come to Revitalise in the most desperate of circumstances and we have worked with them to reduce their sense of isolation, fear of COVID-19 and to assist them in building relationships and accessing the local community once more. We are humbled by the trust they have placed with us at some of the most difficult moments in their lives.

2020 has been a challenging financial year for Revitalise, as it has been for charities and businesses across the UK. Despite this we were able to finish the year with a surplus of £890k. This was achieved through a hugely generous legacy from the

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Trustees of the Newland’s Fund and a combination of rigorous cost control, our successful Care for Carers £1m fundraising campaign, our Local Authority contracts, without which we would have had to close our centres, and our amazing shops, which have bounced back from every lockdown and which are truly at the hub of their local communities.

We continue to be amazed by the incredible generosity of our donors and supporters, all of whom helped disabled people and carers to enjoy breaks with us this year. Thank you to everyone who raised funds for us in 2020 and in particular to the Trustees of The Garfield Weston Foundation, whose grant of £300,000 helped so many disabled people and carers in crisis to access respite at our centres throughout the pandemic.

My thanks to everyone who has so tirelessly supported us this year – my colleagues, our volunteers, supporters, partners, and of course our guests – you are all the beating heart of Revitalise.

Janine Tregelles Chief Executive Officer 8[th] July 2021

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Hear from the people who have benefited from a Revitalise break this year

People like Grace and her husband Andrew

Grace is 30 years old and has various disabilities and a congenital heart defect. She is currently waiting for surgery. All of this has affected her wellbeing and mental health. Her husband Andrew had a motorbike accident 13 years ago which resulted in a brain and spinal injury. They live at home but need support to enable them to do this. Grace tells us her story:

“It’s been very difficult having my physical health decline and I haven’t been able to do the things I used to enjoy. It’s very important to us that we keep independent. We are fortunate enough to have carers that come in and help.

We have family that live nearby, and they provide emotional support because it can be difficult living with chronic disability. Sometimes I wake up and I feel so depressed because I’m in pain.

Since I became unwell a lot of things in my life have changed. I have felt quite isolated as I’m unable to go into work anymore, and I’m not able to get out of the house very often.”

The impact of COVID-19:

“The coronavirus pandemic has had a big impact on my life really. When the pandemic started, I was alerted that I was high risk, so I had to start shielding at home. I became very isolated and depressed because I couldn’t go out at all. My mental health team were no longer able to come to my home, previously I’d seen them once or twice a week. Another barrier that me and my husband faced was struggling to get food and access to things that we needed because we couldn’t go out. It was quite a stressful time, and we didn’t know where to turn.”

The impact of access to a safe respite break:

Grace stayed at Sandpipers, our centre in Southport for 8 weeks, from April through to June.

“Since the day I arrived at Sandpipers I just felt like a huge weight had been lifted. I was so alone at home and coming here I’m surrounded by wonderful staff and other guests, who I can spend time with and socialise.

There’s been an excellent programme of activities each day to keep us occupied and I’ve enjoyed doing the arts and crafts, that’s just been wonderful. I really feel that I’ve made some friends for life during my time here and I just don’t know what

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I’d have done if I hadn’t been able to come. During this time, I really feel Revitalise has been a lifeline for me, and all the staff have helped me get through this period of lockdown and I’m really grateful, thank you.”

For people like Simon, it is a vital lifeline

Simon is a wheelchair user living with cerebral palsy. He spent much of his childhood moving around the UK, as his father was in the RAF. “I dreamed of following in my father’s footsteps,” he says. However, being at school was a considerable challenge for Simon, and as he got older, he struggled more and more with his mobility.

After his parents passed away, his younger sister moved in to take care of him. Although they have a close relationship, as well as providing for Simon’s care needs, his sister also has a young son to look after. Each day is relentless and exhausting, and the unchanging routine has put their relationship under strain.

“I have found it much harder as an adult with a disability to make new friends, and it can be lonely.”

After months of shielding, the family reached a breaking point. Unable to go out, and with the loss of his independence, Simon’s mental health drastically deteriorated.

“I wanted to kill myself. I can’t get out and enjoy myself as other people can.”

The whole family needed a break. At a crisis point, Simon was able to visit our Sandpipers Centre.

Taking a break with Revitalise has helped him to build connections, feel supported and included. He’s found a place where he can belong.

“I don’t feel like a guest. I feel like part of the family.”

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Public benefit This year we have provided financial assistance totalling over £875,000 to subsidise the cost of breaks for our guests. Access to funding for a break is a critical issue for disabled people after many years of cuts to social care funding. We are determined to make a break as financially accessible as we can, for as many people as we can.

Over £550,000 of this funding was specifically to support people who needed somewhere safer during the pandemic, who could not access safe support at home, or who were at breaking point from the months of isolation and shielding. The balance was used to provide funding for a break by application for those guests in financial need, or to offer reductions to attract those less able to pay.

In total 967 breaks were provided with some form of financial subsidy applied.

Strategic Report

Review of Activities in the Year

Achievements in 2020:

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take place and worked with our insurers and legal advisors to launch an innovative and safe alternative solution, using a mix of regular testing, temperature checks, and infection control measures to reduce the isolation requirement.

Strategy Redevelopment

In 2020, following the change in Chair and Chief Executive Officer, the Board commissioned a major review of the charity’s position and redevelopment of the three-year strategic plan. This review recognised the changing external environment and the need for the charity to evolve in order to achieve long-term sustainability.

Following a substantial research project across the autumn of 2020, Revitalise learned that:

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Work to redevelop the strategy continues and it is anticipated that this will be approved by the Board of Trustees in the summer of this year.

Re-opening of Netley Waterside House

In 2019 we reported the challenges experienced at Netley Waterside House including a number of safeguarding incidents, which led to Revitalise voluntarily closing the centre on a temporary basis in October 2019. Under the new Chief Executive Officer, Jan Tregelles, a rapid improvement plan was put in place to step change quality. This led to Waterside House re-opening in March 2020 to support the NHS by taking StepDown patients from local hospitals, thus freeing up space for patients acutely unwell with COVID-19.

Any and all restrictions on the centre operating have now been lifted. The most significant impact of the closure was the loss of income, which was notified to the Charity Commission in line with our reporting obligations. We thank all of the statutory agencies in Hampshire for their support and faith in us during this time.

In November, Waterside House became the first ‘Designated Setting’ in Hampshire, taking non-acute COVID-positive patients from local hospitals, thus freeing up beds for those who were acutely ill. In addition, the centre supported the NHS across the autumn with a new ‘Step-Down’ contract, working with eight agencies across Hampshire. This was a remarkable turnaround, and we look forward to the centre continuing to go from strength-to-strength, in particular as we look to upgrade our environments in preparation for returning to holidays.

Future Plans

Emerging from COVID-19

The COVID-19 crisis has been challenging for Revitalise, as it has for the majority of the charity sector, but the successful adaption of the charity’s operations, marketing, fundraising and communications efforts have mitigated a substantial degree of the impact we would otherwise have felt. At the time of writing, Revitalise continues to provide a combination of respite care and Local Authority contracts; however, with the success of the vaccination driving COVID-19 cases and deaths downwards and the Government’s roadmap out of lockdown advancing, we are looking to the future and to the ability to deliver our amazing holidays once more.

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Reshaping the future

The principle focus of the Executive team in 2021/22 is the redevelopment of the corporate strategy and enabling strategies. At the time of writing, workshops are taking place across the charity to review Revitalise’s core offering and how it might be adapted to meet the needs of our audience now, and over the coming decade.

At the core of the strategy work is the creation of a new Theory of Change and Social Impact Framework for Revitalise to ensure that impact remains at the heart of all of the charity’s activities. The strategy is being co-produced with colleagues across the organisation and with disabled people and their families. It is our ambition, in the future, that co-production will be at the heart of all of Revitalise’s activities. In addition, a new Vision, Purpose and Values for Revitalise are currently in development.

Regional Centres of Excellence

A key pillar of the new strategy will be the transformation of all three of Revitalise’s centres, re-envisioning the future and creating three exemplary ‘short breaks’ centres across the UK. These buildings will provide the regional hub headquarters for the organisation and will demonstrate to UK businesspeople, government and the general public the possibility of providing ‘hotel’ accommodation without the trappings of exposed disabled support equipment and systems. The buildings will inspire others, demonstrate how buildings can be designed to be ‘flexible’ and meet a range of people’s needs using technology and creativity. The buildings will also be a place that people can visit to understand and engage with us more fully through offering our building resources to the wider community, to ensure we at Revitalise contribute to removing the isolation of disability for individuals and carers.

The impact of COVID-19 on our finances and the scale of our ambitious plans for our centres necessitate a major capital fundraising campaign to fund the redevelopment work and this will be a significant focus for the fundraising team across 2021.

Investing in people

People are at the heart of Revitalise and 2021 will see the development of our People Strategy, building on the investment already made in our colleagues in 2020. Our priorities in this regard are to shape organisational capabilities and ensure that processes are developed to support our colleagues which fully reflect our values and ambitions.

Raising awareness

Our strategy redevelopment research has told us that awareness of specialist holiday provision for disabled people and their families is extremely low across the UK. This is a significant barrier to people accessing breaks and holidays and our new strategy will seek to address this both through our own marketing and campaigning and via

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partnerships within our sector. We are determined that no disabled person should face barriers to escaping, relaxing and having fun on holiday.

Trustees’ Report

The Trustees, who are also Directors of the charity for the purposes of Company Law, present their Annual Report and Financial Statements for the year ending 31st January 2021. The Annual Report serves the purposes of both a Trustee Report and a Director’s Report under Company Law.

Objects and Public Benefit

Our objects are to promote the welfare and rehabilitation of physically disabled persons and promote other charitable purposes.

Our vision So much of life is other people. And disability can so often get in the way of having the energy and opportunity to create and look after those relationships which matter so much. We’re here to offer those opportunities – filled with fun, new experiences, fresh faces – and the security of 24-hour care in environments that are fully – and invisibly - accessible.

Our mission We are the people who create revitalising holidays for disabled people and carers – everything you’d expect from a holiday backed up by excellent nurseled care and an army of brilliant volunteers to get the party started – and keep it going.

Our services are the provision of short breaks for people with disabilities and carers at our accessible centres, offering on-call 24-hour care, personal support and a choice of activities and excursions. Short breaks are run from Revitalise Jubilee Lodge in Essex, Revitalise Netley Waterside House in Southampton, and Revitalise Sandpipers in Southport.

Our partnerships enable us to work with others to achieve our aims, as this contributes both to service relevance and to the cost-effective realisation of our purpose. We have active working relationships with a number of organisations, including the Multiple Sclerosis Society, Newlands Fund, Simplyhealth, the Stroke Association and Dementia Action Alliance, all of which are designed to make our services more accessible to the people who will most benefit from them.

Our public benefit can be measured first by the number of people with disabilities to whom Revitalise provides essential services, together with their carers; second, the inspirational opportunities we offer to volunteers; and third, the financial assistance we provide to help those in financial need.

The Charity Commission’s general guidance on public benefit is referred to by the Trustees when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider that the new planned activities will contribute to the aims and objectives that have been set.

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Structure, Governance and Management

The Charity is governed by its Memorandum and Articles of Association, which were last amended in 2020.

Board of Trustees

The Board of Trustees (“the Board”) is responsible for the overall governance of the Charity. Trustees are appointed and although the number of Trustees is currently limited to 20, it is within the power of the Board to amend this figure if appropriate. Trustees serve for an initial term of three years, after which they can be elected by the Board to serve for a further two terms of three years each. In exceptional circumstances, they may serve for another period beyond the nine-year term, with the length to be agreed by the Board and to be no more than 3 years.

Board meetings take place 4 times a year. The Board normally meets with the Charity’s Senior Management Team, but it also has closed sessions. It is the responsibility of the Board to develop organisational strategies in partnership with the Senior Management Team and to review operational performance, to set budgets and approve operating plans. New Trustees who join the Board receive an induction to help them understand the work of the Charity and the environment in which it operates. This aids effective and informed decision-making.

The Board delegates the exercise of certain powers in connection with the management and administration of the Charity. This is controlled through regular reporting back to the Board so that the Trustees can oversee all decisions made under delegated powers. The Committees and individuals to which the delegation takes place are shown below.

The Board delegates powers to the following Committees and individuals.

• Finance, Audit & Risk Committee

The Finance, Audit and Risk Committee comprises at least three Trustees, together with up to three co-opted members, and is attended by the Chief Executive and the Chief Financial Officer along with other staff members as necessary. Its role is to provide the Board with impartial advice on the effectiveness of the Charity’s financial performance, risk and control arrangements. It provides scrutiny of the Charity’s systems and processes, ensuring that these are robust and fit for purpose and ensures that risks are catalogued, along with their control systems, investigating on behalf of the Board, anything that threatens or adversely affects the accomplishment of the Charity’s aims and objectives.

• Brand & Commercial Development Committee

The Brand & Commercial Development Committee comprises at least two Trustees, together with up to one co-opted member, and is attended by the

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Chief Executive, the Chief Financial Officer and the Director of Marketing and Fundraising. Its role is to review income generation, communications and marketing plans, to support the Senior Management Team in developing new income generation, marketing and communications initiatives and to monitor subsequent performance. In addition, the Committee is responsible for reviewing industry trends, seeking new commercial opportunities and exploring innovations that have the capacity to generate income for the Charity.

• Guest Quality Committee

The Guest Quality Committee comprises at least three Trustees, together with up to one co-opted member and is attended by the Chief Executive, Director of Quality (commences in post in the autumn of 2020) and the Chief Operating Officer. Its role is to ensure Revitalise puts the guest experience, which is a combination of high quality and safe care and excellent hospitality, at the heart of the service we offer, to assure the Board that the organisation is compliant with all regulatory and legal matters in relation to guest experience, and to ensure that the Charity has all the necessary systems and processes in place to effectively deliver quality throughout the guest experience.

• People Committee

The People Committee comprises at least two Trustees together with the Chief Executive, Chief Operating Officer, Chief Financial Officer and the Senior HR Officer. The Committee is responsible for setting and monitoring the organisation’s people strategy, ensuring that pay policies are fair and competitive so that the Charity attracts and retains colleagues with the right talent and skills, and making certain that the Charity has the right Trustees and senior leaders to govern, lead and deliver objectives. In setting pay, the Committee considers available market information, the performance of the Charity in achieving its financial objectives, and statutory obligations such as National Living Wage. In addition, the Committee maintains a strategic overview of people issues and organisational development across the Charity.

• Enterprises Committee

The Enterprises Committee was formed after the activities of Revitalise Enterprises Limited (REL) were transferred to Revitalise Respite Holidays Limited in mid-2018. All members of REL are now members of the Enterprises Committee. The Committee oversees all the activities of the shops and bars. In 2020, on the announcement of the retirement of the Committee’s Chair, Tim Prideaux, the Enterprise Committee became part of the Brand & Commercial Development Committee with a shared Terms of Reference.

• Portfolios

There are agreed portfolios whereby individual Trustees act as a gateway for Revitalise expertise on key areas. Portfolio holders are able to convene working

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groups, when needed, in consultation with the Chair. There are currently no portfolios.

• Chief Executive

The Chief Executive is responsible for the day-to-day management of the Charity’s affairs and for implementing policies agreed by the Board. The Chief Executive is assisted by a Senior Management Team and other staff.

• Senior Management Team

The Senior Management Team assists the Chief Executive and carries out the day-to-day management of the Charity’s affairs and implements policies agreed by the Board. It is comprised of the Chief Operating Officer, the Chief Financial Officer, the Chief Operating Officer, the Director of Marketing and Fundraising and the Director of Strategy and Governance.

Group structure

The Charity has a wholly owned subsidiary company, Revitalise Enterprises Limited, which ceased trading on 31 January 2017. On 1[st] February 2017, all its assets and activities were transferred to the parent charity, Revitalise and the company is now dormant. Previously Revitalise Enterprises Limited carried out non-charitable trading activities to raise funds, donated under Gift Aid, to the Charity.

Financial Review

Financial performance

The financial statements for the year show a surplus of £890k compared with a deficit of £472k a year earlier, supported by a very welcome donation from the Newlands Trust. Income was £10,599k up from £9,781 in 2020. Expenditure in the year was £9,714k down from £10,204k in 2020.

Outlook

2020/21 was a challenging year. The impact of COVID 19 led to temporary changes to our offering to guests, which is described above. We were able to support the NHS by offering our Centres as step down services for several hospitals, as well as offering respite breaks to guests. Our shops were closed for much of the year, with the loss of income partially offset by Covid grants. The financial impact of the pandemic was further offset by the receipt of trust income of £2.5m from The Newlands Trust which has been reflected in the financial statements. As the country reopens, we are increasing the number of guests we are welcoming into our Centres as well as looking at our longer-term operating model.

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Sources of Revenues and Use of Expenditure

Our sources of revenues and use of expenditure are as follows:

Reserves Policy

The Charity needs reserves so that it can continue its operations in the event of an unforeseen shortfall in income or increase in costs. This is important in order that we can continue to support our guests and their carers, whilst also moving forward our long term project to add additional Revitalise centres. The Charity also requires reserves in order to cover potential timing differences between the receipt of its revenues and its expenditure, which is largely fixed in nature.

Looking at the historical and budgeted cash flow trends, the Charity considers that a policy of maintaining unrestricted reserves equivalent to its expenditure on charitable activities for a period of at least 3 months is appropriate; for this year this equates to a minimum reserve target of £2.1m. Unrestricted working capital funds at 31[st] January 2021 were £3.1m, which equates to approximately 4.4 months of expenditure cover. The Trustees will continue to monitor both the reserves target and actual reserves level.

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Reserves at 31 January were:

Restricted funds
Other restricted
funds
Unrestricted funds
Fixed assets
Working capital
Total reserves		 2021
2020
£000
£000
1,327
1,173
1,327
1,173
3,269
3,312
3,100
2,321
6,369
5,633
7,696
6,806

Investment Policy

The Charity has placed no cash into investments since 2010 and all funds are held as cash in current or deposit accounts.

Fundraising policy

With a policy of pricing its breaks at or below the cost of providing its services, Revitalise looks to its fundraising activities to finance both its support for guests who cannot afford a break, and the further development of its existing and proposed new centres.

Revitalise is registered with the Fundraising Regulator and follows its Code of Fundraising Practice.

Revitalise carries out fundraising activities itself and does not utilise the services of any professional fundraising organisations. Revitalise fundraising comes from:

The Revitalise approach to fundraising is to build long term relationships with supporters and not to make requests that are unreasonably persistent. In keeping with its fundamental activity of providing services to disabled people, Revitalise takes great care to ensure that it does not seek donations from vulnerable people. This approach is supported by the Revitalise Fundraising Promise:

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It is very rare for Revitalise to receive a complaint about its fundraising activities. In fact, we received no complaints in 2020/21. Should a complaint be received, it would follow our Complaints Policy, which in summary is:

Risk Management and Internal Control

Revitalise maintains a comprehensive Risk Register. This register is the principal tool for the management of risk and the Finance, Audit and Risk Committee monitors the key risks identified.

The principal risks facing the Charity are:

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Changes were made to the operating model to provide protection to guests and colleagues. Government support in the form of the Job Retention Scheme and grants to retail outlets were obtained. Regular financial reforecasts have been reviewed by Trustees

As part of this risk management process, the Trustees acknowledge their responsibility for the Charity’s system of internal controls and for reviewing its effectiveness. Their response to these risks is stated in the Reserves Policy above.

Staff and volunteers

Staff

Revitalise is working towards being an employer of choice for our staff. As a service provider, our employees are the heart of what we do. We expect from them a commitment to our charitable mission and high levels of performance. In order to achieve this, we try to ensure that employees are kept informed about the Charity’s strategy and objectives. We do this through many channels, including a staff newsletter, an online meeting forum called The Big Conversation which is chaired by the Chief Executive, as well as day-to-day news and events. As part of the strategy redevelopment process, the Chief Executive and Director of Strategy and Governance have been conducting roadshows across the country to directly involve all colleagues in hearing what our guest research has told us, and to work with us to shape the charity’s future.

Revitalise strives for equal opportunities and has policies and procedures in place to ensure that recruitment and promotion are based on aptitude and ability without discrimination. The Charity is committed to the training and career development of

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all employees, including the continued employment and retraining of employees who become disabled whilst employed by the organisation. An individual’s personal and professional development is assisted through annual appraisal and supervision. Training programmes are provided to meet on-going needs, with the aim of developing employees for both their current and future roles. Staff are rewarded for gaining relevant qualifications.

Volunteers

Volunteers continue to play a critically important role at Revitalise. During the pandemic, we have been unable to welcome volunteers at our centres, but they have played a vital role in our charity shops. We look forward to welcoming them back to our centres as the vaccination programme progresses and domestic and international travel re-opens. Guests in our centres tell us that volunteers add a significant additional element to their breaks. Volunteers also hold fundraising events and support us in countless other ways. It is not possible to monetise the contribution of volunteers – but to our guests, they are priceless. To that end, our new People Strategy will also include a new Volunteer Strategy.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Revitalise Respite Holidays for the purposes of company law) are responsible for preparing the Trustees’ report, the strategic report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company, and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company

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and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31[st] January 2021 was 11. The Trustees are Members of the Charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the group or the Charity.

Auditors

haysmacintyre LLP are the Charity’s auditors.

The Trustees’ Report and the Strategic Report are hereby approved. By order of the Board of Trustees

Rebecca Young Company Secretary 8[th] July 2021

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Independent Auditors’ Report to the Members of Revitalise Respite Holidays

Opinion

We have audited the financial statements of Revitalise Respite Holidays for the year ended 31 January 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

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The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 32, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the use of restricted funds, care quality compliance and compliance with employment law, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities SORP.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to depreciation charges. Audit procedures performed by the engagement team included:

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accounting estimates. These related to depreciation and the pension deficit funding liability.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor

…………………………………………2021 8 July

10 Queen Street Place London EC4R 1AG

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REVITALISE RESPITE HOLIDAYS

STATEMENT OF FINANCIAL ACTIVITIES (SOFA)

FOR THE YEAR ENDED 31 JANUARY 2021

Un- Un-
restricted Restricted Total restricted Restricted Total
Funds Funds 2021 Funds Funds 2020
Notes £’000 £’000 £’000 £’000 £’000 £’000
INCOME AND ENDOWMENTS
FROM:
Donations and legacies 2 3,687 780 4,467 1,696 395 2,091
Charitable activities: 1g 5,537 - 5,537 6,578 - 6,578
Other trading activities 590 - 590 1,088 - 1,088
Investment income 5 - 5 24 - 24
Other income -
───────── ──────── ─────── ───────── ──────── ─────────
Total income 9,819 780 10,599 9,386 395 9,781
───────── ───────── ─────── ───────── ──────── ─────────
EXPENDITURE ON:
Costs of raising funds 322 - 322 336 - 336
Charitable activities 7,928 626 8,554 8,495 279 8,774
Other trading activities 838 - 838 837 - 837
Business Development Costs 3i - - - 257 - 257
───────── ───────── ─────── ───────── ──────── ─────────
Total expenditure 3,4&5 9,088 626 9,714 9,925 279 10,204
───────── ───────── ─────── ───────── ──────── ─────────
NET (EXPENDITURE)/INCOME
BEFORE GAINS/(LOSSES) ON 731 154 885 (539) 116 (423)
INVESTMENTS
Net gains/(losses) on investments - - - - - -
───────── ───────── ─────── ───────── ──────── ─────────
NET (EXPENDITURE)/INCOME 731 154 885 (539) 116 (423)
Transfers between funds
───────── ───────── ─────── ───────── ──────── ─────────
Other Recognised Gains and
Losses
Gains/(losses) unrealised loss on 5 - 5 (49) - (49)
investments
───────── ───────── ─────── ───────── ──────── ─────────
NET MOVEMENT IN FUNDS 736 154 890 (588) 116 (472)
RECONCILIATION OF FUNDS:
Fund balances brought forward 5,633 1,173 6,806 6,221 1,057 7,278
At 1 February 2020
Fund balance carried forward ───────── ───────── ─────── ───────── ──────── ─────────
At 31 January 2021 15,16 6,369 1,327 7,696 5,633 1,173 6,806
========= ========= ======= ======== ======== ========

There were no other recognised gains or losses, other than the above.

The accompanying notes are an integral part of this statement of financial activities.

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REVITALISE RESPITE HOLIDAYS

BALANCE SHEET

FOR THE YEAR ENDED 31 JANUARY 2021

Company Number: 2044219

2021 2020
Note £’000 £’000
FIXED ASSETS
Tangible assets 9 3,234 3,310
Investments 10 35 2
────────── ──────────
3,269 3,312
CURRENT ASSETS
Stocks 11 18 23
Debtors 12 362 1,624
Bank deposits and cash 13 4,948 3,215
────────── ──────────
5,328 4,862
LIABILITIES
Creditors: Amounts falling due within one year 14 (781) (1,213)
────────── ──────────
NET CURRENT ASSETS 4,547 3,649
────────── ──────────
TOTAL NET ASSETS LESS CURRENT 7,816 6,961
LIABILITIES ────────── ──────────
Creditors – amounts falling due after more than one 14 (120) (155)
year
────────── ──────────
Total net assets 7,696 6,806
========== ==========
THE FUNDS OF THE CHARITY
Restricted funds 15 1,327 1,173
Unrestricted funds
Fixed assets 16 3,269 3,312
Working capital 16 3,100 2,321
────────── ──────────
6,369 5,633
────────── ──────────
TOTAL CHARITY FUNDS 7,696 6,806
========== ==========

The financial statements on pages 39 to 59 were approved by the Board of Trustees on 8 July 2021 and authorised for issued and are signed on their behalf by:

George Blunden Chair

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REVITALISE RESPITE HOLIDAYS

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 JANUARY 2021

2021 2020
£’000 £’000
CASH FLOWS FROM OPERATING
ACTIVITIES
Net cash used in operating activities 1,865 (1,095)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interest and rents from investments 5 24
Purchase of investments (28) (52)
Purchase of plant, plant and equipment (110) (425)
Disposal of fixed asset 1 282
────────── ──────────
Net cash (used in)/provided by investing (132) (171)
activities ────────── ──────────
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of borrowings - (15)
────────── ──────────
Net cash used in financing activities - (15)
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING
PERIOD 1,733 (1,281)
Cash and cash equivalents at the beginning of
the reporting period 3,215 4,496
Cash and cash equivalents at the end of ────────── ──────────
the reporting period 4,948 3,215
========== ==========
2021 2020
£ £
Reconciliation of net income to net cash
Flow from operating activities:
Net income from the reporting as per the
Statement of financial activities 890 (472)
Adjusted for:
Depreciation charge 186 125
Dividends, interest and rent from investments (5) (24)
(Gains)/losses on investments (5) 49
Decrease in stocks 5 3
(Profit)/ loss on the disposal of fixed assets (1) -
Decrease /(Increase) in debtors 1,262 (785)
(Decrease)/ Increase in creditors (432) 54
Decrease in defined benefit pension scheme liability (35) (45)
────────── ──────────
Net cash (utilised) by operating activities 1,865 (1,095)
========== ==========

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REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

1. ACCOUNTING POLICIES

A General information

Revitalise Respite Holidays is a private charitable company limited by guarantee incorporated in England (company number 2044219, charity number 295072). The registered office and principal place of business is at 212 Business Design Centre, 52 Upper Street, London N1 0QH.

The charitable company’s principal activity is creating revitalising holidays for disabled people and carers – everything you’d expect from a holiday backed up by excellent nurse-led care and an army of brilliant volunteers to get the party started – and keep it going.

B Basis of accounting

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the requirements of the Companies Act 2006 and under the historical cost convention, except as modified for the annual revaluation of fixed asset investments. Within the definitions of FRS 102, the charitable company is a public benefit entity. The financial statements have been prepared in accordance with the accounting policies set out in more detail below, to comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association of the charitable company, and Accounting and Reporting by Charities: the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2020). Figures are presented in sterling and rounded to the nearest pound.

C Going concern

The Charity’s activities, current financial position, and factors likely to affect its future are set out in the Trustees’ report. The Trustees are aware that the Covid-19 pandemic creates significant uncertainties for the organisation. To manage these uncertainties, the Trustees have modified the Charity’s operating model, changing the way in which services are delivered, offering emergency respite care rather than providing holidays for disabled people. The Trustees have reviewed forecasts and cash reserves, which include two large donations, and concluded that the Charity has sufficient cash reserves to continue in operation for at least 12 months after the signing of the accounts. Although it is not certain that these efforts will be successful, the Trustees have taken action to mitigate the known uncertainties and are not aware of any material uncertainties regarding the Charity’s ability to continue as a going concern and deliver its charitable objectives for at least the next 12 months. Therefore, the accounts have been drawn up on a going concern basis.

These financial statements show the results of the charitable company only. The accounts of the dormant companies have not been consolidated.

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REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

1. ACCOUNTING POLICIES (Continued)

D Donations

Donations and gifts are included in full in the statement of financial activities when received.

E Grants

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier.

Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the Charity's control, the income is recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the Charity can meet such conditions, the income is deferred.

F Legacies

Income from legacies is accounted for on a receivable basis and is recognised in full in the financial statements in the period in which probate is granted, and where there is certainty of entitlement and the sum to be received.

G Income from charitable activities

Fees from breaks, holidays, continuing care and day services are recognised in the financial statements in the year in which the break or holiday occurs or the service is provided.

H Other Trading Activities

Income from the sales of goods and services is derived from ordinary activities and is stated net of VAT.

I Gifts in kind

Gifts in kind represent assets donated for distribution or use by the Charity. Assets given for use by the Charity are recognised when receivable. Gifts in kind are valued at the amount the Charity would otherwise have paid for the assets. Donated goods for resale through Charity shops are not recognised in the financial statements as gifts in kind.

J Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis and, because the Charity is unable to recover any UK Value Added Tax paid, inclusive of that irrecoverable VAT. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of the activities given below.

Cost type
Office and HQ costs
Operational Management
Information technology
Volunteer recruitment
Booking services
Marketing		 Basis of allocation
Space and facilities
Activity numbers in Centres e.g. guest
weeks
Resources supported per department
Volunteer numbers supplied
Numbers of guests booked
Proportion of resources used

The costs shown under charitable activities by objective are the gross costs of running services. Staff are not allowed to carry forward holidays and therefore no provision is required. Staff termination costs are accounted for in the year in which they fall due.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

1. ACCOUNTING POLICIES (Continued)

K Fundraising costs

Fundraising costs consist of the payroll costs of fundraisers together with their office costs and specific fundraising expenditure. Also included are associated IT and premises costs as well as an element of common central costs as above.

L Governance costs

These are the costs associated with the governance arrangements of the Charity which relate to the general running of the Charity as opposed to costs associated with fundraising or charitable activities. The costs will normally include external audit, legal advice for Trustees and costs associated with constitutional and statutory requirements such as the cost of Trustee meetings.

M Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities over the period of the lease on a straight-line basis.

N Pension costs

The charitable company operates two defined contribution pension schemes with Nest and the Pensions Trust. The assets of the schemes are held separately from those of the charitable company in independently administered funds. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. There were no outstanding or prepaid contributions at the balance sheet date.

O Capitalisation policy and depreciation

Fixed assets, being assets with a useful life greater than one year, are stated at cost. Items purchased with a value greater than £500 are capitalised.

Depreciation is provided on fixed assets capitalised in the financial statements in order to write off the cost of each asset over its expected useful life on a straight-line basis, as follows:

Cars 3-5 years
Buses 3-5 years
Building equipment 5 years
Office equipment 5 years
IT systems 3 years
Operating equipment 5 years
Freehold and leasehold buildings:
Freehold Buildings 50 years
Freehold Improvements 10 years
Leasehold Buildings length of lease
Leasehold Improvements length of lease - 10 years

Leasehold properties are amortised on a straight-line basis over the period of the leases.

Work in progress is not depreciated as the asset has not been brought into full economic use.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

1. ACCOUNTING POLICIES (Continued)

P Value of land and buildings

The charitable company's interests in freehold and leasehold property are stated in the balance sheet at their current market valuations.

Q Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. No value has been placed on donated goods held for resale.

R Deferred income

Income relating to future financial periods has been deferred and is shown in note 14 below. Income is deferred if the activity that it relates to takes place in a future period.

S Restricted funds

Such funds are subject to specific restrictions imposed by donors. The purposes and uses of such funds are set out in note 15 to the accounts.

T Unrestricted funds

Such funds are general funds or have been set aside at the discretion of the Trustees for specific purposes as set out in note 16 to the accounts. The Fixed Asset Fund represents the net book value of tangible fixed assets after the deduction of depreciation and taking into account any additions and disposals in the year.

U Foreign currencies

Transactions in foreign currencies are recorded at the rate prevailing at the date of the transaction. Monetary assets and liabilities are re-translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

V Transfers between funds

Transfers are made from or between restricted funds when this is allowed by the terms of the donation or where permission has been obtained from the donor. Transfers are made from or between unrestricted funds following approval by the Trustees.

W Debtors / Creditors Policy

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

X Significant Judgements Policy Statement

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. In the opinion of the trustees, the only estimate considered to be critical is estimating the useful economic life of tangible fixed assets.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

2. DONATIONS AND LEGACIES Unrestricted Restricted Total
2021
£’000 £’000 £’000
Donations, Grants and Gifts 3,566 775 4,341
Legacies 121 5 126
────────── ────────── ──────────
Total 3,687 780 4,467
========== ========== ==========
Unrestricted Restricted Total
2020
£’000 £’000 £’000
Donations, Grants and Gifts 487 393 880
Legacies 1,209 2 1,211
────────── ────────── ──────────
Total 1,696 395 2,091
========== ========== ==========
2021 2020
£’000 £’000
Donations received from the Trustees during the year 4 4
========== ==========
3. TOTAL EXPENDITURE
This is stated after charging:
2021 2020
£’000 £’000
Audit fees 24 24
Depreciation 186 125
Operating rentals
-
equipment		 100 62
-
London Office rental		 71 74
-
Other assets		 195 129

During the year 2 Trustees (2020: 5) received reimbursement of travel costs including those paid direct by the Charity totalling £173 (2020: £2,414) but no emoluments.

During the year, Trustees' indemnity insurance was provided at a cost of £1,932 (2020: £1,545).

3i Business Development Costs

These costs are written off from tangible fixed assets where they were classified as work in progress in 2019. They relate to the investigation of the feasibility of acquiring a 4[th] Centre, a project which has now been abandoned for the time being.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

4. Support costs directly attributed to services and fundraising activities

Central Volunteers 2021
Admin Reservations Department IT Marketing Total
£’000 £’000 £’000 £’000 £’000 £’000
Funding costs 57 - - 20 5 82
Breaks for disabled
People and carers 1,525 310 7 147 465 2,454
───────── ────────── ────────── ────────── ────────── ──────────
Total: 1,582 310 7 167 470 2,536
========= ========== ========== ========== ========= ==========
Central Volunteers 2020
Admin Reservations Department IT Marketing Total
£’000 £’000 £’000 £’000 £’000 £’000
Funding costs 44 - - 20 29 93
Breaks for disabled
People and carers 1,067 299 21 142 664 2,193
───────── ────────── ────────── ────────── ────────── ──────────
Total: 1,111 299 21 162 693 2,286
========= ========== ========== ========== ========= ==========

For details on apportionment basis see note 1h above.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

5. Analysis of total expenditure

Direct Overheads
Staff costs & support Direct Discounts/ 2021
costs Other Depreciation Subsidiaries Total
£’000 £’000 £’000 £’000 £’000 £’000
Raising funds
Investment for future - - 14 - - 14
Management 222 82 - - - 304
Legacies
Trusts - - 1 - - 1
Corporate and Events - - 3 - - 3
────── ────── ────── ────── ────── ──────
Total: 222 82 18 - - 322
Charitable activities in
Furtherance of the
Charity’s objectives:
Breaks for disabled people 3,100 2,454 1,933 170 874 8,531
And carers
Governance costs - - 23 - - 23
Total: 3,100 2,454 1,956 170 874 8,554
Other trading activities
Costs of charity shops 439 - 371 16 - 826
Costs of other activities - - 12 - - 12
────── ────── ────── ────── ────── ──────
Total: 439 - 383 16 - 838
Business development costs - - - - - -
───── ───── ───── ───── ────── ─────
Total expenditure: 3,761 2,536 2,357 186 874 9,714
========= ========= ========= ========= ========= =========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

5. Analysis of total expenditure

Direct Overheads
Staff costs & support Direct Discounts/ 2020
costs Other Depreciation Subsidiaries Total
£’000 £’000 £’000 £’000 £’000 £’000
Raising funds
Investment for future - - 25 - - 25
Management 179 93 - - - 272
Legacies - - 5 - - 5
Trusts - - 1 - - 1
Corporate and Events - - 33 - - 33
────── ────── ────── ────── ────── ──────
Total: 179 93 64 - - 336
Charitable activities in
Furtherance of the
Charity’s objectives:
Breaks for disabled people
And carers 3,858 2,183 1,737 125 848 8,751
Governance costs - - 23 - - 23
────── ────── ────── ────── ────── ──────
Total: 3,858 2,183 1,760 125 848 8,774
Other trading activities
Costs of charity shops 436 - 357 - - 793
Costs of other activities - - 44 - - 44
────── ────── ────── ────── ────── ──────
Total: 436 - 401 - - 837
Business development costs - - 257 - - 257
───── ───── ───── ───── ────── ─────
Total expenditure: 4,473 2,276 2,482 125 848 10,204
========= ========= ========= ========= ========= =========

The 'Overheads and support costs' shown above include the full costs of providing accommodation and management support for the fundraising department, along with the costs of providing marketing, public relations and communications for the department.

The total direct staff costs and the direct depreciation costs shown above include only those costs which can be directly attributed to an activity. The total staffing costs for the organisation are shown in note 6 below which incorporates the costs of both direct and indirect staffing. Governance costs comprise audit costs as per note 3.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

6 Staff Costs 2021 2020
£’000 £’000
Staff costs and numbers were as follows:
Salaries 4,790 4,518
Social security costs 382 347
Other pension costs 100 88
Redundancy/ Termination costs 26 1
──────────
──────
5,298 4,954
========== ==========
Total emoluments paid to staff (excluding social security costs) 4,916 4,606
========== ==========
During the year the Charity also spent £294,272 (2020: £413,129) on agency staffing.
2021 2020
No. No.
£150,000 - 159,999 1 -
£100,000 - 109,999 - 1
£90,000 - 99,999 1 1
£80,000 - 89,999 1 -
£70,000 - 79,999 - 1
£60,000 - 69,999 1 -
========== ==========
Total pension contributions for these employees were £9,672 (2020: £4,343).
Total remuneration paid to key management in the year was as follows:
2021 2020
£’000 £’000
Remuneration paid to key management 457 411
Key management are as described in the Trustees’ Report ========== ==========
The average number of employees in the years was as follows:
2021 2020
£’000 £’000
Full time equivalents:
Breaks for disabled people and carers 128 138
Fundraising 4 4
Support services 20 19
Charity shops 21 19
────────── ──────────
173 180
========== ==========
Individuals: 260 255
All employees ========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

7 Major component parts of expenditure

Major component parts of expenditure
2021 2020
£'000 £'000
Cost of sales 9 23
Staffing, agency, training and uniform costs 5,875 5,616
Rents 308 329
Property maintenance and cleaning 291 373
Telephones and postage 126 116
Water and energy costs 257 338
Event costs 20 164
Food costs 155 288
Medical sundries 93 19
Volunteer fares 4 46
Insurance 190 183
Vehicle running costs 128 179
Stationery and printing 154 158
Professional & consultancy fees 402 296
Depreciation 186 125
Marketing 313 473
Guest Subsidies / Discounts 874 848
Profit on Sale of Fixed Asset (1) -
Business development costs - 257
New centre - 19
Other 330 354
──────── ────────
Total 9,714 10,204
======== ========

8. Taxation

The Charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

9 Tangible fixed assets
Freehold Leasehold Furniture
Land and Land and and Motor
Buildings Buildings Equipment vehicles Total
£’000 £’000 £’000 £’000 £’000
Cost at book value
At 1 February 2020 6,419 2,090 481 454 9,444
Additions 84 10 16 - 110
Disposals - - - (111) (111)
────── ────── ────── ────── ──────
At 31 January 2021 6,503 2,100 497 343 9,443
────── ────── ────── ────── ──────
Depreciation
Cost at book value
At 1 February 2020 3,435 1,899 349 451 6,134
Charge for the year 118 42 23 3 186
Disposals (111) (111)
────── ────── ────── ────── ──────
At 31 January 2021 3,553 1,941 372 343 6,209
────── ────── ────── ────── ──────
Cost at book value
At 1stFebruary 2020 2,984 191 132 3 3,310
────── ────── ────── ────── ──────
At 31 January 2021 2,950 159 125 - 3,234
────── ────── ────── ────── ──────

The value of land within land and buildings that is not depreciated amounted to £889,330 (2020 - £889,330).

10 Investments

2021 2020
£’000 £’000
Investment movements during the year are as follows:
Market value as at 1 February 2 -
Investments gifted during the year 28 52
Revaluation 5 (50)
────────── ──────────
Market value as at 31stJanuary 2021 35 2
========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

11 Stocks

2021 2020
£’000 £’000
Goods for resale
Food Stocks 13 17
5 6
────────── ──────────
Total 18 23
========== ==========
12 Debtors
2021 2020
£’000 £’000
Trade debtors 184 117
Other debtors 5 70
Prepayments 99 154
Accrued income 74 1,283
────────── ──────────
362 1,624
========== ==========
13 Bank deposits and cash
2021 2020
£’000 £’000
Deposits held by the Charity 2,225 1,185
Current accounts 2,721 2,028
Cash holdings 2 2
────────── ──────────
4,948 3,215
========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

14 Creditors

2021 2020
£’000 £’000
Amounts falling due within one year:
Trade creditors 223 367
Other creditors 10 59
Accruals 89 87
Taxation and social security 111 112
Deferred income 310 551
Defined benefit pension scheme liability 38 37
────────── ──────────
781 1,213
========== ==========
Amounts falling due after one year:
Defined benefit pension scheme liability 120 155
The movement in deferred income is analysed as follows:
As at 1st February 2020 551 440
Transferred to the income and expenditure account (533) (440)
Income received in advance 292 551
────────── ──────────
As at 31st January 310 551
========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

15. Restricted Funds

The following funds are derived from donations given for particular purposes

As at 1 Feb As at 1 Feb As at 31 Jan
2020 Income Expenditure 2021
£’000 £’000 £’000 £’000
Balcombe trust - 30 - 30
Barclays charitable trust - 100 (100) -
Capital Campaign 947 - - 947
Clothworkers’ Foundation 13 - (13) -
Garfield Weston - 300 (300) -
Interest 23 - - 23
Joan Brander 87 - (14) 73
Longleigh Foundation - 20 - 20
National Lottery Fund - 109 (42) 67
Royal Air Force Benevolent Fund 8 - (5) 3
Other 95 221 (152) 164
────────── ────────── ────────── ──────────
Total restricted fund 1,173 780 (626) 1,327
========== ========== ========== ==========
As at 1 Feb 2019 As at 31 Jan
Income Expenditure 2020
£’000 £’000 £’000 £’000
Joan Brander 87 87
ABF - The Soldiers Charity - 57 (57) -
Royal Air Force Benevolent Fund - 12 (4) 8
The Royal Navy Benevolent Trust - 11 (11) -
Clothworkers’ Foundation - 32 (19) 13
Capital Campaign 947 2 (2) 947
Interest 23 - - 23
Other - 281 (186) 95
────────── ────────── ────────── ──────────
Total restricted fund 1,057 395 (279) 1,173
========== ========== ========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

15 Restricted funds (continued)

The categories of funds above are defined as follows:

Ellerslie Court

These funds were received through the transfer of assets from the Southport & District Cerebral Palsy Association (SDCPA). The expenditure represents the depreciation charge on the Ellerslie Court property and assets, formerly owned by that Society.

Other Revenue funds

Capital Campaign

These funds are predominantly held for supporting guests with financial needs or for those from specific geographical areas in taking a break at a Revitalise Centre. The largest such fund is the Joan Brander Memorial Fund. Other revenue funds held are generated from restricted donations to support the work of Revitalise in other ways.

These funds have been received in response to the Charity's capital campaign for the construction of a fourth respite centre.

16 Unrestricted funds

As at As at 31
1 Feb Expenditure Net income/ January
2020 Income and (expenditure) Transfers 2021
investment
losses
£’000 £’000 £’000 £’000 £’000 £’000
Tangible Fixed Asset
Fund 3,312 148 (191) (43) - 3,269
Working Capital Fund 2,321 (148) 197 49 730 3,100
Net Movement in Funds - 9,818 (9,088) 730 (730) -
────── ────── ────── ────── ────── ─────
5,633 9,818 (9,082) 736 - 6,369
────── ────── ────── ────── ────── ─────
As at As at 31
1 Feb Net income/ January
2019 Income Expenditure (expenditure) Transfers 2020
£’000 £’000 £’000 £’000 £’000 £’000
Tangible Fixed Asset
Fund 3,292 428 (408) 20 - 3,312
Working Capital Fund 2,929 (428) 516 88 (696) 2,321
Net Movement in Funds - 9,386 (10,082) (696) 696 -
────── ────── ────── ────── ────── ──────
6,221 9,386 (9,974) (588) - 5,633
────── ────── ────── ────── ────── ──────

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

16 Unrestricted funds (continued)

Tangible Fixed The Tangible Fixed Asset Fund incorporates the value of fixed assets held by the Charity Asset Fund and used in the provision and administration of services. Any assets purchased by the Charity are paid for by the Working Capital Fund and the value of these is then transferred to the Fixed Asset Fund. Conversely the value of depreciation charged on fixed assets for the year and impairment are passed back from the Fixed Asset Fund to the Working Capital Fund.

During the year the sum of £1k was disinvested in capital expenditure.

Working Capital Fund

See reserves policy on page 28 of the Trustees' report.

17 Share capital

The Charity is a company limited by guarantee and has no share capital.

18 Assets and liabilities representing funds

Working Restricted 2021
Fixed Asset fund Capital Fund funds Total
£'000 £'000 £'000 £'000
Represented by
Fixed assets 3,269 - - 3,269
Net current assets - 3,220 1,327 4,547
Creditors - due after 1 year - (120) - (120)
────── ────── ────── ──────
3,269 3,100 1,327 7,696
========== ========== ========== ==========
Fixed Asset fund Working Restricted 2020
Capital Fund funds Total
£'000 £'000 £'000 £'000
Represented by
Fixed assets 3,312 - - 3,312
Net current assets - 2,476 1,173 3,649
Creditors - due after 1 year - (155) - (155)
────── ────── ────── ──────
3,312 2,321 1,173 6,806
========== ========== ========== ==========

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

19 Lease commitments 2021 2020
£'000 £'000
The future minimum operating lease payments for the group and the Charity are
as follows;
Within one year 294 345
Between two and five years 321 504
────────── ──────────
615 849
========== ==========

20 Capital Commitments

As at 31 January 2021 the Charity had capital commitments totalling £ Nil (2020: £0).

21 Pension Scheme

The Charity's current employees are members of two defined contribution schemes, with Nest and Series 4 of the Pensions Trust multi-employer scheme. In previous years the Charity had employees in Series 1, 2 and 3 of the Pensions Trust multi- employer scheme. These series of the scheme are defined benefit schemes in the UK.

It is not possible for the company to separately identify its assets and liabilities to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme under FRS 102.

The company is required to pay additional recovery plan contributions in line with the estimated share of the Series 1 and Series 2 scheme liabilities. During the year the contributions totalled £ 35,701 (2020 £33,427).

The recovery plan will be reviewed at each triennial valuation. The last such valuation was carried out at 30 September 2017. The next two being in 2020 and 2023, which could result in a change in the contribution value.

At 30 September 2017 the valuation showed assets of £795m, liabilities of £926m and a deficit of £131m. The equivalent valuation at 30 September 2014 showed assets of £793m, liabilities of £970m and a deficit of £177m.

There is a requirement to provide in the accounts for the deficit contributions to be made under the recovery plan. This liability is stated in note 14 and the reconciliation of opening and closing provisions is as follows:

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NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2021

21 Pension Scheme (continued)

2021 2020
£'000 £'000
Provision at start of period 192 237
Unwinding of the discount factor (interest expense) 1 -
Deficit contribution paid (37) (35)
Remeasurements - amendments to the contribution schedule 2 (10)
────── ──────
Provision at end of period 158 192
========== ==========

The provision for the defined pension scheme liability has been discounted by 0.37 % as of 31 January 2021 (31 January 2020 - 0.97%).

22 Post Balance Sheet Events

Following the year end it has been decided to temporarily close the Netley Waterside centre while extensive refurbishment is carried out to transform the property into a centre of excellence in accessible design and care support for people with disabilities, including innovative technological development. The financial impact of this project has an initial one off cost of £115k then from August 2021 to January 2022 ongoing costs of between £60k and £180k. Closing the centre reduces the forecast operating losses for the same period, as the building is not in a state to attract holiday guests.

This is considered a non-adjusting post balance sheet note event and the going concern statement within the accounting policies sets out what steps the trustees have taken to manage any associated risks and uncertainties with this project.

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R￿ltalise LODGI Anne Meader 60 .revitalise.org.uk