Registered number- 02161953 Charity number.. 298074 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Llmited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Llmtted by Guarantael CONTENTS Page Reference and Administratlve Detalls of the Charttsble Company. Its Trust•e$ and Advisèrs Trustees. Report Independent Audltors. Report on the Flnanclal Statements Statèment of Financial Actlvltles 3-11 12-15 16 Balance Sheet 17-18 Statement of Cash Flo%ws 19 Note8 to the Flnanclal Ststemfjnt8 20-35 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Lirnrted by Guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES AND ADV]SERS FOR THE YEAR ENDED 31 MARCH 2022 Key Management Steve Stokes. Chair Personnel.. Directors and James Yianni, Treasurei {resKJned 8 August 2022} Trustees Anjan 8aneryee, Company Secretary Philip Brooks (deceased 21 March 20221 Jennrfer Cooke {resigned 28 October 20211 Philip Kelsey Ade Onagoruwa David Salisbury Brett Hussey {appointed 29 April 20221 James Johnson (appointed 29 April 20221 Antaneyraiah Mariyadas (appointed 24 June 2022) Gillian Forward lappolnled 29 July 20221 Jon Pratten. Chief Executive Off￿r Jan8 Johnslone, Head of Finance lappc4nled 1 May 20211 Lisa CLtshing, Head of Finance Iresigned 1 May 2021) Helen Hargr8aves, HR Manager Jai Bryant. Registered Manager Jonquil Close Sam Perry, Registered Manager Short Breaks Helen Timmons, Registered Manager Supported Living & Lincoln Close Key Management Personnel: Managers Company register number 02161953 Charlty roglstered number 298074 RegISter￿ offlco 1st Fl¢)or St Davids House 11 Blenheim Court Brownfields Welwyn Garden Cty United KingdLYn AL7 1AD Independent auditors Hillier Hopkins LLP Chartered Accountants Slatulory Audit<)r Radius House 51 Clarendon Road Watlord Hertfordshire W017 1HP Page 1 THE JUBILEE HOUSE CARE TRUST LIMITEO {A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Bankers Bardays Bank 51 High Street Hoddesden Hertfordshire EN118TG HSBC Howardsgale Welwyn Garden Cty Hertfordshire AL8 6BH CCLA Investment Man8gement Ltd 85 Quegn ￿￿to[la Street London EC4V 4ET The Charity 8ank Ltd Fos5e House 182 High Street Tonbridge Kent TN9 18E Page 2 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trltstees present their annual rewt together with the audited financial slalemenls of the Charitable Company for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees. report and a directors, report under company law. The Trustees confimi that the Annual Report and financial stalernents ol the Chaiitable CL¥npany compty wth the current stslulory iequiremenls, the requirements of the charitable companls goveming document and the promsions of the Slalement of Recommènded Practic8 (SORPI applicable lo chanties preparTng their accJJunts in aecordanee with the Financial Reporting Standard appluble In the UK and Republ￿ of Ireland IFRS1021 {effective 1 January 20191. Since the Charitable Company qualffies as small under wlion 382 of the Compani8s Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 Islralegic Report and Direetors, Rewrtl Regulations 2013 has been omitted. Ststsment on COVID-19 As an or9anisalp)n caring for vulnerable peopie. we havé been particularty impacted by the COVID-19 pandemic. However, we believe that Ihe prompt and decisNe action that we look as an organisalron ovei the last two rinanaal years has been fundamentsl in pfolecling our s8Mce users and whder team. The key business adaptations made sI￿e April 2020 are as follows.. We closed our services lo all bul essentkgr visitors at a very earfy stage. We have worked hard to ensure adequale Supplies of high quality PPE and have c18tined Cov1￿19 grants made available lo the eare industry lo cover the additional costs to the Charitable Company. Compliance wlh our PPE requirements h85 been ngorousty enforced throughout our $8Nces. and staff ar& required to aTrwayE wear N95 masks whilst in our seTw¢es. All staff continued lo lest regularfy Ihroughotrt 2021r22. In January 2021 Lateral Flow Tests ILFTI were inlrodu¢ed alongside the p0￿erase chain reaclron IPCRI lesl8. From February 2022 we slcpped using PCR tests and recorded Ihe LFf ¢entralty. We have developed rigolous procedures lo ensure that staff retumino from holidays or from higher riBk arèas such as hospitals. are safe lo retum to thè servicEs. We have segregated our staff wlhin specrfic services so that any COVltk19 outbreak woukj be contained and would affect the lowest number of servfce u8er8 and staff. At the time of wrrting no staff have contracted COVID-19 from any col￿agUes. If staff test positive for COVID-19 we make sure that they are not financially penalised. Frequent trustee and management meetings I&xh onlin8 and wa conleience call) have continued. We have kept all Staff constantly infomied via leam meetings, email and text. We have closely monitored the finanual impact of COVID-19 and claimed addrtionAI grant funding Iri)m Hertfordshire County Counci5 until th￿ expir￿￿ in Apnl 2022. As wdl as protecting our service users from the risks of infection. we have also done everything possible to ensute that they have been able to live as normal a life as possible during the lockdown penods. Page 3 THE JUBILEE HOUSE CARE TRUST UA4ITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Objectlves and activities Objectives and aclivities Jubl￿e House Care Trust is established to rxowde qualTty care and support lo those wlh dysabililies lincluding learning disabililiesl. lo enhance their qualrty of life and to empower them lo livè as independently as possible. Our ambition is Ihal adults and children with leaming disabilities should lead happy and fulfilled lives". our strategy for achiewng this is lo provide quJity support arKI care by understanding the needs of the indiwduals and their families. We are based in Wewn Garden Cty, Hertfordshl￿. bul our serwce users come from 811 over Hertfordshira 89 well as the surrounding counties. and from several of the London boroughs. We offer 8 range of services for childien 8nd adults wrth learning disabilthes ranging from residèntial care and Supported living to short breaks and outreach services Ilhe provision of 8clrvrties in the communilyl. In everything that we do we 81m lo demonstrate our key values.. a cultur8 that is open and honest.. a supportive and earing environment for both seTrice usars and staff.. and an expectstw of continual improvement Regldenlial Servlces We have re$￿ential services, Jonquil Ck)se and Lincoln Close, which each provhle support for six adults who live wrth Jubilee H¢)use on a permanent basis. Sinee April 2020 Lincoln Close has onty supported fN8 residents as the sixth room has been used for PPE storage during the COVID period. These resR1enlial seThus cater for differing levels of need. whKh frequentty involve physLql, as well as leaming disabililie5. Jonquil Close caters for six indmduals who have profound leaming disabilities. sé￿￿& users are supported lo participate in 8clivilies daity. The sefmce users are supported lo access the communty in a group or individual basis. Service users are supported and encouraged to maximise their full potential in all aspecls of theif dai living. On 2nd July 2022 one $eNi¢e usef s8dty passed away. Th￿ has left Jonquil with 8 void to be filkd. In Lincoln Close, serwce users 8re more independent. Here, Jubilee Housa provides support wrth daily tasks such as Cooking and cleaning. bul the servu users are encouraged lo do as mwh as possible for Ihernselves. Thore is currently one vacancy at this property, at)d V** are currently tookiro for an additional service user lo fill this. Supported Livlng During the year we operated two small. supported living schemes. One supports three more independent Individuals living in a shared house.. support here Is tailored around ea¢h person's specific requirements and can range from help with daily lasks such as paying bills and managing money, cooking, and managing health needs to providing a5SiStance wrth pursuing hObb￿S and interests, rneeliw wple 8nd making new friends, or finding paid or voluntary work. Service users at this seNcÉ have also been Support￿ lo go on holiday and on weekends away. One of the service users left the sermce in May 2020 due to a change in their needs. The second seNce has teen repU￿lse￿ lo provide accommodation for a single seThi￿ user with a higher level of need. We C￿MenCed PToMding support in December 2019 on an outreach basis and the servie£ usei moved Into the propety in January 2020. Short Breaks Services We have two purpose buill short breaks ¢entres. Peartree Short Breaks Centre {Peartree) is a five-bedded centre catering for children between the ages of 5 and 18, while Meadows Short Brèaks Cèntre is a four-bedded centre catering for aduks btheen the ages of 18 and 65. Both services can provide a variety of short breaks Page4 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Objectlves and activities {continuedl ranging from a lea vis11 of a few hours lo longer stays of sever81 days or more. While our contract with Hertfordshiie County Council utilises the bulk of the Pla￿Ments, we are aKvays able to also provide service8 10 individuals from other areas or lo those wtth personal budgets. Both cenlres are well*quipped lo deal with physical and learning disabilrties, with hoists and specialist bathroom equipment available If required. Activities at both services are predominantty ¢enlre based. with a w￿e range of 8etiMlies tailored lo the individual interests ability and ages of the participanls, bul both seNces also ulilise our wheelchair-frEndly Iran5PDrt services lo get out and about in the Community as much as posst)le. In 2019 Peartree retained rts Outstanding raling from Ofsted reflecting Ihe passion and Gommilmenl of the team lo deliver a great service. Outre4ch Serrfices Due lo the limitations lrnposed by COVID-19. outreach act1w1￿S had lo be drastically curtailed during and lrnmedialely prior lo the lockdown period. Foll¢Mng lh& changes to reslriclions we reviewed our ability lo offer serv￿85 under an ¢￿treach umbrella. Peartree and Meadows were required to prioritise the delNery of ovemlghl short breaks and therefore seNlces that would have been directly clasSrf￿ as outreath have not been an offer we have provided in 2021r22. The Children's service has offered addrt￿n3l seNice under Hertford$hire County councils short break local offer and families have also purchased hours through ulilising direct payments Me*ows has also facilrtaled hours under direct payTnents. The use of direct payments has enabled families to have flexthility to build hour3 of support that best meet their ne&Js. b. Volunteers Al Jubilee House, some of our volunteers help directty wrth our seNice users while others lake part in fundraislng acliwties. In October 2019 we recnjrted a volunteer wordinalor lo further develop ihis area of the charity as our volunteering levels wore relativ61y knv. Due to COWD-19 volunteerfs ￿ee$S to tha serv￿8 dgueased further on the previous yea￿$ figureg. There were 621 volunteer houis in 2021r22, 995 volunteer hours in 2020r21 and 1610 volunteer hours in 2019120. As hours were limited, the volunteer coordinalor has been creative in devetoping suttable roles and tasks making effi¢ienl use of their time. This resulted in 82 vc4unleer5 over 7 prqects which included signrfic8nl garden development work at 22 Lincoln C105e. Peartree. Jonquil Close and Linkfield. Decoration of children's bedroc¥n al Peartree, 3 Peak Challenge Fundraiser and PRJMedia w¢Jk. Although volunteer hours did not increase in 2021r22. we wll continue to wrk towards achiemng our loro-lenn tsrgel of one volunteer for every s18ff member. c. Publlc ￿nOfit The trustees confirm that they have complied wlh the duty in Charities Act 2011 to have due regard lo the Charity Commission General Guidance on Public Benefft, when reviewing their aims and objectives an(J in planning future activities. In part￿uL8r. the trustees c£￿s￿eT how planned acttvrties WTII contribute to the aims and objecb'ves they have seL Page 5 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievements and perfomian¢¢ a. Achlevoments and performance Throughout 2021r22 we have worked towards the fo1bv￿ng objedives.. Tanderlng for an addttlonal Children's short break service In 2021r22 HCC opened the tander process up for the Children's short break services. We successfully hold the contract lor Peartree and that has aCh￿Ve0 an Outstanding rating from Ofsled, this gave us an opportunity lo bid for a second sh(yt break servlce and in November 2021 we won the bid for The Pines in Hertford. The mobilisalion peri(xl started on 1st December for a 1 sl April 2022 start dale for the contract. Keeplng our SeNice Users and T¢am saf8 Our primary focus has been protecting our Seivice Users and staff during the Pandemic. Since the start of the pandemic to date we hav8 only had Service Users wth COVID. In both instances the serviGe5 have folluwed the appropriate protoco15 to keep the other Semce Usets and stsff sal8. To grow and dlverslfy our rovenues Our revenu&s increased from £2,￿0,863 10 £2.763,720, an increas8 of 8.3% on last year's income. Tha COVID-19 grant income was put in place 8S the local governmenl were unable to perfom) service raviaws ¢Juring this period. We used the fund lo d8im reimbursement for the additional infaclion controls and lesling that Jubilee House has had lo pul into place lo keep service users and stsff salè. This funding stream will no longer be available lo claim from 181 May 2022. Development of an Emeryency Placement Service We have been viewing properties lo find a suitable location kthlty. While no propety ha5 been secured yel we have becomo dearer on the process and assessing thè suilability of potential properb$s. To Increasè the use of technology to run our business In 2021122 the impact of Ihe COVID-19 pandemic encouraggj tha move to cloud*ased syslem$, enabling adminislralive staff to work from hcme where necessary. We are making progress lo mova all the main offic8 systems lo ck)ud based sdutions although the transition has not yet finalised. Page 6 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT IcoKfiNUEDI FOR THE YEAR ENDED 31 MARCH 2022 Financial r•vlew a. Results for the year Jubilee House's income for 2021r22 was £2,763.72012020121 £2,550,963), an increase of £212,757. Resourcas expended for the same penod weie £2,720.16812020r21 £2,525.8961, an increase of £194,272, Nel gains on investment weie £54,00012020r21 £Nill and a nel loss of disposal of fixed asse18 of £1.935 12020121 gain £8511. this gave a surplus for the year of £108.62412020121 £25,918). This was an improvement on last year, consisting of £54,000 for the revaluation of 43 ￿'ncoln Close and £13,007 from COIF Inveslmenl fund VaL￿tR)n. Since 2012, our residential and supported living se￿te$ have eithei received no uptift in contract price or have received one Ihal was well below inflation Cumulatively, this now means that we are I￿ng to make up a shortfall of around 2￿A ¢omp8red lo when the contracts wefe awarded. Some cost savings have been mad8 bul our $18ff costg have Increased materially wlh inflationary pay rises, the inlroduetion of aulo-enrolmenl pensions, and the requirernenl for inereased trnining in the leaming disability sector all having an impact on txjr costs. Ongoing Chasing of HCC has ￿ntinued. and we reman ¢)Ptimistic that a back daled financial award will be made. Cash and cash equivalent have increased by £142.313 to £851,779 8131st March 2022. b. ReseNo$ policy The reserves policy remains unchanged. A numbei of designated funds exist lo more clearly distinguish befvveen funds r4uiied for ¢onlin9ency purpo8e$. funds ean7)art(ed for specific prqects, and funds 118d up in business assets. A full breakdown of the reserves is shown in Note 18 Stalement of Funds. and Ihi8 show8 that out of 10181 r8serv65 of £2.208,S07, deslqnaled reseNes nrAv total £1.842.731. Of Ihis £350,000 has been sel asid8 for Business Contingency. representing around 76% 01 the average spending of our two larg8St contracts for six months, which would prowde suffKient funds to ensure the continuation of the business if these contracts were lost. Funds lied up in business assets comprise the Propety ReseNe 1£1,393.5661 represenling Jubilee House's property, nel of outstsndin9 mortgages. and Fixed Assets1£99.1651 representing other fixed assets. Restricted funds stand at £19,685. Page 7 THE JUBILEE HOUSE CARE TRUST UMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 c. Going concern The Trustees have assessed whether the use of thè going concern basis is apprcpnale and have considered Possible events or conditKJns that might cast S￿nIf￿nI doubt on the abilty of the charity lo continue 89 a going concem. The Trustees have made this assessment for a period of at least one year from the dale of approval of the financial stalemenls. In particular, the Twstw have considered the charitls forecasts an(1 projections and have taken account of pressures on events. The Trustee5 have also considered the impact of Ihe COVID-19 pandemic and measures tsken in the UK. The arily understsnés the impact the bss of the COVID-19 funding wll have on the charity next financiol year and understand the urgency lo rev￿¥ all the residential and supported Iwing o)ntracts with HCC. The Gharity has a strong cash and reserves position al the time of aFyroval of these financial slalemenls. Having made enquiries. the trustees have concluded that there is a re8sonable expedats'on that the charity hag 8dequale resources lo continue in operational exislence lor al1è8s112 months frorn Ihe date of the audit report of these financial slatemenls. The charity therefore continues to adopt the wng concern basis in pr8paring its financial statements. Structure, governance and managèmont a. Con8tltutton The Jubilee Hwse Care Trust Limited 18 registered as a charrtable company Ilmited by guarantee and wos sel up by a Memomndum and Articles of Associati￿. 11 is registered as a charity wlh the Charity Commission. There are currently 37 members of the Company. b. Methods of appointment or election of Tfustoes We source new trustees through personal reccmmendatien. advertising or by a targeted appr¢xh. All now Iruslees undergo personal effeclNeness interviews as part of the recruilmenl process in line with our safeguarding policy ané musl be C￿ared by Ihe Da18 Barring Serv￿. and we foll¢)w the Charity Commission's guidelines on recruitment al each Annual General Meeting. one third of Board members retsre by rolalion, wlh the option to stand for re4lectlon. c. Policies adopted for the Induction and tralnlng of Trustees New Iruslee5 undergo an induction prc¢ess indudes visrts to all ServI￿S and introductions lo key staff.. they are also mentored by an e￿$tIng Board member. They receive a Truslee Handbook outlining tha specifsc responsibilities and expeetsllons of ￿th them and the Ccynpany. Ongoing training is offered to all tru51ees and they are encouraged lo reguL4rty wsil Jubilee House services and to participate in Jubilee House events. d. Organlsatlonal structure and decislon-maklng policias Normally, the Board of Trustees meets monlhty. and there are bi-monlhly sub-committees which cover finance, operations and governance. as well as remuneration which meets 8nnually. Each sub19. Staff costs make up most of Ouf Cost base, and in an area of h￿￿ employment attracting staff al a comFetrtNe salary is challenging. Currently services are predominantly prowded to Hertford5hire County Council. and our aim is to diversfy our revenue base lo increase the proportT"on of our revenues that are received from grant funding, or from other contractual sources. W8 are investigating new p8rtnerships with other organisalions which wll enable us lo do this. Loss of key management personnel has also been identified as a key risk, wh￿h we mtkngale by regular benchmarking of salaries and provpding the best support and development we can. wrth the Data Protection Act 2018 implementing the requirements of the EU General Data Protection Regulations we have continued to rewew our data protection enmronmenl lo ensu￿ that we comply wth the nèw regulations. We have a r£Mnprehenswe Irainiry programme for new staff on the reqU1￿ments of the regulations. Page 9 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (CO￿[NUED) FOR THE YEAR ENDED 31 MARCH 2022 Structure. govemanca and management Icontinuedl There is also a risk of failure lo grow serv￿. arnl a fwlure lo control ￿Sts. This 15 reV￿￿d by the Finance Committee and the management team. Plans for future periods The SOCkg1 care industry is suffering c#￿Side￿IY fr(Mm a number of issues.. a lack of funding from govemment for care the slopping of covkl funding a shortage of support staff. increasing agency 8 shortage of siaff al Hertfordshire County Council considerable increase In Inflat￿n. energy costs and the overdl cost of INing The impact of this remains lo be ful￿ understood. bth there wll be a considerable ￿mOUnt of pres$uro pLaced on Jubilee House, (t's team and the finances of operating the charity and its servic8s. Our Strategy ranalns increasing the number of peeple we support in the kxal area and further afield. We are focussing on expanding outside of Wewn Garden Cty and will look lo major towns close by. This slmlegy mf(igales some of the issues above. h¢ywever il wll forc& us to focus more towards the financial wiability of gach seNice. We hav8 racently won the lender to operatè The Pines children's seNice short break ¢enlre in Hertfc*d, starting from 1st April 2022. The trans11ion of this service. coming from Aetion for Chiklren lo Jubilee House Care Trust, has successfully started and is on schedule. This wll posrtively impael the charity as we will be operating 2 children's short break cenlres as well as an adutt short break centre as of 1st April 2022. Du8 lo pressures in staff recruftmenl and h￿rfY pay rates beiro offered by compotitors, the operalional staff 8alaries there was a substantial pay increase in April 2022 in order for Jubilee House lo relain its team and bè a ompelrtive employer in and around Hertfordshire. We intend lo develop an Emergency Placement SeNice for indiwduals wlh leaming disabilrties who are in crisls. We have identified that emer9ency ￿a¢e$ of Ihis type are in very short suppty Ibolh localty and nalionallyl, and so this developmonl would be both soually beneficial and fjnancially fea&ble for Jubilee House. We also have the opportunty lo lake on more Ivansili￿ opportunities where people are mowng from local h05Pltals and back Into the c(mmunty and family life. We continue lo be focuss8d on grcMAh and dNerstficalw, bolh by lef￿6nng for new services in Hertfordshire or th8 surroLsnding counties and by increasiTrJ the amount of SUPFX)rt provvjed under OUT e￿sling servI￿s. We were looking to purchase a fve bedrcom Ixjngahjw in Haffield wth a Mew lo move exisb'ng Service Users there to gNe them a better standard of acc4)mm(mJal￿n. However, wrth local covenants on the proporty, this was not possible. We have expanded our search for anolher propety to Stevenage. We are conts"nuing lo work to increase the percentage of our incorne whith comes from grant funding. Due lo COVID-19 and the increase in cost of lithng, we accept that fundraising and donations may take a few years lo recover. We are devoting more energy lo building up relationships with local organisalions to increase our visibilty in the local cornmijnity to facilitate thi8. The volunteer ccwrdinator we hired in 2019 will tske on a reviewed role accessing bids and grants that are available lo the Ghaiity. This will focus on the Serwce Users dire¢tly and not the funding of oper*ons. We aLso conts.nue to improvè our CoSt￿ectivenesS by further developing our use of lechnobgy to run our business. Page 10 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limiled by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Statement of Truste6s' responslbllttlés The Twslees (who are also the directots of ltte Lhantable Company for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in 8ccordanee with applieable law and United Klngdom Aecounting Standards (Unrted Kingdom Generally Accepted Aecounling Praclicel. Company law requires the Tnjslees lo prepare financial statements for each finaneial year. Under company law. the Trustees must not approve the financial slalemenls unless they are sab"sfied Ihat they giva a trua and fair view ol the stste of affairs of the charitab￿ Company and of Its Incoming resources and application of resources, including ils incorne and expendrture, for that peri¢>J. In preparing these financi81 statemen15, the Trustees are required lo.. select surtable accounting policies and then apply them consislendy. observe the rnelhods and principles of the Charities SORP {FRS 1021: make judgrnenls and xcounting estimates that are reasonable 8nd prudent, slate whether applicable UK AC￿Unting Stsndards {FRS 1021 have been followed. su*'e¢l to any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on Ihe going concem basis unless rt is inappropriate lo presume that the Charitable Company will continue in business. The Trustees are ffjsponsd)le for keeplng ad￿U*l¢ accountirvJ records that are gufficienl to show and axplain the Chanlable Company's transact￿n$ and disclose wih reasonable accuracy at any lime the financial position of the Charitable Company and enable Ihem to ensure that the financial Slalemenls conwly with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking ieasonable steps for the preVent￿n and detection of fraLKI and other irreguLgri1ies. D￿ClOSUre of Infomatlon to audltors E￿h ol the persons who are Trustees at the time when this Tru8lees' Repc¥t 1$ approved hos confimied Ihal.. so lar as that Trustee is aware, there is no relevant audit infomiatson of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken 88 a Trustee in order lo be aware of any relevant audrt information and to estsblish that the chariW5 audito￿ are aware of that infomialion. Audftor6 The auditars. Hillier Hcykins LLP, have Indicated their willingness to Continue in office. The designated Trusloes will propose a mothjn Teapwnting the auditors at a meebng of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf b Ste e Stokes Chair Date". 2+1,,ILL Page11 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarnntsel INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST UMITEO Opinion We have audited the finanual slalemenls of The Jubilee House Care Trusl Limited Ilhe 'charilable company'l for the year ended 31 March 2022 which comprise the Slalemenl of Finan¢ig1 Activilies. the Balance Sheet, the Stalemént of Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation is applicab￿ law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Repgrting Standard 8pplicable in Ihe UK and Republic of Ireland, (unit￿ Kingdcrfn Generalty A¢xepted Accounting Practice). In our opinion the finan￿al statements. give a true arKI fair vw of the slate of the Charita)￿ companls affairs as at 31 March 2022 and of 118 incoming res¢JJrces and 8pplu11c￿ of resoLJrces, induding ils ￿CoMe and expenditure for the year then ended., have been prcp8rly prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice,. and have been PTepared in a¢cordance with the rfr4uirements of the Companies Act 2006. Bo81s for oplnion We conducted our audit in accordance wth Inlemational Stsndards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilitie5 undèr those standards are further described in the Auditors, responsibilities lor the audit of the financial stslements sedion of our report We are independent of the charitable company in accordance with the ethical requirements Ihat are ￿levant to our audit of the finan￿al statements In the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfi'lled our other ethical responsibilities in accordance wth these requirements. We believe Ih81 the audit ewdence we have oblained is 8uffidenl and appropriate to prowde a basis fc* our opinion. Concluslons relatlng to golng c¢)ncern In auditing the finaneial statements, we have corK4uded that Ihe Trustees. use of the going conrRrn basls of 8CGounling in the preparation of the financkql ststQr￿nt$ is appreyriale. 8a8ed on the wcrfk we have perform￿. we have not identified any malarial uncertaint￿$ re181ing to events or conditsons that, individualty ￿ collectively. may cast significant doubt on the charitable companl3 ability lo continue as a going con￿￿ for a peric4J of at kast bwdve month5 from when Ihe financial slaleménls arè 3ulhorised for issue. Our responsibilit￿$ and the responsibil￿e5 of the Truslees with r8sped to going concern are described in the relevant sections of Ihis report. Page 12 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limlted by Guarantèe) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST UMITED ICONTINUEDI Other infomiallon The other information comprises the informab'on included in the Annual Report other than the financial 81alemenls and our Auditors, Report thereon. The Trustees are responsible for the other information contain within the Annual Report. Our opinion on the financial statements does not cover the other infomiation and, except lo the extent otherwise explicitly slated in our rewrt, we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo ￿ad the other inf0m￿tIOn and. In doing so, consider whether the other information is materialty inconsislent wlh the financial ststemenls or oijr knovledge cl)tained In the course of the audit, or othenllise appears to be materialty misstated. If we identify such material inconsistencies or apparent malerial misslalemenls, we are required lo deternine whether this gives rise lo a material misslatwnenl in the financial stslements themselves. If, based on the work we have perfomièd, we condude that Ihare Is a material misslalement of this other infomialion. we are required to report that f8d. We have nothing to report In thts regard. Oplnlon on oth•r matters pregcrlbed by the Companles Act 2006 In our opiftion, based on the work undertaken in the c￿lse of the audtt.. the information given in the Trustees. Report for th6 financial year for which the financial slalemenls are prepared is consislenl with the finawal slalemenls. the Trustees, Report has been prepared In accordance with applicablg legal requirement8. Matters on whlch we are r•qulr•d to report by èxeewlon In the 14hl of our k￿th￿ed9e understanding of the charitsble Company and rts enmronment obtained in the course of the 8udrt, we have not identif￿d material misslatemenls in the Trustees, Report. We have nothing lo report in respect of the folk*￿n9 matters in reLqtion lo which Companies Act 2006 requires us to report lo you rf, in our epinion. 8dequ*e accounling records have not been kept, or retums adequ81e for our audit have not been received from br8nche5 not wsrted by us,. or the financial $181emen15 ale not in agreement %wth the accounting records and returns,. or certain disclosures of Trustees. remuneration sp8cified by law are not made.. or we have not received all the inforrnalion and explanations we requlre for our audit., ( the Trustees were not entil￿d to prepare the financial slalemenls in accordance wth the small companies regime and lake advantsge of the small ￿MpanIeS, exernpt￿ns in praparing the T￿￿tees, Report and from the requirernenl lo prepar8 a Strategic Report. Page 13 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limiled by Guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST LIMITED (CONTINUED) Responsibilities of tru¥t8è5 As explained more fully in the Tiuslees. Responsibilities Statement, the Truslaes (who are also the diieclors of the charitable wmpany for the purposes of company Lawl are responsible for the preparation of the financial 61alements and for beiThJ satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary lo enable the preparation of ftnancial statements that are free from material misstatement. whether due to fraud or error. In preparing the finanelal slatemenls. the Trustees are résponsible for assessing th8 charitable compantys ability lo continue as a going concem, disclosing, as appI￿able, matters related lo going concem and using Ihe going concern basis of accounting unless the Trustees either intend lo Iquidate the Chantab￿ company or lo ceas operations. or have no realistic atternative but to do 50. Auditors. re8ponslbllltlg8 for the audit of ihe flnanclal ststemants Our objectives are to c41ain reas<)nab￿ assurance al)out whether the finanual slalemenls as a whole are free from material misslalement, whether due lo fraud or error. and lo issue an Auditors, Report that Includ￿ tyjr opinion. Reason8ble assurance Is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will aNvays delecl a matefial misstatement when il exists. Misslalemenls can arise from fraLKI or error and are considered malerial if, indiwdualty or in the 8ggregate. they could reasonably be expected lo influenc8 tha economie decisK>ns of users taken on tha basis of these financial s181ements. Irr4ularili8s. including fraud, are instances of nonse charged with govemance of the entity and management. We consider the results of our enquirie8 of management 8boul their own idenlrfic*K>n and assessment of the nsks of iffegularities. any matters we Idenlrfied hamng obtained arKI re￿&ved the ch8ri1able companys documentation of their FX)licies and procedures ielating lo. identifying. evaluating and compl￿"ng wth laws and ￿UlationS and ¥thelher they were aware of any Instances of non-compliance.. detecting and responding to the risks of fraud and whether they have kn￿edge of any actual, suspected or alleged fraud.. the internal controls eslablished lo mrtuate risks of fraud or non-compliance with laws and regulatt"ons,' the matters discussed arnong the audit engagement team, warding Iw and where fraud might occur in the financial slalernents and any ￿ential indicolors of fraud. As a result of these procedures, we considered the opportunrtEs and incenlives that may exist within the organisation for fraud and idenltfied the greatest potential for fraud. In ¢cMnmon with all audits under ISAS IUKI. we are also required lo perforrn specrfic pr¢xedures lo respond lo the risk of management override, including lesling joumals and evaluating whether there was eVKlence of bias by the directors that represented a risk of material misststement due to fraud. Page 14 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE ME•ABERS OF THE JUBILEE HOUSE CARE TRUST UMITED ICONTINUEOI We also obtained an understanding of the legal and regulatory frameworks thal the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the deleminalion of material 8mounls and disdosures in the financial statements. We focused on laws and regulations that could give rise lo material misslalemenl in the financial stalerrents. including. but not limited to, the Companies Act 2006 and relevant lax legislation. Because of the inhewnl Iimrtatkjns of an audrt. thero 1$ a risk that we will not delecl all irregularities, including those leading to a material misstatement in the finanua statements or non-complianea with regulation. This risk increases the more that complianee 4Mth a law or regulation is removed from the events and transactions reflected in the ffnancial stslements. as we wll be less likdy to become aware of instsnces of non-compliance. The ￿sk Is also greater regarding itregularTlie8 c￿urrIng due lo fraud rather than emr, as fraud involves Snlenlional conce8lmenl. forgery, conusion, omission or mksrepresentation. A further deSCript￿n ol our responsibilrties for the audit of the financial sta18ments is kK*ed on the Financial Reporting Councifs web81te at.. M•Jw.f .uklaudilo Auditors, Report. sibiltties. This description forms part of our U$0 ofour report This report Is made solety lo the Charitab￿ company's membeTS. as a body. in ￿￿rdance with Chapter 3 of Part 16 01 the Compan￿5 Act 2006. Our audit work has been undertaken so that we might state lo the charitable ompanls members those matters we are required lo slate lo them in an Auditors, Report and for no other puipose. To the fullest extent pem)itted by I￿. we do t)ol aceepl or assume responsibilty to anyone other than the ch8ritable company and its members, as a body. for our audrt work, for this report. or for the opinions we have formed. Gary Wong BFP FCA IS•nlor Statutory Audftor) for and on behaw of Hlllier Hopkins LLP Charterèd Accounlanls Statutory Auditor Radius House 51 Clarendon Road Watford Hertfordshire W017 1HP Date.. 5 December 2022 Page 15 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Llmited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Unr•strictsd fvnds 2022 Restricted funds 2022 Total funds 2022 Tolal funds 2021 Nots Income from.. Donations and legacies Charitable activrties Investments Other income 14.492 2,726,290 1.837 2,898 18,203 32,695 2,726,290 1.837 2.898 48,772 2,461.956 3.169 37,075 Total Income 2.745,517 18,203 2,763,720 2,550,963 Exyndlture on: Raising funds Charitable adivitiés 200 2,705,880 200 2,719,968 2,926 2,522.970 14,088 Total •xpendlturo 2,706,080 14,088 2.720,168 2,525,896 Net Income before net galn8 on Investments Net gains on investments Net movement In funds b8fore other recognlsed galnslllossasl 39.437 13,007 4,115 43,552 13,007 25,067 52.444 4,115 56.$59 25,067 Other recognised gainglllossesl: Gains on revaluation of investment property Nel gainsllbssesl on disposal of fixed assets 13 S4,0 54,000 {1,9351 11,9351 851 Net movemgnl In funds 104.509 4,115 108,624 25,918 Reconclllatlon of funds: Total funds br(xJght foNard Net movement in funds 2.084.313 104.S09 15,570 4,115 2.099,883 108,624 2,073,965 25,918 Totsl funds carrled fonvard 2.188.822 19.685 2,208,507 2099,883 The Statement of Financial Actiwts'es includes all gains and losses rewgnised in the year. The notes on pages 20 10 35 fomi part of these financial staterrEnts. Page16 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarantee) REGISTERED NUM8ER: 02161953 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Fixed assets Tangible assets Investment pr¢)perty 12 13 1.347,832 479.000 1,404,997 425,OL 1,826,832 1,829,997 Current assots Debtors Investments Ca6h at bank and in hand 14 15 82,730 46.678 805,101 421,696 709,466 934,509 1, Isy, 162 Creditors.. amounts lalling due within one 16 (526,87T) Nel current asset8 683.348 604,285 Total assets less current Ilabllltles 2.510.180 2,434,282 Creditors" amount3 fallin9 du6 after more than i)na year 17 1301,6731 {334,399) Total not assets 2,208,507 2,099,883 Charlty funds Reslri¢ted funds Unrestricted funds 18 18 19,685 2,188,822 15,570 2,084,313 Total funds 2.208,507 2,099,883 P8ge 17 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarantee) REGISTERED NUMBER: 02161953 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2022 The Trustees ￿n￿ledge their responS￿lI￿S for comp￿"ng the requiretr*nts of the Act with respect lo accounting records and preparation of financial statements. Tha financial statements have been prepared in acC￿danCe ￿th the prowsions applicable lo enkn.ties subj8ct lo the small cornpanies regime. Tha financial statements were approved and authorised fof issue by the Trustees and signed on their behalf by.. Anjan Banerjee Company Secretary Dale,. .i4l,, ILL The notes on pages 2010 35 lomi part of these financial ststements. Page18 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guardrrteel STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note Cash flows from operating activities Net cash used in werating adivrties 21 152,492 39,214 Cash flows from Investlng activltles Proceeds from the sale of tangible f¢xed assets Purchase of tangible fixed assets {10,1791 (16,409J Net cash used In Investlng acttvltles 110,1791 {15,5581 Changt In cash ?nd cash equlvalents in th• year Cash and cash equivalents al the beginning of the year 142.313 709,466 23,656 685,810 Cash and cash 6qulval8nts at tha ond of the year 851,779 709,466 The notes on pages 20 10 35 form part ofthese financial statements Page 19 THE JUBILEE HOUSE CARE TRUST UMITED {A Company Limited by Guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 General infomiation The Jubilee House Care Trust is a charilabie company limited by guarantee and incorporated in England and Wales. Il's registered office is 1st Floor St Davids House. 11 Blenheim Court, Brownfields, Wewn Garden City, Uniled Kingdom. AL7 1AD. Accounting pollcles 11 Basls of preparatlon of flnancial statements The linancial slalernents have been prepared in accordance wrth the Charities SORP IFRS 1021- Accounting and Reporting by ChaTilies.' Statement of Recommended Practi￿ applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Irekgnd IFRS 1021 leffe¢tive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 the Companies Act 2006. The Jubilee Housé Care Twsl Limited meets tha definition of o public benefrt entity under FRS 102. Assels and liabilities are inrtially recognisea. Depreciation is promded on the ￿lOWIng bases: Freehold propety Motor vehi¢ks Furniture & equipment - 50 years - 3 years . &8 years The a5sels' resKlual values, useful INes and depreciation methods are rewewed. and adjusted prospectively rf appropriale, cy rf there is an indication of a swJnificant change Sin￿ the last reporting date. Page 21 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies {continued) 2.8 Investments Fixed asset investments are a fomi of financial instrument and are inib'ally r￿gnised at their Iransxtion cost and subsequentty measured at lair value al the Balance Shèet dale, unless the value cannot be measured reliably in which case rt 1$ measured al eosl less impaim)enl. Investment gains ané losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Statement of Financial Actiw1￿. Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investsnenl propety welds for comparable real estate, adjusted if nacessary for any differences in the nature. kxation or condrtjon of the specrfic asset. 2.9 Debtors Trade and olher debtors are recognised at the sethemenl amount after any trade discount offer8d. Prepayments are valued at the amount prepaid net of any Irale ¢Ji$counls due. 2.10 Cash at bank and In hand Cash al bank and in hand includes cash and short-lerm highty Iwuid investments wlh a short malurty of three months or less from the dale of &quisilion or opening of the deposrt or similar account. 2.11 Liabllltlès and provislons Liabilities are reeognised when there is an obligation at the Balance Sheet dale as 8 result of a p8St evenl. it is probable that a transfer ol econom￿ benefit will be required In settlement, and the amount of the settthent be eslimaled reliabty. Liabilities are reC￿niSed at the amount that the Charitabbe Company anliupates il will pay lo settle the debt or the amount rt has r￿e1Ved a$ advanced payments for the g¢)ods or services it must pro￿lde. Provisions are measured at the best estimate of the amounts required 10 5ellle the Obligat￿n. Whare the effect of the lime value of money is material. the provision is based on the present value of those arnounts, discounted at the pre-tax diwunt rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the St*emenl of Financial Actiwlie5 as a finance cost. 2.12 Flnancbal Instruments The Charitable Company onty has financial assets and financial liabilities of a kind that qualify as bas￿ financial instrumènts. Basic finan¢ial instruments are Initialty reco9nised al transaction value and subsequently measured at their settlement value wth the exception of bank loans wh￿h are subsequently measured al amoty'sed cost using the effedive interest method. 2.13 Pensions The Charitable Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitable Company to the fund in respect of the year Page 22 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Lirnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2022 Accountlng pollcles Icontinuedl 2.14 Fund accountlng Gener81 funds are unrest￿ted funds whth a￿ available for use al the diSc￿tion of the TTU5tees in furtherance of the general objeclives of the Charitable Company and which have not been designated for othér purpose8. Designated funds comprise unresln.cted funds that have been sel aside by the Trustee5 for particular purposes. The aim and use of each d￿grIated fund L8 sel out in the not6S to the financial statements. Restr￿ted fvnds are furKls which are lo be used in accordance wlh SPeCrf￿ restrictions imposed by donors or which have been raised by the Charitable Company for partwlar purposes. The costs of raising and 8dminislering such funds are charged against the specsfic fund. The aim and use of each re8lricted fund is set out in the notes lo the financial statements. Inv8slmenl incclne. gains and k>sses are allocated lo the appropriate fund. Incom8 from donations and legacies Unrestrlcted funds 2022 Restrl¢ted funds 2022 Total funds 2022 Donations Grants 14,492 7,573 10,630 22,065 10,830 14.492 18.203 32,69S Unrestricted funds 2021 Reslricled funds 2021 Tolal funds 2021 Donations Grants 32. 753 13. 189 2,830 45,942 2,830 32, 753 76.019 48,772 Page 23 THE JUBILEE HOUSE CARE TRUST UMITED IA Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2022 Income fmm charitable activities Unrestricted funds 2022 Total fund8 2022 Residential services Supported living Short break seTwces Outrea¢h Other 912,621 524,792 1,227,596 8,130 53.151 912,621 S24,792 1.227,596 8,130 53,151 2,726,290 2,726,290 Unreslricled funds 2021 Total funds 2021 Residential seNTces Supported living Short break 8ervtces Outreach Other 774,010 479,670 1, 183,438 2,804 22,034 774,010 479,670 1, 183,438 22,034 2,461,956 2.461,956 Investment incorne Unrestrfcted fund5 2022 Total funds 2022 Bank interest Rent reC￿Val￿e 171 171 1.666 1,666 1,837 1.837 Page 24 THE JUBILEE HOUSE CARE TRUST UMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Investment incomo Icontlnu8d un￿sInc1&d ftinds 2021 To181 funds 2021 Bank interest Rent receivable 660 660 3, 160 3, 160 Other Incomlng resources Unrestr5eted fund$ 2022 Total funds 2022 Furlougtt income 2,898 2,898 Unrestricted funds 2021 Tolal funds 2021 Furfough income 37,075 37,075 Expendlturè oo ralsing funds Costs of raising voluntary Income Unrestricted funds 2022 Total funds 2022 Fundraising other costs 2QKJ 200 Page 25 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2022 Expendi￿re on ralslng funds Icontlnuedl Costs of ralslng voluntary Income Icontlnuedl Unresfncled lunds 2021 Tolal funds 2021 Fundiaising other costs 2,926 2,926 Analy¥ls of expendlture on charitable actwities Summary by fund typ8 Unrestrieted Restricted funds funds 2022 2022 Total 2022 Chartlable activilkes 2,705.880 14,088 2,719.968 UnTrslricted funds 2021 Restricted funds 2021 Total 2021 charitab￿ actiVTties Z513,092 9,878 2,522,970 Page 26 THE JUBILEE HOUSE CARE TRUST UMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of expenditure by activltlès Actlvitie$ undertaken directly 2022 Support costs 2022 Total funds 2022 Charitsble actwilEs 2.198,136 521.832 2.719.968 Activilies undertak8n directly 2021 Support costs 2021 Tol81 funds 2021 Charrtable acljvit 2,019,638 503,332 2.522,970 Analys18 of support costs Total funds 2022 Total funds 2021 Staff costs Rent Mortage interest IT 322,059 33.000 13,378 28,969 21.079 14,J12 321 308,611 33,000 14,082 24,400 24.833 12,870 488 12,053 31,843 23,855 17,297 Office infrastructure, eqUip￿nI & consumables Insurance & ulilil*s Tlansport Audit fees Professional fees Deweciat*)n Other 9.250 6,244 23.855 49,365 521.832 503,332 Page 27 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limited by Guardnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. Staff costs 2022 2021 Wages and salaries SLKial security costs Contribution lo defined contribution pension schemes Agency costs Ex-gralia payments 1,813,063 150,535 50,032 181,091 1,653,917 127,447 43,949 168,998 13,000 2,194,721 2.007,305 The average number of person8 eM￿0yed by the Chantable Company during the year was as follows.. 2022 2021 Avg staff no. 65 64 The numbgr of amployees whose employe6 benefrts lexcludirvJ employer pens*)n costs) exceeded £60,QOO was.. 2022 No. 2021 In the band £60.001- £70,00) Key management personnel Comprised of the Chief Executive, Head of Finance, HR Manager and three Registered Man8gers_ Total employee benefits of th8 Charitys key man8gement personnel wer8 £292,01712021.. £255,546). Trustees, refftuneration and expenses During the year, no Trustees receNed any remunerat￿￿ or other benefrts {2021- £NIL). During the year ended 31 March 2022. no Trustee expenses have been incurred (2021- £NIL}. Page 28 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. Tangible fixed assets Freehold property Motor Furnlture & vehicles equipment Total Cost or valuation At 1 April 2021 Additions Disposa 1.622,748 94,016 432.298 10,179 2,7001 2,149.062 10.179 12,700) At 31 March 2022 1.622,748 94.016 439,777 2.156.541 D8pr8clatlon At 1 April 2021 Charge fc* the year On disposals 3SO,226 23.855 84.712 9.304 309,127 32,250 17651 744,065 65,409 17661 At 31 March 2022 374,081 94.016 340,612 808,709 Net book value At 31 Mareh 2022 1.248,667 99,165 1,347,832 At31 Ma￿h 2021 1,272,522 123, ITI 1,404,997 13. Investment property Fréehold Investment property Valuation At 1 April 2021 Surplus on ￿valUation 425,000 54,000 At 31 March 2022 479.000 The most recent professional market valuation of £425,000 was provided by Cassldy & Tate. Sl Albans in March 2022. The Tnjstees beI￿ve the valuation as al 31 MarGh 2022 had increased lo £479,000 based on an open market value for existing use basis. This valuation does not represent a Rics valuation. The historic cost of the investment propety is £51.709. Page 29 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Debtors 2022 2021 Due within one year Trade debtors Olhec debtors Prep8ymenls and accrued Inel 51,003 178 31.649 394.947 26, 749 82,730 421,696 1 S. Current asset investrnents 2022 2021 Investments 46,678 16. Croditors: Amounts falling du& wlthln one year 2022 2021 Mortgage10gn Trade credrfors Other tsxation and s(￿1 securty Other creditors ArKruals and deferred incomg 32,428 78,354 31,240 49.274 32,230 3,488 136.891 414, 133 251,161 526,8T7 2022 2021 Deferr￿ income at 1 April 2021 Resources deferred dunng the year Amounts released frc¥n prewous peiiods 296.476 26.341 1296.2171 296.697 277.669 (277,890) 26,600 296,476 Page 30 THE JUBILEE HOUSE CARE TRUST UMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. Creditors: Amounts falling due after more than ona yèar 2022 2027 Mortgage loan 301,673 334,399 The aggregate amount of liabllrt￿S payable or repayable wholty or in part more Ihan fiva years after the reporting date is. 2022 2021 Payable or rèpayable by inslalmenls 159,613 201,923 The loan from Welvryn Haffield Council lotalling £98.898 due al the year end 18 secured on the freehold propety, Ihg Peartree Short Breaks Centre. The loan from the Charrty bank lolalling £235.203 due at the year end is ￿ured on the freehdd propety, the Meadow5 Short Breaks Centre. Page 31 THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statement of funds statgmènt ol funds - current year Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Galnsl (Losses) Incom8 Expendlture Unrestrlcted funds Oesignated funds Business contingency Property raserve Flxed assets 350.000 1,331,884 133,327 350.000 1,393.566 99,165 7.682 (32,227 $4.000 11,935) 1,815,211 124,S451 52,065 1,842,731 General funds General funds 269.102 2.745,517 12,706,080) 24,545 13,007 346,091 Total Unrestrlctad funds 2,084,313 2,745,517 (2,706,080) 65,072 2.188.B22 R￿1￿cted funds Jubilee House- general Peèrtree- general 22143 Lincoln Jonquil- general Meadows- general 5,200 13.343) 3,202 360 9.480 3,500 3.042 17.158) 12,500 11,087 2,682 3,300 6,S03 2,300 3,162 836 3.998 15.570 18,203 114,0881 19,685 Total of funds 2,099,883 2,763,720 12.720,1681 65,072 2,208,507 Page 32 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarant•èl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. Statement of fund$ (Continued) Oesignalad funds: Business ￿nti￿genCY Pioperty reserve Designated for retentvJn in re5ped of an unexpected emergency. Repiesents freehokl Jand & buikjings and investrnenl prLwerty Inel of rtstanding mortgages). Represents fixed assets used in business {excluding land & buildings). Fixed assets R8Strl¢ted funds: Jubilee House- general Restricted for use at Jubilee House. Peartree- general Reslrtcled lor use at Peartree Short Breaks Centre. Outreach - After School Restricted for use in providing After School Clubs. 22143 Lincoln Reslricled for use al 21122 and 43 Lin￿1n. Jonquil general ReStr￿ted for use al Jonquil Aéulis, residenb'al. Meadows- general Restricted for use at Meadows Short Breaks Canlre. 19. Summary offunds summary of funds- current year Balance at 31 March 2022 Balance at 1 April 2021 Transfers Inlout Galnsl (Losses) Income Expenditure Designated lunds General funds Restricted fund8 1,815.211 269,102 1S.S70 124.$451 24.545 S2,065 13,007 1,842,731 346,091 19.685 2.745,517 12,706.080 18,203 114.088 2,099,883 2,763,720 12,720,168) 65.072 2,208,507 Page 33 THE JUBILEE HOUSE CARE TRUST UMITED {A Company Limited by Guarantee) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Anatysis of net assets between funds Analysis of net assèts between funds- current year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangibie fixed assets Investrnenl pfopety Current assets Creditor8 due wlhin year Creditors due in more than one year 1,347,832 479.000 914,824 {251,161) (301,673) 1,347,B32 479,000 934,509 {261,1611 {301,6731 19.685 Total 2,188,822 19,685 2,208,507 21. Reconciliatlon of net movomgnt in funds to net cash flow from operatlng actlvltl8s 2022 2021 Nel income for the year las per Ststemenl of Finanoal Adivilies} 56.559 25,067 Adjustments for: Depreciation charges Decreasellincreasel in debtors Increaselldecreasel in eredrtors 65,409 338,969 1308,4451 67, 748 (58,569) 4,968 Net cash provlded by opgrating actlvltles 152.492 39,214 22. Anatysis of cash and cash equNalents 2022 202t Cash in hand Charities investment fund 805.101 46,678 709,466 Total cash and cash equlvalents 851.779 709, 466 Page 34 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 23. Analysis of changes In net debt At 1 Aprfl 2021 Cash flov At 31 March 2022 Cash at bank and In hand Debt due wrthin 1 year Debt due after 1 year Current Inve8trnent8 709.466 {31.2401 (334,3991 95,635 11.188) 32,726 46,678 805.101 (32,4281 {301,6731 46,678 343,827 173,851 517,678 24. Operatlng lease commitments At 31 March 2022 the Charitable Company had commitments lo make future minimum lease payment$ under non-cancellable operating leases a8 folltrws.. 2022 2021 Not later than 1 year Later than 1 year and not later than 5 yeaJ8 30.250 27,5C 24,938 30,250 52.438 25. Related party transactions At the balance sheet date. thè Charitable company owed The Jubilee House Propety Semces Limited. a company in whith 4 Trustees hokj Directorships. an amount of £3,48812021.' £nill. There were no other transactions v•th this ￿rnpany. 26. Controlllng party There is no controlling or ults'male conlrcAling paty. PaJe 35