2022-03-31-accounts - Caldecott Foundation Limited

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CONTENTS
			Page No
Legal and Administrative		Details	1-2
Chair ofTrustees' Report
Trustees' Report			4-9
Independent Auditors'	Report		to- 13
Statement of Financial	Activities		14
Balance Sheet
Cashflow Statement			18
Notes to the Accounts			19-37

Trustees				Mr Charles Lister (Chair)
				Mrs Susan Appleby
				Mr Jerome Flechais
				Mr John Fletcher (Treasurer)
				Mr Colin Green (Vice Chair)
				Mrs Mana Sullivan
				Mrs Mares Thorn
				Mr Simon Wakeman
Secretary				Mr Steve Anderson
Key Management			Personnel	Nicholas Barnett
				Karen Norman
				Steve Anderson
				Damion Napier
				Tim Allison
				Kevin Gore
Charity Number				307889
Company	Number			00419256
Registered		office		Caldecott House
				Hythe Road
				Smeeth
				Ashford
				Kent TN25 6SP
Independent		Auditors		Azets Audit Services
				Greytown House
				221-227 High Street
				Orpington
				Kent BR6 ONZ
Bankers				Barclays Bank Pic	National	Westminster	Bank Ptc
				66 High Street	PO Box	No. 4NU
				Ashford	London
				Kent TN24 8TL	W1A 4NU
				Santander UK Pic
				Bridle Road
				Bootle
				Merseyside
				L304GB
Solicitors				Kingsfords
				2 Elwick Road
				Ashford
				Kent. TN23 1PD

The Trustees,	who are also the directors forthe purpose	ofcompany law, and who served during the year were:
Mr Charles	Lister (Chairman)	Mr Colin Green (Vice Chair)
Mrs Susan	Appleby	Mrs Catherine Smith (resigned 29July 2021)
Mrs Angels	Collins (resigned 3March 2022)	Mrs Maria Sullivan
Mr Jerome	Flschais	Mrs Mares Thorn
Mr John Fletcher (Treasurer)		Mr Simon Wakeman

Day to day management
The day to day management	ofthe charity is delegated	tothe Senior Management	Team consisting	of:
Chief Executive Officer		Nicholas Barnett
Head ofEducation		Karen Norman
Head of Finance		Steve Anderson
Referrals and Commissioning	Manager	Damion Nspier
Business Manager		Tim Allison
Operations Manager		Kevin Gore

			Note	Unrestricted	Designated	Restricted	2022	2021
				Funds	Funds 6	Funds 2	Total 6	Totalf
Income from:
Donations and legacies					6,182	14,269	20,451	77,361
Charitable activities			3	8,852,043		576,544	9,428,587	8,573,331
investment income
Income from investments				59			59	2
Interest receivable				102			102	45
Other			4	2,859			2,859	70,083
Total Income				8,855,063	6,182	590,813	9,452,058	8,720,822
Expenditure on:
Raising funds					771		771	482
Charitable activities			5	8,736,374		602,334	9,338,708	8,108,830
Corporation tax - trading								3 146
Total expenditure			5	8,736,374	771	602,334	9,339,479	8,112,458
Net income/(expenditure)	before
transfers				118,689	5,411	(11,521)	112,579	608,364
Transfers between funds			20	(136,567)	136,567
Net incomei(expenditure)	after
transfers				(17,878)	141,978	(11,521)	112,579	608,364
Other recognised gains i	(losses):
Revaluation gains/(losses)	on	fixed
asset investment			13					(383)
Remeasurement gain on defined
benefit pension scheme			17		1482 000		1,482,000	(1,313,000)
Net movement in funds				(17,878)	1,623,977	(11,521)	1,594,578	(705,018)
Reconciliation offunds:
Fund balances at 1April 2021				1,158,406	(1,222,308)	121,590	57,688	762,707
Fund balances at 31 March 2022				1,140,528	401,670	110,069	1,652,267	57,688

Comparative information	Comparative information	only	only
					Note	Unrestricted	Designated	Restricted	2021
						Funds	Funds	Funds	Total
						f	8	6	6
Income from:
Donations							9,883	67,478	77,361
Charitable activities					3	8,007,756		565,575	8,573,331
Investmentincome
Income from listed	investments					2			2
Interest receivable						45			45
Other					4	70,083			70,083
Total Income						8,077,886	9,883	633,053	8,720,822
Expenditure on:
Raising funds							482		482
Charitable activities						7,516,198	1,798	590,834	8,108,830
Corporation tax - trading						3,146			3 146
Total expenditure					5	7,519,344	2,280	590,834	8,112,458
Net incomel(expenditure)		before transfers				558,542	7,603	42,219	608,364
Transfers between	funds				20	90,645	787	(91,432)
Net income/(expenditure)		after	transfers			649,187	8,390	(49,213)	608,364
Other recognised	gains I	(losses):
Revaluation gains/(losses)		on	fixed	asset
investment					13		(383)		(383)
Remeasurement gain/(loss)		on defined		benefit
pension scheme					17		1 313000		1 313000
Net movement in	funds					649,187	(1,304,992)	(49,213)	(705,018)
Reconciliation of	funds:
Fund balances at	1 April 2020					509,219	82,685	170,803	762,707
Fund balances at	31 March 2021					1,158,406	(1,222,308	121,590	57,688

						Note		2022		2021
Fixed assets
Tangible assets						12			5,965,551		5,879,188
Investments						13			403,459		403,459
									6,369,010		6,282,647
Currerrt assets
Debtors						14	432,183			352,556
Cash at bank and in		hand					1,215931			1,379,001
							1,105,1	~		1,731,557
Creditors: amounts one year		falling		due		within 15	~590,190			478.157
Net current assets									1,147,925		1,253,400
Total assets less current			liabilities						7,516,935		7,536,047
Creditors: amounts		falling			due	after
more than one	year					16			79,917		161,711
									7,437,017		7,374,336
Defined benefit	pension		liabigty			17			(5,624,000)		(7,106,000)
Net funds									1,813,017		268,336
Funds
Restricted funds						19			110,069		121,590
Unrestricted funds:
Designated funds:						20
Fixed asset reserve							6,206,985			6,040,216
Pension Liability							(5,624,000)			(7,106,000)
Extras' fund							156,822			151,411
									739,807		(914,373)
Other charitable	funds								963,141		1,061,119
						21			1,813,017		268,336
The accounts were approved				by	the	Board on .2,E	...7. ALL
							Name
Trustee							Trustee
Company Number: 00419256									JDtt&	FLQTCHrrlE,

	Note	2022	2021
		6
Net cash flow from operating activities	22	574,153	822,268
Cash flow from investing activities
Paymenls to acquire tangible fixed assets		(491,069)	(301,513)
Proceeds on disposal oftangible fixed assets			3,177
Interest and investment income received		161	47
Net cash flow from investing activities		~400,000	298,289
Cash flow from financing activities Repayments ofborrowing		~00,404 ~00,404	76,663 76,663
Net increase in cash and cash equivalents		2,841	447,316
Cash and cash equivalents at 1 April 2021		1,492,774	1,045,458
Cash and cash equivalents at 31 March 2022		1,495,615	1492 774
Cash and cash equivalents consists of:
Cash at bank and in hand		1,495,615	1,492,774
Cash and cash equivalents at 31 March 2022		1,495,615	1,492,774

2	DONATIONS										2022	2021
	Designated funds										6,182	9,883
											6,182	9,883
	Restricted funds:
	Other restricted		donations		and	gifts					7,269	6,478
	Swiss RE										7,000	61,000
											14,269	67,478
	Total										20,451	77,361
3	CHARITABLE	ACTIVITIES							Unrestricted	Restricted	Total	Total
									funds	funds	2022	2021
									6	6	6	6
	Local Authority		Contract			Residential		care	4,440,421		4,440,421	4,424,315
	Local Authority		Contract			School			3,162,514		3,162,514	2,472,227
	Local Authority		Contract			Fostering			1,249,108		1,249,108	1,111,214
	Statutory Funding									576,544	576,544	565,575
									8,852,043	576,544	9,428,587	8,573,331
4	OTHER INCOME										2022	2021
											6	6
	Other income										2,859	928
	Job retention	scheme grants										65,978
	Profit on sale	offixed asset										3,177
											2,859	70,083
5	EXPENDITURE							Staff			Total	Total
								Costs	Direct costs	Support costs	2022	2021
								6	6		6	6
	Costs ofraising			funds
	Fundraising								771		771	482
									771		771	482
	Chaditable activities
	Residential care					2,749,357			1,420,994	839,126	5,009,477	4,737,323
	School					1,609,037			1,196,444	359,626	3,165,107	2,493,160
	Fostering						297,759		747,116	119,249	1,164,124	878,347
	Taxation											3,146
	Total charitable			activities		4,656,153			3,364,554	1,318,001	9,338,708	8,111,976
	Total expenditure					4,656,153			3,365,325	1,318,001	9,339,479	8,112,458

6	SUPPORT COSTS			Residential				Total	Total
					School	Fostering		2022	2021
				6	6		6	6	8
	Management			630,285	307,416	72,144		1,009,845	834,222
	Finance			117,702	29,426	6,051		153,179	143,140
	IT			48,762	12,190	28,801		89,753	78,472
	Human resources and	training		42,377	10,594	12,253		65,224	67,403
				839,126	359,626	119,249		1,318,001	1,123,237
7	GOVERNANCE COSTS							2022	2021
									8
	Staff costs							71,900	68,100
	Travel and subsistence							3,110	252
	Auditors' remuneration							19,800	16,000
	Auditors' remuneration	-prior year under provision						2,840	2,420
	Auditors' remuneration	-subsidiary						7,140	6,216
	Legalfees							2,297	4,494
								107,087	97,482
	Governance costs are	included	within	support costs detailed above and have			been	allocated on the	basis oftime
	spent in respect ofstaff costs and direct apportionment				basis for other costs,
8	NET MOVEMENT IN FUNDS							2022	2021
								6	6
	This is stated affer charging
	Depreciation oftangible	fixed assets						404,708	347,189
	Amortisa6on							30,200	30,200
	Auditors' remuneration	(including	subsidiary)					29,780	24,636
	Profit on disposal oftangible assets								(3,177)

EMPLOYEES
Employment costs				2022	2021
Wages and salary costs				4,332,887	4,146,344
Social Security costs				419,591	357,123
Apprenticeship levy				5,951	4,472
Pension costs - defined benefit				244,928	250,418
Pension costs - other				124,811	121,146
				5,128,168	4,879,503
Ths number ofemployees	whose annual	emoluments	were F60,000or more were:
				2022	2021
860,001 - F70,000				2	2
870,001 - 680,000				1
680,001 - F90,000				1
890,001 - 6100,000
6100,001 - F110,000

INTANGIBLE ASSETS	Goodwill	Total
Group	8
Cost Ideemed cost
As at 1 April 2021 and at 31 March 2022	151,463	151,463
Amortisation
As at 1 April 2021	60,400	60,400
Charge for period	30,200	30,200
At 31 March 2022	90,600	90,600
Net book values
At 31 March 2022	60,863	60 863
At 31 March 2021	91,063	91,063

TANGIBLE ASSETS Group and Charity	Land and buildings	Improvements to buildings	Fixtures, fittings and equipmentf	Motor Vehicles	Total
Cost Ideemed cost
As at 1 April 2021	7,652,623	466,758	1,421,275	176,472	9,717,128
Additions		133,781	330,694	26,594	491,069
Disposals				(24,727	(24,727
At 31 March 2022	7,652,623	600,539	1,751,969	178,340	10,183,471
Depreciation
As at 1 April 2021	2,517,018	269,921	924,175	126,826	3,837,940
Charge for period	152,078	46,676	184,929	21,024	404,708
On disposals				(24,727)	24,727)
At 31 March 2022	2,669,095	316,597	1,109,104	123,124	4,217,921
Net book values
At 31 March 2022	4,983,527	283,942	642,865	55,217	5,965,551
At 31 March 2021	5,135,606	196,837	497,100	49,645	5,879,188

		2022f	2021f
Cost		1,578,982	1,578,982
Accumulated	depreciation	593,286	(561,707
At 31 March	2022	985,696	1,017,275

FIXEDASSETINVESTMENTS		Shares in
	Listed	subsidiary
	investments	undertaking	Total
Group 2022	5 2,459	5	5 2,459
Historical cost:
At 31 March 2022	1,008		1,008
At 31 March 2021	1,008		1,008
Charity Market value at 1 April 2021 and at 31 March 2022	2,459	f 401,000	5 403,459
Historical cost:
At 31 March 2022	1,008	401,000	402,008
At 31 March 2021	1,008	401,000	402,008

The trading results ofCaldecott Fostering	The trading results ofCaldecott Fostering	The trading results ofCaldecott Fostering		Limited forthe year ended 31 March 2022 are as follows:
				2022	2021
				8
Turnover				1,249,108	1,101,214
Other operating	income				10,000
Cost ofsales				(662,772)	(576,421)
Administration costs				454,648	(333,205
Operating surplus		forthe period		131,688	201,588
Corporation tax					(3,146)
Distributions to parent charity under gift aid				(51588)	150,000
Retained surplus		for the period		80,100	48,442
The assets and	liabilities ofthe subsidiary		at 31 March 2022 were:
Current assets				288,597	197,678
Current liabiliTies				109,210	98,391
Aggregate share		capital and reserves		179,387	99,287
Share capital				2,000	2,000
Profit and loss reserve				177,387	97,287
				179,387	99,287

14	DEBTORS									Group		Charity
										2022	2021	2022	2021
											6		6
	Trade debtors								373,742		345,818	304,833	282,755
	Other debtors								17,405		43,103	17,405	23,261
	Amounts due from		subsidiary			undertaking						4,619	3,118
	Prepayments and		accrued		income				105,326		43,422	105,326	43,422
									496,473		432,343	432,183	352,556
	Amounts falling	due aher		more than one year			and	included		in the debtors above are:
										2022 6	2021 6	2022f	2021f
	Other debtors									6,368	6,917	6,368	6,917
15	CREDITORS.'AMOUNTS				FALLING DUE
	WITHIN ONE YEAR									Group		Charity
										2022	2021	2022	2021
										6	6		6
	Bank loans									81,107	79,718	81,107	79,718
	Trade creditors								199,736		125,360	160,609	ee,630
	Taxes and social security				costs				115,934		97,178	106,449	93,118
	Other creditors								195,445		187,298	139,468	139,816
	Accruals									72,554	82,874	72,555	76,875
									664,778		572,427	560,190	478,156
	The bank loan	and overdraft				are secured over	Caldecott House.
16	CREDITORS:	AMOUNTS			FALLING DUE AFTER
	MORE THAN	ONE YEAR								Group		Charity
										2022 6	2021 6	2022 8	2021 f
	Bank loans									79,917	161,711	79,917	161,711
	Analysis ofloans
	Wholly repayable		within	five		years			161,025		241,429	161,025	241,429
	Included in current		liabilities							81,107	79,718	81,107	79,718
										79,917	161,711	79,917	161,711
	The bank loan	is secured			over Caldecott House.
	The loan financing		is in the			form ofa secured	loan		with a fixed interest		rate of3.9% and is due for		repayment
	in February 2024. The loan					has financial covenants			which may require		the loan to be repaid in full.		During the
	year these covenants were met.
	Loan matudity	analysis								Group		Charity
										2022	2021	2022	2021
										6	6	6	6
	Debt due in one year or			less						81,107	79,718	81,107	79,718
	In more than one		year but not more than two				year:			79,917	82,883	79,917	82,883
	In more than two years but not more than five										78,828		78,828
									161,025		241,429	161,025	241,429

Fund at	31 March 2022.	31 March 2022.	31 March 2022.
Principal	actuarial assumptions									2022	2021
Rats ofincrease in salaries										4.20	3.85
Rate ofincrease in pension			payment							3.20	2.85
Discount	rate									2.60	2.00
Inflation	accumption -	DPI								3.20	2.85
The current mortality		assumptions		include	sufffcient	allowance		for future		improvements in mortality	rates. The
assumed	life expectations		on retirement age		65are:
										2022	2021
Retiring Males	today									21.6	21.6
Females										23.7	23.6
Retiring	in 20years
Males										23.0	22.9
Females										25.1	25.1
Sensitivity analysis
Scheme	liabilities would have been			affected	by changes		in assumptions		as	follows:
										2022	2021
Discount	rate +0.1%									-562	-591
Discount	rate -0.1%									+575	+605
Mortality	assumption	+ 1 year								+1106	+1198
Mortality	assumption	- 1 year								-1061	-1148
Long term salary +0.1%										+27	+29
Long term salary -0.1%										-27	-29
Adjustment to pension		increases +0.1%								+543	+570
Adjustment to pension		increases -0.1%								-532	-558

PENSION AND	OTHER POST-RETIREMENT BENEFIT COMMITMENTS	OTHER POST-RETIREMENT BENEFIT COMMITMENTS		(Continued)
The Foundation's		share ofthe assets in the scheme were:
			2022f	2021f
Equities			13,591,000	13,430,000
Bonds			2,915,000	2,605,000
Property			2,480,000	2,159,000
Gilts			129,000	124,000
Other assets			436,000	1,034,000
Absolute return	fund		1,562,000	1,505,000
Total market value		ofassets	21,113,000	20,857,000

The actual return on sch	eme assets was f434,000(2021:f4,8	71,000).
Amount recognised in	the Statement ofFinancial Activities		2022f	2021f
Current service cost			173,000	141,000
Net interest cost			140,000	135,000
Administration expenses			12,000	13,000
Total operating charge			325,000	289,000
Changes in the present	value ofdefined benefit obligations	were as follows:	2022f	2021f
At 1 April 2021			27,963,000	22,225,000
Current service cost			173,000	141,000
Interest cost			555,000	516,000
Change in financial assumptions			(1,589,000)	6,180,000
Change in demographic	assumptions			(245,000)
Experience loss on defined benelit obligation			63,000	(342,000)
Estimated benefits paid			(452,000)	(540,000)
Contributions by Scheme	participants		24,000	28,000
At 31 March 2022			26,737,000	27,963,000
Changes in the fair value ofcharity's share ofscheme assent:			2022f	2021f
At 1 April 2021			20,857,000	16,432,000
Interest on assets			415,000	381,000
Return on assets less interest			19,000	4,490,000
Administration expenses			(12,000)	(13,000)
Employer contributions			262,000	79,000
Contributions by Scheme	participants		24,000	28,000
Estimated benefits paid			(452,000)	(540,000
At 31 INarch 2022			21,113,000	20,857,000

The income funds	The income funds	of	of	the charity	include	restricted	funds	comprising	comprising	the following	unexpended	balances of
donations and grants			held on trust		for specific purposes:
											Transfers
					Balance at 1						between	Balance at 31
CURRENT YEAR					April 2021		Income		Expenditure		funds	March 2022
						6		8		6	8
Holidays / Camps	/ Trips					6,377	3,000			(6,714)		2,663
Independent Living fund					11,921							11,921
Sponsor a book						773						773
ESFA					23,288		538,948			(535,484)		26,752
Other fundraised	funds					10,704				(1,205)		9,499
Pupil premium					31,459		37,596			(50,999)		18,056
Care leavers hardship				fund		7,135						7,135
Smeeth School Resources						721	4,269			(722)		4,268
Fledborough Therapy			Centre			3,280						3,280
Forest School					22,429							22,429
Swiss RE						339		7,000		(7,210)		129
Other						3,164						3,164
					121,590		590,813			602,334		110,069
											Transfers
					Balance at 1						between	Balance at 31
COMPARATIVE	YEAR				April	2020	Income		Expenditure		funds	March 2021
						6					8	6
Holidays / Camps	/ Trips					7,265		2,300		(3,188)		6,377
Independent Living		fund				11,921						11,921
Sponsors book ESFA						2,474 31,848	542,458			(1,701) (507,500)	(43,518)	773 23,288
Other fundrsised	funds					12,461		6,178		(7,935)		10,704
Pupil premium						15,563	23,117			(3,765)	(3,456)	31,459
Care leavers hardship				fund		7,135						7,135
Smeeth School Resources						721						721
Fledborough Therapy				Centre		3,280						3,280
Forest School						69,971				(3,084)	(44,458)	22,429
Swiss RE							59,000			(58,661)		339
Other						8,164				5,000		3,164
					170,803		633,053			590,834	91,432	121,590

							Balance at
	Balance		at 1	New	Designations	Transferal	31 March
CHARITY-CURRENTYEAR	April		2021	designations	released	Gains	2022
			6	6	6		6
Fixed asset reserve	6,040,216					166,769	6,206,985
Pension reserve	(7,106,000)					1,482,000	(5,624,000)
Extras' fund		151,411		6,182	(771)		156,822
		(914,373)		6,182	(771)	1,648,769	739,807
							Balance at
	Balance		at 1	New	Designations	Transferal	31 March
CHARITY - COMPARATIVE YEAR	April		2020	designations	released	Gains	2021
			6	5		6
Fixed asset reserve	6,009,612					30,604	6,040,216
Pension reserve	(5,793,000)					(1,313,000)	(7, 106,000)
Extras' fund		143,808		9,883	(2,280)		151,411
		360,420		9,883	(2,280)	(1,282,396)	(914,373)
The fixed asset reserve - represents	the net	book	value	offixed assets	held net ofany associated borrowings.
The pension reserve - represents the pension		scheme liability at the year end.
The Extras fund - to be used for additional activities over				and above those funded by core		funding.
ANALYSIS OF NET ASSETSBETWEEN FUNDS				Unrestdicted	Designated	Restricted	Total
CURRENTYEAR				fundsf	funds 6	funds 6
Fund balances at 31 March 2022 are represented			by:
Intangible fixed assets					60,863		60,863
Tangible fixed assets					5,965,551		5,965,551
Investments					2,459		2,459
Current assets				1,724,198	157,822	110,069	1,992,089
Creditors: amount falling due within	one year			(583,671)	(81,107)		(664,778)
Creditors: amount falling due after more than		one	year		(79,917)		(79,917)
Defined benefit pension					(5,624,000)		(5,624,000)
COMPARATIVE YEAR				Unrestricted	Designated	Restricted	Total
				funds	funds	funds
				6	6	6
Fund balances at 31 March 2021 are represented			by:
intangible fixed assets					91,063		91,063
Tangible fixed assets					5,879,188		5,879,188
Investments					2,459		2,459
Current assets				1,652,116	151,411	121,590	1,925,117
Creditors: amount falling due within	one year			(492,711)	(79,718)		(572,428)
Creditors; amount falling due after more than		one	year		(161,711)		(161,711)
Defined benefit pension					(7,106,000)		(7, 106,000)

22	RECONCILIATION	RECONCILIATION	OF	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	TO NET CASHFLOW FROM	TO NET CASHFLOW FROM	TO NET CASHFLOW FROM	OPERATING ACTI)/TIES	OPERATING ACTI)/TIES
										2022	2021
										f	f
	Net income for year									112,579	608,364
	Interest and investment			income receivable						(161)	(47)
	Depreciation oftangible			fixsd assets						404,708	347,189
	Amoriisation ofgoodwill									30,200	30,200
	(Profit) on disposal	offixed assets									(3,177)
	Decrease in debtors									(64,130)	(89,981)
	Increase/(decrease)		in creditors							90.957	70,280)
	Net cash flow from	operafing			acfivities					574,153	822,269
										Noncash	At 31March
23	ANALYSIS OF CHANGES				IN NET DEBT		At 1 April 2021		Cash flowf	changes f	2022 f
	Cash at bank and	in	hand					1,492,774	2,841		1,495,615
	Bank overdrafts
								1,492,774	2,841		1,495,615
	Debt due within one		year					(79,718)	80,404	(81,794)	(81,108)
	Debt due affer one	year						161,711		81,794	79,917
								(241,429)	80,404		(161,025)
								1,251,345	83,246		1 334591
4	FUTURE COMMITMENTS
	Operating leases
	Total future minimum		lease payments			under non-cancegable		operating leases are as follows:
	Group							Land and bugdlngs		Other
								2022 f	2021 f	2022f	2021
	Within one year							49,000	45,400	4,770	6,882
	Between two and five yearn							196,000	181,600	3,845	8,616
	In over five years							526,750	488,049
								771,750	715,049	8,615	15,498
	Charity							Land and bu/(dinge		Other
								2022 f	2021 f	2022f	2021
	Within one year							49,000	45,400	4,195	6,114
	Between two and five		years					196,000	181,600	3,845	8,040
	In over five years							526,750	488,049
								771750	715049	8,040	14,154