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2021-03-31-accounts

Annual Review and Annual Report for the year ended 31 March 2021

Caring through crisis

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Overview
could have choices about how they live.
24 hours a day.
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Caring through crisis

Contents

Contents Contents
Welcome from the Chair of Trustees 4
Our year in numbers 6-7
Our operational response to Covid-19 8-11
Operational developments 12
Training and development 13
Sector expertise 14-15
Involving the people we support 17-19
Supporting people through uncertain times thanks to
the generosity of our many and wonderful donors 20-21
Hft strategy and transformation 22
Looking ahead 23
Reference and administration details 24
Structure, Governance & Management 25-30
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Achievements & Performance 32-40
Consideration of Directors Responsibilities 41
Financial Review 42-45
Plans for Future Periods 46
Statement of Trustees’ responsibilities 47
Independent Auditors’ report to the members of HF Trust Limited 48-50
Consolidated Statement of Financial Activities 51
Balance Sheet 52
Cash Flow Statement 53
Notes to the Financial Statements 54-82

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Welcome from the Chair of Trustees

Reflecting back on 2020-2021, Hft, like many other organisations, has had to face the full force of the pandemic head-on. Our staff teams have been under huge pressure as they have endeavoured to meet the daily challenge of providing care, safety and reassurance for the people they support, as well as managing personal challenges at home in keeping themselves and their loved ones safe and well.

support, with our charitable status and expertise as a provider of homes. This has led us to reconsider how we are structured internally. Our Executive Board is now supported by seven Chief Officer roles which includes the addition of a Chief Quality and Governance Officer. Our newly configured Board of Trustees and Trustee Sub-Committees means that we have a united approach and are set up appropriately to support our plans for transformation.

At the start of the pandemic, we quickly established a Pandemic Committee to bring key operational and central support teams together to ensure a swift and effective organisational response. This group, led by the Executive Board, has been instrumental in steering Hft safely through this incredibly difficult period. The Board of Trustees extends its heartfelt thanks to everyone who has played their part in keeping our teams and the people they are supporting across our services safe during a time when nothing has been ‘normal’.

In this pandemic year, I’d like to offer a sincere thank you to everyone for all you have done and continue to do to help us build towards Hft’s future. I hope this review demonstrates what we’ve still been able to achieve for the people we support across our services, despite the challenges of the Covid-19 pandemic.

Amid this backdrop I was delighted to welcome Becs Gratton as Executive Director of Operations to Hft in June 2020, Mel Corish as Director of Change in September, and Kirsty Matthews as Hft’s new CEO in December. These senior appointments marked the start of a new era for Hft as plans for our transformation began.

Much work had already been carried out against our previous strategic plan and looking to the future our critical drivers remain very similar. However, there is a keen commitment and recognition from Trustees to balance who we are as a well-established provider of care and

Amanda Bunce Chair of the Hft Board of Trustees

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

2020-2021 Our year in numbers

OVER 2200 people (as of supported 18/05/21)

380 people involved with our Luv2meetU service

6 video resources created providing accessible information on Covid-19

Total Income £84,985,000:

£81,673,000 Services £1,877,000 Fundraising £1,435,000 Other

90% of services registered with the CQC rated as either Good or Outstanding (as of 31/03/21)

2050 virtual Luv2meetU events held

433 people advised by our Family Carer Support Service

Total Expenditure £86,002,000:

£82,464,000 Services

£1,200,000 Fundraising £2,338,000 Other

40 people £1.9m we support attended attended raised by Hft

our 4 virtual national supporters to Voices to be Heard fund our charitable services

we support attended attended our 4 virtual national Voices to be Heard meet ups

6 people we support joined

33 people

we support attended a training workshop to help them get more involved in staff recruitment

our Walk in Our Shoes lived experience policy and campaigns steering group

205 IT tablets provided to people we support during Covid-19 to support communication with family and friends

482 items of

new Personalised Technology installed

in people’s homes and 74 items loaned to services during Covid-19

More than 3,100 staff working across our services

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Our operational response to Covid-19

Covid-19 has presented a huge challenge for all social care providers as we have had to respond and adapt quickly to ensure the safety and wellbeing of our staff teams, the people we support, and their families. A multi-department Pandemic Committee met daily at first to review policy changes and critical issues, and to respond to constantly changing guidance. This soon evolved into three sub-committees looking at specific parts of our response.

Our regions created tailored business continuity plans, based on local requirements and the unique needs of the people we support in that service. Regular communication was essential with our teams on the ground, to provide them with updated guidance on the best way to protect the people we support.

support, developing new outreach services for those who were isolated at home, or making regular support calls to their families.

Our supported employment offering was also affected; whilst some interns and graduates from Hft’s Project SEARCH programmes continued working in key worker roles, others were furloughed by their employer. We adapted by offering development sessions via online platforms, and remote rotation opportunities; working on collaborative work-based projects, and providing support to apply for jobs and attend interviews.

Internal processes changed rapidly with lockdown, as some of us adapted to working from home to ensure the organisation could keep functioning. Our IT team brought forward the rollout of Microsoft Teams to enable virtual meetings and information sharing that would be so important to see us through the pandemic.

Access to Personal Protective Equipment (PPE) was a challenge at first, but our estates team worked hard to ensure we were able to source the stock we needed to keep people safe. Later, we were also able to access government grants which helped us to keep all staff employed and protect them with PPE.

With meetings switching to become virtual, we were able to support many of our family carers in meetings with their local authority. The feedback from this has been overwhelmingly positive, with one family carer saying:

That was the most pleasant and positive meeting I’ve had with a group of professionals since my relative first went into care 20 years ago – thank you for your remarkable assistance.

We also launched our Pandemic Appeal fundraising campaign, to ensure staff and the people we support had access to vital supplies and services. To date more than £160,000 has been donated.

Staff shielding and sickness, and the need to limit movement between houses, meant we needed careful rostering and more relief staff and volunteers. A bespoke recruitment campaign, ‘Care to join us?’, was launched to promote our vacancies to those temporarily unemployed or out of work as a result of the pandemic. The campaign drove a 57% increase in visitors to our job pages helping to boost our relief bank and ensure we could continue to deliver critical services.

Once vaccinations became available, we did all we could to promote uptake of the vaccine, including responding to Public Health England’s request for details about all our care and support colleagues to make sure they were included in the early wave of vaccinations. We also provided resources to inform both staff and the people we support of the importance of the vaccine, how to access it, and to address any safety concerns they had.

Most of our Day Services were forced to close during lockdown, and these staff found their jobs changed overnight as many took on new roles in services to help provide additional cover in our accommodation-based services. Teams worked creatively to continue providing much-needed

Hft’s commitment to listening to an informed employee voice has continued through engagement with the network of employee representatives in our Partnership Forum. Representatives meet regularly both locally and nationally, working in partnership on key issues

Each of us is more than someone who works in social care, we are mothers and fathers, sisters and brothers, daughters and sons, husbands and wives, and each of us has had to deal with the other part of our lives as well as the role we play whilst in work. I have spoken to members of our teams that have seen family members lost to this virus, and those who remain with them but changed forever by its effects. We all have more than one story to tell about this pandemic and I am, as always, humbled by my colleagues for their astonishing resilience in the face of near insurmountable difficulties. I can only begin to try to find the words to say thank you.

affecting Hft, as well as providing support for colleagues. Representatives have been crucial in providing insight into the challenges faced over the pandemic and as a sounding board in shaping our strategy.

Joining in the middle of the pandemic and at the end of the first lockdown, I was not in the least bit surprised to find a dedicated group of social care Becs Gratton workers that were Chief Operations Officer putting others before themselves in the most extraordinary way, every day. I saw staff travelling across areas to support services who had been hit hard by outbreaks of the virus, staff who were moving into services to support small groups of vulnerable people to ensure that they were protected by not having lots of traffic through their homes, staff who moved into hotels so that they could continue to work and stay away from their families to keep those vulnerable members protected.

Safe to say that social care workers remain my favourite brand of hero.

Very sadly, during the pandemic 14 people we support and one member of staff passed away. We extend our sympathy and condolences to their loved ones, and their support teams who cared for them during this time. All are greatly missed from their communities.

Sarah Grice, Hft Flintshire

The temporary closure of Flintshire’s day services meant that many people were left isolated and without the support they were used to. In response, Sarah, who normally works as a job coach, began to offer outreach support for people at home, providing a vital lifeline for them.

This included supporting one gentleman living alone who, as well as having his work placement suspended, was unable to see his partner and family. Recognising that he was struggling to cope and even experiencing suicidal/depressive thoughts, Sarah did everything she could to ensure he got the support he needed, increasing her contact with him and ensuring he always had someone to talk to when needed.

Sarah also played a key role in the provision of virtual day services, hosting a weekly Zumba class and voluntarily giving up her Saturdays to run talent shows and exercise classes. From providing additional support to help maintain relationships, to picking up shopping and hosting online sessions, Sarah’s creative approach and dedication ensured the mental wellbeing of the people at the service was supported.

Our recruitment campaign drove a 57% increase in visitors to our job pages.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Staying connected

Helping people to adjust and to stay in touch with families and friends

Throughout the pandemic we created a number of accessible videos to help people with learning disabilities understand what might happen if they caught Covid-19, through to information on testing and vaccinations.

Lockdown restrictions meant that the people we support could not go out and do the things they usually enjoyed. For some, especially those with more complex needs, this was a very difficult time. Our staff teams worked tirelessly to support people, and found innovative ways to help them understand the restrictions.

We surveyed families of those we support after the initial lockdown and 89% of the respondents made positive comments about the way staff supported their relative, with 64% saying that there was ‘nothing’ we could have done better. One person said:

The staff have been amazing, and I cannot thank them enough for their care.

Fully aware that the past year was a time of great concern to families of the people we support, we also provided them with regular updates on the steps we were taking to keep their relative safe at this time.

The infection control measures in place to keep people safe, and the associated need to reduce the number of people entering households, meant families could not visit relatives initially – access was risk assessed on a person-centred basis later on. Families were very patient during this trying time as our teams worked hard to help the people we support maintain these important relationships, thinking creatively and using technology to keep in touch. Wherever possible outdoor visits were facilitated, including the use of meeting pods and screened visits.

Our Luv2meetU service was adapted to offer telephone and online/digital social events, allowing us to transform our service and enable members to stay in contact with each other.

from Gus

I would like thank the staff that

helped and supported me through this difficult year. They are nice, kind, caring, sweet, respectful and they go out of their way to help in any way they can. I have been recommending Luv2meetU to family and friends where I can to help let people know about the service. I am a new member and I appreciate all the support and advice, and having someone talk to in this difficult time we are all in.

Interaction hubs in Cheshire and Merseyside

People we support in Cheshire and Merseyside were able to safely enjoy the company of their loved ones throughout the pandemic, thanks to 11 new ‘interaction hubs’ set up to allow families to spend time together safely while still following government guidelines.

The specially designed wooden gazebos contained lights, heating and benches, allowing people to shelter from the weather, and were complete with markings to help with social distancing. The hubs have been particularly popular with people who have previously suffered from low moods when poor weather meant family visits had to be cancelled.

Looking after our teams

Celebrating our Hft Heroes

People’s Choice Award Winner: Joanne Jones, �������������

In recognition of this challenging pandemic year we relaunched our annual staff awards as ‘Hft Heroes’ awards. A ‘People’s Choice’ award was also introduced for the first time which attracted a huge response from families and the people we support who nominated their own Hft Heroes.

and Derbyshire

David was admitted to hospital early in the pandemic and later diagnosed with Covid-19. With a ban on all hospital visitors, national travel restrictions, and hotels closed, as his condition deteriorated he faced the very real prospect of dying alone.

Unfortunately, due to lockdown restrictions, it was not possible to run face-to-face presentations for the awards. Instead we decided to celebrate in a Covid-safe way, with Kirsty Matthews, our CEO, and Trustees making congratulatory calls to winners and runners up. Surprise letterbox hampers to winners, in addition to the standard monetary award were also sent.

Jo ensured this did not happen. On his final night, she sat holding David’s hand, juggling two mobile phones on speakerphone to enable his family to have a final conversation with him – one that was full of laughter and tears.

Thanks to Jo, David spent his final hours comfortably and was able to share a final priceless family moment on the phone. David’s sisters, who nominated Jo for this award, said:

Jo’s devotion to David went beyond anything we could reasonably expect of Hft - she did what family would do.

Wellbeing resources

As our own Sector Pulse Check research has shown this year, the pandemic has had a significant impact on everyone. Care and support teams have worked intensively, with the discomfort of wearing full PPE throughout the day, dealing with uncertainty, illness and sadly in some cases bereavement. We were very mindful that our teams also had their own families and relatives at home affected by the pandemic as well as the people they cared for in our services and that this was going to have a long-term impact on them. To help address this important issue we offered bespoke wellbeing training, created a new wellbeing

information Hub and set up a ‘Check in and Chat’ support service for colleagues who were shielding. A dedicated fund to help support staff facing financial difficulties was also launched. Engaging with our Partnership Forum and working with focus groups has helped inform and shape our wellbeing strategy.

Our Trustees sent personalised thank you cards and notes of encouragement to staff teams across our services, and a Random Acts of Kindness fund enabled local managers to thank their teams in whatever way was needed to help boost morale.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Operational developments

The pandemic has forced everyone to think differently about the way they do things and their plans for the future. Like all care providers, we have needed to be agile and responsive to the challenges we have faced to ensure we are doing the very best we can to keep the people we support and their families safe, as well as our colleagues and their families during this critical time.

Over the last year we have used our learnings from the pandemic to inform the wider review of our services that was initiated by our new Chief Operations Officer, Becs Gratton, when she joined Hft. This has prompted us to re-evaluate our direction and refocus our strategic efforts and commitment on improving, modernising and innovating our current services for those people who are already part of our family.

the impact assessment process across all of our services. We have engaged with Learning Disability England to work with us to develop a robust organisational methodology to support us becoming an organisation that is determined to have co-production and consultation at the forefront of the way we work with the people we support.

While the pandemic has undoubtedly brought additional challenge and pressure, these continue to be underpinned by the longstanding and unresolved issue of the underfunding of social care. Like other learning disability providers contributing to our Sector Pulse Check research, the need to make difficult decisions has continued this year as we have struggled to balance the long-term financial sustainability of some services, such as Rowde in Wiltshire, with the challenge of providing high-quality person-centred support for those living there.

Each of our services will be reviewed and assessed on its own merits, to take in to account the individual needs of the people at that service and balance these with the charity’s need to provide financially sustainable services. We understand the importance of engagement and co-production with all involved as future plans are developed, and that there is more work for us to do in this area. In recognition of this we will be introducing a new Policy Development Manager to review all of our policies from a family involvement perspective, and to support

Quality of the care

We continue to follow the principles of our Fusion Model of Support across our services which underpins for us what excellent care and support, and the best life possible means for people with learning disabilities.

Our Quality strategy for the past year has been to continue to strive for a ‘Good’ CQC rating as a minimum across all of our services. Our Quality Assurance team has been working closely with our operational teams to support them as they balance the demands of the pandemic with the need to provide high-quality services, and our quality performance remains above the sector norm.

Training and development

Hft ranked as the 11th best apprenticeship employer in the country

We were absolutely thrilled to be revealed as number 11 in the Top 100 Apprenticeship Employers 2020, the highest ranked charity and social care provider in the government’s list, which celebrates employers from a wide range of industries across both the public and private sectors.

care and management, but also in areas such as administration, IT and accountancy. Sue Hill, Hft’s Head of Organisational Development, said:

Professional development is extremely important to us and we strive to offer exemplary learning and development opportunities for all staff. Apprenticeships are an important part of this, as they offer a structured framework for staff to gain skills in numeracy and literacy, as well as nationally recognised qualifications for those who are new to the sector or may want to further their careers.

Apprentices account for around 20% of Hft’s workforce and are focused on gaining skills, experience and qualifications while earning a wage. The first apprentice funded by the government’s Levy scheme joined in August 2017; today there are more than 600 apprentices across the organisation taking part in nationally recognised training and development programmes to start or further their careers, predominantly in social

You have demonstrated consistently that continuous improvement is embedded in the Hft culture, and even though the full assessment has not gone ahead this year, you have provided an impressive range of documents showing the progress you have made over the preceding 12 months.

We’re still Silver! - Investors in People confirm our accreditation for another year

Following a strategic review, in April 2020 we were pleased to be re-awarded Investors in People (IIP) Silver accreditation, allowing us to continue to hold that badge for another year. This was extended for a further year in April 2021.

The recommendations received from IIP mean we can keep making changes that help us keep improving to provide the best experience possible for the people we support.

Silver is a great achievement - only 15% of organisations achieve silver and it means that the right principles are in place for driving an effective, supportive and consistent culture across the charity. Our IIP assessor said:

quickly flex provision to the virtual environment, ensuring staff can continue to be inducted into the organisation and receive support to complete their care certificates.

Hft successfully re-accredited as a Centre of Excellence for training

They have also helped support the wellbeing of the workforce, running virtual wellbeing sessions to give staff a forum to discuss how they are feeling and provide access to tools and techniques to help support their wellbeing and improve their resilience. Jackie Jones, our Interim Chief People and Organisational Development Officer, said:

In March 2021 we were delighted to learn that we’d retained our Centre of Excellence status from Skills for Care. We’re proud to say that we are one of only a very few charities who currently have this rating, which recognises that we’re giving our staff teams the best possible training, enhancing both the professional development of those who work for us and ultimately, the service received by the people we support.

To have done this during a pandemic and a full lockdown and to have maintained standards of excellence is nothing short of an amazing achievement.

Our Organisational Development Team have risen to the challenge during the pandemic to

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Sector expertise

Sector Pulse Check 2020

In our fourth financial snapshot of the health and social care sector, providers told us about the financial health of the social care sector over the previous year and some of the key issues it has faced.

Victoria Hemmingway Public Affairs and Policy Manager

Unsurprisingly, this year’s report focused heavily on the impact of the Covid-19 pandemic and highlighted the toll it has taken on the mental health of the social care workforce. According to the research, 62% of providers have seen a rise in absenteeism relating to mental health since the beginning of the pandemic.

Providers responded quickly to this development, with all offering some form of support to their invaluable workforce including signposting to resources, mental health awareness training and appointment of in-house mental health first-aiders. However, it is worth noting that care providers dug deep into their own pockets to fund this, despite the continued financial constraints faced by the sector at large. 56% of providers reported that in 2020 they were either in deficit or their surplus had decreased.

of providers 62% have seen a rise in employee absenteeism relating to mental health.

Concerningly, owing to these cost pressures, nearly two thirds (62%) of providers reported having to close down some parts of their organisation or hand back marginal contracts and services to their local authority over the past year. This is an increase from 45% the previous year. In addition, over one in ten (11%) were forced to offer care to fewer people and around one third had to make staff redundancies in 2020.

Around 1/3 of providers

In light of these findings, over the past year Hft has been calling on the government to recognise the efforts of the pandemic’s under-valued workforce, through investment in social care and finally bringing forward a long-term sustainable funding solution for the sector. This must ensure frontline social care staff have the mental health support they deserve and must also address the longstanding financial challenges of the sector.

have had to make staff redundancies for the past three years.

56% of providers

report they are either in deficit, with costs exceeding funding, or that their surplus has decreased slightly or significantly.

Personalised Technology team awarded £20,000 training grant from the Gloucestershire Digital Innovation Fund

June 2020 saw our Personalised Technology (PT) team awarded a £20,000 training grant from the Gloucestershire Digital Innovation Fund to train other adult social care providers in the area to harness the power of technology and use it to support people to live more independently.

Ben Williams, Personalised Technology Coordinator, said:

We’re thrilled to have received a grant that will allow us to increase awareness of the potential that personalised technology has to enhance the lives of people with learning disabilities. The Covid-19 pandemic has really demonstrated the importance of technology, with all of us leaning on it more than ever to stay connected. For many people with learning disabilities, it has become an absolutely essential tool in supporting with social distancing and self-isolation, reducing isolation and keeping safe.

This year’s Sector Pulse Check report revealed that the biggest barriers to providers using assistive technology were financial issues, with 75% of providers reporting a lack of funds for investment in technology, and a lack of awareness (reported by 59% of providers). Working in collaboration with Gloucester County Council, and setting out to overcome these challenges, our PT team are now able to provide vital training to providers in Gloucestershire, helping them to use technology to empower people they support.

The team will be working with local providers, reaching up to 100 members of social care staff in total. Training will focus on the types of technology available and the outcomes it can deliver, with a focus on cost efficient low-tech solutions. Case studies and demonstrations will be made available to bring the technology to life. Providers will also have the opportunity to loan some equipment and if successful will keep it.

Anthony - using technology to keep in contact with family.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Involving the people we support

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Dionne enjoying
the garden.
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Walk in Our Shoes group – a new lived experience policy steering group

It’s News to Us

We’re always looking for new ways to encourage involvement from people we support and give them a voice. Thanks to £4,000 of fundraised money from Funds for the Future we launched ‘It’s News to Us!’ a news show by and for people we support. People can borrow a video camera to record their own news feature, showcasing their talents and interests. It’s a great way for us to share information with the people we support too. The show is presented by Paul who has a keen interest in politics and current affairs. Paul says:

We are a new group and had our first meeting in March 2021. There are six people in our group and we want to run it ourselves. We talk about politics and recently we talked about local elections. We work together to make sure politicians hear what we have to say. If we don’t speak up politicians won’t know what our opinions are. We are hoping to run a campaign this year on loneliness and isolation. We want to raise awareness with the public and politicians

I like it because I watch the news a lot. It makes everybody smile, the carers smile and my family. I think it’s really exciting being on YouTube.

You can watch the show at:

www.hft.org.uk/itsnewstous

so people with a learning disability aren’t more likely to be lonely.

Voices to be Heard during the pandemic

Groups have been busy adapting during the pandemic so that people we support continue to have the opportunity to speak out and get

involved. 11 groups chose to move online, we hosted four national online events with Directors and Trustees and nine Covid-19 listening events, posted activity packs to people at home, and 15 members have regularly participated in other involvement opportunities. Members of the South West group said:

It was strange online at first but now it’s brilliant. It’s going really well. We’ve liked seeing faces and being independent. We’ve been talking about how we feel with the pandemic, and been catching up with each other and what’s happening at Hft. We’re looking forward to meeting in person again.

local groups have chosen to 11 continue meeting online listening events, where we sought feedback from the people we support about 9 their experiences of the past 12 months national meet ups online 4

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

We asked the people we support how Hft had supported them during the pandemic and how it had made them feel. Here are a selection of their thoughts:

Dear lockdown you’re a pain in the bum,

How I got supported

during lockdown by friends from Women’s Day Service - Zabina

I recieved a birthday card from womens day services. I was very happy.

I got flowers from the manager at the womans day services. I really like them.

In the lockdown my carer came to support me.

In the lockdown women day services let my friends phone me at home.

In the lockdown some guests came to see me, I was really happy.

Culture Fusion, Area 4 Bradford

Below is a picture completed by Arran from Culture Fusion.

Ponderosa House Day Services, Newcastle

Ponderosa House Day Services remained open for some at risk clients throughout Lockdown. Other attendees were supported with activity packs, quizzes, Teams catch-ups and competitions which were all judged virtually by our Property Surveyor for the North, Steve Aldegeur. Ellen said:

It was boring having nobody to talk to but I had the staff to natter to... I made an egg cup and an owl and did lots of paintings and I enjoyed the prizes I won… It was cushty belta being here.

Ellen - holding one of her winning entries.

Richard - picking up the Christmas cake ingredients last year which were donated by Sainsbury at Stobhill, Morpeth.

We supported Richard at home initially and then he returned to the centre around August time when restrictions were eased. Richard said:

Kevin and Sam dropped of packs at my house and I did drawings and made an owl out of clay. I enjoyed doing the competitions and I won some prizes.

Not being able to see my family and friends is not much fun, The only way that I can communicate is by message or phone, Without Ken here I would be well and truly on my poor own, I can’t wait for the day when you finally come to an end, Because it’s not just me who you are driving up the bend, When everything is back to normal I will have a smile on my face, Because everything has lately been strangely out of place, I feel like a prisoner that’s trapped inside my own home, Lockdown And at night I feel so lonely as I get to sleep on my own, Poem It’s my birthday next Tuesday and it will feel so strange this year, by Claire Not to be with my sister and her family who are to me so dear, There is one thing that I am looking forward to is meeting Ziggy for the first time, I am so happy for my sister and her family about Ziggy they are the best family of mine.

Hwb Cyfle, Flintshire

Hat made by Dougie Purple Flower display Thank You’ made by: made by: Sharna Stephen, Jenny, Mark and Patrick

Residential Service, Stroud

This is my lovely vegetable garden that I made with James. I have grown potatoes, broad beans, spinach and purple sprouting broccoli. I am growing parsley from seed too. I am very pleased with it. Robert

I did lots of gardening with Angie and sowed seeds and planted flowers and now I have a lovely flower display of my own. I love my garden. Sally

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Supporting people through uncertain times thanks to the generosity of our many and wonderful donors

When the pandemic hit, the fundraising team immediately refocused their efforts on lockdown-friendly activities, shifting to virtual events and launching an emergency appeal to channel funds specifically to support Hft’s Covid-19 response.

In total for the year we raised an incredible £1.9m, including Covid–specific funds, and we would like to thank the many supporters, friends, families, volunteers and staff for their generosity and commitment.

Emma MacDonald - at the Thank-a-thon

Going virtual

Divisional Fundraising

Sadly, Covid-19 restrictions meant that our annual Coming of Christmas events had to be cancelled. However, our supporters and performers rallied to help us put on a new online ‘Winter Warmer’ event, which was watched by audiences across the UK and the globe!

Sports & Challenges

With fundraisers like the London Marathon postponed or cancelled, we needed to quickly review our challenge event calendar to ensure things were Covid-safe and flexible enough to adapt to the changing lockdown restrictions.

In February 2021, Hft launched its first ever virtual event - the 1.4 challenge – designed to be safe, inclusive and fun! Themed around Valentine’s Day, people were encouraged to make a donation or create a fundraising activity based around the numbers 1.4 or 14. Rising to the challenge participants undertook activities ranging from 1.4 mile walks and 14 mile cycles, to 14 random acts of kindness and 14 minutes of waltzing.

Brilliantly hosted by Annabel Giles, the event featured readings from Juliet Stevenson and Michael Pennington and the incredible Choir of Magdalen College, Oxford. Best of all though, were the contributions from people we support who showcased their amazing talents with dances, stand-up comedy and storytelling.

The challenge raised an amazing £8,000 and is set to return in 2022.

The virtual nature of the event made it easy for new audiences to access Winter Warmer, and we intend to run this again in 2021 – as well as bringing back our Dorchester Abbey event (subject to Covid-19 restrictions).

Major Donors

Being able to show donors the impact of their support is really important to us. During the pandemic we took these visits to the virtual space, hosting an online briefing event for supporters and patrons to highlight the issue of loneliness and isolation for people with learning disabilities and how Hft is working to tackle it.

Emily - created 14 make-up looks for our 1.4 challenge.

Chelsea, a person we support who took part said:

I talked about how being in the house all the time has affected my independence and made me feel nervous about going out again. I also talked about how helpful the online events and activities have been and what I’ve enjoyed. It was important to be involved to help people understand the perspective of someone with a disability. I really enjoyed it and found it interesting.

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Chelsea
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Thank-a-thon

After a difficult year we want to say a massive THANK YOU to all our incredible donors and fundraisers for their support. In recognition of their efforts, we sent postcards, featuring a fabulous picture designed by Ellen Rutherford who

is supported at our Newcastle service, and shared special messages from celebrity patrons including Martin Clunes and Griff Rhys-Jones across Hft’s social media channels. CEO Kirsty Matthews and charity trustees also reached out to supporters though phone calls and emails.

Charitable Projects

With the majority of our income coming from local authority contracts, not everyone remembers that Hft is also a registered charity. However, increasingly local authority funding can only cover the bare minimum in support. We use fundraising to support projects that we believe are important in helping people to live the best life possible.

Hft Flintshire Virtual Day Centre

Providing meaningful activities and support when a pandemic has shut everything down is a huge challenge.

When staff at Hft Flintshire realised that lockdown would stop them being able to run a face-to-face day service for the people we support, they looked at how they could still provide a service for people at home, and drafted a plan to set up a virtual day centre. With the generous support of local funders, this brilliant idea became a reality, with a schedule of daily activities that could be run from a distance, but still be engaging and fun to participate in.

The grants we received were a lifeline, and meant that anyone who wanted to join in could do so. The funds provided activity packs for people to use to participate in activities at home, including immersive arts, growing, and cooking and baking. People could follow along and join in with what was happening live over video and chat with other participants too.

In 2020 and 2021 we delivered over 360 activity sessions in this way. The choice of activities was up to the people we support – a mixture of activities they would ordinarily take part in and new things too! The virtual day centre allowed people to keep their interests going and connect withlike-minded friends.

It has proved extremely popular and has enabled people to feel connected while stuck at home, combatting the loneliness and boredom that a lot of people with learning disabilities reported during lockdown.

Some of the feedback received:

The sessions are great, it’s nice to see my friends!

The disco is my favourite, it’s so much fun!

I look forward to the activities! It stops me feeling bored.

On behalf of the charity and the people we support at Hft Flintshire, we express our sincere thanks to everyone who has supported the launch of the Virtual Day Centre, especially WCVA Voluntary Services Emergency Fund, The E W Gladstone Charitable Trust and the Gladstone family, Cadwyn Clwyd (Rural Development Agency) and Deeside Support 4.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Hft strategy and transformation

In September 2020 Mel Corish, Chief Strategy, Transformation and Innovation Officer, joined Hft to begin the vital work of leading Hft through a period of transformation to support our new Corporate Strategy.

Our new strategy continues our ambition for the best life possible for people with learning disabilities. We will focus on delivering outstanding quality and experience across our core areas, providing excellent homes, innovative care and support and increasing our impact and reach as a charity.

We will achieve our strategy through a combination of strategic delivery plans and an organisation wide transformation programme that will create a step change in Hft’s capabilities. Our outline plans were shared with our Senior Leadership Team at a virtual away day in March 2021.

By working collaboratively with our staff teams and the people we support we will use their experience and insight to further develop our plans. Our aim is to drive an improvement in our financial performance, and increase our impact as a learning disabilities charity and provider of high-quality care and support and innovative homes.

The first stage of our transformation got underway in December, with the launch of Helix, our information systems and business process improvement programme.

I very much appreciate the time, commitment and contribution our people have given to Helix so far. It’s been great to see the positivity and enthusiasm of colleagues from across Hft to get involved with this work and embrace our plans for the future.

A dedicated internal programme team has been established, and together with our partner, Optimum PPS, they have been working collaboratively with more than 150 colleagues from across Hft to build a detailed view of our current systems, and our vision for the future.

A network of Internal Subject Matter Experts (SMEs) are working closely with the team to inform the redesign process and contribute in identifying the best solutions for us. Helix will simplify and ease access to important service data and streamline our administrative processes, providing more time for our care and support colleagues to reinvest back into doing the job they love - providing quality support for the people in our care.

I am looking forward to working with everyone over the next year as we move on to address other critical areas for our transformation including how we develop and grow awareness around our charitable status, and our expertise as a housing provider.

Mobile care recording will allow us to really improve how people can be directly involved in planning their care. Staff will be able to work through and update each person’s support plan alongside them, rather than having to rely on a computer back at their office base, with lots of new opportunities for people to play an active role in uploading photos, videos, and voice recordings. All of the people we support will also be able log in to their individual dashboard at any time, where they’ll be able to see their personal plan, care record, and any upcoming support. Joe Deverall, Partnership Forum Lead

Mel Corish, Chief Strategy, Transformation and Innovation Officer

Looking ahead

I am delighted to be concluding this year’s Annual Review – my first as Hft’s CEO – and would like to start by taking this opportunity to formally thank our incredible staff teams, volunteers and supporters for all you have done over this tumultuous year. You have played a pivotal role in supporting both the people in our care, and their families and carers throughout the pandemic.

equipment, and covered salaries for those who were sick or isolating, without having to furlough any members of staff.

Joining Hft through this time has meant I have been able to experience first-hand the true dedication and commitment of our teams to overcome everything that has been asked of them throughout the pandemic, to continue to provide the best possible care and support they can to the people they support.

The increase in our investment funds went some way to offset the delay in the sale of some of our surplus properties due to the pandemic. This will still be achieved in the longer term, and the cash position is not unduly impacted by this delay.

I have particularly enjoyed the opportunity to virtually meet the winners of this year’s Hft Heroes awards and hear first-hand from them about their experiences of supporting people during this time. From the discomfort and unfamiliarity of working in PPE, to the requirement to provide reassurance and emotional support to people who have been separated from their loved ones, to the need to find creative ways to keep the people we support connected with others – all have been new challenges they have had to overcome. Their determination and dedication have been both truly humbling and commendable.

We have got off to a strong start in delivering our future plans, with our Helix programme spearheading the transformation of our internal systems and processes. Helix will ensure that we are fit for purpose for the future, ultimately delivering more time back to our staff teams to spend with those we support. Behind the scenes work is also underway to partner with colleagues and the people who we support to ensure we are structured for success and have in place great governance, outstanding people, organisational excellence and financial sustainability.

We are grateful to staff teams for their flexibility as central offices closed and they moved to home working. We are reflecting on our learnings from this and consulting around how we can best work together in the future.

Our plans to involve Hft families more directly in our work unfortunately had to be postponed last year due to the pandemic, but the Hft Board, Executive Board and I remain committed to revisiting this and finding new ways to actively involve families in helping to shape our future direction.

Despite the challenge of Covid-19 I am pleased that we’ve still been able to maintain our high number of good or above CQC quality ratings this year, although we are keen to continue to strive for excellence across all of our services. Our work to transform Hft is multi-faceted. We remain committed to and passionate about delivering our mission: the best life possible for people with learning disabilities. However, we also recognise the need to balance our focus on providing specialist housing and growing our impact as a charity, with continuing to provide high-quality care and support services. To achieve all of this requires us to be financially sustainable across all that we do.

2022 provides a unique opportunity to come together as we celebrate our 60th year; we have been fortunate enough to also enjoy the support and patronage of HRH Princess Anne for 40 years. We look forward to marking these important milestones over the coming year.

Thank you to everyone for their warm welcome to Hft. I am excited by the opportunity we have to make a real and significant change in transforming how we support people to live the best life possible, and to ensure we can meet our longterm aspiration of being a provider of choice for adults with learning disabilities. I look forward to continuing to progress this work with you all over this comin g y ear.

The financial results for the year show a net movement in funds of (£129k) and an in-year cash surplus of £3.51m, and reflect the complexities we experienced. We managed to mitigate the worst of the financial impact of the pandemic, in terms of additional costs for e.g protective and support

Kirsty Matthews, CEO

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Reference and administrative details

Royal Patron

Principal Bankers

HRH The Princess Royal

Lloyds Bank plc Canons House Canons Way Bristol BS1 5LL

Trustees

Amanda Bunce (Chair) Briony Horvath (Vice Chair) Mary Ann Champion Lucy Pallett Simon Jones Brandon James (resigned 24.03.21) Paul Morgan John Devapriam Hilary Schrader Irfana Malik Timothy Tamblyn (appointed 27.05.21)

Auditors

RSM UK Audit LLP 25 Farringdon Street London EC4A 4AB

Solicitors

TLT Solicitors 1 Redcliff Street Bristol BS1 6TP

Executive Management

Kirsty Matthews (Chief Executive from 01.12.20) Becs Gratton (Chief Operations Officer from 27.07.20) Chris Hughes (Executive Director of Environments until 06.04.21) Louisa McCann (Chief Commercial Finance and IT Officer and Company Secretary until 02.08.21)

Investment Managers

Investec 2 Gresham Street London EC2V 7QN

Registered Office

5/6 Brook Office Park Folly Brook Road Emerson’s Green Bristol BS16 7FL

Jacqui Roynon (Executive Director of People and Communications until 05.02.21) Vanessa Edwards (Director of Fundraising until 05.04.21)

Mel Corish

Reference Details

(Chief Strategy, Transformation and Innovation Officer from 28.9.20) Kevin Moyes (Chief People and Organisational Development Officer from 26.07.21) Frances Genovese

HF Trust Limited often uses the abbreviation “Hft”.

The company is registered charity number 313069.

(Chief Quality and Governance Officer from 18.07.21) (Company Secretary from 02.08.21)

The company is registered in England and Wales as company number 734984.

Chief Charity and External Affairs Officer (from 04.10.21) Chief Commercial Housing Officer (from 11.10.21)

Media

hft.org.uk Hft Hftlearningdisabilities Hftlearningdisabilities Hftonline HftTV

Structure, Governance and Management

Report of the Board of Trustees

The Board submits its Annual Report and the Financial Statements for the year ended 31 March 2021. The Annual Report and Financial Statements have been prepared in accordance with the requirements of the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (‘FRS102’), and the Charities Act 2011.

Constitution and status

In addition, a member can be co-opted by Board to fill a Trustee vacancy during the year. Co-opted Trustees, if they wish to continue, have to either seek election at the first Annual General Meeting after their appointment or shall be eligible for appointment as a Nominated Trustee by the Board following such Annual General Meeting.

HF Trust Limited (“Hft”) is a company limited by guarantee (registration number 734984) registered in England and Wales and a registered charity regulated by the Charity Commission (registration number 313069). The company’s governing document is the Memorandum and Articles of Association dated 19 October 2019. Hft is a membership organisation and the liability of each member is £10. Trustees of Hft are either elected by the members or nominated and appointed by the Board of Trustees. Trustees are the Directors of the Company.

The total number of Trustees cannot be less than eight or more than fourteen. The Board of Trustees meets at least 4 times a year, and also holds an Annual General Meeting for members. The Executive Board also attend the Board meetings, together with other members of the senior staff management team as appropriate.

Organisational structure and governance

Board

Trustees cannot be members of staff and Trustees do not receive any remuneration or any other benefits from Hft other than payment of reasonable expenses.

The Board is made up of the Trustees of Hft appointed from the membership.

There are two categories of Trustee:

a) Elected: A minimum of four and a maximum of seven members who are elected by the Members. Each Elected Trustee is elected for a three-year term and can serve two terms in total. An Elected Trustee must then take a break from office for a period of one year and may only be appointed for a third or further period of office with the agreement of the Chair and the unanimous consent of the Board and re-election by the Members.

The Trustee induction process ensures that each Trustee is provided with a thorough and comprehensive understanding of Hft, our history, our services and the world in which we operate. The induction programme is also designed so each new Trustee has a full understanding of their role, their legal and other responsibilities and is aware of the commitment required throughout their tenure. Trustee training is delivered through a combination of e-learning, formal training courses and face to face meetings. Trustees receive an annual appraisal with the Chair and undertake an agreed number of service visits with follow up reports.

b) Nominated: A minimum of four and a maximum of seven members. Appointed by the Board for their expertise and can serve two terms in total. A Nominated Trustee must then take a break from office for a period of one year and may only be appointed for a third or further period of office with the agreement of the Chair and the unanimous consent of the Board.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Board Committees

The Board of Trustees delegates some of its powers and functions to standing Committees, each of which covers specific aspects of the Trust’s work.

Each Committee has its own terms of reference, and their reports and minutes are standing agenda items for the main Board meetings. Each Committee is chaired by a Trustee and is attended by appropriate senior members of staff. The Committees as at 31st March 2021 are as follows:

Operations
Committee
‘O’		 At least
4 times
a year		 • Review current and proposed Government policy, standards and
practice relevant to Hft
• Monitors the overall quality of the services delivered by Hft
• Review all aspects of Hft’s resources, finances, properties,
investments and people
• Oversees Hft’s marketing strategy in response to the changing
demands of the marketplace
• Oversees the current and proposed developments in Hft, ensuring
Hft’s on-going financial stability
• Review all aspects of the Trust’s fundraising strategy and operations
Nominations,
Governance &
Remuneration
Committee
‘N’		 At least
3 times
a year		 • Ensures Hft has an up to date governance model, maximising the
overall effectiveness of the Trust
• Responsible for the recruitment, evaluation, induction and on-going
training of Trustees, with a prime objective of ensuring an appropriate
balance of skills and experience on the Board of Trustees.
All new Trustees undergo a detailed induction programme and
sign up to a Trustees’ Code of Conduct. Trustees participate in
the detailed work of the Boards committees in line with their skills
and experience.
• Regularly assesses on-going Trustee training needs and ensures
these are met accordingly
• Reviews and determines the remuneration levels of the senior
management of the Trust by regularly benchmarking remuneration
levels with other similar organisations.
Audit & Risk
Committee
‘A’		 At least
3 times
a year		 • Responsible for reviewing Hft’s Annual Report and Financial
Statements prior to their approval by Board
• Oversees Hft’s relationship with the external auditors
• Responsible for ensuring that Hft has adequate and appropriate
systems of financial control
• Oversees internal audit and risk management both financial
and non-financial
• Regularly reviews and updates Hft’s risk register

Other committees and working parties are established from time to time, in order to address specific issues (for example pensions and investments). In addition, the Voices to Be Heard Advisory Group (V2bH) meets three time a year.

The Trustees who have served on Board and its Committees during the financial year and at the date of this report are:

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Name Committees Status (Re) Appointed Resigned
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Name Committees Status (Re) Appointed Resigned
Amanda Bunce (Chair) N Nominated 01/02/2018
Briony Horvath
(Vice Chair)		 A, N Elected 19/10/2018
Mary Ann Champion O Elected 19/09/2021
Lucy Pallett Nominated 25/06/2020
Simon Jones A Elected 20/10/2017
Brandon James O Nominated 01/11/2018 25/03/2021
Paul Morgan O Elected 19/10/2018
John Devapriam O Elected 20/06/2019
Hilary Schrader N Nominated 19/09/2019
Irfana Malik A, O Nominated 19/09/2019
Timothy Tamblyn Nominated 27/05/2021

In May 2021 the Board of Trustees adopted the Charity Governance Code. Over the next 9 months a number of governance changes will be made to ensure we comply to the Code by the 31st March 2022. These changes will include enhancements to the risk management framework recruitment of new trustees to plan for succession and to enhance the skills and knowledge of the Board, revised governance policies to further ensure our probity and transparency objectives can be meet; a revised committee structure to support the Corporate Strategy outcomes and governance resource to imbed the changes.

Operational structure

Related parties and subsidiaries

Operational management of service delivery is focussed through four geographical divisions into twenty-six regions made up of clusters of operating units which provide care services. Housing services are provided centrally along with all other support services. Fundraising operates as a separate division within the same corporate structure.

At the balance sheet date and throughout the year, Hft had two active, wholly owned subsidiary companies, which are both incorporated in the United Kingdom. Hft Trading Limited undertakes non-primary purpose trading activities, whilst Hft Property Limited has made no commercial transactions during the year.

In addition, Hft is the parent company of Luv2meetU Community Interest Company, which is incorporated in the United Kingdom and undertakes the activities of the friendship agencies.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Gender Pay Reporting

UK employers have until 4 October 2021 to report their data for 2020 to 2021 because of coronavirus (Covid-19). However, Hft has chosen to publish ours earlier than the deadline so that the information can be included in our annual report.

This report provides a snapshot of our gender pay data as of 5 April 2020. At that time, our total workforce consisted of 819 men and 2,452 women, meaning we employed around three times as many women as we do men – a circumstance that is not unusual in the social care sector and has not significantly changed since we started gender pay gap reporting in 2017.

Hourly pay

1. Mean gender pay gap in hourly pay

The mean gender pay gap in hourly pay is the average hourly rate of pay, calculated by adding the hourly pay rate for employees then dividing by the number of employees.

Based on the mean (average) hourly rate of pay for male and female employees in the relevant pay period, our mean gender pay gap is 4.7% (women lower).

According to the Office for National Statistics, the gender pay gap among all employees was 15.5% in 2020, down from 17.4% in 2019.

While Hft is not complacent about gender and pay, we note that our 4.7% gap is approximately a third of the size of the national gap.

2. Median gender pay gap in hourly pay

The median gender pay gap in hourly pay is the middle hourly pay rate, when you arrange your pay rates in order from lowest to highest.

Based on the median (middle) hourly rate of pay for male and female employees in the relevant pay period, our median gender pay gap is 0.1% (women higher).

As mentioned above, Hft is not complacent about gender and pay, but we consider that 0.1% is not a highly significant gap.

Bonuses

Bonuses do not play a significant part in Hft’s reward strategy. This approach is not unusual in social care.

Where bonuses have been paid they have mainly been awarded in recognition of the long service of our fantastic and committed colleagues and are used to encourage and reward their loyalty.

3. Mean bonus gender pay gap

Based on the mean (average) bonus pay for male and female employees in the relevant pay period, our mean gender bonus gap is 3.5% (women higher).

4. Median bonus gender pay gap

Based on the median (middle) bonus pay for male and female employees in the relevant pay period, our median gender bonus gap is 0% (no difference).

5. Proportion of males and females receiving a bonus payment

The proportions of male and female employees who received bonus pay during the relevant pay period are as follows (percentages are rounded to one decimal place):

Male employees: 0.6%

Female employees: 2.1%

6. Proportion of males and females in each pay quartile

The following table separates our entire workforce into four ‘quartiles’ (parts) based on the salaries that are paid to these employees. These quartiles are then further broken down into the number and proportion, expressed as a percentage, of male and female employees in each one:

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Quartile Male Female
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A (upper) 24.58% 75.42%
B (upper middle) 22.73% 77.27%
C (lower middle) 24.42% 75.58%
D (lower) 29.45% 70.55%

Appointment of New Role: “Employee Experience Partner”

In April 2021 Hft appointed to a new role of Employee Experience Partner to shape, lead and deliver our commitment to enhanced employee experience and engagement. The role’s responsibilities for Diversity and Inclusion include, but are not limited to:

Information systems and ways of working:

Hft continues our organisation-wide programme to transform our information systems and ways of working. This transformation programme will give us:

The people workstream of this transformation will enhance our ability to gather and report on people data – including on gender and pay.

Structural Fundamentals:

Since the last Gender Pay Gap Report, Hft has initiated a “Structural Fundamentals” programme which includes the development of a job matching framework, benchmarking and reward strategy. These measures provide further opportunity for us to equality proof our pay arrangements.

Equality and Diversity Policy

Hft’s policy states that;

We value people equally without discrimination with regard to gender, sexual orientation, age, race, beliefs, culture, chosen lifestyle or disability. This approach applies to the people we support, their families, Hft staff and others with whom we have contact.

We ensure that the policy is implemented through clear statements in our recruitment advertisements and reinforced in the induction training. Specific training is given to any member of staff in a managerial or recruiter position ensuring that they are aware of the law and Hft’s policies.

There are policies in place to:

Employee Consultation

Hft entered into a Partnership Agreement with all employees in 2013. The purpose of the Agreement is to provide a framework for the Management and the Employees to participate in joint planning and decision-making processes, working as partners to jointly drive the organisation forward and solve problems. The parties in the Agreement have given a commitment to work together to promote

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Strategic Report: Objectives, Activities and Public Benefit

a positive and effective relationship with the following principles;

The implementation of the Partnership Agreement is facilitated through the Partnership Forum. Representatives from all areas of the organisation receive training and support to act on behalf of all employees at a local or national level.

Modern Slavery Statement

The Modern Slavery Act 2015 came into force on 29 October 2015 and introduced changes in UK law focused on increasing transparency in recruitment and supply chains. It sets out a duty on larger organisations to publicly report steps they have taken to ensure their operations and supply chains are trafficking and slavery free. As such any organisation, including charities, which supply goods or services and have a minimum annual turnover of £36 million, are required to produce an annual Anti-Slavery and Human Trafficking Statement that is approved at the highest level in the organisation and is made available on the organisation’s website. Our statement can be found at:

www.hft.org.uk/ModernSlaveryActStatement

Frank with a beautiful array of wild flowers he’d picked to cheer his home up.

Aims and objectives

Hft’s principal objectives, as stated in the Memorandum and Articles of Association, are as follows:

Principal activities

The principal activities of Hft in support of these objectives are as follows:

In addition to the funded activities, as a Charity Hft chooses to provide enhanced opportunities for adults with learning disabilities through fundraised services:

Public benefit

Hft’s Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives, and in developing plans for future activities.

Hft is committed to using a combination of fundraised money and reserves in order to fund the vital charitable services and projects which are provided, over and above the day-to-day delivery of care services on behalf of local authorities.

The three principal projects which fall under the charitable projects umbrella are the Family Carer Support Service (see above); Personalised Technology and the Luv2meetU project (see note 6).

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Achievements and Performance

Strategic plan and key drivers

Hft’s aspiration is to be a leading provider of adult learning disability services in the UK. We want the best life possible for all of the people we support and to achieve this we recognise that efficiency and productivity continue to be critical, and that investment in staff and technology are key to long-term sustainability.

Our latest published strategic plan runs from 2020 to 2024 and whilst the key drivers remain relevant, the pandemic has changed the face of the sector we work in, and our organisation, and has produced challenges and opportunities which we could not have foreseen when we committed to the plan in 2020. With the arrival of a new CEO in December 2020 the strategy is under review to ensure that it remains robust to future challenges and maximises emerging opportunities.

Our statements reflect progress against the published strategy, with notes on the impact of the pandemic on that progress.

Get the basics right

We will ‘get the basics right’ for all our service delivery to deliver and evidence both the best life possible for all those we support.

We ended this year with 90% (2020: 89%) of our CQC services rated as good or outstanding, despite the significant challenges which the organisation faced.

Throughout the year we continued to deliver care and support in over 80% of our services with limitations only in day operations and even there we provided home based support and respite where possible. We mobilised quickly to ensure that the people we support and our staff were safe and implemented emergency protocols with the cross-functional pandemic committee. The committee coordinated the activity related to government initiatives and proactively managed the significant requirements for protective equipment across our national services. As a publicly funded organisation, we did not furlough staff, and through staff flexibility and detailed

planning we maintained safe services despite staff shortages through isolation and illness.

Financial sustainability

Our organisation will be financially sustainable through the delivery of funded services and housing. We will invest in the processes, systems, culture and capability to ensure we are robust to a low fee and rising wage environment.

Operating contribution increased from the previous year despite fee stagnation and additional pressure from the increase in national living wage and inflation. Without the impact of the pandemic the financial results from the delivery of care would have been worse given the savings which were made in agency fees compared to the previous year. The ability to mobilise employees across the organisation reduced the cost burden by c.£3m in the year.

We continued the work we had started on the turnaround of financially underperforming services and, specifically, saw an increase in contribution from the closure of a large service in Oxford. There is further work to prepare the site for disposal in coming years, to provide funds for growth and expansion.

There was no agenda for growth during the year, and the time taken to fill voids increased due to lockdown measures.

The natural reduction in overheads through reduced travel has prompted a review of how and where we deliver our centralised support services, and contributed £0.8m in cost savings during the year.

Recruitment

We will develop and retain the skills, processes, resources and systems to be able to recruit, train, motivate, deploy, reward and retain staff to exactly fulfil our contracted services in an optimal way.

Following the announcement of the first lockdown in March 2020, we were able to adapt our

recruitment processes, maximising the use of social media and other digital platforms to attract and source candidates and allow us to interview remotely. Our full-time equivalent (FTE) vacancies coupled with spend on agency staff dropped considerably as we saw an upturn in applications during a time when social care roles were resilient in the face of redundancies in the retail and hospitality sectors.

Systems development

We will optimise our central support functions to gain data and insight from our systems and achieve the productivity gains they offer.

Our ambition has grown in the year and we are undertaking a holistic systems, process and culture review and transformation project in order to deliver on this objective. We recognise a historic underinvestment in our infrastructure and the need for improved efficiency to remain competitive within the available fee structure.

Complex Behavioural Needs services

Our aim is to deliver consistent and sustainable services for those with complex behavioural needs. This ambition has been put on hold during the pandemic as it would require significant planning for the development of community services which can be financially sustainable. The Transforming Care programme has highlighted the inherent difficulties in creating these services and we will now research potential support models based on the future governmental strategy.

Growth Opportunities

We will continue to focus on growth opportunities.

There has been little opportunity for growth during the year and increased pressure on existing services, especially day opportunities. We are reviewing the delivery of Care and Housing to understand where we have strengths which we can use for growth and what other specialisms we can grow.

Property management

We will be excellent at acquiring (buy or lease), designing, constructing, managing, maintaining

and only where necessary exiting and /or selling property.

During the year;

Campaigns

As an organisation informed by professional and lived experience, we have continued to engage with decision makers in Westminster to raise issues impacting the social care sector and people who have learning disability in order to affect change.

This includes:

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Fundraising

We will maximise income to support activity designed to provide the best life possible for the people we support. In the year, Hft’s Fundraising department continued to secure philanthropic funds from a range of supporters to support its work and to enhance the lives of thousands of people with learning disabilities.

We aim to comply with all standards set by the Fundraising Regulator in its Code of Fundraising Practice and have a quarterly review to measure our compliance with the Code. In particular, where professional fundraisers and fundraising agencies are engaged and working on our behalf, we ensure that the solicitation statements are in place and that their activities are monitored. We also adhere to the Code as it relates to treating people fairly and, in particular vulnerable adults, to ensure that they may be protected and not subjected to unreasonable pressure to give a donation.

The Operations Committee also reviews our fundraising activity at regular meetings to ensure we are acting responsibly within fundraising regulations, particularly relating to vulnerable adults. They also monitor the performance of fundraising activity to ensure we deliver value for money for our supporters. We value our relationship with supporters and donors and are therefore pleased that the year saw only 12 complaints about our fundraising activity which is a reduction on previous year.

We would like to express our thanks to the following organisations, trusts and individuals who have supported us in the year to 31 March 2021, as well as those who prefer not to be named:

Belron® Ronnie Lubner Charitable Foundation

David and Sandra Lee

The Gladstone Family The Hadley Trust The Healy Family The John Apthorp Charity Sir Stuart Hampson CVO DL Mr Nigel Doggett Mr Richard Price MBE Mr Richard Barber MBE

External factors

The year was dominated by the impact of Covid-19 on the country, to the extent that the final withdrawal from the European Union made little impact on the organisation.

Hft nationally does not have a reliance on non-British EU staff, and our concern was that industries such as retail and hospitality would attract social care staff with higher wages once their EU staff had left. The result of these industries closing during the pandemic was a temporary increase in available staff, and a temporary masking of the impact of Brexit on recruitment and retention. As lockdown eases and hospitality opens up we are starting to see pockets of recruitment challenge.

The Covid-19 pandemic challenged the

organisation nationally, and particularly early on in residential services when available support was limited and government policy was unclear. The Hft Pandemic Response Committee monitored sickness in people we support and staff from the start of the pandemic and met daily to provide cross-functional support, resources and solutions to the care delivery teams. For several months Hft ran with 85% of staff delivering 80% of commissioned services with closures of day services the most significant contraction, however, this led to a significant saving in agency costs and an increase in underlying financial performance.

Other impacts of Covid-19 include the delay in disposing of a number of surplus properties, which were delayed into FY 21/22. Conversely, the start of the year saw a bounce-back in the value of the investment portfolio and the year-end value was £1m higher.

Pressure on local authority finances limited their ability to fund the full impact of the NLW increase in April 2020 which increased support worker pay and on costs by 6.2%, the average fee increase from 119 local authorities was 3%, further increasing the pressure on margins and forcing the reduction of non-core services, such as the Appointeeship service which closed at the end of the year.

As at the end of the year the final verdict from the appeal for the National Living Wage Sleep In case was received which confirmed that there would be no liability to 6 years of back pay for sleep ins as working time. Given the increased burden of unfunded increases in NLW this reduced pressure on cash flow at a difficult time.

Investments

The value of Hft’s investments outperformed the benchmark this year. The Investec portfolio closed the year at £6m; a gross return of 17% on the year, compared to a benchmark return of 15.34% and the income yield was 2.25% for the year. The Brewin Dolphin portfolio closed the year at £813k; a gross return of 27% on the year, compared to a prior year gross return of -21.35% and the income yield was 3.05% for the year. Hft has a prudent investment strategy which balances potential returns with an appropriate level of risk.

Environmental policy

Hft is fully committed to safeguarding the environment. In this respect it will specifically endeavour to:

Dave - looking after his vegetable patch.

34 HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

35

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Carbon policy

The GHG emissions have been assessed following the ISO 14064-1:2018 standard and has used the 2020 emission conversion factors published by Department for Environment, Food and Rural Affairs (Defra) and the Department for Business, Energy & Industrial Strategy (BEIS). The assessment follows the location-based approach for assessing Scope 2 emissions from electricity usage. The operational control approach has been used.

The table below summarises the GHG emissions for reporting year: 1st April 2020 to 31st March 2021. As a business, we have been assessing our carbon emissions since 2019 and have provided this baseline year and last year’s assessment results for comparison.

Scope
Activity		 Location-Based tCO2e
2019/20
2020/21
Scope 1
Site gas
Refrigerants
Company car travel*
Vehicle fuel usage
Site LPG		 996.50
933.58
-
98.34
292.71
96.30
160.33
87.88
116.41
80.83
Scope 1 Sub Total 1,565.93
1,296.64
Scope 2
Electricity generation		 490.82
366.12
Scope 2 Sub Total 490.82
366.12
Scope 3
Cash-opt out car travel
Electricity transmission and distribution
Well To Tank		 76.44
-

41.67
31.49
-
232.08
Scope 3 Sub Total 118.11
263.56
Total tonnes of CO2e 2,174.86
1,926.62
Total tonnes of CO2e per employee 3.03
2.58
Total tonnes of CO2e per £M turnover 25.64
22.15
Total energy consumption (kWh)** 7,340,409
6,647,796
Intensity ratio: tCO2e (gross Scope 1 & 2, location-based)
per £M revenue		 24.25
19.12

We are delighted to be able to show we have reduced our greenhouse gas emissions by 11.4% since last year.

Percentage contribution of each element of Hft’s carbon footprint

----- Start of picture text -----
Site gas 48.5% Breakdown
Site electricity 19% of carbon
Well to Tank 12% footprint
Refrigerants 5.1%
Company car travel 5%
Vehicle fuel (Minibus) 4.6%
Site LPG 4.2%
Electricity transmission & distribution 1.6%
----- End of picture text -----

Internal Controls Statement

The HF Trust Limited (Hft) Board has overall responsibility for establishing and maintaining the whole system of internal control for Hft and its subsidiaries and for reviewing its effectiveness. The Hft Board recognises that no system of internal control can provide absolute assurance against material misstatement or loss or eliminate all risk of failure to achieve business objectives. The system of internal control is designed to manage key risks and to provide reasonable assurance that planned business objectives and outcomes are achieved. It also exists to give reasonable assurance about the preparation and reliability of financial and operational information and the safeguarding of Hft’s assets and interests. In meeting its responsibilities, the Board has adopted a risk-based approach to internal controls which is embedded within the normal management and governance process. This approach includes the regular evaluation of the nature and extent of risks to which Hft is exposed and is consistent with Turnbull principles.

The process adopted by the Board in reviewing the effectiveness of the system of internal control, together with some of the key elements of the control framework includes the items listed below.

The Covid-19 pandemic is an unprecedented global emergency which Hft, the people it supports and our staff will continue to be affected by. Hft maintained safe service delivery to the people supported throughout this period and will continue to monitor closely, and adapt working

practices as required. The long-term impact on the care and support sector, the people supported and staff is still unknown.

In Autumn 2020 Hft commissioned a governance review by independent advisors Campbell Tickell. As well as providing a robust view of Hft’s governance, it considered the risk management approach. As a result of the advice, an improvement plan was resourced that will, when the actions are embedded, provide a strengthened governance and risk framework that will support delivery of Hfts corporate plan and make it more robust in facing the future challenges that working in the charitable care and support sector brings.

Key improvements include:

As a commercial business, providing care, support and housing to people while being a registered charity, Hft operate with a number of themed risks being managed at the Corporate level.

The main threats to the business are all linked and are impacted by each other. They are within the themes of our people; keeping the people supported safe and satisfied; and the ability to remain and improve commerciality.

The Board confirms there has been no breakdown in internal control resulting in material losses, contingencies or uncertainties which would require disclosure in the financial statements during the year.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Principal Risks

Our people:

----- Start of picture text -----
Risk for Hft Action we are taking
----- End of picture text -----

Risk for Hft Action we are taking
Failure to
recruit, retain
and invest in
a talented,
safe and
engaged
effective
workforce		 The success of mitigating this risk impacts on all other risks: If the right staff cannot
be recruited with the right competencies, it will have a direct impact on Hft’s ability
to deliver good services to the people supported; increase the risk of safeguarding
issues and regulatory action; and Hft will fail to realise the benefits of the transformation
program. Systems can be replaced – but if staff do not use them the benefits will
not be realised. Capacity must be built in leadership to support the culture changes
required to deliver the corporate plan.
Disengaged staff pose a threat to Hft’s business: both in delivering the care and
support and protecting the people supported; but also, in delivering the change
program put in place and protecting Hft’s reputation. Programs of change are
being put in place to address this through the People Strategy, however leadership
development, talent program, recruitment and performance management have to
improve so Hft can deliver the changes required and prevent multiple points of failure
across the business, for example in payroll processing, and a lack of succession
planning in senior roles.
The impact of the mandatory vaccination legislation (which may include flu jab) risk is
growing and it will also affect 3rd party suppliers of staff as well as Hft’s own resources
which are already under stress. Hft has a culture of using agency provided staff- the
risk that agency providers will also be unable to meet staffing requirements in care and
support is growing.
The People Strategy which is being developed will underpin everything Hft need to
achieve. The transformation projects that deliver the people strategy outcomes are
approved, resourced and being monitored. As this develops Hft are in a good place
to be flexible to meet the changing requirements of our transformed business and the
changing external labour market.

----- Start of picture text -----
Gardening in a
Cornish allotment.
----- End of picture text -----

Keeping the people, we support safe and satisfied:

----- Start of picture text -----
Risk for Hft Action we are taking
----- End of picture text -----

Risk for Hft Action we are taking
Failure to
manage
a serious
incident		 An incident could take the form of a worldwide pandemic; a cyber-attack that brings
systems down, or a localised incident effecting one or more of the people supported
either in the care and support setting or a landlord compliance safety event.
In response to the pandemic, Hft enacted Business Continuity Plans, and established
a Covid-19 response group, which continues to closely monitor and respond,
considering government guidance, to ensure the safety and wellbeing of customers
and staff, while still delivering core services.
Like many providers of care and support, when the pandemic hit, Hft had to adapt
quickly to address serious and immediate risk to staff and the people supported. The
impact of this is not yet fully clear in both a national and Hft sense, however Hft have
learned many lessons over the last 18 months and plan to capitalise on that learning
through a planned review and test approach, take those lessons and test, based on
risk factors, the entire business continuity approach. This is not limited to a pandemic;
Hft will be ensuring over the next 12 months that key systems are recovery tested, that
priorities for managing an incident are clear, and that there is an effective communities
plan in place, both internally and externally to ensure Hft can continue to operate under
pressures whatever the cause.
Insufficient
investment
in property		 Hft have commissioned a stock condition survey which will be completed by October
2021 to inform both the compliance position and the future investment requirements of
homes to ensure they are both fit for the future and meeting the needs of the changing
customer group. This will inform plans to reduce responsive maintenance and increase
the focus and spend on planned maintenance, while addressing any action required to
address the Building Act.
Services to
the people
we support
are of poor
quality		 Hft are developing a new operating model and the delivery within that model will
support greater customer satisfaction, compliance to legislation and the ability to
deliver good services. Hft have an internal Quality and Assurance Team that carries out
inspections against the CQC regulations and provides improvement plans to the care
& support services. That service will be capitalised upon, expanded so the learning
and compliance aspects of this service to help enable the improvements set out in the
program to deliver the Corporate Plan.
Poor
governance
leads to
Regulatory
breach and
reputational
damage		 Effective decision-making and strong controls are crucial for maintaining Hft strengths
into the future. As a registered charity Hft is required to work within charitable aims.
Having recently adopted the Charity Code of Governance, Hft are making changes to the
governance framework that will not only allow it to meet the requirements, but to exceed
them and make it fit for the future. This work will take around 9 months to complete by
which time Hft will have an assured framework for governance and risk that will support
achievement of all objectives.
The Board has a policy on fraud covering prevention, detection and reporting of fraud
and the recovery of assets. A register is maintained of any frauds or potential frauds. The
Audit and Risk Committee have responsibility to review the fraud register at each meeting
and has taken the results of these reviews into account in its report to the Board.
Hft seek to maintain the highest standards of ethics and integrity in the way it conducts
business. Hft recognise that bribery and corruption, in all its forms, is illegal and
unacceptable. The bribery policy statement has been integrated into the code of conduct
and the gifts and hospitality policy.
To resource our approach to governance, new posts have been introduced into the
substantive structure: a Chief Quality and Governance Office role, along with 3 other
support roles to support the frameworks across the business.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Consideration of Directors Responsibilities

Being commercial:

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Risk for Hft Action we are taking
----- End of picture text -----

Risk for Hft Action we are taking
Liquidity Hft has no long-term borrowings, and makes use of short term over draft facilities.
There are pressures on liquidity over time as Hft moves through a large-scale
transformation program, analyses the investment required in stock to meet the
outcome of the stock condition survey being undertaken, compliance requirements
and to meet changes in government policy as a result of the building act and address
government policy changes in social care. These cost impacts linked to objectives for
growth in the longer term, and the commercial risks outlined below means this risk is
constantly under review.
If necessary Hft can access the unencumbered assets and use its investment portfolio
to support objectives. However, focus remains on being commercially astute and
preparing the business long term to meet the costs pressures and risks.
Commercial
risks		 The fees Hft received from the Local Authorities are set by agreement with accessed
hours and Local Authority framework hourly rates. Cost are then fitted within this
income envelope. Costs are principle salaries based on prevailing market rates. This
income envelope is squeezed by both upward costs pressures, the pressure on
care and support services to deliver wider social outcomes and the local authorities’
financial positions a result of Covid and other government policy changes.
The external political situation is volatile and Hft works with a wide range of public
bodies and will continue to monitor the evolving political landscape closely.
This is an opportunity risk that Hft intend to exploit. Linked to mitigation in the
medium term is the ability of the Innovation Hub to deliver the business development
(growth) plan. Over 21/22 the groundwork will be prepared, analysing competitor
intel, researching new opportunities and alternative ways of working including tech
innovation that will create new service offers and robust information to enable decision
making. Delivery of the outcomes is due from 22/23.
Additional resource has been applied in this area with both a Chief Strategy,
Transformation and Innovation Officer and a Chief Charity and External Affairs Officer
and associated resources roles placed into the executive.
External
policy
changes
impact the
Hft business
model

Section 172 of the Companies Act 2006 requires the directors to act in the way they consider, in good faith, would be most likely to promote the success of the charity to achieve its charitable purposes. The Act states that in doing so, the directors should have regard, amongst other matters, to:

The likely consequence of any decision in the long term

Our strategic objectives as part of a long-term strategy to improve the lives of people with learning disabilities both now and in the future. We review external developments and policy, and horizon scan for future trends, and ensure that our plans can be adapted as needed to meet changing circumstances and ensure sustainability.

The interest of the company’s employees

Our employees are vital to Hft and we regard on-going, regular engagement with them as a top priority. Employee engagement is important to us at Hft. We have recently invested in a new role of Employee Experience Partner to shape, to help lead and deliver our commitment to enhanced employee experience and engagement. We involve the Partnership Forum at early stages in decision making and they meet regularly with the Executive team and the Trustees to share thoughts, plans and opinions. During the year they are consulted and their approval accredited on new policies, the pandemic, strategy, wellbeing, retention, face to face training and employee awards.

The need to foster the company’s business relationships with suppliers, customers and others

Our relationship with partners, funders, suppliers, local authority commissioners, the people we support and their families are key to our effectiveness. We work with them closely to develop mutually beneficial relationships.

The impact of the company’s operations in the community and the environment

We recognise our responsibility to care for the environment and aim to minimise our environmental impact in all out activities. More information on how we care for the environment can be found in our Carbon Policy.

Directors’ and Officers’ Liability Insurance

The group has insurance to cover Trustees’ and Officers’ liability to the value of £10m, as permitted by the Companies Act 2006 at a cost of £13k (2020 £13k).

The desirability of the company maintaining a reputation for high standards of business conduct

Our reputation and public trust in Hft is fundamental to our future success. We use our organisational values and behaviours in our requirement for and training of both employees and volunteers to ensure that we maintain high standards. We lay out our expectations within our staff code of practice and discuss performance during supervisions, continuing conversations and appraisals. Our procurement and ethical policies and procedures ensure that our values also are a key part of our selection of partners and suppliers. We are regulated by the Care Quality Commission and the Charity Commission and our CQC results are publicly available.

The need to act fairly as between members of the company

We aim to be a fully inclusive organisation which is relevant and accessible for anyone with a learning disability, their families and our staff. We will not unfairly discriminate against anyone.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Financial Review

The financial year was dominated by Covid-19 and managing the impact on staff and the people we support.

At the start of the year we took a decision that we would not furlough our staff and that they would continue to support our beneficiaries, and this applied to all direct staff and those in supporting roles. Like many organisations we moved swiftly to enable safe working environments for those delivering services and working from home. We invested heavily in PPE and Covid-19 related services, all of which was covered through a number of Government funded schemes and had little financial impact on the organisation.

Throughout much of 2020 the staff availability fell below 85% with a significant number of staff having to shield for health or sickness reasons. The remainder of our staff were flexible in working to cover services and ultimately the lack of reliance on agency staffing delivered a significant saving to the organisation. The underlying issues with staff recruitment did not worsen with Brexit, and the availability of staff from hospitality eased the recruitment issue further. With the lessening of restrictions and the opening of the hospitality and retail sector there are signs that the underlying recruitment challenges are returning in 2021.

The pandemic did impact the capital disposal programme so that property sales were delayed until the start of the current financial year, however the restrictions on movement and the difficulties in acquiring materials and contractors meant that the investment levels were similarly reduced in the housing portfolio.

There remain significant challenges in the funding of Care services which are subsequently reliant on being subsidised through other profitable channels and we continue to review the hourly rates and weekly fees to ensure that we can continue to provide sustainable services, as well as challenging ourselves on costs and overheads.

Income

Income from charitable activities includes service fee income, special projects and community interest company income. In addition to this are trading activities, fundraising, and investment income.

Total income from organisational activities decreased to £85m (2020: £86.2m) with increases in fees, reductions in donations and legacies offset by a loss on the disposal of asset in the year of £0.1m (2020: £0.5m).

Fee income from the provision of care services to Local Authorities in the UK in the year of £81.7m represents a decrease of 2.1% on 2020: £83.4m. The reduction reflects the full year impact of new and closed services from the previous year and services opened and closed in the year, together with fee uplifts received during the year. Fee income delivered 96.1% of total income compared to 96.7% in 2020.

Income from donations and legacies of £1.9m reduced by £1.1m on the previous year.

----- Start of picture text -----
Charitable activities (£81.7m) 96.1% Charitable activities (£83.4m) 96.7%
Donations & legacies (£1.9m) 2.2% Donations & legacies (£3.0m) 3.5%
Other (£1.3m) 1.5% Other (£-0.4m) 0.5%
Investments (£0.1m) 0.2% Investments (£0.2m) 0.2%
Other trading activities Other trading activities
(£0m) 0% (£0.1m) 0.1%
2021 2020
Income total Income total
£85m £86.2m
----- End of picture text -----

Expenditure

Total expenditure in the year to 31 March 2021 of £86m (2020: £88.6m) is a £2.6m and 2.9% reduction on 2020.

Charitable services costs reduced in the year as a direct impact of the delivery of fewer hours due to the pandemic; day services were limited and staff were redeployed to other types of services. The effect of this is that less agency hours were required reducing the agency cost burden by £3m. Offsetting this by a 2.2% increase in NLW (£1.1m). Property costs rose by £0.5m due to significantly increased utility charges and enhanced maintenance requirements. Operationally, the costs of setting up and monitoring compliance with Covid regulations whilst being unable to recharge vehicle charges added £450k costs.

----- Start of picture text -----
Charitable activities (£82.5m) 95.9% Charitable activities (£85.8m) 96.8%
Fundraising (£1.2m) 1.4% Fundraising (£1.3m) 1.5%
Other Activities Other Activities
(£2.3m) 2.7% (incl Covid) (£1.5m) 1.7%
2021 2020
Expenditure total Expenditure total
£86m £88.6m
----- End of picture text -----

The asset disposals during the year (2020: £0.5m loss) included the sale of 2 properties and generated a loss of £0.1m.

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43

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

The income and costs and surpluses of the core operational services are as follows:

2021
£’000
2020
£’000
Services income (note 3) 81,186
82,876
Services direct costs (note 8) (71,704)
(75,216)
Services surplus before support costs 9,482
7,661
Support costs (note 8b) (9,462)
(9,503)
Services (deficit) / surplus after support costs 20
(1,842)

The underlying gaps between increase in costs of delivering care and lower rates of fees being received, resulted in more services are being highlighted as financially unsustainable in the longer term, however the impact of pandemic in reducing the hours of services delivery meant that contracted staff were able to support all services without the need for agency staff, which resulted in a saving in agency costs, and additionally the overhead in recruitment and training of those staff.

A range of performance indicators are used to measure financial and operational activity and to highlight trends and potential risks. Throughout the year, the following key performance indicators are monitored and reported monthly, these are the annual comparisons:

2021
2020
Fee Income per day (£k)
Occupancy rates (%)
Total Employment Costs (TEC) as % income
Agency costs as % Total Employment Costs
Operating Contribution as % Income
Overheads as % Income
Fundraising income v expenditure		 224
227
93
95
71
76
5
10
18
11
13
11
2:1
3:1

Exceptional costs include all expenditure related to maintaining the organisation throughout the pandemic, including PPE (Personal Protective Equipment), training, computer equipment for staff and clients, temporary infrastructure improvements to enable access and visits and exceptional staff costs.

Trading activity

The principal component of trading activities is the sale of seasonal cards and gifts which was halted for the year due to the pandemic. The total trading deficit in 2021 amounted to 3k (2020: £25k surplus). Hft recharges costs as incurred to this trading subsidiary.

Charity projects

The net expenditure on special projects in the year to 31 March 2021 of £1.2m is a £0.2m increase on the 2019/20 net cost of £1m with a £50k decrease in project income. Special projects include the public benefit projects such as FCSS, Luv2meetU and the Personalised Technology project. The increase in net expenditure is due to reduced funding and the generation of income from providing chargeable Personalised Technology services.

Balance Sheet

Reserves have decreased by £0.1m as a result of the year’s activities; the main changes in the balance sheet during the year are as follows:

Intangible assets value declined by £0.5m.

Tangible fixed assets decreased by £3.3m to £57.8m which includes;

Current Assets

Reserves

At 31 March 2021 the total funds of the charity were £73.3m of which £17.9m were restricted leaving a total of unrestricted funds of £55.3m.

As explained in the note to the accounts the Trustees have designated £46.1m of funds for fixed assets and capital projects, the reduction of £2.2m reflects the disposal of land and buildings during the period. The Trustees will continue to manage the undesignated balance available for general charitable activity.

The general reserve policy was last reviewed in November 2019 and it was agreed to maintain the level of general reserves sufficient to cover 6 weeks payroll £6.3m (2020: £6.9m). This policy will be revisited in the next 12 months. At the year-end the general reserve balance was £9.2m (2020: £6.8m) (see notes 21 & 22).

This level of general reserve would be sufficient to cover payroll costs and provide working capital support for major projects.

Investment powers, policy and objectives

Investment powers are governed by the Articles of Association, which permit the funds to be invested in the manner shown in note 12 to the financial statements. The Trustees intend that the real value of Hft’s investments be maintained and enhanced over the long term by investment in a portfolio comprising common investment funds, unit trusts and equities (quoted on a recognised international stock exchange). Hft employs professional investment managers to advise on and invest the portfolio in accordance with the investment policy and mandate which is given to them.

44

45

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Plans for Future Periods

The impact of the pandemic has enabled us to focus on how best to achieve our Mission, and we have renewed our focus on ensuring that our governance, care and support delivery, and housing provision are supported with efficient processes and systems. We have committed the funding and resource to deliver this transformation in the replacement of legacy systems, and deliver lean and efficient processes and systems over the next two years.

Building capacity

We will continue to invest in accommodation for people we support, given appropriate levels of return, and will continue to review the property portfolio to ensure it meets the changing needs of the people we support.

We will continue to invest heavily in the upkeep and maintenance of our housing estate whilst working proactively to design affordable and sustainable innovative housing.

As a part of these developments, since the start of April 2021 we have restructured, and renamed, the Executive Board who are focussed on three main areas of performance:

Charitable Services

We are reviewing the delivery models for our key charitable services: Family Carer Support Service (FCSS), Personalised Technology, Luv2meetU and our Volunteering as well as other activity which we have provided in the past, and which is explicitly unfunded by Local Authorities.

These are supported by new functional portfolios:

We are fully committed to these activities and believe they offer significant benefits to all those with a learning disability and their families. We need to ensure that they are properly funded, sustainable for the future, offer the kind of services that people want for the future, and have greater scalability.

Each of these portfolios are led by a Chief, who collectively form the Executive Board reporting to the Chief Executive Officer. The immediate plan is to stabilise the organisation post-pandemic, maximise the opportunities from changes in working practice adopted during the year, deliver the early stages of the transformation programme, and begin positioning Hft for growth.

Fundraising

Donor recruitment activity was restricted by necessity during the pandemic and we will continue to review all opportunities to increase fundraising income whilst ensuring that our current and future donors have a satisfying experience supporting us.

Growth

The demand for learning disability services continues to grow and the complexity of many of those services is increasing. We will continue strengthening our position within existing regions, pursue our strategy of growing and developing services focussing on age-related needs, and explore opportunities for sector consolidation, when these arise.

Developing Hft’s Voice

We have worked to maintain a voice of reason during this stressful and chaotic year and will continue to champion sensible change and reform to benefit the whole sector, as well as the people we support.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of HF Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Going Concern

The Trustees have reviewed the group’s and the charity’s forecasts and projections covering a period exceeding 12 months from the date of signing of the financial statements.

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 the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

Based on the level of existing cash and estimated levels of income and expenditure, the Trustees are satisfied that the group has adequate levels of reserves to continue in operation for the foreseeable future.

The Trustees have considered the impact of Brexit on the organisation and see no reason this would impact the going concern. In reviewing the future impact of Covid-19 the Trustees believe that the plans enacted over the previous year demonstrate the organisations ability to manage any further episodes of the virus.

Accordingly, the going concern basis has been used in preparing these financial statements. Trustees also consider there to be no material uncertainties in the operating environment.

Statement on Disclosure of Information to the Auditor

So far as each Trustee is aware, there is no relevant audit information of which the company’s auditor is unaware.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each Trustee has taken all the steps (such as making enquiries of other Trustees and any other steps required by the Trustee’s duty to exercise due care, skill and diligence) that he or she ought to have taken in his duty as a Trustee in order to make himself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

The Report of the Board of Trustees and Incorporated Strategic Report were approved and signed on behalf of the Board of Trustees by:

In so far as the trustees are aware:

Amanda Bunce

Chair Date: 23/09/2021

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Independent Auditors’ report to the members of HF Trust Limited

Opinion

We have audited the financial statements of HF Trust Limited (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated and Charity Cash Flow Statements and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 group and parent charitable company 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 group’s or parent 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

The other information comprises the information included in the Annual Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Strategic Report included within the Trustees’ Report.

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

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 47, 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.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent 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 group or parent 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.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected noncompliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit

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49

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Consolidated Statement

of Financial Activities For the year ended 31 March 2021

evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the parent charitable company’s governing document and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents and evaluating advice received from external advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the Care

Act 2014. We performed audit procedures to inquire of management and those charged with governance whether the group is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and challenging judgments and estimates.

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at http://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.

Nicholas Sladden

(Senior Statutory Auditor)

For and on behalf of RSM UK AUDIT LLP, Statutory Auditor

25 Farringdon Street, London, EC4A 4AB

Date: 29 October 2021

(Including Consolidated Income and Expenditure Account)

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2021 2020
Notes £’000 £’000 £’000 £’000
Income and endowments from:
Donations and legacies 3 817 1,060 1,877 2,992
Charitable activities 3 81,673 - 81,673 83,406
Other trading activities - - - 69
Investments 144 - 144 190
Other 7 1,291 - 1,291 (446)
Total 83,925 1,060 84,985 86,211
Expenditure on:
Raising funds 8 1,200 - 1,200 1,274
Charitable activities 8 81,027 1,437 82,464 85,795
Other 8 2,338 - 2,338 1,537
Total 8 84,565 1,437 86,002 88,606
Net (losses)/gains on investments 12 943 - 943 (622)
Net income/(expenditure) 9 303 (377) (74) (3,017)
Tax Payable 4 - 4
Other recognised gains/(losses):
Re-measurement of defined benefit 24 (52) - (52) (231)
pension scheme
Net movement in funds 247 (377) (130) (3,248)
Total funds brought forward 20 55,139 18,312 73,451 76,699
Total funds carried forward 20 55,387 17,935 73,322 73,451
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50 HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

51

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Balance Sheet as at 31 March 2021

Cash Flow Statement

For the year ended 31 March 2021

----- Start of picture text -----
Notes Group Company
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Fixed assets
Intangible assets 11 (a) 809 1,261 809 1,261
Tangible assets 11 (b) 57,835 61,133 57,835 61,133
Investments 12 6,882 5,834 6,882 5,834
Total fixed assets 65,526 68,228 65,526 68,228
Current assets
Stocks 13 5 5 - -
Debtors: amounts falling due within one year 14 7,968 7,207 7,942 7,205
Cash at bank and in hand 15 9,141 5,608 9,097 5,568
Total current assets 17,114 12,820 17,039 12,773
Current liabilities
Creditors: Amounts falling due within one year 16 8,100 6,368 8,071 6,370
Net current assets 9,014 6,452 8,968 6,403
Total assets less current liabilities 74,540 74,680 74,494 74,631
Creditors
Amounts falling due after more than one year 16 250 315 250 315
Provisions for liabilities 17 680 683 680 683
Pension liability 24 288 231 288 231
Net assets 73,322 73,451 73,276 73,402
The funds of the group/company
Restricted funds 20/23 17,935 18,312 17,935 18,312
General reserve 20 9,649 6,794 9,603 6,745
Designated funds 20/22 45,738 48,345 45,738 48,345
Unrestricted funds excluding pension liability 20 55,387 55,139 55,341 55,090
Pension reserve - - - -
Unrestricted funds 55,387 55,139 55,341 55,090
Total funds 21/22 73,322 73,451 73,276 73,402
----- End of picture text -----

As permitted by s408 Companies Act 2006, the Charity has not presented its own Income and Expenditure and related notes. The Charity’s deficit for the year was £0.1m (2020 - deficit £3.2m). The financial statements on pages 51 to 82 were approved and authorised for issue by the Board of Trustees and signed on its behalf by:

----- Start of picture text -----
Notes Group Company
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Cash flows from operating activities:
Net cash provided by operating activities 3,518 (41) 3,491 158
Cash flows from investing activities:
Proceeds from assets held for disposal 633 696 638 696
Purchase of property, plant and equipment (414) (1,182) (414) (1,182)
Purchase of intangible assets (99) (219) (99) (219)
Gift aid received from subsidiaries - - 22 -
Net cash used in investing activities 120 (705) 142 (705)
Cash flows from financing activities:
Repayments of borrowing (105) (125) (105) (125)
Net cash used in financing activities (105) (125) (105) (125)
Change in cash and cash equivalents in the reporting period 3,533 (872) 3,530 (672)
Cash and cash equivalents at the beginning of
5,608 6,478 5,567 6,240
the reporting period
Cash and cash equivalents at the end of the reporting period 9,141 5,608 9,097 5,568
Reconciliation of net income/(expenditure) to net cash
flow from operating activities
Net income/(expenditure) for the reporting period (as
(126) (3,248) (132) (3,295)
per the statement of financial activities)
Adjustments for:
Depreciation and amortisation charges 11 2,077 1,476 2,077 1,476
Investment management charges 12 37 34 37 34
(Losses)/gains on investments 12 (941) 639 (941) 639
Returns on investment and servicing of finance (144) (190) (144) (190)
Profit on the sale of tangible fixed assets 138 446 138 446
Fixed asset impairment 11 (b) 1,792 - 1,792 -
(Increase)/decrease in stocks - - - -
(Increase)/decrease in debtors (762) 578 (748) 781
Increase/(decrease) in creditors 1,399 (474) 1,364 (433)
Increase/(decrease) in provisions (3) 467 (3) 467
Non-actuarial decrease in liability 24 52 231 52 231
Net cash provided by operating activities 3,518 (41) 3,391 158
Analysis of cash and cash equivalents
Cash at bank and in hand 9,141 5,608 9,097 5,568
Total cash and cash equivalents 9,141 5,608 9,097 5,568
----- End of picture text -----

Amanda Bunce Chair Date: 23/09/2021

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53

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Notes to the Financial Statements For the year ended 31 March 2021

Income from charitable activities

1. Principal Accounting Policies

Hf Trust Limited is a private company limited by guarantee (registration number 734984) and registered charity regulated by the Charity Commission (registered number 313069) with a registered address at 5/6 Brook Office Park, Folly Brook Road, Emerson’s Green, Bristol.

Basis of preparation

The financial statements have been prepared in accordance with the requirements of the Companies Act 2006, Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments to market value and on a going concern basis.

Hft meets the definition of a public benefit entity under FRS 102.

A summary of the more important group accounting policies, which have been applied consistently, is set out below.

Going Concern

There are no material uncertainties about going concern. The Trustees have reviewed and approved the future plans and financial forecasts underpinning the going concern assumption. The core business model is operating at high levels of occupancy and with fee levels from purchasers in excess of the costs of service delivery and associated support costs, and this is expected to continue to be the case for the foreseeable future.

The Trustees have reviewed the group’s and the charity’s forecasts and projections covering a period exceeding 12 months from the date of signing of the financial statements.

Based on the level of existing cash and estimated levels of income and expenditure, the Trustees are satisfied that the group has adequate levels of reserves to continue in operation for the foreseeable future.

Trustees have considered any potential material uncertainties in the operating environment in the light of the Covid-19 pandemic and believe that mitigation for risk is in place.

Basis of consolidation

The consolidated statement of financial activities, the consolidated balance sheet and the consolidated cash flow statement include the financial statements of the company and its subsidiaries made up to 31 March 2021. Intra group transactions and profits are eliminated fully on consolidation.

The results of the subsidiary undertakings are shown in the consolidated statement of financial activities within income and expenditure. The assets and liabilities of the subsidiary undertakings are combined with those of the company in the consolidated balance sheet and consolidated cash flow statement on a line by line basis. A separate statement of financial activities for the company is not presented as permitted by section 408 of the Companies Act 2006.

Income

Income from all sources is included in the statement of financial activities at its fair value on a receivable basis, subject to the following specific criteria:

Fees receivable and charges for services and projects are accounted for in the period in which the service is provided or the project undertaken.

Other income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item (s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Grant income

Grant income is recognised when recognition criteria are fulfilled, and deferred into future periods if it is a multi-period grant.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. All irrecoverable VAT on costs is charged as a cost against the activity for which the expenditure was incurred.

Expenditure on raising funds

Expenditure incurred on raising funds does not include the costs of promoting or marketing the charity and is apportioned to individual restricted funds on the basis of funds raised during the year.

Expenditure on charitable activities

Service costs comprise the direct and indirect costs, including staff, attributable to the delivery of frontline care services for service users.

Apportionment of support costs

Support costs are apportioned to activities, based on the relative income of the activities.

General reserve

The general reserve comprises the working capital operating reserve of the group.

Designated funds

The designated capital project fund comprises unrestricted funds that have been set aside by the Board of Trustees to be expended on specific current capital development commitments. The aim and use of each designated fund is set out in the notes to the financial statements.

The designated fixed asset fund represents the aggregate net book value of tangible fixed assets acquired or constructed partly or fully from unrestricted funds, less associated mortgage liabilities.

Restricted funds

The restricted project fund comprises funds, which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. The cost of raising such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

The restricted fixed asset fund represents the aggregate net book value of tangible fixed assets acquired or constructed partly or fully from restricted funds.

Intangible fixed assets

Intangible fixed assets represent the cost of purchasing, configuring and bringing to operational readiness significant computer software applications, which have an anticipated life of between 5 to 10 years. These assets are amortised on a straight-line basis over their estimated lives, once they are fully operational.

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55

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Tangible fixed assets

All tangible fixed assets are included in the financial statements on initial recognition at cost. Individual assets with a cost below £2,500 (£500 for laptops / desktops) are not capitalised unless they form part of a series of purchases in respect of the fitting out of a new service or project. Irrecoverable VAT incurred on the purchase of fixed assets is included in the capitalised cost.

Taxation

No provision for Corporation Tax has been made in these financial statements as the company, a registered charity, is entitled to certain exemptions on its charitable activities. Taxation recoverable represents amounts deducted at source in respect of gift aid donations from individuals.

Investments

Impairment

Hft is required to conduct annual impairment reviews of its housing properties. Other assets are also reviewed for impairment if there is an indication that impairment may have occurred. In general, where the calculated value in use is lower than book value, an impairment adjustment is made.

In respect of impairment reviewed, Hft is required to make critical judgements and assessments against each housing property that is reviewed. The recoverable amount of each housing property is based on value in use, which requires estimates to be made in respect of the allocation of the property value to each cash generating unit and of the future economic benefit to be derived from the underlying asset. The value in use calculation at 31st March 2021 used a discount rate of 5%, with economic operating units, which was applied to cash flows extending over a 20-year period as a conservative estimate of the useful lives of properties. The impairment charge made in the year was £1.8m.

Depreciation

The depreciation being applied to freehold buildings was reviewed during the year and a range of rates was extended to cover different categories of buildings based on their expected useful lives and residual values. Accordingly, buildings which are substantially residential properties in good order and with residual values that exceed historical cost no longer have a requirement to be depreciated.

Depreciation is calculated to write off the cost of buildings, plant and equipment over their expected useful lives at the following rates, on a straight-line basis:

----- Start of picture text -----
2021 2020
----- End of picture text -----

2021 2020
Assets due for disposal
Freehold land
Freehold buildings and additions
Cyclical refurbishment of buildings
Equipment
Computers
Motor vehicles		 Nil
Nil
0-5% pa on cost
15% pa on cost
8-15% pa on cost
331/3% pa on cost
25% pa on cost		 Nil
Nil
0-5% pa on cost
15% pa on cost
8-15% pa on cost
331/3% pa on cost
25% pa on cost

Operating leases

Income and costs in respect of operating leases are respectively credited and charged to the Statement of Financial Activities on a straight-line basis over the lease term.

Provisions

• Dilapidation

Stocks

Stocks are stated at the lower of cost and net realisable value.

Listed investments are recognised at cost and valued at fair value based on bid price at the balance sheet date. Realised and unrealised gains or losses on revaluation or disposal are combined in the Consolidated Statement of Financial Activities. Income from these investments is recognised in the year in which it arises.

Pension scheme arrangements

During the year, the group operated eleven pension schemes (see note 24). Contributions to the Charity’s pension schemes are charged to the Statement of Financial Activities in the year in which they become payable.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, which are described in this note, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Depreciation and the remaining useful life of fixed assets:

The remaining useful life and expected residual values of the group’s freehold buildings is a key area of estimation.

Provisions for dilapidations and leases are in relation to liabilities existing in respect of land and buildings held under operating leases. They are held at a value of the expected remaining charge on the lease and costs in association with bringing the relevant property into an acceptable state as agreed by both parties.

Asset impairments have the potential to significantly impact the financial results. In order to determine whether impairments are required the Charity estimates the recoverable amount of the asset.

This calculation is based on projecting future cash flows over a twenty-year period and using a terminal value to incorporate expectations of growth thereafter. The terminal value has been estimated using A discount factor is applied to obtain a current value (‘value in use’) and the result is compared to the net book value held, the deficit in value has been charged as an impairment against the assets.

Estimated future cash flows for impairment calculations are based on a rental fee limited to a rental fee of 5% of historic cost, being the net retained cash flow from rental invoices and the costs to deliver the building.

Future cash flows are discounted using a discount rate (5%) based on the cost of capital, and is impacted by estimates of interest rates, equity returns and market and country-related risks.

If the cash flow or discount rate assumptions were to change because of market conditions, the level of impairment could be different and could result in the impairment of property, plant and equipment being increased or reversed, in part or in full, at a future date.

2. Prior Year Consolidated Statement of Financial Activities

----- Start of picture text -----
Unrestricted Funds Restricted Funds Total 2020
£’000 £’000 £’000
Income and endowments from:
Donations and legacies 1,876 1,116 2,992
Charitable activities 83,406 - 83,406
Other trading activities 69 - 69
Investments 190 - 190
Other (446) - (446)
Total 85,095 1,116 86,211
Expenditure on:
Raising funds 1,274 - 1,274
Charitable activities 84,601 1,194 85,795
Other 1,537 - 1,537
Total 87,412 1,194 88,606
Net gains/(losses) on investments (622) - (622)
Net income/(expenditure) (2,939) (78) (3,017)
Other recognised gains/(losses):
Re-measurement of defined benefit
(231) - (231)
pension scheme
Net movement in funds (3,170) (78) (3,248)
Total funds brought forward 58,309 18,390 76,699
Total funds carried forward 55,139 18,312 73,451
----- End of picture text -----

3. Income and Endowments

(a) Donations and legacies

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Strategic Partnerships 790 557
Regional & community 302 332
Donor marketing 226 256
Extra Special Trust - -
Donations 1,318 1,145
Legacies 559 1,847
Total donations and legacies 1,877 2,992
----- End of picture text -----

Included within donations is £68k of Gift Aid reclaimed (2020: £76k). Income from Friends Groups of £19k (2020: £32k) is included in donations and includes amounts held by groups.

The expenditure incurred by the Friends Groups has remained minimal during the year and continues to not be material in results based on management estimates. It has not proved practical to obtain expenditure records from individual Friends Groups, however, the Board of Trustees does not consider that the effect is material and it has no effect on the net incoming resources for the year (2020: no effect).

(b) Income from Charitable Activities

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Service income 81,186 82,877
Special projects 396 446
Community Interest Company income 91 83
Total 81,673 83,406
----- End of picture text -----

4. Hft Trading Limited

Hft has a wholly owned trading subsidiary, which is incorporated in England and Wales, with a registered office at 5/6 Brook Office Park, Folly Brook Road, Emersons Green, Bristol. Hft Trading Limited (company registration 02764761) undertakes non-primary purpose trading activities, namely the retail sale of Hft branded cards and gifts. The distributable net profit is distributed to Hft. A summary of the trading results of the subsidiary are shown below. The Board will consider the accounts for approval on 23.09.21.

----- Start of picture text -----
2021 2020
£’000 £’000
Turnover - 69
Cost of sales - (36)
Gross profit - 33
Administration (3) (8)
Profit before Gift Aid payment (3) 25
Retained profit brought forward 25 -
Gift Aid payment to the company (22) -
Retained in subsidiary - 25
Analysis of net assets / liabilities:
Current assets 22 46
Current liabilities (22) (21)
Net assets - 25
----- End of picture text -----

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

5. Hft Property Limited

Hft has a wholly owned property subsidiary, which is incorporated in the England and Wales, with a registered office at 5/6 Brook Office Park, Folly Brook Road, Emersons Green, Bristol. Hft Property Limited (company registration 03216502) develops property to provide residential accommodation for people with learning disabilities. There has been no trade in the current or previous year. A summary of the net assets is shown below. Audited financial statements are not filed with Companies House this year.

----- Start of picture text -----
2021 2020
£’000 £’000
Current assets 4 6
Current liabilities (4) (6)
Net assets - -
----- End of picture text -----

6. LUV2MeetU Community Interest Company

Hft is the sole member of a company limited by guarantee. Luv2meetU Community Interest Company (company registration 07399511) is incorporated as a Community Interest Company and is registered in England and Wales, with a registered office at 5/6 Brook Office Park, Folly Brook Road, Emersons Green, Bristol and the operating office address at Euroway House, Roydsdale Way, Bradford, BD4 6SE. A summary of the trading results is shown below. The Board will consider the accounts for approval on 23.09.21. Audited financial statements are filed with Companies House.

----- Start of picture text -----
2021 2020
£’000 £’000
Turnover 91 83
Operating expenditure (80) (62)
Net income 11 21
Retained profit brought forward 10 (11)
-
Tax charge (4)
Retained in subsidiary 17 10
Current assets 23 11
Current liabilities (6) (1)
Net assets 17 10
----- End of picture text -----

8. Expenditure

a) Analysis of expenditure

----- Start of picture text -----
Direct staff Other Support Total Total
costs direct costs costs 2021 2020
£’000 £’000 £’000 £’000 £’000
Raising funds 814 165 221 1,200 1,274
Charitable activities:
Service costs 58,193 13,510 9,462 81,165 84,717
Special projects 797 419 - 1,216 1,016
Community Interest 80 - - 80 62
company costs
Subsidiary 3 - - 3 -
59,073 13,929 9,462 82,464 85,795
Other:
Marketing and publicity costs 366 84 - 450 488
Trading activities costs - 3 - 3 8
Investment management fees - 37 - 37 37
Exceptional (including CV19) - 1,636 - 1,636 750
Governance - - 212 212 254
366 1,760 212 2,338 1,537
Total expenditure 60,253 15,854 9,895 86,002 88,606
----- End of picture text -----

Special project costs relate to projects funded from charitable sources and the purchase of specific items of equipment for services. All activities are carried out directly by the company.

Exceptional costs include all expenditure related to maintaining the organisation throughout the pandemic, including PPE (Personal Protective Equipment), training, computer equipment for staff and clients, temporary infrastructure improvements to enable access and visits and exceptional staff costs. Prior year costs of £750k related to RBS buy out costs.

7. Other Income

Other income comprises:

----- Start of picture text -----
2021 2020
£’000 £’000
Exceptional (including CV19) 1,429 -
(Losses) / Gains on disposal of tangible fixed assets (138) (446)
Total other income 1,291 (446)
----- End of picture text -----

b) Analysis of support costs

----- Start of picture text -----
Raising funds Service costs Total 2021 Total 2020
£’000 £’000 £’000 £’000
Operations 32 1,391 1,423 1,739
Human Resources 53 2,279 2,332 2,413
Finance and Company Secretary 39 1,623 1,662 1,216
Estates 34 1,449 1,483 1,514
Information Technology 59 2,540 2,599 2,408
Governance - 212 212 254
Corporate Management 4 180 184 557
Total support costs 221 9,674 9,895 10,101
----- End of picture text -----

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

c) Analysis of professional and Trustee costs

----- Start of picture text -----
2021 2020
£’000 £’000
Internal assurance 43 16
External audit, tax advice and assurance 59 56
Legal, professional & consultancy fees 33 52
Trustee expenses and meeting costs 4 9
Trustee training - 1
Trustee liability and other insurance costs 12 13
AGM costs - 1
Total professional and Trustee costs 151 148
----- End of picture text -----

10. Employees

The average number of persons employed by the group & parent charity during the year and their salary and wages costs were:

----- Start of picture text -----
2021 2020
Number Number
£’000 £’000
Salaries:
Fundraising & Trading 23 724 24 657
Services & Projects 2,909 48,422 3,384 50,602
Special Projects 44 797 31 544
Support & Governance 177 6,021 171 5,239
3,153 55,964 3,610 57,042
Other staff costs:
National Insurance costs 4,335 4,340
Pension costs 1,517 1,989
61,816 63,371
----- End of picture text -----

9. Net Income / (Expenditure)

Net income/(expenditure) is stated after charging:

----- Start of picture text -----
2021 2020
£’000 £’000
Operating lease charges:
Land & buildings 1,259 1,228
Motor vehicles 644 661
Auditor’s remuneration (company £46k; 2020: £43k) 46 43
Auditor’s remuneration – tax advice, assurance reports 13 13
Impairment of fixed assets 1,792 -
Depreciation 1,526 1,068
Amortisation 551 408
Profit on the sale of fixed assets 138 446
----- End of picture text -----

----- Start of picture text -----
AC in front of his
flower beds
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The total emoluments of employees earning more than £60k (including benefits in kind, but excluding employer’s pension contributions) fall within the following bandings:

----- Start of picture text -----
2021 No. 2020 No.
£60,001 - £70,000 7 5
£70,001 - £80,000 1 1
£90,001 - £100,000 2 2
£100,001 - £110,000 - 1
£130,001 - £140,000 1 -
£150,001 - £160,000 - 1
£160,001 - £170,000 - 1
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For those staff whose emoluments exceed £60k per annum, pension contributions amounting to £31k (2020: £30k) were paid for the provision of money purchase benefits. All of these staff benefits accruing under the Group Personal Pension Plan and, in addition, two have accrued benefits under the defined benefit pension scheme (prior to the closure of the scheme).

Included within the employment costs are redundancy and termination payments totalling £312k (2020: £414k). These payments are recognised as soon as the liability to the charity crystallises under the terms of the agreement with the employee.

Key management personnel are deemed to be the Trustees together with the Executive Management team. The total emoluments of the Executive Management team were as follows:

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2021 2020
Group and parent
£’000 £’000
Emoluments 358 681
Employers national insurance contributions 43 73
Employers pension fund contributions 12 19
413 773
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No member of the Executive management team received any other remuneration such as long-term incentive schemes, shares or compensation for loss of office. No member of the Executive Management team waived any emoluments.

The Trustees received no emoluments during the year (2020: £nil). The aggregate amount of expenses incurred by Trustees during the year amounted to £nil (2020: £5k) due to remote meetings during the pandemic.

62

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

11. (a) Intangible Fixed Assets

----- Start of picture text -----
Computer
Group and company
software
Cost: At 1 April 2020 2,295
Additions 99
At 31 March 2021 2,394
Amortisation: At 1 April 2020 1,034
Charge for the year 551
At 31 March 2021 1,585
Net book value: At 31 March 2021 809
At 31 March 2020 1,261
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Included within the computer software is £nil (2020: nil) of assets in the course of construction.

----- Start of picture text -----
Liz and Sarah
enjoying a cream tea
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11. (b) Tangible Fixed Assets

----- Start of picture text -----
Freehold land Plant and Motor
Total
& buildings equipment vehicles
£’000
£’000 £’000 £’000
Company Cost: At 1 April 2020 76,537 2,317 869 79,723
Additions 599 54 654
Disposals (1,423) - (99) (1,522)
Transfers 1,376 (1,335) (41) -
At 31 March 2021 77,089 1,036 729 78,855
Depreciation: At 1 April 2020 16,304 1,431 855 18,590
Charge for the year 1,464 37 25 1,526
Impairment loss 1,792 - - 1,792
-
Disposals (790) (99) (889)
Transfers 614 (562) (52) -
At 31 March 2021 19,385 905 729 21,019
Net book value: At 31 March 2021 57,704 131 - 57,835
At 31 March 2020 60,233 886 14 61,133
Group Cost: At 1 April 2020 76,894 2,356 869 80,119
Additions 203 54 - 258
Disposals (1,423) - (99) (1,522)
Transfers 1,415 (1,374) (41) -
At 31 March 2021 77,089 1,036 729 78,855
Depreciation: At 1 April 2020 16,661 1,470 855 18,986
Charge for the year 1,068 37 25 1,130
Impairment loss 1,792 - - 1,792
Disposals (790) - (99) (889)
Transfers 653 (601) (52) -
At 31 March 2021 19,385 905 729 21,019
Net book value: At 31 March 2021 57,704 131 1 57,835
At 31 March 2020 60,233 886 14 61,133
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In the opinion of the Trustees there is no material difference between the carrying value of the land and buildings above, and the market value.

Impairment charges are shown as a cost to Charitable Activities in the SOFA.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

13. Stocks

12. Fixed Asset Investments

Stocks of £5k (2020: £5k) comprise bought in items for Hft Trading Limited.

----- Start of picture text -----
Group Company
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Market value:
At 1 April 2020 5,834 6,318 5,834 6,318
Income reinvestment 144 190 144 190
Net gain/(loss) on investment assets 941 (622) 941 (622)
Investment management charges (37) (52) (37) (52)
At 31 March 2021 6,882 5,834 6,882 5,834
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14. Debtors

----- Start of picture text -----
Group Company
2021 2020 2021 2020
Due within one year:
£’000 £’000 £’000 £’000
Loan due from Hft Trading Limited - - 10 10
Other amounts due from subsidiary - - - -
-Hft Property Limited - - - 1
Loan due from Dimensions (UK) Ltd 42 42 42 42
Fees and grants 4,379 3,889 4,339 3,876
Other debtors 789 560 793 560
Prepayments 1,240 1,037 1,240 1,037
Accrued income 1,518 1,679 1,518 1,679
7,968 7,207 7,942 7,205
----- End of picture text -----

Investments are represented by:

----- Start of picture text -----
Cost Market Value Gross income
Prepayments 1,240 1,037 1,240 1,037
2021 2021 2020 2021 2020
£’000 £’000 £’000 £’000 £’000 Accrued income 1,518 1,679 1,518 1,679
Investments listed in the UK: 7,968 7,207 7,942 7,205
Common investment funds 60 63 61 - -
The loan due from Hft Trading Limited is unsecured and renewable annually. Interest is charged at the
Fixed Interest 1,047 1,424 1,252 36 46 base lending rate of Lloyds Bank plc.
Equity shares 1,676 1,749 1,581 55 77 The loan due from Dimensions (UK) Limited represented an advance for the purchase of a property and
Property and other funds 1,102 1,290 1,049 43 39 was secured against this property. The loan was repayable only on the sale of the property, together with
Cash 220 201 473 - 1 specified proportions of the excess of the sale proceeds over the advance. The loan carried no interest.
Interest - - 18 - - 15. Cast at the bank and in hand
4,105 4,727 4,434 134 163
Investments listed outside the UK: Group Company
Equity shares 1,426 2,155 1,400 26 27 2021 2020 2021 2020
£’000 £’000 £’000 £’000
Company & Group 5,531 6,882 5,834 160 190
Cash and bank balances 9,141 5,608 9,097 5,568
9,141 5,608 9,097 5,568
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There are no particular investments which are considered to be individually material in the context of the overall investment portfolio, in either year. Hft owns the whole of the issued share capital of Hft Trading Limited: 100 ordinary shares of £1 each issued at par. Hft Trading Limited is registered in England and Wales.

----- Start of picture text -----
People we support
getting creative in Barnet
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Hft owns the whole of the issued share capital of Hft Property Limited: two ordinary shares of £1 each issued at par registered in England and Wales. In addition, as the sole member of a company limited by guarantee, Hft wholly controls Luv2meetU Community Interest Company. Luv2meetU Community Interest Company is incorporated as a Community Interest Company and registered in England and Wales.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

16. Creditors

----- Start of picture text -----
Group Company
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Due within one year:
Other amounts due from subsidiary
-Hft Property Limited - - 3 -
Mortgage loans (see note 19) - 40 - 40
Interest free loans (see note 18) 158 158 158 158
Trade creditors 2,343 916 2,315 903
Taxation and social security payable 1,086 1,158 1,082 1,158
Other creditors 117 253 117 253
Accruals 3,961 3,534 3,961 3,549
Deferred income 435 309 435 309
8,100 6,368 8,071 6,370
Due after more than one year:
Mortgage loans (see note 19) 250 315 250 315
250 315 250 315
Mortgage loans – repayable after more than one year:
Between one and two years - 40 - 40
Between two and five years - 65 - 65
In more than five years 250 250 250 250
250 355 250 355
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----- Start of picture text -----
Deferred income reconciliation Group £’000 Company £’000
At 1 April 2020 309 309
----- End of picture text -----

At 1 April 2020 309 309
Released during year (309) (309)
Provided during year 435 435
At 31 March 2021 435 435

Deferred income comprises income received in respect of fees relating to services provided after 31 March 2021.

17. Provisions for Liabilities

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Group & Company - At 1 April 2020 Additions Releases At 31 March 2021
Movement during the year £’000 £’000 £’000 £’000
Repairs provision 3 - 2 1
RBS Buyout Provision 680 29 30 679
683 29 32 680
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The RBS Buyout provision of £679k (2020: £680k) for professional fees and capital cost in relation to the buyout of the RBS pension scheme expected to be finalised in 2022. See note 24 (a).

18. Interest Free Loans

The interest free loans are repayable on demand. At 31 March 2021, the interest free loans were wholly covered by cash and investments.

19. Mortgage

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Group Company
Mortgage loans 2021 2020 2021 2020
£’000 £’000 £’000 £’000
Cornwall County Council 250 250 250 250
People 2000 Limited - 105 - 105
250 355 250 355
----- End of picture text -----

----- Start of picture text -----
Adrian and Jane in the garden
they’ve been maintaining.
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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

20. Statement of Funds

----- Start of picture text -----
Total
Restricted General Designated Pension Total
Unrestricted
Funds Reserve Funds Reserve Funds
Funds
£’000 £’000 £’000 £’000 £’000
£’000
----- End of picture text -----

Company At 1 April 2020: 18,312 6,745 48,345 - 55,091 73,402
Income 1,060 83,836 - - 83,836 84,896
Expenditure (1,437) (81,870) (2,608) - (84,477) (85,914)
Other recognised
gains/(losses)		 - 891 - - 891 891
Fixed asset transfers - - - - - -
At 31 March 2021 17,935 9,603 45,738 - 55,341 73,276
At 1 April 2019 18,390 9,422 48,885 - 58,307 76,697
Income 1,116 84,943 - - 84,943 86,058
Expenditure (1,194) (86,712) (595) - (87,306) (88,501)
Other recognised
gains/(losses)		 - (853) - - (853) (853)
Fixed asset transfers - (55) 55 - - -
At 31 March 2020 18,312 6,745 48,345 - 55,091 73,402
Group At 1 April 2020: 18,312 6,794 48,345 - 55,139 73,451
Income 1,060 83,927 - 83,927 84,987
Expenditure (1,437) (81,961) (2,608) - (84,569) (86,006)
Other recognised gains/
(losses)		 - 891 - - 891 891
Fixed asset transfers - - - - - -
At 31 March 2021 17,935 9,649 45,738 - 55,387 73,322
At 1 April 2019 18,390 9,424 48,885 - 58,309 76,699
Income 1,116 85,095 - 85,095 86,211
Expenditure (1,194) (86,817) (595) - (87,412) (88,606)
Other recognised
gains/(losses)		 - (853) - - (853) (853)
Fixed asset transfers - (55) 55 - - -
At 31 March 2020 18,312 6,794 48,345 - 55,139 73,451

Restricted funds - Comprises the project fund and the fixed asset fund (see note 23).

Unrestricted funds - The general reserve represents the working capital operating reserve of the group. The designated fund comprises the capital project fund and the fixed asset fund (see note 22). Transfers - The fixed asset transfers reflect the net funds expended on tangible fixed assets during the year. Land and buildings acquired from restricted funds are held in the restricted fixed asset fund.

21. Analysis of Group Net Assets Between Funds

----- Start of picture text -----
Restricted General Designated Total Funds Total Funds
Representation of
Funds Reserve Funds 2021 2020
fund balances
£’000 £’000 £’000 £’000 £’000
Group
Tangible & intangible assets 11,847 808 45,988 58,644 62,394
Fixed asset investments - 6,882 - 6,882 5,834
Cash and bank balances 6,088 3,053 - 9,141 5,608
Other current assets - 7,973 - 7,973 7,212
Current liabilities - (8,100) - (8,100) (6,599)
Long-term liabilities - (288) (250) (538) (315)
Provision for liabilities and charges - (680) - (680) (683)
Net assets 17,935 9,649 45,738 73,322 73,451
Company
Tangible & intangible assets 11,847 809 45,988 58,644 62,394
Fixed asset investments - 6,882 - 6,882 5,834
Cash and bank balances 6,088 3,009 - 9,097 5,568
Other current assets - 7,942 - 7,942 7,205
Current liabilities - (8,071) - (8,071) (6,601)
Long-term liabilities - (288) (250) (538) (315)
Provision for liabilities and charges - (680) - (680) (683)
Net assets 17,935 9,605 45,738 73,276 73,402
Restricted General Designated Total Funds Total Funds
Prior year Representation
Funds Reserve Funds 2020 2019
of fund balances
£’000 £’000 £’000 £’000 £’000
Group
Tangible & intangible assets 12,473 1,221 48,700 62,394 63,613
Fixed asset investments - 5,834 - 5,834 6,318
Cash and bank balances 5,839 (231) - 5,608 6,478
Other current assets - 7,212 - 7,212 7,794
Current liabilities - (6,559) (40) (6,599) (6,888)
Long-term liabilities - - (315) (315) (400)
Provision for liabilities and charges - (683) - (683) (216)
Net assets 18,312 6,794 48,345 73,451 76,699
Company
Tangible & intangible assets 12,473 1,221 48,700 62,394 63,613
Fixed asset investments - 5,834 - 5,834 6,318
Cash and bank balances 5,839 (271) - 5,568 6,240
Other current assets - 7,205 - 7,205 7,986
Current liabilities - (6,561) (40) (6,601) (6,844)
Long-term liabilities - - (315) (315) (400)
Provision for liabilities and charges - (683) - (683) (216)
Net assets 18,312 6,745 48,345 73,402 76,697
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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

22. Designated Funds - Group

Designated funds comprise the following individual funds:

----- Start of picture text -----
At 1 April Fixed asset Fund At 31 March
Expenditure
Mortgage loans 2020 transfers transfers 2021
£’000
£’000 £’000 £’000 £’000
Designated fixed asset fund 48,345 (2,232) - - 46,113
----- End of picture text -----

The fixed asset fund represents the net book value of all unrestricted tangible fixed assets, less associated mortgage liabilities.

----- Start of picture text -----
Jonathan getting
around on his Ice Trike
----- End of picture text -----

23. Restricted Funds - Group and Company

----- Start of picture text -----
At 31 March
At 1 April 2020 Income Transfer Expenditure
2021
£’000 £’000 £’000 £’000
£’000
General service restrictions:
Gloucestershire 134 21 (15) (19) 121
Sheffield 31 13 (22) - 22
The Wirral 46 27 (8) (37) 28
Kent South 35 17 (1) (7) 44
South Oxfordshire 134 1 (121) - 13
Herts & Essex 77 88 (55) (41) 68
Devon 325 4 (41) (13) 275
Leeds 78 3 (44) (1) 36
Bedfordshire 72 14 (40) (5) 40
Arden Vale 27 22 - (18) 31
Cornwall 19 62 14 (25) 69
Cornwall (RMH) 17 - - - 17
Kingston-upon-Thames 71 11 - (47) 35
North Oxfordshire 64 2 (30) (2) 34
Bristol 9 3 (1) (7) 4
Bradford 61 29 - (8) 81
Kent North 269 19 (154) (54) 80
Sussex 279 87 (23) (81) 262
Shropshire 42 20 (16) (18) 28
Leicestershire 23 10 (9) - 24
London 33 25 (6) (30) 22
Wiltshire 125 8 (94) (18) 20
Lancashire - 27 (23) - 3
Newcastle 16 1 (11) - 6
Forest of Dean 7 - - (2) 4
Flintshire 37 68 - (57) 48
Other project grants: L2MU, PT 361 478 18 (315) 542
Newcastle Edward Lloyd Trust 877 - - - 877
Other restrictions:
Edenbridge legacy 645 - - - 645
Extra Special Trust 774 - - - 774
Tiverton Drop-In Centre 57 - - - 57
Design for Life - East Midlands 408 - - - 408
Design for Life - Lancashire 53 - - - 53
West Sussex - Community Fund 137 - - - 137
General Regional Funds - - 682 - 682
Others Grants & Donations 498 - - - 498
Restricted project fund 5,835 1,060 - (807) 6,088
Restricted fixed asset fund 12,473 - (630) 11,847
Total restricted funds 18,312 1,060 - (1,437) 17,935
----- End of picture text -----

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

During the year a review of restricted funds was undertaken which resulted in enhanced clarity over historic misallocation of expenditure between regionally held funds. Costs which had been incurred for specific projects had been misallocated leaving specifically restricted funds as available whilst general restricted funds were depleted. In undertaking this exercise costs have now been allocated to the correct funds with no net impact on overall restricted funds but less specific restrictions on regional pots.

General Service restrictions - Funds donated specifically for services which comprises of donations to be spent locally on people we support and larger donations to be spent on building works.

Edenbridge Legacy - A specific donation of £1m from Mrs Potts for general use benefitting the people we support in Kent North – funds have been used to develop the hostel on site.

Extra Special Trust - donated £774k for the income to be used to provide people we support with exceptional items to enhance their lives.

Tiverton Drop-in Centre - In 2009 Sea Mead Charitable Trust donated £408k to support development of the Tiverton Drop-in Centre and to support an individual in his woodwork craft.

Design for Life - East Midlands: For the building and furnishing of 8 apartments in Kibworth Leicestershire.

Design for Life - Lancashire: A long term appeal headed primarily by Andrew Collinge and Joan McClarnon to refurbish buildings at Stanley Grange, Preston. The majority of these funds were transferred with the sale of Stanley Grange in the year ending 31st March 2016.

West Sussex - Community Fund: Since 2011 the Gerald Micklem Charitable Trust has donated £458k primarily for day services at Walberton concentrating mainly on Sussex Orchards. Money is given annually for the coming financial year.

General Regional Funds - Regional fundraising for general regional purposes, for future services and goods that are not funded by Local Authorities.

Other grants & donations - This includes individual smaller donations of less than £30k.

24. Pension Commitments

(a) Home Farm Trust Retirement Benefits Scheme

During the year, the group operated a defined benefits pension scheme (the “RBS”). On 26 October 2005 the company ceased contributions to this scheme in respect of future accruals. The members of the scheme were offered membership of the new Group Personal Pension Plan with effect from 1 November 2005, as detailed in (b) below.

FRS 102 - assumptions, asset, liability and reserves disclosures

The full valuation of the scheme as at 31 March 2021 was performed by the scheme actuary, an employee of Capita plc.

Employee benefit obligations

The assets and liabilities of the scheme on an FRS102 basis were:

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Fair value of scheme assets 13,087 12,313
Present value of defined benefit obligation (13,375) (12,544)
Surplus/(deficit) in scheme (288) (231)
Restriction on asset limit under paragraph 28.22 FRS 102 - -
Defined benefit asset/(liability) recognised in the balance sheet (288) (231)
----- End of picture text -----

Expense Recognised in the Statement of Financial Activities

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Net interest on defined benefit liability - -
Restriction on net interest due to paragraph 28.22 FRS 102 asset limit - -
Total recognised in statement of financial activities - -
----- End of picture text -----

Amounts taken to Other Comprehensive Income

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Actual return on scheme assets - gains and (losses) 1,328 (3,033)
Less: amounts included in net interest on the defined benefit liability (271) (299)
Return on scheme assets excluding interest income 1,057 (3,332)
Actuarial gains and (losses) (1,109) 385
Changes to the asset restriction under paragraph 28.22 FRS 102 - 2,716
Re-measurement loss recognised in Consolidated SoFA (52) (231)
----- End of picture text -----

Changes in the present value of the defined benefit obligation

The scheme is administered by the Trustees of the scheme and provides benefits based on final pensionable salary. The assets of the fund are held independently from those of the group and are invested with Legal & General Investment Management, M&G Investments and Newton Investment Management. Contributions are assessed on the advice of an independent qualified actuary on the basis of valuations using the projected unit method. The most recent full valuation of the scheme was as at 31 March 2017.

In July 2008 the company granted the RBS a £1m floating charge over its assets. The costs to the group of funding the RBS are accounted for in accordance with the rules on accounting for defined benefit pension schemes in FRS102.

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Opening defined benefit obligation 12,544 13,347
Benefits paid (554) (717)
Interest cost 276 299
Remeasurement (gains) and losses 1,109 (385)
Past service costs - -
Closing defined benefit obligation 13,375 12,544
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74 HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

75

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

Changes in the fair value of scheme assets

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Fair value of scheme assets at beginning of period 12,313 16,063
Interest income 271 299
Re-measurement gains and (losses) 1,057 (3,332)
Return on scheme assets excluding interest income - -
ContributIons by employer - -
Benefits paid including expenses (554) (717)
Closing fair value of scheme assets 13,087 12,313
----- End of picture text -----

The major categories of scheme assets as a percentage of total scheme assets:

----- Start of picture text -----
2021 2020
Group and Company
£’000 £’000
Equities and other growth assets 0% 0%
Government bonds 0% 0%
Corporate bonds 0% 0%
Insured annuities 98.5% 98.2%
Cash 1.5% 1.8%
Total 100% 100%
----- End of picture text -----

Pension costs are allocated solely against unrestricted reserves.

Cash commutation:

Members assumed to commute pensions benefits for tax free cash at retirement equal to 75% of the maximum permitted.

----- Start of picture text -----
2020
2021
Per annum
Future life expectancy of male aged 65 at balance sheet date 21.6 21.6
Future life expectancy of male achieving age 65 20 years after balance
23.0 22.9
sheet date
Future life expectancy of female aged 65 at balance sheet date 23.6 23.5
Future life expectancy of female achieving age 65 20 years after
25.1 25.1
balance sheet date
----- End of picture text -----

(b) Group Personal Pension Plan

During the year, the company operated a Group Personal Pension Plan provided through Scottish Equitable plc. With effect from the date of commencement of automatic enrolment in to The Peoples Pension Scheme (see below), the Group Personal Pension Plan closed to new members.

The company contributions to this plan are dependent on individual contracts of employment, varying between 3% and 9% of earnings. Members of this plan will contribute a minimum percentage of earnings as defined by government policy.

The assets of the plan, which are held separately from those of the company, are invested with Aegon Plc. The pension charge for the year was £165k (2020: £202k). The charge for the year includes £66k (2020: £80k) contributed under an employee salary-sacrifice scheme. An amount of £8k was owing to the plan in respect of contributions as at 31 March 2021 (2020: £15k).

Principal actuarial assumptions:

----- Start of picture text -----
2020
Group and Company 2021
Per annum
Discount rate 1.85% 2.25%
Retail prices index (RPI) inflation 3.45% 2.75%
Consumer prices index (CPI) inflation 2.45% 1.75%
Future increases in deferred pensions 2.45% 1.75%
Rate of increase to pensions in payment 3.20% 2.70%
RPI (max 5% pa) 3.20% 2.70%
Discretionary increase (per 6/4/1997 pension) none none
----- End of picture text -----

Post retirement mortality

Contributions paid and costs incurred, by the company, are charged as expenditure in the year in which they are payable, in accordance with the rules on accounting for defined contribution pension schemes in FRS 102.

(c) NHS Pension Scheme

Contributions have been made to the NHS Pension Scheme in respect of staff transferred to the company under the Bradford day services contract (since February 2012) and Oxford Vale contract (since September 2012).

The NHS Pension Scheme is an approved multi-employer defined benefit scheme. Hft is unable to identify its share of the assets and liabilities of the scheme at the balance sheet date and as such is treated as a defined contribution scheme in accordance with FRS102.

S2PA tables with CMI 2013 projections subject to a long-term improvement of 1.25%.

Contributions to the scheme are charged to the SOFA in the period in which they fall due. The current contribution rate is 14.38% as determined by Government Actuary using the Projected Unit Method. The amount charged to the SOFA was £201k (2020: £218k) and contributions owing to the scheme as at 31 March 2021 were £16k (2020: £17k).

76

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

(d) Local Government Pension Scheme

The company is classified as an admitting body for the West Yorkshire Pension Fund and Oxford County Council Pension Fund following the transfer of staff under the Bradford day services and Oxford Vale contracts.

The share of the deficit on each of these schemes attributable to the company has been calculated by the scheme actuaries and in the opinion of the Trustees is not material individually or in total. The schemes are accordingly accounted for as defined contribution schemes and contributions to the scheme are charged to the SOFA in the period in which they fall due.

The company’s contribution rate payable to the West Yorkshire Pension Fund is 0% and to the Oxford County Council Pension Fund is In April 20 contribution rate was 19.9%, from May 20 - 5 members changed to 30.1% and 1 member to 23.8%. In Jan 2021 the 5 members decreased to 26.1% of earnings, as determined by the scheme actuary in each case.

The amount charged to the SOFA in respect of both schemes was £72k (2020: £50k) and contributions owing to the schemes as at 31 March 2021 were £5k (2020: £4k).

In respect of the NHS pension scheme, and the West Yorkshire Pension Fund and the Oxford County Council Pension Fund, the main contributory bodies to these 3 schemes are publicly funded statutory bodies. Hft is responsible, under the agreements by which it provides pensions from these 3 pensions funds to its staff, for the contributions in respect of those employees only, and has no liability for any other participating entities’ obligations in respect of the schemes.

As a part of the new service in Flintshire Hft pays into the Clwyd Pension Fund. Contributions into the scheme are 20.1% and totalled £133k (2020 £147k) during the year with £10k (2020 £12k) owing to the scheme in respect of contributions.

(f) The Peoples Pension Scheme

To meet its legal obligations, from its staging date of 1 September 2013, the group commenced automatic enrolment of staff into The Peoples Pension Scheme; the scheme operates under a multi-employer Super Trust.

In addition to the statutory contribution levels of 1% of salary, which will rise in coming years, the group will contribute a maximum of a further 3% of salary, to match an employee’s voluntary increase.

Contributions paid and costs incurred, by the group, are charged as expenditure in the year in which they are payable, in accordance with the rules on accounting for defined contribution pension schemes in FRS102.

The pension charge for the year was £880k (2020: £847k). An amount of £71k was owing to the plan in respect of contributions as at 31 March 2021 (2020: £77k).

(g) Other pension schemes

During the year, contributions have been made towards schemes in respect of employees transferred on acquisition of the Care Fund group and the Edward Lloyd Trust. The group contributions to this plan are fixed amounts, dependent on individual contracts of employment.

Contributions paid & costs incurred, by the group, are charged as expenditure in the year in which they are payable, in accordance with the rules on accounting for defined contribution pension schemes in FRS 102.

The assets of the plan, which are held separately from those of the group, are invested with Scottish Equitable plc, Friends Provident plc, Nest and Legal & General. The pension charge for the year was £7k (2020: £9k). An amount of £0.4k was owing to the plan in respect of contributions as at 31 March 2021 (2020: £0.6k).

(e) Care Fund Group Personal Pension Plan

During the year, contributions have been made to the Care Fund Limited group personal pension plan in respect of employees transferred on acquisition of the Care Fund group. With effect from the date of commencement of automatic enrolment into The Peoples Pension Scheme (see below), the Group Personal Pension Plan closed to new members.

The group contributions to this plan are dependent on individual contracts of employment, varying between 3% and 13% of earnings and are calculated based on individual salaries at 1 April each year.

Contributions paid and costs incurred, by the group, are charged to expenditure in the year in which they are payable, in accordance with the rules on accounting for defined contribution pension schemes in FRS 102.

The assets of the plan, which are held separately from those of the group, are invested with Standard Life plc. The pension charge for the year was £23k (2020: 26k). An amount of £2k was owing to the plan in respect of contributions as at 31 March 2021 (2020: £2k).

25. Financial Commitments

Total minimum commitments for non-cancellable operating leases are as follows:

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2021 2020
Land and Land and
buildings Other buildings Other
£’000 £’000 £’000 £’000
Amounts payable within one year 684 493 831 653
Amounts payable between one and five years 1,913 665 1,909 1,005
Amounts payable in over five years 3,202 - 3,274 -
5,799 1,158 6,014 1,658
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26. Capital Commitments

There are no capital commitments to report.

27. Contingent Liabilities

There are no contingent liabilities to report.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

28. Related Party Transactions

HF Trust Limited is the parent company within a group that prepares consolidated financial statements. The parent company has the following transactions with other group companies:

Hft has a loan of £10k due and an outstanding balance of £12k from Hft Trading Limited. A management charge of nil was incurred by Hft Trading Limited (2020: £1.6k)

Hft has no outstanding balance due from LUV2MEETU CIC. Costs of £74k were recharged to LUV2MEETU CIC (2020:£62k)

(a) Related transactions in parent company for year ending 31 March 2021:

Sales
£’000		 Purchases
£’000		 Debtor
£’000		 Creditor
£’000
HFT Property Limited - - - 3
HFT Trading Limited - - 22 -
Luv2meetU - - - -
Total - - 22 3

(b) Related transactions in parent company for year ending 31 March 2020:

Sales
£’000		 Purchases
£’000		 Debtor
£’000		 Creditor
£’000
HFT Property Limited - - 1 -
HFT Trading Limited - - 35 -
Luv2meetU - - - -
Total - - 36 -

29. Capital

The charity is a parent company limited by guarantee. Each member has undertaken to contribute £10 to the assets of the group to meet its liabilities if called on to do so. The total amount guaranteed by members at 31 March 2021 is £1k (2020: £1k).

30. Financial Instruments

The company’s financial instruments are as follows:

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Group Company
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Financial assets
Debt instruments
Trade debtors 4,379 3,889 4,339 3,877
Accrued Income 1,518 1,679 1,518 1,679
Intercompany debtors - - 10 35
Loan due from Dimensions UK 42 42 42 42
Other debtors 789 560 793 560
6,728 6,169 6,702 6,193
Equity Investments
Listed investments 6,882 5,834 6,882 5,834
Financial Liabilities
Mortgage loans 250 315 250 315
Interest free loans 158 158 158 158
Bank overdraft - - - -
Accruals 3,961 3,766 3,961 3,780
Trade creditors 2,343 916 2,315 903
Other creditors 117 253 117 253
6,829 5,408 6,801 5,409
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Equity Instruments

Equity instruments that are listed on a regulated stock exchange are measured at fair value using observable market inputs. The inputs used in valuing the instruments include indexes provided by these regulated markets.

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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

31. Restricted Funds Prior Year - Group and Company

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At 1 April Fixed asset At 31 March
2019 Income Expenditure transfers 2020
£’000 £’000 £’000 £’000 £’000
General service restrictions:
Gloucestershire 149 45 (60) - 134
Sheffield 23 12 (4) - 31
The Wirral 27 19 - - 46
Kent South 27 22 (14) - 35
South Oxfordshire 126 22 (15) - 134
Herts & Essex 61 22 (6) - 77
Devon East 44 4 (35) - 13
Devon North East legacy 312 - - - 312
Leeds 56 26 (4) - 78
Bedfordshire 53 22 (3) - 72
Arden Vale 65 12 (50) - 27
Cornwall 9 34 (24) - 19
Cornwall (RMH) 17 - - - 17
Kingston-upon-Thames 72 15 (16) - 71
North Oxfordshire 44 25 (5) - 64
Bristol 7 4 (3) - 9
Bradford 76 10 (25) - 61
Kent North 212 67 (10) - 269
Sussex 214 202 (137) - 279
Shropshire 34 12 (3) - 42
Leicestershire 22 10 (9) - 23
London 17 22 (6) - 33
Wiltshire 117 12 (4) 125
Lancashire 2 1 (4) -
Newcastle 16 1 (1) 16
Forest of Dean 10 1 (4) - 7
Flintshire 43 (6) 37
Other project grants: L2MU, PT 183 451 (273) - 361
Newcastle Edward Lloyd Trust 877 - - - 877
Other restrictions:
Edenbridge legacy 645 - - - 645
Extra Special Trust 774 - - - 774
Tiverton Drop-In Centre 57 - - - 57
Design for Life - East Midlands 408 - - - 408
Design for Life - Lancashire 53 - - - 53
West Sussex -
137 - - 137
Community Fund
Others Grants & Donations 498 - - - 498
Restricted project fund 5,444 1,116 (721) - 5,835
Restricted fixed asset fund 12,946 - (473) - 12,473
Total restricted funds 18,390 1,116 (1,194) - 18,312
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HF Trust Limited Annual Report and Consolidated Financial Statements to 31 March 2021

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Company Registration No. 734984 | Registered Charity No: 313069 | Company registered in England No: 734984