Charity Registration No. 512619
Company Registration No. 01630317 (England and Wales)
HOUSE OF LIGHT TRUST LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
HOUSE OF LIGHT TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees W Bell S Macredie C Charnley J Vout J Millea Secretary J Millea Charity number 512619 Company number 01630317 Registered office The Cornerstone 115 Doncaster Road Rotherham S65 2BN Auditor Hart Shaw LLP Europa Link Sheffield Business Park Sheffield S9 1XU
HOUSE OF LIGHT TRUST LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent auditor's report | |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the accounts | 12 - 18 |
HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in January 20 1 5.
Objectives and activities
The charity's aims and objectives are to provide homes in the community where people with learning disabilities, which may include mild physical impairment, are encouraged and assisted to live their lives to the full. Residents live in either a large home accommodating eight adults, or in one of two smaller homes, housing a further seven adults in total. The All residents participate in the running of the homes, according to ability, but all take pride in helping and planning their own lives. Residents own individual choices regarding all aspects of daily living are encouraged including clothing, outings, holidays, room furnishings etc. The staff assist and support as appropriate. A key ethos of the trust is to promote a community environment within its homes.
The Trust provides a safe, secure and caring environment for very vulnerable adults within a unique community ethos.
It’s principal source of funding is Rotherham Borough Council (RMBC) which pays weekly fees for residents that it places with the trust. The occupants of the large home continue to be regarded as residents, with the Trust receiving funding for a full residential care package. The occupants of the two smaller homes are now regarded as tenants, with the Trust receiving funding for social care and support, the tenants paying for their own living costs out of their personal income and benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Achievements and performance
The Trust aims to operate at full occupancy.
The Care Quality Commission continues to be satisfied with the standard of care provided in all of the trust's homes, as demonstrated by the outcomes of ongoing assessments and inspections. The trust was judged to be assessment compliant by Rotherham Metropolitan Borough Council, with very positive feedback during the assessment process, maintaining the very high regard the local authority holds of the Trust.
The Trust has successfully implemented a range of new and strict working practices to control the risk of COVID -19 infection within the three homes. These include the sourcing and use of personal protective equipment (PPE), infection control measures and testing for residents/tenants and staff. Maintaining communication with the families and friends of residents/tenants has also been a challenge well met.
The Trust has successfully moved from residential care to supported living in each of the two smaller homes.
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HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Financial review
The trustees are satisfied with the financial management over the financial year.
It continues to be the policy of the charity that unrestricted funds that have not been designated for a specific use should be maintained at a level to ensure that, in the event of a drop in occupancy and the associated reduction in income, it will be able to continue current activities whilst consideration is given to ways in which additional funding might be raised. Moving forward reserves will be monitored and replaced as appropriate.
The financial results are set out on page 8. The charity has made a surplus in the year of £21,711 (2020 - deficit of £34,329) and as at 31 March 2020 the charity held restricted reserves of £13,400 (2020 - £14,000) and total reserves of £315,987 (2020 - £294,276).
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Factors affecting the Trust’s performance are as follows:
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Loss of income due to low capacity. The Trust carries a financial reserve to cover short to medium term loss of income and would take action to reduce staff costs should this become a longer term issue. The trustees are confidents that RMBC is always likely to look to fill any vacant places, as the Trust offers better value for money than other suppliers in Rotherham.
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The overall financial challenge faced by RMBC has led to pressure to reduce fees. The Trust has already successfully engaged with RMBC to mitigate the potential impact of previous plans to reduce fees and is confident that it can demonstrate, through needs based analysis, the level of required support for each resident, linked to clear components of cost.
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Both RMBC and CGC inspections could pose a risk to the ability of the Trust to operate and have residents placed with it. Well established policies and procedures are in place which provides assurance to the trustees that this risk has been effectively mitigated.
The trust will aim to maintain full occupancy and its programme of planned maintenance of the buildings and contents will continue.
The Trust will monitor and evaluate the effects, both positive and negative, of implementing supported living on all stakeholders of the trust. This will help to inform future considerations regarding any potential change to supported living for the residents of the large home, a decision which would have implications for the property.
The Trust will carry out a review of its governance processes, in particular the role of directors in providing more formalised support and challenge to the Chief Executive and the management team. This will help to define the role ready for the recruitment of additional directors with specific expertise.
Structure, governance and management
The charity is a company limited by guarantee without share capital and is a registered charity. The charity is governed by its Memorandum and Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
W Bell
S Macredie
C Charnley J Vout J Millea
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
There is a Board of trustees, who meet regularly, and a standing finance sub committee, with other sub committees and House Support groups meeting as required by the Board. All sub committees report back to the full Board who have the power to make final decisions.
The Chief Executive Officer is the overall manager of the trust and the registered manager of the Cornerstone, assisted in the latter by an operational manager. The two small homes share one separate registered manager who also has operational management responsibility for the small homes. Deputies are in place to assist each operational manager.
Where new trustees are appointed they receive an induction which includes the aims and objectives of the trust and the responsibilities of trustees.
Trustees are encouraged to keep up to date on changes to their responsibilities.
Asset cover for funds
Note 15 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.
Disabled persons
The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Statement of trustees' responsibilities
The trustees, who are also the directors of House of Light Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with the company's articles, a resolution proposing that Hart Shaw LLP be reappointed as auditor of the company will be put at a General Meeting.
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HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Covid-19
Substantive information about what has now been identified as coronavirus (or Covid-19) came to light in early 2020. On 23 March 2020, the government placed the UK on a police-enforced lockdown. Consequently, changes were made to the running of the houses to enable us to keep staff and residents as safe as possible. This has not negatively effected the income of the charity, nor have we see any significant additional costs as a result.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees' r eport was approved by the Board of Trustees.
J Millea
Trustee Dated: 29 November 2021
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HOUSE OF LIGHT TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HOUSE OF LIGHT TRUST LIMITED
Opinion
We have audited the financial statements of House of Light Trust Limited (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’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 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.
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HOUSE OF LIGHT TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOUSE OF LIGHT TRUST LIMITED
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees' r eport; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .
Our approach at the planning stage which contributed to designing procedures included:
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Identifying laws and regulations at the planning stage that were significant to the entity and that could reasonably be expected to have a material effect on the financial statements from our general knowledge along with our client and sector specific experience.
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Discussions with the Trustees and those charged with governance regarding where they considered the entity to be susceptible to fraud along with investigations of any knowledge of actual, suspected or alleged fraud prior to commencing the fieldwork.
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Considering the controls in place to mitigate the risk of irregularities, including fraud.
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Communicating identified laws and regulations to the audit team.
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Ensuring the audit team had recent, relevant experience and were aware of the significant laws and regulations relating to the entity and it’s sector along with the competence to identify instances of noncompliance.
The significant laws and regulations directly affecting the financial statements where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements included; The Charities Act and related regulations, Care Quality Commission, The Statement of Recommended Practice (SORP), The Companies Act 2006 as well as other operational laws and regulations.
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HOUSE OF LIGHT TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOUSE OF LIGHT TRUST LIMITED
We assessed the overall susceptibility of the financial statements to material misstatement, including fraud, as low.
In response to the risks our approach included but was not limited to:
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Reviewing financial statement disclosures and agreeing to supporting documentation to assess compliance with applicable laws and regulations.
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Performing analytical procedures to identify any unusual or unexpected relationships.
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Reviewing minutes of meetings of those charged with governance.
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Discussions with those charged with Governance regarding any instances of non-compliance with laws and regulations or any actual or potential litigation and claims.
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Reviewing legal and professional costs for any indication of non-compliance with laws and regulations.
Management override may cause there to be a material misstatement within the financial statements and may present itself in a number of ways, for example:
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Override of internal controls (e.g. segregation of duties);
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Entering into transactions outside the normal course of the charity, especially with related parties;
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Fraudulent income recognition, including income being recorded in the wrong period and fund;
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Presenting bias in accounting judgements and estimates.
In relation to how the risk of management override of controls was addressed, our approach included but was not limited to:
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Assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias
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Investigating rationale of significant or unusual transactions and agreeing to underlying records
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Obtaining and reviewing Type 2 reports from Service organisations
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Reviewing related parties and transactions with them to ensure these were not outside the normal course of business
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Enquiring with management as to whether they had any knowledge of any actual or suspected fraud
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Reviewing of all material journal entries made throughout the year as well as those made to prepare the financial statements
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Increased substantive testing across all material income streams.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly followed auditing standards. There is a higher risk of irregularities relating to fraud being undetected as these may involve the override of internal controls, collusion, deliberate omissions and/or misrepresentations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s :// www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report.
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HOUSE OF LIGHT TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOUSE OF LIGHT TRUST LIMITED
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Natalie Bracey (Senior Statutory Auditor) for and on behalf of Hart Shaw LLP
2 December 2021
Chartered Accountants Statutory Auditor
Europa Link Sheffield Business Park Sheffield S9 1XU
Hart Shaw LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
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HOUSE OF LIGHT TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 2 24,023 - Charitable activities 3 664,259 - Investments 4 42 - Total income 688,324 - Expenditure on: Charitable activities 5 666,613 - Net incoming/ (outgoing) resources before transfers 21,711 - Gross transfers between funds 600 (600) Net income/(expenditure) for the year/ Net movement in funds 22,311 (600) Fund balances at 1 April 2020 280,276 14,000 Fund balances at 31 March 2021 302,587 13,400 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 As restated As £ £ £ 24,023 2,561 - 664,259 600,819 - 42 225 - 688,324 603,605 - 666,613 637,934 - 21,711 (34,329) - - 600 (600) 21,711 (33,729) (600) 294,276 314,005 14,600 315,987 280,276 14,000 |
Total 2020 restated £ 2,561 600,819 225 603,605 637,934 (34,329) - (34,329) 328,605 294,276 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
All income and expenditure in the prior year related to unrestricted funds.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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HOUSE OF LIGHT TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Unrestricted funds |
2021 £ 26,349 128,851 155,200 (21,011) |
£ 181,798 134,189 315,987 13,400 302,587 315,987 |
2020 as restated £ 17,021 103,342 120,363 (18,296) |
£ 192,209 102,067 294,276 14,000 280,276 294,276 |
|---|---|---|---|---|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 29 November 2021
J Millea
Trustee
Company Registration No. 01630317
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HOUSE OF LIGHT TRUST LIMITED
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021
| Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 16 Investing activities Investment income received Net cash generated from investing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2021 £ 42 |
£ 25,467 42 - 25,509 103,342 128,851 |
2020 £ 225 |
£ (7,848) 225 - (7,623) 110,965 103,342 |
|---|---|---|---|---|
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
House of Light Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Cornerstone, 115 Doncaster Road, Rotherham, S65 2BN.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Resources expended are accounted for on the accruals basis. All costs incurred are of a direct charitable nature, other than audit and accountancy related costs which are treated as Governance costs.
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings 2% straight line Fixtures, fittings & equipment 15% straight line Motor vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9 Retirement benefits
The charity operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.
2 Donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Donations and gifts | 24,023 | 2,561 | |
| 3 | Charitable activities | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Sales within charitable activities | 664,259 | 600,819 |
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
4 Investments
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Interest receivable | 42 | 225 | |||
| 5 | Charitable activities | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Staff costs | 538,569 | 491,636 | |||
| Depreciation and impairment | 10,411 | 10,919 | |||
| Other costs | 114,133 | 132,379 | |||
| 663,113 | 634,934 | ||||
| Share of governance costs (see note 6) | 3,500 | 3,000 | |||
| 666,613 | 637,934 | ||||
| 6 | Support costs | ||||
| Support costs | Governance | 2021 | 2020 | ||
| costs | |||||
| £ | £ | £ | £ | ||
| Other costs | - | 3,500 | 3,500 | 3,000 | |
| - | 3,500 | 3,500 | 3,000 | ||
| Analysed between | |||||
| Charitable activities | - | 3,500 | 3,500 | 3,000 |
Activities undertaken directly include payments to the auditors of £ 3,500 (2020 - £ 3,000) for audit fees , which can be found in Governance costs and £ 2,760 (2020 - £ 840) for other services , which can be found within other costs for charitable activities .
7 Trustees
None of the trustees (or any persons connected with them) were remunerated or reimbursed for expenses during the year.
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
8 Employees
The average monthly number of employees during the year was:
| Carers Trustees Total Employment costs Wages and salaries Social security costs Other pension costs |
2021 Number 24 5 29 2021 £ 489,688 34,832 14,049 538,569 |
2020 Number 22 5 27 2020 £ 448,575 30,986 12,075 491,636 |
|---|---|---|
There were no employees whose annual remuneration was £60,000 or more.
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 9 Tangible fixed assets Land and buildings Fixtures, fittings & equipment Motor vehicles £ £ £ Cost At 1 April 2020 345,279 96,903 31,789 At 31 March 2021 345,279 96,903 31,789 Depreciation and impairment At 1 April 2020 161,216 89,765 30,781 Depreciation charged in the year 6,898 3,261 252 At 31 March 2021 168,114 93,026 31,033 Carrying amount At 31 March 2021 177,165 3,877 756 At 31 March 2020 184,063 7,138 1,008 All fixed assets are used for direct charitable purposes. 10 Debtors 2021 Amounts falling due within one year: £ Trade debtors 18,816 Prepayments and accrued income 7,533 26,349 11 Creditors: amounts falling due within one year 2021 £ Other taxation and social security 7,257 Other creditors 4,020 Accruals and deferred income 9,734 21,011 |
Total £ 473,971 473,971 281,762 10,411 292,173 181,798 192,209 2020 £ 9,580 7,441 17,021 2020 £ 9,064 3,710 5,522 18,296 |
|---|---|
12 Retirement benefit schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £14,049 (2020 - £12,075).
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
13 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | |||||||
|---|---|---|---|---|---|---|---|
| in funds | |||||||
| Balance at | Transfers | Balance at | Incoming | Balance at | |||
| 1 | April 2019 | 1 April 2020 | resources | 31 |
March 2021 | ||
| £ | £ | £ | £ |
£ | |||
| RMBC Grant | 14,600 | (600) | 14,000 | (600) |
13,400 |
The RMBC Grant was recieved to help purchase 54 Doncaster Road. Transfers out relate to depreciation on this property.
14 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 168,398 13,400 Current assets/ (liabilities) 134,189 - 302,587 13,400 |
TotalUnrestricted funds Restricted funds 2021 2020 2020 £ £ £ 181,798 178,209 14,000 134,189 102,067 - 315,987 280,276 14,000 |
Total 2020 £ 192,209 102,067 294,276 |
|---|---|---|
15 Related party transactions
Remuneration of key management personnel
The total amount of employee benefits received by key management personnel is £109,933 (2020 - £100,918).
N o guarantees have been given or received.
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HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 16 | Cash generated from operations | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Surplus/(deficit) for the year | 21,711 | (34,329) | |
| Adjustments for: | |||
| Investment income recognised in statement of financial activities | (42) | (225) | |
| Depreciation and impairment of tangible fixed assets | 10,411 | 10,919 | |
| Movements in working capital: | |||
| (Increase)/decrease in debtors | (9,328) | 12,060 | |
| Increase in creditors | 2,715 | 3,727 | |
| Cash generated from/(absorbed by) operations | 25,467 | (7,848) | |
| 17 | Analysis of changes in net funds | ||
| The charity had no debt during the year. | |||
| 18 | Prior period adjustment | ||
| Reconciliation of fund balances | |||
| At 1 Apr 2019 | At 31 Mar | ||
| 2020 | |||
| £ | £ | ||
| Fund balances as previously reported | 328,605 | 313,585 | |
| Adjustment to income and trade debtors | - | (19,309) | |
| Fund balances as at 31 March 2020 | 328,605 | 294,276 | |
| Reconciliation of net movement in funds | |||
| 2020 | |||
| £ | |||
| Net movement in funds as previously reported | (15,020) | ||
| Adjustment to income and trade debtors | (19,309) | ||
| Net movement in funds | (34,329) |
Notes to reconciliations of teh prior period adjustment
During the preparation of the accounts for the year ended 31 March 2021 it was discovered that trade debtors were over stated by £19,309 in the prior year. A prior period adjustment has been included to correct this.
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