2022-03-31-accounts - Paul Sartori Foundation Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Reference and Administrative	Details
Report ofthe Trustees		2	to	10
Report ofthe Independent Auditors		11	to	13
Statement ofFinancial Activities			14
Balance Sheet		15	to	16
Cash Flow Statemeat			17
Notes to the Financial Statements		18	to	34
Detailed Statement ofFinancial	Activities	35	to	37

TRUSTEES	RRaymond
	S Alderman	(Vice Chair)
	EMozdiak
	P Thompson	MBE
	D Evans (Chair)
	P Lister
	FMackintosh	(Deputy	ViceChair)
	IGravell
	JTomlin
	D DHarries
	JEBevans (appointed		15.12.21)
COMPANY SECRETARY	SDade
REGISTERED OFFICE	Paul Sartori House
	Winch Lane
	HAVERFORDWEST
	Pembrokeshire
	SA61 1RP
REGISTERED COMPANY	01660450
NUMBER

Ashmole and	Co.
Chartered Certified Accountants		and Statutory
Auditors
Williamston	House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX
Lloyds TSB
7Victoria Place
Haver fordwest
Pembrokeshire
SA61 2JX

	for	the Year E	nded 31March	2022
					31.3.22	31.3.21
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	fimds
		Notes		f
INCOME AND ENDOWMENTS FROM Donations and legacies		2	529,736	108,187	637,923	403,149
Charitable activities Palliative Care		5	181,006	410,123	591,129	692,869
Other trading activities Investment income Other income		3 4 6	1,247,819 6,399 48,543	150	1,247,819 6,399 48,693	503,845 9,324 585,943
Total			2,013,503	518,460	2,531,963	2,195,130
EXPENDITURE ON Raising funds		7	1,125,311	70,490	1,195,801	912,616
Charitable activities Palliative Care			660,814	416,335	1,077,149	1,045,224
Total			1,786,125	486,825	2,272,950	1,957,840
Net gains on investments			1,617		1,617
NET INCOME			228,995	31,635	260,630	237490
Transfers between funds		20	15,798	(15,798)
Net movement in funds			244,793	15,837	260,630	237490
RECONCILIATION	OF FUNDS
Total funds brought	forward		2,020,609	71,003	2,091,612	1,854,322
TOTAL FUNDS CARRIED FORWARD			2,265,402	86,840	2,352,242	2,091,612

				31.3.22	31.3.21
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	fimds
	Notes
FIXEDASSETS
Tangible assets Investments	14 15	674484 136,617		674,284 136,617	696,321
		810,901		810,901	696,321
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand	16 17	213,336 1,390,861	41,883 44,957	255,219 1,435,818	3,069 212,924 1,345,608
		1,604,197	86,840	1,691,037	1,561,601
CREDITORS
Amounts falling due within one year	16	(148726)		(148226)	(160,375)
NET CURRENT ASSETS		1,455,971	86,840	1,542,611	1,401426
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,266,872	86,840	2,353,712	2,097,547
PROVISIONS FORLIABILITIES	19	(1,470)		(1,470)	(5,935)
NET ASSETS		2465,402	86,840	2,352442	2,091,612
FUNDS	20
Unrestricted funds
Restricted funds				2465,402	2,020,609
				86,840	71,003
TOTAL FUNDS
				2,352,242	2,091,612

			31.3.22	31.3.21
		Notes
Cash flows from operating activities
Cash generated &om operations		22	236,630	227,007
Net cash provided by operating activities			236,630	227,007
Cash flows from investing activities
Purchase oftangible fixed assets Purchase offixed asset investments Sale oftangible fixed assets			(18,235) (135,000) 416	(39,555)
Interest received			6,399	9,324
Net cash used in investing activities			(146,420)	(30731)
Change in cash and cash equivalents	in the
reporting period Cash and cash equivalents at the beginning ofthe reporting period			90,210 1,345,608	196,776 1,148,832
Cash and cash equivalents at the end	ofthe
reporting period			1,435,818	1,345,608

				31.3.22	31.3.22	31.3.21	31.3.21
Fundraising income Lottery income Sponsorship income				17,132 4,170 167		3,785 4,613 625
Room hire and rent income				25,000		24,900
Total fundraising income					46,469		33,923
Merchandise sales Shop income E-commerce income WG Kickstart Scheme				16,738 990,871 114,803 78,938		12,159 321,807 135,956
Total shop and merchandise		sales			1,201,350		469,922
Total income trom other	trading activities				1747,819		503,845
INVESTMENT INCOME
						31.3.22	31.3.21
Deposit account interest						6,399	9,324
All ofthe income arising	trom the above sources is			considered	to be for unrestricted	purposes.
INCOME FROM CHARITABLE ACTIVITIES
						31.3.22	31.3.21
		Activity
Service level agreements Grants		Palliative Palliative	Care Care			358,515 232,614	242,218 450,651
						591,129	692,869
Grants received, included	in the above, are		as follows:
						31.3.22	31.3.21
BigLottery Grant End ofLife Care Board Green Circular Economy PCC Enhancing Pembrokeshire		Grant				28,332 181,006 23,276	77,702 304,027 64,083 4,839
						232,614	450,651

OTHER INCOME		31.3.22	31.3.21
Clinical training Covid rates grants JRS grant Care Workers bonus		150 2,383 39,267	90 383,000 101,701 20,651
Covid SSP		1,826	329
Insurance claim			80,172
WG Kickstart Scheme		5,067
		48,693	585,943
RAISING FUNDS
Raising donations	and legacies	31.3.22	31.3.21
Staffcosts		20,709	17,847
Travelling Depreciation		787 2,347	190 2,352
		23,843	20,389

			31.3.22	31.3.22	31.3.21	31.3.21
Purchases			982		282
Staffcosts			127,351		68,928
Fundraising expenses			10,154		6,223
Volunteer expenses			705		232
Travelling			526		147
Total fundraising	expenses			139,718		75,813
Shop purchases			10,046		5,871
Upcycling charges					2,232
Shop staff costs			457,830		319,578
E-commerce staff	costs		63,095		61,104
Other shop expenses			86,588		72,960
Shop and container		rents	276,972		221,478
Fundraising expenses			2,371		2,343
Volunteer expenses			1,982		1,167
Van expenses			41450		34,786
Travelling			3,679		3,559
E-commerce costs			25,664		34,706
Depreciation			6,768		6,623
Total shop expenses				976,245		766,406
Support costs				55,995		50,008
Total expenditure	on other trading activities			1,171,958		892,251
Aggregate amounts					1,195,801	912,616

8.	CHARIT		ABLE	ACT	IVITI	ES COSTS
									Support
								Direct	costs (see
								Costs	note 9)	Totals
	Palliative		Care					970,605	106,544	1,077,149
9.	SUPPORT COSTS
									Governance
								Management	costs	Totals
	Other trading activities							51,639	4,356	55,995
	Palliative		Care					97,832	8,712	106,544
								149,471	13,068	162,539
	Support costs, included				in the	above, are as follows:
	Management
									31.3.22	31.3.21
							Other
							trading	Palliative	Total	Total
							activities	CareI	activities f,	activities f,
	Wages						17,769	35,540	53,309	55,545
	Social security						1,826	3,652	5,478	5,057
	Pensions						497	994	1,491	1,386
	Other operating			leases			423	847	1,270	1,273
	Rates and		water				208	416	624	439
	Insurance						7,011	14,023	21,034	13,869
	Light and		heat				3,378	6,757	10,135	9,367
	Telephone		and internet				2,366	6,048	8,414	9,525
	Printing,	stationery, postage				and advertising	4,317	5,169	9,486	6,371
	Subscriptions						234	526	760	908
	Repairs and renewals						2,146	4,389	6,535	3,515
	Computer		costs				7,340	15,953	23,293	22,699
	Garden upkeep						159	318	477	481
	Cleaning		and waste collection				2,352	4,705	7,057	6,788
	Travelling									20
	Sundry expenses						546	303	849	659
	Bank and		credit	card charges			2,055	167	2,222	1,351
	Remeasurement			ofpension provision			(999)	(1,998)	(2,997)	203
	Unwinding		ofpension		discount factor		11	23	34	158
							51,639	97,832	149,471	139,614

Governa	nce	costs
						31.3.22	31.3.21
				Other
				trading	Palliative	Total	Total
				activities	Care	activities	activities
Wages				1,974	3,949	5,923	6,172
Social security				203	406	609	562
Auditors'	remuneration			2,166	4,332	6,498	6,137
Auditors'	remuneration		for non audit work				1400
Professional		fees		13	25	38	13
				4,356	8,712	13,068	14,084

		31.3.22	31.3.21
Auditors' remuneration		6,498	6,137
Other assurance services			1,200
Depreciation - owned	assets	36,170	39,722
Other operating leases		1,270	1273
Deficit on disposal of	fixed assets	3,686	1,921
Auditors remuneration	for other services	4,865	5,462

				for the	Y	ear En	ded 3	1M	arch 202	2
12.	STAFF COSTS
											31.3.22	31.3.21
	Wages and salaries										1,443,792	1450,178
	Social security costs										95,509	78,824
	Other pension costs										32,365	25,820
											1,571,666	1,354,822
	The average monthly	number ofemployees			during the year was as follows:
											31.3.22	31.3.21
	Hospice Administrator										I	1
	Administration										3	3
	Marketing, Fundraising		&Retail								41	28
	Nurses &Carers										46	46
											91	78
	The number offull-time		equivalent	employees		during	the year		was as follows:
											31.3.22	31.3.21
	Hospice Administrator										I	I
	Administration										3	3
	Marketing, Fundraising		&Retail								32	24
	Nurses &Carers										29	27
											65	55
	In addition, a great amount of time, the value of which							is impossible		to reflect	in these financial	statements,
	donated by hundreds of		volunteers	throughout		Pembrokeshire.			No employee received in excess off60,000.
13.	COMPARATIVES FOR THK STATEMENT OF FINANCIAL ACITVITIKS - 31MARCH 2021
									Unrestricted		Restricted	Total
										funds	funds	funds
	INCOME AND ENDOWMENTS			FROM
	Donations and legacies									389,910	13739	403,149
	Charitable activities
	Palliative Care									287,060	405,809	692,869
	Other trading activities									503,845		503,845
	Investment income									9,324		9,324
	Other income									585,853	90	585,943
	Total								1,775,992		419,138	2,195,130
	EXPENDITURE ON
	Raising funds									907,644	4,972	912,616


COMPARATIVES		FOR THE STATEMENT OF FIN	NCIAL ACTIVITIES -31MARCH 2021		- continued
			Unrestricted	Restricted	Total
			funds	funds	funds
Charitable activities
Palliative Care			633,087	412,137	1,045/24
Total			1,540,731	417,109	1,957,840
NET INCOME			235761	2,029	237390
Transfers between	funds		(50,002)	50,002
Net movement in funds			185,259	52,031	237/90
RECONCILIATION		OF FUNDS
Total funds brought		forward	1,835,350	18,972	1,854,322
TOTAL FUNDS CARRIED FORWARD			2,020,609	71,003	2,091,612
TANGIBLE FIXED		ASSETS
			Freehold	Nursing	Office
			property	equipment	equipment
					f,
COST
At 1 April 2021			641,572	152,689	121,622
Additions			3,984		14351
Disposals				(5,014)	(21,932)
At 31March 2022			645,556	147,675	113,941
DEPRECIATION
At 1 April 2021			49,955	107,204	98,057
Charge for year			12,855	8,631	7,570
Eliminated on disposal				(2,796)	(21,154)
At 3 1 March 2022			62,810	113,039	84,473
NET BOOK VALUE
At 31March 2022			582,746	34,636	29,468
At 31March 2021			591,617	45,485	23,565

	Fixtures
	and	Motor
	fittings	vehicles	Website	Totals
COST
At 1 April 2021	48,392	44,697	2,520	1,011,492
Additions				18,235
Dispose la		(19,799)		(46,745)
At 31 March 2022	48,392	24,898	2,520	982,982
DEPRECIATION
At I April 2021	27,797	30,588	1,570	315,171
Charge for year	4,119	2,805	190	36,170
Eliminated on disposal		(I8,693)		(42,643)
At 31March 2022	31,916	14,700	1,760	308,698
NET BOOK VALUE
At 31March 2022	16,476	10,198	760	674484
At 31March 2021	20,595	14,109	950	696,321

FIXEDASSETINVESTMENTS	FIXEDASSETINVESTMENTS
			Listed
~TVALUE			investments
Additions			135,000
Revaluations			1,617
At 31 March 2022			136,617
NET BOOK VALUE
At 31 March 2022			136,617
At 31 March 2021
There were no investment	assets outside the UK.
Cost or valuation at 31March 2022 is represented		by:
			Listed
			investments
			8
Valuation in 2022			1,617
Cost			135,000
			136,617

Iffixed asset investments	had not been revalued they would have been included	at the following historic	al cost:
		31.3.22	31.3.21
		135,000
Fixed asset investments	were valued on an open market basis on 31 March 2022 by M&G Investments.
STOCKS
		31.3.22	31.3.21
Stocks			3,069
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.22	31.3.21
Other debtors		195/13	175,860
Tax refund fiom Gift Aid		21,719	1,458
VAT		3,715	5,924
Prepaid expenses		34,572	29,682
		255419	212,924
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.22	31.3.21
Sundry creditors		23,003	17,061
Social security and other	taxes	24,752	19,870
Other creditors		6,475	5,133
Accrued expenses		34447	49,402
Deferred income		59,749	68,909
		148/26	160,375

PROVISIONS	FOR LIA	BILI	TIES
					31.3.22	31.3.21
Pension deficit	provision				1,470	5,935
Reconciliation	ofopening	and	closing provisions:
					31.3.22	31.3.21
Provision at start ofperiod					5,935	7,032
Unwinding ofthe discount		factor (interest expense)			34	158
Deficit contributions paid					(1,502)	(1,458)
Remeasurements	- impact	ofchange in assumptions			203	203
Remeasurements	-amendments		to the contribution	schedule	(2,963)
Provision at end	ofperiod				1,470	5,935
Income and expenditure		impact:
					31.3.22	31.3.21
Interest expense					34	158
Remeasurements	- impact	ofchange in assumptions			(34)	203
Remeasurements	-amendments		to the contribution	schedule	(2,963)
					(2,963)	361
Assumptions
					31.3.22	1.3.21
Rate ofdiscount					2.35	0.66

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.4.21	in funds	funds	31.3.22
Unrestricted funds
General fund	2,020,609	228,995	15,798	2,265,402
Restricted funds
Restricted fimds	71,003	31,635	(15,798)	86,840
TOTAL FUNDS	2,091,612	260,630		2,352742

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted funds
General fund			2,013,503	(1,786,125)	1,617	228,995
Restricted funds
Restricted funds			518,460	(486,825)		31,635
TOTAL FUNDS			2,531,963	(2472,950)	1,617	260,630
Compsratives for movement		in funds
				Net	Transfers
				movement	between	At
			At 1.4.20	in funds	funds	31.3.21
Unrestricted funds
General fund			1,835,350	235461	(50,002)	2,020,609
Restricted funds
Restricted funds			18,972	2,029	50,002	71,003
TOTAL FUNDS			1,854,322	237490		2,091,612
Comparative net movement	in	funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
Unrestricted funds
General fund				1,775,992	(1,540,731)	235,261
Restricted funds
Restricted funds				419,138	(417,109)	2,029
TOTAL FUNDS				2,195,130	(1,957,840)	237790

						Net	Transfers
						movement	between		At
				At 1.4.20		in funds	funds		31.3.22
Unrestricted funds
General fund				1,835,350		464,256	(34,204)	2,265,402
Restricted	funds
Restricted	funds			18,972		33,664	34404		86,840
TOTAL FUNDS				1,854,322		497,920		2,352442
A current	year 12 months		and prior year 12 months	combined	net movement in funds,		included	in the	above are	as
follows:
				Incoming		Resources	Gains and	Movement
				resources		expended	losses		in funds
Unrestricted funds
General fund				3,789,495	(3,326,856)		1,617		464,256
Restricted	funds
Restricted	funds			937,598		(903,934)			33,664
TOTAL FUNDS				4,727,093	(4,230,790)		1,617		497,920
Restricted	funds comprise		the following:
				At
Restricted	fund		31.3.22		Description, nature and		parpose offund
				f,
Advance Care Planning		Projects		4,100	Grant funding remaining		for projects	supporting
					advance	cern planning
Restricted	grant funds		78,666		Grant funding for the Paul Sartori choir and
				recording ofFather Paul			Sartori's journey unspent at
				the year		end
Restricted	donations			4,074	Donations provided to purchase specialist				nursing
					equipment
			86,840

			31.3.22	31.3.21
Net income for the	reporting	period (as per the Statement of Financial
Activities)			260,630	237,290
Adjustments for:
Depreciation charges			36,168	39,723
Losses on investments			(1,617)
Loss on disposal of	fixed assets		3,686	1,921
Interest received			(6,399)	(9,324)
Increase/(Decrease)	in provisions		(4,465)	(1,097)
Decrease/(increase)	in stocks		3,069	(3,069)
Increase in debtors			(42494)	(73,849)
(Decrease)/increase	in creditors		(12,148)	35,412
Net cash provided	by operatio	ns	236,630	227,007

ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.21	Cash flow	At 31.3.22
Net cash
Cash at bank and in hand	1,345,608	90,210	1,435,818
	1545,608	90+10	1,435,818
Total	1,345,608	90,210	1,435,818

	Detailed Statement ofFinancial Activities
	for the Year Ended 31March 2022
		31.3.22	31.3.21
INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifis		291,870	315,304
Covenanted income		5,788	8,248
Gift aid		65,054	39,936
Legacies		146,024	(3,090)
Grants		129,187	42,751
		637,923	403,149
Other tradiag activities
Fundraising income and merchandise	sales	33,870	15,944
Shop income		990,871	321,807
Lottery income		4,170	4,613
Sponsorship		167	625
E-commerce income		114,803	135,956
Room hire and rent income		25,000	24,900
WG Kickstart Scheme		78,938
		1247,819	503,845
Investment income
Deposit account interest		6,399	9,324
Charitable activities
Service level agreements		358,515	242,218
Grants		232,614	450,651
		591,129	692,869
Other iacome
Clinical training		150	90
Covid rates grants			383,000
JRS grant		2,383	101,701
Care Workers bonus		39/67	20,651
Covid SSP		1,826	329
Insurance claim			80,172
WG Kickstart Scheme		5,067
		48,693	585,943
Total incoming resources		2,531,963	2,195,130

			Paul Sartori Foundation Limited
			Detailed Statement ofFinancial Activities
			for the Year Ended 31March 2022
				31.3.22	31.3.21
					f,
Raising donations	and	legacies
Wages				18,900	16,514
Social security				1,422	1,032
Pensions				387	301
Travelling				787	190
Depreciation oftangible		fixed assets		2,347	2,352
				23,843	20,389
Other trading activities
Merchandise purchases				10,048	8,385
Wages				602,399	418,482
Social security				35,927	24,360
Pensions				9,950	6,768
Other shop expenses				86,588	72,960
Fundraising expenses				13,505	8,426
Shop and container	rents			276,972	221,478
Volunteers expenses				2,687	1,399
Van expenses				41451	34,786
Travelling				4/04	3,706
E-Commerce costs				25,664	34,846
Depreciation oftangible		fixed assets		6,768	6,623
				1,115,963	842,219
Charitable activities
Wages				763,261	753,465
Social security				52,073	47,813
Pensions				20,537	17,365
Travelling expenses				47,349	40,421
Education and training				4,855	4,871
Nursing consumables				2471	1,391
Complementary therapy		consumables		172	1,030
Van expenses				5,728	4,317
Recruitment costs				65	63
Health and safety Er	HR	costs		9,697	14,606
Payroll fees				4,572	5,462
Nursing equipment repairs				27,013	15,151
Staffuniform				1,543	1,008
Volunteer expenses				730	1,200
Misc counselling costs					702
Depreciation oftangible		fixed assets		27,053	30,748
Loss on sale oftangible fixed assets				3,686	1,921
				970,605	941,534

			Paul Sartori Foundation Lbnited
			Detailed Statement ofFinancial Activities
			for the Year Ended 31March 2022
				31.3.22	31.3.21
Support costs
Management
Wages				53,309	55,545
Social security				5,478	5,057
Pensions				1,491	1,386
Other operating	leases			1,270	1,273
Rates and water				624	439
Insurance				21,034	13,869
Light and heat				10,135	9,367
Telephone and internet				8,414	9,525
Printing, stationery,		postage and advertising		9,486	6,371
Subscriptions				760	908
Repairs and renewals				6,535	3,515
Computer costs				23@93	22,699
Garden upkeep				477	481
Cleaning and waste		collection		7,057	6,788
Travelling					20
Sundry expenses				849	659
Bank and credit	card		charges	2,222	1,351
Remeasurement	ofpension provision			(2,997)	203
Unwinding ofpension			discount factor	34	158
				149,471	139,614
Governance costs
Wages				5,923	6,172
Social security				609	562
Auditors' remuneration				6,498	6,137
Auditors' remuneration			for non audit work		1,200
Professional fees				38	13
				13,068	14,084
Total resources expended				2,272,950	1,957,840
Net income before gains and losses				259,013	237490
Realised recognised		gains and losses
Realised gains/(losses)			on fixed asset investments	1,617
Net income				260,630	237,290