2021-03-31-accounts

Registered number: 01746654 Charity number: 514418

THE BROOMGROVE TRUST

(A company limited by guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

THE BROOMGROVE TRUST

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the charity, its Trustees and advisers	1
Chairman's statement	2
Trustees' report (including Directors' report)	3 - 9
Independent auditor's report on the financial statements	10 - 13
Statement of financial activities	14
Balance sheet	15 - 16
Statement of cash flows	17
Notes to the financial statements	18 - 36

THE BROOMGROVE TRUST

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees	Mr M N Pestereff FCA FCILT,Chairman
	Dr A Anderson MA BM BCH FRCP,Vice Chairman
	Mrs J Cooper RGN,Trustee
	Mr David Wilson,Trustee
	D J Hanson,Trustee(resigned 25 November 2020)
	C L Jackson,Trustee(resigned 25 November 2020)
Company registered number 01746654 Charity registered number 514418 Registered office 30 Broomgrove Road Sheffield S10 2LR Telephone - 0114 2661311 Email - [e-mail] www.broomgrove-trust.co.uk Secretary Miss A T Needham MAAT Manager Ms D Pierpoint (until 13 August 2021) Ms J Warburton (from 13 August 2021) Independent auditor BHP LLP 2 Rutland Park Sheffield S10 2PD Bankers HSBC Bank 17 Church Street Sheffield S1 2GJ Solicitors In common with many organisations, The Broomgrove Trust uses a number of solicitors depending on their expertise (amongst other factors). The Trust's solicitors for normal business are Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG Patron Mr A J Coombe DL FCA Her Majesty's Lord-Lieutenant for South Yorkshire Senior Management Team Ms Donna Pierpoint, Registered Manager (until 13 August 2021) Mrs Janet Biggin, Clinical Nurse Manager Ms Judith Warburton, Clinical Nurse Manager

Page 1

THE BROOMGROVE TRUST

(A company limited by guarantee)

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

The chairman presents his statement for the year.

Navigating our way through an unprecedented year we started our 2020 financial year with a strong first half performance. Unfortunately, the last quarter January to March 21 threw up some challenges with staff isolating from track and trace and a further lockdown from the government.

The overall position at the end of the financial year showed a deficit of (£108,161) which is further reduced to (£85,289) by the recognition of unrealised and realised investment gain. This is a much better outcome than we predicted. This was made possible by the excellent leadership and judgement of the Home Manager, Donna Pierpoint. The staff have also been able to adapt at speed during this difficult time. The main priority was to protect the residents and staff following all the government guidelines on social distancing, visiting, testing and vaccinations. Can I and the Trustees thank all the staff and residents’ families for their continued support and cooperation with the protocol put in place at Broomgrove.

We also took steps to protect the business financially and as a precaution the Trustees applied in March 2020 for the government bounce back loan scheme of £50,000. This is repayable over a 5-year period or earlier at the Trustees discretion. Broomgrove also made appropriate use of government support including the job retention scheme and the coronavirus statutory sick pay rebate scheme. The local authority Sheffield City Council made a number of grant payments totalling £80,000 to help with the challenges of extra costs and loss of revenue.

In November 2020 Jackie Hanson and Clive Jackson resigned as Trustees for personal reasons. We wished them well and thanked them for all their support.

In July 2021 a CQC questionnaire was completed and CQC responded by saying they have found no reason to carry out an inspection or re asses our rating. Broomgroves’ last rating was GOOD.

Looking forward to 2021/22, occupancy levels at the date of writing were reduced as were staffing levels to give a stable financial position. We look forward to greater financial stability than we have had in the last two years as the pandemic becomes more controlled. We have no evidence that going into the autumn and winter things will stay the same, although we hope so.

Michael N Pestereff Chairman Date:

Page 2

(A company limited by guarantee)

THE BROOMGROVE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by charities” (FRS 102) in preparing the annual report and financial statement of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.

Objectives and activities

a. Objectives and aims

We review and update future plans and objectives of the charity on a regular basis.

1. Improving and maintaining standards

The quality of care will continue to improve through the recruitment, development and retention of effective and caring staff, receiving appropriate training, within a managed-risk environment. The residents’ social well-being will be improved through extended activities and opportunities. The Physical environment will continue to be improved through investment in renovation and redecoration throughout the home. The Trustees wish to maintain the best of the caring practices and traditions inherited from the past and continue to develop these to meet the challenges of the future. Particular care is being taken to protect residents and staff from infection by the COVID-19 virus.

2. Achieving a sound financial basis

The charity will continue to develop its services to create opportunities to generate new income to assist in the achievement of a balanced budget, thereby helping to share the costs facing its residents across a wider base. Steps to improve financial accounting and management have been undertaken to assist in better cost control and value for money, in particular the Trustees have decided to use professional asset managers to manage part of the free reserves. The Trust owns the freehold of the property in which the Nursing Home is located.

3. Marketing and business development

A marketing strategy is being followed to achieve a high level of bed occupancy, enabling prices to remain competitive and affordable for our clients, whilst protecting the charity’s financial viability through the achievement of acceptable annual surpluses, to fund re-investment (maintaining a ‘not-for-profit’ ethos).

Page 3

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Achievements and performance

a. Review of results and financial position

The Trustees are to report a deficit of (£108,161) (2020: surplus of £22,028) for the year ended 31 March 2021. Overall Income has reduced this financial year by around £50,000 which is mainly down to the effects of the global pandemic COVID-19. A number of grant payments totalling £80,000 have been received from the local authority (Sheffield City Council) to help with the challenges of extra costs and loss in revenue from residents’ fees.

The most significant operating expense is payroll, with staff costs accounting for 72% of our operating expenditure. The government introduced the national living wage in April 2016 and this is being phased in between April 2016 and April 2020. The rate for 2020-2021 is currently £8.91 per hour.

The control of staffing levels and costs is regarded as a priority by the Trustees and management team and this year staffing costs have been a challenge covering sickness and self-isolation from coronavirus. Broomgrove has made use of the Job Retention Scheme and the Coronavirus statutory sick pay rebate scheme.

Non staffing costs have increased by £73,000 on the prior year as a direct result of COVID-19. Most of this increase has been spent on PPE £32,000, other costs like travel/taxis £12,000 and cleaning £3,000. No major capital expenditure incurred in this financial year. The level of free reserves has decreased for this financial year but the cash in bank balance has increased by £26,000. For accounting purposes, the deficit of (£108,161) above is reduced to (£85,289) by the recognition of unrealised and realised investment gain. As a precaution the trustees agreed to utalise the government “Bounce Back Loan Scheme” and have borrowed £50,000 repayable over a 5 year period or earlier at the Trust’s discretion.

b. Review of activities

The principal activity of the charity during the year continued to be the promotion, management and maintenance of a Nursing Home.

c. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

d. Investment policy

Investec Wealth and Investment Ltd continue to manage the portfolio on behalf of the Trustees. The account is to be managed on a discretionary basis with an investment strategy of medium risk and an income objective of 3% per annum. A benchmark has been set made up of 27.5% fixed interest investments, 57.5% equities and commercial property and 15% cash and alternative investments. The Trustees receive a valuation of the portfolio on a quarterly basis and at least annually a manager from Investec presents a verbal report to a meeting of the Trustees.

Page 4

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

a. Objectives and aims

The objects of The Broomgrove Trust are to provide convalescent, nursing and respite care for the sick and aged in the Sheffield area. It does this through the provision of fully-serviced nursing accommodation for its residential and respite patients. The demand for small self-contained flats is reduced and at the 31st March 2021 only 1 remained and will not be re-let when it becomes vacant. The Trust is fully registered with all required regulatory bodies.

b. Governing document and Trustee appointment

The Charity, The Broomgrove Trust, is a company limited by guarantee and governed by its Memorandum and Articles of Association. On the 25th November 2020 Jackie Hanson and Clive Jackson resigned as Trustees and members of the company.

The Trustees, listed on page 1 are all members of the company and liability is limited to £1 per member in the event of the charity being wound up.

New Trustees are recommended by existing Trustees, with reference and regard to the skills requirements of the board which are periodically reviewed by the board. Upon appointment, Trustees receive access to the governing documentation and are briefed by the Chairman on the current status of the company. All Trustees are encouraged to attend external training to keep up to date best practice and legislative requirements.

c. Organisational structure

The nursing home is managed principally by the Nursing Home Manager, together with a staff of 88 full and part time employees, under the direction of the Trustees. Financial accounting and payroll services are provided by St Luke’s Hospice on an arm’s length commercial basis. There is no element of cross subsidy arising from this relationship.

d. Pay policy for senior staff

Broomgrove’s Board of Trustees (all volunteers) delegate the safe and effective running of the charity to the management team.

Broomgrove’s Management team comprises the following three members:

Remuneration for the Management team is determined by the Board of Trustees. Levels of remuneration are set to ensure that Broomgrove attracts good people into these critical roles, with reference to market conditions and the specific skills required. The Management team’s performance is monitored by the Board. On the 13th August 2021 Donna Pierpoint will be leaving to take up a managerial post elsewhere. At the date of this report a recruitment process is

Page 5

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management (continued)

ongoing and Judith Warburton will be acting up as Manager.

e. Risk management

By closely monitoring and assessing the current and emerging risks that have the potential to impact our activities, we can make the best decisions for our residents and our long-term sustainability.

Overall approach

The board of Trustees considers strategic and financial risks on a regular basis and a committee of the board has been established specifically to cover clinical risks (Clinical Governance Committee).

Broomgrove engages an external organisation to support its risk assessment; risk management and health & safety processes and policies and procedures are designed to enable the achievement of the charity’s objectives while controlling the risks associated within the environment in which it operates.

The reporting of risks and the monitoring of actions and controls are conducted by management as part of the governance arrangements, who routinely report the findings to the Trustees. The Trustees utilise the information to prioritise strategic and operational risks and ensure risk action plans are devised and implemented.

The principal risks and uncertainties affecting the charity and their potential impact, together with the means by which they are managed are as follows:

COVID-19

The Directors have considered the impact of COVID-19 on the charity’s activities, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the disruption, the Trustees are confident that they have in place plans to deal with any financial losses and cash deficits that may arise. From the 11th November 2021 the government have instructed that all staff working in the home have to be fully vaccinated.

The Board have prepared forecasts of income and expenditure and cash flow for the period to 31st March 2023. They have subjected these forecasts to sensitivity analysis which shows that they have sufficient reserves to be able to continue for the foreseeable future. They will continue to monitor the impact on income and take appropriate action as necessary.

Financial Risks

• Reduction in occupancy

Potential impact: the majority of income is derived from residents, with the associated risk that occupancy falls below budget, causing a drop in revenue and resultant pressure on cash flow.

Mitigation: the charity continues to focus on continually improving the quality of services and facility to ensure a higher occupancy rate as possible. Along with prudent budgeting and ensuring sufficient reserves are retained to meet unexpected deficits. If occupancy reduces or rises, staffing levels are adjusted to match demand.

• Agency Costs

Potential impact: appropriate staffing levels are required to ensure that the correct level of care is provided. With a

Page 6

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management (continued)

shortage in qualified nursing staff across the sector, the charity may be required to use agency staff which cost considerably more than their own staff.

Mitigation: Monthly tracking of budget against actual performance including agency usage is undertaken and reported to Trustees.

• National Minimum Wage and Pension increase

Potential impact: a number of employees have salaries based on the statutory National Minimum Wage/National Living Wage or close to this. As such, legislative increases in the National Minimum Wage and Living Wage, which are in excess of income inflation, could reduce profitability.

Mitigation: the Trust budgets carefully for National Minimum Wage/Living Wage/Pension cost increases and the impact on its cash flow and profitability.

• Reputational risk

Potential impact: a serious incident or harm to one or more residents could result in negative publicity. Such incidents may result in an increase in scrutiny from regulators as well as from residents and their families.

Mitigation: in order to mitigate this risk as far as possible, we have carried out substantial employee training, employee inductions and employee reference procedures, including a criminal background check for all staff. The risk, in particular, is monitored by the clinical governance sub-committee.

Regulatory risk

Potential impact: the regulatory requirements cover the entire range of the nursing home’s function. Failing to comply with regulations including the CQC registration and standard of care, can result in the levy of fines and/or the revocation or suspension of registration or temporary suspension of placements. A temporary suspension would have a significant effect on income as it directly and negatively affects occupancy.

Mitigation: the charity self-assesses against key lines of enquiry which form the basis of a CQC inspection. In July 2021 a CQC questionnaire was completed and CQC responded by saying they have found no reason to carry out an inspection or re asses our rating. Broomgrove’s last rating was “GOOD”.

The aforementioned external agency engaged to identify and mitigate health and safety requirements undertake independent assessments of health and safety standards at Broomgrove, including ensuring that risk assessments are current and significant findings are reported to management.

All accidents, incidents and near misses are investigated and where necessary full root cause analysis is undertaken. Incidents, where required are reported under RIDDOR.

We are visited regularly by South Yorkshire Fire and Rescue as part of the services of familiarisation and we maintain independent contractors to check and service the lighting, fire alarm and extinguishers.

We have been inspected this year by the local authority (The Regulator) for food hygiene and currently hold a 5 star rating.

Page 7

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management (continued)

f. Reserves policy

In drawing up the reserves policy, Trustees are mindful of the need to balance financial prudence with the important of getting money to the front line quickly. Holding reserves allows us to navigate unexpected drops in income or sudden short-term increased in expenditure, protecting us against risks (some of which are mentioned above) and include COVID19 risks.

The level of reserves required is determined using a comprehensive budget and cash flow forecast. Regular updates and monitoring of these are carried out to ensure that a surplus is achieved and cash flow is adequate for the needs of the Trust.

The Trustees consider a cash and investments balance in the region of £270,000 to £370,000 to be a reasonable amount to provide for unforeseen financial fluctuations. The Trustees target is that free reserves (being net current assets plus investments) are in the same financial range of £270,000 to £370,000 as the Trustees are mindful that the calculation of free reserves will exclude any cash balances that are already committed or designated. As at 31 March 2021 free reserves were £283,068. The focus in the coming year and beyond will be to maintain the current level of cash and free reserves to the figure stated in the policy.

Information on fundraising practices

Broomgrove is not currently registered with the fundraising regulator. During the year we have not appointed any professional fund-raiser to support the work of the charity or undertaken any specific fundraising activities. We have received no complaints in relation to fundraising activities.

Public benefit

In planning and delivering our services and activities, the Trustees and management of The Broomgrove Trust have given due regard to the need to ensure that the nursing home provides public benefit – following the Charity Commission’s guidance on these matters. The practices developed at Broomgrove are used as templates by other nursing homes in the city and beyond. Beds are specifically retained so that recuperation from surgery and short term respite stays can be offered. This facility is not widely available elsewhere.

A resident’s support fund has been established to provide funds to assist residents who may encounter financial difficulties.

The Broomgrove Trust offers its services to all members of the public, and operates on a not-for-profit basis – providing superior medical access, attended nursing, and activities support – as well as offering subsidised accommodation to residents. The Trust keeps sight of its charitable objectives and will continue to actively support clients where this is appropriate for their well-being and welfare.

Page 8

THE BROOMGROVE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Statement of Trustees' responsibilities

The Trustees (who are also directors of The Broomgrove Trust for the purpose of company law) are responsible for the 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. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP 2019 (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

• charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information.

Auditor

The auditor, BHP LLP, have indicated their willingness to continue in office. The Designated Trustees will propose a motion re-appointing the auditor at a meeting of the Trustees.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Dr A Anderson MABM BCH FRCP, Trustee

Date:

Page 9

(A company limited by guarantee)

THE BROOMGROVE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST

Opinion

We have audited the financial statements of The Broomgrove Trust (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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:

• 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, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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.

Page 10

(A company limited by guarantee)

THE BROOMGROVE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST (CONTINUED)

Other information

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

• the information given in the trustees' report (incorporating the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

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

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies' regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Page 11

(A company limited by guarantee)

THE BROOMGROVE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST (CONTINUED)

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, 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 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 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.

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:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our knowledge and experiences of the charity’s sector;

• we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including safeguarding and CQC legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence throughout;

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

Page 12

THE BROOMGROVE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST (CONTINUED)

To address the risks of fraud through management bias and override controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims; and

• discussions with senior management regarding relevant regulations and reviewing the charitable company’s legal and professional fees.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the director’s and other management and the inspection of regulatory and legal correspondence.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standardsandguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Marshall (senior statutory auditor)

for and on behalf of

BHP LLP

Statutory Auditor 2 Rutland Park Sheffield S10 2PD

Date:

Page 13

THE BROOMGROVE TRUST

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note Income from: Donations and legacies 4 Charitable activities 5 Investments 6 Other income 7 Total income Expenditure on: Charitable activities 8 Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2021 £ 43,477 1,833,203 3,775 6,437 1,886,892 1,995,053 1,995,053 (108,161) 22,872 (85,289) 1,589,755 (85,289) 1,504,466	Restricted funds 2021 £ 80,119 - - - 80,119 80,119 80,119 - - - - - -	Total funds 2021 £ 123,596 1,833,203 3,775 6,437 1,967,011 2,075,172 2,075,172 (108,161) 22,872 (85,289) 1,589,755 (85,289) 1,504,466	Total funds 2020 £ 42,993 1,969,677 4,471 - 2,017,141 1,995,113 1,995,113 22,028 (15,729) 6,299 1,583,456 6,299 1,589,755

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 18 to 36 form part of these financial statements.

Page 14

THE BROOMGROVE TRUST

(A company limited by guarantee)

REGISTERED NUMBER: 01746654

BALANCE SHEET

AS AT 31 MARCH 2021

Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Total net assets Charity funds Unrestricted funds (including Revaluation Reserve of £7,827, 2020: £nil) 19 Total funds	123,492 213,301 336,793 (125,881)	2021 £ 1,194,080 149,474 1,343,554 210,912 1,554,466 (50,000) 1,504,466 1,504,466 1,504,466	174,905 187,651 362,556 (132,224)	2020 £ 1,231,091 128,332
				1,359,423 230,332
				1,589,755 -
				1,589,755
				1,589,755
				1,589,755

Page 15

THE BROOMGROVE TRUST

(A company limited by guarantee)

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Dr A Anderson MA BM BCH FRCP, Trustee

Date:

The notes on pages 18 to 36 form part of these financial statements.

Page 16

THE BROOMGROVE TRUST

(A company limited by guarantee)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2021

Note Cash flows from operating activities Net cash provided by operating activities 22 Cash flows from investing activities Dividends and interest from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Net cash used in investing activities Cash inflows from new borrowing Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 23	2021 £ (9,148) - - (16,932) 40,172 (39,459) (16,219) 50,000 24,633 192,548 217,181	2020 £ 65,389 4,471 9,000 (33,442) 8,095 (7,270) (19,146) - 46,243 146,305 192,548

Page 17

(A company limited by guarantee)

THE BROOMGROVE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1. General information

The charity is a company limited by guarantee and governed by its Memorandum and Articles of Association. The registered office is 30 Broomgrove Road, Sheffield, S10 2LR.

2. Accounting policies

2.1 Basis of preparation of financial statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2 Going concern

The Trustees have considered the impact of COVID-19 on the charity’s activities, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the disruption, the Trustees are confident that they have in place plans to deal with any financial losses and cash deficits that may arise.

The Board have prepared forecasts of income and expenditure and cash flow for the period to 31 March 2023 and subjected these forecasts to sensitivity analysis which shows that they have sufficient reserves to be able to continue for the foreseeable future. They will continue to monitor the impact on income and take appropriate action as necessary.

The Trustees therefore continue to adopt the going concern basis of preparation for these financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.

Page 18

(A company limited by guarantee)

THE BROOMGROVE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are included at original cost less accumulated depreciation, with the exception of freehold buildings and paintings. Freehold buildings are not depreciated because they are maintained in good condition so that their value is not significantly impaired by the passage of time, and in consequence any element of depreciation would be immaterial. The paintings are not depreciated because their value is not significantly impaired by the passage of time, and in consequence any element of depreciation would be immaterial.

The non-depreciation of freehold buildings and paintings is a departure from the general requirement of the Companies Act 2006 and Charities SORP (FRS102) for all tangible assets to be depreciated. The trustees are of the opinion that such treatment is necessary to give a true and fair view.

A de minimus limit is set whereby only expenditure over £500 is capitalised, unless it is part of a larger project.

In accordance with FRS102, the trustees have performed an annual impairment review and consider that the carrying value of the freehold property and the paintings is not higher than the recoverable amount.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account.

Page 19

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

• Major refurbishments 10 years straight line - Equipment/ refurbishments and 25% reducing balance alterations - Computer equipment 3 years straight line Lift - 20 years straight line

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 20

(A company limited by guarantee)

THE BROOMGROVE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The charity operates a stakeholder pension scheme, a personal pension plan and an Auto-Enrolment pension scheme. Contributions are expensed as they become payable.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.14 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2.15 Tax

The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 21

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

The paintings included within fixed assets are based on the trustees' opinion of their value taking into account their knowledge of the market for similar assets.

4. Income from donations and legacies

Legacies and donations Grants received Other income Total 2021 Total 2020	Unrestricted funds 2021 £ 43,289 188 - 43,477 39,993	Restricted funds 2021 £ - 80,119 - 80,119 3,000	Total funds 2021 £ 43,289 80,307 - 123,596 42,993	Total funds 2020 £ 30,692 3,250 9,051
				42,993

5. Income from charitable activities

Patients' fees Receipts from residents Total 2021 Total 2020	Unrestricted funds 2021 £ 1,819,191 14,012 1,833,203 1,969,677	Total funds 2021 £ 1,819,191 14,012 1,833,203 1,969,677	Total funds 2020 £ 1,954,800 14,877
			1,969,677

Page 22

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5. Income from charitable activities (continued)

In the prior year, all income from charitable activites was unrestricted.

6. Investment income

Investment income Total 2020	Unrestricted funds 2021 £ 3,775 4,471	Total funds 2021 £ 3,775 4,471	Total funds 2020 £ 4,471

In the prior year, all investment income was unrestricted.

7. Other incoming resources

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	£	£	£
Furlough income (CJRS)	6,437	6,437	-

8. Analysis of expenditure by activities

Charitable activities Total 2020	Direct costs 2021 £ 2,015,502 1,934,364	Support costs 2021 £ 59,670 60,749	Total funds 2021 £ 2,075,172 1,995,113	Total funds 2020 £ 1,995,113

Page 23

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Depreciation Water, council tax and insurance Light, heat and power Repairs, renewals and upkeep Food Miscellaneous expenses Medical services and supplies Legal and professional fees Agency fees Governance costs	Total funds 2021 £ 1,494,561 53,943 25,144 33,183 73,489 85,663 54,463 80,974 513 107,871 5,698 2,015,502	Total funds 2020 £ 1,487,436 62,785 23,833 26,491 91,307 92,043 39,646 54,293 13 50,987 5,530
		1,934,364

In 2021 and 2020 the total expenditure on direct costs was from unrestricted funds.

Page 24

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Telephone, postage and advertising Miscellaneous expenses Legal and professional fees Governance costs	Total funds 2021 £ 16,787 8,394 2,177 32,312 59,670	Total funds 2020 £ 17,231 9,752 2,115 31,651
		60,749

In 2021 and 2020 total expenditure on support costs was from unrestricted funds.

9. Governance costs

	2021	2020
	£	£
Direct costs
Wages and salaries	5,698	5,530
	5,698	5,530
Support costs
Telephone, postage and advertising	1,865	1,915
Legal andprofessional fees	25,047	24,436
Audit fees	5,400	5,300
	32,312	31,651
Total governance	38,010	37,181

In 2021 and 2020 all expenditure on governance costs was from unrestricted funds.

Page 25

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

10. Net income/(expenditure)

This is stated after charging: Depreciation of tangible fixed assets owned by the charity	2021 £ 53,943 53,943	2020 £ 62,784
		62,784

11. Auditor's remuneration

	2021	2020
	£	£
Fees payable to the charity's auditor for the audit of the charity's annual accounts	5,400	5,300

12. Staff costs

Wages and salaries Social security costs Other pension costs	2021 £ 1,377,822 94,841 27,596 1,500,259	2020 £ 1,377,262 89,542 26,162
		1,492,966

The average number of persons employed by the charity during the year was as follows:

Admininstration Nursing Housekeeping Catering Wellbeing Maintenance Laundry	2021 No. 4 56 10 10 4 1 3 88	2020 No. 4 58 10 10 4 1 2
		89

Page 26

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

12. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

The total amount of employee benefits including employer's NI and pension received by key management personnel is £109,198 (2020 - £108,870). The Charity's key management personnel are detailed in the Trustees' Report.

During the year, no trustees received any remuneration (2020 - £nil). During the year, no trustees received any benefits in kind (2020 - £nil).

During the year, trustees received reimbursement of expenses totalling £nil (2020 - £nil).

13. Tangible fixed assets

Cost or valuation At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Freehold property £ 954,051 - 954,051 - - - 954,051 954,051	Entrance refurbishment £ 102,005 - 102,005 81,600 10,204 91,804 10,201 20,405	Paintings £ 67,471 - 67,471 - - - 67,471 67,471	Office equipment £ 900,990 16,932 917,922 711,826 43,739 755,565 162,357 189,164	Catering refurbishment s £ 81,225 - 81,225 81,225 - 81,225 - -	Total £ 2,105,742 16,932
						2,122,674
						874,651 53,943
						928,594
						1,194,080
						1,231,091

Page 27

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

14. Fixed asset investments

Listed securities £ Cost or valuation At 1 April 2020 123,435 Additions 39,459 Disposals (40,172) Revaluations 22,872 At 31 March 2021 145,594 Net book value At 31 March 2021 145,594 At 31 March 2020 123,435 The historical cost of the listed securities are £137,767 (2020: £141,541).	Cash £ 4,897 36,979 (37,996) - 3,880 3,880 4,897	Total £ 128,332 76,438 (78,168) 22,872
		149,474
		149,474
		128,332

15. Debtors

Due within one year Other debtors Prepayments and accrued income	2021 £ 78,762 44,730 123,492	2020 £ 140,210 34,695 174,905

Page 28

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

16. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Accruals and deferred income	2021 £ 40,659 26,424 58,798 125,881	2020 £ 49,889 24,807 57,528
		132,224

17. Creditors: Amounts falling due after more than one year

	2021	2020
	£	£
Bank loans	50,000	-

18. Accruals and deferred income

Deferred income at 1 April 2020 Fees in advance Amounts released from previous periods Deferred income at 31 March 2021	2021 £ 2,416 3,619 (2,416) 3,619	2020 £ 3,643 2,416 (3,643)
		2,416

Deferred income represents monies received in advance of services rendered.

Page 29

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds Statement of funds - current year Unrestricted funds Designated funds Residents support fund General funds General Funds Total Unrestricted funds Restricted funds Covid-19 SCC Infection Control Total of funds	Balance at 1 April 2020 £ 38,602 1,551,153 1,589,755 - 1,589,755	Income £ (11,284) 1,898,176 1,886,892 80,119 1,967,011	Expenditure £ - (1,995,053) (1,995,053) (80,119) (2,075,172)	Gains/ (Losses) £ - 22,872 22,872 - 22,872	Balance at 31 March 2021 £ 27,318
					1,477,148
					1,504,466
					-
					1,504,466

Page 30

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Residents support fund General funds General Funds Total Unrestricted funds Restricted funds Arjo Hoist Total of funds	Balance at 1 April 2019 £ 35,000 1,548,456 1,583,456 - 1,583,456	Income £ (21,398) 2,035,539 2,014,141 3,000 2,017,141	Expenditure £ - (1,995,113) (1,995,113) - (1,995,113)	Transfers in/out £ 25,000 (22,000) 3,000 (3,000) -	Gains/ (Losses) £ - (15,729) (15,729) - (15,729)	Balance at 31 March 2020 £ 38,602
						1,551,153
						1,589,755
						-
						1,589,755

Page 31

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds (continued)

Designated Funds

Residents support fund: this fund has been established to cover residents fees when there has been a change in a resident's financial circumstances. The funds are to be utilised at the trustees' discretion.

Restricted Funds

Covid-19 SCC Infection Control: additional government funding to support providers through a new ‘infection control fund’. The fund will support adult care home providers to reduce the rate of transmission in and between care homes and support wider workforce resilience.

Arjo Hoist: this fund represents monies given to the Trust for the purpose of purchasing a new Arjo Hoist.

Transfers

Transfers between funds represent monies spent in accordance with the grant restriction for capital items, once capital items have been acquired amounts are transferred to unrestricted funds. Transfers to designated funds are at the trustees' discretion.

Page 32

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

20. Summary of funds

Summary of funds - current year

Designated funds General funds Restricted funds	- prior year Balance at 1 April 2019 £ 35,000 1,548,456 - 1,583,456	Balance at 1 April 2020 £ 38,602 1,551,153 - 1,589,755 Income £ (21,398) 2,035,539 3,000 2,017,141	Income £ (11,284) 1,898,176 80,119 1,967,011 Expenditure £ - (1,995,113) - (1,995,113)	Expenditure £ - (1,995,053) (80,119) (2,075,172) Transfers in/out £ 25,000 (22,000) (3,000) -	Gains/ (Losses) £ - 22,872 - 22,872 Gains/ (Losses) £ - (15,729) - (15,729)	Balance at 31 March 2021 £ 27,318 1,477,148 -
						1,504,466
						Balance at 31 March 2020 £ 38,602 1,551,153 -
Summary of funds
Designated funds General funds Restricted funds
						1,589,755

Page 33

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total	Unrestricted funds 2021 £ 1,194,080 149,474 336,793 (125,881) (50,000) 1,504,466	Total funds 2021 £ 1,194,080 149,474 336,793 (125,881) (50,000) 1,504,466

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2020 £ 1,231,091 128,332 362,556 (132,224) 1,589,755	Total funds 2020 £ 1,231,091 128,332 362,556 (132,224) 1,589,755

Page 34

THE BROOMGROVE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Gains/(losses) on investments Dividends and interest from investments Profit on the sale of fixed assets Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operating activities	2021 £ (85,289) 53,943 (22,872) - - 51,413 (6,343) (9,148)	2020 £ 6,299 62,784 15,729 (4,471) (6,976) (4,775) (3,201) 65,389

23. Analysis of cash and cash equivalents

Cash in hand Cash held in investments Total cash and cash equivalents Analysis of changes in net debt Cash at bank and in hand Debt due after 1 year	At 1 April 2020 £ 187,651 - 187,651	2021 £ 213,301 3,880 217,181 Cash flows £ 25,650 (50,000) (24,350)	2020 £ 187,651 4,897 192,548 At 31 March 2021 £ 213,301 (50,000) 163,301

24. Analysis of changes in net debt

Page 35

(A company limited by guarantee)

THE BROOMGROVE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

25. Pension commitments

The company operates a stakeholder pension scheme, a personal pension plan and an Auto-Enrolment pension scheme. Pension costs are accounted for in accordance with FRS102. Pension costs charged in the financial statements are £27,596 (2020 - £26,162) representing the contributions payable by the charity during the year ended 31 March 2021. There were contributions totalling £4,361 (2020 - £4,297) outstanding at the year end.

26. Related party transactions

No related party transactions have taken place during the year (2020: none).

Page 36