Registered number.. 01746654 Charity number: 514418 THE BROOMGROVE TRusr IA company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE 8ROOMGROVE TRUST IA company Ilmited by guarantee) CONTENTS Page RelenCe and admlnlstratl¥e detalls ot the charlty. Its Trustee5 and advisers Chalrman's statement Tru5tees' report 3-10 lrtdepemdent audltor's report on the flnanclal statemerts 11-14 Statement ol financial artivitie5 15 Balance sheet 16-17 Staternent of (ash Ilow$ 18 Note5 to the finoncial statemen1$ 19-37
THE BROOMGROVE TRUST IA Company limited by 8uaranteÈl REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH2022 Trustee$ Mr M N Pestererf FCA FCILT. Chairman DrA Anderson MA BM BCH FRCP, Vice Chairman Mrs J Cooper RGN, Trustee Mr DaviLI Wi150n, Trustee Ire5iEned 30 May 20221 Prof. C Franklin OBE FRCPath. Trustee (appointed 31 May 20221 Company reglstered number 01746654 Charity reElStered number 514418 Reglstered ofllce 30 Broomgrove Road Sheffield SIO 2LR TelÈphone- 0114 2661311 Email enquiriÈs@brDomgrove-trust.co.uk www.broomgrove-trust.co.uk Secretary Miss A T Needham MAAT Manager Ms J Warburton (appointed l October 20211 Independent auditor BNPLLP Statutory auditor 2 Rutland Park Sheffield SIO 2PD Bankers HSBC Bank 17 Church Street Sheffield SI 2GJ Solicitors In common wilh many organlsations, The Broorngrove Trust U5e5 0 number of solicitors depending on thèir Èxpertise (amongst other factors). The Trust'5 501icitor5 for normal bu5ine5s are Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG Patron Mr AJ Coombe CVO dl fca Senlor Management Team Ms D Pierpoint, Registered Manager (until 13 August 20211 Mrs l Blggin. Clinical Nurse Manaeer Ms J W3r&urton, Registered Manager lappointed l October 20211 Page I
THE BROOMGROVE TRUST IA company limlted by guararteel CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH2022 The chairman presents his ststernent for the year. A5 1 noted in my statement last year we were still dealing with the global pandemic COVID -19 and It was to become another long year with some uncertain tlmes. Nobody expected it to last for nearly 2 years. SorDe tough decisions had to be made and everyone pulled together and embraced new ways of working. The residents were always a top priority for rooyngrove and all mea5ure5 were tzken by staff and relatives to keep them safe. On behalf of myself and the board of trustees I would like to give our sincere thanks and appreciation to all the Staff, and in particular all of our front line workers. The overall position at the Ènd of the finantial yÈar showed èn operating surplus of £24,476 which is further incfea5ed to £29,182 by the recognition of unrealised 3nd realised investment gain. This is a much better outcome thèn we predicted. The Management team and stzff have worked tirelessly have contributed to the positive outcome of the flnanclal position of the home. The local authority Sheffield City Council continued with a nurnber of grant payments to help with extra costs and Broomgrove continued to accept the government help up until it ended. The main area5 of expenditu have been carefully mèn8ged and PPE costs have Significantly reduced because the cost of rn05t item5 bec3rne free and the supply Issues had been resolved. Broomgrove hèd a ¢hange of ManaÉer back In August 2021 with Donna Pierpoint le3¥1n8 to tske up a new role. Broomgrove appointed Judy Warburton to att as her replacement ènd in October 2021 confirmed her appointment. Overall it has bÈen 3 successful year and looklng forwèrd to 2022123 at the time of writing thi5 report bed occupancy has risen and remains stable at about 90%. In Autumn and Winter Broomgrove Is not exempt from the cost of living crisis regarding gas and Èlettrit pricÈs so it looks likÈ another period of uncertainty ro navigate through, thankfully 8roomEro¥e has been well managed over the years and has suffl¢lent reserves In place. I would particularly thank my fellow trustees for their work and support for Broomgrove during a year in which key staff changes ttsok pl3tÈ and additional supptsrt w3s needed. Mlc Chairman Oate.. 13 DÈcember 2022 èe estereff Page 2
THE BROOMGROVE TRUST IA company Ilmlted by guarantee) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDE031 MARCH 2022 The Trustees present their report and ihe èuditÈd flnanclal statements of the charity for the year ended 31 March 2022. The Trustees h3ve 3dopte(S the provisions of the Staternent of RecommÈnded Prèctice ISORPI-Accounting and Reporting by charitie5" IFRS 1021 in preparing the annual report and financi31 stateinent of the charitv. The financial statements have been prepare(l in accordance with thÈ actounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Ac¢ountlng and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and RÈpublic of Irelènd published in October 2019. Objertlves ond grtivities Plans forluture perlods We review and update fvture plans and objectives of the Charity on a regular basls. lrnproving and maintaining standards The quality of care will continue to Improve throueh the recruitfnent, development and retention of effective and caring staff, receiving appropriate training, within a managed-risk environment. The residents, social wÈll-belng wlll be improved through extended activities and opportunitie5. The Physical environment will continue to bÈ improved through investment In renovation and redecor8tion throughout the home. The Trustee5 wish to maintain the best of the caring practices ènd traditions inherited from the past and continue to develop these to meet the ¢hallenges of the future. Partlcular care Is bÈ5ng taken to protect residents and staff frorn infection by the COVID-19 virus. Achlevlng a sound financlal basls The tharity will continuÈ to develop Its services to create opportunities to eenerate new income to assist in the chievement of a balanced budget, thereby helplng to share the costs facing its residents acr055 3 wider base. Steps to improve financial accounting and management have been undertaken to assist in better cost control 3nd value for rnoneyi in particvlar the Trustees have decided to use prDfession81 èsset mènagers to manage part of the free reserves. The Trust owns the freehold of the property in which the Nursing Home is located. Marketing and busine55 development A marketinE Strategy is being followed to achieve a high level ol bed occupancyi enablinÈ prices to remain competitive and affordable for our clients, whilst protecting the charity's lin3ncial viability through the achlevement of acceptable annu31 surpluses, to fund re-InvÈstment Imèintaining a'not-for-profit, ethos). PagÈ 3
THE OROOMGROVE TRUST IA<ompany limited by 8uaranteel TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI ICONTINUEDI FOR THE YEAR ENOED31 MARCH 2022 Achlevements ondperformance a. Review of results and finan¢lal posltion The Trustee5 afe to report an operations surplus of £24.476 for the year ended 31 March 2022. 12021.. deficit of 1£108.1611. Overall Income h35 increased this financial year which Is mainly down to the recovery after the global pandemic COVID-19. A number of grant payments totalling £60,335 have been received from the local authority Isheffield Clty Councill to help with the challenges of extra costs and loss in revenue frorn residents. fees. The most 518nilicant operating expense is payroll, with staff costs èccounting for 74% 01 our operating expendirure.The control of staffing leve15 and cost5 is regarded as a priority by the Trustees 8nd management te3m this year staffing costs have been 8 challenge covering sickness and self-i501ation from toronavlrus. Broomgrove has rnade use of the Job Retention Scheme and the Coronavirus statutory sick pay rebate scheme before It came to an end. SoTne non staffing costs have decre8sed by £29,000 on the prior year as a direct result of COVID-19. Most of this decrease Wa5 on rnedical supplies IPPEI £22,000. No major capital expenditure incurred in this finantial year. The level of free reserve5 has irFcre35ed for this financlèl year but the cash in bank balance has decreased by £36,575. For accounting purpose5, the 5urplu5 of £24,476 abovÈ is incrÈ3sÈd to £29.182 by the recognition ol unreali5ed and realised investment gain. 3 precaution in the previous year the trustees agreed to utilise the government 'Bounce Back Loan Scheme" and have borrowed £50,000 repayable over 0 5 year period or earller at the Trusys discretion. b. AleW ol artltdttles The principal activity of the ¢harity durlng the year continued to be the prornotion, rnanagement and maintenance of Nursin8 Horne. c. Golng concern After rnaking 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 ttrntinue to adopt the going concern ba515 in preparin8 the financial statements. d. Investment pollry Inve5tec Wealth and Investrnent Ltd continue to manage the portfollo on behalf of the Trustee5. The account is to be managed on a discretionary basis with an investrnent Strategy of medium rlsk and 8n income objectwe of 3% per annum. A benchmark has been set made up of 27.5% fixed inteie5t investments, 57.5% equities and commercial property 3nd IS% cash and alternative InvestmÈnts. The Trustees receive z vzluation of the portfolio on a quarterly basis and at least annually è manazer frcm Investec presents a verbal report to a meetin8 ol the Trustees. Page 4
THE BROOMGROVE TRUST IA company limited by guaranteel TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2022 strtstttire. goverttance u1MOnt¥4emet Oblectlves and alms The objects of The Broomgrove Trust are to provide convalescent, nursinE and respite care for the sick and aged in the sheffield area. It does this through the provi510n of lully-serviced nursing accommodation for its residential and respite patients. The dernand for small self-contained flats is reduced and at the 31st March 2022 only I remained and will not be re-let when it becornes vacant, The Trust 15 fully registered with all required regulatory bodies. b. Governing document and Trustee appointment The Charlty, The Broomgrove Trust. is a company limited by guarantee and governed by lis Memorandum and Article5 of Association. The Trustees, listed on page l are all members of the company and Ilabllity is1imited to £1 per member in the event of the charity benE wound up. New Trustees are recornmended by existing Trustee5, W1th reference and regard to the skills requirement5 of the board which are periodically reviewed by the board. Upon appointTnent, Trusrees receive acces5 to the governing documentation and are briefed by the Chairman on the current 5tatU5 of the company. All Trustees are encouraBed to attend external training to keep up to date best practice 3nd legis13tive requirements. ¢. Org#ni$ational $trutture The nursing home 15 rnanaged principally by the Nursing Home ManaaÈr, together with a 5tsff of 84 full and part time employees. under the direction ol the Trustees. Finanrial accounting and payroll services are provided by St Luke'5 Hospice on an arm's length commerci31 basis. There 15 no element of cross subsidy arising from this relationship. d. Pay poll¢yfor $enlor $taff Broomgrove's Board of Trustee51311 volunteers) delegate the safe and effective runnlng of the charity to the manJ8ement team. Broomgrove's Management team comprises the following three members.. Name Rolè Lèngth of service 8 years QualSfications Mlss Donna Plerpoinl Manager Up to 13108121 Dip N (Adult) PG Cert. Management IOSH H&S for Mattaq&rs Mrs Janet Biggin Clinical Nuf5e Manager Manager from 14108121 13 ye813 SRN Ms Judilh Warburton 17 ye8r5 SRN. RSCN, Dlp N, ENB998 Remuneratlon for the Manègement team Is determined by the 803rd of Trustees. Levels of remuneration are set to en$ that Broomgrove attrècts good people into these critical roles. with reference to rn3rket conditions ènd the Specific 5ki11s required. The ManaÉement team's pÈrformance is monitored by the Board. On the 13th August 2021 Donna Pierpoint left to take up è managerial post elsewhere and Judy Warburron was appointed in an acting capacity. and was officially appointed the M3nager on the 1st O¢tobÈr 2021. Pa8e S
THE BROOMGROVE TRUST IA comp#Thy limited by guarantee) TRUSTEES. REPORT IINCLUOING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 A4ARCH 2022 Structurei governance and management Icontinuedl e. Rlsk management By closely monitoring and assessing the current and emerging ri5k5 that have the potentlal to Impart our activitie5. we can make the best declsions for our residents and our long-term 5UStainability. Overall approach The board of Trustees conslder5 strategic and financial risks on a regul3r t515 and a commitiee of the board has been established spÈcific3lly to cover tlinical risks (Clinical Governance Committeel. roomgrove enEage5 an external organisation to support its risk assessment., rlsk management and heahh & Safety processes policies and procedures are designed to erTrable the achievement of the charity's objective5 while controlling the risks associated within the environrnent in which it opeT3tes. The reporting of risks and the monitoring of actions and controls are conducted by manaÉement as part of the governance arrangements, who routinely report the finding5 to the Tru5tee5. The Trustees utilise the information to prioritise strategic ènd operètional rlsks and ensure risk action plans are devised and irnplemented. The principal risks and uncertalntles affectSng the charlty and their potential irnpact. together with the means by which they are managÈd are as follows.. COVIO-19 The Directors have considered the impart of CQVID-19 on the charlty's activities. workforce and supply chain, as well as the wider economy. Whilst it is not ¢onsidered practlc31 to accurately assess the duration and extent of the disruption, the Trustees are confident that they hève in place plans to deal with any flnancial losses and cash delicit5 that may arise. From the Ilth November 2021 the government have instru£tÈd that all staff working in the horne have to be fully vaccinated. The Board have prepared forec35t5 of income and expenditure and cash flow for the period to 31st March 2023 3nd projections to 31st March 2024. They h3ve subjected these fcrecasts to sensitivity analysis which shows that they have sufficient reserves to be able to continue for the foresee8ble future. They will continue to moniror the impact on income and take appropriate action as necessary. The Trustees do however recognise the significant uncertainty exists surrounding the duration and impècr of COVID-1g and hence there is inherent risk regardlnÉ the success and sustainability ol these plan5. Thi5 risk represent* a materi31 uncertainty which rnay cast siÉnifi¢ant doubt about the charlty's ability to continue as a going concern, however the Tru5tee5 have concluded that the charity remains a going concÈrn whllst such viable options are available to it. The Trustees therefore continue to adopt the 80in8 concern basis ol preparation fDr these financial statements. Reduction in oecupancv Potential impact.. the majority of income is derived from resident5, Wlth the a$50Ciated rlsk that occupancy fa115 below budget. causlng a drop in revenue and resultant pressure on cash flow. Mitigation.. the tharlty continues ro focus on continually improving the quality o15ervices and facility to ensure è hlgher occupancy r3te as possible. Along with prudent byd8etlng and ensuring sufficient reserve5 are retained to mÈet Page 6
THE BROOMGROVE TRVST IA company limited by 8uaranteel TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Structurei Kovernafice and management Icontinuedl unexpected deficits. If occupancy reduces or rises, staffing leve15 8re adjusted to match demand. Agency Costs Potential impact.. appropriate staffing levels are required to ensure that the torrect level of cère is provided. With short8ge in quèlified nursing staff across the sector. the charity may be required to use agency staff which cost considerably more than thelr own staff. Mitigation.. Monthly tracking of budget against 3ctual perforrnance including agency usage is undertaken and reported to Trustees. National Minlmum Wage and Penslon Increase Potential irnpact.. a number of employees have salaries based on the statutory National Minimum WagelNatlOll31 Living Wage or c105e to thi5. As Such, legislative increases in the National Minimum W8ge and Living Wage, which 3re in excess of income inflation, coulLI reduce profitsbility. Mitigation.. the Trust budget5 carefully for National MinimvTn Wage/Living WègelPension cost increases and the impact on it5 cash flow and profitabi5ity. Reputational risk Potential imp3Ct' a serious incident or harm to one or wore residents could result In negative publicity. Such incidents may result in an Increase in scrutinyfrom re8ulators as well a5 from residents and thelr famllles. Mitigation.. in order to mitl8ate this risk as far a5 possible, we have carried out substantial employee trainin& employee inductions and employee reference procedures. including a criminzl background check for all staff. ThÈ rlsk. in particular. is monitored by the clinical governance sub-cornmittee. ReEulatory rlsk Potential impact.. the regulatory repuirements cover the entlre range of the nursing home's function. Failing to comp with Tegulation5 including the CQC registration and standard of care. can result in the levy of fines an(Ilor the revocation or su5pen5ion ol registration or temporary 5U5pen5ion of placements. A temporary suspension would have a siBnilicant effect on income as it directly 3nd negatively affect5 occupancy. Mitigation.- the charity self-assesses ègalnst key lines of enquiry which form the basis ol a CQC inspection. In July 2021 a CQC questionnaire was completed and CQC rÈsponded by saying they have found no reason to carry out an inspection or re a55e5 our rating. Broorn8ro¥e's last r3ting was"GOOD'. The aforementioned external agency engaged to identify and rnitigate health and safety requlrements undertake independÈnt assessments of heèlrh and safety standards at Broomgrove. including ensuring thèt risk assessments are curnt and SiEnifitant findings are reported to management. All accidents, incidents and near misses are investigated ènd where necÈss3ry full root cause analysi5 15 undertaken. Incidents, where required are reported unLler RIDDOR. P3ge 7
THE BROOMGROVE TrUST IA company limited by Buatanteel TRUSTEE5' REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR fHE YEAR ENDE931 MARCH 2022 Strurturep governance and management Icontinuedl We are visited regularly by South Yorkshire Fire and Rescue as part of the services of lamiliarisation and we maintain Independent contractors to check and servSce the Ilghtln& fire alarm and extinguishers. We have been currently inspected by the local authority (The Regulatorl for food hygiene and mainrain our S star rètinÉ. f. Reserve5 policy In drawing up the reserves policy, Trustees are mindful of the need to b31antÈ financial prudence with the important of Eetting money to the front line quickly. Holding reserves allow5 US to naviE3te unexptrcted drops In ncoMe or sudden 5hort-term increased in expenditure, protecting us against ri5k5 (some of which are Tnentioned above) and Include COVID- The level of reserves required is determlned using a comprehensive budaet and cash flow forecast. Regu13r upd3tes and MonrorIng of thÈse are carrled out to ensure that a surplus Is achleved 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 è reèsonable amount lo pri>vide for unforeseen financial fluctuaticns. The Trustees t3rgÈt is that free reserves (being net current assets plus investtnerFt51 are in the same finèncial r3nEe of £270,000 to E370,000 as the Trvstees are mlndful th8t the calculatlon of free re5erwes will exclude any cash b313nce5 that 31e already cotnmitted or designatÈd. As at 31 Mèrch 2022 free reseNes were £353,880 The focus in the coming year 3nd beyond will be to rnaintain the Current level of cash and free reserves to the figure stated in the policy. g. Informatlon on fundralslng practlces BroomgrovÈ is not turrently reElStered with the fundraising regulator. Durlng the year we have not appointed anv professional fund-raiser to support the work of the rh3rity or undertaken any specific fundraislng actlV1ties. We have recewed no complaints in relation to fundraising activities. h. Publ1£ Beneflt In planning and deliverin8 our service5 and activities, the Trustees and rnanagement of The BroDmgrove Trust have glven due regard to the need to ensure that the nursing home provides public benefit - following the Charity Commi$510n'S guidance on these matters. The practices developed at Broomgroye are used as template5 by other nursing hoffle5 in the city and beyond. Beds are specifically retalned so that recuperation from surgery and short terrn respite stays can be offered. This facility is not widely avallable elsewhere. resident's 5UPPOrt fund has been established to provide funds to assist residents who may encounter flnancial The Broomgrove Trust offers its services to all members of the public, ènd operates on a not-for-profit ba5is- providing SurIOr medic31 actess, attended nursing, and activities support as well as offering subsidised accommodation to residents. The Trust keeps 5iÈht of it5 ch3ritable objectives and will continue to actlvely support clients where this is appropri3te for their well-being 3nd welfare. Page 8
THE &ROOMGROVE TRUST IA cornpany limited by guaranteel TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Statement of Trustees. lesponslbllltles The Trustees (who are a150 directors of The groomgrove Trust for the purpose of company lawl are responslble for the preparing the Trustees, report and the financial statements in acccrdance with applicable law and United Kingdom Accounting Standards (United Kingdorn GenerallyAccepted Accounting Practice). Company law requires the Trustees to prepare financial 5tatetnent5 for each financial year. Under cornpany law the TrusteÈs 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 Incornine resources and application of resources, including the Income and expenditure. of the charitable company for that period. In preparing these financlal statements. the Trustees are required to.. select sUtable 2c¢ounting policies and then apply them consistently* observe the methods and principlÈs of the CharitiÈs SORP 2019 IFRS 1021.. make judgments and accountlng estlmates that are reasonable and prudent,. State whether 8pplicable UK AccountinÉ Standards hÈve bÈen fr)Ilowed, subjecr to any m3terlal departures dlsclosed and explalned in the financial statements,. Prepare the flnancial statements on the going concern ba515 unle55 It 15 inappropriate to presume that the chèritable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that ère sufficient to show and explain the charitable cornpany's transactions and disc105e with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the flnancial starements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the ch8rltable company and hence for taklng reasonable Steps for the preveTFtion and detection of fraud and other irregularlties. Dlsclosure of Information to audltor Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that.. so far a5 that Trustee is aware, there 15 no relevant audit information ol which the charitable company's audltor is unèware, and that Trustee hès taken all the steps that ought to have beÈn taken as a TrustÈe in order to be aware of anv Televant audit Information and to establish that the charitèble company's audltor Is aware of that information. that Tiustee has taken all the Steps that ought to h3Ye been taken as a Trustee in order to be aware of any relevant audit information to establish that the charitV'5 auditor is aware ol that informztion. Pège 9
THE BROOMGROVE TRUST IA company Ilmlted byguaranteel TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Auditor The auditor. 8HP LLP, have IndScated their willingness to continue in offlce. The Designated Trustee5 will propose a motlon re-appointing the auditor at a meeting of the Trustees. In preparing this report, the Trustees have tsken advantage of rhe small companies exernptions provided by Section 41SA of the Companies Act 2006. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr M N Pesterkn FCA FCIIT Ichair of Trustees) Date.. 13 DecembÈr 2022 Page 10
THE BROOMGROVE TRUST IA company Ilmlted by guaranteel INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE BROOMGROVETRUST Opinion We have audited the financial statements of The BroomgTove Trust Ithe 'charit3ble cornpany'l for the year endeLI 31 March 2022 which cornprise the Statement of financial activities, the Bèlance sheet, the Statement of cash flows and the related note5. including a summary of significant accounting policies. The financial reporting framework that has been applied in thÈlr prepararion is applicable law and United Kingdorn Accounting Standards, including Financlal RepDrting Stsndard 102 'The Financi31 Reporting Stznd3rd applicable in the UK and Republic ol Ireland, (United Kingdom Generallv Accepted Accounting Practice). In our opinion the financièl ststements.. give a true and fzir view of the state of the charitable company's affairs as at 31 March 2022 and of it5 incoming resources and application of resources, including its income and expenditure for the year then ende(S.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirewents of the Cornpanies Act 2006. Basls for oplnlon We Conducted our audit in ac¢ordance with Internationbl Stsndards on Auditln8 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's re5POn5ibilitie5 lor the Budit of the financial statements section of our report. We are independent ol 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'5 Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropri3te to provide a basis lor our opinion. Concluslons relatlng to golt)g concern In auditing the finallci31 statements, we have concluded that the trustee5' use of the going concern basis of accounting in the preparation of the financi31 staternent5 15 appropriate. Based on the work we have performed. we have not idÈntifled any material uncertalntles relètSng to events or condltions that. indlvidu311y or collectively, may cast significant doubt on the charitèble tompany's ability to continue as a going concern for a perltsd tsf at lÈast twelve rnonths frorn when the financial 5tatement5 are authori5ed for i$5ue. Our responsibilities and the responsibSlltles of the trustees wirh respect to going concern are described In the relevant sections of this report. Page 11
THE BROOMGROVE TRUST IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OFTHE BROOMGROVETRUSTICONTINUEDI Othef information The trther informatlDn comprlsÈs the informatlon Included in the tru5tees' report other than the fin3ncial statern2nt5 and our audito¢5 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 infortnation and, except to the extent otherwise explicitly stèted in our report. we do not expre55 any form of assurance conclu510n thereon. Our responsibility is to read the other information and, in doine $0, ttrnsider whether the other information is materially inconsistent with the financial 5tateFnent5 or Ouf knowledge obtairied in the course of the audit. or otherwise appears to be rnateriallv misstated. If we Identify such material Inconsi5ten£ies or apparent rnaterial missiatements. we are required to determine whether this gives rise to a material misstatement in the financi31 statement5 themselves. If, based on thÈ work we have performed, we conclude th3t there Is a marerièl mi55tatement of this other inlorn7ation. we are required to report thai fact. We have nothing to report in this regard. Opinions on other Matters prescribed by the Companlts Act 2006 In our oplnion. based on the work undertaken In the course of the audit.. the inform8tion given in the trustees, report (incorporating the directors, report) for the financlal year for whl£h the financial statements are prepared is consistent with the financial statemenis. the director5. report ha5 been prepared in accordan¢e with applicable legal requirements. Matters on which we are requiied to report by exception In the light of our knowledge and understanding of the ch3rirable company and its environment obtained in the tourse of the audit, we have not identified material misstatements in the directors, report. We have nothlng to report in respect of the following rnatters in relation to which Companies Acr 2006 requires us to report to you if, In our opinion.. adequate accounting records have not been kept. or return5 adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreerDent with the accounting records and returns.. or certain disc105vre5 of directors. rernuneration specified by law are not made,. or we have not received a51 the inforrnation and explanations we require for our audit., or the TIu5tee5 were not ÈntitlÈd to prepare the flnanclal statements in accordance with the small cornpanie5 regirne and take advantage of the small ¢ompanies' exÈmptSons in preparing the director5, report and from the reouirement to prepare a strategic report. PaEe 12
THE BROOMGROVE TRUST IA Company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST ICONTINUEDI Responslbllltles of trustees A5 explained more fully in the trustee5' respon5ibilitie5 Statement, the trustees (who are also the directors of the charitable company for the purposes of comp3ny1èwl are responsible for the preparation of the financial statements and for being satisfied that they give 3 rruÈ and fair view, and for such internal control as the trustees determine is necessary to enèble the prepar3tion ol financial 5tatement5 that are free froTn mèterial misstatement, whether due to fraud or error. In preparin8 the financial statements, the trustees are responsible for assessing the charitable £ompany's abiiiry to continue as a going concern. disclosinE. as applicable, matters re13ted to going concern and using the goinE concern basis of 3ccounting unless the trustees either Intend to liquidate the charitable company or to trase operatlOn5, OT have no reallstlc alternative but to do so. Auditor's re5ponsibilitie5 forthe audit of the financial statements We have been apinted auditors under the Companies Att 2006 and reporr in accordaftce with this Act. Our objectives are to obtain reasonable assvrance about whether the financial statements as a whole are free from material Thi5Statement, whether due to fraud or error, and to 155ue an Èuditor's report that includes our opinlon. Reasonable a55urance 15 a high level of a55urance, but 15 not a guarantee that Hn audit conducted In accordance wlth ISAS IUKI will alw3ys detect a material mi55taternent when it exi5t5. Mi55tatetnents can arisÈ from fraud or error and are Considered materi81 il, individually or in the 3Egregate, they could reasonably be expetted to influence the economlc deci510n5 of usef5 taken on the basi5 of these financial statements. Irregularities, including fraud. are Instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibllities, outlined above. to detect material misstatement5 in respect of irregularitie5. including fTaud. The extent to which our procedures are capable of detecting Irregul8rities, 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-compllance with applicèble laws and regulations.. we identified the lèws and regulations applicable to the charitèble company through dlscusslons with management and trustees and frotn our knowledEe and experiences of the settor., we focused on specific law5 and regu13tions which we considered tnèy have a direct materlal effect on the flnanclal st3tement5 or the operations of the ch3ritable companyi including Charitie5 Act 2011 and Companies Act 2006. we assessed the extent of compliznce with the laws and regulations identified above through making enouiries of manègement and tru5tees.' Identified laws and regulations were communicated within the audit team regularly and the team remèineLI alert to instances of non-¢ompliance throughout the audit. We assessed the susceptibility of the charitable company'5 financial staternent5 to material mlsstatemenL Inclvding obtaining an understanding of how fraud might occur, by,. making enqulrles of management and trustees as to where they consldered there was susceptibilityto fraud, their knowlèdge of actual, suspected and alleged fraud.. and Considering the internal contro15 in place to mitigate risks Df fraud and non<ompliance wlth13ws and regulatlons.. To address the risks of fraud through management bias and override controls. we.. performed analytical procedures to identify any unusual or unexpected relationships.. Page 13
THE BROOMGROVE TRUST IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BROOMGROVE TRUST ICONTINUEDI tested journal entries to identify unusual transactlons.. investigated the rationale behind significant or unusual transactions. In response to the risk of Irregularltles and non-compliance with laws and regulation5, we designerl procedures whlch included, but were not limited to.. agreeing financial statement disc105ures to underlying supporting documentation.. reading the minutes of meetings of those charged with governance enquiring of management as to actual and potentlal litigation and claims. 8ecause of the Inherent Ilmitations of an audit, there is a risk that we will not detect all Irregularlties. including those leading to a material misstatemÈnt in the flnancièl statements or non-compliance with regulation. This risk increases the more that cornpliance with a law or rÈgulation is rÈmoved from the events and transactions reflected in thÈ financial Statements, a5 we will be le55 likely to berome aware of instances of non-compliance. The risk 15 also 8reater regarding irregularities occurring due to fr3ud rather than error, as fraud involves intentional concealment, lorgeryi coIIu510n. omission or misrepresentation. A furthÈr description of our responslbilities for the audit of the financial statement5 15 located on the Financial Reporting Covncil's websitÈ èt.. www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report Ss 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 audir work has been undertaken so that we might state to the charitable comp8ny's members thosÈ matters we are required to stète to them in an auditor's report and for no other purpose. To the fullest extent pÈrmitted by law, we do not 8ccepi or assume responsibility to anyone other than the charitable company ènd its membÈrs. as è body, for our audlt work, for this report. or for the opinion5 we have forrned. @4f Jane Marshall Iseni(>r statutory auditotl for and on behalf of BHP LLP Statutory auditor 2 Rutland P3rk SIO 2PD Date.. 13 December 2022 Page 14
THE 8ROOMGROVE TRUST IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPEND1TURE ACCOUNTI FOR THE YEAR ENDED31 MARCH 2022 Ur¥restricted funds 2022 Restricted fund5 2022 Total funds 2022 Total funds 2021 Note Intome from.. Donations and legacles 73,636 1,843,105 4,540 10,179 60,335 133,971 123,596 1,843,105 1,833,203 Investment5 3,775 6,437 Other incorne 10.179 Total Income 1,931,460 60.335 1,991,795 1.967,011 Expenditure on.. Charitable acti¥((ies 1,906.984 60.535 1,967,319 2,075,172 Total expendlture 1,906,984 60.335 1.967.319 2.075,172 Net Incomellexpendiiurel belore net B•in$ on investments Net gains on Investments li Z4N76 24A76 1108,1611 22,872 15 4,706 4.706 Net rnovement In funds 29,182 29.182 185,2891 Re¢on¢iliatlDn of funds: Totsl funds brought fon¥ard Net rnovement in funds 1,504,466 29.182 1,504,466 29,182 1,589.755 185,2891 Total funds carrled forward 1,533,648 1.533.648 1,504,466 The Statement ol financial activitie5 cornplies with the requirernents for an income and expenditure account under the Companies Act 2006 and includes all gains and105ses reco8ni5ed in the year. All income and expendlture derkve from continuing actlvlties. Page IS
THE BROOMGROVE TRUST IA company limited by guarantee) REGISTERED NUMBER.. 01746654 BALANCE SHEET ASA T31 MARCH 2022 2022 2021 Note Flxed assets Tangible assets 1nve5trnents 14 1.179,768 154,182 1.194,080 149,474 Is 1,333,950 1,343,554 Currefii assets Debtors 16 242.053 123.492 213.301 Cash at bank and in hand 176.726 418,779 336,793 Creditors.. arnounts falling due within one year 17 1178,5881 1125.8811 Net tuirent assets 240,191 210,912 Total assets less current Ilabllltles 1,574.141 1,554.466 Creditors.- amounts falling due after rnore than one year 18 140A931 150.0001 Total net assets 1,533,64B 1,504.466 Charlty funds Restricted fund5. Unrestricted funds (including Rev3lu3tion Reserve of £10.084, 2021.. £7,827] 19 1,533,648 1,$04.466 fund$ 1,533,648 1,504,466 Paee 16
THE 8ROOMGROVE TRUST IA compaThy limited by 8uarHnteel REGISTERED NUMBER.. 01746654 BALANCE SHEET ICONTINUEDI ASA T31 MARCH2022 The Trustees acknowledge their re5ponsibilitie5 lor complying with the requirernents ol the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provlslons applicable to entitles sublect to the small companlÈs reglme. The financial statements were approved and authorised lor issue bythe Trustees and signed on their behalf bv.. Mr M N Pe5tergff FCA FCILT (Chair of Trustees) Date.. 13 December 2022 The notes on pages 19 to 37 form pèrt of these financial statement5, PaÈe 17
THE BROOMGROVE TRUST (Acompany Ilmlted by 8uaranteel STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 MARCH 2022 2022 2021 14ote Cash élow5 from operatlnE activitles Net cash provided by operating activities 22 11,2941 19,1481 Cash flowsfrom Investlng actlvltles Purchase of tan8ible fixed a55et5 Proceeds from sale of investments 135.2791 34.60ri 129,9071 116.9321 40,172 139,4591 Purchèse of investments Net cash used In In¥estlng adlvltles 130,5861 116.2191 Cash inflows from new borrowing 50,000 Change l# cash and tash equivalent$ in the year 24.633 Cash and cash equivalents at the beginning ol the year 217,181 192,548 Cash and cash equl¥alents at the end of ihe year 23 185.301 217,181 Pège 18
THE BROOMGROVE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 General 5nfomiatlon The charlty Is a company Ilmlted bv Euarantee and governed by its Memorandurn and Articles of Association. The registered office is 30 Broomgrcve Road, Sheffield, SIO 2LR. A¢tountin8 poli¢ies 2.1 Ba515 of preporation offinon¢ialstuternent5 The charity constitute5 a public benefit entity as Llefined by FRS 102. The finènclal statements have been prepared In èccordance with Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial ReportinE Standard applicable in the UK and Republic of Ireland issuÈd in October 2019, the Financial Reporting Standard 3pplicable in the United KingdoTn and Republic of Irelènd IFRS 1021, the Charities Act 2011. the Cornpanies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the hSstorlcal cost convention. modified to include certain items 3t fair v&lue. The financial statements are presented in sterling which Is the functional currency of the charity and rounded to the nearest £. The signlflcènt 8ccounting policies applied in the preparation of these fin3ncial ststements are set out belov4. These policies have been consistently applied to all years presented unle55 Otherwise stated. 2.2 Income l income is recDgnised 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 rnea5ured reliably. The recognition of income from legacies is dependent on establishing entitlÈment, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. EvidencÈ of entirlement to a legacv exist5 when the charity has sufficient evidence th3t a gift ha5 been left to them Ithrough knowledge of the existence of a valid will and the death of the benefactor) 3nd the executor is satisfiÈd that the property In question will not be required ro sarisfy claims in the estate. Receipt of a legacy must be recoEnised when it is probable that it wlll be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to thÈ charity, can be reliably measured. oiher income is recoEnised in the period in which It is receNable and to the extent the good5 have been provided or on completion of the Service. 2.3 Expendlture EXnditre Is recognised once there is a legal or constructive obligation to transfer economlc beneflt to a third party, It Is probable that 3 transfer of economic benefits will be required in settlemeni and the amount ol the obligation cèn be measured reliably. Expenditure Is classified by activity. The costs of each activity are made up of the total of direct Costs and shared tosts, including support costs Involved in undertaking each act1Vlty. 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 8rtivitY 8re pportioned between those activities on 3 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. Page 19
THE BROOMGROVE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ounting poli¢le$ l¢ontinuedl 2.3 Expendlture f£ontlnuedJ Expenditure on charitable activities is incurred on directty undertsklng the activities which further the chaTlty's objectives. as well as any associated 5UPPOrt COSt5. All expenditure is inclusive of irrecoverable VAT. 2.4 Intestre¢¢jVb1e Interest on funds held on dep051t is irTr¢luded when receivable and the amount cèn be measured reliably by the charity,. this is norma51y upon notification ol the interest paid or payable by the instltutlon wlth whom the funds are deposited. 2.5 Tongibleflxed ossets onddepreclt7tion Tangible fixed assets are included at original cost less ac£umul3ted deptIatIon. with the exception of freehold buildings and paintings. Freehold building5 are not depreci3ted because they are maintained in good condition so that their value is not significantly Impaired by the passage of tirne, and in consequence any element of depreciatlon would be Imm8terial. The paintings are not depreciated because their value is not sIEnificantly Impaired by the passage of time. and in consequence any element ol depreciation would be Immèterlal. The non-depreclatlon Df freehold bulldlngs and paintlng5 15 a departUTe from the gener)I requirement of the Companies Act 2ffl6 and Charities SORP IFRS1021 for all tangible asset5 to be depreciated. The tru5tee5 are of the oplnlon that such treatment Is necessèry to give a true and fair view. A dÈ mlnimus limit is sÈt wherÈby only expendlture over £500 is capitalised. unless it 15 part of a largeT project. In accordance with FR5102, the trusteès have performed an annual impairment review 3nd consider that the carrying value ol the freehold property and the painti8$ is not hlgher thèn thÈ recoverable amount. A review for irnpairment of a fixed a55et 15 carried out rf events or changes in circumstances Indlcate 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 recogni5ed as impairments. lrnpairment losses are recognised in the statement of financial actlvities incorporating Income and expenditure account. Depreciation is charged so as to allo¢ate the cost of tangible flxed assets less their residual value over their estimated useful lives. Depreciation is provided on the following ba5es'. Major refurblshments Artwork Equipmenv refurbishments and erations Cornputer equipment Lift 10 years straight line Impaired cost 25% reducing balance 3 years strèiEht line 20 year5 Straight line Page 20
THE BROOMGROVE TRUST IA company l¢mited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ountinB policies Icontinuedl 2.6 Invtstmenis Fixed a55et investments are a form of financial instrument and are initially recognised at theirtr3nsaction 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 lÈss impairment. Investment Éains and losses. whether re81ised or unrealised, are combined and presented as 'GainsllLosse51 on investrnents. in the Statement of financial 2.7 Debtors Trade and other debtors are recognlsed at the settlement amount after any trade discount offered. PrÈpaymentS 8re valued at the amount prepaid net of anytrade discounts due. 2.8 Cosh tst bonk artdirt ht7nd Cash èt bank and In hand includes cash and short-term hiÉhly liquid investments wlth a short maturlty of three months or less from the date of a¢quisitiorTr or opening of the deposit or similar account. 2.9 Llqbillties ondprovi5i0nS LiabilitSes are rÈcognised when thÈrÈ is an obligation at thÈ Balance sheet date as è result of a past event. it is probable that a transfer tsf economic benefit wlll be required in settlement. and the amount of the settlement can be estimated reliably. LSabi1ities are recognised èt the amtsunt that the charity 3nticipares it v4ill pay to settle the debt or the amount it has rÈceived as advanted payments for the goods or services it must provlde. Provlsions are measured at the best estimate of the amotsnts requlred to settle the obllgatlon. Where the effect of the timÈ value of monty is matÈrial, the provision is based on the prÈsÈnt value of those amounts, discounted at the pre-tax discount rate that refletts the risks specific to the liability. The unwinding of the discount is recognised in the Statement of fin6ncial activitie5 a5 a finanre cost. 2.10 Finun¢iqlinstrurnents instrurnent5. 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 rneasured at amortisÈd cosr using thÈ effective interest mÈthod. 2.jl Pen5ion5 The charity operates a stakeholder pension scheme, a personal pension plan and an Auto-Enrolment pen510ll scheme. Contributions are expensed as they become payable. Page 21
THE BROOMGROVE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 fvIARCH 2022 Ac¢ounting policies IcontiTruedl 2.12 Fundtsttountlnl General funds are unrestricted fund5 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. Qesignated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim arFd use of each designated fund is set out in the notes to the financizl statements. Restricted funds are fund5 which a to be used in actordance with spe¢iflc restrlctlons imposed by donor5 or which have been raised by the charity for particular purposes. The costs tsf raising ènd administering such fund5 are charged against the Specific fund. The aim and use ol each restricted fund is set out in the notes to the financlal statements. 2.13 Employee benefvts When employees have rendered servlce to the charity, short-term employee benefits to which the employee5 are entltled are recognlsed ar the undiscounted amount expected to be paid In exchange lor that service. 2.14 Tqx The COmn¥ is considered to pas5 the tests set out in Sch. 6. para. l ol the Finance Att 2010 and therefore it meets the deflnition of a charitable company for UK corporation tax purpose5. Accordingly, the company is potentially exÈmpt from taxation in respect of Income or capit81 gains received within categories covered by Pt. 11. Ch. 3 of the Corporation Tax Acr 2010 or 5. 256 of the T8Xation of Chargeable Gain5 Act 1992, to the extent that such income or 83lns are 2pplled excluslvely to charltable purposes. Crltical atcountirbg estlmates and areas of judgment Estimètes and judgmènts are continually evèluated and ère based on historical experience and other factors, including expertations of future events that are belleved to be reèson8ble under the circumstances. Critical accounting estimates and assumptions.. The charity makes estimates and as5UrnPtions conrerning the future. The resulting accounting estimates and assumptions will, by definit10n, seldoffl equal the related Bctual results. The palntlngs Included wlthin fixed assets are based on the trustees, opinion ol theirvalue tskinÉ into èccount thelr knowledge of the market for similar assets. Page 22
THE 8ROOMGROVE TRUST IA company Ilmlted byguaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2022 Income from donations and le8acies Unre$tri¢ted fund5 2022 Restrlrte fund$ 2022 Total funds 2022 Total fund5 2021 Legacies and donations Grants received 73.636 73,636 43,289 60,335 50,335 80,307 Toto12022 73,636 60,33S 133,971 123,596 Tot312021 43,477 80,119 123,596 Income from charltable artivltle$ Unrestricted funds 2022 Total funds 2022 Total funds 2021 Patients. fees 1,828,286 14,819 1028.286 14,819 1,819.191 14,012 Receipt5 from re5ident5 Toto12022 1,843,105 1,843,105 1,833,203 Total 2021 1,833,203 1,833,203 In the prior year, all income from charitable activites was unrestricted. Pège 23
THE 8ROOMGROVE TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 InvEStment incorne Unrestricted funds 2022 Total fud5 2022 Total funds 2021 Investment income 4,540 4.540 3.775 Total 2021 3.775 3.775 In the prlor year. all Investment Income was unrestricted. Other in¢Dme Unrestrtrted lunds Z022 Total funds 2022 Total funds 2021 Furlough income IQRS) 10,179 10.179 6,437 Total 2021 6.437 6,437 Analysls of expenditure on charitable activltles 5ummory bvAund type Unrestrbrted funds 2022 Restrlcted lunds 2022 Total 2022 Totsl 2021 1,906,984 60.335 1.967.319 2,075,172 Tor312021 1,995,053 80.119 2.075,172 Page 24
THE BROOMGROVE TRUST IA company limited by8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2022 Analysls ol expenditu by aaivitie$ Total fund5 2022 Total funds 2021 Dlrect costs Support cost5 2022 202Z 1,906.716 60.603 1,967,319 2.075.172 Total 2021 2,015.502 S9,670 2.075,172 Analysis of dirett ¢o$ts Total funds 2022 Total funds 2021 Stèff costs 1,447,330 49,591 28,557 29.448 1,494,561 53,943 25,144 33,183 73,489 85,663 54,463 Depreciation Water, council tax and insurance Light. heat and power Repairs, renewals and upkeep Fotsd 78,735 80,004 44.431 Miscellèneous expense5 Medic31 services and supplies Legal and professional fees Agency fees Governance costs 59,415 13 80,974 513 83,445 107,871 li 5.747 5,698 1,906,716 2,015,502 Page 25
THE BROOMGROVE TRUST IA company Ilmlted byBuarat)teel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2022 Analysls ol expendlture by adlvltles Icontinuedl Analysis of $upport cost$ Total ftsnds 2022 Total funds 2021 Telephone, postage and advertising Miscellaneous expenses Legal and professional fees Governance costs 14,258 8,912 2.548 16,787 8,394 2,177 32,312 34,885 Toto12022 60.603 59,670 io. Governance costs 20ZZ 2021 Dire¢t¢osts Wage5 and Salaries 5,747 5,698 support costs Telephone, postage and advertlslng Legal and PTofession31 fees Audit fees 1,585 1.865 27,6ty) 25,047 34,885 32,312 Totolgovernonce 40.632 38,010 In 2022 and 2021 all expenditure on governance costs was from unrestrirted funds. Page 26
THE BROOMGROVE TRUST IA company limlted byguaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED32 MARCH 2022 ii. Net in¢omellexpendltutel 2022 2021 Th is stotedGfterchorying.' Depreclation of tanglble flxed assets owned by the charity 49,591 53,941 49,591 53.941 12. Aydiiorf$ remuneration 20Z2 2021 Fees payable to the charity's auditor for the audit of the charity'5 annual accounts 5.700 5,400 13. stalf costs 2022 2021 Wages and salaries Social security costs Other pÈnsion Costs 1,338.866 90.673 Z3,538 1,377,822 94,841 27.596 1,453,077 1,500.259 The average number of persons employed by the charity during the year was as follows.. 2022 No. 2021 No. Admininstration Nursing Housekeeping Catering We1lben8 Maintenance 53 56 io io io io Laundry 88 Page 27
THE BROOMGROVE TRUST IA Company limited byBuaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2022 13. Staff costs Icontinuedl No employee recelved remuneratlon amountlng to more than E60,QOO in either year. The total amount ol employee benefits including employer's Nl and nsIOn recelved by key management personnel is £90.239 12021 £109.1981. The CharitV'5 key management personnel are detailed in the Trustees, Report. DuTing the year, no tru5tee5 received any remvnerètion12021- £nill. During the year, no trustees received any benefits in kind12021 £nill. L)uring the year. trustees received reimbursernent of expenses totalling £nil12021 £nill. Pège 28
THE BROOMGROVE TRUST IA Company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Tangible fixed assets Caterfng refurbi5hmeni Freehold Entrance property refurblshment Office equlpment Palntln Total C05torvaluution At l April 2021 Additions 954,051 102.005 67,471 917,922 3S,279 81.22S 2.122,674 35,279 At 31 March 2022 954,051 102,DD5 67A71 953,201 81,225 2.157,953 Depreclotlon At l April 2021 CharÈe for the year 91,804 10,200 755.565 39,391 81225 928,594 49,591 At 31 March 2022 102.004 794,956 81.225 978.185 Net book vulue At 31 March 2022 954,051 67,471 IS8,245 1,179,768 At 31 March 2021 954,D51 10,201 67,471 162,357 1,194,080 Page 29
THE BROOMGROVE TRUST IA ¢ompany limited by 8u•ranteÈl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Fixed asset investments L4$ted secutrltles Cash Total C05t orvuluution At l April 2021 Additions 145,594 149,474 34,602 134.6001 4.706 29,907 134,6(wJl 4,69S Disposals RÈv81uations At 31 March 2022 145,607 8.575 154,182 Net book volue At 31 March 2022 145.607 8,575 154,182 At 31 March 2021 145,594 3,880 149,474 The hlstorlcèl cost of the Ilsted securltles are £135.52312021'. £137.7671. 16. Debtors 2022 2021 Due wfthin one yettr Trade debtors 210,074 78,762 44,730 Prepayments and accrued income 31,979 242,053 123,492 Page 30
THE BROOMGROVE TRUST IA company Ilmlted by guarantee) NOTES TO THE F5NANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. Credltor$.' Amourf$lo11ing due wlthln orte yÈar 2022 2021 Bank loans 9,507 5fi.532 Trade creditor5 40,659 Other taxation and Social security Accruals and deferred income 28.424 26,424 B4,125 58,798 178,588 125,881 2022 2021 Deferred income at l April 2021 Resour¢e5 deferred during the year Amounts released from previous periods 3,619 4,476 13.6191 2,416 3,619 12,4161 4,476 3,619 Deferred income represents monies received in advance of services rendered. The bank loan is unsecured and h35 a 2.$% annual interest rate. It 15 due to be repaid in full by Aprll 2027. 18. Credltois.. Amounts falling due after more than one year zozz 2021 Bank loans 40.493 50,000 The bank loan is unsecured ha5 3 2.5% annual interest rate. It is due to be repaid In full byApril 2027. Page 31
THE BROOMGROVE TRUST IA company Ilm5ted by guarantee? NOTES TO THE F5NANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. statement of funds Statement of funds- Current year Balance at I April 2021 8al*nce at 31 March 2DZ2 Ir•come Ettyndifure ILossesl UnrestrfrtedAunds Designgtedlunds Residents support fund 27,318 13,0241 24.294 GenerolAunds Geneial Funds 1,477,148 1.934.484 11.906.984) 4,706 1,509,354 Totol UnrestrlctedAunds I,S04,466 1,931,460 11,906,984) 4.706 1.533.648 RestrktedAurnTs Covld-19 SCC Infectlon Control 40,220 140,2201 Marjorie Coote- Grant towards new carpets SCC- National Living Wage Grant 3.000 17.115 13.0001 117,1151 60,33S 160.3351 Totuloffunds 1,504,466 1,991,795 11,967,319) 4.706 1.533.648 Page 32
THE BROOMGROVE TRUST IA ¢ompany limited by ¥uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2022 19. Statement of funds Icontinuedl statement of lunds- prlor year Balance at 31 March 2021 Balance at l April 2020 Gains/ (Losses) Income Expenditure Unrestrictedfunds Deslgnotedlunds Residents 5UPPOrt fund 38.602 111,2841 27,318 Generulfunds General Funds 1,551,153 1,898,176 11,995.0531 22,872 1,477.148 TotulUnre5tnctetlJund5 1.589,755 1.886,892 11,995,053) 22,872 1,504,466 Restrlctedlunds Covid-19 SCC Infettion Control 80,119 180,1191 TotalofAtsftds 1,589,755 1.967,011 12.075,1721 22,872 I,SQ4.466 Desi nated Funds ResidÈniS support fund.. thi5 fund ha5 been established to cover residents fees when there has been a ehan8e in a resident's financial circumstances. The funds are to be utilised at the trustees, discretion. Marjorie Coote- funding for new carpets RestrlctÈd Fun SCC- gr3nt for National Livin8 Wage SCC grant lor Covid-19 Infection Control Page 33
THE 8ROOMGROVE TRUST IA company limiled by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCII 2022 20. Summary offund5 Summary of fund5- current year 6Jlance * I Aprll 20ZI Galn$l ILos5e51 Balance at31 March 2022 Income Expendlture Designated fund5 GenÈr31 funds 27,318 1.477.148 13.0241 1,924.484 60,335 Z4,294 11,906,9841 160,3351 4,706 1,509,354 Restrlcted funds 1,$04,466 1,991,795 11,967,319) 4.706 1,533.648 Summary of lunds- prior year Balance èt 31 Mèrch 2021 Balarice at l April 2020 Gains/ (Losses) Income Expenditure Designated funds General funds 38,602 1,551.153 111.2841 1,898,176 80.119 27,318 1,477.148 11,995.0531 180.1191 22.872 Restricted funds 1,589.755 1,967,011 12,075,172) 22.872 1,504,466 Page 34
TrIE BROOMGROVE TRUST IA cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 202 21. Analysls ol net asset5 between funds Anatysi$ of net asset5 between funds- Current year Unre5trirted funds 2022 Total funds 2012 Tangible fixed assets Fixed a55et investrnents 1.179.768 1,179,768 154,182 418.779 1178.5881 140,4931 154.182 Current asset5 418,779 1178,5881 140.4931 Creditors due within one year Creditors due in morÈ than one year rotal 1,533,648 1,533.648 Analysis of net assets between fvnd$- prior year Unrestricted funds 2021 Total funds 2021 Tangible fixed asset5 Fixed asset investrnentS 1,194,C)80 1.194,080 149,474 336,793 1125,8811 150,0001 149,474 336,793 1125.8811 150,0001 Current assets Creditor5 due within one year Creditors due in more than one year Totol 1,504,466 1,504,466 Page 35
THE BROOMGROVE TRLIST IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2022 22. Reconciliation of net movement In fu#ds to Aet cash flow from operatinR )divitie$ 2022 2021 Net incomelexpenditure forthe year la5 per Staternent ol Financi31 Activities) 29,182 185.2891 Adlustmentsfor.. Depreciation charge5 Lcsse5 on investments 49.591 53,943 122,8721 51,413 16,3431 14.7061 1118,5611 43,200 Decreasellincreasel in debtor5 IDecreasel/increase in creditors Jyetcosh usedln operotlng urtlvltles 11,2941 19,1481 23. Analysls ol ¢a$h and cash equivalents 2022 2021 Cash in hand 176,726 8,575 213.301 3,880 Cash held in investments Totalcosh ondcosh equlvolents 185.301 217,181 24. Analysis of changes in net debt At l Aprll 2021 Other non- Co$h flows tash changes At 31 Mar¢h 2022 Cash at bank and in hand 213,301 136,5751 176,726 19,5071 140,4931 Debt due withln l year Debt due after I year 19,5071 9,507 I50,0¥ 163.301 136.5751 126.726 Page 36
THE BROOMGROVE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 25. Pension wmmitments The company operates a stakeholder pension scheme, a person31 pension plan and an Auto-Enrolment pension scheme. Pension costs are accounted for in accordance with FR5102. Pension cost5 charged in the financial statÈment5 are £23,53812021 _ £27,596> representing the contributions payable by the charity durinE the year ended 31 March 2022. There were contributions totalling E4,63112021 E4,3611 outstanding at the year end. 26. Related partytrans#¢tions No related party transactions have taken place during the year12021'. none). Page 37