OpenCharities

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

2021-03-31-accounts

Registered number: 0600800 Charity number: 0527036

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report and Financial Statements

for the year ended 31 March 2021

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 7
Independent Auditors' Report on the Financial Statements 8 - 12
Statement of Financial Activities 13
Balance Sheet 14
Statement of Cash Flows 15
Notes to the Financial Statements 16 - 31

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers for the year ended 31 March 2021

Trustees Christine Lobley
Joan Roebuck
Anthony Wilkinson, Chairman
Carol Reeds
Company registered
number
0600800
Charity registered number
0527036
Registered office
Redcourt
Hollincross Lane
Glossop
Derbyshire
SK13 8JH
Company secretary
Mrs Emma Oakes
Senior management team
Emma Oakes, Finance Executive
Susan Hammond, Head of Care
Michelle Cuddy, HR Manager
Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
Lancashire Gate
21 Tiviot Dale
Stockport
Cheshire
SK1 1TD
Bankers
National Westminster Bank Plc
Norfolk Square
High Street West
Glossop
Derbyshire
SK13 8BR

Page 1

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report for the year ended 31 March 2021

The Trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report together with the audited financial statements for the year 1 April 2020 to 31 March 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The Trustees who served during the reporting period were:

Mr Anthony Wilkinson (Chairman) Mrs Christine Lobley Mrs Joan Roebuck Ms Carol Reeds

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The charitable objectives in the Memorandum and Articles for which the Charity is established are:

To provide care and support for adults with disabilities and the elderly for the public benefit and to provide social housing and housing support.

b. Strategies for achieving objectives

The philosophy of the Charity remains the same as when it was first founded, that all residents and service users should receive the necessary care, guidance, support and training to enable them to reach their full potential and to lead as normal a life as possible. The Charity is committed to providing the best possible care and support to achieve optimum outcomes for its residents and service users. The Charity is constantly working to raise standards and improve quality.

c. Activities undertaken to achieve objectives

The Charity’s main activities are the provision of care and housing to adults with disabilities. It provides residential care to adults at Redcourt and it provides housing and domiciliary care for service users in 7 houses in the community. It also provides domiciliary care for people living in their own homes in the High Peak area.

d. Main activities undertaken to further the Charity's purposes for the public benefit

The Trustees confirm that they have complied with the duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. Although the Charity is a fee charging charity, no person is excluded from its services based on their financial situation, as the local authority is liable for the care cost and not the individual. The Charity provides specialist care for older adults with disabilities who would otherwise be given a bed in a standard care home for the elderly, which would be unable to meet their needs.

Page 2

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2021

Achievements and performance

a. Review of activities

The charity's plan for the year was to continue looking for new clients to fill the newly refurbished care home, to promote its services and look for new clients and to fill vacancies in its housing. However, the risks posed by COVID-19 in the community and the care home have delayed this. Any clients that were due to move into the properties have been put on hold and all promotional work in the community has completely stopped. The Trust's main focus during the year has been to keep its clients and staff safe and well. The COVID-19 pandemic has dominated the trusts focus for the full year with safety being our main priority. A small number of clients and staff tested positive during the year but all have fully recovered.

b. Investment policy and performance

The Charity has approximately £2.85m of assets, most of which relate to properties used for charitable activities. In addition, it holds cash reserves to cover planned and unplanned expenditure. The Charity wishes to balance the needs of current and future beneficiaries.

The Trustees of the Charity are governed by the Trustee Act 2000 which sets out the general power of investment.

Investment objectives

The Charity seeks to produce the best financial return within an acceptable level of risk. The investment objective for the short term reserves is to preserve the capital value with a minimum level of risk. Assets should be readily available to meet unanticipated cash flow requirements.

Risk

The Charity holds assets to fund planned expenditure over the next three years. As such, capital volatility cannot be tolerated and assets should be invested to minimise risk. The Charity's short term assets are held in cash or near cash investments denominated in sterling.

Liquidity requirements

To allow for unexpected events, the Trustees wish to maintain at least 3 months worth of running costs in cash or lower risk liquid investments.

Time horizon

The Charity has divided its reserves into those expected to be held long term and those that may be needed in the short term.

Management reporting and monitoring

The Charity manages its own cash deposits and has nominated a list of authorised signatories, two of whom are required to sign instructions to the deposit-taking institution. The Finance Executive monitors the cash position and prospective cash flow schedule and reports this to the Board of Trustees at each monthly meeting.

Approval and Review

The investment policy was prepared by the Finance Executive of the Charity to provide a framework for the management of its assets. It will be reviewed on an annual basis to ensure continuing appropriateness.

Page 3

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2021

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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.

At the start of 2020, the globe entered a period of uncertainty and concern with the outbreak of the COVID-19 pandemic. Following the UK Government's lockdown announcement on 23 March 2020, all non-essential businesses were forced to close and restrctions were implemented for care homes. During this period, the Charity utilised the support provided by the Government including the Coronavirus Job Retention Scheme to offset payroll costs.

As a result of the pandemic, staff costs and Personal Protective Equipment (PPE) costs increased towards the end of the FY20 however in the current year the Charity received financial support from the local authority to cover these increases and the Charity is now being supplied with free PPE from the Government which has eliminated the additional costs.

The support received has greatly improved the trust's financial position. It has offset the lost income and has provided the trust with financial stability in these difficult times. We cannot predict how long the COVID-19 pandemic will effect us but we feel confident that we have done everything we can to protect our clients and support our staff.

b. Financial review

This year's financial statements have been dominated by the effects of COVID-19. Some of the effects are quantifiable and others are not.

Any clients who would have moved into the charities properties in the year were postponed as the risk of them bringing COVID-19 into the property was too high. This resulted in lost turnover of at least £60,000. All the trusts domiciliary social hours were stopped due to lock down, this resulted in lost income of £18,000. The local authority closed its day services in lockdown, the trust had to provide extra support to its clients as a result which created additional turnover of £38,000. During the year the charity claimed £80,836 under the Coronavirus Job Retention Scheme. The charity also received a number of payments and grants from the local authority totalling £87,797 to cover the additional costs caused by the pandemic. These payments and grants were used for PPE, infection control, the costs involved with COVID-19 testing and to pay staff their full wages whilst having to self-isolate. The charity was also able to receive free PPE from the government during the year. All this additional funding has enabled the charity to end the year in a finically stable position.

The charity has made a surplus in the year of £89,477 this year, compared to last year’s loss of £113,118. Without COVID19 we believe our income from charitable activities would have been significantly higher and our staff costs would have been slightly lower.

Net assets have increased to £2,202,423 from £2,112,946 in 2020 due to the surplus for the year.

Page 4

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2021

c. Principal risks and uncertainties

The Trustees have a risk management strategy that comprises a quarterly review of the risk matrix to identify and update current risks and the establishment of policies, systems and procedures to mitigate those risks.

The risk matrix covers financial, governance and operational risks in particular, and it has controls in place to minimise all known risks.

The main risks facing the charity are the lack of new business coming into the charity, the financial constraints placed on the local authority’s social care budget, and COVID-19.

COVID-19 has impacted the trust over the past year. Most of the impacts surrounding COVID-19 such as PPE, testing and isolation are now part of our new way. We believe these measures will be with us for some time to come.

d. Reserves policy

The Trustees have set a free reserves policy of maintaining free reserves to provide working capital equivalent of three months' running costs for residential care, management and governance. At present, this amounts to £460,000. The Trustees think this is a prudent approach in view of the Charity’s dedication to its beneficiaries. The Trust did not meet its reserves target at the year end, but it plans to rectify this is in the coming year.

Total reserves at the year-end were £2,202,423 (2020: £2,112,946), including reserves locked up in fixed assets totalling £2,354,011 (2020: £2,448,994).

Structure, governance and management

a. Constitution

The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 18/03/1958.

The Charity is a registered charity number 0527036, company number 0600800. The registered office is Redcourt, Hollincross Lane, Glossop, Derbyshire, SK13 8JH.

b. Methods of appointment or election of Trustees

Membership of the Charity is open to anyone wishing to contribute to the work of the organisation. Prospective Trustees are invited to attend the Management Committee for a probationary period before being formally invited for election at an AGM.

c. Policies adopted for the induction and training of Trustees

The Charity has assembled an information pack for Trustees. This contains details of the structure of, and post holders within, the establishment as well as copies of Charity Commission publications on the role of Trustees. Support for new Trustees is provided on request by the Chair.

Page 5

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2021

Structure, governance and management (continued)

d. Organisational structure and decision making

The Charity is governed by a Council called The Management Committee. Four serving members of the Management Committee were elected at the last AGM. The Management Committee meets monthly with the Senior Management Team to review the Charity's performance and plan its future activities.

Council members act as Trustees and have the powers and obligations of company directors under the Companies Act 2006. No Trustee is entitled to or paid any remuneration, although they are entitled to reclaim expenses. During the year, two Trustees reclaimed travel expenses totalling £Nil (2020: £976). The Charity also purchased insurance to protect it from any loss which might arise from neglect or any default of its senior staff or Trustees and to indemnify the Trustees against the consequences of loss or default on their part.

e. Related party relationships

There were no related party transactions during this year (2020: £976).

f. Risk management

The Board has an established arrangement for the systematic assessment and periodic review of the risks facing the organisation, with appropriate measures being taken to prioritise, manage and minimise risks identified. In particular, it has considered financial, governance and operational risks and controls are in place to minimise all known risks.

Future developments

The charity's plan for the coming year was to continue looking for new clients to fill the newly refurbished care home, to promote its services and look for new clients and to fill vacancies in its social housing. The risks posed by COVID-19 in the community and the care home are likely to continue to impact this.

The Charity’s focus for the year to March 2022 is to keep its clients safe and well. COVID-19 has put a lot of pressure on the care staff as they have tried their best to protect the clients and keep them safe. We cannot thank the staff enough for this commitment and dedication so far this year.

Page 6

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2021

Statement of Trustees' responsibilities

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

Company law requires the Trustees to prepare financial statements for each financial year. 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

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

Auditors

The auditors, Hurst Accountants Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

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

A D WILKINSON

. ~~..............................................~~ Anthony Wilkinson (Sep 25, 2021, . Mr Anthony Wilkinson 9:51am) Chairman

Date: 25 Sep 2021

Page 7

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

Independent Auditors' Report to the Members of St Christopher's (Glossop) Limited

Opinion

We have audited the financial statements of St Christopher's (Glossop) Limited (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the 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:

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 Auditors' 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Page 8

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of St Christopher's (Glossop) Limited (continued)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of 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 Trustees' 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:

Page 9

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of St Christopher's (Glossop) Limited (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.

Page 10

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of St Christopher's (Glossop) Limited (continued)

Auditors' 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 Auditors' 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, inclduing 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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

Page 11

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of St Christopher's (Glossop) Limited (continued)

We have also considered the risk of fraud through management override of controls by:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

HABesantRoberts

Helen Besant Roberts (Sep 27, 2021, Helen Besant-Roberts (Senior Statutory Auditor) 3:38pm)

for and on behalf of

Hurst Accountants Limited

Chartered Accountants & Statutory Auditors Lancashire Gate 21 Tiviot Dale Stockport Cheshire SK1 1TD

Date: 27 Sep 2021

Page 12

St Christopher's (Glossop) Limited

(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
3
Charitable activities
4
Other trading activities
5
Other income
6
Total income
Expenditure on:
Governance costs
Charitable activities
7
Total expenditure
Net movement in funds before other
recognised gains
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Unrestricted
funds
2021
£
54,781
1,885,766
32
74
1,940,653
23,410
1,946,210
1,969,620
(28,967)
2,112,946
(28,967)
2,083,979
Restricted
funds
2021
£
118,444
-
-
-
118,444
-
-
-
118,444
-
118,444
118,444
Total
funds
2021
£
173,225
1,885,766
32
74
2,059,097
23,410
1,946,210
1,969,620
89,477
2,112,946
89,477
2,202,423
Total
funds
2020
£
7,910
1,741,439
2,253
128
1,751,730
21,634
1,843,214
1,864,848
(113,118)
2,226,064
(113,118)
2,112,946

The notes on pages 16 to 31 form part of these financial statements.

Page 13

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee) Registered number: 0600800

Balance Sheet as at 31 March 2021

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
20
Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
14
Total net assets
Charity funds
Restricted funds
16
Unrestricted funds
16
Total funds
127,395
373,790
501,185
(251,526)
2021
£
2,354,011
249,659
2,603,670
(401,247)
2,202,423
118,444
2,083,979
2,202,423
121,521
216,163
337,684
(241,988)
2020
£
2,448,994
95,696
2,544,690
(431,744)
2,112,946
-
2,112,946
2,112,946

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

A D WILKINSON

................................................ Anthony Wilkinson (Sep 25, 2021,

9:51am) Mr Anthony Wilkinson Chairman

Date: 25 Sep 2021

The notes on pages 16 to 31 form part of these financial statements.

Page 14

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Statement of Cash Flows for the year ended 31 March 2021

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
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
20
2021
£
192,231
(6,548)
(6,548)
(28,056)
(28,056)
157,627
216,163
373,790
2020
£
(79,494)
(50,894)
(50,894)
(25,771)
(25,771)
(156,159)
372,322
216,163

The notes on pages 16 to 31 form part of these financial statements

Page 15

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

St Christopher's (Glossop) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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.

At the start of 2020, the globe entered a period of uncertainty and concern with the outbreak of the COVID-19 pandemic. Following the UK Government's lockdown announcement on 23 March 2020, all non-essential businesses were forced to close and restrctions were implemented for care homes. During this period, the Charity utilised the support provided by the Government including the Coronavirus Job Retention Scheme to offset payroll costs.

As a result of the pandemic, staff costs and Personal Protective Equipment (PPE) costs increased towards the end of the FY20 however in the current year the Charity received financial support from the local authority to cover these increases and the Charity is now being supplied with free PPE from the Government which has eliminated the additional costs.

The support received has greatly improved the trust's financial position. It has offset the lost income and has provided the trust with financial stability in these difficult times. We cannot predict how long the COVID-19 pandemic will effect us but we feel confident that we have done everything we can to protect our clients and support our staff.

Page 16

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

1. Accounting policies (continued)

1.3 Income

Residential

Residential income is recognised on a monthly basis for each resident in occupancy in a given month. Alternations arising from rate increases are taken into account when they occur.

Domiciliary

Domiciliary income is recognised on a contractual basis, based on the number of chargeable hours at a predetermined hourly rate. Alternations arising from rate increases are taken into account when they occur.

Tenancy

Tenancy income is recognised on a time apportioned basis over the length of the tenancy agreements.

Grants

Grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 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 proportion 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.

1.5 Government grants

Government grants of £129,553 (2020: £5,407) are credited to the Statement of Financial Activities as the related expenditure is incurred. The Government grant incurred is in relation to the Coronavirus Job Retention Scheme and Local authority grants to cover increased costs relating to infection control, rapid testing and workforce capacity.

Page 17

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

1. Accounting policies (continued)

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold property - Over 15 years or 50 years straight line
Long-term leasehold property - Over 50 years straight line
Leasehold improvements - Over 6 years straight line
Office equipment - Over 3 years straight line
Computer equipment - Over 3 years straight line

Management reviewed the useful economic lives of the refurbished freehold property and determined that is should be depreciated over 15 years, to its residual value, as they believe this better reflects the useful economic life of the prior year refurbishment.

1.7 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.

1.8 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.

Page 18

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

1. Accounting policies (continued)

1.9 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.

1.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

1.11 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.

Page 19

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

2. Critical accounting estimates and areas of judgement

Estimates and judgements 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 estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement:

Accruals and deferred income

Accruals and deferred income are entered in the financial statements based on management expectations, taking into account various factors relevant to each individual item. The Charity recognised accruals and deferred income at 31 March 2021 of £33,336 (2020: £41,089).

Depreciation

The charity exercises judgement in estimating the useful economic life of leasehold improvements, motor vehicles and fixtures and fittings.

3. Income from donations and legacies

Donations
Grants
Total 2020
Unrestricted
funds
2021
£
4,591
50,190
54,781
7,910
Restricted
funds
2021
£
-
118,444
118,444
-
Total
funds
2021
£
4,591
168,634
173,225
7,910
Total
funds
2020
£
2,863
5,047
7,910

Page 20

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

4. Income from charitable activities

Residential
Domiciliary
Tenancy
Total 2020
5.
Income from other trading activities
Income from fundraising events
Fundraising
Total 2020
6.
Other incoming resources
Other income
Total 2020
Unrestricted
funds
2021
£
550,098
1,198,737
136,931
1,885,766
1,741,439
Unrestricted
funds
2021
£
32
2,253
Unrestricted
funds
2021
£
74
128
Total
funds
2021
£
550,098
1,198,737
136,931
1,885,766
1,741,439
Total
funds
2021
£
32
2,253
Total
funds
2021
£
74
128
Total
funds
2020
£
446,599
1,165,949
128,891
1,741,439
Total
funds
2020
£
2,253
Total
funds
2020
£
128

Page 21

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

7. Analysis of expenditure on charitable activities

Summary by fund type

Residential
Domiciliary
Tenancy
Total 2020
Unrestricted
funds
2021
£
646,243
1,201,977
97,990
1,946,210
1,843,214
Total
funds
2021
£
646,243
1,201,977
97,990
1,946,210
1,843,214
Total
funds
2020
£
631,854
1,082,863
128,497
1,843,214

Summary by expenditure type

Residential
Domiciliary
Tenancy
Total 2020
Staff costs
2021
£
488,902
1,110,861
54,740
1,654,503
1,499,300
Depreciation
2021
£
61,933
3,046
36,552
101,531
118,754
Other costs
2021
£
95,408
88,070
6,698
190,176
225,160
Total
funds
2021
£
646,243
1,201,977
97,990
1,946,210
1,843,214
Total
funds
2020
£
631,854
1,082,863
128,497
1,843,214

Page 22

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

8. Analysis of expenditure by activities

Residential
Domiciliary
Tenancy
Total 2020
Activities
undertaken
directly
2021
£
646,243
1,201,977
97,990
1,946,210
1,843,214
Total
funds
2021
£
646,243
1,201,977
97,990
1,946,210
1,843,214
Total
funds
2020
£
631,854
1,082,863
128,497
1,843,214

9. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £6,600 ( 2020 - £6,720 ).

10. Staff costs

Wages and salaries
Social security costs
Other pension costs
2021
£
1,508,368
115,572
30,563
1,654,503
2020
£
1,376,173
94,873
28,254
1,499,300

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

2021 2020
No. No.
Employees 81 89

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

Key management personnel are considered to be the Trustees of the Charity and the senior management team and they received remuneration of £149,130 (2020: £129,931).

Page 23

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

11.

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
£
1,795,335
950
1,796,285
215,966
80,526
296,492
1,499,793
1,579,369
Long-term
leasehold
property
£
1,081,997
-
1,081,997
230,129
6,059
236,188
845,809
851,868
Motor
vehicles
£
17,583
-
17,583
16,840
743
17,583
-
743
Fixtures and
fittings
£
154,746
5,598
160,344
137,732
14,203
151,935
8,409
17,014
Total
£
3,049,661
6,548
3,056,209
600,667
101,531
702,198
2,354,011
2,448,994

Included in freehold property is freehold land at cost £44,254 (2020: £44,254), which is not depreciated.

12. Debtors

Trade debtors
Other debtors
Prepayments and accrued income
2021
£
95,322
21,393
10,680
127,395
2020
£
84,132
27,493
9,896
121,521

Page 24

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

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

13. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
2021
£
30,177
14,925
58,527
114,561
33,336
251,526
2020
£
27,736
22,061
45,485
105,617
41,089
241,988

The bank loan is secured by means of a fixed and floating charge over the Charity's assets including 16 Hollincross Lane, 20 Hollincross Lane, 18 Hillside Close and 76 Green Lane, Glossop, Derbyshire.

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

Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years
Bank loans
2021
£
401,247
2021
£
29,806
95,162
276,279
2020
£
431,744
2020
£
27,831
90,027
313,886

Page 25

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

14. Creditors: Amounts falling due after more than one year (continued)

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

2021 2020
£ £
Repayable by instalments 313,886 345,025

The bank loan is secured by means of a fixed and floating charge over the Charity's assets including 16 Hollincross Lane, 20 Hollincross Lane, 18 Hillside Close and 76 Green Lane, Glossop, Derbyshire.

15. Accruals and deferred income

Deferred income at 1 April 2020
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 March 2021
2021
£
-
8,600
-
8,600
2020
£
14,530
-
(14,530)
-

Deferred income relates to domiciliary income received in advance.

Page 26

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

16. Statement of funds

Statement of funds - current year
General funds
General Funds
Restricted funds
Coronavirus Job Retention Scheme
Adult Social Care Infection Control
Rapid Testing Fund
Workforce Capacity Fund
Total of funds
Balance at 1
April 2020
£
2,112,946
-
-
-
-
-
2,112,946
Income
£
1,940,653
80,836
31,501
3,550
2,557
118,444
2,059,097
Expenditure
£
(1,969,620)
-
-
-
-
-
(1,969,620)
Balance at 31
March 2021
£
2,083,979
80,836
31,501
3,550
2,557
118,444
2,202,423

Page 27

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

16.
Statement of funds (continued)
Statement of funds - prior year
General Funds
Restricted funds
Restricted Funds
Total of funds
Balance at
1 April 2019
£
2,221,064
5,000
2,226,064
Income
£
1,751,730
-
1,751,730
Expenditure
£
(1,864,848)
-
(1,864,848)
Transfers
in/out
£
5,000
(5,000)
-
Balance at
31 March
2020
£
2,112,946
-
2,112,946

Restricted funds are funds that have been provided in support of specific projects. The Charity holds sufficient sersources to enable each fund to be applied in accordance with the restriction and can be itemised as follows:

Coronavirus Job Retention Scheme: government wage support measure as a result of the COVID-19 pandemic.

Adult Social Care Infection Control: specific government grant to support wages and salaries staff in community care settings who are isolating in line with the government guidance.

Rapid Testing Fund: specifc government grant to support rapid testing in care homes.

Workforce Capacity Fund: specific government grant to support measures that deliver additional staffin capacity to address COVID-related workforce supply issues.

17. Summary of funds

Summary of funds - current year

General funds
Restricted funds
Balance at 1
April 2020
£
2,112,946
-
2,112,946
Income
£
1,940,653
118,444
2,059,097
Expenditure
£
(1,969,620)
-
(1,969,620)
Balance at 31
March 2021
£
2,083,979
118,444
2,202,423

Page 28

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

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

17. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds
Balance at
1 April 2019
£
2,221,064
5,000
2,226,064
Income
£
1,751,730
-
1,751,730
Expenditure
£
(1,864,848)
-
(1,864,848)
Transfers
in/out
£
5,000
(5,000)
-
Balance at
31 March
2020
£
2,112,946
-
2,112,946

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total
Unrestricted
funds
2021
£
2,354,011
382,741
(251,526)
(401,247)
2,083,979
Restricted
funds
2021
£
-
118,444
-
-
118,444
Total
funds
2021
£
2,354,011
501,185
(251,526)
(401,247)
2,202,423

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total
Unrestricted
funds
2020
£
2,448,994
337,684
(241,988)
(431,744)
2,112,946
Total
funds
2020
£
2,448,994
337,684
(241,988)
(431,744)
2,112,946

Page 29

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

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

19. 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
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
21.
Analysis of changes in net debt
At 1 April
2020
£
Cash at bank and in hand
216,163
Debt due within 1 year
(27,736)
Debt due after 1 year
(431,744)
(243,317)
2021
£
89,477
101,531
(5,874)
7,097
192,231
2021
£
373,790
373,790
Cash flows
£
157,627
(2,441)
30,497
185,683
2020
£
(113,118)
118,755
(79,800)
(5,331)
(79,494)
2020
£
216,163
216,163
At 31 March
2021
£
373,790
(30,177)
(401,247)
(57,634)

Page 30

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

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

22. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity from unrestricted funds to the pension fund and amounted to £30,563 (2020 - £28,254). Contributions totalling £5,973 (2020 - £5,247) were payable to the fund at the balance sheet date and are included in creditors.

23. Operating lease commitments

At 31 March 2021 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
2021
£
5,748
19,533
25,281
2020
£
2,580
7,740
10,320

24. Related party transactions

During the year, two trustees received reimbursement of mileage expenses of £Nil (2020: £976). There was no other related party transactions.

Key management personnel remuneration can be found in note 10.

Page 31

Issuer

HURST Accountants

Document generated Fri, 24th Sep 2021 13:54:12 BST

Document fingerprint 52efa858ced6bfbe960e452721117db3

Parties involved with this document

Document processed

Party + Fingerprint

Sat, 25th Sep 2021 9:51:10 BST Mon, 27th Sep 2021 15:38:00 BST Mon, 27th Sep 2021 15:38:00 BST

Anthony Wilkinson - Signer (71d167c81909f0124270be8889d5d2f0) Helen Besant Roberts - Signer (fc3cd1ce0b6f97b70ad5d31618d7a07b) Joanne flynn - Copied In (b6590da68e72a81dddc8aea6f7c4506c)

Audit history log

Date

Action

Mon, 27th Sep 2021 15:38:00 BST Mon, 27th Sep 2021 15:38:00 BST

Mon, 27th Sep 2021 15:38:00 BST Mon, 27th Sep 2021 15:37:54 BST Mon, 27th Sep 2021 15:37:51 BST Mon, 27th Sep 2021 15:37:12 BST Sat, 25th Sep 2021 9:51:10 BST Sat, 25th Sep 2021 9:51:10 BST

Sat, 25th Sep 2021 9:51:10 BST Sat, 25th Sep 2021 9:47:55 BST Sat, 25th Sep 2021 9:43:45 BST Fri, 24th Sep 2021 13:57:26 BST Fri, 24th Sep 2021 13:57:22 BST

Fri, 24th Sep 2021 13:55:16 BST Fri, 24th Sep 2021 13:55:16 BST Fri, 24th Sep 2021 13:55:16 BST

The envelope has been signed by all parties. (82.30.251.26) Sent a copy of the envelope to Joanne flynn (joanne.flynn@hurst.co.uk). (82.30.251.26) Helen Besant Roberts signed the envelope. (82.30.251.26) Helen Besant Roberts viewed the envelope. (40.94.100.64) Helen Besant Roberts viewed the envelope. (40.94.100.97) Helen Besant Roberts viewed the envelope. (82.30.251.26) Document emailed to hbr@hurst.co.uk (3.8.186.87) Sent the envelope to Helen Besant Roberts (hbr@hurst.co.uk) for signing. (188.30.108.52) Anthony Wilkinson signed the envelope. (188.30.108.52) Anthony Wilkinson viewed the envelope. (188.30.108.52) Anthony Wilkinson viewed the envelope. (188.30.108.52) Document emailed to tony@tonyonthenarrowboat.co.uk (18.132.209.90) Sent the envelope to Anthony Wilkinson (tony@tonyonthenarrowboat.co.uk) for signing. (80.192.23.32) Joanne flynn has been assigned to this envelope (80.192.23.32) Helen Besant Roberts has been assigned to this envelope (80.192.23.32) Anthony Wilkinson has been assigned to this envelope (80.192.23.32)

Fri, 24th Sep 2021 13:54:39 BST Document generated with fingerprint 5620fdd8189ebf9d00a44ae44cf87730 (80.192.23.32) Fri, 24th Sep 2021 13:54:31 BST Document generated with fingerprint 5ff8a48a632b3e558e899f467bf1c4ee (80.192.23.32) Fri, 24th Sep 2021 13:54:20 BST Document generated with fingerprint 52efa858ced6bfbe960e452721117db3 (80.192.23.32) Fri, 24th Sep 2021 13:54:12 BST Envelope generated by Katie Waud (80.192.23.32)