DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
Company Number: 2348350 Charity Number: 801122
THE ORCHARD TRUST (Limited by Guarantee)
FINANCIAL STATEMENTS
For the Year Ended 31 March 2022
DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
C O N T E N T S
| Page | |
|---|---|
| OFFICERS AND ADVISORS | 1 |
| CHAIRMAN’S REPORT | 2 |
| REPORT OF THE TRUSTEES | 3 - 8 |
| INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS | 9 - 11 |
| STATEMENT OF FINANCIAL ACTIVITIES | 12 - 13 |
| BALANCE SHEET | 14 |
| STATEMENT OF CHANGES IN EQUITY | 15 |
| STATEMENT OF CASH FLOWS | 16 |
| NOTES TO THE FINANCIAL STATEMENTS | 17 - 27 |
DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Mr N Budd |
|---|---|
| Mr B Kaye | |
| Mrs J Morris Kaye | |
| Mrs S Henchley | |
| Mr R Morgan | |
| Mrs R Dodsworth | |
| Mrs C Smart | |
| Mrs E Hewison | |
| Mr C Lloyd | |
| Mrs E C Bell | |
| Chief Executive Officer | Mrs C Andrews |
| Registered and Administrative Office | The Orchards |
| Lydbrook Valley Springs | |
| Central Lydbrook | |
| Lydbrook | |
| Gloucestershire | |
| GL17 9PP | |
| Auditors | Hazlewoods LLP |
| Windsor House | |
| Bayshill Road | |
| Cheltenham | |
| GL50 3AT | |
| Solicitors | Harrison Clark Rickerbys |
| Ellenborough House | |
| Wellington Street | |
| Cheltenham | |
| GL50 1YD | |
| Bankers | Lloyds TSB |
| 19 Eastgate Street | |
| Gloucester | |
| GL1 1NU | |
| Company Number | 2348350 (England and Wales) |
| Charity Number | 801122 |
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Once again we report a year of opportunities dashed as covid made face to face activities challenging, and the role of the staff in the Homes particularly difficult. One by one the Homes were forced to go into lockdown as covid took its toll, and available staff numbers went down. The dedication of staff has been wonderful, and the Trustees thank them profusely for doing extra hours and making sure that our people were safe during such difficult times.
The fundraising team has again been very successful in applying for grants and donations. The opening of the new pool was the highlight, enabled by grants of thousands of pounds. A further grant has enabled us to appoint a Community Liaison Officer, who is doing sterling work promoting the Trust and the Stowfield site in particular, and liaising with organisations throughout Gloucestershire. In all, the Fundraising team have raised over £81,000 this year. A splendid result!
Sadly, it was again decided that the Summer Fair would be virtual, in order to keep our people safe. However, a good sum of £1,600 was raised. This was used for “extras” for the people we support, including a favourite of mine, iPads to aid communication.
We were delighted when, in November, Liz Bell applied to become a trustee. She is proving to be a very valuable addition to the board, full of knowledge and spontaneous in offering her practical help.
We continue to have good, positive relationships with the local authorities who are involved with our clients. We are confident that we provide excellent care, and opportunities for our clients to develop at our Day Centre, smallholding and in the pool and rebound rooms. We look forward to providing more excellent care and facilities for them for the foreseeable future.
Sue Henchley Chairman of Trustees The Orchard Trust
Date: 22/11/2022
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their report together with the audited financial statements (“accounts”) of the company for the year ended 31 March 2022.
PURPOSE AND IMPACT
The Orchard Trust (referred to as the Trust from now on) was established in 1989 by a group of parents who were looking to improve care options for their children and others with learning disabilities. Having grown over the past 30 years the Trust provides residential care, supported living homes, short break (respite) beds, rebound therapy, hydropool therapy and day services based on a working smallholding which is open to all who may wish to benefit from the services.
To see more about our homes and facilities please visit our website: www.orchard-trust.org.uk
Philosophy of the Orchard Trust
Orchard Trust believes people with disabilities have the same rights as any other individual and support each to enjoy the services and opportunities available to any other member of the community.
Values
Kindness - We treat others and ourselves with gentleness, warmth and care, focusing on the little things that really matter.
Respect - We look after ourselves, each other, our places and the environment.
Individuality - We recognise one another for the people we are, understanding and accepting preferences and beliefs to ensure personalised care and support.
Working together - We believe the best results are gained through working as a team, valuing suggestions and encouraging new ideas as we strive to continuously improve the care we provide .
The Trust’s values reflect the intrinsic behaviours of staff within the organisation and daily decisions are enhanced by the ongoing focus provided by the values.
Objectives (Mission)
We are a consistent and long-term place for life for people with disabilities, with a warm and friendly environment where each individual is supported to realise their ambitions.
Activities
Our mission is achieved by working towards the following aims:
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Consistently look for innovation and fresh ideas to improve the care we provide
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Ensuring each staff member has the skills and attributes of our values through effective recruitment, ongoing support, development and shared vision.
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Building financial resilience through diversification of income, internal efficiencies and the provision of added value through alternative funding
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Expanding the reach of our day services site to benefit the wider community
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THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Achievements and Performance
The key achievements of the Trust against its activities and thus its objectives during the 2021/22 financial year are as follows:
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Staff and management worked incredibly hard and very long hours to ensure clients and each other were kept safe through the ongoing pandemic and staff shortages.
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Through the year covid led to outbreaks within all services leading to low staffing levels with managers and CEO working shifts to support clients.
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One tenant moved out of Kimberley Drive having chosen to return to live with their family, and in July we welcomed a new tenant to the home who settled in happily. There are no current vacancies in the homes or supported living.
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Temporary closure of the respite bed in Hilltop for much of the year, as required by covid guidance, led to a shortfall in income of approximately £60,000. The families who use respite were offered support by Hilltop’s management and discussions regarding covid infection control procedures were had to ensure a bed would be available to any family if the need arose.
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Reopening of Day Services has led to a significant increase in the number of users and visitors.
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Refurbishment of the hydro pool and significant changes to the internal layout of the building has been a great success with the pool reopening in February 2022.
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Quality assurance was maintained throughout the pandemic and home lockdowns through a mix of virtual and in person visits by the head of Support and operations. Although there were challenges in the early days these ‘visits’ proved valuable to evidence quality and to support those working in the homes.
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Providing and maintaining training to staff also proved challenging and was successfully overcome through the development of virtual training hubs within the homes and investment in hybrid IT equipment. This allowed minimum training levels to be maintained throughout the pandemic.
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Development continued at the Trust, a ground floor wet room extension was added to Orchards 2 and the kitchen was refurbished making the space more accessible to all.
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Funding was received for a Changing Place bathroom facility at the Stowfield site, if planning is granted this will be installed in winter 2022.
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Implementation of care Control, a paperless care planning system and medical administration record (eMAR), across the majority of services, saving staff and management significant time and improves auditing processes.
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The Trust gratefully received unrestricted grants to support its activities and cover expenses following income loss throughout the pandemic, other restricted grants were released by the funder to allow us to support our objectives and maintain service levels.
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The Trust also wishes to thank Gloucestershire County Council and the central government for their financial support through the pandemic so far.
VALUES AND WAYS OF WORKING
The Trust is deeply committed to providing high quality and positive-risk based care. To support sharing of learning and best practice the Trust has many internal committees to provide effective two-way feedback between all services and management. These include:
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Client Group (Trust our Voice)
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• Parent Support Group (Carers & Sharers)
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Staff Communication Group (Comms)
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Health & Safety Staff Reps - with Trustee representation
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Action Based Management (ABM)
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Friends of Orchard Trust
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Trustee buddy scheme across all services in the Trust
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Trustee Sub-Committees - Finance, Investment, Remuneration, Safeguarding
Due to covid restrictions many of these groups have met virtually and more frequently to ensure easy sharing of updates to guidance and risk assessments. Sadly, Trust our Voice has not adapted well to virtual meetings and this group has not met for many months. Once it is safe to do so the group will restart face to face. Carers and sharers have also adapted the way they interact and a circle of support was set up between families to maintain contact through the covid period.
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THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Ensuring our work delivers our mission
The Trust ensures all actions contribute to achieving its mission through regular monitoring of performance by CQC and local authority monitoring visits, external expert by experience quality visits, family and staff questionnaires, Trustee buddy visits, senior manager and peer visits along with an internal ‘mum’ test. The board has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when determining how our current and future activities meet the Trust’s objectives.
Staff Pay Award
Although fee uplifts effective from April 2020 received from Local Authorities and Clinical Commissioning Groups did not cover the full impact of the increase in national Living Wage the Trust chose to invest in its staff teams by providing all staff a pay increase along with increasing the differential between care worker and team leader, reflecting the increased responsibilities required of the leader role. A pay progression route allows opportunity for salary increases through qualifications and length of service and support the Trusts aim to ensure each staff member has the skills and attributes of our values through effective recruitment, ongoing support, and training and shared vision. The Trust is delighted to continue to pay all staff above the National Living Wage reflecting the importance of the tasks they are doing and the gratitude the Trust has for their commitment and continuous hard work.
OPERATING MODEL AND RISKS
Risk
Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are regularly reviewed to ensure they meet the needs of the charity.
Principal identified risks
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Service delivery – internal and external quality controls minimise risks in this area with internal quality control process reviewed and updated to reflect the regularly changing best practice guidelines provided by authorities within the care sector.
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Recruitment – The challenge of recruiting new staff with the values and attributes required by the Trust to support clients is increasingly difficult, however these standards are vital to the wellbeing of individuals so new methods of advertising and recruiting are continually explored.
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Changes to Local Authority funding and/or commissioning models – Trust staff work closely with partners in local authorities to ensure client packages reflect true costs of care and individual need. Senior staff are active within local authority market shaping workshops and Anthony Jeffers continues to maintain board position within the Gloucestershire Care Providers Association.
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Regional and National policy changes - Cathy Andrews sits on the ADASS South West Stakeholder Forum and the South West Regional Stakeholder Network for the Disability Unit in Cabinet Office both feed information into and influence change at regional, national and governmental levels. Alongside this Cathy’s position on the Skills for Care Workforce Board supports the development of training and conditions for todays and future social care workers.
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Regulatory and Legislative changes - The Trust seeks to remain up to date with all changes through subscription to CQC, Skills for Care, HSE and other email updates along with face to face and social media peer networking. We consider and respond to the continued development of legislation and changes regulations through discussion and regular reviewing of internal procedures.
It was decided during the year to liquidate Independent Training and Development Ltd due to the financial impact of covid lockdowns and the shift towards virtual training within the Social Care sector. The business was liquidated on 22nd July 2021.
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THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Reserve Policy
The majority of the Trust’s income is received through local authority contracts for the specific care of an individual. Any surplus is used to ensure the Trust’s on-going sustainability and to improve the care environment.
All charities are required to consider the level of reserves they need to hold to cover both development opportunities and as resilience against unforeseen events. Additional cash reserves are considered by the Trustees to be essential to protect the activities of the Trust. In line with the general guidance provided by the Charity Commissioners and an understanding of the organisational risks, the Trustees calculate the unrestricted reserves held to be a minimum of six months expenditure with the aim to increase this to the 12-month figure. These amounts have increased from previous years following consideration of future Local Authority funding challenges and further uncertainties during the ongoing pandemic and increasing costs.
Currently, the maintained unrestricted reserves not committed or invested in tangible fixed assets (Residential Development Fund) is at £900,000. Any reserves over that sum could be allocated for future development, pending a suitable opportunity. The net asset value of the Trust is sufficient to release substantial funds in the event of a catastrophe.
GOVERNANCE AND DECISION MAKING
Orchard Trust
The Trustees in office in the year are detailed on page 1 of this report along with the names and addresses of relevant organisations providing banking services or professional advice to the Charity and its subsidiary.
The company does not have share capital, being limited by a guarantee of £1 from each of the Trustees. The Trustees act as Directors for company purposes.
The company is governed by its Memorandum and Articles of Association.
The Trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement.
At the year end the Board of Trustees comprised 10 Trustees, who are also Directors of The Orchard Trust for the purposes of company law. Operational responsibility lies with the Trust’s Senior Management team of Cathy Andrews, C.E.O.; Anthony Jeffers, Head of Support & Operations; and Kelly Ryder, Finance Manager.
The Trust holds six full board meetings per year, plus a minimum of three finance committee meetings, two investment committee meetings and three safeguarding committee meetings. Trustees also have representation on the health and safety committee and each service has a Trustee buddy who regularly visits the service to learn more about that service's specific challenges and thus bring greater knowledge to the board room.
Trustee Appointment and Training
Trustees are appointed by election to the Board. On induction, new Trustees are given a tour of the Trust's sites, meet key employees and are introduced to the other Trustees. Trustees are briefed on their legal obligations under charity and company law, as well as the aims and activities of the Trust and its recent financial performance. Trustees are encouraged to attend external training events where these facilitate the undertaking of their role.
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THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2022
Review of the accounts
The accounts follow a similar format to those of the preceding year in compliance with the accounting rules under SORP 2015.
The "Statement of Financial Activities" on page 12-13 shows the movements on all funds of the Trust, with the Balance Sheet on page 14. A Cash Flow Statement has again been included in the accounts on page 16. As in previous years, the report contains a Risk Analysis.
Borrowings
The Trust has borrowed no money during this period.
At the balance sheet date, cash reserves were higher than last year at £1,681,824. Total reserves increased from £6,054,574 to £6,391,667.
Investment Powers
Under the Memorandum and Articles of Association, the company has the power to make any investment which the Trustees see fit.
Financial Review
The full accounts of the Trust are included on pages 12-27. Cash balances at the year-end of £1,681,824 reflected careful management of the Trusts resources during financially challenging times.
Acquisitions and Disposals
There have been no substantial acquisitions or disposals during the period.
Statement of Trustees’ Responsibilities
The Trustees (who are also directors of The Orchard Trust Limited for the purposes of company law), are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Acknowledgements
We acknowledge HR support and guidance from WorkNest and PIB Insurance Brokers for dealing accordingly with our HR and insurance needs.
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THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2022
Statement of Disclosure to Auditor
In accordance with company law, as the Company's Directors, the Trustees have taken the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. The Trustees confirm that there is no relevant information that they know of, and which they know the auditors are unaware of.
Fixed Assets
The Company re-valued its properties in March 2015. This revaluation, which has been reflected in these financial statements, is based on the open market valuation for existing use of £4,630,000, which is the basis required by UK Financial Reporting Standards. The valuation of the properties at the same date, on the assumption that they were fully operational and equipped having regard to trading potential, was £4,630,000.
Third Party Indemnity Insurance
The company incurred an annual premium of £1,382 to DE Ford Limited in relation to Trustee Indemnity Insurance.
Auditors
Hazlewoods LLP were reappointed as auditors in the year and have expressed their willingness to continue in office.
Signed by order of the Board of Trustees
Sue Henchley Chairman of Trustees The Orchard Trust Date: 22/11/2022
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THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Opinion
We have audited the financial statements of The Orchard Trust for the year ended 31 March 2022, which comprise the Charity Statement of Financial Activities, the Charity Balance Sheet, the Charity Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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:
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the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
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 auditor’s 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.
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THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
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the charitable company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustee’s responsibilities statement set out on page 7, the trustees 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 directors 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 directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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 auditor's report.
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THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Extent to which the auditor was considered capable of detecting irregularities, including fraud
Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planning and performed in accordance with the ISA’s (UK).
In identifying and assessing risks of material misstatement in respect of fraud, including irregularities and noncompliance with laws and regulations our procedures included the following:
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We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company financial statements or that had a fundamental effect on the charitable company’s operations. We determined that the most significant laws and regulations included UK GAAP, UK Companies Act 2006 and Charities Act 2011.
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We understood how the charitable company is complying with those legal and regulatory frameworks by making inquiries of management, those responsible for legal and compliance procedures.
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We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
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Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
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Understanding how management considered and addressed the potential for override of controls. Detailed analysis of journals posted through the accounting system during the year to 31 March 2022 has been undertaken;
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Understanding the controls in place to prevent and detect fraud. Reliance was not placed on controls for the entirety of the audit, instead taking a substantive testing approach, however controls were in place to prevent fraud and they appeared to be working effectively.
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Challenging assumptions and judgements made by management in its significant accounting estimates.
...................................... Martin Howard (Senior Statutory Auditor) For and on behalf of Hazlewoods LLP, Statutory Auditor
Windsor House Bayshill Road Cheltenham GL50 3AT
22/11/2022 Date:.............................
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted Restricted Total fund fund funds 2022 2022 2022 Note £ £ £ INCOME AND ENDOWMENTS Income and endowments from: Donations and legacies Donations and gifts 20,180 72,362 92,542 Investments Bank interest receivable 319 - 319 Charitable activities Local Authority contracts 4,118,192 - 4,118,192 Other Training income 36,925 - 36,925 Rental income 37,150 - 37,150 Other income - - - Government grants 3,864 230,347 234,211 _ _ _ Total income and endowments 4,216,630 302,709 4,519,339 _ _ _ EXPENDITURE ON Charitable activities 2 (3,949,700) (232,546) (4,182,246) _ _ _ Total expenditure (3,949,700) (232,546) (4,182,246) _ __ _ Net income for the year 14 266,930 70,163 337,093 |
Total funds 2021 £ 131,952 2,933 3,747,831 5,496 39,000 2,376 335,346 _ 4,264,934 _ (4,066,317) _ (4,066,317) _ 198,617 |
|---|---|
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| fund | fund | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| Note | £ | £ | £ | £ | |
| Reconciliation of funds | |||||
| Funds brought forward at | |||||
| 1 April | 6,020,929 | 33,645 | 6,054,574 | 5,855,957 | |
| Transfer between reserves | 92,790 | (92,790) | - | - | |
| Net movement in funds | 266,930 | 70,163 | 337,093 | 198,617 | |
| __ | __ | _ | _ | ||
| Funds carried forward at | |||||
| 31 March | 14 | 6,380,649 | 11,018 |
6,391,667 |
6,054,574 |
| The notes on pages 17 to 26 form part of these financial statements. | |||||
| The Statement of Financial Activities has been prepared on the basis that all operations are continuing operat | |||||
| Note of Historical Cost Income and Expenditure | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Reported net movement in funds | 337,093 | 198,617 | |||
| Difference between historical cost | |||||
| depreciation and the actual depreciation | |||||
| charge of the year calculated on the revalued | |||||
| amount | 14,628 | 13,499 | |||
| __ | __ | ||||
| Historical cost net movement in funds | 351,721 | 212,116 |
The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) BALANCE SHEET AS AT 31 MARCH 2022
Company Number: 2348350
| Note £ Fixed assets Tangible assets 6 Investments 7 Current assets Stock 8 1,440 Debtors 9 227,300 Cash at bank and in hand 1,681,824 _ 1,910,564 Creditors: Amounts falling due within one year 10 (247,750) _ Net current assets Total assets less current liabilities Funds Restricted income funds 12,13,14 Unrestricted income funds: 13,14 Operational general fund Property revaluation reserve Designated funds |
__ |
2022 £ £ 4,727,923 930 _ 4,728,853 1,440 284,779 1,285,820 _ 1,572,039 (187,900) _ 1,662,814 _ 6,391,667 11,018 4,516,376 964,273 900,000 __ 6,391,667 |
2021 £ 4,669,504 931 _ 4,670,435 1,384,139 _ 6,054,574 33,645 4,142,028 978,901 900,000 ___ 6,054,574 |
|---|---|---|---|
22/11/2022
The financial statements were approved by the Board of Trustees on _____ and signed on its behalf by:
Sue Henchley Chairman of Trustees The Orchard Trust
dodsw
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2022
| Operational Property Designated Restricted general revaluation fund fund fund reserve £ £ £ £ Funds brought forward at 1 April 2021 4,142,028 978,901 900,000 33,645 Net incoming resources 266,930 - - 70,163 before transfers Depreciation on revalued 14,628 (14,628) - - Amounts Transfer between reserves 92,790 - - (92,790) _ _ _ _ Funds carried forward at 31 March 2022 4,516,376 964,273 900,000 11,018 Operational Property Designated Restricted general revaluation fund fund fund reserve £ £ £ £ Funds brought forward at 1 April 2020 3,937,802 992,400 900,000 25,755 Net incoming resources before transfers 145,784 - - 52,833 Depreciation on revalued 13,499 (13,499) - - Amounts Transfer between reserves 44,943 - - (44,943) _ _ _ _ Funds carried forward at 31 March 2021 4,142,028 978,901 900,000 33,645 |
Total funds £ 6,054,574 337,093 - - _ 6,391,667 Restated Total funds £ 5,855,957 198,617 - - _ 6,054,574 |
|---|---|
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Cash generated from in operating activities | 15 | 598,068 | 333,481 | ||
| Cash flows from investing activities | |||||
| Interest income | 319 | 2,933 | |||
| Purchase of tangible fixed assets | (203,883) | (82,060) | |||
| Proceeds from sale of tangible assets | 1,500 | - | |||
| Cash provided by (used in) investing | |||||
| activities | (202,064) |
(82,060) |
|||
| Increase in cash and cash equivalents in | |||||
| the year | 396,004 |
254,354 |
|||
| Cash and cash equivalents at the beginning | |||||
| of the year | 1,285,820 |
1,031,466 |
|||
| Total cash and cash equivalents at the end | |||||
| of the year | 1,681,824 |
1,285,820 |
The charitable company does not have any debt and therefore an analysis of the debt has not been included in these financial statements.
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
1 ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, adopting the following principal accounting policies all of which are in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The financial statements are presented in Pounds Sterling.
Company status
The company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company is subject to the requirements of the Companies Act 2006 with regards to the form and content of the financial statements.
The company is incorporated and domiciled in England and Wales.
The address of its registered office is: The Orchards Lydbrook Valley Springs Central Lydbrook Lydbrook Gloucestershire GL17 9PP
Judgements and estimation uncertainty
The trustees consider that there are no key areas of judgement or estimation uncertainty to be disclosed in these financial statements.
Tangible fixed assets and depreciation
Tangible fixed assets are stated in the accounts at cost or revalued amount less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The annual rates applied in this period were:
Freehold buildings (homes) 2% on written down value Farm 2% on written down value Plant and equipment 15% on written down value Office equipment and furniture 40% on written down value Motor vehicles 25% on written down value
No depreciation is provided on freehold land.
Stocks
Stocks are valued at the lower of cost and net realisable value.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged to the Statement of Financial Activities.
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
1 ACCOUNTING POLICIES (continued)
Trade receivables
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All debtors are repayable within one year and are hence included at the undiscounted amount of the cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the Trust will not be able to collect all amounts due according to the original terms of the receivables.
Trade payables
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Trust does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Income and endowments
Income and endowments are allocated between:
Donations and legacies (analysed between donations/gifts and grants receivable)
Donations/gifts and grants are accounted for on a receivable basis. Funds collected, to which the charity is entitled, but not received before the end of the financial year, are included in income and endowments and in debtors.
Capital grants are recognised through the Statement of Financial Activities as income to restricted funds. A transfer is then made to the General Fund so as to write back the fund over the expected useful life of the relevant asset.
Income from charitable activities (fees from local authority contracts)
Income derives from the provision of education and residential care and is recognised in the Statement of Financial Activities on a receivable basis. Such income is exempt from Value Added Tax.
Income from Investments
Interest receivable is accrued on a daily basis.
Other income
Income arising from the provision of training is recognised on a receivable basis, and included within ‘Other income’.
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
1 ACCOUNTING POLICIES (continued)
Expenditure on Charitable activities
Expenditure on Charitable activities is included in the Statement of Financial Activities on an accruals basis, inclusive of any Value Added Tax, which cannot be recovered. Where expenditure is directly attributable to more than one activity, it is apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
Funds
Funds held by the charity are either:
-
Unrestricted general funds, which can be used in accordance with the charitable objects at the discretion of the Trustees; or
-
Unrestricted designated funds, which can be used in accordance with the Charitable objects, in respect of specific projects ear-marked by the Trustees; or
-
Restricted funds, which can only be used for particular restricted purposes within the objects of the charity. Restrictions are specified by the donor or when funds are raised for particular restricted purposes. All funds received to date have been applied against capital projects.
Taxation
The Company is an Exempt Charity within the meaning of Schedule 2 of the Charities Act 1993 and as such is a charity within the meaning of Section 519 of the Income Tax Act 2007 (formerly Section 506(1) of the Taxes Act 1988). Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Section 524 of the Income Tax Act 2007 (formerly Section 505 of the Taxes Act 1988) or Section 256 of the Taxation of Chargeable Gains Tax 1992 to the extent that such income or gains are applied to exclusively charitable purposes.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses of tax credits. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Pensions
The company operates a defined contribution scheme for certain employees. The contributions are charged to revenue in the period in which they are incurred.
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
2 EXPENDITURE ON CHARITABLE ACTIVITIES
| Note Provision of care and education: Staff costs 4 Residents’ expenses Transport costs Property costs Equipment maintenance Other costs Depreciation Insurance Support costs: Staff costs 4 Property costs Equipment maintenance Insurance Office costs Sundry Legal and professional fees Bank charges Bad debt expense (Profit)/Loss on disposal of tangible fixed assets Total expenditure on charitable activities |
2022 £ 3,102,229 180,002 46,571 120,283 71,507 35,572 145,346 47,078 _ 3,748,588 _ 318,765 6,331 3,764 2,478 42,860 138 52,866 1,804 6,034 (1,382) _ 433,658 _ 4,182,246 |
2021 £ 2,944,318 207,277 33,978 123,130 68,100 31,279 148,469 39,216 _ 3,595,767 _ 314,048 6,480 3,584 2,064 39,266 150 50,745 1,553 42,129 10,531 _ 470,550 _ 4,066,317 |
|---|---|---|
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
3 NET INCOME FOR THE YEAR
| NET INCOME FOR THE YEAR | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| This is stated after charging: | ||
| Depreciation | 145,346 | 148,469 |
| Auditors’ remuneration | 9,300 | 9,250 |
Third Party Indemnity insurance costs of £1,382 (2021 - £1,106) were incurred in the year in relation to Trustee Indemnity Insurance. The maximum indemnity under the policy was £2,000,000 (2021 - £2,000,000).
4 STAFF COSTS AND NUMBERS
| Note Staff costs: Wages and salaries Social security costs Other pension costs Analysed: Staff costs included in provision of care and education 2 Staff costs included in support costs 2 Emoluments to Executive officer |
2022 £ 3,153,633 204,919 62,442 _ 3,420,994 3,102,229 318,765 _ 3,420,994 70,238 __ |
2021 £ 3,009,312 188,801 60,253 _ 3,258,366 2,944,318 314,048 _ 3,258,366 70,940 __ |
|---|---|---|
The above represents the emoluments of the highest paid officer. No other employee earned more than £60,000. The trustees did not receive any remuneration.
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Management and administration | 11 | 11 |
| Nursing and care staff | 182 | 177 |
| ____ | ____ | |
| 193 | 188 |
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5 TAXATION
As The Orchard Trust is an exempt charity, it is exempt from taxation in respect of income or capital gains received.
6 TANGIBLE FIXED ASSETS
| Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for the year Eliminated on disposal At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Residential freehold property £ 5,173,855 118,844 - 5,292,699 776,918 82,198 - 859,116 4,433,583 4,396,937 |
Farm £ 192,780 - - 192,780 64,700 2,563 - |
Plant & equipment £ 18,873 - - 18,873 13,635 786 - 14,421 4,452 5,238 |
Office equipment & furniture £ 241,058 52,665 - 293,723 148,190 44,824 - 193,014 100,709 92,868 |
Motor vehicles £ 131,498 32,374 (7,794) 156,078 85,117 14,975 (7,676) 92,416 63,662 46,381 |
Total £ 5,758,064 203,883 (7,794) |
|---|---|---|---|---|---|---|
| 5,954,153 | ||||||
| 1,088,560 145,346 (7,676) |
||||||
| 67,263 125,517 128,080 |
1,226,230 | |||||
| 4,727,923 | ||||||
| 4,669,504 |
Freehold property includes £278,720 (2021 - £278,720) in respect of land which has not been depreciated.
Comparable historical cost of the freehold property is £4,635,000 (2021 - £4,635,000). The accumulated depreciation on the historical cost is £1,324,092 (2021 - £1,256,522).
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
7 INVESTMENTS
| Subsidiary Listed undertakings investments £ £ Cost At 1 April 2021 10,909 930 Disposals (1) - __ _ 31 March 2022 10,908 930 Amortisation Impairment brought forward and at 31 March 2022 10,908 - ___ Net book value 31 March 2022 - 930 31 March 2021 1 930 |
Total 2022 £ 11,839 (1) __ 11,838 10,908 ____ 930 931 |
|---|---|
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
8 STOCK
| Livestock and materials 9 DEBTORS Trade debtors Other debtors and accrued income Prepayments Amount owed by related parties 10 CREDITORS: Amounts falling due within one year Trade creditors Taxation and social security Accruals and deferred income Other creditors |
2022 £ 1,440 2022 £ 140,230 36,112 50,958 - _ 227,300 2022 £ 55,874 60,858 86,210 44,808 _ 247,750 |
2021 £ 1,440 2021 £ 186,600 52,892 41,736 3,551 _ 284,779 2021 £ 43,508 39,742 61,554 43,096 _ 187,900 |
|---|---|---|
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
11 COMMITMENTS
At 31 March, the total of future minimum lease payments is as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expiry date: | ||
| Less than one year | 1,786 | 2,240 |
| Between two and five years | 2,637 | 3,543 |
| _ | _ | |
| 4,423 | 5,783 |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £2,371 (2021 - £12,942).
At 31 March 2022 the Trust had capital commitments contracted for but not provided in these financial statements of £25,000 (2021 - £nil).
12 RESTRICTED FUNDS
| 1 April | Incoming | Normal | Resources | 31 March | |
|---|---|---|---|---|---|
| 2021 | Resources | Expenditure | Transfer | 2022 | |
| £ | £ | £ |
£ | £ | |
| Café | 7,822 | 780 | - |
(8,602) | - |
| Offas Dyke Car | 2,081 | - | (1,039) |
(1,042) | - |
| Offas Dyke Sensory room | 1,236 | - | - |
- | 1,236 |
| Cookery project | 4,598 | - | - |
- | 4,598 |
| Sevenoaks Tomcat | 643 | - | - |
- | 643 |
| Sevenoaks Paths | 4,100 | 4,000 | - |
(3,995) | 4,105 |
| Pool upgrade | 10,000 | 55,162 | - |
(65,162) | - |
| Virtual day service | 2,069 | - | - |
(2,069) | - |
| Government grants | 1,096 | 230,347 | (231,443) |
- | - |
| Community liaison | - | 10,000 | - |
(10,000) | - |
| Beanbags | - | 400 | - |
(400) | - |
| Science week project | - | 500 | (64) |
- | 436 |
| Morelands Gardens | - | 1,520 | - |
(1,520) | - |
| __ | __ | __ |
__ | __ | |
| Total restricted funds | 33,645 | 302,709 | (232,546) |
(92,790) | 11,018 |
Resources transfer includes capital expenditure of £120,339 (2021 – £43,188).
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Funds £ Fixed assets 4,728,853 Current assets 1,899,546 Current liabilities (247,750) ___ Balance carried forward at 31 March 2022 6,380,649 |
Restricted funds £ - 11,018 - ___ _ 11,018 |
Total £ 4,728,853 1,910,564 (247,750) __ 6,391,667 |
|---|---|---|
14 MOVEMENTS ON RESERVES
Whilst the Statement of Financial Activities shows the movement on all funds, the position is also illustrated in this note for clarity:
| Operational | Property | Designated | Restricted | Total | |
|---|---|---|---|---|---|
| general | revaluation | fund | fund | funds | |
| fund | reserve | ||||
| £ | £ | £ | £ | £ | |
| Funds brought forward | |||||
| at 1 April 2021 | 4,142,028 | 978,901 | 900,000 | 33,645 | 6,054,574 |
| Net incoming resources | 266,930 | - | - | 70,163 | 337,093 |
| before transfers | |||||
| Depreciation on revalued | 14,628 | (14,628) | - | - | - |
| Amounts | |||||
| Transfer between reserves | 92,790 |
- | - | (92,790) | - |
| __ | __ | __ | _ | _ | |
| Funds carried forward | |||||
| At 31 March 2022 | 4,516,376 | 964,273 | 900,000 | 11,018 | 6,391,667 |
The designated funds of the charitable company relates to a “Residential Care Development Fund” whereby it is the intention of the Trustees to further develop the provision of care and to provide for unforeseen major expenditure to the properties.
The Trustees are looking for suitable opportunities.
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DocuSign Envelope ID: ABBEF351-9821-49BB-9CD8-F44146042067
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
_________________
15 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income before other recognised gains and losses Interest receivable Depreciation (Profit) or loss on disposal of assets (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash generated from operating activities |
2022 £ 337,093 (319) 145,346 (1,382) 57,480 59,850 598,068 |
2021 £ 198,617 (2,933) 148,469 10,531 (57,743) 36,540 333,481 |
|---|---|---|
16 RELATED PARTY TRANSACTIONS
During the year, rent and rates was paid of £16,669 (2021 - £14,009) to Mr R Morgan (a trustee), who owns a freehold property from which the company trades. No amounts remain unpaid as at 31 March 2022.
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