Charity Registration No. 801967
Company Registration No. 02359751 (England and Wales)
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs N Lee |
|---|---|
| Mr N C Johnson | |
| Mr R K Allam | |
| Mr R J Pringle | |
| Secretary | Miss F C Tasdelen |
| Chief Executive | Mr S M Robinson |
| Charity number | 801967 |
| Company number | 02359751 |
| Registered office | Moran House |
| 1 Holes Bay Park | |
| Sterte Avenue West | |
| Poole | |
| Dorset | |
| BH15 2AA | |
| Auditors | Saffery Champness LLP |
| Midland House | |
| 2 Poole Road | |
| Bournemouth | |
| BH2 5QY | |
| Solicitors | Lester Aldridge |
| Russell House | |
| Oxford Road | |
| Bournemouth | |
| BH8 8EX | |
| Investment advisors | Smith and Williamson Investment Management |
| 25 Moorgate | |
| London | |
| EC2R 6AY | |
| Bankers | Barclays |
| Barclays House | |
| 1 Wimborne Road | |
| Poole | |
| BH15 2FQ | |
| Santander | |
| Charities Aid Foundation | |
| CCLA Investment Management |
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 8 |
| Statement of trustees' responsibilities | 9 |
| Independent auditors' report | 10-13 |
| Statement of financial activities | 14 |
| Statement of financial position | 15 |
| Statement of cash flows | 16 |
| Notes to the accounts | 17 - 34 |
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The directors and trustees present their annual report and the financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Articles of Association, the Companies Act 2006 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 (FRS102) (effective January 2015).
Objectives and activities
The objects clause in the Company's Memorandum of Association states:
The relief of:
a) persons suffering from a physical or physiological infirmity or disability
b) older persons suffering financial hardship, sickness, poor health or social exclusion by reason of their age or ill health.
in ways that express Christian love and compassion in a practical way.
The company as a provider of personal care is subject to the Health and Social Care Act 2008 and is regulated by the Care Quality Commission (CQC).
The activities of the organisation in the year towards their objectives are outlined in Achievements and Performance.
Achievements and Performance
2020/21 will be remembered as the most challenging year for charities like PramaCare providing home care support. Not only did our dedicated team of Care Support Workers and Managers continue providing high quality care to vulnerable adults but they also had to ensure that no client became infected by Covid-19. This they did successfully, not one of the clients we supported throughout 2020/21 developed Covid-19 ; we cannot thank our staff team enough for their diligence and commitment.
PramaCare’s ethos follows the example of Jesus Christ, who showed care and love in a practical way. As a non-denominational Christian charity, Prama is committed to helping people, regardless of creed, culture, or beliefs. We understand that each person we support is an individual and we seek to provide compassionate support, giving dignity and respect.
On average we supported 480 clients a month (437 for 2019/20) with a variety of services from domiciliary care, to nail care and support for people with brain injuries. We also provided subsidised services to on average 14 clients a month to a total cost of £14,514.
To assist our statutory colleagues and to better support vulnerable adults during the pandemic PramaCare joined the BCP Council Rapid Response Scheme, to support the discharge of people from hospital; ensuring that they could return home safely and with the right support for their needs. PramaCare supported numerous people through this scheme, some of whom had contracted Covid-19 before being referred to us and some who had expressed the wish to die at home. We are proud that our staff team had the skills and commitment to provide them all with one to one person-centred care.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2021
All this activity amounted to 126,290 hours of direct support across 2020/21, an increase of 2,540 on the previous year 2019/20. In addition to achieving such significant outputs for PramaCare, our staff team also achieved high levels of quality service delivery.
The results of our 2020/21 client survey:
| Question | Excellent | Good | Needs Improvement |
Poor | Don’t Know |
|---|---|---|---|---|---|
| How safe do you feel when our team areprovidingcare toyou? |
75% | 23% | 1% | 0% | 1% |
| How effective are we at helping you live your life the way you want to? |
57% | 39% | 1% | 0% | 3% |
| Do we treat you and your family with dignity, respect and compassion? |
78% | 21% | 0% | 0% | 1% |
| Do you feel we are listening to you and helping to meet any changes in your needs? |
60% | 33% | 2% | 0% | 5% |
| Do you feel comfortable to contact the manager of your service if you have aproblem? |
59% | 34% | 3% | 1% | 3% |
All respondents said that they would recommend PramaCare to other people.
In addition to the survey results we also receive very positive feedback from clients and their families about the support we provide. We have arranged the following feedback under the key outcomes outlined by the Care Quality Commission in their framework for care providers:
Keeping people safe: As I live on my own and have no relations in this area, I am grateful for the feeling of security my contact with PramaCare gives me.
Delivering an effective service: As an office team you are just amazing the way you efficiently respond to our needs and are always willing to listen to difficulties that arise. I am always recommending you to others, thank you.
Caring staff: We appreciate the good humour of the carers that come. They always ask whether there is anything else they can do to help us and are always willing, flexible and relaxed.
Responsive to people’s needs: As with all people dependent on extra help, I appreciate being allowed to be as independent as I can, despite my limitations and the thing I most value are carers who are positive, efficient, pleasant and caring.
A well-led service: All my carers have done well over the current pandemic in difficult times, this includes all in the office and local managers.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2021
Prama was founded from the vision and passion of one man. Motivated by his faith and compassion, Dr Chris Moran saw a need and mobilised those around him. For almost 40 years, tens of thousands of clients have benefitted from that vision and his passion is now our passion. Through a staff team now numbering around 300, Prama is determined to adapt to the needs of new generations, develop and grow new services and ultimately move closer to our vision where no-one is unfairly disadvantaged or excluded because of age or infirmity and where every person can enjoy life as they age.
As a Board we would like to take this opportunity of expressing our sincere gratitude to all the staff, volunteers, donors and supporters who have made this work possible during this difficult year. The challenges facing older people in need of care and support in this country and in this region are huge but, with your continued support, we are making a difference.
Financial review
The total income for the charity was £3,966,083 (2019/20: £3,772,583). The provision of care and support is the primary activity producing this income. Demand remains strong for Prama's services. While some clients decided to suspend their packages during the first wave of the pandemic, this enabled Prama to use available hours to support the NHS through the hospital discharge scheme which freed up scarce resources so that those suffering the greatest impact from Covid-19 could be treated in hospital.
The charity shops generate vital income to fund our non-care activities and support the expansion of the Prama Group. Their closure through much of 2020/21 due to the Covid-19 crisis was a blow but the move into online sales, the development of the new warehouse at Pathways, government grant funding and the continued generosity of supporters and former care clients through donations and legacies provided a welcome boost to our income in, what would have been otherwise, a difficult financial year.
The above factors resulted in an overall surplus for the year of £246,188 (2019/20: deficit of £72,165). The trustees are committed to sustaining a position where income from domiciliary care covers all related costs, and other income from fundraising and trading enables the expansion of other charitable activities throughout the Prama Group.
Results
The results for the year, the state of the charity's affairs and transfers between the restricted and unrestricted funds are shown in the attached financial statements.
Fundraising
In the year the Company received or was notified of legacies amounting to £64,828 (2019/20: £175,000) and grants and donations of £40,821 (2019/20: £16,480).
Investments
The company has an investment portfolio held by Smith and Williamson Investment Management. As at 31 March 2021 the investment portfolio was valued at £151,010 (2019/20: £127,107).
The trustees' policy is to invest as much cash as is not needed for current working requirements with Smith and Williamson Investment Management and allow the fund managers to choose investments for a balanced return with medium risk. There is no specific limitation for social, environmental or ethical investment purposes but the trustees monitor the portfolio content for these aspects.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Reserves policy
The charity's unrestricted and undesignated funds amount to £469,515 (2019/20: £279,205). The trustees monitor the level of reserves on a regular basis throughout the year and set a target level, appropriate to the charity's current position and future plans, through the annual budgeting process. The ongoing requirement for reserves is to provide for the long term need for working capital, caused mainly by the monthly cycle of collecting invoiced charges for care after the staff have been paid for its delivery, and also to provide for short term fluctuations in income from trading, investments and other donations and grants. Following a full review of the reserves policy during 2020/21 the trustees consider it prudent to maintain a minimum reserve of £475,000 in this respect. The difference between reserves held and the level of reserves as set out in the policy has been considered during the 2021/22 budget setting process.
Note 26 to the accounts identifies those funds that can only be realised through the sale of tangible fixed assets and investments. The value of free reserves (the total of unrestricted and undesignated funds less functional assets) at 31 March 2021 amounted to £436,529 (2019/20: £230,791).
Fixed assets
Full details of movements in tangible fixed assets are set out in note 17 to the financial statements.
Sources of funding
As mentioned above, the bulk of income for the charity is produced from its charitable activity of providing care and support as part of meeting its objectives. This income is derived primarily from private clients using their own funds or allocated Direct Payments from Local Authority support. We have a small proportion of work contracted directly by Local Authorities and Clinical Commissioning groups. The income from Local Authorities was increased significantly in 2020/21 through our involvement with the hospital discharge scheme under contract with Bournemouth, Christchurch and Poole Council.
Voluntary income includes those funds generated from general charitable donations and legacies as mentioned above. The shops also produce an income for the charity as part of their fundraising activities.
Fundraising
PramaCare undertakes its own fundraising activities and does not use the services of a professional fundraiser or commercial participator. In doing so it provides information to individuals who express an interest in donating to the charity or leaving a legacy but it does not directly canvass individuals for fundraising purposes. The charity has not at this time signed up to a voluntary fundraising regulation scheme or standard.
During 20/21, no complaints were received in respect of the charity's fundraising activities.
Expenditure
The majority of expenditure incurred is wages and travel costs for the care team and the care support workers in connection with the charity's objectives and its charitable activity of providing care and support.
Governance and administrative costs are incurred in support of the charity's primary role including the management team, finance and HR departments for example and for the charity to adhere to relevant laws and regulations.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Remuneration policy
None of the trustees receives any remuneration. The remuneration of the chief executive is set by the trustees, and other members of the senior management team by the chief executive, having regard to market rates, experience needed and the degree of responsibility held.
The chief executive officer's total remuneration and benefits were between £70,000 - £80,000. No other staff received total remuneration and benefits in excess of £60,000. The total remuneration and benefits of the rest of the senior management team amounted to £198,637 (2019/20: £266,593).
Employee involvement
The charity operates a Joint Consultative Committee which is attended by elected members of staff from different areas of the organisation, the Chief Executive officer and a trustee. This forum is used formally as a means of consultation and dissemination of information and meets three times per year.
The charity seeks to give full and fair consideration to all applications for employment made to the charity by people living with disability and make efforts in respect of the continuing employment and training of employees who may become disabled while employed by the company. The charity seeks to introduce, maintain and develop arrangements involving employees, providing systematic relevant information, undertaking regular employee consultation and providing necessary training and career development to all staff members.
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 10th March 1989. It was registered as a charity with the Charity Commission on 20 December 1989. The company was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under the terms of the Memorandum of Association each member of the company guarantees to contribute £1 towards the assets of the company in the event of it being wound up while he/she is a member, and towards the costs, charges and expenses of winding up.
None of the trustees have any beneficial interest in the company.
The trustees, who are also directors for the purpose of company law, and who served during the year were: Mrs N Lee
Mr N C Johnson Mr R Allam Mr J Pringle
Prama Foundation is the ultimate parent undertaking of PramaCare and has a board of directors which receives recommendations and information from four sub-committees focussing on:
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Finance and General Purposes
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Human Resources
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Care (The Board of PramaCare)
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PramaLife (The Board of PramaLife)
The chair of each committee is held by a director of Prama Foundation and these make recommendations to the full Board of The Prama Foundation.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
The directors, who are also charity trustees, establish policies that are then implemented by the chief executive officer (CEO) who is responsible for the employment of staff that carry out the objectives of the company.
New director/trustees are appointed following a review of skills by a nominations sub-committee. Each trustee elected meets with the CEO and then observes a board or sub-committee meeting before final decisions are taken on appointment. The nominations sub-committee report to the board. Persons considered to be able to offer particular expertise to the charity are given a Trustee Handbook and Strategic Plan and meet with the CEO to receive a full explanation of the purposes, ethos and practices of PramaCare before being invited to serve on the board.
In PramaCare the Head of Care & Business Development holds the legal position of 'Nominated Individual', with a 'Registered Manager' taking responsibility for the delivery of care activities, as required by Care Quality Commission regulations. The Head of Care supervises the Registered Manager who, with her Locality Care Managers, are responsible for assessing the appropriate care and support required by the clients referred to the charity. They are also responsible for the management of Care Support Workers and ensuring that calls are scheduled and carried out appropriately.
A number of staff are also appointed to deliver non-regulated services. These include support to Carers, specific projects for people with dementia, and community based development work. These provide clear evidence of PramaCare's charitable benefit.
Day to day management of the charity is delegated to the CEO - Mr S Robinson, who leads the Senior Management Team.
Risk assessment
Identification and reporting of risk is a standing item at each of the sub-committees. A risk register is maintained to focus on specific areas of the organisation's activities and is reported to The Prama Foundation board on a regular basis. The Estates Manager is designated as Health and Safety officer.
The principal risks of the business relate to;
a) The global Covid-19 pandemic: PramaCare had added a pandemic to its risk register in 2019. Even though we did not anticipate the full impact of the pandemic this early decision enabled us to implement a range of plans to mitigate its impact, including the use of Personal Protection Equipment, infection control, remote working and the challenges of staff/volunteers needing to isolate.
b) Recruiting sufficient care staff to meet demand: As we come out of the pandemic we have been challenged to find that issues such as “long COVID” and delayed NHS referrals have created considerable additional demand for our care work. In order to address the challenge of recruiting and retaining good staff to meet this need we have recently created the new position of “Pastoral Support” for our teams in their first months in a new role
c) Maintaining a favourable rating with the Care Quality Commission. PramaCare is committed to achieving high standards in the delivery of care and currently has a 'Good' rating across the board with 'Outstanding' for care, having been reconfirmed in the latest inspection in 2019.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
d) Maintaining good governance: In common with many other charities it is challenging to find skilled and committed individuals to act as charity Trustees in an increasingly complex corporate environment and where the time required to exercise good governance is considerable. In 2016 we adopted the principles of best practice as recommended within the sector based on the Nolan Principles for public life and introduced robust standing orders to govern day to day business.
Public Benefit
The trustees have given due regard to public Benefit when planning the charity's activities, in accordance with sections G2 and G3 of the Charity Commission's General Guidance on Public benefit (January 2010).
The paragraphs in this report set out our activities, achievements, and performance during the year, which are directly related to the objects and purposes for which the charity exists. The charity achieves its principal objects and purposes through care to any members of the public in the local community who have needs arising from a physical or psychological infirmity. These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit.
Plans for the future
PramaCare's Vision is a world where no-one is unfairly disadvantaged or excluded, because of age or infirmity, and where every person can enjoy life as they age. As such our Mission is to enable those who live with vulnerability or isolation enjoy their independence, lead fulfilling lives and fully contribute to society.
Our strategic objectives 2018-2021
1) We will develop our services appropriately, to meet both opportunity and the changing needs of society 2) We will enhance the high standard of interventions with individuals
3) We will advance strategic and productive partnerships and relationships
4) We will build financial and staff capacity to maximise positive outcomes and impact
5) We will increase our influence role and reputation
6) We will maintain and develop our Christian identity
In looking to the future our intention is to continue to improve, grow, develop and innovate.
Having spent some years building our sister charity, PramaLife, to develop support services, such as telephone and online chat lines to those living alone we want to see this integrated into the work of PramaCare so that we are the best model of including and supporting our clients socially to complement the physical support already offered.
Another critical area will be in staff recruitment and retention. Care Staff turnover for 2020/21 was 33.8%, compared to an industry average of 34.7% (Skills for Care, 2020). Lower turnover at Prama can be partially explained by our intentional push in the first few months of 2021 to increase the number of our staff on Guaranteed Hours contracts. Between September 2020 and May 2021, we reduced the proportion of our CSWs on Zero-hours contracts from 55% down to 39% (compared to the industry average of 56%). We anticipate that the increase of Guaranteed Hours, along with the appointment of a Pastoral Lead worker to support staff in their first few months of work through mentoring through new challenges, acting as a role model and enabling staff to become “Outstanding Carers” will decrease our turnover still further in 2021/22.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
New Starter retention has increased year-on-year, from 46% in 2018/19, to 61% in 2019/20, reaching 68.8% in 2020/21. Exit interview data shows that fewer staff are leaving as Care is ‘not for them’ (13.3% of leavers in 2019/20, compared to 4.2% in 2020/21), suggesting that we are hiring more suitable people.
We also know from client feedback that we could do better in notifying them about changes to our visiting times and like all organisations delivering complex services we do receive complaints. We respond openly and quickly to any issues, this is the most effective way of solving issues and valuing the concerns of our clients.
Communication is also an issue for our staff team, the majority of whom work remotely. We will be tackling this in 2021/22. A key aim is to equip all our care staff with mobile phones linked to a central live IT system which will enable us to:
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Update clients and their families of the arrival times of their carers and the tasks (including the administration of medication) the care worker has completed for a client on their departure.
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Update the staff team of changes to their rota and alerts about the training and support they can access.
We are confident that with this “digitisation” of the way PramaCare organises and delivers its services will make an already quality care support service significantly better.
Auditors
Saffery Champness LLP are auditors to the charity and in accordance with Section 485 of the Companies Act 2006 the trustees will propose a motion re-appointing the auditors at their annual general meeting.
Disclosure of information to auditors
Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
On behalf of the board of trustees
Mr N C Johnson, Chairman
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees, who are also directors of PramaCare (Charitable Company Limited by Guarantee) for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources including the income and expenditure, of the charitable company for that year.
In preparing these accounts, 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; and state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT
TO THE TRUSTEES OF PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
Opinion
We have audited the financial statements of PramaCare for the year ended 31 March 2021 which comprise Statement of Financial Activities, Statement of Financial Position, Statement of Cash Flows and notes to the financial statements, including 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:
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give a true and fair view of the charitable company’s state of affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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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
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
misstatement of this other information we are required to report that fact.
We have nothing to report in this regard.
Other matters 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 Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the 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’ Annual Report .
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, or returns adequate for our audit have not been received
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• from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees’ 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 Trustees’ Responsibilities Statement set out on page 10, the trustees (who are also 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 to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
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.
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PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.
Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales.
Further the charity is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the charity’s operations. We identified the most significant laws and regulations to be those issued by the Care Quality Commission.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. 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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
- 12 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
Use of our report
This report is made solely to the charitable company’s members and the trustees, 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, the charitable company’s members and trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Nicholas Fernyhough (Senior Statutory Auditor) for and on behalf of Saffery Champness LLP Chartered Accountants Midland House 2 Poole Road Bournemouth BH2 5QY
Statutory Auditors
Date: 18 October 2021
Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
- 13 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2021 | 2020 | ||
| general | designated | |||||
| Notes | £ | £ | £ | £ | £ | |
| Income and Endowments from: | ||||||
| Donations and legacies | 3 | 315,424 | - | - | 315,424 | 221,480 |
| Charitable activities | 4 | 3,229,871 | - | - | 3,229,871 | 3,007,491 |
| Other trading activities | 5 | 414,239 | - | - | 414,239 | 538,346 |
| Investments | 6 | 1,635 | - | - | 1,635 | 3,272 |
| Other income | 7 | 4,915 | - | - | 4,915 | 1,994 |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Total income and endowments | 3,966,084 | - | - | 3,966,084 | 3,772,583 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Expenditure on: | ||||||
| Raising funds | 8 | 367,098 | - | - | 367,098 | 447,586 |
| Charitable activities | 9 | 3,375,918 | - | 130 | 3,376,048 | 3,391,823 |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Total expenditure | 3,743,016 | - | 130 | 3,743,146 | 3,839,409 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Net income / (expenditure) from activities | 223,068 | - | (130) | 222,938 | (66,826) | |
| Net gains / (losses) on investments | 14 | 23,251 | - | - | 23,251 | (5,339) |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Net income / (expenditure) before transfers | 246,319 | - | (130) | 246,189 | (72,165) | |
| Transfers between funds | (56,009) | 56,009 | - | - | - | |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Net movement in funds | 190,310 | 56,009 | (130) | 246,189 | (72,165) | |
| Fund balances at 1 April 2020 | 279,205 | 534,004 | 9,325 | 822,534 | 894,699 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Fund balances at 31 March 2021 | 469,515 | 590,013 | 9,195 | 1,068,723 | 822,534 | |
| -------------- | -------------- | -------------- | -------------- | -------------- |
- 14 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Property, Plant and Equipment | 17 | 598,614 | 633,566 | ||
| Investments | 18 | 151,010 | 127,107 | ||
| -------------- | -------------- | ||||
| 749,624 | 760,673 | ||||
| Current assets | |||||
| Inventories | 20 | 4,500 | 4,500 | ||
| Trade and other receivables | 21 | 399,045 | 567,459 | ||
| Cash at bank and in hand | 598,556 | 101,123 | |||
| -------------- | -------------- | ||||
| 1,002,101 | 673,082 | ||||
| Current liabilities | 23 | (683,002) | (611,221) | ||
| -------------- | -------------- | ||||
| Net current assets | 319,099 | 61,861 | |||
| -------------- | -------------- | ||||
| Total assets less current liabilities | 1,068,723 | 822,534 | |||
| -------------- | -------------- | ||||
| Income funds | 25 | ||||
| Restricted funds | 9,195 | 9,325 | |||
| Unrestricted funds: | |||||
| Designated funds | 590,013 | 534,004 | |||
| Other charitable funds | 469,515 | 279,205 | |||
| -------------- | 1,059,528 | -------------- | 813,209 | ||
| -------------- | -------------- | ||||
| 1,068,723 | 822,534 | ||||
| -------------- | -------------- |
The accounts were approved by the Trustees on 29th September 2021
Mr N C Johnson, Chairman
Company Registration No. 02359751
- 15 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
AS AT 31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cash flows from operating activities: | ||||
| Cash generated (absorbed) by operations (Note 31) | 505,025 | (62,170) | ||
| Cash flows from investing activities | ||||
| Dividends and interest received | 1,635 | 3,272 | ||
| Proceeds from the sale of property, plant and equipment | 7,900 | - | ||
| Purchase of equipment | (11,406) | (9,721) | ||
| Proceeds from the sale of investments | - | 7,465 | ||
| Purchase of investments | (5,721) | - | ||
| -------------- | -------------- | |||
| Net cash provided by investing activities | (7,592) | 1,016 | ||
| Cash flows from financing activities | ||||
| -------------- | -------------- | |||
| Change in cash and cash equivalents in the reporting period | 497,433 | (61,154) | ||
| Cash and cash equivalents at 1st April 2020 | 101,123 | 162,277 | ||
| -------------- | -------------- | |||
| Cash and cash equivalents 31st March 2021 | 598,556 | 101,123 | ||
| -------------- | -------------- |
- 16 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Company information
PramaCare (Charitable Company Limited by Guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole, Dorset BH15 2AA.
1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102'), 'Accounting and Reporting by Charities' the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a public benefit entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the accounts, the trustees having considered all know factors including Covid-19 have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue and thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Endowment funds comprise funds which are retained for the benefit of the charity as a capital fund.
Where the trustees have a power to convert endowed capital into income, these funds are expendable endowments.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.
- 17 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known the legacy is treated as a contingent asset.
Gifts in kind and donated facilities are recognised as income, if a value can be reliably measured, at the value to the charity when received. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers, including professional services provided directly by volunteers.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
1.5 Resources expended
Expenditure is recognised on an accruals basis. Expenditure has been allocated according to the Statement of Recommended Practice 'Accounting and Reporting by Charities'.
Resources expended attributable to each of raising of funds and charitable activities are allocated to cost categories for each. Where expenses are attributable to more than one of these, the cost category is split on the basis of estimates by the charity's management. Wages are apportioned based on employees' roles and time spent.
1.6 Property, plant and equipment
Property, plant and equipment are initially measured at cost, and subsequently measured at cost, net of depreciation and any impairment losses.
Items are capitalised when their individual value is greater than £500.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land is not depreciated Freehold buildings Over 15 years straight line Leasehold property Over 50 years straight line, or if the term of lease or option to break is less, over the remaining term or period to the break date Shop fixtures and fittings 20% straight line basis Furniture and equipment 15% reducing balance basis Motor vehicles 25% reducing balance basis Computer equipment 33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
- 18 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Accounting policies
(Continued)
1.7 Non-current investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Transaction costs are expensed as incurred. Investments in subsidiaries are valued at cost less provision for impairment.
1.8 Impairment of non-current assets
At each reporting end date the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
1.9 Inventories
Inventories are stated at the lower of cost, on a first in first out basis, and estimated selling price less costs to complete and sell.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classifies as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and changes in fair value are recognised in net income/(expenditure)
- 19 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Accounting policies
(Continued)
Impairment of financial assets
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in net income/(expenditure) for the year.
Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Concessionary loans are initially recognised at the amount received. Subsequently the loans are adjusted for any applicable repayments or interest.
1.12 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate employment of an employee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14 Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
2 Critical accounting estimates and judgements
In the application of the charity's accounting policies the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. On 23 June 2021, the trustee of the Prama Foundation considered the extant approach to capitalising assets. It was decided that the existing policy of a limit of £250 below which items are not capitalised should be revised to "Items are capitalised when their individual value is greater than £500". This change has been applied to assets purchased during the 2020/21 year.
- 20 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 3 | Donations and legacies | Unrestricted | Total | Total |
|---|---|---|---|---|
| Funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Donations and gifts | 40,821 | 40,821 | 16,480 | |
| Legacies receivable | 64,828 | 64,828 | 175,000 | |
| Donations from group companies | - | - | 30,000 | |
| Grants from Government | 209,775 | 209,775 | - | |
| -------------- | -------------- | -------------- | ||
| 315,424 | 315,424 | 221,480 | ||
| -------------- | -------------- | -------------- | ||
| All of the income detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted | ||||
| 4 | Charitable activities | Unrestricted | Total | Total |
| Funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Provision of private care | 2,909,913 | 2,909,913 | 2,942,568 | |
| Local Authorities | 319,958 | 319,958 | 62,312 | |
| Bus Service | - | - | 2,611 | |
| -------------- | -------------- | -------------- | ||
| 3,229,871 | 3,229,871 | 3,007,491 | ||
| -------------- | -------------- | -------------- | ||
| All of the income detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted | ||||
| 5 | Other trading activities | Unrestricted | Total | Total |
| Funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Charity shops and income from activities and events | 100,906 | 100,906 | 530,493 | |
| Grants from Government in respect of trading activities | 313,333 | 313,333 | 7,853 | |
| -------------- | -------------- | -------------- | ||
| 414,239 | 414,239 | 538,346 | ||
| -------------- | -------------- | -------------- | ||
| All of the income detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted | ||||
| 6 | Investments | Unrestricted | Total | Total |
| funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Income from listed investments | 1,150 | 1,150 | 1,858 | |
| Interest receivable | 485 | 485 | 1,414 | |
| -------------- | -------------- | -------------- | ||
| 1,635 | 1,635 | 3,272 | ||
| -------------- | -------------- | -------------- | ||
| All of the income detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted | ||||
| 7 | Other income | Unrestricted | Total | Total |
| Funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Other income | 4,915 | 4,915 | 1,994 | |
| -------------- | -------------- | -------------- |
All of the income detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted
- 21 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 8 | Raising funds | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staff costs | 10,465 | - | |
| Other fundraising costs | 7,786 | 11,236 | |
| -------------- | -------------- | ||
| 18,251 | 11,236 | ||
| -------------- | -------------- | ||
| Fundraising trading: costs of goods sold and other costs | |||
| Operating charity shops | 167,183 | 184,385 | |
| Staff costs | 181,664 | 251,965 | |
| -------------- | -------------- | ||
| 348,847 | 436,350 | ||
| -------------- | -------------- | ||
| Total | 367,098 | 447,586 | |
| -------------- | -------------- |
All of the expenditure detailed above in both 2020/21 and the comparative year, 2019/20, was unrestricted.
| 9 | Charitable activities | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Staff costs - care services | 2,192,022 | 2,024,163 | |
| Staff travel and expenses - care services | 205,364 | 202,171 | |
| Telephone - care services | 28,499 | 33,919 | |
| Medical supplies and equipment | 38,255 | 17,339 | |
| Bad debts | 3,049 | 992 | |
| Charitable client benefits | 630 | 519 | |
| Care subsidy scheme | 14,514 | 60,403 | |
| Staff costs - outreach | 4,142 | 11,167 | |
| Staff expenses - outreach | 31 | 1,961 | |
| Bus Service Expenses | 505 | 19,093 | |
| Funds donated to group companies | 148,052 | 223,632 | |
| -------------- | -------------- | ||
| 2,635,063 | 2,595,359 | ||
| Support costs (note 10) | 726,123 | 777,659 | |
| Governance costs (note 11) | 14,862 | 18,805 | |
| -------------- | -------------- | ||
| 3,376,048 | 3,391,823 | ||
| -------------- | -------------- | ||
| Analysis by fund | |||
| Unrestricted funds - general | 3,375,918 | 3,382,516 | |
| Unrestricted funds - designated | - | 9,307 | |
| Restricted funds | 130 | - | |
| -------------- | -------------- | ||
| 3,376,048 | 3,391,823 | ||
| -------------- | -------------- |
- 22 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 10 | Support costs | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Staff costs - management and administration | 345,843 | 421,930 | |
| Travel costs - management and administration | 2,174 | 5,407 | |
| Rent | 11,742 | 6,447 | |
| Heat light and water | 7,190 | 7,635 | |
| Property repairs and maintenance | 15,542 | 12,344 | |
| Equipment repairs and maintenance | 33,332 | 4,353 | |
| Insurance | 16,598 | 16,373 | |
| Miscellaneous expenses | 45,049 | 6,550 | |
| Computer expenses | 71,004 | 68,658 | |
| Printing postage and stationery | 37,081 | 44,458 | |
| Advertising | 5,938 | 8,569 | |
| Archive storage | 3,173 | 5,501 | |
| Telephone | 9,500 | 11,306 | |
| Professional fees | 18,148 | 18,075 | |
| Staff - other costs | 20,367 | 22,652 | |
| Staff costs - training | 32,428 | 48,367 | |
| Expenses - training | 13,532 | 12,359 | |
| Depreciation | 36,841 | 41,291 | |
| Loss on disposal of fixed assets | 641 | - | |
| Bad debt provision | - | 15,384 | |
| -------------- | -------------- | ||
| 726,123 | 777,659 | ||
| -------------- | -------------- | ||
| 11 | Governance costs | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Audit fees | 9,504 | 10,012 | |
| Bank charges and interest | 4,877 | 5,865 | |
| Legal and professional | 481 | 2,928 | |
| Trustees travel | - | - | |
| -------------- | -------------- | ||
| 14,862 | 18,805 | ||
| -------------- | -------------- |
- 23 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
12 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits. No trustees received any expenses during the year (2019/20: £0).
13 Employees
Number of employees
The average weekly number of employees during the year was:
| 2021 | 2020 | 2021 | 2020 | |
|---|---|---|---|---|
| Headcount | Headcount | Full time | Full time | |
| equivalent | equivalent | |||
| Direct charitable activities | 169 | 165 | 63 | 65 |
| Charity shops | 19 | 24 | 9 | 13 |
| Management and administration | 41 | 51 | 31 | 35 |
| -------------- | -------------- | -------------- | -------------- | |
| 229 | 240 | 103 | 113 | |
| -------------- | -------------- | -------------- | -------------- |
Employment costs
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 2,595,810 | 2,577,490 |
| Social security costs | 126,359 | 128,832 |
| Pension costs | 43,522 | 44,385 |
| -------------- | -------------- | |
| 2,765,691 | 2,750,707 | |
| -------------- | -------------- | |
| The number of employees whose annual remuneration was | ||
| £60,000 or more were: | 2021 | 2020 |
| number | number | |
| £70,000 - £80,000 | 1 | 1 |
| -------------- | -------------- |
Contributions totalling £3,751 (2019/20: £1,519) were made to defined contribution pension schemes on behalf of employees whose emoluments exceeded £60,000.
- 24 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 14 | Net gain / losses on investments | Net gain / losses on investments | |||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| funds | 2021 | 2020 | |||
| general | |||||
| £ | £ | £ | |||
| Gain / (Loss) on investments | 23,251 | 23,251 | (5,339) | ||
| -------------- | -------------- | -------------- | |||
| 23,251 | 23,251 | (5,339) | |||
| -------------- | -------------- | -------------- | |||
| 15 | Net income from activities | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Net income from activities is stated after charging: | |||||
| Depreciation | 36,841 | 41,291 | |||
| Auditors remuneration | - audit (current year) | 9,752 | 9,608 | ||
| - audit (prior years) | (248) | 404 | |||
| -------------- | -------------- |
16 Taxation
The company is exempt from taxation due to its charitable status.
- 25 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
17 Property, Plant and Equipment
| Freehold | Computer | Leasehold | Leasehold | Shop | Furniture | Motor | Total | |
|---|---|---|---|---|---|---|---|---|
| property | equipment | property | property | fixtures & | and | vehicles | ||
| and | & software | long term | short term | fittings | equipment | |||
| alterations | ||||||||
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Cost | ||||||||
| At 1 April 2020 | 764,272 | 95,188 | 62,043 | 22,494 | 24,983 | 49,762 | 32,322 | 1,051,064 |
| Additions | 1,674 | 3,549 | - | 4,528 | - | 1,655 | - | 11,406 |
| Disposals | - | (52,880) | - | - | - | (7,226) | (23,707) | (83,813) |
| -------------- | -------------- | -------------- | -------------- | -------------- | ---------------------------- | -------------- | ||
| At 31 March | 765,946 | 45,857 | 62,043 | 27,022 | 24,983 | 44,191 | 8,615 | 978,657 |
| 2021 | -------------- | -------------- | -------------- | -------------- | -------------- | ---------------------------- | -------------- | |
| Depreciation | ||||||||
| At 1 April 2020 | 219,532 | 84,400 | 21,631 | 16,127 | 24,352 | 33,553 | 17,903 | 417,498 |
| Charged | 19,956 | 6,976 | 1,241 | 2,997 | 505 | 3,291 | 1,875 | 36,841 |
| Disposals | - | (52,880) | - | - | - | (7,226) | (14,192) | (74,298) |
| -------------- | -------------- | -------------- | -------------- | ------------- | -------------- | ------------- | -------------- | |
| At 31 March | 239,488 | 38,496 | 22,872 | 19,124 | 24,857 | 29,619 | 5,587 | 380,041 |
| 2021 | -------------- | -------------- | -------------- | -------------- | -------------- | ---------------------------- | -------------- | |
| Net book value | ||||||||
| 31 March 2021 | 526,458 | 7,361 | 39,171 | 7,898 | 126 | 14,572 | 3,028 | 598,614 |
| -------------- | -------------- | -------------- | -------------- | -------------- | ---------------------------- | -------------- | ||
| 31 March 2020 | 544,740 | 10,788 | 40,412 | 6,367 | 631 | 16,209 | 14,419 | 633,566 |
| -------------- | -------------- | -------------- | -------------- | -------------- | ---------------------------- | -------------- |
The carrying value of land included in freehold property at 31 March 2021 and 31 March 2020 was £258,941
The trustees have assessed the value in use of the property to the charity as being the carrying value.
Commitments:
There were no capital commitments at 31st March 2021(2019/20: £nil).
- 26 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 18 | Investments | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Unit Trusts and Bonds | 109,958 | 93,169 | |
| Listed Securities | 32,230 | 20,046 | |
| Cash | 8,444 | 13,514 | |
| Santander Shares | 377 | 377 | |
| Investments in subsidiaries | 1 | 1 | |
| -------------- | -------------- | ||
| 151,010 | 127,107 | ||
| -------------- | -------------- |
Fixed asset investments revalued
All investments are carried at fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in unit trusts are at bid price.
The investments are held to provide a medium risk return for the charity whilst maintaining capital value. The portfolio is managed by specialists and covers a spread of sectors in order to minimise the impact of fluctuations in markets globally.
| Shares in group | Listed | |
|---|---|---|
| Movements in non-current investments | undertakings | investments |
| Market value at 1 April 2020 | 1 | 127,105 |
| Disposals at opening book value | - | - |
| Acquisitions at cost | - | 5,630 |
| Income accumulations | - | 94 |
| Change in value in the year | - | 23,251 |
| Net movement in cash | - | (5,070) |
| -------------- | -------------- | |
| Market value at 31 March 2021 | 1 | 151,010 |
| -------------- | -------------- | |
| Carrying amount | ||
| At 31 March 2021 | 1 | 151,010 |
| At 31 March 2020 | 1 | 127,105 |
| -------------- | -------------- | |
| Historical cost | ||
| At 31 March 2021 | 1 | 103,695 |
| At 31 March 2020 | 1 | 103,043 |
| -------------- | -------------- |
Net cash released from investments in the year was £nil (2019/20: £nil)
The significance of financial instruments to the ongoing sustainability of the charity is considered in the trustees' report.
- 27 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 19 | Financial instruments | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Carrying amount of financial assets | |||
| Instruments carried at fair value through profit and loss | 151,010 | 127,105 | |
| -------------- | -------------- | ||
| 20 | Inventories | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Finished goods and goods for resale | 4,500 | 4,500 | |
| -------------- | -------------- | ||
| 21 | Trade and other receivables | ||
| 2021 | 2020 | ||
| Amounts falling due within one year | £ | £ | |
| Trade receivables | 88,702 | 116,905 | |
| Other receivables | 65,574 | 204,076 | |
| Prepayments and accrued income | 207,599 | 202,908 | |
| Amounts owed by group undertakings | 37,170 | 43,570 | |
| -------------- | -------------- | ||
| 399,045 | 567,459 | ||
| -------------- | -------------- | ||
| 22 | Borrowings | 2021 | 2020 |
| £ | £ | ||
| Concessionary loan payable within one year | 250,000 | 250,000 | |
| -------------- | -------------- |
The loan of £250,000 from the Valentine Charitable Trust has no set repayment date. There is no interest payable during the term of the loan and there are no instalments due. Repayment will be the greater of £250,000 or 41.67% of the value of the property at the time of repayment.
The concessionary loan is secured against the freehold property.
23 Current liabilities
| Current liabilities | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Borrowings (Note 22) | 250,000 | 250,000 |
| Trade payables | 164,322 | 31,672 |
| Taxes and Social Security costs | 37,051 | 39,929 |
| Other payables | 44,205 | 32,968 |
| Accruals | 160,449 | 85,818 |
| Amounts owed to group undertakings | 26,975 | 170,834 |
| -------------- | -------------- | |
| 683,002 | 611,221 | |
| -------------- | -------------- |
- 28 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
24 Pension
| Pension | ||
|---|---|---|
| The company operates a defined contribution scheme. | 2021 | 2020 |
| £ | £ | |
| Contributions paid in year | 43,522 | 44,385 |
| -------------- | -------------- |
The contributions are all attributed to the main activity, being the provision of care, and are allocated to unrestricted funds.
25 Analysis of funds
2019/20 - Prior Year Comparative
| Movement in funds | Movement in funds | |||||
|---|---|---|---|---|---|---|
| Balance at | **Income in ** | Expenditure | **Gains on ** | Transfers | Balance at | |
| 1.4.2019 | year | **in year ** | investments | 31.3.2020 | ||
| £ | £ | £ | £ | £ | £ | |
| Income Funds | ||||||
| Designated funds | ||||||
| Fixed asset fund | 356,349 | - | - | - | (21,197) | 335,152 |
| Mortgage repayment fund | 173,319 | - | - | - | 25,533 | 198,852 |
| Minibus fund | 9,307 | - | (9,307) | - | - | - |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | |
| 538,975 | - | (9,307) | - | 4,336 | 534,004 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | |
| General funds | ||||||
| Unrestricted funds | 346,399 | 3,772,583 | (3,830,102) | (5,339) | (4,336) | 279,205 |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | |
| Restricted funds | ||||||
| End of life | 8,485 | - | - | - | - | 8,485 |
| Registered Managers Network | 840 | - | - | - | - | 840 |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | |
| 9,325 | - | - | - | - | 9,325 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | |
| Total funds | 894,699 | 3,772,583 | (3,839,409) | (5,339) | - | 822,534 |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- |
- 29 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
25 (Continued)
- 2020/21 - Current Year
| 2020/21 - Current Year | |||||||
|---|---|---|---|---|---|---|---|
| Movement | in funds | ||||||
| Balance at | Income in | Expenditure | Gain on | Transfers | Balance at | ||
| 1.4.2020 | year | in year | investments | 31.3.2021 | |||
| £ | £ | £ | £ | £ | £ | ||
| Income Funds | |||||||
| Designated funds | |||||||
| Fixed asset fund | 335,152 | - | - | - | (19,524) | 315,628 | |
| Mortgage repayment fund | 198,852 | - | - | - | 25,533 | 224,385 | |
| Digitisation of Care fund | - | - | - | - | 50,000 | 50,000 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | ||
| 534,004 | - | - | - | 56,009 | 590,013 | ||
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | ||
| General funds | |||||||
| Unrestricted funds | 279,205 | 3,966,084 | (3,743,016) | 23,251 | (56,009) | 469,515 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Restricted funds | |||||||
| End of life | 8,485 | - | - | - | - | 8,485 | |
| Registered Managers Network | 840 | - | (130) | - | - | 710 | |
| -------------- | -------------- | -------------- | -------------- | ------------- | -------------- | ||
| 9,325 | - | - | 130 |
- | - | 9,195 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- | ||
| Total funds | 822,534 | 3,966,084 | (3,743,146) | 23,251 | - | 1,068,723 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | -------------- |
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees to ensure that the charity has adequate funding for future requirements: a) Fixed Asset Fund
An amount equal to the net book value of freehold and long term leasehold assets less the long term funding of PramaCare's freehold property. The transfer from general funds during the year accounts for the net additions to fixed assets less the depreciation charged.
b) Mortgage repayment fund
An amount set aside to provide the funds necessary to repay the long term funding of the charity's freehold property. An amount is being transferred from general funds each year to build up a fund of £250,000 by 31st March 2022. c) Digitisation of Care Fund
An amount set aside to provide the funds necessary to cover the set up costs of the Digitisation of Care project.
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.
The purposes for which the restricted funds are held are as follows:
a) End of life provides specialist training for staff supporting clients who are approaching their final days.
b) Registered Managers network - this fund is used to provide coordination of a peer network amongst Registered Care Managers in Dorset.
- 30 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
26 Analysis of net assets between funds
2019/20 - Prior Year Comparative
| 2019/20 - Prior Year Comparative | |||||
|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | Total | |
| funds | funds | funds | 2020 | 2019 | |
| £ | £ | £ | £ | £ | |
| Fund balances at 31 March 2020 | |||||
| are represented by: | |||||
| Tangible fixed assets | 48,414 | 585,152 | - | 633,566 | 665,135 |
| Investments | - | 127,107 | - | 127,107 | 131,220 |
| Current assets | 592,012 | 71,745 | 9,325 | 673,082 | 550,845 |
| Creditors (amounts falling due | (361,221) | (250,000) | - | (611,221) | (452,501) |
| within one year) | |||||
| -------------- | -------------- | -------------- | -------------- | -------------- | |
| 279,205 | 534,004 | 9,325 | 822,534 | 894,699 | |
| -------------- | -------------- | -------------- | -------------- | -------------- | |
| 2020/21 - Current Year | |||||
| Unrestricted | Designated | Restricted | Total | Total | |
| funds | funds | funds | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |
| Fund balances at 31 March 2021 | |||||
| are represented by: | |||||
| Tangible fixed assets | 32,986 | 565,628 | - | 598,614 | 633,566 |
| Investments | - | 151,010 | - | 151,010 | 127,107 |
| Current assets | 869,531 | 123,375 | 9,195 | 1,002,101 | 673,082 |
| Creditors (amounts falling due | (433,002) | (250,000) | - | (683,002) | (611,221) |
| within one year) | |||||
| -------------- | -------------- | -------------- | -------------- | -------------- | |
| 469,515 | 590,013 | 9,195 | 1,068,723 | 822,534 | |
| -------------- | -------------- | -------------- | -------------- | -------------- |
27 Contingent liabilities
The charity has an obligation to repay the loan from the Valentine Charitable Trust (note 22) at the higher of £250,000 or 41.67% of the value of the property, Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole. In view of additional expenditure on the property by the charity, the trustees of the Valentine Charitable Trust have agreed to review the percentage payable in light of advice from professional valuers before repayment.
- 31 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
28 Commitments under operating leases
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Land and | Other | Total | Total | |
|---|---|---|---|---|
| buildings | equipment | 2021 | 2020 | |
| £ | £ | |||
| Within one year | 100,954 | 18,241 | 119,195 | 119,262 |
| Between two and five years | 89,316 | 10,060 | 99,376 | 131,804 |
| 5 years + | 5,900 | - | 5,900 | 6,000 |
| -------------- | -------------- | -------------- | -------------- | |
| 196,170 | 28,301 | 224,471 | 257,066 | |
| -------------- | -------------- | -------------- | -------------- | |
| Lease payments recognised as an expense in the accounts | 140,121 | 152,922 | ||
| -------------- | -------------- |
29 Related parties
Control
Throughout the year, PramaCare was ultimately controlled by its sole member Prama Foundation who has power to appoint and remove its board of directors. The Board of Directors and Trustees appointed by the member governs the affairs of the charitable company between Annual General Meetings.
Prama Foundation is the ultimate parent undertaking of the largest and smallest group of undertakings for which the group accounts are presented, and has included the company in its group accounts, copies of which may be obtained from its registered office at Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole BH15 2AA.
The principle purposes of Prama Foundation are the advancement of physical, mental and spiritual health through the provision of care, facilities, services, support and practical advice, to relieve financial hardship amongst older people and people of any age suffering from a physical or mental illness or disability.
Transactions
During the year no related party transactions occurred. Other transactions with the trustees are set out in note 12.
The total remuneration and benefits of the Senior Management Team amounted to £198,637 (2019/20: £266,593).
- 32 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
30 Subsidiaries
Details of the charity's subsidiaries at 31st March 2021 are as follows:
| Name of | Registered | Nature of | Class of | % held | ||
|---|---|---|---|---|---|---|
| undertaking | office | business | shares held | |||
| Abba Care Limited | Moran House | Dormant | Ordinary | 100 | Direct | |
| 1 Holes Bay Park | ||||||
| Sterte Avenue West | ||||||
| Poole Dorset | ||||||
| BH15 2AA | ||||||
| 31 | Cash generated / (absorbed) by operations | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Net surplus / (deficit) for the year (as per the | 246,189 | (72,165) | ||||
| statement of financial activities) | ||||||
| Adjustments for: | ||||||
| Depreciation charges | 36,841 | 41,290 | ||||
| Loss on disposal of property, plant and equipment | 1,616 | - | ||||
| (Gains) / losses on investments | (23,251) | 5,339 | ||||
| Dividends and interest | (1,635) | (3,272) | ||||
| Movements in working | capital: | |||||
| (Increase) in stock | - | (2,500) | ||||
| Decrease / (Increase) in debtors | 168,414 | (180,891) | ||||
| Decrease / (Increase) in cash with investment | managers | 5,070 | (8,690) | |||
| Increase in creditors | 71,781 | 158,719 | ||||
| -------------- | -------------- | |||||
| Cash generated / (absorbed) by operations | 505,025 | (62,170) | ||||
| -------------- | -------------- |
32 Analysis of changes in net debt 2019/20 - Prior Year Comparative
| Other non- | At 31 March | |||||||
|---|---|---|---|---|---|---|---|---|
| At | 1 | April 2019 | Cash flows | cash changes | 2020 | |||
| £ | £ | £ | £ | |||||
| Cash | 162,277 | (61,154) | - | 101,123 | ||||
| Loans due within | 1 | year | (250,000) | - | - | (250,000) | ||
| -------------- | -------------- | -------------- | -------------- | |||||
| (87,723) | (61,154) | - | (148,877) | |||||
| -------------- | -------------- | -------------- | -------------- |
- 33 -
PRAMACARE (CHARITABLE COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
32 (Continued)
| 2020/21 - Current Year | ||||
|---|---|---|---|---|
| At | Other non-cash | At | ||
| 1 April 2020 | Cash flows | changes | 31 March 2021 | |
| £ | £ | £ | £ | |
| Cash | 101,123 | 497,433 | - | 598,556 |
| Loans due within 1 year | (250,000) | - | - | (250,000) |
| -------------- | -------------- | -------------- | -------------- | |
| (148,877) | 497,433 | - | 348,556 | |
| -------------- | -------------- | -------------- | -------------- |
- 34 -