2021-03-31-accounts - The Oakhaven Trust

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For the year	ended 31 March 2021
Reference and administrative information			.
Statement from the Chairman and		Chief	Executive
Trustees' annual report (including		the strategic			report) ..
Independent	auditor's report						.....................................................24
Consolidated	statement of financial	activities		(incorporating		an	income and expenditure	account) 28
Consolidated	and charity balance sheets		.................................. ......................................................29
Consolidated	statement of cash flows							.....30
Notes to the	financial statements							.....31

Company	number	02435177
Charity number		90021S
Registered	office	Pennington Chase,
and operational		Lower Pennington Lane
address		LYMINGTON, Hampshire
		SO41 BZZ
Country of registration		England &Wales
Country of incorporation United Kingdom
Trustees		Trustees, who are also directors		under		company	law, who served during		the
		year and up to the date	ofthis	report were as follows:
		Prof P Dodson (Chair)
		M Kendal (Treasurer)
		D Ware (Secretary)
		Dr D Butler
		P Dunford
		J Caldwell
		ATerpening (Resigned	18 Feb 2021)
		A Bunston
		D Wansey
		S Shearman
		R S Morgan
		R Anderson
		J Payne (Appointed 17Aug 2021)
Key management		Andrew Ryde (Chief Executive)
personnel		Lucy Smith (Director of	Patient Services)
		Alison Taylor (Director of Finance)
		Donna Wilkins (Director	of People		Services)
		Felicity Morgan (Medical	Director)		Appointed 1 June 2020
		Lucy Boyland (Lead Consultant)		Resigned 30 April			2020
		Janina John (Head of Physiotherapy)			Retired 31 December 2020
		Amanda Clapham (Head	of Fundraising			& Comms) Resigned		5 May 2020

Bankers		HSBC				Santander	CAF Financial Services	CAF Financial Services	CAF Financial Services
		102 High Street				Bridle Road	25 Kings		Hill Avenue,
		Lymlngton,				Merseyside	Kings	Hill,
		Hampshire.				Bootle,	West	Mailing,
		5041 9ZP				Merseyside.	Kent.
						L30 4GB	ME19	4TA
Solicitors		Paris Smith	LLP
		Number I	London		Road
		Southampton
		5015 2AE
Auditor		Hopper Williams		&	Bell Limited
		Chartered	Accountants
		Highland House
		Mayflower	Close
		Chandlers	Ford
		Eastleigh
		Hampshire
		5053 4AR
Investment	Advisors	CCLA Fund	Managers			Limited
		Senator House
		85 Queen Victoria			Street
		London
		EC4V 4ET
		Ruffer LLP
		80 Victoria	Street
		London
		SW1E SJL

Risk						Mitigation
Change	to	statutory				This Is mitigated by a good relationship with local
commissioning				structure		commissioners; we remain in close conversation with our	local
						commissioners and abreast of national developments.
Insufficient		funds				Robust budgeting and timely and accurate financial monitoring.
						Fit for the future strategy and ongoing monitoring of progress.
						Reserves policy.
Staffing	—inability to attract					Effective recruitment campaigns, ensuring appropriate media		is
appropriate			staff			used. Continued review ofjob descriptions/person
						specifications to ensure correct skills are being recruited.	Ensure
						posts are competitively rewarded. Workforce development	plan
						for all areas.
Reputatlon		and		standing	in	Consideration ofwork and new funding initiatives
the community						Complaints policy
						Dedicated Communications Manager
Clinical	Risk					Clinical Governance framework and strategy
						Complaints procedure
						Critical Incident reporting and review
						Clinical Governance and Medical reports standing Items at	Board
						Meetings
						Complaints report discussed at Board level
Employee		Fidelity				Maintenance and review of financial policy and ensuring
						appropriate financial procedures are adhered to. Appropriate
						security in place relevant to the area. External review.
Health	& Safety					Ensure appropriate health and safety policies and procedures
						and staff/volunteers awareness of P&P's including regular	risk
						assessments. Ensure appropriate lone worker policies and
						procedures are in place to minlmlse risk to individuals
Critical	incident			resulting	in	Disaster Management Policy reviewed regularly and updated
major damage				to all services		appropriately to recognise new or emerging risks.
Local/	global		Pandemic			Disaster Management Policy and Infection Control Policies
						reviewed regularly and ensure appropriate staff awareness	of
						duties. Maintain appropriate levels of PPE and ensure staff
						support is in place as standard.
						Government Grants and Guidance.

									2021	2020
							Unrestricted	Restricted	Total	Total
						Note	f	f.	f	f
Income from:
Donations and legacies						3	1,349,559	143,034	1,492,593	1,664, 134
HMRC Job retention	scheme					3	288,476		288,476	17,017
Business Support Grant		Funding				3	160,445		160,445	154,520
Charitable activities
Specialist Palliative		Care				4	889,793	1,400,786	2,290,579	849,541
NHS Grant
Oakhaven Care						16	1,517,095	23,159	1,540,254	532,899
Other trading activities						5	832,136		832,136	1,620,180
Investments						6	62,311		62,311	65,261
Total Income							5,099,815	1,566,979	6,666,794	4,903,552
Expenditure on:
Raising funds
Expenditure on	raising donations				and
legacies							430,890		430,890	437,223
Expenditure on	other trading			activities			881,405		881,405	853,007
Investment management			costs				12,412		12,412	11,531
Charitable activities
Specialist Palliative		Care				7	2,106,450	1,492,427	3,598,877	3,052,139
Care Agency						7	1,257,050	23,159	1,280,209	517,573
Total expenditure							4,688,207	1,515,586	6,203,793	4,871,473
Net income before	net gains		or	(losses)
on Investments						8	411,608	51,393	463,001	32,079
Net gains/ (losses)	on investments					14 &15	598,786		598,786	(17,837)
Net Income/(expenditure)							1,010,394	51,393	1,061,787	14,242
Extraordinary items
Legal settlement						32	900,000		900,000
Net movement In funds							1,910,394	51,393	1,961,787	14,242
Reconciliation offunds:
Total funds brought	forward						7,225,856	194,184	7,420,040	7,405,798
Total funds carried	forward						9,136,250	245,577	9,381,827	7,420,040

For the Y r ended	31 M	2 21
					The group		The charity
					2021	2020	2021	2020
				Note
Fixed assets:
Tangible assets Investment properties Investments				13 14 15	3,549,152 191,500 3,107,466	3,894,620 153,000 2,559,491	3,540,837 191,500 3,107,472	3,894,620 153,000 2,559,497
					6,848,118	6,607,111	6,839,809	6,607,117
Current assets:
Debtors				18	1,005,319	1,169,460	784,483	1,240,143
Cash at bank and	in hand				2,312,304	396,535	2,102,773	279,258
					3,317,623	1,565,995	2,887,256	1,519,401
Liabilities:
Creditors: amounts	falling	due within	one year	19	664,745	623,552	532,354	526,993
Net current assets					2,652,878	942,443	2,354,902	992,408
Total assets less current		liabilities			9,500,996	7,549,554	9,194,711	7,599,525
Creditors: amounts	falling	due after	one year	21	119,169	129,514	119,169	129,516
Total net assets					9,381,827	7,420,040	9,075,542	7,470,009
Funds:				24
Restricted income	funds				245,577	194,184	245,577	194,184
Unrestricted income funds:
Designated funds Fair value reserve					3,440,916 1,212,152	3,785,544 613,366	3,440,916 1,212,152	3,785,544 613,366
General funds					4,483,182	2,826,946	4,176,897	2,876,915
Total unrestricted	funds				9,136,250	7,225,856	8,829,965	7,275,825
Total funds					9,381,827	7,420,040	9,075,542	7,470,009

h Year ended 3
				Note	2021		2020
					6		f
Cash flows from operating	activities
Net cash from/(used In) operating activities				25		1,917,509		(221,041)
Cash flows from investing	activities:
Dividends, Interest and rents from investments					62,311		65,261
Purchase offixed assets					(66,337)		(123,200)
Proceeds from sale of Investments					448,871		67,963
Purchase of investments					(435,089)		(258,366)
(Increase)/ Decrease in cash held by investment
managers					(1,471)		1,773
Net cash provided by investing activities						8,285		(246,569)
Cash flows from financing	activities:
Repayments of borrowing					(10,025)		(4,377)
Net cash used In financing	activities					(I0,025)		(4,377)
Change in cash and cash	equivalents	In the	year			1,915,769		(471,987)
Cash and cash equivalents	at the beginning		of the
year						396,535		868,522
Cash and cash equivalents	at the end ofthe year					2,312,304		396,535

over	its expected usefu	l life. The	deprec	iation rates in use a	re as follows:
~ ~	Freehold property Freehold property	—additions —additions	pre post	1 April 2001 I April 2001	25 years 50 years
~	Freehold property —garden Furniture and hospice equipment				5 years 3 —10years
~	Motor Vehicles				5 years
Componentisation has 2019.		be applied	for depreciation purposes		for tangible fixed asset purchases	from 1st April

Detailed comparatlves	for th	e stat	em	ent offinancial activities
							2020
					Unrestricted	Restricted	Total
					E	f	f
Income from:
Donations and legacies					1,527,034	137,100	1,664,134
HMRC Job retention scheme					17,017		17,017
Business Support Grant	funding				I 54,520		154,520
Charitable activities
Specialist Palliative	Care				849,541		849,541
Care Agency					532,899		532,899
Other trading activities					1,605,641	14,539	1,620,180
Investments					65,261		65,261
Total Income					4,751,913	151,639	4,903,552
Expenditure on:
Raising funds
Expenditure on raising donations				and legacies	437,223		437,223
Expenditure on other trading			activities		853,007		853,007
Investment management		costs			11,531		11,531
Charitable activities
Specialist Palliative	Care				2,929,171	122,968	3,052,139
Care Agency					517,573		517,573
Total expenditure					4,748,505	122,968	4,871,473
Net Income / (expenditure)		before	losses on Investments		3,408	28,671	32,079
Net (losses) on investments					(I7,837)		(I7,837)
Net movement ln funds					(14,429)	28,671	14,242
Total funds brought forward					7,240,285	165,513	7,405,798
Total funds carried forward					7,225,856	194,184	7,420,040

Income from	don	ati	ons	and	lega	cies
									2021	2020
							Unrestricted f	Restricted E	Total E	Totalf
General donations							831,652	29,284	860,936	680,885
Legacies							406,186		406,186	710,748
Community Fundraislng							70,281		70,281	138,736
Grants and Trusts							41,440	113,750	155,190	133,765
Business support		grant					160,445		160,445	154,520
HMRC Job Retention			scheme				288,476		288,476	17,017
							1,798,480	143,034	1,941,514	1,835,671
Income from	Specialist			Palliative		Care
									2021	2020
							Unrestricted	Restricted	Total	Total
							E	E	f	f
NHS West Hampshire			CCG				862,810		862,810	814,591
NHS Pension	Statutory			Income			19,112		19,112	19,112
NHS Grant								1,400,786	1,400,786
Mesothelioma	cases						7,871		7,871	15,838
Sub-total for	Specialist			Palliative		Care	889,793	1,400,786	2,290,579	849,541
Income from	other		trading		activities
									2021	2020
							Unrestricted	Restricted	Total	Total
							f	E	E	E
Fundraising events							70,935		70,935	238,590
Lotteries							344,836		344,836	384,673
Merchandising	and		shops				393,689		393,689	925,897
Catering							5,735		5,735	37,511
Education							8,680		8,680	32,916
Other							8,261		8,261	593
							832,136		832,136	1,620,180
Income from	investments
									2021	2020
							Unrestricted f	Restrictedf	Total f	Total E
Income from	Investment			portfolio			61,771		61,771	64,393
Income from	cash	held					540		540	868
							62,311		62,311	65,261

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This Is stated aft	er char	ging:
				2021	2020
					E
Depreciation				174,188	182,417
Loss on disposal	offixed assets			237,617	465
Operating lease	rentals:
Property				136,765	149,467
Other services				7,515	15,059
Auditors' remuneration		(excluding	VAT):
Audit				20,000	20,500
Interest payable	on loan			3,799	4,790

									2021	2020
										E
Salaries and	wages								3,667,368	2,999,964
Social security costs									276,272	231,729
Employer's	contribution		to pension	schemes					205,720	183,696
									4,149,360	3,415,389
The following		number	ofemployees	received employee	benefits	(excluding	employer	pension costs) during	the year between:
									2021	2020
									No.	No.

		2021	2020
		No.	No.
Raising funds		31	32
Specialist Palliative	Care	79	85
Care Agency		53	29
Support		37	33
		200	179

The group
			Hospice
Freehold Property		Motor Vehicles	Equipment	Furniture	and Fittings	Total
	E	E	E		E
Cost
At the start of the year	5,913,866	54,988	280,031		349,676	6,598,561
Additions In year	37,509				28,828	66,337
Disposals in year
At the end of the year	5,487,208	54,988	280,031		375,895	6,198,122
Depreciation
At the start ofthe year	2,127,464	22,286	246,899		307,292	2,703,941
Charge for the year	135,079	9,969	8,690		20,450	174,188
Eliminated on disposal
At the end of the year	2,035,993	32,255	255,589		325,133	2,648,970
Net book value
At the end ofthe year	3,451,21 5	22,733	24,442		50,762	3,549,152
At the start ofthe year	3,786,402	32,702	33,132		42,384	3,894,620
All ofthe above assets are used for charitable	purposes.

				Hospice
		Freehold property E	Motor Vehicles f	Equipment E	Furniture	and Fittings E	Total E
Cost
At the start ofthe year Additions In year		5,913,866 37,509	54,988	280,031		347,665 19,915	6,596,550 57,424
Dlsposals	In year
At the end	ofthe year	5,487,208	54,988	280,031		364,971	6,187,198
Depreciation
At the start of the year		2,127,464	22,286	246,899		305,281	2,701,930
Charge for the year		135,079	9,969	8,690		19,852	173,590
Eliminated	on disposal
At the end	ofthe year	2,035,993	32,255	255,589		322,524	2,646,361
Net book	value
At the end	of the year	3,451,215	22,733	24,442		42,447	3,540,837
At the start of the year		3,786,402	32,702	33,132		42,384	3,894,620

Investment properties
	The group		The charity
	2021	2020	2021	2020
	E	E	E	E
Fair value at the start ofthe year Revaluation during the year	I53,000 38,500	I 53,000	153,000 38,500	153,000
Fair value at the start and end ofthe year	191,500	153,000	191,500	I 53,000

Investments
					The group 2021	2020	The charity 2021	2020
					E	E	E	E
Fair value at the start ofthe year Additions at cost Disposal proceeds Net gain on change ln fair value					2,502,907 435,089 (448,871) 560,286	2,330,341 258,366 (67,963) (17,837)	2,502,913 435,089 (448,871) 560,286	2,330,347 258,366 (67,963) (17,837)
					3,049,411	2,502,907	3,049,417	2,502,913
Cash held by investment	broker pending		reinvestment		58,055	56,584	58,055	56,584
Fair value at the end of the year					3,107,466	2,559,491	3,107,472	2,559,497
Historic cost at the end of the year					1,946,125	1,946,125	1,946,131	1,946,131
Investments comprise:
					The group 2021	2020	The charity 2021	2020
					E	E	E	E
Rufferlndex Linked treasury bonds					395,501	422,000	395,501	422,000
Ruffer Equities: UK					253,121	136,408	253,121	136,408
Ruffer Equities: overseas					327,924	170,219	327,924	170,219
Ruffer Gold and precious	metals				81,262	89,611	81,262	89,611
Ruffer Credit and llllquld	strategies				164,623	161,975	164,623	161,975
Ruffer Cash held as part of investment Ruffer Other CCLA Overseas Equities CCLA UK Equities CCLA Infrastructure &ooeratino assets		portfolio			58,055 65,574 1,184,187 174,202 160,639	56,584 62,938 878,767 183,928	58,055 65,574 1,184,187 174,202 160,639	56,584 62,938 878,767 183,928
CCLA Contractual &other income CCLA Private eoultv					47,205 35,404		47,205 35,404
CCLA Property / Other Assets					68,694	299,248	68,694	299,248
CCLA Fixed Interest					5,989	7,299	5,989	7,299
CCLA Cash					85,076	90,504	85,076	90,504
Investment In subsidiary	undertakings	Incorporated		In the
UK at cost							6	6
Investment In HOP					10	10	10	10
					3,107,466	2,559,491	3,107,472	2,559,497

				2021	2020
				E	E
Turnover Cost of sales				351,506 (111,401)	384,708 (121,585)
Gross profit				240,105	263,123
Administrative	expenses			(I0,260)	(12,991)
Profit on ordinary		activities		229,845	250,132
Gift aid to parent		undertaking		(230,132)	(273,958)
Reserves brought		forward		20,134	43,960
Reserves Carried		forward		19,847	20,134
The aggregate	of	the assets, liabilities	and funds was:
Assets				93,015	96,022
U abilities				(73,168)	(75,888)
Funds				19,847	20,134

					2021	2020
					E	E
Turnover					1,580,374	528,173
Furlough Income					14,852	206
Business Grant
Total Income
Cost of sales					(1,027,216)	(347,052)
Gross profit					621,751	185,847
Administrative	expenses				(258,573)	(I75,I70)
ProRt / (loss) for		the financial	year		363,178	10,677
Gift aid to parent					(I5,000)
Reserves brought		forward			(71,418)	(82,095)
Reserves Carried		forward			276,760	(71,418)
The aggregate	ofthe assets,		liabilities	and funds was:
Assets					350,378	122,288
Uablg ties					(73,618)	(I93,706)
Funds					276,760	(71,418)

								2021	2020
								E	E
Turnover								34,712	49,334
Cost of sales								(26,716)	(26,268)
Gross profit								7,996	23,066
Administrative	expenses							(6,105)	(5,751)
Profit on ordinary			activities					1,891	17,315
Gift aid to parent			undertaking					(1,315)	(18,180)
Reserves brought			forward					1,317	2,182
Reserves Carried		forward						1,893	1,317
Assets								4,012	3,580
Liabilities								(2,1 19)	(2,263)
Funds								1,893	1,317
Parent charity
The parent charity's				gross Income and the results for the year are disclosed		as follows:
								2021	2020
								E	E
Gross Income								6,430,314	3,975,890
Result for the year								1,605,533	(63,110)
Debtors
					The group			The charity
					2021	2020		2021	2020
					E		E	E	E
Trade debtors					229,368	276,118		115,407	260,789
less bad debt provision Legacies Income due					&I7,363) 113,453	(9,735) 344,628		(9,735) 113,453	&9,735) 344,628
Accrued income					465,885	390,742		354,080	306,002
Amounts due from			subsidiaries		and group undertakings			2,196	175,167
VAT					41,115	48,690		41,158	48,805
Other debtors					12,727	7,	558	11,593	6,609
Prepayments					160,134	111,459		156,331	107,878
					1,005,319	1,169,460		784,483	1,240,143

Creditors	: amounts faglng	due within one year
			The group		The charity
			2021	2020	2021	2020
			f	E		f
Bank loans			5,104	4,784	5,104	4,784
Trade creditors			114,538	I 72,991	95,398	163,848
Amounts	due to subsidiary	undertakings			6,627
VAT
Taxatlon	and social security		75,519	64,872	59,867	55,648
Other creditors			18,228	9,256	11,248	27,806
Accruals			204,575	52,175	180,422	26,986
Pension			32,485	29,909	26,419	27,298
Deferred	income		214,296	289,565	147,269	220,623
			664,745	623,552	532,354	526,993

Deferred	income c	ompris	es	income received In advance	for services to be deBver	ed In future periods
					The group		The charity
					2021	2020	2021	2020
					f	E	E	E
Balance Amount Amount	at the beginning of released to Income deferred In the year			the year In the year	289,565 (1,077,980) 1,002,711	37,934 (557,953) 809,584	220,623 (720,356) 647,002	37,934 (161,629) 344,318
Balance	at the end	of the	year		214,296	289,565	147,269	220,623
Creditors: amounts falling due aRer one year
					The group		The charity
					2021	2020	2021	2020
					E	E	E	E
Bank loans
I —2 years 2 —5 years					5,250 17,158	4,974 16,016	5,250 17,158	4,976 16,016
Over 5	years				96,761	108,524	96,761	108,524
					119,169	129,514	119,169	129,516

23a	Analysis ofgroup net assets between	funds	(«arrant
				General	Designated
				unrestricted	funds	Restricted	funds	Totalfunds
				E	E		E
	Tangible fixed assets Investment properties Investments			191,500 1,895,314	3,440,916 1,212,152	108,236		3,549,152 191,500 3,107,466
	Net current assets			2,515,537		137,341		2,652,878
	Long term liabilities			(119,169)				(119,169)
	Net assets at March 2021			4,483,182	4,653,068	245,577		9,381,827
23b	Analysis of group net assets between	funds	(prior year)
				General	Designated
				unrestricted	funds	Restricted	funds	Total funds
	Tangible fixed assets Investment properties Investments			I53,000 1,946,125	3,785,544 613,366	109,076		3,894,620 153,000 2,559,491
	Net current assets			857,335			85,108	942,443
	Long term liabilities			(129,514)				(129,514)
	Net assets at March 2020			2,826,946	4,398,910	194,184		7,420,040

Movements In fun	ds (cu	rrent year)
				Income and	Expenditure
			At I April 2020	gains	and losses	Transfers	At 31 March 2021
			E	E	E	E
Restricted funds:
Acorn Project				333			333
Restricted property/equip Vehicle			12,119 65	11,000	(I1,000)		I2, 1 19 65
Bed Campaign Service related NHS SEGrant Staff CNS			88,254	47,301 1,400,786 10,000	(44,301) (1,400,786) (I0,000)		88,254 3,000
Covid related Rebrandlng/webslte				I 5,900 6,000	(I2,500) (6,000)		3,400
Help line IT/laptops HCC StafF				45,500 7,000 23,159	(7,000) (23,159)		45,500
Other equipment ACE Project Miscellaneous restrl«ted		donations	8,638 14,760 70,348		(840)		7,798 14,760 70,348
Total restricted funds			194,184	1,566,979	(1,515,586)		245,577
Unrestricted funds:
Designated funds:
Fair value reserve IPU alterations Tangible fixed asset reserve			613,366 3,785,544	598,786 900,000		(1,244,628)	1,212,152 900,000 2,540,916
Total designated funds			4,398,910	1,498,786		(1,244,628)	4,653,068
General funds			2,826,946	5,099,815	(4,688,207)	1,244,628	4,483,182
Total unrestricted	funds		7,225,856	6,598,601	(4,688,207)		9,136,250
Total funds			7,420,040	8,165,580	(6,203,793)		9,381,827

		2021	2020
		E	E
Net Income for the year (as per the statement or financial	activities)	1,961,787	14,242
Depreciation charges Losses on disposal oftlxed assets		174,188 237,617	182,417 465
(Gains)/losses on Investments Dividends, Interest and rent from Investments Decrease/(Increase) In debtors Increase In creditors		(598,786) (62,311) 164,141 40,873	17,837 (65,261) (467,561) 96,820
Net cash from/ (used In) operating	activities	1,917,509	(221,041)

	Property	Other
	2021	2021	2020	2020
	E	E	E	E
Less than one year Two to five years & ffve years	I31,616 189,816 160650	3,497 11,164	122,325 131,576	8,960 16,382
	482,082	14,661	253,901	25,342

Analysis of c	hang	es In n	et debt
				At' 1.4.20	Cash flow	At 31.3.21
				E	E	E
Net cash
Cash at bank	and	in hand		396,535	1,915,769	2,312,304
Debt
Debts falgng	due	within	one vear	(4,784)	(320)	(5,104)
Debts failing	due	aRer one year		(129,514)	10,345	(119,169)
				(134,298)	10,025	(124,273)
Total				262 237	I 925 794	2 188031