Draft Financial Statements at 15 December 2021 at 15:39:29 Charity Registration No. SC023986 (Scotland) Company Registration No. SC162382 (Scotland) RENFREWSHIRE CARERS CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Maureen Caldwell - Chairperson Charity number (Scotland) Margaret Nilsson - Vice Chairperson Company number Registered office Elizabeth Muir - Treasurer Auditor W Mathieson N Mathieson D Smith J Lindsay I McMillan L Robson I Allan (Appointed 12 October 2021) SC023986 SC162382 Unit 55, Embroidery Mill Abbey Mill Business Centre Paisley United Kingdom PA1 1TJ Azets Audit Services 3 Wellington Square Ayr Ayrshire United Kingdom KA7 1EN
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE CONTENTS Trustees' report Page Statement of trustees' responsibilities 1-5 Independent auditor's report 6 Statement of financial activities 7-9 Balance sheet 10 Statement of cash flows 11 Notes to the financial statements 12 13 - 26
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report and financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and \"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)\". Objectives and activities The charitable activity and objects of the company is to operate as a forum for carers and carers groups in the district, to promote the views and needs of carers with relevant bodies, provide information for carers and promote the development of local carers groups. These objects are met through the charity providing services, many projects, events, groups and partnership working with local authority, medical and other professional services. The significant charitable activities undertaken are providing a respite service, a care at home service and providing support workers for adults and young carers. This has been a particularly challenging year for Carers – many of whom took on additional caring responsibilities to protect their loved ones and we welcomed initiatives to assist Carers such as the Well-being Fund, Digital inclusion funding and grants to assist Carers financially and to look at alternative respite opportunities. With our Office Manager moving on this year we took the decision to bring forward our plan to move to a new accounting package xero- which will enable us to collate better financial reports for the future but did prove difficult to change through the year and would like to thank Azets for helping us bring to accounts up to date. We are currently in discussions with the Health & Social Care Partnership (HSCP) to secure funding for the Core services within the Centre including our Adult Support team and Information Worker. Due to less respite provided to Carers during the pandemic the HSCP have allocated £200,000 to the Centre to work with key partners in Renfrewshire to develop a Carer’s Partnership to develop services to meet the outcomes of Carers as identified within the Carers Strategy and Strategic Plan for Renfrewshire. -1-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achievements and performance Our principle funding source continues to be Renfrewshire Health and Social Care Partnership. New/extended funding this year included: Health & Social Care Partnership-We received £515,125 for our core centre services and £18,792 for our information service Care at Home- Our Social Enterprise, Care at Home which provides high quality personalised social care support is now back up to providing pre- pandemic levels of service £459,618 Big Lottery- £ 84,831 Year 5 of 5 year funding for the Adult Support team Shared Care Scotland – Time to Live Funding of £17,404 and we received a top up to this of £2,992. Young Carers received £3,553. Plus to assist carers during winter we received a Winter Time to Live Fund for £26,516 Resilience Fund- £14,467 was given to our Care at Home service to maintain the key role of management in continuing to deliver the service Furlough Payments- made for our Care at Home staff Well-Being Fund- We received £38,730 to provide services for wellbeing and included keeping fit, wellness walks, activity packs, tablets/kindles for loan, social activities, virtual headsets etc Carers Services working remotely- £10,500 was given through SCVO to help the centre adapt to working from home and carers with digital support. BBC Children In Need- £ 9,958 bridge gap funding. Voluntary Sector Development Fund - £9,200 to train our Respite and Care at Home staff. SCVO- funding for a Community Jobs Scotland Administration Worker post. Carers Trust- Direct grants for Carers, Young Carers Action Day £2,500, Young Adult Carers support £2,100 and Emergency Fund for £3,000 Cash for Kids- £3,185 to support Young Carers Connecting Scotland- We received i-pads and chrome books of which the majority had free wi-fi access for 2 years for Young Carers, Parent carers and Older Carers. Financial review The income for the Centre in 2020/21 was £1,328,209, a slight increase on the prior year figure of £1,236,566. This increase was due to an increase in donations and grants received in the year. Expenditure decreased in the year to £1,160,918 compared to £1,284,367 in the prior year. This has resulted in net income of £167,291 in the year compared to net expenditure of £47,801 in 2020. Reserves policy The board of trustees regularly review the reserves available to ensure adequate funds are available to fulfill its obligations and objectives and aim to have level sufficient to provide 1 to 3 months running costs. -2-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Risk management The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The principal risks and uncertainties facing the charity are in relation to continuity of funding to enable the charity to perform its objectives. The trustees identify and manage this risk by meeting regularly and reviewing the incoming and outgoing resources as well as actively seeking and securing new sources of funding and working closely with existing funders. COVID-19 The charity is also paying close attention to the recent COVID-19 pandemic and the associated impact on the charity. The pandemic has resulted in interruption to some of our services. The main risks faced by the charity is a reduction in our Care at Home income and the risk of our service users, staff or volunteers contracting the virus. The current and future financial position of the charity and its cash flow position has been specifically reviewed by the Trustees in respect of the pandemic. We are continually monitoring government guidance to ensure the charity remains up-to-date with developments. We are also in regular communication with our staff, service users and volunteers with respect to accommodating new ways of working in order to manage through the pandemic, and are mindful of their health and wellbeing. Structure, governance and management Governing document The organisation is a charitable company limited by guarantee, incorporated on 27 December 1995 and is registered as a charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. -3-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The trustees The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Maureen Caldwell - Chairperson (Resigned 4 August 2020) Margaret Nilsson - Vice Chairperson Elizabeth Muir - Treasurer (Resigned 22 May 2020) Alison McGurn (Appointed 12 October 2021) W Mathieson N Mathieson D Smith J Lindsay I McMillan Allan Slicer L Robson I Allan New trustees are recruited by advertising in the Charity’s newsletters, social media and word of mouth. Applicants are screened by the board before appointment. All Board members take part in an Induction Programme which includes their obligation under charity and company law and the financial performance of the Centre. Volunteers In addition to the 11 Board members the centre in 19/20 had a total of 57 volunteers helping support the Centre with Befriending, Group support, Fundraising and outreach. Volunteer Counsellors provided over 300 hours of 1:1 support and a 6-week counselling course. Reference and administration details Reference and administration details are shown in the schedule of members of the board and professional advisers on page 1 of the accounts. The Centre is managed on a day to day basis by Diane Goodman. All staff members with one exception is paid the Living Wage. When recruiting we benchmark across other similar posts within the sector and gain information from the Carers Trust Network. -4-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Disclosure of information to auditor Each of the trustees 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 auditor is aware of such information. The trustees' report was approved by the Board of Trustees. .............................. Maureen Caldwell Director Dated: ......................... -5-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021 The trustees, who are also the directors of Renfrewshire Carers Centre for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year 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 financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements 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 financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 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. -6-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF RENFREWSHIRE CARERS CENTRE Opinion We have audited the financial statements of Renfrewshire Carers Centre (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. -7-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RENFREWSHIRE CARERS CENTRE Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees' report; or - proper accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. -8-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RENFREWSHIRE CARERS CENTRE Use of our report This report is made solely to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. Azets Audit Services ......................... Chartered Accountants Statutory Auditor 3 Wellington Square Ayr Ayrshire United Kingdom KA7 1EN Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006. -9-
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted Total Unrestricted Restricted Total funds funds funds 2021 funds 2020 2020 £ £ £ 2021 2021 2020 235,738 201,844 218,603 Notes £ 522,106 ££ 535,343 1,017,540 Income from: - - 423 Donations and legacies 3 55,459 291,197 16,759 1,036,889 482,197 Charitable activities 4 514,783 123 423 Investments 5 123 Total income 570,365 757,844 1,328,209 499,379 737,187 1,236,566 Expenditure on: 6 491,992 668,209 1,160,201 558,598 725,769 1,284,367 Charitable activities Other 9 - 717 717 - - - Total resources 491,992 668,926 1,160,918 558,598 725,769 1,284,367 expended Net income/(expenditure) 78,373 88,918 167,291 (59,219) 11,418 (47,801) for the year/ Net movement in funds (3,370) 154,697 151,327 55,849 143,279 199,128 Fund balances at 1 75,003 243,615 318,618 (3,370) 154,697 151,327 April 2020 Fund balances at 31 March 2021 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 10 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE BALANCE SHEET AS AT 31 MARCH 2021 Notes 2021 £ 2020 £ £ £ 10 Fixed assets 11 38,066 21,417 37,525 22,782 Tangible assets 341,624 174,927 Current assets 297,201 128,545 Debtors 379,690 318,618 212,452 151,327 Cash at bank and in hand (82,489) (83,907) Creditors: amounts falling due within 12 one year Net current assets Total assets less current liabilities Income funds 14 243,615 154,697 Restricted funds Unrestricted funds 75,003 (3,370) 318,618 151,327 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ......................... .............................. Maureen Caldwell - Chairperson Trustee Company Registration No. SC162382 - 11 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 Notes 2021 £ 2020 £ £ £ Cash flows from operating activities 19 Cash generated from/(absorbed by) 175,070 (4,249) operations Investing activities (8,496) (8,623) Purchase of tangible fixed assets 123 423 Interest received Net cash used in investing activities (8,373) (8,200) - - Net cash used in financing activities Net increase/(decrease) in cash and cash 166,697 (12,449) equivalents 174,927 187,376 341,624 174,927 Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year - 12 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 1 Accounting policies Charity information Renfrewshire Carers Centre is a private company limited by guarantee incorporated in Scotland. The registered office is Unit 55, Embroidery Mill, Abbey Mill Business Centre, Paisley, PA1 1TJ, United Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and \"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)\". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The charity also pays special attention to the recent Covid-19 outbreak and the associated impact on the charity. The main risks faced include: Reduced future Care at Home income due to the lockdown; and Service users, volunteers and staff contracting the virus. The charity is following Government guidance concerning all aspects of the pandemic to ensure best practice precautions are applied. Although it is not possible to reliably estimate the length or severity of the outbreak, at the date of signing, the trustees have reviewed the current and future position and believe they have sufficient funding even if there is a downturn resulting from the pandemic. As such, the trustees consider that it is appropriate to prepare the financial statements on the going concern basis. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 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 financial statements. 1.4 Income Income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the statement of financial activities when receivable. - 13 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 1 Accounting policies (Continued) Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between the expenditure categories of the sofa on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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: Leasehold improvements 10% straight line Fixtures and equipment 15% reducing balance/ 25% straight line 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. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible 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). 1.8 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. 1.9 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. - 14 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 1 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially 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 classified as receivable within one year are not amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 1.10 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 the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The charity is a participating employer in the Strathclyde Pension Scheme which is a multi-employer defined benefit pension scheme. As there is insufficient information available to use defined benefit accounting the charity has accounted for the contributions as a defined contribution plan under Para 28.11 of FRS 102 and 28.11 a of FRS102, as no agreement is in place to recover the surplus. Contributions are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. - 15 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 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 amount 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. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 3 Donations and legacies Unrestricted Restricted Total Unrestricted Restricted Total funds funds funds funds 2021 2021 2021 2020 2020 2020 £ £ £ £ £ £ Donations and gifts 938 670 1,608 16,759 23,375 40,134 Grants 54,521 235,068 289,589 - 178,469 178,469 55,459 235,738 291,197 16,759 201,844 218,603 - 16 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 3 Donations and legacies (Continued) Unrestricted Restricted Total Unrestricted Restricted Total funds funds funds funds 2020 £ 2021 2021 2021 2020 2020 £ £ £ £ £ Grants receivable for - 3,553 3,553 - 450 450 core activities - 7,600 7,600 - 6,083 6,083 Carers Trust – Young - - - Carers - - 14,000 14,000 - 84,341 84,341 Carers Trust – Carers - 10,500 10,500 - 84,831 84,831 Grants 26,516 26,516 - - 15,930 15,930 Robertson Trust 20,396 20,396 - - -- Big Lottery - - - - 20,909 20,909 SCVO - - - - 14,900 14,900 Shared Care – Winter time - - - - 3,185 3,185 - 10,158 10,158 Shared Care – Time to - 38,730 38,730 Live Fund - 9,958 9,958 - 1,250 1,250 - 9,200 9,200 Shared Care – Mind - - -- Moves 590 590 54,521 6,032 6,032 - -- Renfrewshire Council – 14,467 14,467 Young Carers 54,521 - 9,958 9,958 - Renfrewshire Council – 289,589 - -- Louden - -- Cash for kids - -- Cora Foundation - -- Children in Need Voluntary Sector dev fund SW Student CJS Resiliance fund HMRC - furlough 54,521 235,068 - 178,469 178,469 - 17 -
Draft Financial Statements at 15 December 2021 at 15:39:29 2021 2020 £ £ RENFREWSHIRE CARERS CENTRE 503,158 411,172 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 156 115,130 FOR THE YEAR ENDED 31 MARCH 2021 10,541 18,792 480,697 4 Charitable activities 514,783 RHSCP Contract 1,036,889 1,017,540 Renfrewshire Council - Respite Service RHSCP - Information worker 514,783 482,197 Care at Home 522,106 535,343 Analysis by fund Unrestricted funds Restricted funds 1,036,889 1,017,540 5 Investments Unrestricted Unrestricted Interest receivable funds funds 2021 2020 £ £ 123 423 - 18 -
Draft Financial Statements at 15 December 2021 at 15:39:29 Provision of Provision of RENFREWSHIRE CARERS CENTRE centre centre NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) services services FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 6 Charitable activities ££ Staff costs Depreciation and impairment 890,419 867,142 Staff & volunteer training 9,144 7,820 Carers training Volunteers expenses 14,099 14,473 Computer costs 7,102 4,259 Travelling 25 1,092 Activity transport 8,577 - Activities and outings Administration costs 16,277 16,563 Grants repaid - 10,536 Carers grants - 9,586 Share of support costs (see note 7) 48,305 3,387 Share of governance costs (see note 7) - 1,940 38,673 Analysis by fund 38,856 Unrestricted funds Restricted funds 1,032,804 975,471 110,071 300,579 17,326 8,317 1,160,201 1,284,367 491,992 558,598 668,209 725,769 1,160,201 1,284,367 - 19 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 7 Support costs Support Governance 2021 Support Governance 2020 £ £ costs costs costs costs 169,171 ££ ££ 62,294 22,475 Staff costs 43,266 - 43,266 169,171 - 46,639 Premises 34,100 - 34,100 62,294 - Communication & IT - 8,920 22,475 - 4,800 General office 8,920 - 23,785 46,639 - 1,200 23,785 2,255 Audit fees - 8,700 8,700 - 4,800 62 Accountancy - 6,224 6,224 - 1,200 Legal and professional - 2,340 2,340 - 2,255 308,896 Bank charges - 62 62 - 62 308,896 110,071 17,326 127,397 300,579 8,317 2020 Analysed between 110,071 17,326 127,397 300,579 8,317 Number Charitable activities 5 8 Employees 11 74 Number of employees The average monthly number of employees during the year was: 90 Management 2021 Administration Number Project & sessional workers 4 9 60 73 Employment costs 2021 2020 £ £ Wages and salaries Social security costs 833,658 932,652 Other pension costs 40,655 52,541 59,372 51,120 933,685 1,036,313 There were no employees whose annual remuneration was £60,000 or more. - 20 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 9 Other Restricted Total Net loss on disposal of tangible fixed assets funds £ 2021 2020 717 - 717 - 10 Tangible fixed assets Leasehold Fixtures and Total improvements equipment Cost £ At 1 April 2020 £ £ Additions 88,071 Disposals 373 87,698 8,496 - 8,496 At 31 March 2021 - (23,794) (23,794) Depreciation and impairment 373 72,400 72,773 At 1 April 2020 Depreciation charged in the year 373 64,916 65,289 Eliminated in respect of disposals - 9,144 9,144 - (23,077) At 31 March 2021 (23,077) 373 50,983 Carrying amount 51,356 At 31 March 2021 - 21,417 21,417 At 31 March 2020 - 22,782 22,782 11 Debtors 2021 2020 Amounts falling due within one year: £ £ Prepayments and accrued income 38,066 37,525 - 21 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Creditors: amounts falling due within one year 2021 2020 £ £ Other taxation and social security Trade creditors 9,253 9,438 Accruals and deferred income 13,579 2,357 59,657 72,112 82,489 83,907 13 Retirement benefit schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £20,387 (2020 - £5,641) Defined benefit scheme The charity is a participating employer in the Strathclyde Pension Fund which is a multi-employer defined benefit pension scheme. The assets of the scheme are held in separate trustee administered funds. A triennial actuarial valuation of this scheme is carried out by a qualified actuary. The most recent valuation was carried out as at 31 March 2020. The next triennial actuarial valuation will be as of 31 March 2023. The Board has obtained formal actuarial information from the scheme actuary as at 31 March 2020, this showed an actuarial surplus of £207,000 at 31 March 2020. This surplus has not been recognised in these financial statements as there is no contractual agreement in place on how the surplus would be distributed. During the year the employer contribution was 23.5%. The charge to profit or loss in respect of this scheme was £38,985 (2020- £45,479). - 22 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 14 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: Movement in funds Movement in funds Balance at Incoming Resources Balance at Incoming Resources Balance at 1 April 2019 resources expended 1 April 2020 resources expended 31 March 2021 £ ££ £ £££ RHSCP 8,693 102,267 (108,962) 1,998 102,967 (84,893) 20,072 Contract (1,065) 33,573 (32,507) 1 27,320 (35,047) (7,726) 58,292 (56,536) 58,882 (60,845) Advocacy (742) 76,592 (75,826) 1,014 76,592 (66,579) (949) (671) - - 95 2,100 10,108 ASW 1,150 (1,267) 14,520 (13,760) 1,150 14,520 1,983 Young Carers (754) 4,597 (4,526) 4,597 (4,671) (57) 6 (5,047) 9,855 YAC - LAC 34,640 (35,755) 14 34,640 (33,171) (436) 2,603 1,488 Hidden 135,130 (130,268) 118,972 (88,140) 2,957 Carers - 4,862 35,848 (31,168) 59,227 (51,093) 35,694 Group worker (1,397) 3,283 10,541 (21,749) 8,283 (17,717) 11,417 Training 11,599 5,500 (5,481) 391 5,500 (6,242) 8 27 (9,043) Respite 7,041 (7,096) - (59) (715) service (658) (713) 15,793 (15,340) 15,793 (13,671) (772) Volunteer 1,567 2,020 project 2,000 (801) - - 4,142 1,000 2,199 Information 9,958 (7,871) 9,958 (3,973) 2,199 worker 30 4,083 (3,478) 2,117 3,182 (3,582) (506) 6,400 (6,417) 99 9,200 8,102 Mental health 7,741 - (301) 8,914 (8,102) 7,724 100 Young adult 11,586 - 16,924 carers - (354) 12,398 - 354 - 12,498 Young carers 306 (3,244) - - education 3,990 (1,248) - 18 (5) 1,052 - YAC - non - 10,000 (5,302) - - (196) contract - 13 (4,948) 5,000 (1,115) 4,698 - 13 ADHD 1,000 - (250) Respite 14,000 (10,448) 4,885 - 6,285 41 - - (11,665) 4,885 Carer grants 37 9,837 - 84,831 (74,559) 78 84,342 (1,828) Staff training 53,155 1,000 (387) 750 (83,635) 78 1,000 63,427 - Young carers 1,613 64,134 sibling 2,363 Grandparent s Music and movement Carers trust-60 vibe CATS Group worker donations Volunteer project Premises Big lottery ASW CHP Respite - 23 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 14 Restricted funds (Continued) CJS 5,260 5,930 (10,004) 478 8,467 (4,224) 4,721 509 - (509) 707 - 707 Database 2,410 27 4,566 1,463 (3,619) 1,711 - (50) 2,387 Carers choir 14,040 630 (12,960) - 1,711 (359) - Better breaks (239) - (120) 11,862 26,827 - (359) 13,195 22,159 (23,492) (18,138) 20,551 Dance and (139) 139 reminisce - 782 (921) - - 6,722 - Time to live - 14,900 (8,178) (3,634) 3,088 6,397 - PSG - 10,158 (3,761) (998) 10,531 - 6,397 - - (998) (4,739) 4,794 Mind 130 198 moves - 280 (150) (120) 208 - 38,730 YC Celebrate - - - - 6,185 (34,742) 3,988 Renfrewshire - - - - (7,434) (1,249) - - - - 23,315 5,958 Covid remote - - - - 2,500 (17,357) 1,505 - - - 1,500 (995) 1,500 Covid - - shopping - - - - 2,500 2,500 - - - - - - Wellbeing - fund Covid funds Time to live YC action YC festival CT Former carers 143,279 737,187 (725,769) 154,697 757,844 (668,926) 243,615 The restricted funds received can only be spent on the following purposes and have arisen from the following sources;- RHSCP Contract – centralised funding for the following projects:- Young Carers & Young adult Carers – provides support, activities and trips for YC & YAC. Respite Services – a home based service that provides carers with a much needed break from their caring role or to attend appointments or training. FSF/Volunteer Project – provides staff and expenses to support 85 volunteers, being mainly in befriending relationships. Advocacy – to improve the quality of life for carers over 18 through the provision of a 1:1 issue based service. CJS – funding to employ young people to work in reception. Time to Live – provides carers looking after over 21 year olds, with short breaks. Better Breaks – provides fun activities throughout the school holidays for parents and children with complex difficulties. Big Lottery – provides carers with an allocated Adult Support worker. - 24 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 15 Unrestricted funds Movement in funds Movement in funds Balance at Incoming Resources Balance at Incoming Resources Balance at 1 April 2019 resources expended 1 April 2020 resources expended 31 March 2021 £££££££ All funds 55,849 499,379 (558,598) (3,370) 570,365 (491,992) 75,003 16 Analysis of net assets between funds Unrestricted Restricted Total Unrestricted Restricted Total funds funds 2020 funds funds 2020 £ 2021 2021 2021 2020 £ 22,782 ££ ££ 128,545 151,327 Fund balances at 31 March 2021 are represented by: Tangible assets 3,001 18,416 21,417 16,589 6,193 72,002 225,199 297,201 (19,959) 148,504 Current assets/ 318,618 154,697 (liabilities) (3,370) 75,003 243,615 17 Operating lease commitments 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: 2021 2020 £ £ Within one year 5,213 5,213 Between two and five years 1,303 6,516 6,516 11,729 18 Related party transactions 2021 2020 Remuneration of key management personnel £ £ The remuneration of key management personnel is as follows. 91,486 72,080 Aggregate compensation - 25 -
Draft Financial Statements at 15 December 2021 at 15:39:29 RENFREWSHIRE CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 18 Related party transactions (Continued) The trustees give freely of their time and expertise without any form of remuneration or other benefits in cash or kind (2020 - £nil). Expenses paid to the trustees in the year amounted to £nil (2020 - £nil). During the year no trustee had any personal interest in any contract or transaction entered into by the charity (2020 – none). 19 Cash generated from operations 2021 2020 £ £ Surplus/(deficit) for the year 167,291 (47,801) Adjustments for: (123) (423) Investment income recognised in statement of financial activities 717 - Loss on disposal of tangible fixed assets 9,144 Depreciation and impairment of tangible fixed assets 7,820 Movements in working capital: (541) 40,581 (Increase)/decrease in debtors (1,418) (4,426) (Decrease) in creditors Cash generated from/(absorbed by) operations 175,070 (4,249) 20 Analysis of changes in net funds The charity had no debt during the year. - 26 -
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