REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Mayfield Fellowship |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Mayfield Fellowship |
Mayfield Fellowship |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Reference and administrative details | 1 |
Report of the trustees | 2 | to | 7 |
Report of the independent auditors | 8 | to | 11 |
Statement of financial activities | 12 |
Balance sheet | 13 |
Cash flow statement | 14 |
Notes to the cash flow statement | 15 |
Notes to the financial statements | 16 | to | 24 |
Mayfield Fellowship |
Reference and Administrative Details |
for the Year Ended 31 March 2023 |
Trustees |
Company secretary | Ms D Slee |
Registered office |
Registered company number |
Registered charity number |
Auditors |
Chartered Accountants |
& Statutory Auditors |
Mynshull House |
78 Churchgate |
Stockport |
SK1 1YJ |
Solicitors | Brabners Chaffe Street |
Horton House |
Exchange Flags |
Liverpool |
L2 3YL |
Advisers | Barclays Bank Plc |
South Liverpool Management Centre |
394 Edge Lane |
Liverpool |
L7 9PX |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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). |
Strategic report |
Achievement and performance |
Charitable activities |
Mayfield Court is a purpose-built building that was opened in 1983 is based in Knotty Ash in Liverpool. The home is registered with the Care Quality Commission under the Health and Social Care Act 2008 as a care home to provide accommodation and personal care for 35 residents. |
Mayfield Fellowship provides care and support in a safe and secure environment that empowers residents to live their life as independently as they are able irrespective of their disability. The client group who access services have complex physical disabilities which may include clients with learning disabilities and mental health needs following an injury at birth (Cerebral Palsy), acquired brain injury through trauma or neurological disorders. Mayfield Fellowship is registered to provide services with Liverpool, Sefton, Knowsley and East Ridings Social Services. |
Mayfield Court is an approved provider for Liverpool Social Services providing placements for clients who require specialist residential care. The home continues to maintain full occupancy. Referral for placements at the service continues to be via Liverpool Social Service portal system. |
During this reporting period we continued to have restrictions placed on the care home due to COVID 19. Towards the later end of this reporting period, following appropriate risk management, we were able to once again re-commence face to face assessments and report minimal voids. |
Residents |
Referrals of new residents who are placed at Mayfield Court continue to be under the age of 65 and potential residents over the age of 65 continue to find it difficult to secure funding for a placement within the home. |
There has been significant increase in complexity of needs of potential residents who are referred to the service. The senior management team undertake a comprehensive assessment of potential residents to ensure the service can meet individual needs. |
As we began to live with COVID 19 and the home returning to a new "norm" we have resumed residents meetings. |
Again as we live with COVID 19 residents have begun to enjoy activities within the home and the wider community, although the use of What's App group and other social platforms remain in place. |
Although we are living with COVID 19 there remains a risk of a COVID 19 outbreak and in the event of an outbreak all relevant Infection Control procedures will be implemented. |
A review of the role of drivers was undertaken and the decision was made to retain drivers as they have a significant impact on staff retention and recruitment. |
Sadly, this year we lost the following residents, John Richards and Kim Jenkins, their deaths were not Covid related. Both residents are greatly missed by staff and residents. |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Strategic report |
Achievement and performance |
Staffing |
As we live with COVID 19 we have entered a more stable period within our staff group and this has once again enabled us to continue to provide the highest levels of care and support to meet our residents needs. |
During the pandemic CQC suspended all on site inspections and this policy remains in place. We receive monthly reports from CQC stating that they have undertaken external audits of our service and at present there are no concerns and these audits do not affect the home's rating. The Chief Executive and Senior Management Team completed their PIR to CQC (Provider Information Return) which is a legal requirement in February 2022. |
Recruitment and selection of care staff has always been a challenge, even as we live with COVID 19, the challenges remain at a level never seen before within Social Care and we expect this. |
Fundraising |
Due to the Covid 19 pandemic fundraising activities were restricted with the only funds raised being from residents bingo. |
Financial review |
Financial position |
The Fellowship has a policy document titled 'Internal Financial Controls' which is based on Charity Commission recommendations. The document sets out the basic internal controls required. |
The Finance Director continues to work with the Senior Management Team in monitoring and reviewing all financial systems. Financial information is reported to the Board at their regular meetings. |
The total incoming resources for the year were £2,104,785 (2022 £2,013,452). The total resources expended were £2,164,793 (2022 £1,986,893) resulting in a deficit of £60,008 (2022 £26,559 surplus). The Trustees are satisfied that the Fellowship has adequate resources to maintain and develop its activities. |
Principal funding sources |
The main source of income is unrestricted income from various local authorities, residents and the Department for Work and Pensions for the provision of residential care.The main expenditure is the provison of this service. |
Reserves policy |
Reserves are retained in order to meet moral, statutory and other commitments arising from the withdrawal or reduction of funding. The Trustees consider that this should be at least six months running costs. As at 31 March 2023 the Charity held reserves of £991,633 (2022 £1,051,641). |
Reserves are also retained to finance future plans in line with the Fellowship's aims. Monies on deposit are reviewed regularly to ensure that the best possible interest rate can be achieved. The Trustees consider that this level of free reserves is sufficient, and in line with the amount determined by the policy. |
Public Benefit |
The trustees confirm that they have referred to the guidance contained in the Charity Commissioners general guidance on public benefit when reviewing the charity's aims and objectives. The Trustees regard the activities of the Charity to fall within the definition of a charitable purpose relating to carers. |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Structure, governance and management |
Governing document |
As a company limited by guarantee and not having share capital, Mayfield Fellowship's governing document is it's Memorandum and Articles of Association (updated January 2016). |
Mayfield Fellowship carries out its charitable activities at Mayfield Court and is sometimes referred to by this name. |
Recruitment and appointment of new trustees |
The Board of Trustees (who are also Directors for the purpose of Company law) are responsible for the overall governance of the Charity. |
Mayfield Fellowship follows a robust recruitment and selection procedure in the recruitment of all potential trustees. All applicants must apply for an enhanced DBS disclosure and sign a declaration that they are not disqualified from becoming a company director or from working with vulnerable adults. |
Employees of Mayfield Fellowship or SCOPE are disqualified from becoming a trustee. |
Following an expression of interest, potential trustees are invited to Mayfield Court to meet with the Chair and Chief Executive. |
A synopsis of the applicants skills, experience and interests together with the Fellowhips expectations in the role and the responsibilities of a trustee are discussed. The Chief Executive provides an overview of the care and service delivery at Mayfield Court. They are also given a tour of the home. |
The applicant receives an information pack that contains all relevant documents pertinent to the role of a trustee at Mayfield Fellowship and a signed receipt is obtained. |
Once suitability of applicants is established they are then invited to attend a minimum of two board meetings in the role as an observer. |
On completion of the recruitment and selection process the applicant can, if appropriate be put forward for election as a Trustee to the Board. |
Subject to the Memorandum of Association the Trustees may appoint any member as a Trustee in order to fill a casual vacancy of by way of an addition to the Board. |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Structure, governance and management |
Organisational structure |
All Trustees hold office until the Annual General Meeting when a percentage of the Trustees in line with the Articles of Association resign and offer themselves for re-election by the Members of the Charity. |
All Trustees are expected to retain their skills and knowledge of any legislation or organisational change that may affect care and service delivery at Mayfield Fellowship by attending training seminars arranged by the Fellowships solicitors or the Charity Commission. To demonstrate compliance with Regulation 17 Good Governance of the Health & Social Care Act 2008 the Trustees have a responsibility to ensure there is effective governance including assurance and auditing the systems and processes in place at Mayfield Fellowship to monitor, assess and mitigate any risks to the health, safety and welfare of residents who use the service and the staff who work within the home. |
The Board of Trustees also have two sub-committees reporting directly to the Board, the remuneration sub-committee and the future development sub-committee. The remuneration sub-committee benchmarks potential salary increases and new post salaries against current market rates for those posts and ensures that legal requirements such as the minimum wage are adhered to. |
The day to day management and administration of Mayfeld Fellowship is delegated to salaried manager's who report to the Chief Executive, who in turn reports to the Board of Trustees. |
Chair of the Trustees L M Lee |
Vice Chair J A Speariett |
Finance Director A B Jackson |
Chief Executive Carole Ackers |
Senior Management Team |
Operational Finance Director Colin Billington |
Head of Care Adele Gorman |
Deputy Head of Care Naomi Bedford |
Quality Manager Victoria Jones |
Board meetings |
There are regular board meetings, a minimum of six per year where the Chief Executive reports directly to the Board covering all aspects of service delivery and the business at Mayfield Court. |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Structure, governance and management |
Quality and regulatory checks |
The Chief Executive and Quality Manager continually monitor and review internal systems and processes that are in place to monitor the quality of care and service delivery at the home, to ensure we meet the requirements of the Health and Social Care Act and compliance with Social Services Contracts. |
All policies and procedures that demonstrate governance are monitored and reviewed annually under the quality audit system. |
Mayfield Court retained their outstanding status with CQC in July 2023 and remains the only Outstanding residential service in the Liverpool area. |
Due to the Covid pandemic there has been major restrictions on visits into the home. Regular weekly meetings via Zoom platform were held with Liverpool Social Services and North West Public Health England. CQC undertook an unannounced visit to the home strictly adhering to Covid Infection Control guidelines on 30th October 2020 undertaking a targeted inspection focusing on infection control, the report found the home was compliant with all legislation. Infection control audit was undertaken by Liverpool Social Services on management of Covid pandemic/infection control measures, the home was compliant with all guidelines. |
Wider network |
The Chief Executive continues to meet with other charities and residential care providers in the Liverpool area. |
Risk management |
The Trustees and Senior Management Team continue to monitor and review the Charity's Business Plan. This enables them to identify the types of risks the Charity faces, both from internal and external factors and to implement the relevant risk management strategies. The Business Plan was last reviewed by the Chief Executive and future development sub-committee in March 2020. The Business Plan and governance procedures are reviewed annually. |
Statement of trustees' responsibilities |
The trustees (who are also the directors of Mayfield Fellowship for the purposes of company law) are responsible for preparing the Report of the trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Mayfield Fellowship (Registered number: 01901404) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Statement of trustees' responsibilities - continued |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
Auditors |
The auditors, Warr & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Report of the trustees, incorporating a Strategic report, approved by order of the board of trustees, as the company directors, on |
Report of the Independent Auditors to the Members of |
Mayfield Fellowship |
Opinion |
We have audited the financial statements of Mayfield Fellowship (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the Cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (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 2023 and of its incoming resources and application of resources, including its income and expenditure, 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. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 Report of the independent auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the trustees has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Mayfield Fellowship |
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 Report of the trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; 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 charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Mayfield Fellowship |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations were as follows: |
-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
-we identified the laws and regulations applicable to the company through discussions with the trustees and other management and review of appropriate industry knowledge; |
-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and |
-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by; |
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
-considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we; |
-performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships; |
-tested journal entries to identify unusual transactions; and undertook substantive testing on a sample basis; |
-reviewed the application of accounting policies with focus on those with heightened estimation uncertainty. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to; |
-agreeing financial statement disclosures to underlying supporting documentation; and |
-enquiring of management as to actual and potential litigation and claims. |
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
Report of the Independent Auditors to the Members of |
Mayfield Fellowship |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
& Statutory Auditors |
Mynshull House |
78 Churchgate |
Stockport |
SK1 1YJ |
Mayfield Fellowship |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
Income and endowments from |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
Expenditure on |
Charitable activities | 6 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Reconciliation of funds |
Total funds brought forward |
Total funds carried forward | 1,051,641 |
Mayfield Fellowship (Registered number: 01901404) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 12 |
Current assets |
Debtors | 13 |
Cash at bank |
Creditors |
Amounts falling due within one year | 14 | ( |
) | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
NET ASSETS |
Funds | 16 |
Unrestricted funds | 1,051,641 |
Total funds | 1,051,641 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Mayfield Fellowship |
Cash Flow Statement |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 66,746 | 235,845 |
Net cash provided by operating activities | 66,746 | 235,845 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (21,844 | ) | (110,975 | ) |
Sale of tangible fixed assets | - | 2,001 |
Interest received | 1,797 | 518 |
Net cash used in investing activities | (20,047 | ) | (108,456 | ) |
Change in cash and cash equivalents in the reporting period |
46,699 |
127,389 |
Cash and cash equivalents at the beginning of the reporting period |
852,440 |
725,051 |
Cash and cash equivalents at the end of the reporting period |
899,139 |
852,440 |
Mayfield Fellowship |
Notes to the Cash Flow Statement |
for the Year Ended 31 March 2023 |
1. | Reconciliation of net (expenditure)/income to net cash flow from operating activities |
31.3.23 | 31.3.22 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of financial activities) |
(60,008 |
) |
26,559 |
Adjustments for: |
Depreciation charges | 64,744 | 70,709 |
Profit on disposal of fixed assets | - | (1,571 | ) |
Interest received | (1,797 | ) | (518 | ) |
Decrease in debtors | 133,247 | 22,803 |
(Decrease)/increase in creditors | (69,440 | ) | 117,863 |
Net cash provided by operations | 66,746 | 235,845 |
2. | Analysis of changes in net funds |
At 1.4.22 | Cash flow | At 31.3.23 |
£ | £ | £ |
Net cash |
Cash at bank | 852,440 | 46,699 | 899,139 |
852,440 | 46,699 | 899,139 |
Total | 852,440 | 46,699 | 899,139 |
Mayfield Fellowship |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | Accounting policies |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about 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. |
Tangible fixed assets are stated at cost less accumulated depreciation. Management have used their expectation of the estimated useful lives of each category of assets in order to ensure the appropriate provision is made for depreciation. Details are noted in the accounting policies and the depreciation provision is stated in note 12. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Fees for residential care represent the total amount of unrestricted monies received form local authorities, service users and the Department for Work and Pensions. Fees received that relate to a future period are deferred and released to the Statement of Financial Activities in the that future period. |
Cash donations are recognised on receipt. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by the volunteers has not been included in these financial statements. |
Investment income is included when receivable. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Expenditure on raising funds comprises the costs associated with attracting donations and costs of any trading or similar activities for fundraising purposes. |
Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of it's 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 then, including governance costs. |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
1. | Accounting policies - continued |
Expenditure |
Governance costs are those costs incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements. |
Allocation and apportionment of costs |
Resources expended are allocated between the expenditure categories 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 such as floor space and time spent. |
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Short leasehold improvements - 20% on cost |
Fixtures, fittings and equipment - at varying rates on cost |
Motor vehicles - 25% on cost |
Taxation |
The charity is exempt from corporation tax on its charitable activities and is not registered for VAT purposes. Any VAT paid is treated as part of the relevant expenditure incurred. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the period of the lease. |
Going concern |
The trustees have assessed the charitable company's financial position and are confident that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of the financial statements. Thus the financial statements have been prepared on a going concern basis. |
Government grants |
Government grants are accounted for on a receivable basis. |
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. |
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 future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
1. | Accounting policies - continued |
Financial instruments |
Basic financial liabilities, which include creditors, 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. |
2. | Donations and legacies |
31.3.23 | 31.3.22 |
£ | £ |
Donations |
3. | Other trading activities |
31.3.23 | 31.3.22 |
£ | £ |
Fundraising events |
Other income | 20,838 | 5,970 |
4. | Investment income |
31.3.23 | 31.3.22 |
£ | £ |
Short term deposit |
5. | Income from charitable activities |
31.3.23 | 31.3.22 |
Activity | £ | £ |
Residential care | Residential care fees | 2,064,120 | 1,879,400 |
Grants | Residential care fees | 4,629 | 81,103 |
Grant income represents amounts received from the Workforce Recruitment and Retention Fund for adult social care. |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | Charitable activities costs |
Support |
Direct | costs (see |
Costs | note 7) | Totals |
£ | £ | £ |
Residential care fees | 1,281,851 | 882,942 | 2,164,793 |
7. | Support costs |
Governance |
Management | costs | Totals |
£ | £ | £ |
Residential care fees | 857,032 | 25,910 | 882,942 |
8. | Net income/(expenditure) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Auditors' remuneration | 5,775 | 7,200 |
Auditors' remuneration for non audit work | 1,400 | 2,880 |
Depreciation - owned assets |
Equipment hire | 9,725 | 8,570 |
Surplus on disposal of fixed assets | ( |
) |
9. | Trustees' remuneration and benefits |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
Travelling expenses amounting to £388 were reimbursed to two trustees and meals provided to trustees at board meetings and team building events amounted to a cost of £536. The trustees also attended the staff annual event at Aintree Racecourse at a cost to the charity of £3,832. |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | Staff costs |
31.3.23 | 31.3.22 |
£ | £ |
Wages and salaries |
Other pension costs |
1,479,936 | 1,413,284 |
The average monthly number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Senior management | 5 | 5 |
Residential care services | 29 | 33 |
Support staff | 21 | 15 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
31.3.23 | 31.3.22 |
£70,001 - £80,000 |
£80,001 - £90,000 |
£90,001 - £100,000 |
2 | 2 |
11. | Comparatives for the statement of financial activities |
Unrestricted | Restricted | Total |
funds | fund | funds |
£ | £ | £ |
Income and endowments from |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
Expenditure on |
Charitable activities |
NET INCOME |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
11. | Comparatives for the statement of financial activities - continued |
Unrestricted | Restricted | Total |
funds | fund | funds |
£ | £ | £ |
Reconciliation of funds |
Total funds brought forward | 1,025,082 | - |
Total funds carried forward | 1,051,641 | - | 1,051,641 |
12. | Tangible fixed assets |
Short | Fixtures, |
leasehold | fittings | Motor |
improvements | & equipment | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2022 |
Additions |
At 31 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
13. | Debtors: amounts falling due within one year |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
14. | Creditors: amounts falling due within one year |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
15. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
16. | Movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,051,641 | (60,008 | ) | 991,633 |
TOTAL FUNDS | (60,008 | ) | 991,633 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,088,669 | (2,148,677 | ) | (60,008 | ) |
Restricted funds |
Restricted fund | 16,116 | (16,116 | ) | - |
TOTAL FUNDS | ( |
) | (60,008 | ) |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
16. | Movement in funds - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 925,082 | 26,559 | 951,641 |
Designated fund | 100,000 | - | 100,000 |
1,025,082 | 26,559 | 1,051,641 |
TOTAL FUNDS | 1,025,082 | 26,559 | 1,051,641 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,006,452 | (1,979,893 | ) | 26,559 |
Restricted funds |
Restricted fund | 7,000 | (7,000 | ) | - |
TOTAL FUNDS | 2,013,452 | (1,986,893 | ) | 26,559 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 925,082 | (33,449 | ) | 891,633 |
Designated fund | 100,000 | - | 100,000 |
1,025,082 | (33,449 | ) | 991,633 |
TOTAL FUNDS | 1,025,082 | (33,449 | ) | 991,633 |
Mayfield Fellowship |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
16. | Movement in funds - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 4,095,121 | (4,128,570 | ) | (33,449 | ) |
Restricted funds |
Restricted fund | 23,116 | (23,116 | ) | - |
TOTAL FUNDS | 4,118,237 | (4,151,686 | ) | (33,449 | ) |
Designated funds are funds earmarked for the refurbishment of the centre. |
Restricted funds relate to donations and grants received in respect of staff retention and staff costs. |
17. | Capital commitments |
31.3.23 | 31.3.22 |
£ | £ |
Contracted but not provided for in the financial statements | - | 1,877 |
18. | Related party disclosures |
There were no related party transactions during the year other than the transactions with the Trustees as stated in note 9 and the senior management personnel as disclosed in note 10. |