Trustees’ Report and Financial Statements for the year ended 31 December 2019 Licensed Trade Charity Trustees’ Report and Financial Statements 2019 1 Working together A unique, positive education for young people on the autism spectrum 2 Licensed Trade Charity Trustees’ Report and Financial Statements 2019 Reference and administrative details of the Charity, its Trustees and advisors for the year ended 31 December 2019 Trustees Chief Executive Officer Anita Adams (Chairman – Ascot Governing Body) James Brewster Tracy Bird (Vice Chairman – Hassocks Governing Body) Charity Registered Number Jeff Booth (Chairman – Events and Promotions) 230011 Roy Boulter (Chairman) Toby Brett (Vice Chairman – Membership) Registered Office Gerry Cleary Heatherley, London Road, Ascot, Berkshire SL5 8DR Pat Duddy (Vice Chairman – Charity Services) Ludovick Halik (Vice Chairman – Oxford Governing Body) Auditors Mike Hill (Chairman – Hassocks Governing Body) James Cowper Kreston, Reading Bridge House, Ian Inder (Vice Chairman – Events and Promotions) George Street, Reading, Berkshire RG1 8LS Annette King (Chairman – Charity Services) Bankers Anthony Mears Metro Bank Plc, 2-24 Farnham Road, Jeremy Phillips QC Slough SL1 3TA Peter Raynsford (Chairman – Membership and Chairman – Pension Committee) Solicitors Pauline Ross (Chairman – Oxford Governing Body) Hunters, 9 New Square, Lincolns Inn, London WC2A 3QN Trevor Sparks Paul Wigham Licensed Trade Charity Trustees’ Report and Financial Statements 2019 3 Contents 1 Message from the Chairman 2 Chief Executive’s Report 4 Trustees’ Report 21 Independent Auditor’s Report 23 Consolidated Statement of Financial Activities 24 Consolidated Balance Sheet 25 Charity Balance Sheet 26 Consolidated Cash Flow Statement 27 Notes to the Financial Statements 4 Licensed Trade Charity Trustees’ Report and Financial Statements 2019 Message from the Chairman William Roy Boulter Chairman of Trustees Each year when I write my introduction to the annual report and accounts, it gives me the opportunity to review not only the performance, but also the progress that the Charity has made. Since my appointment as Chairman, I have themselves in a vulnerable position. I would like to witnessed the concerns that many of our pass on my sincere thanks to all our supporters, beneficiaries have faced with an increase in volunteers, trade partners, staff and of course, health issues, financial constraints and housing my fellow Trustees for their continued support pressures. The general economic situation has and commitment. continued to present a number of challenges, It is very easy to take for granted the work that the mainly driven by the uncertainty over Brexit, Licensed Trade Charity undertakes, but it would however with the movement into the transition be of little effect if we did not have the structure, period, stability has started to return. I am resource, commitment and passion for all the extremely pleased with the way in which our senior activities we undertake. As an organisation, the management have handled this period, with full highest levels of governance are adhered to, support from my fellow Trustees. Of particular through our Trustee Body and committees, our importance, we have been able to deliver the professional staff, suppliers and partners who correct level of support to all our beneficiaries. are all committed to the highest level of service The financial performance of our schools has standards. This ensures that our customers and certainly met our objectives, whilst continuing to beneficiaries receive the best possible service that deliver first class education with some exceptional influences their lives in a very positive way. outcomes. Other operational activities delivered We will continue to invest in our properties, through our trading subsidiary, Elvian Limited, also infrastructure, human resources, training and continue to deliver some remarkable results. Our new service solutions for those in need. As I investments have performed, generally, in line with write my report, the financial year 2020 brings a markets and the diversity of activities has offset massive world challenge in the form of Covid-19. most of the challenges that a number of individual The Licensed Trade Charity has always had an markets have faced. investment strategy that spreads both risk and During my time in office, I have been extremely reward to ensure that with turbulence in market proud of the work we undertake, and I have had conditions or operational seasonal and economic a vision that the Charity should be in all the trade challenges, that our balanced portfolio evens out companies’ everyday business language. I am peaks and troughs. With over two hundred years delighted with the progress we have made in history, the Charity has never had to face the this area. Most importantly, we have helped over challenges that Covid-19 has manifested, 23,000 individuals – something we should all be with every operational or investment income extremely proud of. severely affected. The Licensed Trade Charity delivers not only an I have every confidence with our strong management emergency service to many, but has developed team having to deal with unprecedented some outstanding preventative solutions to circumstances and calls upon our services that assist individuals and organisations who find the Charity will recover over the next few years. Licensed Trade Charity Trustees’ Report and Financial Statements 2019 1 Chief Executive’s Report James Brewster Chief Executive The Annual Trustees’ Report and financial statements gives our members, supporters, employees, volunteers and partners the opportunity to review the past year’s financial and operational performance. Each year, we encounter a number of new The support and service that we have delivered challenges with an ultimate goal of supporting during the year has been further enhanced by the more individuals, either currently working or having partnerships we have established, whether that previously worked in the licensed trade, who are be for specialist housing support, critical incident facing difficulties. I am delighted with the outcomes support, mental health training, employment that we have achieved, and the record number of advice, debt management or counselling services. individuals helped. We are particularly grateful for the professional support we have received from our many partners The key for the organisation is to deliver the service and especially the financial support provided by that matches the needs of those we help. I am the Worshipful Company of Innholders for the delighted that we have assisted some 23,000 mental health training programme that we have individuals during 2019. This has been achieved provided to the trade. Our Charity Services and through a series of bespoke service solutions, Marketing teams have continued to engage from increased fact sheets on our website and with pub companies and have established very signposting to the appropriate support services, strong relationships and partnerships, improving including our helpline, financial support and mental awareness of the work the charity undertakes to health support. levels well beyond our expectations. We were delighted that so many of these companies joined us for our AGM and Volunteer Awards Dinner held in Milton Keynes. Our three schools have continued to face a number of challenges, particularly during the past year of uncertainty through the Brexit process. With greater certainty and confidence, this should improve the outlook. LVS Ascot, whilst slightly behind our budget, has performed better than we forecast during the year, which included the impact of the increase in employers’ contribution to the Teachers’ Pension Scheme. We continue to optimise costs whist endeavouring to retain pupil numbers. We were delighted that the school is compliant in all areas following a recent Independent Schools re- inspection. 2 Licensed Trade Charity Trustees’ Report and Financial Statements 2019 LVS Hassocks has performed better, both Investments have faced a number of challenges operationally and financially, due to a strong with paper investments returning a good management team who have certainly put the performance following a difficult previous year. school back on track to return, during the next few Our property investments, however, did not fare as years, to a healthy operational surplus. well compared to the previous year, demonstrating the need for a mixed investment portfolio to give a LVS Oxford continues to perform, both financially balanced return over the longer term. and operationally, to a very high level and has a sound reputation as a centre of excellence. Whilst my update for the annual report and accounts was written prior to the escalation of the We continue to invest in the facilities at all our sites impact of the Covid-19 outbreak in the UK, the with not only the essential day-to-day maintenance, charity is now having to adapt to not only working but also enhancements such as the upgraded staff remotely, but at the same time reacting to the common room at Ascot. very different demands placed on the Charity. The Our trading arm, Elvian Limited, continues to deliver uncertainty that this places many organisations a very positive contribution to the Charity, with the and our customers in, means that as a charity exceptional performance at Oxford through the we need to adapt to the economic impact this will letting arrangements for the residential facilities. have upon us and