Vranch House is a centre for the treatment of over 2,000 outpatients with physical difficulties, a provider of various therapies throughout Devon and an independent Day School in Exeter for children with significant physical difficulties.

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Last updated: 17/01/2019

Chief Executive's Report 2011

Financial Information abstracted from the Audited Accounts for the year ending 31 March 2011

The figures used in this article are taken from the Auditor's Report for the 2010 - 2011 Financial Year. The headline financial news is included in the report of the Directors and Trustees but the following financial information is worth high lighting:

  • Income rose from £1,255,887 to £2,006,039 as a result of our fund-raising for the new Specialist Children's Assessment Centre project which commenced in July 2010 (£667,000 from a single donor and £83,000 from other sources). Debtors increased from £34,162 in 2009-2010 to £135,352 but much of this results from pre-payments generated by the building project.
  • Net Current Assets decreased by £101,073 to £764,574 because the draw-down for the build is out-of-phase with the funding tranches, the last of which will not be received until the 2012-2013 Financial Year.
  • Tangible Fixed Assets rose to £1,653,464 from £791,118 in the preceeding year and Total Funds Employed rose from £1,656,765 to £2,418,038 in the same period. 
  • With all Restricted Funds discounted as spent, the Society made a net cash surplus over the year of £94,273. This will be used to part-fund the completion of the new building next year.
  • We have maintained the high number of pupils in the school and outpatients seen by the clinic whilst continuing investment in the buildings at Vranch House and in the Inclusion and IT services.

The Trustees agreed a programme of capital investments for the Financial Year which provided for continuing maintenance of the Vranch House estate and for the competion of the New Honeylands building. This project once completed will cost £1.8m but purchase of the freehold title of the site will mean that for the first time in the 50 years of its work, the Society will enjoy the asset value of all the buildings on the Vranch House site.

Profit & Loss Account:

profit loss

Summary of Key Financial Ratios

financial ratios

Notes: 1. The recommended methods for calculating Administrative Costs changed in 2005.

 

Income & Expenditure Trends

trends

Notes: 1. The Auditor's Report for 2009/10 is available on request at a cost of £2.00 per copy but may be viewed at no cost but by prior arrangement at Vranch House or on the Charity Commission website at www.charitycommission.gov.uk.

 

Future Plans

The charity's strategic objective for the next five years is to establish, embody and develop a new partnership with Devon County Council and NHS Devon. The immediate objective is to complete the construction of a brand new £1.8m Specialist Children's Assessment Centre to replace the old Honeylands (by June 2011) and to purchase the freehold title to the land on which this development and Vranch House sit (by April 2012). In the interim we will complete negotiations on leases and licenses with the Royal Devon & Exeter NHS Foundation Trust to facilitate the new build. Negotiations with NHS Devon and Devon County Council on a new unified contract for all Vranch House services continues with a target inception date of April 2011. This work is not simply a matter of establishing a contract for existing services but seeks to incorporate some significant future developments in our voluntary/statutory partnership.


Graeme Wheeler

Chief Executive