Disabilities Trust


The Disabilities Trust is a charity whose purpose is to relieve people with disabilities in any manner which may be deemed to be charitable, particularly by the provision of special housing units for persons with disabilities in need. The principal activities of DT continue to be the provision of specialist housing and high quality care, rehabilitation and support for people with physical disabilities, autism, acquired brain injury and learning disabilities.

Professional Advisers

Auditors Grant Thornton
Legal Advisers ASB Law
Investment Managers Rathbone Investment Management Limited; Sarasin & Partners LLP


P J Jackson, V Hancox, Mrs A Hancox, Mrs C Yorath, M Hayes, Mrs H S Akester, Dr P Dobrowolski, S Howell, M Rowe, Mrs M Bartholomew, Mrs P E Duffill, D J D Yiend, Ms J C A Foster, M Green


Mr Barrie Oldham (Chief Executive), Sindy Fortescue (Director of Finance), Mr Iain Mackrory-Jamieson (Company Secretary/Head of Compliance)

Investment Policy

The investments held by the charity, having been acquired in accordance with the powers available to the trustees or by way of legacy, performed in line with market expectations. The trustees' objectives are to maximise capital growth whilst maintaining an acceptable level of risk. There are no constraints imposed on the fund managers. In view of the significant fall in interest rates over the past 2 years, the trustees were concerned that the charity's reserves would be eroded by inflation outstripping the interest earned on cash deposits; they therefore made the decision to significantly increase the range of investments held by the charity. In order to achieve this, during the year the trustees employed the services of a financial adviser to advise them on this course of action and to organise the selection of investment managers. This process was finalised in early 2011 with Rathbone Investment Management Limited and Sarasin & Partners LLP being selected as the charity's new investment managers. From March 2011, the investments which had previously been held by Newton Investments Managers Limited and by the charity to its own account were transferred to the new investment managers together with further funds of 17 million. 1.5 million has subsequently been returned as a short term measure, as a consequence of market volatility. Bank deposit interest receivable and dividends receivable increased only slightly during the year, remaining at a low level due to the low interest rates during the year and the fact that the investment changes occurred only at the end of the year; however, the partial recovery in share prices during the year increased the return on investments; as a result the performance of investments exceeded objectives


The charity is governed by its Board ofTrustees which meets at least eight times a year to review the monthly management accounts, to receive reports from the various sub committees and the senior management team and to consider any other relevant matters. The trustees have delegated the day to day management of the charity to a senior management team comprising the Chief Executive and a number of executive directors. The senior management team meets monthly.


The policy of the charity is to expand services to provide the unmet needs of people with disabilities. The current reserves must be sufficient to meet the start-up costs of the agreed expansion of the service programme already approved by trustees and to ensure that the ongoing financial viability of our existing services is adequately financially under-pinned. Due to the volatility of the niche market in which the charity operates, the trustees ideally seek to maintain a level of other reserves equivalent to the cost of covering staff salaries for 6 months which would equate to 14.3 million. The current level of unres tricted available reserves amounting to 22.7 million is sufficient to meet this target and to cover the planned capital commitments of 7.7 million as disclosed in the accounts. The trustees are considering the level of reserves required by the charity bearing in mind the difficulties in maintaining funding levels and are incorporating this into their strategy which will be regularly monitored and modified as appropriate.

General Review

The trustees review the charity's aims and objectives each year. This review looks at what the charity has achieved and the outcomes of its work in the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to those groups ofpeople the charity is set up to help. The review also helps to ensure the charity's aims, objectives and activities remain focused on its stated purposes. The principal funding sources for the fees charged by the charity are local government authorities and Primary Care Trusts. Service users are means tested by these funders to ensure that no-one is excluded from care by reason of poverty. In many cases the charity provides care notwithstanding that funders delay payment pending agreement on inflationary increases in fee levels. The Disabilities Trust Foundation enables the charity to put some of its resources into helping groups who work tirelessly to improve the lives of people with disabilities but who have little or no access to the funds they desperately need. By providing services within its field of expertise, rather than grants, the Foundation concentrates its work on supporting new and existing initiatives that would otherwise find difficulty attracting mainstream or traditional funding. All trustees give their time voluntarily and receive no benefits from the charity, although three are resident service users, funded in the usual way. Any expenses claimed from the charity are set out in the financial statements. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.

32 Market Place
Burgess Hill
RH15 9NP

Tel: 01444 239123
Fax: 01444 244978


CC number: 800797

Performance Guide Rankings

investment assets 445 / 1000
investment income 995 / 995
return on investments 995 / 995
investment management costs 642 / 743
inv mgmt costs as % of inv assets 650 / 743

inv mgmt costs as % of inv income 730 / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments 632 / 661
income from short-term investments 74 / 726
listed investment inc as % of inv income 660 / 661
short-term investment assets 185 / 988

legacy income - / 226
grants received 63 / 88
total voluntary income 402 / 628

grants made - / 668
charitable expenditure 51 / 638
charitable expenditure as % of total expenditure - / 335
support costs - / 230
management & administration fees 93 / 970
audit fee per £m of income 761 / 949

total incoming resources 75 / 1000
total resources expended 78 / 1000
total assets 219 / 1000
period ending 2010 2011
legacies - -
grants 0.20 0.15
other voluntary income 0.15 0.23
total voluntary income 0.35 0.38
activities, furtherance of charities objects 46.18 46.80
activities for generating funds 0.03 0.02
trading subsidiaries - -
sales and fees from operating activities 46.21 46.82
investment property - -
dividends 0.05 0.06
total listed investments 0.05 0.06
income from subsidiaries - -
interest on cash & short term inv 0.24 0.25
total investment income - -

fundraising costs 0.06 0.06
investment management costs 0.01 0.02
Investment costs 0.01 0.02
cost of generating funds 0.06 0.08
activities, furtherance of charities objects 37.50 38.69
management and admin 0.22 0.29
total charitable expenditure 37.71 38.98

ASSETS £m £m
intangible assets - -
tangible fixed 39.94 41.62
equities - -
bonds - -
listed investments 1.16 18.62
subsidiary or associated undertakings 0.00 -
investment assets 1.16 18.44
other fixed assets - -
total fixed assets 41.10 60.06
stock 0.12 0.13
debtors 5.33 6.41
cash 21.83 8.05
current assets 27.29 14.59
bank loans & overdrafts - -
trade & other creditors, accruals 5.66 5.60
creditors falling due within one year 5.66 5.60
net current assets 21.63 8.98
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year - -
provisions for liabilities and charges 0.19 0.33
TOTAL ASSETS 62.54 68.71

ASSETS £m £m
income funds - -
endowment funds - -
restricted funds 6.04 7.89
TOTAL FUNDS 62.54 68.71