OUr Finances

When you support Quarriers, you are supporting a team dedicated to helping others. Admin and running costs are kept to a minimum. Nine out of ten staff deliver frontline social care services, with the rest performing support roles.

2021/22 proved to be a significant year as we contended with managing the impact of Covid-19. The pandemic continued to have a significant impact on workforce availability and resilience. Despite these challenges, we are proud to say that we managed to avoid any service closures across the year. We continued to deliver high quality care and support across all of our services and opened two new youth homelessness services in Dumfries and Galloway and in South Ayrshire.

In 2021/22, we continued to focus on making Quarriers a great place to work. We invested heavily in front-line pay, introducing a new minimum hourly rate of £10.50 per hour, taking us 60p per hour above the Scottish Living Wage. For this reason, and our wider investment in training and development, we managed to retain our platinum Investors in People accreditation.

We also continued to make steady progress in building organisational sustainability. Following two difficult years from 2018-20, we have succeeded in returning a modest surplus for the second successive financial year, which we can reinvest in the organisation and make progress in rebuilding our reserves. This involved making some tough decisions around participation in the national redress scheme, and while there is more to do, 2021/22 represents a solid financial performance in difficult times.

Chief Executives Report extract from the Quarriers Annual Report and Financial Statements (For the year ended 31 March 2022)

Quarriers Pension Scheme

Statements of Investment Principles and Implementation

Statement of Investment Principles (‘the SIP’) is required under Section 35 of the Pensions Act 1995 for the Quarriers Pension Scheme (‘the Scheme’). It describes the investment policy being pursued by the Trustees of the Scheme and is in accordance with the Government’s voluntary code of conduct for Institutional Investment in the UK (“the Myners Principles”). This SIP also reflects the requirements of Occupational Pension Schemes (Investment) Regulations 2005.
Updated September 2021

This Implementation Statement provides information on how, and the extent to which, the Trustees of the Quarriers Pension Scheme (“the Scheme”) have followed their policy in relation to the exercising of rights (including voting rights) attached to the Scheme’s investments, and engagement activities during the year ended 31st October 2022 (“the reporting year”).  In addition, the statement provides a summary of the voting behaviour and most significant votes cast during the reporting year.