Chescombe Trust Limited IA company limited by giiaranteel Trustees, Report and Financial Stateinei)ts for tlie Year Elided 31 March 2025 Reglstered nuniber: 02585927 Charity number: 1002187
Chescombe Trust Limited Contents Reference and administrative detalls of the charitable compaiiy, its Trustees and Advisers TrLlStees' reporl 2to9 Statement of Trustees, Responsibilitles io Indepeiident ALiditors' Report Ilto14 Stalemei)t of Flnancial Activlties 15 Balance Slieet 16to17 Statemeiit of Cash Flows 18 Notes to the accounts 19to33
Chescombe Trust Limited Reference and administrative detai15 of the charitable company, its Trustees and Advisers Ti'ustees A J C Healy, Chalr D A Jones D M Tremayne D W J Ander50n G Rsilver S Vyas Company Reglstr¥tion Number 02585927 Charity Registratlon Number 1002187 Reglstered office 168 Gloucesler Road Patchway Brlstol BS34 SBG Secretary C M Panter Chlef Executive Officer P Morrls Audltor Corrigan Accountants Llmlted 1st Floor 25 Kin8 Street Brlstol BSI 4PB Senlor Management Team J Pearce, Reglstered Manager and House Manager C Horn, House Manager C Cook, House Manager P Morris, Reglstered Individual C Panter, Flnance Manager Page I
Chescombe Trust Limited Trustees, report For the yearended 31 Marcli 2025 The Trustees present their aiinual report togetlier with the audlted finaiicial Statements of the Company for the year l April 2024 to 31 Mai'ch 2025. The Ai)nual report serve5 tl)e purposes af botl) a Trustees, report aiid a direcloi's, reporl linder company law. The Trustees conflrin tlial the Aniiual report and financlal statements of the Lharitable coiiipany coinply with the curreiit statutory re.quiremei)Is, the I'equlrements of the charitable company's governing docuinent and tlie provisions of the Stateinent of Recommended Practice ISORPI applicable to charities preparing their accouiits in accordance wlth the Flnancial Reporting Standard applicable In tlie UK aiid Republlc of Ireland IFRS1021 (effectlve l January 20191. Since the Company qualifies as small under sectlon 382 of the Companies Act 2006, the Sti'ateglc report reciulred of medium and large companies under the Companies Act 2006 {strategic Report and Directors, Report) Regulations 2013 Is not presented. In 5ettlng oblectlves and plannlng for activltles, the Trustees have given conslderation lo geiiei'al guidance publlshed by the charltles comfflisslon relatiiig to publlc beiiefit, includli)g the guldance 'public beneflt,. runi)ing a charily IP821'. Chair's Report: We l)ave remalned at full capaclty of 19 resldents, and the re51denls remalii unchai)Eed. Cliescombe contlnue5 lo offer a programme of actlvltles, includlng muslc, crafts and clnema for all I'e51denls lo enloy. There is a good sociable community bath in the houses and between the three liouses. Chescombe belleves It Is Important for residents to be glven the opportunlty to go on holiday, and many of them take advantage of thls. Desplte the demands on cash, we continue lo finance resldents if necessarv, Recrultlng sta ff Is stlll challenglng, however, the rate of turnover has reduced and we are close to our requlred stafflng level, reducing the need for overtlme and agency. Chescombe continues lo try to maintaln remunerhtion levels at a margln above the livln8 wage to incentivise and I'etaln our exlstlng staff and to recruit new staff when vacancles arise, Due to tlle rlse in the 'living wa8e', Nl contributlons and inflatlon., we are constantly revlewlng the fees we receive from the local authorlties. There has been a move by some loca l authorltles to homogenise Ilielr methodology of assesslng fees, this has Inade oiir fee proposal to the COLinclls Somewhat easler to prepare although thls process needs to stabilise. Local authority budEets are tight, and thls process Still takes a significant ainount of Chescombe resource, despite thls, our relatlonsliip witli local autliorltles 15 posltlve, Cliescombe purchased Pinnacle House last year, which is a property adjolning the Trusts boundary. It Is planiied to convert th15 biiilding Sn to separate 5elf-contained flat5 and offer these to the Local Autliorities for supported livlng accommodatlon. Page 2
Chescombe Trust Limited Trustees, report For the year ended 31 March 2025 The Board aiid Staff, with support from South Gloucestershire and Bristol County Council have provided Buidaiice to the Architect wlio has produced a plan wliich has been submltted to South Gloucester511ire Couniy Couiicil for planning approval, Meetings continue with Local Authoritle5 to ensure that we provide the necessary facillties to rneet the supported living requirements. l. Trust Alms & Objectives Chescombe provides a comfortable, homely envlronmeiit In whlch Individuals are Supported to develop thelr personal skills In a community living setting, whilst maxlmising thelr poteiitial to live a safe, fulfilllng and happy lifestyle. Our Inspectlon ratln8 by Ihe CQC is 'Good' across tlie board for our care. We adhere to the above phllosophies, and work with each Indlvidual uslng a person-centred approach. We develop Personal Care Plans for each re5idenl whlch identify each person's esseiitlal life style needs and aspirations. We then dellver the approprSate care In accordance wlth that care plan. 2. Chescombe History Chescombe Trust lias been provldlng a safe, comfortable and stlmuSatlng home envlronment for adults wlth severe learnln8 d153bllities 51nce 1991. In 2011 we moved from a large Victorlan bulldlng Into our current purp05e-bLiilt facllltle5 conslstlng of 3 homes aiid 3 5elf-contaiiied flats. These srnaller unlts provlde an environment whlch15 more like a home than was possible in the previous property. 3. Structure, Governance and Management The company Is re8lstered as a charltable company, limited by guarantee and was set up by a Memoranduin of Assoclation on 27 February 1991. Chescombe Trust Is eoverned by a Board of 6 Trustees, from commerclal buslne5s, Industry, and heallhcare, whose ski115 and experSence beneflt the Trust. It has executlve control over finances and offers support to the CEO & Flnancial Manager with respect to bijslness operatlons. All spends over an agreed amount must be put to the board for authorisatlon. Strategic guidance is also provlded by the Board wlth respect to the changing environment In whlch the Trust has to operate. The Board also provides support In respect of regulatlons as set out by the CQC and In developlng the Care requirement5 of the Trust. The Trustees hold board meetlngs every one to two months in which dlscusslons on the operatlonal and strategic needs of the Trust are discussed. An agenda15 issued prior to the meetlnE and decision5 made are recorded iii tlie Ininutes. If needed the Board wlll vote to come lo a decisioii, but Usually a coiisensus 15 reached. Communicatlon outslde of the Board meeting Is via email and telephone. Indlvldual boa rd members regularly vlslt the slte to discuss various issues, and ad hoc meetlngs are held as requlred. The management structure of the Trust is as follows: Page 3
Ches¢ombe Trust Limited Trustees, report For the year ended 31 March 2025 Chief Executive Oflicer and Nominated Individual with CQC - Phllip Morris, who lias overall operational respon51bility and Ilne responsibility for the managers Registered Manager wlth the CQC and Lead House Manager- Jo Pearce, House Manager ofTreetops House Manager- Chrls Cook, House Maiiagerof Lavei)der Lodge House Manager- Clare Horn. House Manager of Orchard14oiJse Flnanclal Manager- Catherlne Panter, Financlal Manager Pay and remuiieration of key Inanagement personnel are Sel l)y revlewing the market place for posts witliln the care sector and taking approprlate decisions accordingly. 4. Governance and Quallty Assurance As <7 Reglstered Care Home, Chescombe Trust 15 required to meet the standards set out by the Care Qtjality Comm15sion, Is currently rated as 'Good' and works continually to maliitaln and Improve the qlialily of care il provides. Prospectlve TrLlStees are Sdentified by existing Trustees, They are initlally Invited to a Board meetliig as observers. The current Board members are introduced and pollcles and workli)g practices explalned, If agreed by the Board, they are then invited to thls role. All the Trustees glve thelr time voluntarlly. Trustees may clalm relmbursement of their travel expenses. There were no Trustees, expei)ses In tl)e year. There is iio tiine Ilmit to servlce on the Board either as a Trustee or as Chalr of Trustees, bul all members need to stand for re-electlon every 2 years, Tlie Trtis lees have assessed the major rlsks to whlch the company is exposed, in partlcular Ihose related to thp operations and fiiiances of the company and are satlsFled Ihat systems and procedures are in place to mitigale OLir exposure to the major rlsks. The Trust malntalns a comprehenslve Risk Assessment Review document which15 reviewed on a regular basis and updated 3nnu3lly in February. Withln the Risk A55essment Review document, a Risk Reglster is mainlaiiied coverliig l. Strate8lc & Reputatlonal Rlsk. 2. Operatin8 Rlsk. 3. Compllance Rlsk and 4 Financlal Rlsk. The Trust's Insurances are reviewed by way of face-to-face meetlng and slte vislt with an Iiidependent broker and cover Is Increased as necessary In Ilne wlth currei)t financlal performance and assessed rlsks. This is backed up by v151ts from Eccleslastical Insurance who carry out a site survey and examlne our records In respect of fire alarm lestingi gas certificatlon etc. Page 4
Chescombe Trust Limited Trustees, report For the year ended 31 March 2025 5. Suinmary of Changes for 2024125 Purchase of Pinnacle House The Planning Appllcatlon for tlie layout of Pinnacle House to convert this biiildlng In to separale self-conlained flals has been submltted. Questlons ralsed by the various Soutli Gloucestei'sliire Planiiln8 Departinent5 are bein8 addressed, Residents The Trust continues lo support those resldents who wish to go oli holidav PlniiJcle liouse 15 Used fortnightly for singlng sessions • Ci'aft sesslons have begun agaiii wl)en timlng suitable Daily ou Ilngs aiid trips continue • A boat trip Is planned for in the summer Weekly swlmmlng session5 occur for some residents. Some service users have had aromatherapy massages from an external provlder Trips lo tlie cinema and theatre Cooking sessions Slte General refresh of rooms ha5 taken place across the 51te.to maiiilain fresh and pleasant surroundlng5 Resident bathroom converted to a wet room to help wlth accessibility Treetops have had a stair lift fitted 2 'RaSzer' chairs were bought For the slte to aid In Ilftln8 residents that have fallen Stafflng A long-time member of staff who served 34 year5 as a House Manger and then Adminlstratlon off Icer has rellred A replacement for the Administration Offlcer has been employed and has started work Staff continue to undertake Diplomas in Health and Social care dellvered by an external provlder A Salary Increase of 8.3% was awarded to staff In April 2024 aiid 8.0% in Deceinber 2024 to contlnLie to stay ahead of the Liviiig Wage legislation and inflatlonary cost felt by our staff and to compete with other seclors vylng for staff All staff recelved a Chrlstmas bonus of £75 Monthly drivln8 incentive has been Increased tu £80 to encourage drivers Monthly thinklng meetings have rÈ5umed where staff discuss potential activltles or otlier Issues Local Authority Managers contlnLie to work hard on revlews for resident funding, We have had successful fee revlew5 Includlng backdated income from Bristol Clty Council. Fundraislng Car bool sale planned In 2025. Page 5
Chescombe Trust Limited Trustees, report For the year ended 31 March 2025 6. Financial Review The Ti'LlSt has a f inanclal regime Ihat operates In accordance with modern working pi'actlces; all speiiding is fully transparent, accountable and attributable. The use of cash as a spending medlum is liinited. Managemeiit arcoiiiits are produced in house on a monthly basi5 and are reviewed in depth by the -I'rustees for accuracy and an exlernal aLcoiinlant on a quarterly basis. Access to residents, accouiils is eleclrunlc and on an aLidltal)le basis. 5crulinised by two officers of the Trust. Tlie Trust is fiilly awai'e of its Incoine and expenditure as it arises enabling complete understanding of Its finaiiclal positloi) oli a monthly bas1S, 6.1 The financlal higlillghts of 202412025 liave heen: Fee Incoime from cliaritable activities: E2,306,239 up from E2,252,136 {20241. Costs.. £2,225,641 up froin £1,999,540120241. Surpliis befoi'e donatlons ai)d Personal Independence Payments {PIPI IiicoiMe £105,579 12024.. £252,596). Total surplus £162,407 down £162,221 from a total surplus of E324,628120241, It is tlie Trustees, pollcy to ensure that the Trust Ss In a positive fliianclal position l)a5ed on fee Income 01)ly, before voluntary donations are 3ccounled for. Voluntary donatioiis should be used to eiihaiice the e.xperieiice of our resldents and The Trust should i)ot be dependent on these to provlde the baslc needs of the resldei)tS, Our fee Incoine surplus Is currently below our target due to the Increased cost of care for our resldents. We are currently in ne8Otlatlon with the relevant local counclls to increase fees to matcl) Ilie care requlred. Long term debt finance,. Reduced by £3.61212024.' £116,493 reductlonl Donations and legacies Incoine- £25,62112024: £5, 1771 PIP Income.. £56,18212024: £55.861) The Trustees are aware tl13t the introduction of the livlng wage presents a serlous challenge to the flnancial stability of the Trust. The Trust is continuing to make progress agreelng new fees with local autl)oritles in accordance with the wage Increases and recognlse that thi5 process wlll take tlme to complete. The Trust will contlnue wlth the pollcy of fundlng the care of the resldents from fee Iiicome, and capital expenditure from donatlons or allocated capital withln the reserves, thu5 ensuring the loiig terin security, for the beneflt of Ihe current and future resldents. Although we foresee interim period5 where reserves may have to be utllised, these periods will be kept to a minlmum. Page 6
Chescombe Trust Limited Trustees, report For the year ended 31 March 2025 6.2 Reserves Free reserves IE178,6661 dre defined as uni'estricted funds available for spending aiid are calculated by lal(ing the total unrestricted funds of tlie charily E3,169,514 12024: £3.oofJ,2421 aiid deducting any balance5 llot available for spendlng i.e. lixed assets of £2.990,84812024.. £2,969,006). For the purpose5 OF short and medium term financlal management. the trustee5 are concerned more wltli Ihe managemei)l of working capital. The healthy working capltal posltlon Is entirely in Iliie wlth thelr policy ol l)oldiii8 free resources sufficlei)t to fund the eventuality of a Inaterial decline iii incoining resources. The Trust liave assessed the p05slble loss of income with a view to what the1Skely maximum loss could be in the sl)ort to Inedium term barrlng complete disaster. This has been assessed as a loss of one third of tlie resldents wltli a commeiisurate drop in income of £63.000 per Imonth. Post covid tl)e trust has re-assessed tlie Ilkely losses incurred during tlie periud when Ihe fee negotiations are being carrled out. The Trust has a cash reserve pnlicy to four months of reduced income1£252,0001 with variance of +1 E20,000, giving a lolal reserve of £228,000 to £268.000. Tl)is. Iii Lhe opli)ion of Ilie Trustees, would give adequate tlme to adjust the tru5t5 Costs, complete fee negotiallons and/or fill 501ne of the vacancies. In the period, the cash reserves were reduced below Ihis value for a perlod of tlme, due to the purchase of a further property. The Trustees put in place alternalive measures dufln8 Lhis perlod to ensure cash was available If needed. The excess cash bullt up over prevlous years has now been utlllsed to purchase a new property as iioted above, this property is planned to be used to provide a supported livlng faclllty, The Trustees revlew the reserves policy In an annual basls. Total funds l)eld by the charity at 31 March 2025 were E3,276,58112024: £3,114.1801 of which £107,067 12024: £108,938) is restricted. 'fhe majority of these funds, restricted and unrestricted, could only be realised by the sale of the property and other assets. Page 7
Chescombe Trust Llmlted Tru5tees' report For the year ended 31 Marcli 2025 7. Goa15 and plans for the coming year We liave developed a coinpreliensive business plan for the iiext 5 to 10 years. The priorltles wlthin thls plan, wlilch will be the focus for the year, include.. malntaining the higli quality ol care and planiiing for end of life care wliere appropi'iate; complelii)g the staff grading and salary sti'ucture,. ensuririg api)ropi'iate and adequate fundin@ for all residents from tlie Local Autl)oritles' to use the fuiidlng to Improve tlie Ilfe experlence of our residents. In addllion to the above we will be developing a seven flat facillty for supported living dlrectly adjacent to our site, wldening our servlce provislon to ald those in need. 7.1 Maintalnlng the quality of care The Trust wlll contlnue to provide stlmiilation and entertalnment for Its resldents. 'fyplcal events are., Barbeques when the we<ilher permits. Blrthdays and partles Foi speclal events and celebrations. Montlily 51nging sessions. Local sports facllltles also allow the offer of swimmlng. Weekly shopping trlps, lunches OLtt and clnema vlsils also ruli alongside dally outlngs for all rpsldents. We w511 continue to offer all residents the opportunity to take a summer holldav 15ublecl to Governme17t and CQC guidance) 511 pported by the Trust. Several residents are also supported by tl)e Trust to take home visits to their families in order to maintain famlly relationships with parents and slbllngs. 7.2 Staff Gradlng and Salary Revlew H15torical grading and salaries anomalles contlnue to be removed as staff turiiover and pay rlses permit. Senlor staff salarSes are compared agalnst similar posltlons Iii the approprlate sectoi. and by reviews wltli the mai)ager5. However, the annual Increase in the 'llving wage, wlth tlie flnaiicial constrainl5 from Local Councll fiindlng means increases in salaries are limlted. 8. Fundraislng As easement occurs fundraising events are belng explored. Various Car Boot Sales Monie5 rai5ed/donated by re51dents' faiiiilies 'rhe eveiits are organised and run by the staff and volunteers of Chescombe Trust. The Trust does not employ professional fundraiser5. The Trust has complied with fundraising standards and fundralslng regulations. Flindralsing actlvlty by the Trust from the Public is monltored by the Board of Trustees and the Trust's Finance Manager. No complaints have been received by the Trust regardlng Its fui)draising actlvllies. Page 8
Chescombe Trust Limited Trustees, report For the year ended 31 March 2025 Dlsclosure of liiformation to auditors Each of the persons who are -frustees at the time when this Truslees, report Is approved has confirmed that: So far as tliat Trustee is aware, tl)ere Is no relevaiit audit information of whicli the chai'ltal)le company's audltors are unaware that Trustee has takeii all tlie sleps that 11)ey ought to have been laken as a Ti'ustee Iii order to be aware of any Information needed by the charitable compaiiy's audltors in Connectlon witli prepai'lng thelr report and to establisli that the charitable company'5 auditors are aware of that information. In preparlng this report, the Trustee5 have lakeii advantage ol the small companles exemplloiis provlded by sectioi) 415A of the Companies Act 2006. Audltors Tlie audltors, Corrlgan Accouiitants Llinlted, have Indlcated their willingness to continue In office. The designated Trustees wlll propose a motioii reappolntlng the audltors at a meeting of the Trustees. Approved by the Trus eson :7...¥and signed on its behalf by: Hedlv ir of Trustees Page 9
Chescombe Trust Limited Statement of Trustees, Responsibilities For the year ended 31 March 2025 The Trustees (who are also the director5 of the charitable company for the purposes of company lawl a I'e respuiisible For preparing tlie Trustees, report and the financial staleinents in acrordance witli api)licable law arid Uiilled Kingdoin Accountlng Standards IUnite(l Kingdom Generally Accepted Accouiitlng Practicel. Compariy law requlres tlie Trustees to prepare fiiiancial statements for each financlal year, Under campany law, tlie Triistees miist iiot appi'ove the finaiicial stateinei)Is unless they are satisfied tliat tl)ev give a Ii'lie and fair view of the state of 3ffalr5 of tlie cliaritable company and of Its incon)ing resources and appllcation of resources, Includlng its income and expenditiire, for thai peilod. In preparing these flnancial statements, the Trustees are required to: select sultable accounting policies and apply them consistently,. obsei've the methods and prlnciples of the Charlties SORP IFRS 102}; make ILidgements and accounting estimates that are reasonable and prudent. state whether appllcable UK Accounting Standards IFRS 1021 have been followed, subject to any material dep¢irtures dlsclosed ancl explained in the (iiianLial stAteinenls' and prepare the financial statements on the going concern basls unless it Is inappropriate to presume that charltable company wlll contlnue In buslness. The Trustees are responsible for keeping adequate accounting records tliqlt are sufflcient to sliow and explaln the charltable company's transactions and dlsclose with reasoii¢ible accuracy at any liine the linai)cial positlon of the charitable company ai)d enable theni to ensure tl)at the fSiiancial statements comply with the Companles Act 2006. They are also responslble for safeguarding the assets of the cha rltable company aiid henr.e for taking reasonable steps for the preventlon dnd delecllon of frdud and other Irregu larilies. Page 10
Chescombe Trust Limited Independent Auditor's Report to the trustees of Chescombe Trust Limited Opinion We have audlted the financial statements of Chescombe Trust Limited {the 'charltable cornpany'l for the year elided 31 March 2025, whlch comprise Ilie Stalement of Financial Activities, Balance Sheet, stateinenl of Cash Flows, ai)d tlie related notes includlng slgnificant accoiiiiting poliLies. The finai)cial reporting framework that lias been applied in their preparation 15 applicable law and United Kingdom Accountlng Standards, Including Financial Reporting Standard 102 'Tlie Financiol Reporting Stai?dard applicable In the UK ond Republic of Irelond'lunited Klngdom GenerallyAccepted Accounting Practicel. In our opinlon the financial statements: glve a true and falr vlew of the state of the charllable company's affair5 as at 31 March 2025 and of its Incomlng resources and appllcatlon of resources, Including Its Income ond expendlture for the year theii ended,, have been properly prepared in accordance wlth United Kingdom Geiierally Accepted Accounting Practlce. and have been prepared In accordance with the requlrements of the Companles Act 2006. Basls for opinion We conducted our audit In accordance with International Staiidards on Auditlng IUI<I {ISAs IUK}l and appllcable law, Our responslbllltles under Iliose standards are further described in il)e Audltor's responsiblllties for the audlt of the Flnancial statemeiits section of our report. We are Independent of the charitable compai)y In accordance wlth tlie ethical requlrements thal are relevaiit to our audit of the lii)anclal statements in.the United Kingdom, including the Financial Reporting Council's Ethlcal Standard, and we have fulfilled 'our other ethlcal responsibllities In accordance wlth these requirements. We belleve that the aiidlt evldence we have obtained is sufflcient and appropriate to provide a basls for our opinion. Conclusions relatlng to golng concern Iii auditlng tl)e flnancial statements, we have concluded that the Trustee5' use of the golng concern basls of accountlng In the preparatlon of the finaDclal statements is approprlate. Based on the work we have performed, we have not Identifled any materlal uncertalntles relating to events or conditlon5 that, Iiidividually or collectively, may cast signiflcant doubt on the cliaritable company's ability to continue as a going concern for a period of at least twelve months from wlien the flnancial statements are authorlsed for155ue. Our respon5ibllities and the responslbllitles of the Trustees with respect to going concern are de5crlbed In the relevant sectians of thls report. Page 11
Chescombe Trust l.imited Independent Auditor's Report to the trustees of Chescombe Trust Limited Other iiiformation Tlie otlier infoi'matlon comprises tlie information included in the annual report, other than tl)e fill31)cial staterlients and our Auditor's report thereon, The Trustees are responslble for the other information coiitained withln tl)e annual repart. Our opinion on the financial 5tatemeiits does liot cover Ilie other Information and, except to tlie exteiit otlierwise expllcitly stated in our report, we do iiot express a ny forin of assurance conclusloii therean. Our responsibility Is to read the otlier informatioii and, in doing so, coiislder w17ether the other informatlon is Inaterlally inconslstent wltli the fiiiancial stafements or our knowledge oblalned In the course OF the audit or otlierwise appears to be materially misstated. If we idei)Ilfy sucli matei'ial incoiisi5teiicies or apparent material misstatemeiits, we are required to deterinine whethei. tl)is glve5 rise to a Inaterial misstatemei)t in the finaiicial statements tliemselve5. If, hased on Ilie work we l)ave performed, we concliide that there is a materlal mlsstatement of thls other information, we are requlred to repoit Iliat fact. We liave nothlng to r'eport In thls regard. Matters on wliich we are required to report by exception We have nothing to report in respect of the following matters Sn relation to wlilch the Cliarltie5 (Accounts aiid Report51 Regulatlons 2008 requires L15 to report to you if, In our opliiioi).. the Inforinatlon glven In the financl31 statements Is Inconslstent in any materlal respect wlth tlie IrLlStees' report,. or the charitable company has not kept adequate accounting records,. or the flnanclal statements are not In agreement wlth the accountlng records and returns,. or we have not recelved all Ihe information and explanatlons we requlre for our audit. nespon51bllities of trustees As explalned more fully In the Statemeilt of Tru5tees' Respoiisibililies Iset out on page 111, the Trustee5 (who are a150 the dlrectors of the charltable company for the purposes of compai)y lawl are responsible foi. the preparation of Ihe flnancial statements and for being satisfied tliat tl)ey give a true and fair view, and for such Internal control as the Trustees determlne Is necessary to enable the preparatlon of financlal statements that are free from materlal mlsstatement, wliether due to fraud or error. In preparlng the financlal statements, the Trustees are responslble for assessillg the charitable company's abllity lo contlnue as a going concern, dlscloslng, as appllcable, matters related to going concern and uslng the golng concern basi5 of accounting ui)less the Trustees eltlier intend to liquldate the cliaritable company or to cease operatlons, or have no realistic alternative but to do so. Page 12
Chescombe Trust Limited Independei)t Auditor's Report to the trustees of Chescombe Trust Limited Auditor's responsibilities for the audit of the financial statements We l)ave been appointed a5 auditor under sectioii 144 of the Charities Act 2011 and report In accordance wlth regulations made under Section 154 of tliat Act. Our oblectlves are to obtain reasonable assurance about whether the f inaiicial statements as a wliole are free From materlal mlsstatement, whether due to fraud or error, and to issue ai) Auditor's report that Includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a giiaranlee tliat an audit condijcted In accordanr.e with ISAS IUKI will always detect a material misstatemei)t wl)ei) it exists. Misstatements can arlse from fraud or error and are consldered material If, individually or iii the aggregate, they could reasonably be expected to influence the econoinic declslons of users taken on ihe basis of these financial slatement5. Irregularlties, iiicludlng fr3ud, are instances ol non-compliance wlth laws ai)d regulatloiis. We deslgn procedures In Ilne wlth our responslbllitles, outllned above, to detect materlal mlsstatements In re51)ect of irregiilarities, iiicludlng fraud. The speciflc procedures for tlils engageinent and the extenl lo wliicli Iliese are capable of detecting irregularities, Including fraudls detalled below: We obtained an understandlng of the legal and regulatory franieworks appllcable to tlie cliarit3ble company and the sertor In wliich It operates. We obtalned 3n understandlng of how the charitable company Is complying willi those legal aiid regulalory frameworks by maklng enquiries to management. We corroborated these enqulrles through, where applicable, our review af the minutes of trustees, Ineetiiigs. We assessed Ihe susceptibility of the charitable company's finanrial statements to materlal mlsstatement, Includlng liow fraud might occur. Audit procedures performed by tl)e engagemeiit tean) Included: o Identifying ai)d assessiiig the design effectlveness of controls management has In place to prevent and delect fraiid; o understandiiig how those charged wltli Bovernance considered and addressed the potentlal for overrlde of controls or otlier inappropriate influence over the flnanclal reportiiig proce.ss,' o cliallenging assumptions and ludgements made by management In any sl8nificaiit accounting esllmates. o Identlfying and testing journal entries, in particular any unusual journal entries; and o assessing the exlent of compliance with the relevant laws and regulations, Because of the inherent Ilmltatlons of an audit, there is a risk that we wlll iiot detect all Irregiilarltles, Includlng those le3cling to a material misstatement in the flnanclal statements or iion-compliance with regulation. Th15 risk Iiicreases the more that compliance with a law or regulatloii Is removed from the events and transactions reflected In tlie financlal statements, as we wlll be less Ill<ely to become aware of Instaiices of i)on-compllaiice. The risk is also 8reater regardlng irregularities occurrlng due to fraud rather than error, as fraud Involves intentional concealment, forgery, colluslon, oinission or mlsrepresentation. Page 13
Chescombe Trust Limited Independent Auditor's Report to the trustees of Cliescombe Trust Lirnited A Fiirther descriptioii of our responsibilitle5 for the audlt of the financial statemeiits is located on the Finarici¢il fteporliiig Couiicil's website at htlp5'.l/www.fic.org.uk/Our-WorklAudiLIAudit-and-assurance /Staiidards-ai)d-guida nce/Standards-and -guldance-for-auditors/ALiditors-respoiisibilities-for-dudlt /Description-of-auditors-respoi)sibilities-for-aLidit.aspx. This description forms parl of our auditor's report. Use of our I'eport Thls report Is made solely to the charitable company's tru5tee5, as a body, in accordance with Part 4 of the Charitie5 IAccoLlllts and Reports) Regulations 2008. Our audit work has l)een undertal(eii 50 Ihat we miglit state to the Lliarilable company's trustees tliose matters we are required io state to them in an Audltors, report and for i)0 other purpose. To tl)e fullest extent perinitte(J by law, we do not accept or assume respnn5ibility to anyoiie other than the charitable company and Ilie cliaritable company's trustees, as 3 body, For our audit work, for this repart, or for the opinions we have formed. Davld Wrlghi Bsc FCA Corrlgan Accolintants Llmlted, Statutory Audltor 1st Floor 25 l<lng Street Bristol, 8514PB Date.. 11.7. IS Cori'lgan Accolintants Llmited are eligible to act as audltors In terms of 5ectlon 1212 of the Companles Act 2006, Page 14
Chescombe Trust Limited Statement of Fina ncial Activities lincorporatillE income and expenditure account} for Ilie Year Ended 31 March 2025 Unrestricted funds Restricted funds Total funds 2025 -rotal funds 2024 Note Income from: Donatlons and legacles 25,621 25.621 5,177 Charitable activities 2,362,421 2,362,421 2,-423,997 Total Iiicome 2,388.042 2,388,042 2,329,174 Expenditure on., Charltdble actlvlties {2.223,7701 11,871) {2,225,6411 11,999,540) Net income/ lexpenditure} 164,272 {1.8711 162,401 329,634 TransFer between funds Is Net movement in funds 164,272 11,871} 162,401 329,634 Reconclllatlon of funds Fund balaiices brought forward 3,005,242 108,938 3,114,180 2,784,546 Fund balances carrled forward 3,169,514 107,067 3,276,581 3,114,180 The Statement of flnanclal activities Includes all gains and losses recognised In the year. The notes on page5 19- 33 form part of tliese accounts. Income and expendlture by fund Is shown in note 15. There are no recognlsed gains or losses other than the results for the year a5 set out above. Page 15
Chescombe Trust Limited (Registration number: 025859271 Balance Sheet as at 31 Marcli 2025 2025 2024 Note Fixed a55et5 Tangible dssels li 2,990,848 2,969,006 Current a55et5 Debtors Cash at ban1( and In hand 12 94,637 330.807 18 193,897 425,444 275,463 Current liabilities Creditors., Arnoiiiits Falllng due witliin oiie year 13 199,2841 186,2501 Net current assets 326,160 189,213 Total assets less current liabilities 3,317,008 3,158,219 Creditors.. Amoun15 falllng due after more than one year Total net assets 14 140,4271 {44,039) 3,276,581 3,114,180 The funds of tlie cliarlty.. Uiirestrlcted Fund5 Restricted funds 15 3,169,514 107,067 3,005.242 108,938 15 Total f unds 3,276,581 3,114,180 Page 16
Chescombe Trust Limited (Registration number.. 02585927) Balance Sheet as at 31 March 2025 The notes on pages 19- 33 form part of these accouiits. l-lie entity was entitled to exemption from audit Linder section 477 of the Companies Act 2006. The members liave not requlred ihe entity to ubtain an audit for tlie year in question in accordance with sectioii 476 of the Companies Act 2006. However, an audit Is requlred In accordance with sectlon 145 of the Clia rlties Act 2011. Tlie Trustees ackllowledge their responsibilities for coniplyinE With the requirements of the Act wlth respect to accountlng record5 and preparation of finaiicial statements. The financial statements have been prepared In accordance with the provlsions applicable to entitles su bjecl to the small companies regime. The financlal statements were approved and authorised for15sue by Ihe Trustees on sl6ne on tlieir behalf and Healy tor Page 17
Chescombe Trust Limited statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Casli flows from operatlng activities Net Income 162,401 329,634 Adjustn)ents for non-cash Items Ilepreciatlon Loss on disposal of tanglble fixed assels li 20,171 1,113 15,797 308 183,685 .445,739 Worl<ing capital adjustmei)ts IIDcreasel/decrea5e In debtors Increase/ldecreasel In creditors 12 113,0711 12,832 11,281 15,7501 13 Net cash flows fi'om operallng activities 183.446 351,270 Cash flows from investlng actlvitles Purcliase of taiigible fixed assets li 143, 1261 1849,0081 Cash flows from financing activlties Repayment of loans and horrowings {3,4101 1123,8171 Net iiicreaselldecreasel in cash and cash equlvalent5 136,910 1621,5551 Cash and cash equlvalents at l Aprll 193,897 815,452 Cash and cash equivalents at 31 March 330,807 193,897 The notes on pages 19- 33 form part of these accouiits. Page 18
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 l General information Tlie company Is a private company Ilmited by guarantee, and a charity reglstered in Ei)gland and Walps. The members of the company are the Trustees iiamed on page l. Iii the event of tlie coinijaiiy l)eing wouiid LIP, Ihe liability in respect of tlie guarantee is limlted to £1 per mp.mber of the companv. 2 Accounting policies Summary of slBnif icant accounting policies and key accounting estlmates The princlpal accountlng pollcles applied In the preparatlon of these financial statements are set out below. These policies have been consistently applled to all tlie years presented unless otherwise stated. Basis of preparation The flnancial statements liave been prepared In accordaiice with the Charitles SORP IFRS 1021 Accountlng and Repoytlng by Charllles.. Statement of Recommended Practice applicable to cliarities preparlng their accounts in accordance witl) the Financlal Reporting Standard appllcable in the Ul( ai)d Aepubllc of Ireland IFRS 1021 (effective l January 20191, tlie Fiiianclal Reportiiig standard appllcable In the U K and Repiibllc of Ireland IFRS 102) and the Coinpanles Act 2006. CheSLombe Trust Llmlted meels tl)e definltlon of a public beneflt entity under FRS 102. Assets and Ilabllltles are Inltlally recognised at hlstorical cost or transaction value unless otherwlse stated in the relevant accounllng policy. Going concern The flnancial statements have been prepared on a golng concern basls. There are no materlal uncertalntles relating lo events or condltlons that may cast doubt on the charity's abllity to contlnue as a going concern. Income All incoine is recognised once the charltable company has entitlement to the income, It15 probable tliat the Income wlll be received and the amount of Iiicome receivable can be measlired reliably. Income from resldential care fees Is recognlsed as servlces are provided. Income lax recoverable in relation to donations recelved under Glft Ald or deeds of covenant Is reeognised at the tlme of the donatlon. Page 19
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 Expeiidlture Expeiiditure 15 recogi)ised once tliere is a legal or constructive obllgation to transfer economlc beiiefit to a thlrd party, 11 is probable that a transfer of economic benefit5 will be required In settlement aiid tlie amount of tlie obligatlon can be Ineasured reliably. All costs are allocated directly to the siiigle acllvily of Care of Residents. Support costs are those costs Inrurred directly In support of expenditure oli tlie objects of the coinpany. Govei'nance costs are those Incurred in coiiiiection with ¢idmliii5tration of the compa iiy arid cnini)liaiice witli Lonstitutional and statutofy reqiilrements. Expendllu re on cliarilable activilles Is Incurred on dlrectly undertaklng the activities whlch furtlier tlie charltable company's oblectlves, as well as any assoclated support costs. All expenditure Is Inclusive of irrecoverable VAT. Interest receivable Interest nn fui)ds held on deposlt Is included when receivable and the ainount cali be nieasLired reliably by the cliaritable coinpany,. thls Is normally upon iiotiflcation of tlie interesi pald or payable by the inslltutlon wltli wl)om tlie funds are dEposlted. Tangible fixed a55ets and depreclation Tangible fixed assets COStill8 £200 or more are capitallsed and recognised wlien future econoiMI benelils are probdble and the c05t or value of the asset can be measured rellably. Tangible fixed assels are iiiitially recognlsed at C05t. After recognition, under tlie cost Inodel, tai)glble flxed assets are measured at cost less accumulated depreciation and any accumulated irnpairment losses. All costs incurred to bring a langlble fixed asset Into Its Intended worklng condltloii Should be Included In the measureinent of cost. Depfeciatlon Is charged so as lo allocate the cost of tan8ible flxed assets less thelr resldual value over their esllmated useful lives. Depreciatlon Is provlded on the following basls: Freehold property Mntor vel)icles Fixture5 and fittings Computer equipment No depreclatlon 25% reducing balance 20% reducing ljalance 25% on cost No depreciation has been provided on the freehold property as the charge would be Immaterlal due to the hlgh re51dual value of the property and tlie leiigtli of Its remalning useful economlc life. Debtors Trade and other debtors are recognised at the settlement amount. Prepayinents are valued at tlie amount prepaid. Page 20
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 Casl) at ban1( and in hand Cash (It bank and in hand includes cash and short-term IiiEhly liquid Investments with a short malurity of three months or less from the date of acquisition or opening of tlie deposit or similar account. Llabilltles and provisions Llabllltles are recognlsed when there15 an obligation at the Balance sl)eet date as a resiilL of a past event, it Is probable that a transfer of economic benefit will be required in settlement, and tlie amou nl of tlie settlement can be estimated rellably. Llablllties are recognlsed al the amount that the charitable company anticipales it wlll pay to settle the debt or the amount it has recelved as advanced payments for the servlces It n)ust provlde. Provisioiis are measured at the best estimate of the amounts required to settle tlie obllgation, Where the effect of the tlme value of money Is materlal, tl)e provision is based oli the present value of those amounts, dlscoLinted at the pre-tax d15count rate that reflects the risks speclflc to tlie liabilily. The unwindlng of the dlscouiit is recognlsed lil the Statement of flnanclal actlvltles a5 3 flnaiice cost, Financial Instruments The charilable cnmpany only has financlal assets and financlal Ilablllties of a kind that qiiallfy as baslc flnancial instruments. 835ic financial instruments are initlally recognlsed at transactlon value and subsequently measured at their seltlement value with the exceptlon of loans whlth are subseqijentlv measured at amortlsed cost uslng the effective interest method. Operatlng leases Rentals pald under operatlng leases are charged to the Statement of flnanclal activltles on a straight Ilne basls over the lease term. Penslons The charitable company Operates a deflned contrlbutlon penslon scheme and the penslon charge represents the amouiits payable by the charitable company to the fund In respect of the year. Fund accounting General funds are unrestricted funds whlch are available for use at the dlscretlon of the Trustees in furtherance of the general objectlves of the charltable company and whlch have not been deslgnated for other purposes. Restrlcted funds are fui)ds which are to be used in accordance with speciflc restrlctlons Imposed by donors or which have been raSsed by the charitable company for partlcular purposes, Tlie costs of ralslng and administering such funds are charged agalnst the specific fund. The alm and use of each restricted fund Is set out in the notes to the financlal statements. Page 21
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 Marcli 2025 3 Income from donations and legacles Unrestrlcted Restrlcted 2025 Don4tions 25,621 25,621 Unrestrlcted Restricted 2024 Donatlons 177 5,000 5,177 4 Income from charitable activlties Unrestricted Restricted 2025 Care of Residents 2,362.421 2,362,421 Unrestricted Restricted 2024 Care of Residents 2,323,997 2,323,997 5 Analysis of empendlture on charitable activities Summary by fund type Unrestricted Restrlcted 2025 Direct costs Care of Re51dents 2,223,770 1,871 2,225,641 Unrestrlcted Restrlcted 2024 Dlrect costs - Care of Resldents 1,996,828 2,712 1,999,540 Page 22
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 6 Analysis of iiicome from charitable activlties by type of incoine Unrestricted Restrlcted 2025 Fee Income 2,306,239 2,306,239 Personal Independence Payments 56,182 56,182 Cost of Ilving income 2,362,421 2,362,421 Unrestrlcted Restricted 2024 Fee Income 2,252,136 2,252,136 Personal Independence Payments 55,861 55,861 Cost of Ilving Income 16,000 16,000 2,323,997 2,323,997 7 Analysis of expendlture by activlties Activitles undertaken directly Support costs 2025 Care of Resldents 2,082,661 142,980 2,225,641 Activitles undertal<en directly Support costs 2024 Care of Residents 1,874,305 122,523 1,996,828 Page 23
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 Analysis of direct costs Care of Residents 2025 Care of Resldents 2024 Staff costs Depreciation Residents, food costs Day and soclal care costs Other resldents, Costs Staff tralnlng and D8S checks Light and heat Rates and water Insurance Cleaiiliig and waste dlsposal Repalrs and Inalntenance Mortgage interest Sundries Reg15tratloi) Motor and travel costs Postage and stallonery Telephone CompLSter costs Su bscrlptioiis Health and safety Bai)k cliit rges IProlitl110ss on disposal of fixed assets 1,708,799 20,170 81,586 28,651 478 3,549 45,219 27,470 44,166 27,540 53,181 2,705 1,516,171 15,797 80,146 24,731 446 13,082 39,350 21,152 40,512 28,314 54,693 3,723 2,388 14,919 2,201 7,327 735 7,678 1,870 907 1,114 2,388 11,200 3,395 7,125 748 7,979 2,064 977 308 2,082,661 1,874,305 Analysls of support costs Care of Residents 2025 Care of Re51dents 2024 Staff costs Legal and professional Audltor's remuneratlon Accountancy fees - non-audlt servlces Trustees, indernnlty insurance Trustees, expenses 122,958 8,333 8,530 2,198 961 102,225 10,659 8,277 1,362 142,980 122,523 During the year, the company Incurred the following Governance cost5: £19,06112024 - E20,2981 included within the table above in respect of Care of Re5identS. Page 24
Chescombe Trust Llmited Notes to the financial statements for the Year Ended 31 March 2025 8 Auditor's remuneration 2025 2024 Fees payatrjle to the charltable company's auditor for the audlt of the cha ritable coinpany's ai)nual accounts 8,530 8,277 9 Staff costs The aggregate payroll costs were as follows: 2025 2024 Wages ai)d salarie5 Soclal 5ecurlty costs Coiilrlbutlon to defined contrlbutlon pension schemes 1,547,602 148,635 62,213 1,400,603 120,884 59,593 1,758,450 1,581,080 The average number of person5 employed by the charitable company durlng the year wa5 a5 follows: 2025 2024 Employees 52 53 No employee received rernuneratlon amountlng to more than £60.000 In either year. The total remuneratlon and beneflts recelved by key management personnel during the year was £303,71312024: E258,8031. 10 Remuneration of the Strateglc Leadershlp Team During the year, no Truslees received any remuneratlon or other benefits {2024 £01. Durlng the year ended 31 March 2025. expenses totalllng £0 were reimbursed12024 - £01. Page 25
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 11 Tangible fixed asset5 Freehold property Motor veliicles Fixtures and fittings Computer equipinent Total Cost or valuatlon At l April 2024 Additions D15posals 2,906,252 11,916 78,951 146.565 30,696 17,J991 13,045 3,144,813 514 43,126 17,5991 At 31 March 2025 2,918.168 78,951 169,662 13,559 3,180,340 Depreciation At l Aprll 2024 Cliarge for the year Ellminated on disposals 57,118 5,458 108,298 13,570 (6,4861 10,391 1,143 175,807 20,171 16,4861 At 31 March 2025 62,576 115,382 11,534 189,492 Net bool( value At 31 March 2025 2,918,168 16,375 54,280 2,025 2,990,848 At 31 March 2024 2,906,252 21,833 38,267 2,654 2,969,006 Included In freehold property Is land purchased at a cost of £463,67812024: £463,678) whicli is not depreciated. Nor is the brought forward bullding depreclated. Tlie Trust's premises were built to a hlgh standard and completed in 2011. No depreciation lias been provlded on the freehold property bs tl)e charge would be Immaterlal due to the hi8h residual value of the property arid its remalning useful economlc life. Freehold property also Includes interest charges of £98.490 incurred during the period of constructlon of the propertv. 12 Debtors 2025 2024 Due wlthin one year Trade debtors Other debtors Prepayments and accrued income 89,731 4,906 53,682 27,038 846 94,637 81,566 Page 26
Chescombe Trust Limlted Notes to the financial statements for the Year Ended 31 March 2025 13 CredStors'. amounts falling due wlthin one year 2025 2024 other loans Trade creditors Otl)er taxatlon and social securlty Other credllors Accruals and (leferred income 3,582 13,198 37,992 18,359 26,153 3.380 14,832 25,029 16,111 26,898 99,284 86,250 14 Creditors: amounts falling diie after one year 2025 2024 Other loans 40,427 44,039 Included In the creditors are the followlng amounts due after more tlian five years: 2025 2024 Between one and two years Otlier loans 3,803 3,582 2025 2024 Between two and five years Other loans 12,875 12,127 2025 2024 Over flve years Other loans 23,749 28,330 The above loan is secured on the freehold property of the charltable company. Page 27
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 15 Statement of funds Stat'ement of funds - current year Balance at 31 March 2025 Balance at I April 2024 Traiisfer5 In/out Income Expenditure Unrestrlcted funds General funds 3,005,242 2,388,042 12,223,770) 3,169,514 Restricted funds Land and Buildings Capital Fiiiid Fixtures and Flttlngs Capital Flind Galloway Capital Fund ioo,o loo,000 2.749 6,189 1378} {1,4931 ?.,371 4,696 Total restrlcted funds 108,938 {1,8711 107,067 Total funds 3,114,180 2,388,042 12,225,641) 3,276,581 Page 28
Chescombe Trust Limited Notes to the financial statements for the Year Ended 31 March 2025 Details of funds Land and Bulldin sca ital Fund A grant of £IOO,000 was recelved from Future Bullders England Ltd towards the land purcl)ase ai)d ljuild costs associated wlth the new centre. A restriction is plad on thls grant for 25 years from 16 October 2008. Fixtures and Flttin sca ital Fund A 8ranl of £50,000 was received from Future Builders Englaiid Lld towards the cost of fitting out the new centre. A restrictlonls placed on thls grant for 25 years from 16 October 2008. Gallowa CaLital Fund The Galloway Capltal Fund represents donatlons recelved from a parent of one of the resldents. The donatloiis relate to the purchase of capltal Items such 3s a televlsion, a m()tor vehicle and an air condltlonlng unit. Treetops Flouse fund This smaller fui)d relates to donations which are restricted to expenditure on one of the Charlty's three houses. Page 29
Chescombe Trust Llmited Notes to the financial statemeiit5 for the Year Ended 31 March 2025 Statement uf funds- prior year Balance at l April 2023 Balaiice at 31 March 2024 Transfers Inlout Transfers Inlout Income Expenditure Uni'estricted funds General funds 2,672,896 2,324,174 11,996,828) 5,000 3,005,242 Restricted funds Land aiid Bulldings Capital Fund Flxtures and Flttings Capital Fund loo,000 loo,000 3,436 {6871 2,749 Galloway Capltal Fiind Treetops House 8.174 40 5,000 11.9851 140} {5,0001 6,189 Total re5trlcted funds 111,650 5,000 {2,7121 15,0001 108,938 Total funds 2,784,546 2,329,174 11,999,540) 3,114,180 Page 30
Chescombe Trust Limited Notes to the financlal statements for the Year Ended 31 March 2025 16 Summary of funds Summary of funds- current year Balance at Income Expendlture 31 March 2025 Balance at I April 2024 General funds 3,005,242 2,388.042 12,223,770) 108,938 11,8711 105,196 945,744 Restrlcted fiinds 3,114,180 2,388,042 12,225,641) 1,050,940 Summary of funds- prior year Balance at 31 March 20Z4 Balance at I April 2023 Income Expendlture Transfers Inlout General funds 2,672,896 2,324,174 11,996,828) 111,650 5,000 12.712) 5,000 3,005,242 15,0001 108,938 Restrlcted funds 2,784,546 2,329,174 11,999,540) 3,114,180 Page31
Chescombe Trust Limited Notes to the financial statements for the Ye31- Ended 31 March 2025 17 Analysis of net a55et5 between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds Total funds 2025 Tai)glble fixed assets Current assels 2,883.781 107,067 2,990,848 425,444 199,2841 140,4271 425,444 199,2841 140,4271 Credltors due wlthin one year Creditors due in more tlian year 3,169,514 107.067 3,276,581 Aiialysis of net assets between fui)ds - prlor year Unrestricted Restricted funds funds Total funds 2024 Tangible flxed assets Current assets 2,860,068 108,938 2.969,006 275,463 275,463 186,2501 144,0391 Creditor5 due wlthin one year Creditors diie in more than year 186,250} 144,0391 3,OOS,242 108,938 3,114,180 18 Analysis of cash and cash equivalents 2025 2024 C3sh In hand 330,807 193,897 19 Analysls of changes in net debt Other non-cash changes At31 March 2025 At l Aprll 2024 Cash flows Cash at bank and In hand 193,897 136,910 330,807 Debt due within l year Debt due after l year 13,3801 (44,0391 3,380 30 13,5821 3,582 (3,5821 140,4271 146,478 140,320 286,798 Page 32
Chescombe Trust Limited Notes to the fiiiancial statements for the Year Ended 31 March 2025 Incoine and expenditure by fund Is shown In iiote 15. There are no recogni5ed gains or losse5 Other than the resulls for the year as set out above. 20 Penslon coinmitments The company operates a defined conlribution5 pensloii sclieme. The assets of the sclieme are lield separ<ltely from tliose of Ilie company in ali Iiidependently adininistered flind, The peiisioii cost chai'ge I'epreseiits contrihiilions payable by the compai)y to the fund arid amounted to £62,213 12024 £59,593). Loi)Iributioiis totalling F 10,116 {2024 E8,538) were. payable to the fund at the balance sheet date aiid are included in creditors. 21 Assets held on trust Tlie charity Iiold5 funds on trust for ten residents12024 - 51x resldentsl. At 31 March 2025, tlie amount Iield ali trusl was £36,93512024 - £6,688}. These amounts are not included on Ihe cliarity's balance sheet. 22 Operating lease commitments Al 31 March 2025 the charitable company had commitments to make future mlnlmum lease payments under non-cancellable operatin8 leases as follows: 2025 2024 Wllhln one year 52 350 23 Related party transactlon5 There were no related party transactlons In the year other 11)an the relmbursement of expenses disclosed In note 10. Page 33