COMPANY REGISTRATION NUMBER: 02562377 CHARTfY REGISTRATION NUMBER: 1002J98 The Mayfield Trust Company Limited by Guarantee Financial Statenients 31 March 2024
The Mayfield Trust Company Limlted by Guarantee Flnanclal Statements Year ended 31 Mareh 2024 PAgeJ Tru8tee8' annuat report (incorporating the directovs report) Ito6 Ind¢pcndcnt auditovs TOrt to the mcmbers Statement of financial &ctivideg (including income and expenditure acGouut) 7t012 13 Statcment of finttncial position 14 Statement of cash flows 15 Note8 to the financial st8tern¢nts 16 to Errorl Bookn)ark not defined.
The Mayfield Trust Company Limlted by Guarantee Trnstees, Annuydl Report Oneorporating the Dlrector's Report) Year ended 31 Mareh 2024 Thc trustee& who arc also ihe directors fnrthe putposeb olcompany law, pffscnt thelr report and thc financi31 stat¢mmts of the charity for the year etsded 31 March 2024, Referemee and xdmlnlytratlve detal Regliter ¢hsrity name The Mayficld Trust Chaylty r¢gl8tr•tlon number 1002398 Company reO$trAtIDM number 02562377 PrinelpAI offlce And r¢218tered Mayfield Ilouse otrice Wcst Royd Close Halifax HXI 3BE The tru8t¢e8 R C Scott S l. Andcrson L A Gibson R P Dougherty S l. Port¢U5 (Resigned 9 January 2024] D M BywAtcr (Appuinted 4 Svpt¢nthcr 2024) Company iecretary S L Andcr60n Auditor Waltcr Dawson & Son Ch&rter¢d accountants & slatuts)ry hudilor Fil Floor Offices. Unil A4 Old Power Way Lowfields Dusine8s Park Ellartd HXS 9DE BADkers Lloyd¥ Bank PIC Commercial Street Halifax HXI IBB Soiicfitors Ramsd¢ns Solicitors LLP Oplkley FIousc l Hungerford Road Huddttrsficld HDI 2TH Investment m*n8%ttS Closc Asset Management Limited 8th fioor 10 Exchllngc Squar¢ Primm&e Slrcet London EL2A 2BY
The Mayfield Trust Company Llmlted by GuArintee Trustees, Annual Report (Incorporating the Dlrectorls Report) (¢oDil•wed) Year ended 31 MArth 2024 Structure. governance and management yovernlng document The organisation is a chafttablc company limited by guarant¢¢. incoTporal¢d on 26 Novembcr I990 and rc8iStered as a ¢harily on 28 Mar¢h 1991. Thc company was establitbhd under a McTnorandum of As80ciation which establi8hed Ihc objecls and pow¢rs ol the charitabl¢ company and is governcd by its Artioles of Association. In the event of th¢ LOTnpany bein¥ wound up members are requircd to Contribute an amount not excccding £1. Recrultmcnt And appolntmcnt ofMan8gemcnt Commlttee Member8hip of the ch@rily Shall b¥ open lo All people (wheth¢r with or without a leaming disability) who declare their suppoti. for and aro in sytnpalhy with the object8 of th¢ Charity. The directors of thL company are also twslee¥ for the purpose of Lharity law and undcr the Gompany's Articles of AssnLi&lion are known as rnembers of the Council (Jf Management. Th¢ members of the Council of Man¢lbFement are appointcd for a fix temi of three years. they shall rctire from office, but they may stand for rc-eleGtion. The appointments shall be staggcred to ensure that no more than one third of m¢mbers shall b¢ required rc818n from offi¢e at each annual gener&1 m¢etin¥, Tru$tee Induction aDd training Induction and training of new truste¢s is given through a 'new IrusLee p8ck' which inLlude8 th¢ charity Commission's 'R¢spon8ibilities of Tru8l¢e5" and full detail8 about Thc Mayfield Tru¥l. Rlsk mAnagement The Council of Managern¢nL I'ogcthEr with the MAn&ging Dircctor, has conductcd a rrvi¥w ofihc major risks to which Ihe charity is exposed. A risk registcr has bccn establishcd and is upd&l¢d a& and whvn required. WhLre &ppropriate, syslcm8 or pro¢¢dures have been establi8hLd to miligale Ihe risk's th¢ charity faces. Internal control risks are minimiKd by the impl¢menl4tion of proc#durtts for authorisatioii of all transactions and projects. Proccdurcs are in placu lo Lnsure Lompliance with health and safety ol-8tsff, volunteers and th¢ peopl¢ with leurning disJbiliti#$ whirh it support¥. Organliwtlonal stru¢ture The Mayfield'frust is Lontrolled by the Irusleeb, who meet on a monthly l)asis. There are five mcmbers from variety uf professional backgrounJ6 relevant lo thL' work of Ihe charity, Th¢ Mana8in¥ Director is responsible for th¢ ov¢rall manag¢mcnt uf the charity and reports lo the trustees. Th¢ day to day responsibility for the prvvision of services is delegated to the Charity Managcment Team, of which there are two members who rn¢¢l on a weekly basis and rcport to the Managin8 Dir¢ctor. ManAgln% Dlrector M Larkin Charlty management tsydm f Mason CJ Murray Remunerailon On r¢¢eipt of the annual uplift from th¢ local &uthorAty and CCG, we populate the figures onlo the incremental employee pay model lo analyse what we can offer all employ¢¢s' we propose a number of oplinns which we present lo the boArd. FollowinLT this. the board revicw Ihe option5 and ionsider management salaries frorn remaining uplifted rcvenuc. thc board also Lonsider r¢taining a percentage ol- the increascd r¢venu¢ for ovcrheads and planned spending. DcLision5 are then made and approved for all rol¢s.
The Mayfield Trust Company Llmlted by Guarydntee Trustees, Annual Report Oncorporjting the Director1$ Report) ftOAiltL4) Year ended 31 March 21124 Objecdves gnd 4Ctlvitle8 Thc charity's objcctivcs and princip&l uctivilicB ure: To improve the quelity of lif¢ for Ghildren. yuung prople, adults and oldcr people with learning disabilities and mental illness and to provide infonnation. advi And support for iheir parcnts, r¢lative5 and carcrs. "Learning disability means at]y development disability of thc mind and any assrjciatcd condition however caused and whether mild. moderal'e or severe. W¢ have referred to the guidanLc containcd in th¢ Charity Commission's g¢neral guidance on public benefit when revi¢Ying our aims and ubjeclives and in planning our activities. In pariicular, Ihc Council of Management consider how planned activAlies will contribute to the aims And objectives Ih¢y have Rel. Achlevernents perform#n¢e The Mayficld Trust's strategy has bccn lo fucus morc clii%ely on detail for the year 2024-2025. wc tsxpccted this to be R consolidation y¢ar focusing on 'quality, perfomance, a8 we hove expLrienLed many L,hangv¥ in the la815 ycars. The mindsct was to ensure that ihe serviceSi and facililics oftcr wer¢ the be81 that they can bc, rdihcr than sLcking lo srow, we fccl we SUL¢¢ed¢d with this mindset, and io support Ihis mindset we broughi in a new role of Q.uality Lead. The rule was lo fo¢us an improving practice thr(Trugh supporting the delivery of qu&lity assurance, lo ensurv vtfectiv# expLriL ThLC+* for th¢ people we gupporl, families, and employees and to quylity a88ure yoiial ¥arc practi 8n(I service delivcry identifying best pra¢lice and area8 for improvemenls. The quality lead has also b¢eii al)Ic to lead Ihe rollout of th¢ digiial carc plan system. Thi8 hu& beLn Significant change and improvL'menl nol only on huw we r¥Lord, analyse and stor¢ our data. but for the people we support, thcir ¢xperi¢nLe of carc has improved r¢sulting from thtr timc savcd Dn daily nnte 0mplian. W¢ have had sorne fin8ncitLI challenges. at th¢ bL'8inning uf (he year, we had to facilitslc a large incwas¢ lo minimum wage. thankfully this was matchcd by 8n incrcase to fiinding, 80 this rnade (he task leli8 problcmatic. Following di$¢u¥sions with olher provid¥rs regarding how the loLal uthOritY ¢ould 8UPPOrt with workfoKc retention iniliatlvcs, wc seLiired som¢ additional funding try As$ist with providing dis¢ount5 for frontline slarr. WV were very grnlcful lo rec¥iv¢ the oxlra fijnding fNTrm local authority to 6UPPOrt health & wcllbcing. This funding supported the Sage App, a Retention Bonus, and support with thc costing for Disclosur¢ and Barring Servicc Support. At the beginninB of the year, we applied a new pay-GyLlc, th¢ challges werc challenging, but implen]cntin8 this was a significant sfrp to improvirt8 our operational systems. Al the same time, we w8nt#d lo initiate a digital lime aiid attendaiice syslcm this was not successful, and Icssons h&ve b¥L'n Icamt and policy iipd8ted regarding how we procure business in the future. We have bceTh working more closcly with the LA (local authority} and ICB {Intergrnled care board) than cver before and thc rclalionships w¢ ar¢ building with what our main customers 18 succecdins. We are proud ofour scrviccs and arc commitmcnt to providin¥ bespoke high-quulity services for people with a Icarning disability. We continue lo inLr¢ysc the number of people we support within our Outreach Service and the number ufpeuplc we ¢mploy. WL believe our social value will continue tu show a positiv¢ impact within Lalderdale alongside this tnireas¢d capaLity. The Mayfield Twst values and investli in itg employees to ensur¢ they altain the right knowledge, skills and oxpcrience to Support others, and our Commitment to pay and condition5 ycar on year demonstrates the valu¢ employees bring to our charity.
The Mayfield Trust Company Llmited by Guarantee Trn6tees' Annual Report (Incorporating the Director's Report) (ef•NrfINd) Year ended 31 March 2024 Achlev¢ments And performance The Managing Director, operations tcam and forward-thinking board are proud to represent The Mayfield TNst and it5 ongoing heritsge in providing high quality 8L'rvicLs since 1952. 'Hclpin8 Pcople Live Life to the Full, and d¢livcring upon our moral and le818lative responsibilities remains central to our missiull, vision and valucs for th¢ rharity. Our services Gurr¢ntly comprise of: Mayfield Hub (activity centre) Maytield Outreach Dal¢Groft (supported living) Pye N¢sl (5upporied living) Mayfield Mcws (supported living) Hawthorn Cottagc (supported living) Parish View (supportd living) Gibraltar Road (nuTSill8 scrvice) Summ¢r kun Mayticld Training Cnvld-19 The ongoing impA¢t of Covid -19 on the charity is at an knmd. However, the impact on our country, workforc¢ problemalic. Many p#opl¢ urc ¢xpcri¢nrinB long covid, oth¢rs are re prioritising th¢ir work life balancr and opting to stay at homc. Flnxnclal Yevlcw 'rhc nct income fL)r the year was £130,696 (2023: £142,817) and the gain on revaluation of Anve&tm¢nts was £9,520 (2023.. 1088 Df £23,281) which 8r¢ lo IK addcd to res¢rY¢$ Icavin¥ £2,512,203 {2023.. £2,371,987) to carry forward, unrestric donat10O8 Qf £2,664 (2023,, £1.541) were r¢eeived durin8 the yeAr. The ¢haftty's funds have b#en applied to run Supported living and nursing home8 and to provid¢ 8UPPOrt and assislancc lo persons with Icarning di8abilitics. The charity8 fixed asscts are heing held to maintain th¢ level of support to fulfil the charity8 poli¢i¢s and obj¢GtiV¢8. Prlnclp41 ftsndlng Bources The principal funding sou¢5 for th¢ charity ar¢ by way of grant and contract income from C3ld¢rdal¢ Metropolitan Borou8h Council and Clinical Commissioning Group (CCG), Investment pollcy Having taken profe58ion818dvi¢c. the board of trustees have aLknowlcdged the infonnation in rcspcct of its portfolio of investments. A dccrca8c of £21.572 on the invcstment during the year was shown in lemls of nct income and revaluation Bdjustmenls. Reflecting on the financial and political lurbulcnce over the last 12 months, the perfomiance of our investment rernains stagnant pverdll. The charity arc workin8 with a new FinanLe consultant and all m¢tho(Ls of holding and using rcserves b¢inB cxplorcd.
The Mayfield Trust Company Limited by Guarantee Trustees, Annual Report (tneorporAting the Director's Report) YeAr ended 31 March 2024 Reserves pollcy 'rhe board of tNstccs havc adopted a policy reg4rding rcservcs which should cnqurc that unrestrict¢d fr¢¢ reserves will provide for cash flow in Ihe event of lalc paytn¥nt of grants and other external funding and provide for stalutory redundancy payments to cor¢ stsrr if core fimding is105t. It should albo meet curr¢nt liabilities in respect of rent and leasing agretyments for six months in the event of wiihdrawal of ¢ore funding and provide for legal costs in thu cveL]t of th¢ ¢harity being subjcct lo legal action, in particular from employment malt¢r5, The policy requires that the charity holds three months of frec res¢ry¢s. Any excess ovcr thi8 amount will be used for the benefit of the people we support as andwhcn Addilional needs arisc. The current Icv¢l of reserves. which Ai)Gludcs inv¢8tment assets, is 2.6 months of expenditurc. Thereforc the tot rcquir¢d Icvel of reserves overall has not bLen met. Thc charity are working with a new financc consultAnt and all methods of holding and using reserves are bcing cxplored. Plans for future perlods The Mayfield Tsust's slratcbiic plart for 2024-2025 is for continuous improvement with the quAlity and operations of All departm¥nls. We are curc¢ntly undertoking a prrJj¢ct to 8¥8ebs the current inforniation t¢¢hThology {IT) provision within the butyinus¥ wilh M vi¥w to making iinprovements ai)d advancing the use of LT within thL organiL48tion. Drivu for the project ar¥ To improve security To improvc tiiiictionality To eliminate downtime due to technical hindcranccs To fvturc pr(K)f tho businesses rr provisirf)ns Trnstees, respon8lbllltle$ statement The trustces, who arc also dircciors for Ihe purp08es of compaiiy law, responsible for prepAring thc Irust¢cs' rcpon and Ihc financial statemertls in acLordynu¥ with appliLable law and United Kiiigdom Accounting Standards (Unil¢d Kin8dom Generally AcceptLd ALLounling Prncti¢¢). Company law rcquircs th¢ ¢harity trusl¢es to prL'par¢ financial sl&lernenls for ea¢h year which give a true and fair vicw of the stal¢ of aff4irs of th¢ charilable Lompany and th¢ incominB re8ourceB and application of re80urc¢s, includin8 Ihc incom¢ and exnditure, for that pcriod. In preparin8 these tinarKial stRtements. the truste are rcquired to.. Icct suitable accounting polici and then apply thcm consi8tcntly" obs¢rve the melhodE4 and principle8 in Ihc applicable Charities SORP, make judgments and accounting estimates that arc reasonable and prudent: prepare the financial statements on the goi concern basis unless It is in2ppropri&te to presumc that the cburity will continuc in business. The trustees responsible for keeping adequate Accounting records that are Sufficient to show and explain the charity's transactions and disclosc with reasonable accuracy at any lime the finaNLial wJ.sitiun of the harity and en&bl¢ tlicm to ensurc that the financial statemen18 comply with the Companies Act 2006. They 8rc also responsible for safeguarding the assets ol th¢ charity and hence for taking reasonable steps for th¢ prevention and detection of fraud and othcr iff¢gularitic5.
The Mayfield Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (coRlin*•dJ Year ended 31 March 2024 Auditor Each of the persons who is a Iru81ce at the date of approval of this report confim]s that.. 80 far as they are aware, there is no relevant audit infomiation of which the ch&rity's auditor is unaware. and they have takett all stCP8 that they ought to have taken as a trustee to make themselves &w8re of any relevant Audit infonnalion and lo vstabhsh that the tharity's auditor is aware of that inforniation. A r¢solution to r¢appoinl Wttlter Dawson & Son as auditors will be propoy¢d At the forth¢oming Annual Cyeneral MeetinB. Smill company proviiionj This report hail been prepared in accordance with ihe provi5ion5 applicabl¢ to compAnics ¢nlitlcd lo th¢ small companies cxemplion. The tntslg¢8' annual report was approvcd on 3 February 2025 And sign¢d on behlllf of the board of trusLL'tt by: R C Scult Trustce
The Mayfield Trust Company Limited by Guarantee Independent Auditor's Report to the Members of The Msyfield Trust Year ended 31 March 2024 We have audit¢d thc financial statements of The Mayfield Trnst (the 'charity') for thc ycar ended 31 MarLh 2024 which comprise the stalernenl of finanrial a¢tiviti¢s (including incomc and expenditure account). statement of financial position. statement of cash flows and Ihc r¢laled iiotes. including a swnmary of significant accounting poliGies. The fin8nLial reporting framework that has been applied in Ihcir preparation is applicfible law and United Kingdom Ac¢ouTrlin¥ Standard& including FRS 102 The Financial Keporting SthndaTd applicabl¢ in the UK wid Republic of Ireland (Unilcd Kingdom Gencrally Accepted Accounting Practice). In our upinion the financial statern¢nts- BIVC a true and fair view of the slate uf the Lharity's affairs xs AI 31 March 2024 and of it8 incoming Te&ourLes and application of rc8oU¢s, including ils income and cxp¢ndiiure, for the year then ended,, have been properly prepared in accordAn¢¥ with Unffttttd Kingdom Gcncrally Acc¢pl¢d Accounting Praclice. hav¢ b¢cn preparcd in accurdanlv with lh¢ r¢quiffm#nls of the Compaiiie8 Act 2006. Bas1$ for oplnlon W¢ conduLled our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) applicable luw. Our r¢5poiisibililie8 under those standards ar¢ further described in the auditor's re¥ponsibililie.8 for the audit of tho financial btal¢m#nts 8¢Ction of our r¢porL W¢ att independcnl of thc charity An a¢¢ordance with the ethiLal rL'quircmenl$ that are relcvanl lo our audit of the financial 81at¥m¢nts in th¢ UK, including the FRC'6 Ethical StaIar( and we havc fijlfillcd our other rthical responsibililieB in accordance with thcse requircmenis. WL believc that tbe audit evidencc we have obtain¢d is sufficient at appropriate to providc a basis for our opinion. C(Jnclu#lons relatin% t goiThg concern In auditing the financial statemenls, wc have conLluded that Ihe INstees' usc of the going Concern ba818 of Accounling in th6 preparalion of Ihe finanLiul stst¢m¢nts is appropriatc. Based on the work we hav¢ perfornied, wc have not id¢ntifi¢d any material uncertAinlies relaliiig to even or conditions that, individually or collcclively, may cast 5ignificanÉ doubl on the Charity's ability lo continue &% a gving concern for a period of at least tw¢lv¢ month5 from when th¢ financial 8tat¢m¢nts ar¢ authoriE>cd for issue. Our rcspunsibilities And the responsibilities of thr directors with rc8P¢Ct to 80in8 concern are d¢ribed in lh6 rclgvanl sections of this report.
The Mayfield Trust Company Llmlted by Guarantee Independent Auditorls Report to the Members of The Mayfield Trn&t Year ended 31 Marth 2024 Other informadon The other inforniation comprises the inf0rDtion inoluded in the annual r¢p)rt, other than the financial 5tal¢menls and our auditor's pOrt thereon. The truste aT¢ wspont4ible for the other infom]alion. Our opinion on the financial slulcmenls doeg not covcr the other infonnation and. Gwcepl to the extont otherwise explicitly stated in our rurt. we do not exprcss any fomi of assurance conclu5Lon thereon. In conneLtion with our audit nf the financial stratements, our responsibility is to read the other infomiation nd. in doing so. Lonsid¢r whether the other infornution 18 materially inconsistcnt with thc financial slutem¢nts or our knowledge nbtained in ihe audit or otherwise appears to bc materially misstated If w i(lentily such inaterial inconsist¢ncies or appar¢nt material misstatemenls, wc Are required to detemiine whether there is a matcrial misstamCrnt in the finhnuial slatements or a material mi8StAlemenl of the other iiifomialion, If, based on the work wc havc perfomicd, wc conclude thAt there 18 a muterial misstatemcnt of this Other inforniation, wc Arc requircd to report that fACC. Wc havc nothing to port in this regard. Oplnlons on other matten preserlbed by the Companles Aet 20110 In our opinion, bascd on the work undertakcn in thc coursc ofthe audit.. Ihe infomiation given in the truslces, rcport for the financial year for whi¢lL the financidl slaiemenls 8r¢ prepared is collbl5t¢nl with ihe financial $t&tements' and the trustees, rcport has bccn preparcd in accordance with &ppliceble legal requiremenis. Matteri on whl¢h we are requlred lo report by exceptlon Wc havc nothing to rcport in respect of the following matters where the Lompanies ALI 2006 requirr8 us lo report to you if, in our opinion: ad¢quat¢ COUl}t1ng rccord8 h&v¢ notbccn kcpt or returns adeqii8te forour audit have nol becn r¢¢eived from branGhcs not visi1 by us. or th¢ financial 8latcments are not in agN'¢menl Wlth the Accounting r#Lord8 and returns. or certairt disclosures of Council of ManA8emenV8 remunerntion 8p¥tsifi¢d by law are not rnade. or wc have not received all the inforniation md explanations we tequirt for our audit. or the Council of Manag¢rnent were ftot entitl lo pr¢pare the financial stat¢mcnt5 in a¢¢ordance with the small companies regime, tske advantage of th¢ Nmall companies ex¢mption in preparing the Trustees Annual Report and take advantaBe of the small companies exempliun from th¥ requirement to preparc ¥lrat¢gic repo
The Mayfield Tnt Company Limited by Guarantee Independent Auditorls Report to the Members of The Mayfield Tru81 {L'DrtrtMytdJ Year ended 31 March 2024 Re&pn1b]litse& of trustee As explained morc fvlly in the tn15tevs' rcspOn51l1itics statement, the trustees (who are also the directors for th¢ purpos¢s of company law) are responsible for the prcparation of the financial statement8 And for being satisficd that th¢y 8iv¢ a truc and fair view, and forsuch internal control as the trustees deterniine is necessary to enable the prep8ration of financial 5t8t¢ments that arc fr¥¢ Fmm material misstatemen4 whether duc to fraud or ¢rror. In preparing thc financiol Statements, the lnlee8 are responsibl¢ for assessing the charity's ability la continu¢ as a yoin¥ concern, disclosing, a5 applicable. m&tters r¢laled lo ¥oing Concern aiid using th¢ going concern basi& of accounling un1¢88 th¢ Inte¢S cithttr intend to liquidate the charity or to cease operalions, or hqve no realisliG altrmutive bul lo do SD.
The Mayfield Trust Company Limlted by Guarantee Independent Auditor's Report to the Members of The Mayfield Trust Year ended 31 March 2024 Audltor'% responslbilitles for the audlt of the financlal 5tAlements Our objeLtives are tn ohtain reasonable assurance about whcther thc financial statcments as a whole are free from malerial misstatcmenL wh¢iher due lo frdud or error, and to issuc an yuditor's rcport that includes our opinion, R¢asondble assurdll¢e is a hi8h level of assuran¢¢, but 15 not a guarant¢¢ that an audit conduclvd in acrordance with ISAii (UK) will always detecl a matcrial mi58tatem¢nt when it ¢X15tb. MisslalLments Gan arise from fraudor¢rror and are Conside.d material if, individually or in Ihc ab'gr¢gale, th¢y Lould r¢asonably be rxpected to influence the economic dccistons ofiisers taken on Ihc bRsis ol-the8e finaiicial .stalements. lfftgularilies, including fraud, are instances of non-LomplianGe wilh laws and r¢8ulations. W¢ dcsign proccdurcs in linc with our respon¥ibilili¢s. outlined above, lo d¢lcul matcriol misslalemcnts in resi)ecl uf irregularities, including fraud. The cxlcnl to whith our PTocedures are capable of detecting irr¢gularities. including fraud i& detailed below- Our approach to idenlifying and assessing the risk of mal¢rial misstatemcnt in reSpt of irregularitic including fruud and non-complianc¢ with laws and rcgulations, was as follows: the en¥og¢meDL partner ensured ihal Ihb engagcment team collcclivcly had the appropriate compelencc, capubililies and ski118 10 identify or reoognise non-¢(Jmpliance with applicable laws and Ic8ulatiotts' we identified thL laws and wgulalions applicablc to the Lvmpany through diA6us8ionL4 With iNst¢¢8 and othcr management, and form our commercial knowledge and cxperienco ofthe s¢ctur; WL focus8ttd ()n bpecific low& and regulatioiib which considcr¢d may hÈlVC a dire¢t malcrial ¢ffcGt on thL fuuncial statement5 or the operations of the ch8ritablc company, including th# Companics Act 2006. taxation legi$lali(Jn, data protection, anli-bribery, employment, ¢nvironmLnt&l hcAiih und siifely l¢Bislali(In' we assessed thc exlcnl of Lompliancc with the lawy and r¢8ulation8 idcnlificd gbove through making enquiriL8 of management and inspecling any Ic¥al corrcspondcnce; and identifjed laws and r¢gul*tivns wer¢ Communicated within th¢ audit tc8m rL'gularly &nd the team rethained alert to inslances of non-compliance throughout th¢ Audit. W¢ as¥¢ssed the susceptibility OY the Gharilablc Lompany's ffft8nLi&l statements to matcrial misslatem¢lll, including obluining an under8t4nding of how Iraud might oc¢ur, by.. making enquirie8 of managemont AS to where they considcrcd thcr¢ wa$ a su¥c¢ptibility lo fraud, their knowlcdge of actual, suspeLled and allv¥ed fraud. and con$id¢ring the internal contro18 in place to mitigate risks of fraud und non-¢ompliance with laws and regulallonB. To address th¢ risk of fraud through management bias and ov¢rride of contTo15, WC.. p¥rfornied analytical procedures lo idcntify any unusu81 or unexcted relationships. tcstcd journal entric5 to identify unusual transaction io
The Mayfield Trust Company Limlted by GuAranlee Independent Auditor's Report to the Members of The Mayfield Tru8t (£otsalK*d) Year ended 31 March 2024 asscsscd whcther judgemcDts and assumptions mad¢ in delernjining the accounting estimates and where IndiliVe ofpulents'al bias,. and inv¢stigated the rationale behind any significant or unusual tran8action5. In response to th¢ risk of irregularities and non-compliance with laws and gULatiOnS. we desA8ned proGrdur¢s which included, but w¢re not limited to.. agreeing financial s(atemttnt disclosures to underlying sup)rtIng documentation. ding Ihg minutes of meetings of thosc chArged with governance; enquiring of management as lo actual and potential litigation and claims; and rcviewing any ¢orrespondence with HMRC, relevant regulators including the Ch&rilie5 Commi88LOn. Care Qualily Commission and Hcalth and Safety Exccutivc, and th¢ Comp8 legal advisor6, Th¢r¢ are inhereni limttations in our audit procedures described above. Th¢ more rcmov¢d Ihat18ws ind regulttlions pre from financial traD5a¢tions. the less likely it is that we would bccomc awar¢ of non- compliance. AudilingT Ntsndardb also limit the audil procedure5 r¢quir¢d to id¢ntify non-Lompliancc with law¥ And rcyulation5 to enquiry of the tN5tees and other management und Ihc inspection of rcgulalory and legal rrc8pond¢n¢¢, if any. Material misststemcnts that arise due to fraud can be harder to delLct Ihan th05¢ that Rri¥e from errnr a5 they may involve deliberate conccalment or Gollusion. A furthcr dc5GriPtion of our rcsponsibilitieg forthc audit of the fUnCIal 8t&toments 18 IucAted on the FinanLial Reporting Council's web8ite al www.frc.org.uklaudltorsr¢spon8ibilities. Thi5 description fon$ part of our Auditoti, Report li
The Mayfield Trust Company Limited by Guarantee Independent Auditor's Report to the Members of The Mayfield Trust (¢onilnHodJ Year ended 31 March 2024 Use of our report This report is made solely to the chty,8 members. body. in accordance with Chapter 3 of Part 16 uf thc Companies Act 2006. Our audit work has been undertaken so that we might stale to the charity's members thos¢ matters we are requir¢d to stat¢ to them in an auditor's rcport and for no other purpose. To the fullcsl extent pemiitled by law, we do not accept or &8sume responsibility lo anyone other than the charity and th charity's member8 as a bodyp for our audit work for this report. or for the opinions we have fornd. John Richard Hall {Senior Statutury Auditor) For and on bchalf of Walter Dawson & Son Chllrtcrcd 4ccountdnls & statutory auditor First Floor Offices, Unil A4 Old Power Way Lowficlds Busine85 Park Elllnd HX5 9r)B 3 FcbNary 2025 Iz
The Maytleld Trust Company Limited by Guarantse Statement of Flnancial Activities (Includlng Income and expendlture account) Year ended 31 Mrdrch 2024 2023 2024 2023 Total funds Total fill8 Note Income endowments Donations and legHcics Charitable a¢tivities Other trading 8¢tiviii¢s Investmcnt incomc 2.664 4J97027 1,541 3.849,736 9,492 8,759 13,649 4,614,140 Total Ineome 3,869.528 Expendlture Expttnditure on r&i8ing fun¢i8: CosLq of othcr trading activitics Expenditurc on chAriIp4bl¢ activitie8 Tot•1 ¢xpvndlturu (2,631) (4,483,444) (3,724,080) (4,483,444) (3,726,711) Net (108se8)/gains on investments li 9A20 (23,281) Net Income And net movement In fun 140.216 119,536 Reconclll*ilon of funds Total ndS brought forward Total lundi c8rrled fonvard 2,371,987 2,512,203 2252,451 2.371,987 All of lh¢ ¢harity'$ fvnds wer¢ unr¢8trict¢d In both the current and prior year. statement of financial gctivitiC8 includes all sains and losse8 reco8nis¢d in the year, All income ar expenditure deriv¢ from continuin8 4¢tivitie8. Th¢ note8 on pages 16 10 26 fom part of theie Ilnaneial •tatement& 13
The Mayfield Trust Company Llmlted by Guarantee Statement of Flnancial Position 31 March 2024 2024 2023 Note Flxed A$5¢ts TangibL¢ fixed asscts Inv¢stTnMts 16 17 1.851.866 482.429 1,882,902 464.358 2.334,295 2,347.260 Current asiets Debtor8 Lash at bank and in hand 18 624,937 402,478 373.929 249,688 623,617 1,027,415 Credltor8: amounty falllng due Ivllhin one year 19 567,Ib82 296,561 Net current ajitti 460,333 2,794.628 327.056 I'TrtAI as8ets less ¢urr¢nt IIAbllities 2,674,316 Credltorl: Mmountj fAllin% due ¥fter rnore than one ye*r Net assets 20 282.425 302,329 2.371.987 2,512,2113 Funds of the ¢harlty Unrestricted funds 2,512,203 2,511,203 2.371.987 Total charlty fund 23 2,371.987 These financial stat¢ments have been prepar¢d in aLcordance with the proviiiions applicable lo compani¢s subj¢¢t to the srnalL companies, regime, These financial 9talemenl¥ were approved by the board of tru5te¢5 and auihorised for i88u¢ on 3 February 2025 and are l>igned on behalf of the board by: Rcscott Trustec Company R¢gi5tration Number. 02562377 The notes pageB 16 to 26 furm part of these nnancI 8tatements. 14
Tbe Mayfield Trust Company Llmited by Guarantee Statement of Cash Flow8 Year ended 31 March 2024 2024 2023 Cash flow8 from operydtlng aetlvitie9 Nct income 1411,216 119,536 Adju,¥lmenlsfar." Depreciation of tangible fixed assets Net (gain8yios8es on Anvcstm¢nts, Dividends, interest and rcnts from investments Intcrest payable and similar charges Pwflt on ditlposal of tan8ibl¢ fixed as8¢ts 64,932 (9,S20) {13,649) 26,146 (1,889) 55.1¢94 23,281 (8,759) 23,254 (4,078) ChaNge$ in.- Tradc and other debtors Tradc and oih¢r Creditors (251,008) 269,161 (100,056) 70,417 179,4¥9 N¢t ¢a8h from op¢ratin8 activities 224,389 Cash tlowy from Invesdng actlvltle8 Dividends, interest and rents from inveslm¢nls Purchase of tangible assets Procccds from sal¢ of langibl¢ 8sscIs Purchascs of other inv¢6tm¢nts ProedS frum sal¢ of oth¢r invcstsncnts 13,649 .759 (38,6117) (484,172) 6,001 4,200 (381,066) (749,¥52) 372,515 746.143 (26,909) (474,922) Nct cash $¢d in invcslin¥ Activitie8 Cgsh flows frnm flnanelng Acdvlllej Rcpaymenis of botyowings Intcrcst paid Ncl cash (used inyfrom financin¥ tiVItieS (18,544) (26,146) (44,690) (2l,03n (23,254) (44,291) Net Increa1(deereaje) in cash 2nd cAsh equivAlents Cash and cabh equlvalents At beglnnlng of y¢Ar Cash and cAyh equlvilenty at Lnd of year 152,790 249,688 (339,724) 589,412 249,688 402,478 The notes on p8ge5 16 to ZO form part of tkne flnan¢ial statement& 15
The Mayfield Trust Company Limited by Guar4ntee Notes lo the Financlal Ststemtnts Year ended 31 Mareh 2024 General iTJformAtifjn Thc charity is a public ben¢fit entity and a private company limited by guarantcc, rcgistcrcd in England and Wal¢li and a rcgistcred charity in England and Wales. The address of the registered 01CC is Mayfield Hoube. W&st Royd C105¢, Tlalifax, IIXI 3BE. Statement of ¢ompllAn¢¢ The8¢ financial siatcmenls have b¢¥n ppard in compliance with FRS 102, The Financial Rcporting Standard Rppli¢ablc in thc UK and the Rcpublic of Ireland,, th¢ Statoment of Recommcndcd Practicc applicable to charities preparin8 their accounts in COrdanCe with the FinanLial Reporting Standard applicable in the UK and Republic of Ireland (Flis 102) (Charilie8 SOIiP (VKS I02)). Ihc Lvmpanie5 Act 2006 and ihe Charities Act 2011. Accountin&. polleitA Ba$lJ of preparAtinn The Mayfield TNst meets the dcfiniiion of 4 public bcn¢fil entity undcr FRS 102. The financial statements have been prepar¢d on th¢ historical cost basi8, as modifi¢d by Ihe r¢v&luation of certain financial ass¢ts and liabilitics. The financial 8tatemeThts are prepared in Rlcrling, whiih is th¢ funLtional currency of the ¥ntily. Going concer There are no material unc¥rtainli¥s &b()ut the charity's ability lo continue. Judgements and key sources of eitSmatlon uncertalnly The most significant ar¢as of unGertainty that affect thr charity orc Covid-19 as dis¢w$sed in the Annual Report, the lev¢ls of invcstmcnl return. k¢y judgements around property valuations and provisions. the impactof the national livinywage and pension incrcascs. public sector funding and its impact on seryice us¢r numbor¥. Fund a¢¢ountlng UnrcslrictLd tund¥ available for usc al th¢ di8crction of Ihc tNs¢ees in the furtherancc of thc gcncral objLctives of the charity. Uftre8trieted funds in¢lud¢ a r¢valuation r¢8¢rye r¢pr¢8entinB th¢ r¢s18l¢ment of fixcd assets. D¢8ignaled tunds arc unrcstricted funds eannark¢d by th¢ truste for particular purpo8¢8. Transfers lo or from Ihc dcsignal fvnd are at Ihe Irustces, discrclion. Rcstrictcd fund5 a subjected to restrictions on their cxpcnditure irnposcd by thc donor or through the l¥mis of an Hppcal. 16
The Mayfjeld Trust Company Limlted by Guarantee Notes to the FinaneiAI Statements fc•liA¥edJ Year ended 31 March 2024 Accoundng pollcles Ineomln£ resnurce5 All incoming resourcey are included in the slatemcnt of financial a¢tivities when ettliileinent has passed to the charity, it is probablc Ihat thc cconomic b¢n¢fits associated with the transaction will flow to the charity and the amount can be reliably mcasured. The followiiig sp¢¢ific poliGi¢s 3r¢ applied lo parlicul&r catv¥orie$ of income.. income from donations or grants is rccogniscd when there is evidence of ¢ntitlemcnt to Ibe gift, receipt 18 probablc and its arnount can bc mcasur¢d reliably. income from contracts for thc supply of services is recognised with the deliv¢ry of thc contracted scrvice. This 18 classificd a8 unr¢slricled ndS unless Iherc is a contracbjal requirement for it to bc 8pLnt on a particular purposc and returned if unspenL in which case it MRY be r¢¥arde4188 reslricte(L inv¢stmcnt income is includ¢d wh¢n re¢¢ivablc. R¢$oureeJ expended xpenditU. has bL¥n ¢hargLd to the qlalemenl ot financial aLlivits'Ls on 8n aCL.nL5 basis inclusiv¢ of VA'f Ihol cannot bL rL'Lov¢rcd, and is rcportcd a8 part of th¢ ¢xp¢nditurc lo which il N'lalc.q.' C051t> ofguncraling fundy ¥omprise th¢ Lo1 aB8ocialcd with altracling voluniary inLom¥. ChBritsbl¢ vxpendihirL' wmpri805 those cost8 inLury¥d by th¢ Lh&rity in the delivery of its 4clivitie¥ and sLrvALLS tor its beneficiorics. 11 includ¢s both costs that Lan bc allocuted dir¥Ltly lo such actxvitlC8 wnd thos¢ costs of ¥n indircGt nature to l•UPPOrt them. Governance costs include thuse costs 4ssoci&led with mcclingi the conslitutiunul and stal0ry rcquircmcnls of the chdrity and in¢lud¢ audit fcci> and costs linkcd lo ihe 8tr&te8ic m80&8¢ment of the harity. All costs are allocated betwe¢n the expenditure cotegorie8 of the statement of financial activilie8 on a basis designcd to refl¢cl the Ube of the resour6e. Losls relating lo a particular aLtivity are alln¢ated directly whilst others are apportioned on an appropriate bahis. Operatlng leas R¢nl41s pAy8ble under opcraling leases are charged to the statcnient of financial activitie8 aB incurred. Tangible Asgets Land and buildings arc 8tad at deemcd cost Using a revalualion under previouB UK GAAP. Furnishings, equipment and motor vehicles are slated at cost. Fixed assL•L8 are capilalised and the relevant expcnditure is incurred oil an accruals ba81%. The cos18 of minor additions or thosc Losting below £1,000 are not generally capitaliscd. 17
The Mayfield Trust Company Llmited by Guarantee NoteB to the Financial Statements (LooliAuedJ Year ended 31 March 2024 Aecounting policles Depredatlon Depreciation is ¢alculaled so a& lo wrile off the Lost or valuation of an asseL less its rIdual value, over the useful cconomic life of thal assc¢ tss follows-. Freehold buildings Fixtures and fittings Motor vehicles 20/0 straight linc 20'/D rcducing bdlance 33n/tr rL.ducing balanLe Fr¢¢hold land is not depreciated. Tnvestments Listcd investments are measured at fair value with chan8LS in fair value b¢in8 re¢ogniRed in income or cxpenditur¢. C*ih At b4nk and In h8nd Cash at bank and in hand includes ca$li and short temi highly liquid investments with a short maturity such us a deposit or similar account. Credltijrj 2nd provlslDnJ CrcditorB ai)d provisions AfL' rccogni8ed wh¢r¢ the charity has a present obligation rL'5ulting from a past evenl Ihal will pn)bably r¢¥uli in a Iransfcr of funds to a third party and the amoui)t duc tr) settle the obligation can bc measured or cstimakd r¢liably. Crcditor8 and provision8 arc n0rn1411y recognised gt their settjemcnt amount allowin8 for any Ifdde discounts duc. Fln•nciAI initruments A financial asset or a financial liability 15 rccoBni8cd only when the cntity becomcs a party to the contractual provisions of the inBtrurncnt, Basic fin8n¢ial instrumcnls are initially recognised at the amount receivabl¥ or payable including any rclated transaGtton costs. Current asscts and Lurr¢nt liabilities are subsequ6tlY mea8ured at the cash or other consideration cxpected lo bc paid or receivcd and not discounted. Wiere investments in thar¢8 or prcfcrcnce Shares are PLibliLly traded or their fair value can othenviNc bc me&5urcd roliably, the invcslment is subsequcntly measured lli fair value with ¢hBnges in fair value recognised in income and expenditurc. All other surh investm¢nts are subsequently measured al cosl loss impaimienl. For all cquity inslNmcnts r¢g8rdless of si8nifi¢uncc, and other financAal As5¢ts thAt are individually si¥nili¢ant. th¥yv a5ye&sed individually for impairnient. 18
The Mayfield Trust Company Limlted by Guarantee Note8 to the FinanclAI StAtemcntS {cgHlrn4edJ Year ended 31 Mareh 2024 Aceountlng pojlcles {ertwilAiirfd) Deflned contrlbution planj Contribulions to defined contribution plans ar¢ recognised as an vxpent4e in the period in which the relatcd service ig provided. PrcpId contribution& Are recognig¢d lls An asset lo thL extent that the prcpayment will Icad to a wduction in futiire puyments or a Lash refund. Llmlted by guarantee Thc compaTJy docs not have & 8har¢ ¢fypilal b¢ing a conipany limited by 8uarLntc¢. Individual trustee's liability is limited to & maximum or£i. Donatlong and leguclej TotAI fvnds Total Fwids 2024 2023 Donatlony Donations 2,664 1,541 Chxrltgblc Rctlvltlem TDtAI fundj Tolal Funds 2024 2023 Residential Humcs LLisurc Supported I.iving 1,076,179 790.564 2,731,084 1.004,¥64 604,6¥5 2,240,187 3,849,736 4,597,827 Other tradlnx actlvltlel Tot41 fijnds Total Funds 2024 2023 Fundrnising ¢vents 9,492 19
The Mayfield Trnst Compvdny Llmltsd by Guarantee Note8 to the Flnanclal Statements Year ended 31 March 2024 Investment Income Total funds Total Funds 2024 2023 Int¢rcst and divid¢nds reccivablc on inve8tments E3,649 8,759 Expendltur¢ OD charltible Attlvltles by aedvlty type Activities undertak¢n dir¢ctly Support costs Tot*1 funds 2024 Total fiu]d 2023 R¢8id¢ntial Homes L¢isur Supported Living ¥63,019 631,159 1,961,685 3,455,863 1,165.185 852,090 2,466,109 4,483044 L,037,584 639,602 2,046,894 3,724,080 220,931 504,484 1,027,581 ActivitlC8 undcrt4kcn dircctly Support COSt8 Tot&1 funds 2023 Residential Home8 Leisure Supported LivAll8 798.953 521,952 1,621,044 2.941.949 238.631 117,650 425,85D 1.037,584 639,602 2,046,894 782.131 3,724,080 20
The Mayfield Trust Company Limited by Guarantee Notes to the Financial Statements (Oowllvj Year ended 31 March 2024 10. AnatyAli of support ¢08ts Rc8idential Homes Supported Living Total 2024 Lcisurc Total 2023 Staff costs Premises Communications and TT Finance costs Gov¢manc¢ costs Travel and motor cxpenses LegHI and profe58ion81 Other expenses Bad d¢bis Dcprcciation and profits on disposal 103,881 103,230 l7.139 6.603 3.889 95,570 36,422 15,663 6,074 3.578 211.917 101,946 36,886 13,469 7,933 411J68 241,598 69,688 26,146 15,400 315.923 164,766 32,910 23,254 16,180 1.169 17,375 32,483 4,588 l4.162 29,789 9,383 31,401 58,100 15,140 62,938 120J72 19,170 25,091 84,067 48,954 16,397 302,166 15,085 220.931 33.449 64,931 1.027.581 51,816 782,131 504.484 R¢sid¢ntial Home8 Supported Livin8 Tol812023 Leisure Staff costs Premi¥es CurnmuniLution¥ and JT Finance costs Govemanc¢ costs Travel and motor expenses Legal and profc86ional Other expens¢$ Bad debi Deprcciation and profits on disposal 86.693 87,233 9.647 6,372 4,440 48.335 13.965 4.652 3,585 2.475 180.895 63.568 18,611 13.297 9,265 315.923 164,766 32,910 23.254 16.180 1,683 7.437 22.435 10,738 3,722 23,818 6,749 13,932 37,814 48,954 19,170 25,091 84,067 48,954 12,691 238,631 6.360 117,650 32.765 425,850 51.816 782.131 I l. gaInO0$se9) on Investments Total Fundj Total Pund8 2024 2023 Losscs on sale of li8t¢d inv¢stmenlS Gaitbsl{Ios5¢5) on r¢valuation of inve5tment8 (7.173) 16.693 (16.244) (7.037) (23,281) 9,520 21
The Mayfield Trust Company Limited by GuArantee Notes to the Financlal Statements YeAr ended 31 March 2024 12. N¢tlllcDme Nct incornc 15 sl&icd after charging/(¢rediting)'. 2024 2023 Depreciation of tsngiblv fix¢d asKts Gain on disposal of tangible asscls FeeN payble for the audit of the financial slalements Operating I¢C costs.. equipment 64,932 (1,889) 8,640 2964 55,894 (4,078) 9,420 11.225 13. Stft.[ colts The totsl sthFf Losts and employee bencfits for the reporting period are analys¢d os follows,. 2024 2023 W&geti and sal2ri&8 Social qecurity costs Employer contributions lo pension plan¥ 3,589,4S2 273,436 67,865 ?..952.434 213.031 52.139 3,930,753 3,217,604 Thc average head count of cmployec8 during the year was 165 {2023: 151). Th¢ averag¢ numbcr of 11-lime equivalent ernployees during th¢ ar Is analy8cd as follows.. 2024 2023 No. Ol¢e and munagemcnt slu Carc wvrkcrs 15 112 13 I iu 127 123 One employee received cmployee benefits of between £60.000 aiid £70,000 during Ihc ycar {2023: onc). No oth¢r Lmployees CeIved cmployee benefits of ni(Ire than L60,000 during either the current nr prior year. Key Mlnagemeot Personnel Kcy managernvnt personnel include all persons that have authority and re8ponsibility for planning, diroctin8 and controlling the activities of the charity. The total compensation paid to kcy mana8em¢nt pcrsonncl for services provid to th¢ charity wa8 £190,841 (2023: £204,838). 14. Trujtee rernuneradon And expenges No remuneration or oth¢r benefits frorn employment with the charity werc received by thc CounGil of Managcmcnt. No expenses havc b¢en incurred by the Council of M*na8cmcnt. IS. Tran8f¢ri between lknnds The r¢striclcd funds received for applicable a¢tivAties arc all part contributions towards thc overall cost of the projecL Any deficit will be met by a transtcr from the gcncral fund. On the conclu5Aon ofany activity, any surpluses within restricted fun(ts are transferred to unr¢stricted funds following agrecmcnt with the fud9 provid¢r. 22-
The Mayfield Trust Company Limited by Guarantee Notes to the Financial StY4tementS (eonllA¥edJ YeAr ended 31 Mareh 2024 16. Tangible fixed amet8 Land and Fixtures and buildings fittings Motor vchicles Total Cost At l April 2023 Additiunt> Disposa16 At 31 Mxrch 21b24 2.045,098 2,196 372.727 17,116 71,429 19,295 (53.304) 37,420 2,489,2S4 38ffj07 (53a04) 2,474,557 2.047,294 389,843 DeprtclAtlon At l April 2023 Charg¢ for the year Disposals At 31 March 2024 273,583 37,930 271,273 22,002 61,496 5.000 (48,593) 17,903 60A352 64,932 (48593) 311,513 293275 622,691 Carrylnx amount At 31 March 2024 1,735,781 1,771.515 96,568 101,454 19,517 9.933 1,851060 At 31 March 2023 1,8132,902 Thc frcehold land and buildings arc recogni8ed at dcemed c08t from an earlior Kvalu8tion under previous UK GAAP. 17. Invejtments CAth or c88h Listcd ¢qUiV¥41cnls investments Totgl Cost or v4luatlon At l April 2023 Additions D1¥pOlS Fair valuc movcrnents 24,745 439,613 464JS8 187.320 193,746 381,066 (199,153) (173.362) (372,515) 9,520 9,52• 469,517 482,429 At 31 March 2024 L2.912 Carrylng amount At 31 March 2024 12,912 24,745 469,S17 439,613 4¥2,429 At 31 M4rGh 2023 464,358 All invcstmcnts shown abov¢ held at valuation. Flnanclal sets held at falr v41ue All listed investments arr di8¢lo&ed at their quoted market prACC whiGh is ¢onsidercd fait value. 23
The Mayfield Trust CompAny Limited by Guarantee Note8 to the Flnancial Statements (co#rfttved) Year ended 31 March 2024 IJ. Debtnrj 2024 2023 Trade debtors Prepaymcnls and &Gcrued incomc Other debtors 444,811 166,023 14,103 624,937 184,148 188,576 1,205 373,929 19. Credltors.. omounts falllng due Ivlthln one yeir 2024 2023 Bank lohns and overdrafts Trade credilors Accruals and deferred incomc Social security and other taxes Oth#r credit(>rs 21,419 19,223 464,083 27J68 34,989 507,1181 20,059 36,857 163.668 48.711 27,266 296.561 20. Credl¢orJ: amount¥ filling due after more than Dne ye8r 2024 2023 Bank loans and overdrufts 282,425 302,329 Included within Credir8.. ornounl8 falling due after morc than ane year is an amount of £180,105 (2023: £177,958) in respect of liabilities payAble or repay4bl¢ by in8talments whi¢h fall due forpaymenl after more Ihan five years from the reporting date. Thc tcml of the loan 18 1 S year8 at an interest rate charge of 3Yo abov¢ ba8c rate. The b&nk loan falling due within and after more than onL year iothlling £303,844 (2023: £322,3811) 15 secured by a fixed and floating charge against a company property. 21. Deferred Income 2024 2023 At l April 2023 Amount released tu income Amount deferred in year At 31 March 2024 25,833 (25,833) 38,426 38,426 30,814 (30,814) 25.833 25,833 Deferred ineomc congisti of Residcntial Homes and Supported Living contribution8 Paid in advance.
The Mayfield Trust Company Llmlted by Guarantee Notes to the Financi•l Statementi Year ended 31 March 2024 22. Ptnglong and other poit-rtilrement beneflts Defined contrlbutlon phns The Amount recognised in income or expenditure a5 an expense in relation to defined Contribution plans was £67.¥65 (2023: £52,139). 23, AnAly81i of charlt&ble Unre8trt¢ted fund8 At l April 2023 G1n8 and Al losses 31M4r2024 Incomc Expenditure TrAnsfers Gcn¢ral fimd6 Investm¢nl revaluation re8¢rvc Residentiol Homcs Outreach Service Supported Living Scnsory Garden 2,210,757 4,614,140 (4,483,444) (7,173) 2,334,280 156.940 893 2,124 1,273 16,693 173,633 893 2,124 1,273 2,371,987 4,614,140 (4.483.444) 9.520 2,512,203 At l April 2022 Gains &t At Iossey 31 Mar 2023 InGomc Bxpcnditurc Tran8fcrs Gcncr&l fund8 Investment rcvaluation reserve Residential Homes Outreach Service Supported Livin8 Sensory Garden 2,086.010 3,860,115 (3,719,116) (8) (16.244) 2,110,757 163.977 763 2.707 1.273 (2.279) 8,164 (5,893) 1252.451 .3.869,528 (3,726,711) (7,037) 156,940 893 2,124 1,273 130 1.119 (1,702) {23,281) 2,371,987 The dcsignat¢d funds rcpicsenlcd donations and resuurc¢8 from activities for Bcnmltng funds, to contribute towards financing th¢ wsl of the Residentid Homr¥ and Lhc Outreach and Support¢d Livin8 sctvire
The MAyfJeld Trust Company Ijimited by Guarantee Notes to the Flnanclal St2tementS (conllnw¢rl) Yeydr ended 31 March 21124 24. Flnanclal Instrumcnts The lly1ng amount for each catcbyory of fjnancial iiislNm¢nt is as follows.. 2024 2023 Flnan<l*l assets meagured it fxlr value through Income and eApendlture List¢d investments Cash 469,517 12,912 482,429 439,613 24,745 464J58 25. AnAlysls of In net debt At At l Apr 2023 Cash flows 31 Mgr 2024 Cash at bank and in hand Debt du¢ within on¢ y¢ar D¢bt duc attcr one year 249,688 (20.059) (302,329) (72,7110) 152.790 (1,360) 19,904 4D2,478 121,419) {282,425) 98,634 171,334 At At l Apr 2022 Cash fluws 31 M•r 2023 Cash al bank and in hand D#bt duv within un¢ yeur Dcbt duc aftcr onc year 589,412 (22,860) (320.565) 245,987 (339,724) 2.801 18,236 249,688 (20,059) (302,329) (318,687) (72,7(10) 26. OperAtlni leAie commltm¢nli Th¢ total future minimum lease payrncnls und¢r non-nCelIable opcrating l¢&s¢s arL as follow8: 2024 2023 Not later thlln l yLar Later than l year and not l&ter than 5 year¥ 1,410 353 2,964 1,763 1,763 4,727 27. Related parties There were no rcllted party transaclions rcquiring disclosu itt either the current Dr prior year. 26