Registered Company Number.. 2647631 (England and Wale51
Registered Charity Number-. 1004537
Avocet Trust
Report of the Trustees and Consolidated
Financial Statements
For the Year Ended 31 March 2024
Fawley Judge & Easton
Chartered Certified Accountants
I Parliament Street
Hull
HUI 2AS

Avocet Trust
Contents of the Financial Statements
for the Year Ended 31 March 2024
Report of the Trustees
Ito4
Report of the Independent Auditors
Sto7
Statement of Financial Activitles
Balance Sheets
9tolO
Cash Flow Statement
Ilto12
Notes to the Cash Flow Statement
13
Notes to the Financial Statements
14to23

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
The trustees present their report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1.1 to the financial
statements and comply with Avocet Trust's governance documents, the Companies Act 2006 and "Accounting and Reporting
by Charitie5.' Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" la5 amended for accounting period5
commencing from l January 20161
Objectives and activities
Avocet Trust's objectives are set out in the company'5 Memorandum and Articles of Association and are as follows: _
The relief of vulnerable adults who are disabled or otherwise disadvantaged by the provision of facilities including
hou51ng assigned to meet their need5.
The relief of persons particularly young persons who are homeless or threatened with homelessness by providing or
assisting in providing accommodation and support for such persons.
During the past f inancial year, the Charity has continued to carry out its objectives of providing care and support for those people
who are disadvantaged. There has been no change in these during the year.
The Trustee5 have paid due regard to guidance issued by the Charity Commi55ion in deciding what activities the Avocet Trust
should undertake.
The main client group which Avocet Trust support5 the profound learning disabilities which are often associated with physical
disability and other health problerns. We also look after clients on the autistic spectrum.
The main objective is to conti nue with our fundamental aim to assist clients, many with limited communication ski115, to be
able to expre5S their needs and want5 and to have enjoyable company and support from staff they like and trust.
The strategies employed to achieve the Charity's objectives are to:
offer opportunities for clients to live in a quality environment through the purchasing of domestic properties
appropriate to the client's needs.
Provide highly qualified Staff specifically employed to 5UPPOrt clients to reali5e their interests and choices in their
personal life and to maximise client's personal developments.
Provide full and valued life opportunities through community involvement and integration and by creatinE
opportunities and choice for Avocet's clients.
The major areas of activity are-
The majority of Avocet Trust's income IS Eenerated by residential clients housed in well-appointed domestic housing of high
standard, appropriate to our client's needs. We ensure that clients are comfortable and secure in a pleasant and welcoming
environment. Clients are able to stay in the house of their choice or to move to a more appropriate accommodation as their
needs change.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
Achievements and performance
CEO - old term for the overall manager. O.D - Operations Director which we adopted, and Ivan fulfils this role. Succe55i0n
planning is clear as in Ivan's absence Sonia is acting up albeit Ivan is consulted for advice. lain and Monique form the SMT
alongside Tommy. Monique is the named responsible person.
MET=Mathews Enterprise Trust our day-care service at Preston or sometimes called Neatmarsh.
CQC- Care Quality Commission. LA= Local Authority.
The Trust has managed a major series of changes over the last year. These are identified under the following headings.
Management, Finance including Asset5, Core business and Future.
Criticism of previous practise is part of this report. In March 2023 we conducted 3 full review of the Trust and this is part of this
report. The Trust imploded quickly and without significant changes would have financially been crippled and senior staff would
have resigned had the CEO remained in position.
The board were informed in December 2022 that we were solvent, could afford the farm purchase and were 2% above break
even financially. The finance officer resigned in January 2023 and by February and unknown to trustee5 the financial position
was poor. Friday March 3, was when the bank letter wa5 received. the extraordinary meeting prior to meeting the bank was on
Tuesday 7, March. 2023.
Management
The CEO. LH. resigned at an extraordinary meeting, this was verbal and the follow up response from LH in written form was
accepted as his full resignation. This wa5 accepted unanimously. An acting CEO was appointed, now titled Director of Operations.
Is.
LH resigned during the meeting which was scheduled prior to meeting representatives from the Cooperative and Unity banks
due to the poor financial position we were in. Indeed. so poor we could not pay bi115 or services. This situation was not made
dear to the trustees until 3 days beforehand. I will refer to this under finance.
After review we discovered that MET our day service was losing money, the managers contractwas terminated underthe 2-year
employment rules, an interim manager was appointed as trustees determined its future.
We also ended the employment ofthe PA or project manager to the previous CEO. Again. after review of performance and some
poor decisions made without consultation, notably around the sale of property to a local building contrartor for £180,000 below
the agreed price with Moorview some months later.
The final 1055 occurred more recently. RN resigned following extensive Teviews of his medical capability to continue as
Maintenance and property manager. Hi5 letter was accepted.
The previous finance manager had resigned in January 2023 and had not been replaced when the crisis arrlved for the Trust.
We lost a house manager to a rival company and at the point of leaving had left the two service5 short of appropriate leadership
and direction. Had she not resigned then She would have been dismissed under capability which had already been put in place.
There were therefore some financial savings as the previous CEO was on a huge salary and the replacement at MET was far
cheaper and the project manager's role was not replaced. This allowed trustees. working with the DO, to restructure the
remaining staffing at HQ to afford a leaner team but with better pay. it also included a new finance manager. House managers
were also paid an increase for their extensive responsibilities.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
The restructure also afforded the two service5, identified as requiring improvements, to be 8EThER SUPPORTED. two staff left
these services before disciplinary issues could be followed up. Two managers were put in as 5UPPOrting staff and a new
manager appointed. who then also left the service. This situation has improved significantly under tight managernent and a
thorough series of interventions. CQC have visited and we await their rating.
The new O.D has from day I managed the crisis through to stability. he should be applauded for this as an independent
inspection la proviso of banking support) suggested the Trust should be wound up. We afe now into a third phase of
development and have a draft five-year plan. This followed an initial Recovery Plan which was followed by a Phase 2 plan
which involved a restructure.
The new financial controller has ensured trustees are kept fully informed alongside other stakeholders with clear cashflow
reportin& yearly budget plan and profit and loss for all services we manage. He has also taken on property management and
sales.
Financial review
In late February 2023. The trust was informed of a failure to stay within our agreed overdraft facility. This situation was
disguised from trustees by the previous CEO as warnings had been given. On receipt of thi5 information the bank letter was
shared with all trustees and a reply written to the bank inviting them to attend and discuss our position which occurred in early
March and was preceded by the extraordinary meeting at which LH resigned. Trustees and some SMT met the Cooperative
bank, and the proces5 of recovery was initiated without the then CEO.
The situation was dire with questions over sufficient funds to pay staff. pay services for food and any outstandin8 works bills.
Two days later at a pre-planned board meeting the CEO resignation letter was accepted, an acting CEO appointed, a recovery
plan written jointly by SMT and trustees and organised by the chair of the trustees.
We had conditions Set to receive an overdraft loan facility from the Cooperative Bank. The overdraft was agreed at £200.000
but we had to fund an indepenijent review by a Manchester based company. The company finally presented their report and
recommendations at a charge of E20,000 for what in effect we already knew. We accepted this to secure the loan at 4% above
base rate.
In summary the Trust Wa5 financially in a very poor place with a recommendation to fold from the independent report.
ress and achievement. From this poor position the following actions were implemented.
Pro
No payments were made without approval from the acting CEO. Spending controls.
Negotiations ensured all outstandin8 bills were paid in tranches and not in full to stay within the agreed loan limit.
As indicated some savings were made on staffing.
The new financial controller provided accurate reports to SMT and trustees.
We chased uplifts and outstanding debts, notably the NHS had not been billed correctly and a returning Member of
staff secured these payments were made to us.
All retail cards were stopped in the interim.
From the recovery plan 4 Assets were identified for sale. The farm purchased recently. the property identified to pay
for the farm, a property in Beverley which on inspection was not fit for registration with CQC despite the property
manager spending, unchecked by LH, large amounts of money for poor work and a lack of consideration of care
managers advice or to meet cac requirements or basic fire safety. A fourth Beverley property was identified and the
process of working with social care in the East Riding initiated. The two 8everley properties had clients and a family
living in them.
The acting CEO, financial controller and I met with officers of both Hull Council and East Riding council to be
tran5p3rent on our posltion in respect of asset sales, the need for appropriate uplifts per client and students in our day
service. Thi5 was very effective.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
9. Trustees became focussed on property sales and ensuring these were valued correctly and not at a price a local
property developer felt was appropriate. The valuation of one property increased by £180,000.
10. MET was placed on a wind down to closure process. However. in losing a member of staff and then reducing
expenditure an initial improvement was made.
Core Business
At the March 2023 recovery meeting we agreed we return to our core business, that being residential care. In
effect mothballing MET, stopping all other dubious plans for development, and reviewing staff. The core business
was the only guaranteed income to the Trust at more appropriate levels of renumeration. This did include the re -
opening of St Georges Road service following a closure during Covid. This would reduce voids (empty beds) and
increase income accordingly.
Progress. This ha5 been based on rnany action5 resulting in larger benefits to the Trust.
Some small steps become cumulative gains. I referred to the staffing restructure and payment improvements.
I refer to a different mentality from SMT which is attention to detail and far less of the grandiose schemes previously
suggested. The detail has improved income, controlled spendin8 and streamlined role5 and responsibilities.
The focus on core business means client fees are chased should a client need more support and including any NHS money.
The ability to work with people rather than ignore or not engage has paid dividends with our banks, funders and inspectorate.
Simple examples include funding students in day care has improved so much that MET make5 a profit not the £10,000 per
month losses.
Working proactively with social worker5 can ensure additional hours per client.
Working with banks ensures payment plans are within our ability to pay.
Working collectively has re- opened some of St Georges Road.
Assessing assets for sale is fine. ensuring current clients or families using property are rehoused avoids unpleasant media.
Negotiating with banks ensures they are less likely to determine the Trust is failing.
The culture has changed from head in the sand, we don't show respect to counci15 through to open, transparent actions.
friendly dialogue replacing old style aggressive and unpleasant situations. Finally. more open dialogue means all facts are
considered prior to decision making occurring.
Facts. We are solvent, have better incomes for clients and students. plan longer term, provide excellent training for staff right
from induction to in service. Have ensured MET is viable , retained most staff. increased clients. sold assets to pay off some
debts/loans. secured some good inspection reports under the new framework from CQC, relinquished some staff who had
hampered progress and have a happy set of client5.
Future. The care business will always have issues as client5 can become unwell, some sadly will die or regress due to medical
conditions. That is the rbature of care. It remains a poorly paid area of work for many workers but has high standards to
rnaintain.
Employing 280 staff will also result in staffing issues at times, the Trust works through these.
Outside of client care, our core business. We should increase our asset base 500n a5 Middlesex Road complex will finally
become a full Trust asset as sanctuary finally hand over the deeds. We are close to selling our third property which will clear
our Cooperative Loan and give u5 the capital to commence some well needed property improvements in a planned manner.
We can completely re open St George5 Road to reduce void5 and increase income. We now have a leaner but effective day
service. run correctly at better rates of fundin8.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
In respect of trustees, we need to increase by two at a minimum and have worked to secure this. Training needs to be
refreshed generally. and two further area5 of safeguarding vulnerable adults and diversity need to be delivered within the
Trusts current training regime.
In terms of increased income. we need a dedicated fundraiser seeking grants. funds and donations. Maybe a post for a part
time person.
We need to set out the five-year plan and the over five years review annually, amend as required and set targets from this
document for key staff within the Trust current appraisal system.
Trustees will review the risks of the charity over the next 12 months and record in a risk register.
Risk
The trustees have assessed the major risks to which Avocet Trust 15 exposed and are satisfied that Systems are in place to
mitigate exposure to the major risks.
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls
are in place to Bive assurance against error and fraud. The Trustees have a risk management strategy that encompasses the
revised Statement of Recommended Practice ISORP} issued by the Charity Comrnission in March 20Q5 and includes
requirement that the Report of Trustees should include:_
An annual review of the risks the Charity may face. including financial. governance. operational or reputational.
The establishment of systems and procedures to identify. assess and mitigate those risks identified in the plan in
accordance with Avocet Trust's charitable objectives.
The implementation of procedures designed to minimise any impact on the Charity should those risks materialise.
The Trust has well developed management procedures, governance protocols and has a 5VStematic programme of review in
place. In addition, the Trust has achieved a number of nationally recognised accreditations. including the Contractors Health &
Safety Assessment Scheme ICHASI, Positive about Oisabled People, The Fund-Raising Standards Board. It 15 also registered
with the British Quality Foundation. Avocet is also registered with the New Deal Employrnent Agency. The Trust h35 also
achieved the National Autism Society Accreditation for several of its services for Clients on the Autistic Spectrum.
It is Avocevs policy to give full consideration to applications for employment from disabled persons when a disabled person
can adequately fulfil the requirements of the job.
Should an existing employee become disabled. it is the Charity's policy to provide continued employment under normal terms
and conditions and to provide training and career development and promotion wherever p055ible.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
Thanks. We need to thank the current SMT most of which were retained and the two senior care managers for ensuring our
services are of the best quality P0S5ible. IS as the new Financial Controller and Ivan as OD for steering the ship through stormy
waters. Thanks to Mike Wicks of Unity bank for his continued support and flexibility over the year. I have written on behalf of
trustees to Mike.
Strurture. governance, and management
Avocet Trust is a company limited by guarantee which is governed by its Memorandum and Articles of Association dated 20,
September 1991 and amend to allow for current governance arrangements on 22. November 1995 and 16, October 2006. It
is a charity registered with the Charities Commission.

Avocet Trust
Report of the Trustee5
for the Year Ended 31 March 2024
The trustees. who are also the directors for the purpose of company law, and who served during the year were:
Mr C M Brown
Mr A D Tearle
Mrs J Comerford
Mr C Leferve
Mr R Dibb
Mrs J G Hyam
Mr I Spibev
As set out in Articles of Association the trustees will remain in office until an Annual General Meeting. At the annual General
Meeting of the company one third of the trustees shall be eligible for re-election as a trustee. The retiring trustee shall, if
offerin8 to be re-elected be deemed to have been re-elected. The aforesaid statement5 can be viewed in full and complete
within the Article of Association. When considering the appointment of trustees. the board has re8ard to the requirement for
any specialist knowledge and ski115 required by the trust.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and
guarantee to contribute £1 in the event of a winding up.
The Board of Tru5tee5, whith must have a minimum of five members. administers the charity.. they are responsible for the
polices, activitie5 and assets of the charity.
The board meets quarterly, to enable it to fulfil its responsibilities, review developments and make policy and strategic
decisions. Such strategic decisions include, for example. agreeing the trusts busines5 plan. new contracts of employment and
staff training strategies
There are a number of Trust Board sub-committees each chaired by a trust board trustee to address specific areas of the
trust's business. The standing Trust Board sub-committees include business development, health & safety, quality assurance,
human resources, risk management, finance. and ICT. There is also a parents and relatives sub-committee as well as a Staff
Consultative Committee.
The day-to-day management of the Charity and the implementation of its policies are delegated to the Director of Operations
and members of the senior management team. To facilitate effective operations. the Director of Operations has delegated
authority, within terrns of delegation approved by the trustees, for operational matters including the management of client
services, finance, employment. and other related activities.
Related partie5
Avocet Trust has a subsidiary company, Kingfisher Housing {Hulll Limited. The principal activity of Kingfisher Housing (Hull)
Limited is that of the development and rental of property. The properties are occupied by the clients of Avocet Trust. Brian
Crosher Training Ltd is a further subsidiary company of Avocet Trust. This company 15 dormant.

Avocet Trust
Report of the Trustees
for the Year Ended 31 March 2024
Public Benefit statement
The public benefit commitment of the Trust includes the provision of financial support for a Short Stay Respite service. The
initial provision of this service was to provide respite service for hard pressed families. It has been successful in this regard.
When necessary. the Trust will provide fund5 to access this service at a discounted rate.
The Trust has funded 3 holiday home on the east coast where our clients and their families can stay. This facility is free and is
well used.
The Trust has 3 second holiday home facility on the Neat Marsh site in the East Yorkshire villaBe of Preston. This facility is
available free of charge to any vulnerable person.
To continually improve our support to vulnerable people and their families we offer them training courses free of charge.
Employee involvement
Applications for ernployment by disabled persons are always fully considered, bearine in mind the aptitudes of the applicant
concerned. In the event of members of staff becoming disabled. every effort is m3de to ensure that their employment within
the Avocet Trust continues and that the appropriate training is arranged. It is the policy of the Avocet Trust that the training,
career development and promotion of disabled persons should. as far as possible. be identical to that of other employees.
Statement ol Trustees Responsibilities
The trustees, who are also the directors of Avocet Trust for the purpose of company law. are responsible for preparing the
Tru5tees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards
Iunited Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the
state of affairs of the Avocet Trust and of the incomin8 resources and application of resources, including the income and
expenditure. of the charitable company for that year.
In preparing these financial Statements. the trustees are required to:
select suitable accounting policie5 and then apply them consistently.
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Avocet Trust will
continue in operation.
The trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any time the
financial position of the Avocet Trust and enable them to ensure that the financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the Avocet Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
In 50 far as the Trustees are aware-.
there is no relevant audit information of which the charitable company's auditors are unaware- and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
The Trustees, report wa5 approved by the Board ofTrustees on 5 December 2024
Mr A Tearle-
rustee

Avocet Trust
Report of the Auditors
for the Year Ended 31 March 2024
Opinion
We have audited the group and company financial statements of Avocet Trust (the 'parent company'l and its subsidiaries (the
group) for the year ended 31 March 2024 which comprise the statement of financial activities. the balance sheet. the statement
of cèshflows and the notes to the financial statements, including significant accounting.policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunited
Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102.
In our opinion. the financial statements:
give a true and fair view of the state of the charitable company's affairs as of 31 March 2024 and of its incoming
resources and application of resources, for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinlon
We have conducted our audit in accordance with International Standards of Auditing IUKI {ISAs IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditorfs responsibilities for audit of the financial statements
section in our report. We are independent of the Avocet Trust in accordance with the ethical requirements that are relevant to
our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to golng concern
In auditing the financial statements. we have concluded that the TfU5tees' use of the going concern basis of accounting in the
preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to event5 or conditions that,
individually or collectively. may cast significant doubt on the Avocet Trust's ability to continue as a goin8 concern for a period of
at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections
of thi5 report.
Other informalion
The other information comprises the information included in the annual report other than the financial statements and our
auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion
on the financial statements does not cover the other information and we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially
inconsistent with the financial statements. or our knowledge obtained in the course of the audit. or otherwise appears to be
materially rnisstated. If we identify such material inconsistencies or apparent material misstatements. we are required to
determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on our work we
have performed. we conclude that there is a material misstatement ofthis information, we are required to report that face.
We have nothing to report.

Avocet Trust
Report of the Auditors
for the Year Ended 31 March 2024
Matter5 on which we are required to report by exception
We have nothin8 to report in respect of the following matters in relation to which the Charities {Accounts and Reports)
Regulations 2008 require us to report to you if. in our opinion:
the information given in the financial statements is inconsistent in any material re5pert with the Trustees, report; or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records- or
we have not received all the information and explanatiorbs we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of Trustees, responsibilities, the trustees, who are also the directors of the Avocet
Trust for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied
that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation
of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial
statements, the trustees are responsible for assessing the Avocet Trust's ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the 8oin8 concern basis of accounting unless the trustees either intend
to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Att and
relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance
is a high level of assurance but is not a guarantee that an audit condtjcted in accordance with ISAS IUKI will always detect a
material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Extent to which the audit was considered capable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with
our responsibilities. outlined above, to derect material misstatements in respect of irregularities, including fraud. The extent
to which our procedures are capable of detecting if regularitie5, including fraud, is detailed below.
We considered the nature ofthe compan¢s industry and its control environment and reviewed the company's documentation
of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management
about their own identification and assessment of the ri5k5 of irregularities.
We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key
laws and regulations that-
had a direct effect on the determination of material amounts and disclosures in the financial statements. These
included UK Companies Act and tax legislation- and
do not have a direct effect on the financial statements but compliance with which may be fundamental to the
company's ability to operate or to avoid a material penaltv.
io

Avocet Trust
Report of the Auditors
for the Year Ended 31 March 2024
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the
organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAS (UK). we are also required to perform specific procedures to respond to the risk of
management override. In addressing the risk of fraud through managernent override of controls. we tested the
appropriatene55 of journal entries and other adjustments.. assessed whether the judgemenls made in makingaccounting
estimates are indicative of a potential bias. and evaluated the busine55 rationale of any significant transactions that are
unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the followin8=
reviewing financial statement disclosures by testing to supporting documentation to asses5 compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial statements,.
perfoTrning analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud,. and
enquiring of management concerning actual and potential litigation and claims. and instances of non-
compliance with law5 and regulations
A further description of our responsibilities is available on the Financial Reporting Council's website at..
https://www.frc.or
Vauditorsresponsibilities. This description forms part of our auditor's report.
an Leathley (Senior Statutory Auditor)
and on behalf of Fawley Judge & Easton
Chartered Certified Accountants
Statutory Auditor
I Parliament Street
Hull
HUI 2AS
S December 2024
Fawley Judge & Easton is eligible for appointment as auditor of the Avocet Trust by virtue of its eligibility for appointrnent
as auditor of a company under of section 1212 of the Companies Act 2006.
li

Avocet Trust
Consolidated Statement of Financial Activities and
Income Expenses for the Year Ended 31 March 2024
2024
2023
Unre5trirted
funds
Total
funds
Total
funds
Notes
INCOMING RESOURCES
Incoming resources from generated funds
Investment income
Incoming resources from charltable artlvities
General
Grants
Surplus on disposal of fixed asset
7.018,422
49,974
7,018.422
49,974
5.849.839
50,038
Total incomlng resources
7.068,396
7,068.396
5.899.877
RESOURCES EXPENDED
Costs of generating funds
Fundraising trading- cost of goods sold and
other costs
Charitable activities
General
Governance costs
7,032,101
138,993
7,032,101
138,993
6,283,806
43,842
Total resources expended
7,171,094
7,171,094
6,327.648
Revaluation
GainllLossl on disposal of fixed asset
INCOMING RESOURCES
252.650
1193.6901
143.7381
252,650
1193,6901
143,7381
428,230
{21.0691
{20,6101
RECONCILIATION OF FUNDS
Fund balances at l Apfil 2023
4,153,540
4,153,540
4.174,150
TOTAL FUNDS CARRIED FORWARD
4,109,802
4,109,802
4.153.540
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing attivities.
The notes form part ofthese financial statements
12

Avocet Trust
Charity Balance Sheet
at 31 March 2024
2024
Total
funds
2023
Total
funds
Note5
FIXED ASErs
Tangible a5set5
Investments
io
12
4.746.195
li
4,971.790
li
4.746.206
4,971,801
CURRENT ASSErs
Debtors
Cash at bank and in hand
15
1,451,685
85,660
1,571,340
9,869
1,537.345
1,581,209
CREDITORS
Amounts falling due within one year
16
1986.5091
1916.4161
NET CURRENT ASSETS
550 836
664 793
TOTAL ASSETS LESS CURRENT
LIABILITIES
5.297.042
5,636,594
CREDITORS
Amounts falling due after more than one year
17
11,354,502)
11.695.066)
NET ASSErs
3.942.540
3.941,528
FUNDS
Unrestricted funds
3.942,540
3.941,528
TOTAL FUNDS
3,942,540
3,941,528
th
The financial statements weTe approved by the Board of Trustees on 5 December 2024 and were signed on its behalf
By
Mr A Tearle-Trustee
The notes form part of these financial statements
13

Avocet Trust
Consolidated Balance Sheet
at 31 March 2024
2024
Total
funds
2023
Total
funds
Notes
FIXED ASETS
Tangible assets
Investment property
io
13
4,746,196
1,645.000
4,971.791
1,779,000
6,391.196
6,750,791
CURRENT ASSETS
Debtors
Cash at bank and in hand
15
597,007
86,528
647,233
9.869
683.535
657,102
CREDITORS
Amounts falling due within one year
16
11,024,385)
{954.2911
NET CURRENT LIABILITESIASSErs
(340,8501
1297.1891
TOTAL ASSETS LESS CURRENT
LIA81LITIES
6,050,348
6.453.602
CREDITORS
Amounts falling due after more than one year
17
(1,940,544)
{2.300,0621
NEf AsS￿s
4.109,802
4,153.540
FUNDS
Unrestritted funds
20
4,109,802
4.153,540
TOTAL FUNDS
4,109,802
4,153,540
th
The financial statements were approved by the Board ofTrustees on 5 December 2024 and were signed on its behalf
By
Mr A Tearle - Trustee
The notes form part of these financial statements
14

Avocet Trust
Consolidated Cash Flow Statement
for the Year Ended 31 March 2024
2024
Group
2023
Group
Notes
Cash used in operating artivity
Interest paid
365.279
(202,9721
162,307
1390.8151
148,8261
1439,6411
Cash flows from investing activitv
Investment income
Proceeds on disposal of fixed assets
Proceeds on disposal of investment property
Purchase of tangible fixed assets
20,185
315,519
102,501
26,247
88.931
1593,4971
Cash provided by (used inl investing artivities
444.267
(504,5661
Cash flows from financing activity
Repayments of bank loans
Repayment of borrowings
Financing
Increase in bank overdraft
1409,2381
1134.9661
14,3901
435.000
120,677
1120,677)
Cash used in financing artlvlties
{529,9151
416.321
IncreasellDecrease) in cash and cash
equivalents in the year
Cash and cash equlvalents at the
beEinning of the year
Total cash and cash equivalents at
the end of the year
76,659
{527,8861
9.869
537.755
86,528
9,869
15

Avocet Trust
Notes to the Cash Flow Statement
for the Year Ended 31 March 2024
RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING AcfiviTIES
2024
2023
Net incoming resources
Revaluation
Depreciation charges
Loss on disposal of fixed assets
Decrease/lincreasel in debtors
{Decreasellincrease in creditors
(Decreasellincrease in deferred income
Interest paid
143,7381
1252,650)
45,732
102,828
50,226
207,512
2.171
202,972
120,6101
{428,230)
44,185
21,649
1151,6961
107,936
{12,8751
48.826
Net cash outflow from operating actlvlties
365,279
1390.8151
16

Avocet Trust
Notes to the Flnancial Statements
for the Year Ended 31 March 2024
ACCOUNTING POLICIES
Charity information
Avocet Trust is a private company limited by guarantee incorporated in EnEland and Wales. The registered office is
Clarence House, 60-62 Clarence Street, Hull. East Yorkshire, HU9 IDN.
Accounting convention
The financial statements have been prepared in accordance with the Avocet Trust's Igoverning document), the Companies
Act 2006 and "Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities
preparing tkneir accounts in accof dance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 1021" las amended for accounting periods commencing from l January 20161. The Avocet Trust is a Public Benefit
Entity as defined by FRS 102
The financial statements are prepared in sterling, which is the functional currency of the Avocet Trust. Monetary 3mounts
in these financial statement5 are rounded to the nearest £.
The financial statement5 have been prepared under the historical cost convention, modified to include the revaluation of
freehold properties and to include investment properties and certain financial instruments at fair value. The principal
accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102. being a member of a group where the parent of that group
prepares publtcly available consolidated financial statements. including this company, which are intended to give a true
and fair view of the assets, liabilities, financial position and profit or Ios5 of the group. The company has therefore taken
advantage of exemptions from the following disclosure requirements for parent company information presented within
the consolidated financial statements-
section 4 '5tatement of Financial Position,
Reconciliation of the opening and closing number of shares.
Section 7 'Statement of Cash Flows'_ Presentation of a statement of cash flow and related notes and disclosures.
Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instrument Issues'_ Carrying amounts. interest
income/expense and net gains/105ses for each category of financial instrument. basi5 of determining fair values; details
of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognized in profit or Ios5 and in
other comprehensive income.
Section 26 '5hare based Payment. _ Share-based payment expense charEed to profit or loss. reconciliation of opening
and closin8 number and weighted average exercise price of share option5. how the fair value of options grarbted was
measured. rneasurement and carryin8 amount of liabilities for ca5h-settled share-based payments. explanation of
modifications to arrangement5.
Section 33 'Related Party Disclosures,
Compensation for key management personnel.
Going Concern
The financial statements have been prepared on a going concern basis.
The Trustees continue to be confident that both the Charity. operating in its own right and its trading subsidiaries will
achieve their forecasts for the next twelve months. The Trustees are also aware of their continued dependence on the
grants and contracts issued from the Public Sector and continue to seek other forms of income by maximising their
resources and infrastructure.
A meeting has taken place between Avocet Trust and Hull City Council to review the funding currently received from Hull
City Council. Hull City Council are attempting to reduce the amounts paid to Avocet Trust for the care of client5. Whilst
this would have a negative impact on Avocet Trust the Trustees believe that the Charity can continue to operate.
17

Avocet Trust
Notes to the Flnancial Statements - continued
for the Year Ended 31 March 2024
Basis of Con501idation
In the parent company Avocet Trust. the cost of a business combination is the fair value at the acquisition date of the assets
given. equity instruments issued, and liabilities incurred or assumed, plus costs directly attributable to the business
combination. The excess of the cost of a business combination over the fair value of the identifiable assets. liabilities and
contingent liabilities acquired is recognized as goodwill. The cost of the combination includes the estimatecl amount of
contingent consideration that is probable and can be measured reliably and is adjusted for changes in contingent
consideration 3fter the acquisition date. Provisional fair values recognized for business cornbinations in previous periods are
djusted Tetrospectively for final fair values determined in the 12 months following the acquisition date. Investments in
subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Kingfisher Housing (Hull) Limited has been included in the group financial statements Using the purchase method of
accounting. Accordingly, the group statemen of financial activities and statement of cash flows include the results and cash
flows of Kingfisher Housing (Hull) Limited for the 12-month period frorn its acquisition. The purchase consideration has been
allocated to the assets and liabilities on the basis of fair value at the date of acquisition.
Entities other than subsidiary undertakin85 or joint ventures, in which the group has a participating interest and over whose
operatinE and financial policies the group exercises 3 significant influence, are treated as associates. In the group financial
statements. associates are accounted for usin8 the equity method.
Entities in which the group holds an interest, and which are jointly controlled by Ihe group and one or more other venturers
under a contractual arrangement are treated as joint ventures. In the group Avocet Trust. joint ventures are accounted for
using the equity method.
Incorning resources
Income is recognised when Avocet Trust is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably. and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Avocet Trust has been
notified of the donation unless performance conditions reqtjire deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recoEnised at the time of
the donation.
Legacies are reco8nised on receipt or otherwise if Avocet Trust has been notified of an impending distribution,
the amount 15 known, and receipt is expected. Ifthe amount is not known. the legacy is treated as a contingent
asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and services provided in the normal course of business. net of discount5, VAT. and other
sales related taxes.
Resources
Expenditure is accounted fol on an accruals basis and has been classified under heading5 that a8gregate all cost related to
the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a
basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the yearend
date are noted as a commitment but not accrued as expenditure.
18

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
Govefnan¢e costs
Governance costs are those costs which have been identified as constitutional and statutory requirements, as opposed to
generating funds. service delivery, and programmes of project work. Gover nance costs include legal advice and audit of
the statutory accounts.
Tanglble fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it5 estimated useful life.
Fixtures and fittings
Motor vehicles
-25% on reducing balance. 20Yo on cost
-25% on cost
Impairment of fixed assets
At each reporting end date. Avocet Trust reviews the carrying amounts of its tangible assets to determine whether there is
any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of
the asset is estimated in order to determine the extent of the impairment loss lif anvl.
IntanBible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment
annually. and whenever there is an indication that the asset may be impaired.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, dep05it5 held at call with banks. other short-term liquid investments with
original maturities of three months or less. and bank overdraft5. Bank overdrafts are shown within borrowings in current
liabilitie5.
Financial in5trurnÈnts
The Avocet Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues. of FRS 102 to all of its financial instruments
Financial instruments are recognised in Avocet Trust's balance sheet when Avocet Trust becomes party to the contractual
PfOV15ions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally
enfofceable right to set off the recognised amounts and there is an intention to settle on a net basis or to reali5e the asset
and settle the liability simultaneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price
including transaction c05t5 and are subsequently carried at amorti5ed cost using the effective interest method unle55 the
arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future
receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of intpresr. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they
are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently
measured at amortised cost using the effective interest method.
19

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
Derecognition of financial liabllities
Financial liabilities are derecogni5ed when Avocet Trust'5 contractual obligations expire or are discharged or cancelled.
Employee benefits
The c05t of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when Avocet Trust is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market
value is transferred to a revaluation reserve.
Taxation
The charity 15 exempt from corpoTation tax on its charitable activities.
Fund accountlng
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity- Restrictions arise when
specified by the donor or when funds are raised for particular restricted purposes.
Funher explanation of the nature and purpose of each fund Is included in the notes to the financial statements.
Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of
ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and
the present V31ue of the minimum lease payments. The related liability is included in the balance sheet as a finance le3se
obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net
incomellexpenditurel for the year so as to produce a constant periodic rate of interest on the remaining balance of the
Deferred grant
Included in creditor5 is a provision for deferred income in respect of a grant received from SEIF. The deferral is being
amortised at a rate which matches the depreciation of the assets purchased with the grant.
INVESTMENT INCOME
2024
2023
Interest Yeceivable - trading
20

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
INCOMING RESOURCES FROM CHARITABLE ACTIVITES
2024
2023
Activity
General
General
General
General
DSS Income
Residents Income
Respite & Sessional Income
Sundry Income
6,599,745
159,098
310,705
5,382,206
161.892
238,718
7 120 396
5 849 839
FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS
2024
2023
Purchases
CHARITABLE ACIVITIES COSTS
Grant fundin8
Direct costs of activities
Totals
General
7.032.101
7,032.101
GOVERNANCE COSTS
2024
2023
Accountancy
Legal fees
Auditors. remuneration
11,690
111,567
8,400
9,598
27,043
7,200
128.367
42,841
21

Avocet Trust
Notes to the Financlal Statements- contlnued
for the Year Ended 31 March 2024
NEf INCOMING/{OUTGOING) RESOURCES
Net resources are stated after chargingllcreditingl:
2024
2023
Auditors, remunefation
Depreciation- owned assets
Hire of plant and machinery
IProfitl/Deficit on disposal of fixed asset
8.400
45,732
10,732
102,828
7.200
44,185
19,202
21.069
TRUSTEES, REMUNERATION AND BENEFITS
There were no Trustees. remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31
March 2024.
Trustees, expenses
There were no Trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2024.
STAFF COSTS
2024
2023
Wages and 5alarie5
5 752 036
5 067 984
5 752 036
5 067 984
The average monthly number of employees during the year was as follows=
2024
2023
Residential care
Administration
266
li
277
267
12
279
One member of staff was paid in excess £60,000, in the following bands:
2024
2023
£70,000-£80,000
22

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
io.
TANGIBLE FIXED ASSETS - Charitv
Freehold Fixture5 and
Property
fittings
Motor
vehicles Computers
Totals
COST
At l April 2023
Additions
Disposals
Revaluation
4,813.710
249.807
4.827
112,668
19,108
21,420
5,195.293
26,247
1458,7101
252,600
1458,7101
252,600
At 31 March 2024
4,607.600
254.634
112.668
40,528
5,015,430
DEPRECIATION
At l April 2023
Charge for year
Eliminated on disposal
Revaluation
105,099
32,960
100, 174
5,106
18,229
7,666
223,502
45.732
At 31 March 2024
138,059
105,280
25,895
269,234
BOOK VALUE
At 31 Marth 2023
4.607.600
116,575
7.388
14,633
4,746.196
At 31 March 2024
4.813.710
144,708
12,494
879
4.971,791
ii.
TANGIBLE FIXED ASs￿S- Group
Freehold Fixtures and
Property
fittings
Motor
vehicles Computers
Totals
COST
At l April 2023
Additions
Disposals
Revaluation
4.183.710
249,807
4.827
112,668
19,108
21,420
5.195,293
26.247
1458,7101
252,600
1458,7101
252.6iJo
At 31 March 2024
4 607 600
254 634
112 668
5 015 430
DEPRECIATION
At l April 2023
Charge for year
Eliminated on disposal
Revaluation
105.099
32.960
100,174
5.106
18,229
7,666
223,502
45,732
At 31 March 2024
138 059
IOS 280
269 234
NET BOOK VALUE
At 31 March 2024
4,607,600
116,575
7.388
14.633
4.746.196
At 31 March 2023
4,813,710
144,708
12.494
879
4,971,791
23

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
Included in cost of land aTTrd buildings is freehold land of £194.000.
Land and buildings with a carrying value of £4.607,600 were revalued on 24 February 2023 by Lamber Smith Hampton
Chartered Surveyors and on 23 May by Eddisons Chartered Surveyors both independentvaluers nor connetted with the
charity on the basis of market value. The valuation conforms to international valuation standards and was based on
recent market transactions of similar properties.
12.
FIXED ASSET INVESTMENTS
Shares in
group
undertakings
MARKET VALUE
At l April 2023 and 31 March 2024
li
NET BOOK VALUE
At 31 March 2024
li
At 31 March 2023
li
There were no investment assets Outside the UK.
The company's investment5 at the balance sheet date in the share capital of companies include the following-
Kingfisher Housin8 (Hull) Ltd - 10 shares of £1
Brian Crosher Training Ltd - dormant- I share of £1
Nature of business: Property management
Class of share:
Ordinary
holding
100
2024
2023
Aggregate capital and reserve5
Profit/lloss) for the year
167,262
144,7501
212,012
208,014
Investments. which represent shares held in the subsidiary company, are stated at cost.
INVESTMENT PROPERTY
13.
Total
Cosr OR VALUATION
At l April 2023
Dispcsals
Revaluations
1,779.000
1134,0001
At 31 March 2024
1645 000
NET BOOK VALUE
At 31 March 2024
1,645,000
At 31 March 2023
1,779,000
24

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
14.
INVESTMENT PROPERTY- continued
Included in cost or valuation of investment property is freehold land of £462.988 {2023: £500,703)
which is not depreciated.
Cost or valuation at 31 March 2024 is represented bv..
Fair value
Additions
Disposals
Revaluation
1,779,000
1134,0001
1,645,000
2024
2023
Cost
1.454.154
1,569,154
Aggregate depreciation
The fair value of the investment property has been arrived at on the basis of a valuation carried out on 30 May 2023 by
Eddi50ns Chartered Surveyors, who are not tonnerted with the charity on behalf of the charity bankers. The valuation
was Made on an open market basis by reference to market evidence of the transaction prices of similar properties.
15.
DEBTORS
Group
Companv
2024
2023
2024
2023
Amount falling due within one year:
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments
S32.643
581,837
532,643
852.359
1,104
65,579
581,837
924.107
2.933
62,463
11.2151
65,579
2,933
62,463
597.007
647,233
1,451,685
1.571,340
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Companv
2024
2023
2024
2023
Bank loans and overdrafts
Trade creditors
Social security and other taxe5
Accruals and deferred income
110,274
137.648
293.609
482 854
1,024,385
250,671
154,681
44,404
504 535
954.291
72.398
137.648
293,609
482 854
986,509
212,796
154.681
44.404
504 535
916,416
25

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
17.
CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
Group
Company
2024
2023
2024
2023
Bank loans
1,940.544
2,300.062
1.354.502
1,695,066
1940 544
2 300 062
1354 502
1695 066
18.
LOANS
An analysis of the maturity of loan5 is given below:
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
Bank loans
110.274
129,994
72.398
212,796
Amounts falling due:
Bank loans - 1-2 years
Bank loans- 2-5 years
Bank loans after 5 year5
110,274
220.554
1,609,722
129.994
259,988
1,910.080
72,398
144.796
1,137,308
212,796
425,592
1.056.678
1,940.544
2,300,062
1.354.502
1,695,066
19.
SECURED DEBTS
The following secured debts are included within creditor5:
Group
Company
2024
2023
2024
2023
Bank loans
2,020,818
2,430,056
1,426,900
1,907,862
The Co-operative Bank and Unity Trust Bank hold a legal charge over the property of Avocet Trust and Kingfisher
Housing Limited
The bank also holds a specific charge over the book of debts of the company.
26

Avocet Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
20.
MOVEMENT IN FUNDS
Net movement
At 114123
in funds
At 3113124
Unrestrirted funds
General fund
4,153,540
143,7381
4.109,802
TOTAL FUNDS
4,153.540
{43,7381
4,109,802
Net movement in funds, included in the above are as follows..
Incoming Resources
resources
expended
Net gains/1055
Movement in
funds
Unrestrlrted funds
General fund
7 068 396
7 171094
21.
CONTINGENT LIABILITIES
In addition to the security over the assets of the company described above. the Co-operative Bank plc also holds a first
legal charge over the asset5 Of Avocet's subsidiary company Kingf15her Housing (Hull) Limited.
22.
RELATED PARTY DISCLOSURES
Kingf15her Housing (Hull) Limited l-Kingfisherf'l is a wholly owned 5ub5idiary of Avocet Trust. Kingfisher purchased
Several houses from Avocet Trust in a previous year and Avocet Trust made a loan to Kingf15her for that purpose. The
loan is subject to an agreement setting out repayment terms. In addition, Avocet Trust has made an informal103n by
way of inter-company balance in respect of Kingfisherfs start-up costs. Avocet Trust pay rent for the use of propertie5
owned by Kin8fisher.
Transactions between Kingfisher and Avocet Trust are as follows:
2024
2023
Rents paid
Grants paid
Loan Interest received
Management charge
52,000
80,300
20,185
20,185
74.000
The above transactions were at market value.
At 31 March 2024 Kingfisher owed Avocet Trust £852,35912023: £924.1071
During the year the charity made payments for professional services to the following trustees:
Mr I Spibey-Atom HR Consultancy
£42,487 {2023 £37.6751
HR Services
Mr A Tearle
£2.750 {2023 £3,345)
Training services
27