REGISTERED CUMPAYL Y NUMBER: 02647131 (FJngland 2nd Wales) REC.ISTERED CHARJTY NUMBER: 1005302 REPORT OF THE TRUSTEES AND FINANCIAI..gTATF.MFNTS FOR THE YEAR ENDED 31ST MARCII 2024 'OR NEW DIRECTION.q (RUGBY) LIMITED Atkinson Finch & Co Chartered Acco(Intants Central Chainbers 4547 Albert Street Rugby W<irwickshire (."V212SCJ
NEW DIRECTIONS OiUGBY) LIMITED CONTENTS OF THE FINANCIAL STATEMENL TS FOR THE YFAR ENDF,D 31ST MARCH 2024 Page Reprjrt of the Trustces Report of the Independcnt Auditors StAtcment of Financial Aetlvltles 12 Balance Sheet 13 Cash Flow Statement 14 Note$ to the Cash Flow SIAtemenl 15 Notes lo the Financial St8lement$ 16 10 25
NEW DIRLCTIONS (RUGBY) LILMITED (REGlS'fLRED NUMBER: 02647131) REPORT ()F THE TRUS'I'EES FOR THE YEAR ENDED 31ST JMARCH 2024 The trtistces who arc also directors of thc cliariry for the PUTptsses of the Companies Act 2006, prcscnt their report with rhe linancial statenienls of the charity for the year ended 31 st Mai'ch 2024. The trnstees have adopted the provisions of Accounting and Reporting by Cl)Arilies'. Statement t)f Recommended Practice applicable lo charities preparing their 2ccoiinLs in accordc2nce with tlie Financial Reporting Standard applicable in tlie UK and Republic of Ireland (FRS 102) (eff¢Ltiv¢ l January 2019). Ncw Directions {Rugby) Liinitcd (New DireLtions} providcs liou%ing and support to lI)erable people, incliiding adults witli learning disabilities. Tli¢ Cl)2rity provid¢s residcntial and respit¢ support in Ihc Charity's own bespokc hom¢s, support to people livin¥ in their oivn homes und also ihrough day opportunities and sessional services. OILIECTtIT.S AND ACTtVlTIES ()bjectives 4?nd aims Tlie Cliarily'.q objectives clre sel oiil in th¢ Articles of Association biit hav¢ been siininiarised for the benefit of the Inspeclii)n Service under Il)e Care 8iandard.8 Act and the F.ssential 8tandard£ of Quality and Safety, as follows-. l. The provision and facilitation of hoiising, social hoiising, supportcd lioiising and specialised supported housing lo vulnerable members of society; 2. The provigion of rcsidenli81 and day care fa¢ilities for viilnerable and leaming disic bled people. either on a long-lenn basis ur on a sliort-temi basis, and lo provide respite for those who are nonnally cared for by their families, carers or uardi41ns.' -1. Th¢ provision of trdnsition ski115 traiiiinlaCIIitLcs for vulnerable and learning disabled peoplc to enable them to legrn how 10 live in Ilieir own hoines now and in the funire: 4. The provision of facilities, in the interests of social welfare, for educlltion, volunteeriTrg, elp10yrnenI and for the r¢creAlion of such pcrsons and genernlly such faciliti¢s and s¢rvicLs as shall be cal¢ulatcd to 8lleviate iheir nceds. Our Mission And Vi.4inn is.. To make a posilive differenLL to the lives of vulnerable people. including thosc with IL'iirninb disÈibilities, by proinoling their rigl)ls. independence, choic¢s. inclusion and by providing support and opportuiiities for thein 10 lead fulfilling lives. To providc & ran¥c of qualiiy acLominodation, as well as SUPPL)rt ul home unit supported livin¥ support, and scrvices lo pLople willi learning, di.5abilitie.s and tl)eir familieslcarers lo promote their self-respe¢t, individuality, dignity and to eiisure Il)Cy Ilre safe Lind ablc lo aLI?i¢'v¢ ilieir goals ¢ind wishL's. Wc Ilelieve: vcryonc is equal and should118ve the saine chance% and choices in life People will) Icarning disabilitie.q should be li.stened to and qupported to make choices that are right for them That the views of families, friends, carcrs and slaft'are very important and should be heard People shoLild bc supported anil encouragcd lo be as independent as their potcntial allows Tliat we should always strive to improve our services and adapt Il)em lo the changing needs of the people wc support wl)ilst eiisuring value for money services We Ivill do that: By putting tlie intcrcsts of vulncrablc people. including tliose with Icaming disabilities, and their families at the heart of everything we do. listening to their wishes. hopes and aspirations ot'their futures. By adopting a person centred approach, promoting individual choice, independence and by valuing and treating everyone with dignity and respect. Page I
NEW DIRECTIONS (RUGBY) LIMITED (REGISTERED NUMBER: 02647J311 REPORT OF TFIE TRUSTEF.S FOR'fHE YEAR ENDED 31ST MARCH 2024 By providing high quality accommodation and support through a range of residential, supported living, short staylrespite, honie care option5, day. leisure, social activities and support towards volunteering or ¢mployinent opportunities. By ensuringy our st42ff are well supported. trained, liibihly inorivated, able to deliver tlie Iiigliest quality individually lailor¢d support services to eacl) pcrsoi) wc are responsiblc lor. By strivillg to improve scrviLes, to coniinually raise lo¢al gwareness, proinoting the positive contribLltion and potential of people with a learning disabilily within thcir c4)mmunity. New Direciions is commilled lo enhance tile rights. iDd¢p¢nd¢i)¢¢. ¢hoicc and inclusion of people with disabilities and lo provide opportunities for Ihein lo lead full and puJy()seful lives and to be involved in tlie coininunity they live in. Public benefit The Charity cxisls to support vulncrable p¢oplc, inLludin¥ Ihos¥ with l¥an)in¥ disubililiLs. Ilicir faii)ilies and ¢ai'crs,' Ilieir choices and wishes are ai Ihe vcry lieic rt of cverytliiiig we do, tl)rough our person Lenlied 4crviLe%. Our links with faniilies, fri¥nds and carcrs are very iinponani lo tli¢ Cl)arity and wc aiin lo maintain dies¢ and offer support as far as we are able. Thc Charity regularly reviews Ilie ways in wliich il enga8CS Wltl) pcoplc who us¢ tli¢ scrviLes, fainilies, friLnds and carers. Cutreni engageinent inetliods include newsletters, nalIs, social Inedia and Ineelings with individuals. In setting the Charity's objeclives and stralegics we have siven due consideralion to the Cl?arity Coittinission'.% guidance on public benefit. The Charity CUeilY supports over 130 people with a disability and eiiiploys over 170 people froin Rugby and tlie surrounding areas. We also work with local schools, colleges and businesses to improvc their undcrstunding of disability issues, facilitate opportunities for joint partnership working and more inclusion for people with disabilities, both in the cominiii)ity and within social i)ctworks. W¢ work in partnersliip with local group% ai)d cliarilieb 10 shiirc our rCSou¢S wherever we can including offcrin&' room hirc within our buildings at atlord1£ ble rdtes. AC.IIIEVEMFJiYT AND PERFORMANCE Charit#ble actlviiles The Clidrity continu¢s lo ns01]date its fingmcial reserves endbling il lo invest in innovative new developments ai)d services to Ineel the needs of its exisling and future Customers. Poppy Plac¢ and Vicarage Road remain our two resid¢ntial hoi))es for the niajority of 202314 suppoiting a ioral of 12 peopl¢ with disabilities duringy the year witli Poppy Plucc aLhicvin& full OLCUP(Incy by thL Lnd of tli¢ financial year. January 2024 wc successfully opencd Daisy CoLIrt, our newly built 10 bed care homc wliicl) replaced ViGura8e Rodd, to ensure a fully acces5iblc carc hoine for Ihobc IVC SUPPOrt. MilnLr House, our residLnlial respil¢ service l)as seen a great ii)crease in Ilic i)uinber of refcrrals, especially from tlie Transitions Team of WJnYickshire County Council with occupancy rates hitting all-lime high of 910/0. WL Lontii)ue to work with our fundcrs to Ineet tl)e increasing l¢vel of d¢mc1nd, identifying new people to support and to niaximisc tlie inconie of the propety ta ensure that wc can sccure the long-iern) for the service as il is so vitsl for so niany faniilics across Rugby and Warwickshir¢. Coiminunity Choices Network ICCNI oiir day npporninities facility at The Exchange has also recovered well froiii tlie longycr_lemi effects of the pandemic with attendance levcls returning lo near capacity. Richmond Court, Gateway Court, Kings Court, Lennon Court and Qlieens CoLIrt continiie to offer 5UPPOrted hoii8ii)&. for up to 75 pe()ple living iii thcir own flÉ11s, cnablinb Iliem lo live as independently as possible. ot])er individual 15 supportcd wiihin their own home in Rugby. Training compliance leve15 reaclicd above 950/0 across the org2c nisalion and staff surveys carried out in May 2023 demonsiraled a l O /0 increase in staff feeling valucd. Page 2
NFW DIRECTIONI S (RUGBY) LIMITED (REGISTERED NUMBER: 02647131) RF.PORT or THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 We liave rcceived a number of donations during the year including several from the families of the people we support and our thanks go to these tamilies. One local family very generously donated a new accessible bath which has been installed at Milncr House to replace an ob.qolete ni()del, We £llso r¢ceived donations froin local cl?arities and businesges. The Inner Wheel of Rugby donated a fiirther £3.700 havinbs donatcd £2,300 in tlie previous financicll year and 'lforce' donated £ 1.000 tOWl£ rds the installatioi) of Ilie new baili at Milner HoLlSe. We received generous donations froin Sir Edw2rd Boughton Long Lawford Cliarity, and re¢cived funds r8ised by the Gateway CILib which was dissolved duringy the year an<1 also froin 'Pai?tomaniic cg, who resolved that each year funds raised from their seasonal Panlo pei'foiinanc¢s would be donated lo New Directions Rugby. QIiAlity Assessment.$ nnd Achievements .creo1nIlss10n AssessinLnt AII OLII. Iiomes and Se1ceS have received a "Good" rating, under the new assessment resime, with very positive iiispection rLpons willi no aLlions to follow up. Disabilily conf1dl Einployor New Directions iiiaintains ils slams a.8 a Disability Confident Einployer: this is the successor lo 'Positive about Disability, FeedbAck And Involvement by the People we Support CusliTrinLr dll(l .St?c k¥lioldLr Sdlisf4.¢liory Fe¢db1} Lk The views of everyone involvcd willi Ilie Cliarily are very iiiiportant lo us. Wc obtain regular feedbaLk through user-friendly queslionndires and dl%0 through gr()up Ineetings. These enable L'Ll8toiners and stakeholders to tell us what ve Ilo well and whot they would like ti% io LhangJL. Our eleLtrunic feedbaLk fonns enabled even Inore pLople to give fcc(Ibftck il)is year iviih Iiigher levels of %atisfaLlioi) being exprLssed aiid 96.8% of 115 respondents. caiegorising our serviLe delivLry as eitl)er '(iood' or 'Very CiooII' giving detailed feedback ellch being able to submit it anonymously sl)ould they cl)L)osc to. Ibcrson Ccnlre_d_Plan.s Lveryonc wc support has a person centrcd plan. which involveq placing the individual at the centre of the plan. their fainily and friend4 and suppoit staff. Thc.%c plans l& re reviewed aniiul£ Ily and arc a kcy part of our orgiinisalional pliilosophy. We look £lt what 15 impot1ant lo th¢ indivi(fiial and how ihey can be .supportcd to achieve their needs and desires. Voice.8 and Chl_S an.d_Tenants mtsÉtings The pc()ple wc %upport mccl on ¢1 rcgiilar busis, siipportcd by invited staff members, in a Voiccq IL nd Choiceq mecting. 'rcnants' are also invited to qLiarterly meetings to discuss thcir Iiomes 1£ nd where Ihcy live. le people we Support havc the oppo]nity to niake siiggestions and to tell us aboiil their ideas al Ilicsc Ineetings. Thesc groups conliniie to be involved in shaping tt]re serviceg and lo play an active part in gtsvernance. l)eveloping our Commur)ications WL contiiiuc t() pmduce regiil<ir communications, whi¢l) are fonncitted in an 21 ccessible, e<lSy to read and understsndcible Inrmal. Tlii5 ncwglettcr higlilight% Ihc Iichievemcnts aiid cidventures of oiir ¢uslomers staff along with fLiliirc devclopnients. We also %end out email news updates, and infonnalion ihroiigh our facebook, Twitter, Linkedln and Instagrain social media pau¢8 and throiigh iipdalcs on our website. Tlie 'Siar of the Month" award which recogni7es the h1£ rd work and commitm¢nt of individi1 staff Membe continues lo be well received and Vc21ued aloiigside the Tenmwork and CEO'S Oulslanding Coniribution awards to rccognise our staff in greatei. niimbcrs for their contributions. Page 3
NEW DIREcfioNS IRUGBY) LIMITED (REGISTERED NUMBER: 02647131) REPORT or THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 ACHIEVEMEiYf AND PERFORMANCE D¢vcloping our Staff New Dii'ections is committed to and invests in a coniprehensive staff training and development prograiniiie for all its staff team, so they are knowlcdgeable, skilled. continually updated and to cnsure they can offer the highest quality of services to people with learning disabilities. The improvementq put in place and felt over the last year in leniis of lean)ing and development has seen near l 00 /0 complianLe in trdining dchi¢vLd across the organisalion and satisfaction and feedback from staff on their development rise accordingly The Board would like lo thank all the staff and volunteers for their hard work and dedication over Ilie last year. Fllture Developments During 2022-25 our strat¢gic objectives are: To estsblish a purpose-built modern residential c(1re home within Rugby during 2023 5c> that we can meet our cnmmitment tts those we ciirrently support and develop fully wheelehair aceessiblc liviiig optinns. Continue to niaintain and increasc our occiipancy lcvcls within rcsidcnlial, respit¢ and supported living serviceq, actively working with con)missi()ners, social workers gnd fi( Inilieq io fill vacancies acm5% IhL organi%alion wiil)in the shortest liniescales possible. To Inainloin fvll cost recovery whcn Icndcring for all ncw or existing work in order thai the organi.sation remain5 secure and pay rates for staff can rci))ain eompetilive. We are coinmitled in working witl) Warwicksliire County Council lo inforni tlie Government's Fair C05t of Care exei'cise. To It)aintain cach of our ¢xis1ing'good' ralin¥s fri)In our rc¥ulali)r,' Ihc Carc Quality Coinmission und actively aspire lo aLhieve outstanding7 fdtingjs for ull of our services. To coniinue to invL'sl in Chc rccruilincnl, reieniion and devLlopmLnl of our Lxisling and ncw 5t1iffineinb¢rs wlio arc csscntial in delivcrin&i Laring> F coinpassionatc and l)igh-quality p¢rson-Lenlred support- ac(ively celebrating the diversity and dedication of our work(orce. Work in partnership with commisgioncrs alongside otl)er providers to lielp shape and deliver niore flexible and personalised Inodels of sUPPOrt that give greater LhoiLe and conlToI to Ihe individuals we support. Having Lstablished a Learning and DLvclopmcnl Mdnagcr role wiiliin the or¥anisalion we are now delivering oui. staff induction. development training prog?ratnmes Inore flexibly within the organisation to better iiieet t]ie needs of our own staff and will conlinue lo work towards developing and delivering training in.lious¢ and in partnersliip with others. mo.st iinportantly we will continue to thdnk, reward and develop all L)I'our staff d¢l'OSS Ihc organisotion who have worked lirelcssly through an incredibly difficult year. The Board is happy to report that the Charity is progressing well against all strategic objectives set. A realistic timelin¢ and largels for filling voids h¢ld wiihin supported living has been s¢1 for 202415. FINANCIAL REVIEW Review of past financlal year The Charity has Iiad another successful year and conlinucs lo build its reservcs lo ensure the future security for tliose people it supports. 2023124 saw Daisy Coun, our latest residential 10 bed care hotne development, officially opened by the Mayor of Rugby on the 5th March 2024. Daisy Court helps 5afcguard thc ability of the chaTity to continue to support aiid provide accessible accominodalion for aq long as anyone we support nceds it. Pa¥c 4
,YEW DIRLCTIONS (RUGB LIMITED (REGISTERED NUMBER: 02647131) RF,POR T OF THf, 'I'RUS"fLi L.S FOR THE VEAR ENDED 31ST MARCH 2024 Dunng a highly aspirational year with much energy and liine focused upon the build, registration and opening of Daisy Coiirt, il was particularly pleasing to sce that our respite service Milner House and our t)ay opporwnities service each significantly increased their occupancy and atlendance levels. Tl7rough d lender procL"ss held diiring the Spring of 2023, we secured oiir place on the framework jointly operated by Warwicksl)ire County Council and the Integirated Commig%i()ninb. Board {ICB). Tlii5 in turn enabled new fee rates to be pul in place from Isl Aiigusl 202.3 enabling Ilie Charily to fulfil ils strategic objective of ensuring A 11 cost recovery approacli to all contracting arrangements. Tile investnient in growth seen in recent year.s means Iliat we are in a strong financial position going fonvard and die budgLls for 2025 indicate that dll servic¢s will Inake a positivc financial conlribiilion to the Charily. Managers are reqiiired to report directly to tl)e Board on their service and are lield to account if budgets are not maintained. Tlie Board, CEO and Inanagement team re¢ognise th2t while 202314 has been a very busy and challenging year. the hard work uiidertaken across the orgaiii%alioii l)as laid the foundulions needed to continue to thivc forward the high quality bupport and aLcominodalion provided. All arc cDininitted (o keeping the njnning cos(s of ilie Cl)arily as low as possible. Ivhilsi maintaining our higli quality. responsive services. Goiiig Concern bnsl.s 'riiL Nulii)iial Liviiig Wuge increused again during tlic year, which places a significant burden on the social care sector at a liine wlien cost of living ri.qes and intlalion rates plaLe additii)nal pressures on those working in the sector. fund¢rq alOunCed a l 0% funding increa.sc for the year of 202314, yet wilh careful planning the Board of Tru%lees w& able l() put in place Mil I I n/ts increase for oiir frontline sL2ff in recognition of the cost of living crisis. Th¢ Charity has acl)ieved plai?ncd growili in the last few years and Il)e Tru%lee8 arL confident tl)e Charity will ¢ontinue lo opcralc as a going concern for the foreseeablc future. RL's¢rves pollcy Tl)Lh tru$iee5 of New Direction5 believe that Llic Cl)arity sl)ould liold financial reserves because.. l. It ha.s no endowment funding and is dependent for income upon fccs rcccived froin the local governtnenl. Under present cirLuill8tance.4 tl)is Inay bc cxpeLted to r¢duc¢ significantly and/or al.Il)ort ni)tiee 2. It I'equires protection again.st and the ability to continue operating despite any unfores¢¢n events or t¢mporary .slionfalls .3. It is necessary to provide tunds which can be designated lo spccific project% in line with our strategie obj¢elives 4. To ¢over administration, ndraiSing and support CO8ts' without wliich the Charity could not function. Tl)e tnistees consider it prudenl Ilial free reserves, defined as nel eurrenl assets less amounts that are de.iignated or re.4triclc(I for a specific piirpnse, should be %iifficient to cover 3-6 mnntli.s' administrc11ion, thndri¢ ising and support costs, nnd to provide a pool frorn which funds can be designat¢d. 'rhe t)V41ees also Consider il pnidenl lo ensiirc that it retains sufficient cash to cover 3 Inonihs, ¢<ishflow. The reqiiired level of free reserves and cash held, ftlong with Il)e p0511ion at the end of each quarter, 15 reported io the tiiistees al each bocird mccling. Tlie reserves policy is reviewed by ihe trustees every three years. STRUCTURE, GOVERNANCE AND MANAGF.MENT CJDvernln% document l-1)e conipciny is a charitable company lirnited by guarantee originally incorporated on 19 Sepicmber 1991. Mcmorandiim <1nd Article.q of As£oci£ltion governq the Charity. It is independent from all other orgilllis?c tions and public boilies. Page 5
NEW DIRECTIONS IRUGBY) LIMITED (REGISTERED NUMBER: 02647131) REPORI. OF THE TRL:S'I'EES FOR THE YEAR ENDED 31ST MARCEI 2024 STRUCTURk, CJOVERNANCE AND MANAGEMENT Organisational structure The Charity is governcd by a Board of Trustces {Directors), supported by a Tnanagcment tca]n led by a Chicf Exccutive. The manageinent ten ¢onsists of 3 Finance Manager, a Human Resources Manager. Operations Managers. Registered Managers, Deputy Munagers, F¢icilities M¢¥nd¥er, Training Manager and Ol¢e Manager. Tlie Cliief Executive is respollsible for the day to day rnnning of the Charity and 1% appoinlcd d% ihe Rcsp()n%ible Individual as required by the Care Staiidards Act and tlie Essential Staiidards ol. Quality aiid Safety. The Chicf Executive, Finance Mai)ager. Human Resources Manager and Operations Managers report directly to the Board of Twstees. Board of Truste¢s The Board of Trustees presently ¢onsists of ten Ineinbers and nieets a miniinuin ol. four tii))e8 per aniiuin. Tlie Indxiinum number of Truslees is twelve und shall be not less il)Lm live. The powers i)f Ihe Boai'd are defin¢d in Ilie Aili¢l¢s ot Association dated 7th January 2014. The Jjoard is tndde up of members who have a rdngye of experiei)ce iii dreas 4uch as sp¢¢ial Iiceds education, finan¢e. psychology, busiiiess developineiit, housiiig and local autliority. legal niattcri aiid family Incmbers of the people we suppon. who can giv¢ an insight into livingi with people with 1¢£1ming disabiliti¢s. Th¢ board menibers provide complimenldry skill%, cxpcrience and knDwlcdge ciisiiring an objective view in ¢1ny mai)ugemei)I discussion. The Board has two sub-groups being Finance and Dcv¢lopnienl aiid Quality Assurance and Policy,. both i))ade up of Trustees and are 5UPPOrted by the manageinent leani. -l-he Sub-CJfDLIP8 have dLlegatcd powers and agrecd Terms of Rcf¢r¢ncc and rcpDrt to the Full Board of Tnistees. FollowinbF a Governance review held in October 202.3, eli cl) tnislee is also alloealed la the developmcnl ol ()ne of the following 8 areiis of g(x)d b?overnance as d¢fined by NCVO. Foundation principle, Organisational PUTpose, Leadership, Integrity, fjeeision Inakiiig, I'isk and Control, Floard effectiveness, Equality. diversity lind inclusion and Open & aLcountdble. Regulation, Compliance and FuJ]ders As a providcr of supported living, respite. supported hoLising and residential care services the Charity is subject to rcgul&tions sel out by IhL' Carc Qiiulily Coininis8i0i1. Tli¥ Cliai'ily is siibjecl to plann¢d and unpl¢1nned iiispL'clians lo ensure that all regulation% are complicd with, 'fiic (."Iiicf r.xc¢ulivc rcport% Ilie lindings of ftll inspLciion reports In tlic Board and any action takeii or needed. In LoniplyiiigF wilh Ilie r.ssenlial Siandilrds of Quality and Safely froin Ilie Cait QiiAlity Commission, the Trugtces urc i)f Ilic npiiiinn tlial dll ri.sks rLlatingJ Ii) the activities nf tlic Charity hdve been identifiLd and robusl syslenis aiid proccdur¢s urc in pla¢¥ lu IndnLl¥¢ Ihosl risks. Thc Charity works Llosely wilh Ihe Local Auihoriiy. W<lrwickshire County Council and the N<ltional I lealtl) Service in IhL fom of thc Inicgraied Care Bvard (ICB}. Musl LUsion)¢rs kJr¢ finJncLd by fL¢s puid by cithLr Wdrwi¥ksl)irL County Council or the ICB. The Cliarily has dcycloped good workinby relationships with WarwiLksliire County Couiicil aiiil Il)e ICB and has develop¢d innovative servi¢es and accoininodatioii in line willi the needs of the people it supports and comtnissioning intentions. Soine ¢usloiners also pay out of their own persoiial budgets. The Chief Executive is responsible for ensurin&i that all IhL fiiiancial controls are in placL'. The Financc Manager carriL5 out the day-to-day funclions and is responsible to the Chiel'Executive. Major financial decisions are madc by the Eloard of Trustees. The Board has confinned its coinpliance witli the (iood Cjovemance Code of Practice as recommended by the Charity Coininission. This includes internal controls, financial, gov¢rnancc and risk Inanagcm¢nt, whisile-blowin&F, equality und diversity, performance appraisal, clarity of roles aiid measures 10 avoid personal benefit or conflicts of intercst. Risk management The Trustees have a duty to identify and review the risks to wl)ich thc Cl)arity is exposed and to ensure appn)priate controls are in plac¢ lo provide reasonable assurance against fraud and eOr. The Cliariry has a risk strategy in place along witli a detail¢d risk register cnsuring that tlie risks are identified, assessed and Inanaged. Significant risks to tlic charity are reviewed by thc Trustecs at cvcry Board mceting. Pagc 6
NEW DIRECTIONS (RUGBY) LI.MITED (REGISTERED NUMBF.R: 02647131) REPORT OF THF, TRUSTF.F.S FOR'fHE YEAR ENDED 318T MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Coinpany number 02647131 {England and Wales) Re&Jistcred Charity niimber 1005302 Registered office Riclllnond Lodge 27 Elilii)n Road Rugby C.V22 7AN Trustees A Cc1nJle-Parola {Cliair) M E Seilgjlcy J Sanders (resigned 22.5.2023) D J Rayner S S Barliey J V Pliillips M 11 Orrill (resigned 21.11.2023) P J Flugli¢s A l. (yre¥nry (re.%igned 20.2.2024) J Jiinn<1n S Back (appointed 23.5.20231 L Hiin.4un {IippointLd 22.8.20231 A Cjilcs (appointed 22.8.20231 Chief Exccutlve P'l'oll¥y Conipuny SeeretAry J Jann¥in Auditors Aikiiis()n Fincli & Co Cliartered Accouiitants C¢ntrAI Ch<iinbcrs 45-47 Albert Sireel Rugby Wdrwi¢ksliir¢ CV212SG Bankers Flandelsbdnken Ground Floor, Ente4)rise Centre l eLI)nology Park ECCJ4 Puin<l Way Coventry CVI 2TT Pagc 7
EW DIRECTIO,5 (RL,GB LIMITED (REGISTERED NUMBER: 02647131) RLPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The tn]siees (who are also the directors of New Directions (Rugby) Limited for tl)e purposes of company law) are responsible for preparing the Report of the Ttustees and the finan¢ial statemenis in accordance with applicable law and United Kingdom Accounting Standards (United Kingd()m Cjencrally Acccptcd Aeeounhi)g Practice). Coinpany law requires the tryslees to prepare finai)cial statenients. for eacl) financial year which give a tniL and fair view of the state of atTairs of the charitable cninpany and of the incoining resources and application of resoiirces, including the inconic and expcnditure, of Ili¢ chariiabl¢ cojnpany for Il)at period. IL) preparing iho.le financial stateiiients. tlie Itijstees a required to seleci suirable accounting policies and then apply th¢m ¢onsisi¢nily: observe the Ineiliods and principle% in the Cliarity SORP, make JudgeiM¢nts and ¢stimatcs that are rcasondble diid prudent., prepare the financiul stateinenls (Jn Ihe goin&F concern b1( SIS Linless it is inappropriate to presume Iliat tlie charitable oinpany will ¢ontinu¢ in business. The Irustees are responsible for kceping proper accouiiling records wluch disclose with reasonable accuracy at any liine the financial position of the cl)aritable coi))pany and lo enable Iliein ¢0 Lnsure ihal Ilie financial blal¢mcnis ¢oiiiply with the Coinpanies A¢t 2006. Tl)¢y are alsu responsible for safeguarding Il)L dssels of (he charitable coiy)pany and hence for king reasonable sieps lor the prevention and dLILCtion OF fraud and otl)er irreguldrili¢s. In so far as the twstc¢s are aware., thcrc is relevant uudil infornialion of whicli Il)c cliaritable conipany's auditors are unawa. and tlie tNste¢s have taken all steps tl)at Il)ey ought li) l)uve takLn to Indke themselves aware of any rclevant audit infom)alion and to ¢stablish tl)at the auditors are uware ol'tlial infoniiation. AUDII'ORS The audiiors, Atkinsoii Fincli & Co. will be proposed for re-appointmeiil al the fortheoming Annual G¢i)Lral Mee(ing. This report l)¢iS bLen prepared in aecorduncc witli the spccial provisions of Pdrt 15 of IhL Coinpanies Act 2006 rclating lo sinall ¢ompanies. Approved by order of the board of iruslces on and signed on ils behalf by: J Jannan - Sccrctary Page 8
REPORT OF THE INDEPENDEIYT AUDITORS TO THE MEMBERS OF NEW DIRECTIONS (RIICBY) LINii'fED IRFC.ISTERF.D NUMRTr:R: 026471.11) Opinion Wc have alidited the financial statemenlg of New Dire¢tions (Rugby) Ltn)iled {Ihe '¢harilable company,) for the year ended 31st March 2024 which coinprise the Sialeimenl of Financial Activities, the Balancc Sheet, the Cash Flow St4ltemcnt and note.q to the financial statemcntg, incliiding a suinmary of significant accounting policies. The financial repoi'ting fraInework that has been applied in their preparation is applicablc law and iiniled Kingdom Accounting Standards (Unitcd Kingdom Generally Accepted Accounting Practice). In our opinion the financial slalemenls., give a Iriie and fair view of the stalc of tlie charitable company's affairs as al 3 1st March 2024 and of ils incoming rcsoui'Les and application of rcsourccs, incliiding? ils income ai)d cxpendilure, for th¢ year then ended. Iiave b¢cn properly prepared in accordance with United Kingdoin Generally Accepted Accounting Practice: and l)avc b¥en prepared in accor(laiiLc witli lh¢ rLqLiiren)Lii15 oftliL Cump¢iniLS Acl 2006. Basi.4 fnr npinlon Wc ci)nduclcd Olir aLidit in accordance witli International Standards on Auditing (UK) (ISAS (UK)) and applicable law. OLir responsibilities linder thos¢ standards are furtl)er d¢scrib¢d in the Auditors, responsibilities for the audit of the rinancial slalements section of our rcpurt. We arL independent of il)c charitable eompic ny in accordance with the ethical requircincnls iliat are relevanl to our audit of tlie fiiiaiicial slalemcnts in tli¢ UL including ihe FRC'S Eiliical Standard, and we Iiave fulfilled our oil)er cihical rcsponsibilitics in accordancc with (hese requircinents. We belicvc that the audit evidence we liave obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions reliiting lo golng concer In audiling Ilie financial .4talcments, we liave conLliided that the Irusle¢s' use of the going ¢onccrn basis of accounting in the preparation of tl)e financial stat¢inents is appropriHt. 13ased on the work we have pcrforn)ed, we l)ave not identified any mal¢rial un¢crtainties rclating lo events or Condition8 Ihat. individually or LolleLtively, Inay cast £igiiifiL'2nt doubi oil Ihe charitable coinpany's ability lo continue as a going oncern for a period ofat Icast Iwelve Inonil)s froiii wlien IliL finiineial %lJlLineni% are authorised for issue. Our rcsponsibiliti¢s and the r¢sponsibilili¢s of th¢ Iru.ql¢eq with r¢spLcl Io going concern are dcscribe(l in tlie relevant cclion.8 of thi5 rcpori. ()ther information Tlic trtislLes arL I'c5pon5iblc for IhL oihcr infonnaiivi). Nic oihcr inforznalion coi))prises Ilie infunnalion included in the Annual Reporl, otlier tliaii the fiiicTrnLial slateinent.% anil our Ileporl ofilie Independent Aliditors tliereon. Our opiiiion on Il)e financial statements does not cover tlie oilier infonnation 1cnd. except to the extent otherwise ¥xpli¢iily %talcd in our rcport, we do not ¢xpr¢ss any fonn of assurun¥c ¥onLlubion Ihcrcon. In connection with our audit of the finai)cial stateiments, our responsibility is to read the other iiiformation &nd, in doing -%0, conqid¢r ivhether the other information is mdterially inconqistcnt with the financial statcmcnts or our knowledge ()btaincd in thc dudit or othcrwisc appears to be matcriully Inisst¢ilcd. If wc identify sucli malcrial inconsisten¢ies or Ipparcnt material misstatcmcnts. wc arc rLquired to dctennine wliether thi.s gives rise to a material rnisslatcmcnl in the rinanci£?I statements themqelves. If, baged on the work we h2cve perfonned, we Conclude that there is a material mi.qslatcmcni of tliis other information, we arc required lo report that fact. We havL nothing io report in this regard. Oiiinion& on otliL'r matters presLribcd by the Compttnli's Act 20U6 In oiir opinion, based on the work iindcrtaken in tlie course ol'tlie audit.. the infonnation given in the Report of the Trnstees for Ilie finanLial year for which the financial statements arc prcpdrcd 1% con%istei)I with the financial 8iatemLnls,' ond the Report of the Trustces lias becn prepared in accordance with applicable legal requirements. Pagc 9
REPORT OF THE IINDEPENDEI'T AUDITORS TO TIII,: MENIBfi RS OF NEW DIRECTIof4iS {RUGBY) LIMITED (REGISTERED NUMBER: 02647131) Matters on which we gre required to report by exception In the light of the knowledge and undersL2nding of thc charitable conipany and its environm¢nt obraincd iii the course of the audit. we have not identified niaterial n)isslalemcnt5 in the Report of the Tiustees. We have noihing lo report in respect of the following niatters wl)ere the Conipani¢s Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or rcturns adequate foi. our audit liave not been received from branches not visited by us. or the financial stslemenls ar¢ not in agr¢¢incnl with th¢ accounting records and returns. or certain disclosurcs of trustees, remuner4ilion speLifi¢il by law are noi made. or wc hav¢ nol receivcd all the infomiation and cxpldnatlDllS WC I'CqULrc for our audit., or the tNst¥es wcre noi eniitled to take advantage of tlie siy)all ¢oinpanies ¢xemplion froin the requii'einent to prcpare a Strategic Report or in preparing the Report of tlie Twstee%. Responslbllltle% of trustees As explained Inore fully in Ihc Statcmenl of Trustees, Responsibililies, tl)e IrLlStces Iwlio are also the dirlclors of tli¢ ¢haritablc company for tlie purposes of coinpany Idw) arL' rcsponsiblc lor thL prcparation of Il)e finanLiul Sidtenients and for being satisfied that they give a tw¢ and fair vi¢w, and for su¢li internal control as th¢ irusl¢CS dctciiyjinc is ncccssary lo enable the preparation orfinanLial slalLmenls ihal arc frcc froin m(Ilerial Inibslalcinenl, whether due lo fraud or eOr. In preparing the financial statements. the (Tustees are responsiblL for assessing the cliaritable coi)Ipany's ability lo coniinue as a going concem, disclosing, as appli¢ablc, matter% related to going concem and using tl)e going COllLcm basis of accounling unless tlie tru51ees either intend 10 liquidate the cl)ariiable company or 10 cease operations, or liave no realistic alternative but lo do so. Our re¥ponyiblllties for the iudll of IhL flnanclal slutL'n)L'n¢s Our obj¥cliv¢.4 ar¢ io obtain reasonable assurancb about wlicihLr tlic finiineial siateinents as a whole are freL froiii material iiiissiaiemeni, whet])cr due lo fraud or ¢rror. and to Is.%U¢ cl Report of tli¢ IndepLndenl Audilors Ihal includL5 our opinion. Reasonable assurance is a high level of assurdiiLe, bul i.s nol 2 guarantee Il)al an ¢iudii conducted iii dccorddllLe witl) ISAS (UK) will always detect a liidlerial iiiisslulLiiieni wlici) it Lxisls. Misslalcnienis Lan arisc froiii fraud or ¥rror and arc ¥on.%id¥rud Illdtcrial if. individiially or itt tl)L dggFrcgate. they could red.4VI)dbly be LxpeLted to influcnLc tli¢ economic decisions of uscrs takcn on tl)¢ basis of these financial .qtateiiients. T]ie extent lo whi¢li our procedures are capablc of dcteciing irregulmrities, including fraud is detailed below.. We Obtained <1n understanding of the legal and rcgyulalory frumcwork% within which the charitdbl¢ company opcriL tcs, focusingi on Ihosc laws and r¥gulations tliat have a direct elTect on Il)e amoui)Is and disclosures in Ilie fiiidncial stiltcments such M.% Ihc Companies Act 2006, tl)L Charities Act 2011 Jnd the Charitics SORP (FR81021. In ddItIon, we cansidered provisioi)s of othcr laws aiid rcgulalions that do noi have a dircci effect Dii the financial 5tutcincnts bul coiiipliance with which niiglil be ftindanient£Trl to tl)e charitable company's ability to opcrate or to uvtsid a matcrial pcnalry. Auditing sland¢irds liniit the required audit procedure5 to identify iion-coiiipliance with these laws and regulations lo enquiry of managen)enl and inspection of regulatory and legal correspondence, if any. We also considered tlie opportunities and incentives tlial niay exist within Ihc cliaritable company for fraud. OLir procedlires to respond to the various risks included enquiries of Indnabremcnl about their own identifiLalii)n and as5CS5menls of risk, inelliding rLviewing the cliarilablc company's own risk register, sainple tcsting on tlie po%ting of journals, rcviewing accounting esliinales for biases, and l'eading 11)iniit¢s of nieelings of those charged with govemancc. Owing to the inlierent limitations of an audil, Ihere is ali unavoidablc risk diat we may not have dei¢¢i¢d soin¢ mal¢rial misstatements &n tlie financial statemen15 or non-cotnplidncc with rcgulaiion. cv¥n though we liave properly pldnned and perfonned our audit in dc¢ordance with auditing standards. lliis risk increases tl)e Inore that coinpliance witli Ilie law oi. regjulation is reiiioved from ibc events and iransaciions reflected in ilie fiiiancial blaleiiienl.%, as we will be less likely to be¢ome aware of instance5 of non-coinpliance. The risk is also greater r¢garding irregularities occurring due ID fraud rather than error, as fraud involves intentional Concealment, forgery> Lollusion, otllission or Inisrepresenlalion. A further description of our respoiisibilitie5 for th¢ audit of the fin1¢][ statum¢nt.4 is located on the Financial Reporting Council's website at www.frc.org.uWaudiiorsr¢sponsibilities. Tliis desL'riprion fonns part of our Repoit of tlie Independent Auditors. Page 10
REPOR T OF THE INDEPENDENT AUDITORS TO THF. MEMBERS OF NEW DIRECTIONS (RUC.BY) I,IIMJTF.D (RF.GISTERED NUMBER.. 02647131} Use of report This report is made solely to the charilable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Oiir audit work has been iindertaken so that we might state to the charitable con)pany's meinbers those Inatters we art required lo stale to them in an auditors, report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assiime responsibility to anyone other than the charitsble company and the charit4ible coimpany's Inembers as 8 body, for our audit work, for this report. or for the opinions we have fomied. Stuart Bolton FCA (Senior Statutory Auditor) for and on behalf of Atkinson Finch & Co Chartered AcLouniancs Central Chainbers 45-47 Albert Street Rugby Warwickshir¢ CV212SG Date.. Page 11
NEW DIRECTIONS (RUGBY) LI.MITED STATII MF.NT OF FINANCIAI, Ac'rivi'i'ics (ILYCORPORATING AN INCOfvIE AND EXPENDITURE ACCOUNTI FOR TklE YEAR ENDED 31ST MARCFI 2(124 2024 Total funds 2023 Total Funds Unreslri¢ied funds R¢stri¢ted funds Notes INCOME AND ENDOWMENTS FROM Donations and legaci¢s 19,615 9,628 29,243 112,618 Charltable activities Residential Care Supported Living Rcspite Carc Coirnnunity Cholec5 Network R¢ntal Incoine 1.156,984 2,764,105 291,148 508,394 965,265 1,156,984 2.764,105 291,148 5DiIJ94 965,265 982.284 2,563.909 218,904 374.450 900,28C) Invcstment incoine 3,250 3,250 3,313 TotAI 5,708,761 9,6215 5,718.389 5.155,764 FXPENDITURE ON Charltable actbviiles R¢sid¢ntial Care Supported Living R¢spite Care Coinmuiiity Choices Neiwork Rental Income Central Activities I,Q64,62.1 2.412,539 203,17 329,891 554,667 987,281 46 1,000 ,065,083 2,433,539 203,170 330,441 54,667 996,030 748,742 2.396,5911 175,588 305.511 805,524 653,242 sso 8,749 Total S,S72,171 10,759 5,582,930 5,085.197 NET INCOMEI(F.XPTr.NDI'I'URE) Transfers betiveen funds 136,590 ioo,uoii (1,131) iioo,Doo ) 135,459 70.567 18 Net movement In funds 236,590 {101,131) J35,4S9 7LI.567 RECONCILIAI'ION Ob" Tr UNDS Total funds brougl)t forward 3,608,759 1 $9,884 3,768,643 3,698,076 TOTAL FUNDS CARRIED FORWARD 3,845,349 58,753 3,904,102 3.768,643 The notes forni part of these financial sthiemenls Page 12
NEW DIREcTIos (RUGBY) I.11TED (REGISTLRED NUMBER: 02647131) BALANCF. SIITr:F,T 31ST MARCH 2024 2024 Total 2023 Unrestricted Restricted Notes rixED ASSETS Tai)gible assets 5,411,069 11,460 s,42229 4,297.805 CLRRkiNT ASSF.TS Debtor5 Casl) al bank and in liand 12 868,860 445.11116 868,f160 492,.379 565,374 775,360 47,293 1.11.1,946 47,293 l J61,239 1,340,734 CREDITORS A]nounls falling due witl)in one year 13 (355,872) (355,872) (472,343) ET CURRE.NT A.SSETS 958,074 47,293 1.005,367 868.391 'I'o'rAL ASSF.TS LESS CURRLNT LIAFIILITIES 6,369,143 58,753 6,427,896 5.166,196 cDITORs Amounts falling duc after more Ilian one year 14 (2.523.794) (2,523,794) {1.397,553) NET A%%F.T.S 3,845,349 58,753 3,9114,102 3,768,643 FUND,S UnrL'.%lricted ndS Restricted tiinds 18 3,845,349 58,75.1 3,608,759 159.S84 'I'o'rAI, FUNDS 3,904,102 3,768,643 Thesc financial siatemcnis Iiave been prepared in accordanLe witli tlie provisions applicable to charitable companies %ubject lo tlie sinall coiiipanies regime. statement.% were approved by tl)e Board of Trustees and auihorised for 2oL.(tr...... and iyere signed on ils behalf by.. on A Can4ile-Pa la (Cliairl - Tnistee The notes fonn part of these financial statements P2ge 13
,YEW DIRECTIONS (RUGBY) LIMITED CASH FLOW ST A TEMFJINT FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Notes Cash tlows from operating Aetivities Cash gencrated froin operations Inleresi paid {69,776) (172,776) 286,883 148,5081 Nel Cash (used inllprovided by operdting aLlivities {242,552) 238,375 Cash flows from Investlng activitles Purchase of tangible fixed a%%eLq Intercst received (1,177,9211 3,25() (1,432,413) 3,313 Nel cash used in invesling activities (1,174,671) (1.429,1001 Cash nows from financing &¢tivities New loans in year Loan repayments in year Loan arrangeinenl fees ,1 IIY,Yl 7 (5S,675) 983,938 153,8441 {23,855) Net cash provided by financiiig activitics 1,134,242 906,239 Changie In cash and cash equivalents In the reportlng PL>riod Ca¥li and La4h L'qultrAILinl.% ill IhL' beginnlng of the reporting period (2112.981) (284,486) 775.360 1,059,846 Cthsh und cash equiTr'nlent5 Ilt the end of the reportlng period 492,379 775,360 The notes fonn Pdrt oFthese financial statements Pagc 14
NEW DIRECTIOJI'S (RUGBY) LIMITED .NOTES TO THE CA.8H FLOW STATF.MENT FOR THE YEAR ETriDED.IIST MARCH 2024 RKCOLYCILL4TION OF NET INCO,ME 'fo NET CA.SH FLOW FROM OPERA TING ACTIVITIES 2024 2023 Net ineome for the reporting period (as per the Statement of FinanciAI Aclivilies) Adjustments for: DepreL'iation cl?arges tnt¢r¢st received Inlere.4t paid Increase in debtors (Decreasel/increa.%e in creditors 135,4S9 70.567 53,197 (3,250) 172,776 {303.486) 1124,472) 31,808 {3,313) 48,508 (25,737) 165,050 Net ¢ash (iiscd in)/provided by oper#tion$ {69,776) 286,883 ANALYSIS or CiiANC.k.S IN NET DEBT At 1.4.23 Cash flow At31J.24 Nel cash C&sh at bank and in hand 775,360 (282,981) 492,379 775.360 (282,9811 492,379 Debt D¥biq falling diic within l year t)ebis falling due after l year (93.847) (1,397,553) (8.001) (1,126,241) (101,8481 (2,523.794) (1,491,400) (1,134,242) {2,625.642) I'tstal (716,040) (1,417,223) {2.133.263) Tlie notes forni part of tliese financial statements Page 15
NEW DIRECTIONS (RUGBY) LIMII'ED NOTES TO THE FINANCIAL STA'fEMENTS FOR THE YEAR ENDED31ST MARCEI 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial staicmcnts of tl)L cliaritablL coiiipany. which 1$ a public benefit entity und¢r FRS 102, liave been prepared in accordance with tlie Cliarities SORP IFRS 102) 'Accounting and Rcportirbg by Charities.. Stat¢inenl of Recomm¢nded Practice applicable to cl)drities preparing their accounts in accordance with the Financial Reporting Standard applicable in the IJK and Republic of Ireland (FRS 102} (effective l January 20191,. Financial Reporting Siai)dard 102 'The Financial Reporting Standard applicable in th¢ UK and Rcpublic of Ireland, and the Compaiiies Act 2006. Thc finallcial sttttenients l)ave been prepured under rhe hislori¢al cost convention. Income All in¢oIne is recognis¢d in the Stateinent of Financial A¢tiviti¢s once the charity l)as ¢ntiileincnt to Ille ti5nds, it is probable that Ihc incomc will bL rcceived lgiid IhL amouiil can bc measurcd rcliably. Grunts Incoine from grants is recognised when Il)e charity has enliileinenl to the fund.s. The in¢oiiie is Inatcl)ed lo the asbociated expLnditure and any cleincnt of tlic gyrunt tlidt rclatL% to future costs 1% defLrrcd and LaiTied fonv6ird in an appropriate restricted fund. Expenditure Liabilities are reco8nis¢d as expcnditurc ds soon as tli¢r¥ is a l¢g?al or constructive obligation coininitting the charity 10 that expenditure. it is piobdblc that d tian.%fer of eLonoiiiiL benefil.g will bc required in %¥ttl¢mcnt dnd the ainount of th¢ obligation can be Ineasured rcliably. Expenditure Is aLcounte(I for on an accnials bilsiq and lias bccn Clabsified under h¢adin&ys that uggr¥gal¢ all ¢osl r¢lal¢d to th¢ catC&FOry. WhLre costs Cdnnot be dirLYcly ai¢ribuied to purticular headings they have bccn all()cuted lo aclivitic8 on a b&qis consi8tenl with tlie Lise of resourLLs. T#nkJible fixed assets DcprLLiation is provided at tl)e following ai)nual rates in oler lo write off each assct ovcr ils &8tiinat¢d useful life. Frechold propety Short Icasehold Fixtures and fittings Motor vel)iclcs not provided pLriod of tlie lease 250/0 on ¢osl 250/0 on cost The trustees consider that the freehold buildings are Inaintained li) such a state of repair that their residiiul valiie is at least equal to their net book valuc. As a rc%ult the corresponding depreciation would not bc n)atLrial Ihereforc 15 not chargcd in Ihc Statcincnl of Financial Activiti¢5. Taxatlon ThL charity is cxcmpl from corporation lax on its. charitablL acliviliLs. Fund #ecountlng Unrestricted funds can be used in accordance with the charitable objectives at thc discretion of the trustees. Designated tijnds are iinrestricted funds that have b¢¢n sei aside by the ¢harity for a specific purposc, Restricted fijnds can only be iised in &ccordancc with specifie restrictions imposed or wl)ich have been rai.qed by the charity for particular purposes.Where funds have beeii given for the bcncfit of r¢siden15 or custoii)er% tl)ey ai"e allocated to a specific restricted fund. Tl)ese niay be traiisferred at a later date to ai)other rcstrictcd fund tlial provides a different benefit for the saine group of people provided it is in accnrdaiice with tl)e spccilic restrictions on thc original doiialion. Hire purchase and leasing conimitments Rentals paid under opcrating leasc5 arc charged to the StateEncnt of Financial Activities on a straight lin¢ basis over the period of the leic se. Page 16 Lontinued...
NEW DIRECTIONS (RUGBY) LIMITED
NOTES TO THE FINANCIAL STATF.MFNTS- continued
FOR TIIE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES- eontinued
Penslon costs thnd other post-retirement benefits
The cliaritable coinp8ny operates a defined ¢ontribution pension scheme. Contributions payable lo the charitable
ompany's pension scheme are charged io the.8iatement of P inancial Activilics in the period to which they relate.
Significant estimates 9nd key jud%emcnts
There are no signific2nt judgeinenis that l)ave a material effect on the a¢¢ounls nor any accounting estimates tlial
have a high risk of causing a Inatcrial adjustment in a future perio(l.
DONATIOINS AND LEGACIES
2024
2023
Donations
29.243
112.618
INVESTMENT IIYCOME
2024
2023
Deposit accolinl inleregl
3,250
3,313
INCOME FROM CH.l'fAI1LE ilC"rIvi'rIES
2024
2023
Activity
Rcsidcnliiil Cnrc
Supported Living
Supported Livin
RLSPltc Ccire
Reqpilc Care
Community Choiccs Network
C.oinn)unity Choices Network
RLnt
NEW DIRECI'IONS IRUGBY) LIMITED ,NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR EP*DED 31ST MARCH 2024 CHARITABLE ACTIVITIES COSTS ireci Costs Iscc note 61 Residcntial Carc Supported Living Respite Care Coinmunity Choices Network Rental Income Central Activities ,065,083 2,433,539 203,170 .730,441 554,667 996.D30 5,582,930 DJRECT COSTS OF CHARITABLL ACTIVITIES 2024 2023 Staff costs Reni Rates and water InsurancL Liglit and lieal Repairs and mainlcnance Advertising and marketing T¢l¢pl)onc Other officc expen8es Food ond houseliold Nur5ingJ and l)ygyicnc Activities and materials Residents. eosls Technology costs Motor and Iravelliiig Registration fees Staff training Staff DBS and medical Govemdnce costs and training Legal and professional FIR support Auditors reniuneration Depreciatioi) Interest payable and siiiiilar charges 4,340,699 4112.208 211,229 36,SU91 62,458 120,911 24,155 4,021.39.5 471,774 21,549 35,772 44,335 131,196 22.222 30,275 28,796 47,115 i 0,()7 18,182 1,727 4C).619 21,352 4,045 21,399 4,147 2,210 3,956 10,017 6,120 31,808 48,508 30,K)56 47,2U6 19.760 8,673 883 42,298 24,175 3,1106 17.5Q7 4,206 2.262 7,174 11,775 4,620 53,197 172,776 5,582,930 5,085,197 Pagc 18 continued...
NEW DIRECTIONS (RUGBY) LIMII'ED ,NOTF,S TO I'HL blNANCIAL.STATENI ILNT8- continued FOR THE YEAR ENDED 31ST MARCH 2024 NET INCOMEI(EXPENDITURE) Net incomd(expendiiur¢) is ststed &ifter ch1< rgingl(crediting)- 2024 2023 Depreciation - owned assets Other operating leases 53,197 4112,20R 31,808 471,774 TRUSTEES, REMUNERATION AND BENF.FJTS There were no trustees, reiiiuneralion or oil)er benefits for the ycar ended 3 1st March 2024 nor for the year ended 31 gt March 2023. The Trustees neitlier received nor waived any emolLiments diiringy the ycar (2023 NIL). During the year dircclorq li<ibility in511ranc¢ was purchased as part of a con)bined business insurance package and Ihcreforc cannot be quantificd. Tru5tees' expenses There were no tnislee.q' expenqes Pl¢id for the year endcd 31$1 March 2024 nor for the y¢<lr ended 31 qt March 2023. .STAFTr' COSTS 2024 2023 Wa&Te.s and s&larie.g Soci<il 8eciirity cost% Other pension costs 3,967.543 296.799 76,357 3,668,067 285,028 68,30 4J40,699 4.021.395 Th¢ avera¥e iiionthly numb¢r of cn1plny¥es dtii'ing Ihc yellr wus as follows.. 2024 2023 Senior mani& gers C¢ire m<lnaLicr.q Adminislralive slutT Siipport staff 135 109 150 122 The niirnber of employees whose CTnploycc bcncfits {cxcluding employer pen4ion cosis) cxcccded £60.000 was.. 2U24 2023 £70.001- £80,000 Pagc 19 continucd...
W DIRECTIONS (RUGBY) LIMITED NOTES T() THTr: fiNANCIAI, STATF,MFNTS. eontinued FOR THE YEAR ENDED 31ST MARCH 2(124 STAFF COSTS- contlnued 2024 2023 Senior managers Care Inanagers Adininistralive staff Support staff Agency bubconiracl sta 174,823 200.591 228,720 3,236,925 126,484 184,960 191.588 199,741 2,5160,432 228.986 3,967,543 3.665,707 The scnior manabTrers linc represents the reinuneration paid to the key nianag¢in¢nt personnel. 10. COMPARATIVES FOR TFIF. SI'A'fEMF.NT OF FINANCIAI. AC'I'JVITJr.s Unreslricted runds RestriLted runds Total ftinds INCOMF. AliD kNDOWMENTS FROM Donations and legacies 112,618 112,618 Ch#ritable activities Residcnlial Care Supportcd Living Rcspite Carc Coinmunity Clioiccs Nctwork Rcnlal InLoine 982,284 2,5C)3,909 218.6()4 .170,373 900,286 982,284 2.563,9a9 218.904 374,450 900,21S6 300 4,077 Investnienl incnmc 3,313 3.313 Total 5,038,769 116,995 5,155.764 EXlbKNDITURE ON Ch#rltable activities Resideiitial C'are Supportcd Living Re,%pilc Care Community Choices Network Rental Income Central Activities 743,514 2.386,762 174.277 301,499 805.524 653,242 5,228 9,828 748,742 2,396.5911 175,58 305,511 805,524 653,242 4,012 Total 5,064,818 20,379 5.085.197 NET INCOTrIEI(EXPENDITURE) (26.049 J 96,616 70.567 RECONCILIATION Ob FUNDS Total funds brouglit forward 3,634.808 63,268 3.698,076 TOTAL FUNDS CARRIED FORWARD 3,608.759 159,884 3.768.643 Page 20 Continued...
NEW DIRECTIONS (RUGBY) LIMI ITED NOTES TO THL b'lNAINCIAI. STA'I'EMF.NTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 li. TANGIBLE FIXED ASSETS Fixture and fittings Freehold propety Short leasehold Moror vehicles Total CO,ST At 1st April 2023 Additions 4,223,536 J,083,471 118,922 94,450 61,854 4,448J37 1,177,921 Ai 31 sl Marcli 2024 5,307,007 44,025 213,372 61,854 5,626,258 DEPRECIATION At I st April 2023 Charge for year .14,4D6 4,4D3 74,481 40,045 41,645 8,749 150,532 53,197 Ai 31 st Marcli 2024 311,¥09 114,526 50J94 203,729 NE'f BOOK VAI.UF Al J I st Marcli 2024 5J07,007 5,216 98,846 11,460 5,422,S29 At 31 st Marcl) 2023 4,223,536 9.619 44,441 20.209 4,297,805 12. DEIITORS.. AIMOUNT.g FALLINC DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debiors PrepayiMenl.S Kind L1eerued ineonie 749,447 700 118,713 440,684 32,954 91,736 868,860 565.374 13. CRF.DITORS: AMOUN'fs FAI,I.ING DUF. wi'fHIN ONF; YEAR 2n24 2023 nk loans and overdrafts (-se¢ note 151 Tradc Lrcdilors SociHI 8eciirity and other taxes OiliLr creditors Pcnsion coiitribiitions Accnicd expcnscs 101,848 28,027 69,762 93.847 211,919 52,752 3,536 3,264 107,025 26,58.3 124.199 355,872 472,343 Page21 continued...
F¥EW DIRECTIONS (RUGBY) LIMITED NO'I'ES TO THE FINANCILIL STAI'LMENT.S- Lontinued FOR THE YEAR ENDED 31ST MARCEI 2024 14. CREDI'I'ORS: AfvIOUNTS FALLING DUE AFTER MORE THAP*' ONE YEAR 2024 2023 Bank loans (see note 15} 2523,794 1.397,553 15. LOANS An analysis of the mamriry of loans is given below.. 2D24 2023 AmoLLnls f311ing due witliiii oiie year on deinand.. Bank loans 101,848 93.847 Amounts falling between one and two years: Bank loans- 1-2 years 101,848 101,848 Amounis falling due betweei) nvo and live years.. Bank IodllS- 2-5 ye 305,544 305,544 Amounis falling due in Inore Il)an five years.. Repayable by inslalmenls.. Bank loans more 5 yr by instBI 2,116,402 990,161 16. LF.A51c AGRTr.fi,MTr.NTS MinimLl1 lease payments under non-cancellablc OPLraling le¢l8es fall due a8 follows.. 2024 2023 Within one year Betwecn onc and five year5 In more than five years 4511,930 1,585,248 511,788 464.407 1.682 ?88 874,174 2,555,966 3,020,869 17. SECURED DEBTS Th¢ following sccured debis are included within creditors.. 2024 2023 Bank loans 2,625.642 1,4<J1,400 The bank loans are secured 01) Riclin)ond Lodge. 27 Bilton Ro&id, Rugby CV22 7AN. Poppy Placc, 1-3 Alfred Strc¢l. Rugby CV21 2EL, Ddlsy Court, IA Mclrkct Street, RuLiby CV21 3HCJ and 30 Vicarage Road, Rligby CV22 7AJ, together witli a fixed 1( nd floating ch1( rge over all the charity's oth¢r ass¢ts. Page 22 coniinued...
I EW DIRECTIONS (RUGB LIIMITED NOTES TO THE FIN'ANCJAL STA TF.v1F.Ts - continued FOR THE YEAR ENDED 31ST MARCH 2024 18. MOVEMLN"r iiy FUIYDS Net movement in funds Transfers between At 31.3.24 At 1.4.23 Unrestricted funds Gcneral Fund Developinent and Maintcnance Fund COVID Recovcry F.und 3,280,711 265,$08 62,540 136,590 162,540 3,S79,841 265,508 {62,540) 3,608,759 136,590 i 00,000 3,84&349 Restricted funds Transport fuiid Day Oppormnilies Flind Reqpite Fund Coinmunal Assets Fund HardNliip Beiievolent Fund Poppy Placc Fund Vchicl¢ Fund Qiieen.% Lourt Fund Gateway Fund Kiiig.8 CoLlrt fund .SLIPPOllLd Living Gardcn Fund Ddisy Coiirt Fund 595 5,795 I,Q76 455 11,6.$1 -$95 5,745 10,18 455 11,651 20,805 1,875 400 3,566 737 2,735 (SQ) 9,113 (5,460) (3,749 > 5,624 400 3,566 737 3.720 i 00,000 (985) (ioo.fjoo ) 159,1184 (1,131) (100,uDo ) 58,753 'I'OTAL FUNDS 3,768,643 13.S.459 3,904,102 Nel movcmcnt in fiinds, included in tlie above arL As follows.. Incoinin resourcc.s Resources expended Movemenl in funds Ilnre$trieted funds CiLneriil FLind 5,708,761 (5,572,171) 136590 Restrlcted funds 1)8y Qpportunities Fund Rcspitc Fund Poppy Place Flind Vchicle Flind Supported Living Garden Fund 500 9,113 (550) (50) 9,113 (.S,460) (3.749) {985) (5,460) {3,749) (1.000) 15 9,628 (10,759} {1,131} TOTAL FUINDS 5,71 f4,.389 15,582,930) 135.459 P8ge 23 Lontinued...
NEW DIRECTIONS (RUGBY} LIMITED NO'f*:s'i'() TIIF. Tr"IP4ANCJAL STATEMENTS- cnntinued OR'fiiE YEAR ENDED 31ST MARCFI 2024 18. MOVEMENT IN FUNDS- continued ComparAtlve5 for movement in fuiids Nel movement in funds Al 31.3.23 At 1.4.22 Unrestricted funds General Fund DcvelopiY)cnt dnd Maintenance Fund COVID Recovery Fund 3,226,739 265.508 142,561 53,972 3,280,711 265,508 62,540 (80,021) 3,634,808 (26,049) 3,608,759 Rc%trlcled funds 'rran%port I'und Day Opportunities Fund Respite Fund Communal Assets Fund Hardship Bciievoleiit Fuiid Poppy Place Fund Vehicl¢ Fund Qucen% Court l-.und Gateway Fund Kings Court Fund Siipported Living Garden Fund Daisy Court Fund 595 4.932 1,187 4,788 595 5,795 1.076 455 .651 26.265 5,624 4UO 3,566 737 3.720 i 00,000 863 (4,333) 30,343 9,372 400 (4,078) {3,748) 3.566 737 3,720 I00,O(K) 63,268 96,616 159,884 TOTAL FUNDS 3,698,076 70,567 -3.768,643 Coinparalive nel Inoveniei)l in fut)d8, included in the above arc as follow.q- Incon)ing resources Resnurce5 expeiided Movcinenl in fiinds Unrestricted funds General Fuiid covit) Rtcov¢ry Fund 5,038.769 14.984,797) 180,021 } 53,972 (80,0211 5,0311,769 15.064,818) (26.0491 Restricted funds Day Opportlinities Fund Respite Fund Coiiimunal Assets Fund Poppy Place Fund Veliicle Fund Gateway Fund Kingis CoLlrt Fund Supported Living Gardeii Fund Daisy Coiirt Fund 4,875 1,200 14,012) 863 14,3331 (5,2281 (3,7481 (1,434) {313} (4,3331 (4,0781 (3.748) 3,566 737 3,720 i 00,000 1,150 5,000 1,050 3,720 100.000 116,995 {20,379) 96,616 TOTAL FUNDS 5,155,764 (5.085.197) 70,567 Page 24 continued...
NEW DIRECTIONS (RUGBY) LILIIITED YOTES TO THE blNANCIAI. STATF.Mb.N'fs- continued FOR TIIE YEAR EN'DED JIST MARCII 2024 19. CAPI'fAL COMMITMENTS 2024 2023 Contracted but not provided for in the financial statements 1,006,076 20. RELAI'F.I) PARTY DISCLOSURES Tl)ere were no related party tr8nsa¢tions for the year ended 318r March 2024. 21. COMPANY STATUS Tl)e Charity iq a company limited by guarantee. All menibers guaraniee an amounl not lo excecd £1 O payable in tl)e event of the company bcing wound lip with a deficiency of assets. At 2 Isl March 2024 there wer¢ 47 menibers (2023 - 47 members). Page 25