Charity registration number 1005302 (England and Wales) Company registration number 02647131 NEW DIRECTIONS (RUGBY) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NEW DIRECTIONS (RUGBY) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees J Jarman 5 Barhey A Giles L Hanson P Hughes J Phillips D Rayner M Sedgley A Canale-Parola (Chairl Secretary J Jarman Senior management P Tolley T Gray Chief Executive Finance Manager Charity number (England and Wales) 1005302 Company number 02647131 Registered office Richmond Lodge 27 Bilton Road Rugby Warwickshire CV22 7AN Auditor Burgis & Bullock 23-25 Waterloo Place Leamington Spa Warwickshire CV32 SLA Bankers Handelsbanken Suite I Bloxam Court Corporation Street Rugby CV212DU
NEW DIRECTIONS {RUGBY} LIMITED CONTENTS Page Trustees, report i-io Independent auditor's report 11-14 Statement of fi nancial activities 15-16 Balance sheet 17 Statement of cash flows 18 Notes to the financial statements 19-37
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. New Directions (Rugby) Limited INew Directions) provides houJing and support to vulnerable people, including adults with learning disabilities. The Charity provides support to people living in their own homes, residential and respite support in the Charity's own bespoke facilities, and also through day opportunities and sessional services. Objectives and aims The Charity's objectives are set out in the Articles of Association but have been summarised for the benefit of the Inspection Service under the Care Standards Act and the Essential Standards of Quality and Safety, as fol lows: l. The provision and facilitation of housing, social housing, supported housing and specialised supported housing to vulnerable members of society,. 2. The provision of residential and day care facilities for vulnerable and learning disabled people, either on a long-term basis or on a short-term basi5, and to provide respite for those who are normally cared for by their families. carers or guardians; 3. The provision of transition skills training/facilities for vulnerable and learning disabled people to enable them to learn how to live their own homes now and in the futu re,. 4. The provision of facil ities, in the interests of Social welfare, for education, volunteering, employment a nd for the recreation of such persons and genera 51y such facil ities and services a5 shall be ca Iculated to alleviate their needs. Our Mission and Vision is: To make a positive difference to the lives of vulnerable people, includi ng those with learning disabil ities, by promoting their rights, independence, choices, inclusion and by providing support and opportunities for them to lead fulfilling lives. To provide a range of quality accommodation, as well as support at home and supported living support, and services to people with learning disabilitie5 and their families/carers to promote their self-respect, individuality, dignity and to ensure they are safe and able to achieve their goals and wishes.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We Believe: Everyone is equal and should have the same chances and choices in life People with learning disabilities should be listened to and supported to make choices that are right forthem That the views of families, friends, carers and staff are very important and should be heard - People should be supported and erlcouraged to be as independent as their potential allows That we should always strive to improve our Services and adapt them to the changing needs of the people we support whilst ensuring value for money services We will do that: By putting the interests of vulnerable people, including those with learning disabilities, and their families at the heart of everything we do, listening to their wishes, hopes and aspirations of their futu res. By adopting a person-centred approach, promoting individual choice, independence and by valuing and treating everyone with dignity and respect. By providing high quality accommodation and support through a range of sUPPOrted living, residentia I, short st3y/respite, home care options, day, leisure, socia l activities and support towards volunteering or employment opportunities. By ensuring our staff are well supported, trained, highly motivated, able to deliver the highest quality individually tailored support services to each person we are responsible for. By striving to improve services, to continually raise local awareness, promoting the positive contribution and potential of people with a learning disabil ity within thei r community. New Directions is committed to enhance the rights, independence, choice and inclusion of people with disabilities and to provide opportunities for them to lead full and purposeful lives and to be involved in the community they live in. Public Benefit The Charity exists to support vulnerable people, including those with learning disabilities. their families and carers: their choices and wishes are at the very heart of everything we do, through our person-centred services. Our links with families, friends and carers are very important to the Charity and we aim to maintain these and offer support as far as we are able. The Charity regularly reviews the ways in which it engages with people who use the services, families, friends and carers. Current engagement methods include newsletters, emails, social media and meetings with individuals. In setting the Charity's objectives and strategies we have given due consideration to the Charity Commission's guidance on public benefit. The Charity currently supports over 115 people with a disability and employs over 200 people from Rugby and the surrounding areas. We also work with local schools, colleges and businesses to improve their understanding of disability issues, facilitate opportunities for joint partnership working and more inclusion for people with disabilities, both in the community and within social networks. We work in partnership with local groups and charities to share OLJr resources wherever we can, including offering room hire within our buildings at affordable rates.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance Charitable activities The Charity continues to consolidate its financial reserves enabling it to invest in innovative new developments and services to meet the needs of its existing and future customers. Vicarage Road was formally deregistered as a Care Home in 2024 and we are planning to re-utilise this property to help meet the demand we have seen for high quality respite provision. We are working with Architects to develop plans to convert Vicarage Road into additional respite capacity. Milner House, our residential respite service saw occupancy rates hitting an all-time high of 93%. We continue to work with our funders to meet the increasing level of demand, identifying new people to support and to maximise the income of the property to ensure that we can secure the long-term future for the service as it is so vital for so ma ny families across Rugby and Warwickshire. Community Choices Network ICCNI our day opportunities facility at The Exchange has seen a sustained level of use. By working with the landlord of the property in 2024, two additional toilets have been fitted which has made the facility much more comfortable for all. Richmond Court, Gateway Court. Kings Court, Lennon Court and Queens Court continue to offer supported housing for up to 75 people living in their own flats, enabling them to live as independently as possible. I other individual is supported within their own home in Rugby. Training compliance levels were sustained at over 990/ts across the organisation as we continue to work towards ourtarget of achieving 100% compliance. We have received a number of grants and donations during the year including a grant received from the National Lottery Fund of £20,000 towards the purchase of a new minibus to enable the people we support to acce55 transport as part of our Day opportunities provision. We also received a grant of £5,000 from The 29th May 1961 Charitable Foundation for the same purpose and a minibus was secured in April 2025. A separate grant of £5,000 was secured from the Screwfix foundation towards the installation of hoists within our re5Plte service. We also received donations from local charities and businesses. The Rotary Club of Dunsmore donated £2,000 having nominated New Directions as their charity of the year Smaller grants and donations were received from Warwickshire County Councillors Community grants scheme, Warwickshire CAVA Kind Food grant scheme and funds raised through a garage sale organi5ed bv residents on the Woodlands estate of Rugby. We received generous donations from Sir Edward Boughton Long Lawford Charity, and received fund5 raised by the 'Pantomaniacs' who resolved that each year funds raised from their seasonal Panto performances would be donated to New Directions Rugby.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Quality Assessments and Achievements Care Quality Commission Assessments All our homes and services hold a Good rating, under the CQC assessment regime, with very positive inspection reports with no actions to follow up. Disability Confident Employer New Directions maintains its status as a Disability Confident Employer; this is the successor to 'Positive about Disability Feedback and Involvement by the People we Support Customer and Stakeholder Satisfaction Feedback The views of everyone involved with the Charity are very important to us. We obtain regular feedback through user-friendly questionnaires and also through group meetings. These enable customers and stakeholder5 to tell us what we do well and what they would like u5 to change. Our electronic feedback forms enabled even more people to give feedback this yea r with high levels of satisfaction bei ng expressed from 183 respondents which is a great increase on the previous year's 115 responses with each respondent being able to submit anonymously should they choose to. Person Centred Plans Everyone we support has a person-centred plan, which involves placing the individual at the centre of the plan, their family and friends and support staff. These plans are reviewed annually and are a key part of our organisational philosophy. We look at what is important to the individual and how they can be supported to achieve their needs and desires. Voices and Choices and Tenants meetings The people we support meet on a regular basis, supported by invited staff members, in a Voices and Choices meeting. Tenants are also invited to quarterly meetings to discuss their homes and where they live. The people we support have the opportunity to make suggestions and to tell us about their ideas at these meeting5. These groups continue to be involved in shaping future services and to play an active part in governance. Developing our Communications We continue to produce regular communications, which are formatted in an accessible, easy to read and understandable format. This newsletter highlights the achievements and adventures of our customers and staff along with future developments. We also send out email news updates, and information through our Facebook, Twitter, Linkedln and Instagram social media pages and through updates on our website. The star of the Month" award which recognises the hard work and commitment of individual staff members continues to be well received and valued alongside our Teamwork and CEO'S Outstanding Contribution awards to recognise our staff in greater num bers for their contributions.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Developing our Staff New Directions is committed to and invests in a comprehensive staff training and development programme for all its staff tea m, so they are knowledgeable, skilled, continually u pdated and to ensu re they can offer the highest quality of services to people with learning disabilities. The improvements put in place and felt over the last year in terms of learning and development has seen near 100% compliance in training achieved across the organisation and satlsfaction and feedback from staff on their development rise accordi ngly. The Board would like to thank all the staff and volunteers for their hard work and dedication over the last year. The Board is happy to report that the Charity achieved all strategic objectives set for the 2022-2025 period. Future Developments Our 2025-28 strategic objectives are: To expand our respite provision by redeveloping and repurposing Vicarage Road into a 4 bed respite care home to be run alongside Milner House Embed our Awards ceremony held within our 2024 AGM in to every AGM going forward Refresh the New Directions Website and branding in readiness for our 75th year celebrations Celebrate our 75th year of providing accommodation and support in 2026 Secure the Care Home tender for Warwickshire'5 framework of residential providers Expand our training offer externally and achieve accreditation through Highfield Secure a new Minibus through fundraisingto increase our fleet of company vehicles Maintain our Supported Living void leve15 at below 5 Financial review Review of past financial year The Charity has had another successful year and continues to steadily increase the number of people it 5UPPOrts. Daisy Court, our latest residential 10 bed care home development, was officially opened by the Mayor of Rugby on the 5th March 2024. Daisy Court has evolved into a wonderfully welcoming home and achieved 800A occupancy during 2024/5. During 2024/5 much energy and time was focused upon reducing the number of voids within our supported living properties and by the end of the financial year, the number of voids held had reduced 5ignificantlv from 12 to 6. It was pleasing to see that our respite service at Milner House continued to Sustain high occu pancy levels and our Day opportu nities service f urther increased attendance levels. The investment in growth seen in recent years means that we are in a strong financial position going forwards and the budgets for 2025 indicate that all services will make a positive financial contribution to the Charity. Managers are required to report directly to the Board on their service and are held to account if budgets are not maintained.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR fHE YEAR ENDED 31 MARCH 2025 The Board. CEO and management team recognise that while 2024/5 has been a very busy and rewarding year, the investments made into developing new services and our focus upon the Key Performance Indicators for our services and the Charity as a whole have resulted in the provision of high-quality support and evidenced improvements. All are committed to keeping the running costs of the Charity as low as possible, whilst maintaining our high quality, responsive services. Going Concern Basis The National Living Wage increased again during the year, which places a significant burden on the Social care sector at a time when the increase in National I nsurance contributions place add itional pressures upon care providers across the sector. Our funders announced a mixture of funding increases for the year of 2024/ 5, yet with careful planning the Board of Trustees was able to put in place an 6.7Yo increase for our frontline staff in recognition of the increase in national minimum wage. The Charity has achieved planned growth in the last few years and the Trustees are confident the Charity will continue to operate as a going concern for the foreseeable future. Reserves policy The trustees of New Directions believe that the Charity should hold financial reserves because.. l. It has no endowment funding and is dependent for income upon fees received from the local government. U nder present circLJmsta nces this may be expected to reduce significantly and/or at short notice. 2. It requires protection against and the ability to continue operating despite any unforeseen events or tempora ry shortfalls. 3. It is necessary to provide funds which can be designated to specific projects in line with our strategic objectives 4. To cover administration, fundraising and support costs without which the Charity could not function. The trustees consider it prudent that free reserves, defined as net current assets less amounts that are designated or restricted for a specific purpose, should be sufficient to cover 3-6 months, administration, fundraising and support costs, and to provide a pool from which fund5 can be designated. The trustees also consider it prudent to ensure that it retains sufficient cash to cover 3 months, cash flow. The required level of free reserves and cash held, along with the position at the end of each quarter, is reported to the trustees at each board meeting. The reserves policy is reviewed by the trustees every three years. The Charity holds general unrestricted funds of £3,709,24712024'. restated £3.466,5611, unrestricted designated funds of £317,91912024: restated £321,791) and restricted funds of £31,39612024: restated £2,470).
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure• governance and management Governing document The company is a charitable company limited by guarantee originally incorporated on 19 September 1991. A Memorandum and Articles of Association governs the Charity. It is independent from all other organisations and public bodies. Organisational structure The Charity is governed by a Board of Trustees (Directors), supported by a management team led by a Chief Executive. The management team consists of a Finance Manager, a Human Resources Manager, Operations Managers, Registered Managers. Deputy Managers, Facilities Manager, Training Manager and Off ice Manager. The Chief Executive is responsible for the day to day running of the Charity and is appointed as the Responsible Individual as required by the Care Standards Act and the Essential Standards of Quality and Safety. The Chief Executive, Finance Manager, Human Resources Manager and Operations Managers report directly to the Board of Trustees. Board of Trustees The Board of Trustees presently consists of ten members and meets a minimum of four times per annum. The maximum number of trustee5 IS twelve and shall be not less than five. The powers of the Board are defined in the Articles of Association dated 7th January 2014. The Board is made up of members who have a range of experience in areas such as special needs education, finance, psychology, business development, housing and local authority, legal matters and family members of the people we Support, who can give an insight into living with people with learning disabilities. The board members provide complimentary skills, experience and knowledge ensuring an objective view in any management discussion. The Board has two sub-groups being Finance and Development and Quality Assurance and Policy.. both made up of Trustees and are supported by the management team. The Sub-Groups have delegated powers and agreed Terms of Reference and report to the Full Board of Trustees. Following a Governance review held in October 2023, each trustee is also allocated to the development of one of the following 8 areas of good governance as def ined by NCVO,. Foundation principle. Organisational purpose, Leadership, Integrity, Decision making, risk and control, Board effectiveness, Equality, diversity and inclusion and Open & accountable. Trustees are openly recruited through the use of the Charity website. the national REACH volunteering website and network, social media and direct promotional mailings to families of those supported by the charity as well as through 'word of mouth,. The skills requ ired from new Trustees are identif led by analysing the Trustee skills audit held by the charity. Potential Trustees expressing an interest in the role a re invited to hold informal discussions with the Chief Executive, attend an informal meeting with the Chair and or Vice Chair of Trustees prior to attending Board and subcommittee meetings as an observer. References are taken up and a full DB5 check obtained for any Trustee considered for appointment. Any prospective Trustee brought on to the Board during the year is co-opted by the Trustees until they are formally proposed and elected to the role at the next AGM.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of Signature of the financial statements were: J Jarman S Barhey AGiles L Hanson P Hughes J Phillips D Rayner M Sedgley K Ward (Appointed 27 May 2025 and resigned 8 October 20251 (Resigned 9 September 20241 S Back A CanalÈ-Parola (Chair} Regulation, Compliance and Funders As a provider of supported living, re5Plte, supported housing and residential care services the Charity is subject to regulations set out by the Care Quality Commission. The Charity is subject to planned and unplanned inspections to ensure that all regulations are complied with. The Chief Executive reports the findings of all inspection reports to the Board and any action taken or needed. In complying with the Essential Standards of Quality and Safety from the Care Quality Commission, the Trustees are of the opinion that a I I risks relating to the activities of the Charity have been identified and robust systems and procedures are in place to manage those risks. The Charity works closely with the Local Authority, Warwickshire County Council and the National Health Service in the form of the Integrated Commissioning Board IICB). Most customers are financed by fees paid by either Warwickshire County Council or the ICB. The Charity has developed good working relationships with Warwickshire County Council and the ICB and has developed innovative services and accommodation in line with the needs of the people it supports and commissioning intentions. Some customers also pay out of their own personal budgets. Structure, Governance and Management The Chief Executive is responsible for ensuring that all the financial controls are in place. The Finance Manager carries out the day-to-day fu nctions and is responsible to the Chief Executive. Major financial decisions are made by the Board of Trustees. The Board has confirmed its compliance with the Good Governance Code of Practice as recommended by the Charity Commission. This includes internal controls, financial, governance and risk management, whistle- blowing, equality and diversity, performance appraisal, clarity of roles and measures to avoid personal benefit or confl icts of i nterest.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Pay and remuneration of key management All key management posts have salary scales in place informed by benchmarking data and/or the benchmarking advice of our external HR advisors. Progression through each salary scale is subject to a performance review process and is dependent upon the achievement of targets, overall contribution to the company's strategic objectives and financial affordability. All posts are regularly checked against the social care market locally and regionally to ensure competitiveness and our abil ity to effectively recruit. Pay u plifts are agreed across the organisation each year by the Trustees as part of the cha rity's budget-setting process and applied from April each year. Annual pay uplifts are dependent upon the financial uplifts received from our funders, principally Warwickshire County Council and the Integrated Care Board. As pay uplifts are applied across the whole organisation, this ensures that the differentiation between roles and responsibilities is protected and a clear progression route is maintai ned. Risk management 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 provide reasonable assurance against fraud and error. The Charity has a risk strategy in place along with a detailed risk register ensuring that the risks are identified, assessed and managed. Significant risks to the charity are reviewed by the Trustees at every Board meeting. Risks a re grouped into Strategic, Compliance, Operational, Financial and Reputational risks. Each risk is rated for its impact and likelihood of occurring given any mitigating actions already taken. At the time of the report, principal risks identified scoring 3 or above on a scale of 1-5 included; reducing voids within supported living premises, reducing agency costs and engaging with the Fair Pay Agreement consultation for social care. The Board has in place clear monitoring and reporting requirements for each of these risks to ensure that, supported living voids are kept within the targets set by the budget for 2025/6, that agency costs steadily reduce and that the charity actively engages in local and national consultations so that any resulting fair pay agreement is a pplied to al I ca re workers equal ly and that local authorities are financia I IV resourced i n order that all providers can meet any resulti ng add itional costs. Each of these three principal risks are RAG rated as Amber and scored at 3 on the 1-5 scale. None of these risks is currently expected to adversely affect the financial performance or position of the charity going forward.
NEW DIRECTIONS (RUGBY) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees, responsibilities The Trustees. (who are also the directors of New Directions (Rugby) Limited for the purpose of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Com pany law requires the Trustees to prepare financia I statement5 for each fina ncial year which give a true and fair view of the State of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. I n prepa ring these financial statements, the Trustees are required to: select Sultable accounti ng policies 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 Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that d isclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention a nd detection of fraud and other irregula rities. Auditor Burgis & Bullock were appointed as auditor to the company during the period. The auditors will be proposed for re-appointment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Disclosure of information to auditor 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 esta blish that the auditors are aware of that i nformation, The Trustees, report was approved by the Board of Trustees. J Jarman Trustee Date= 10
NEW DIRECTIONS (RUGBY) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW DIRECTIONS (RUGBY) LIMITED Opinion We have audited the financial statements of New Directions (Rugby) Limited Ithe 'Charity'l for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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, including Financial Reporting Standard 102 The Financial Reporting Standard opplicable in the UK ond Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure. for the ye3r 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 for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the finoncial statements section of our report. We are independent of the Charity in accordance with the ethical req uirements that are releva nt to our a udit 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 suff icient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounti ng in the prepa ration 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 Charity's abil ity to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities a nd the responsibilities of the Trustee5 Wlth respect to going concern a re described in the relevant sections of th is report. 11
NEW DIRECTIONS (RUGBY) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW DIRECTIONS (RUGBY) LIMITED Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's 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, except to the extent otherwise explicitly stated in our report, 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 misstated. If we identify such material incon515tencies 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 the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements; and the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not Vlslted by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosu res of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. 12
NEW DIRECTIONS (RUGBY) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW DIRECTIONS (RUGBY) LIMITED Responsibilities of Trustees As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of the Charity 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 necessa ry to ena ble the preparation of fi na ncial 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 Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going 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 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 conducted 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. Irregularities, including fraud, are instances of non-compliance with law5 and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We gained an understanding of the legal and regulatory framework applicable to the Charity and the industry in which it operates and assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Based on our understanding of the Charity and industry we identified that the principal risk of non- compliance with laws and regulations related to breaches of Health & Social Care Acts, Human Rights Act, Safeguarding, Mental Capacity Act, Health & Safety and Environmental Regulations, GDPR, Charities Act 2011, Companies Act 2006 and UK Employment Law. We also evaluated management incentive and opportunities for fraudulent manipulations of the financial statements. 13
NEW DIRECTIONS (RUGBY) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW DIRECTIONS (RUGBY) LIMITED Audit procedures performed included,. Reviewing returns made to Companies House, HMRC and the Charities Commission,. Reviewing board minutes for any evidence of breaches of laws and regu lations or fraudulent activity not otherwise disclosed to the aud itors,- Discussions with management, including consideration of known or suspected incidences of non- compliance with laws and regulation and fraud,. Identifying and assessing the design effectiveness of controls in management have in place to prevent and detect fraud; Challenging assumptions and judgments made by management in their significant accounting estimates and assessing if these indicate evidence of management bias; Reviewing the accounting records for large and unusual journal entries and testing any identified and in particular the rationale for any transactions outside the Charity's charitable activities- Reviewing the accounting records for large and unusual bank payments and testing any identified and in pa rticu lar the rationale for any transactions outside the Cha rity's charitable activities; Testing a sample of debit entries in the income & expenditure account to check they are bona-fide costs of the Charity and in line with the charitable objectives; Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compl lance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compl lance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.//www.frc.org.uk/auditorsresponsibil ities. This description forms part of our a uditor's report. Use of our report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Wende Hubbard FCCA (Senior Statutory Auditor) For and on behalf of Burgis & Bullock, Statutory Auditor Chartered Accountants 23-25 Waterloo Place Leamington Spa Warwickshire CV32 SLA Date= 14
NEW DIRECTIONS (RUGBY) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestricted Unrestritted funds funds general designated 2025 2025 Restricted funds Total Total 2025 2025 2024 as restated Notes Income from: Donations and legacies Charitable activities 1,916 30,800 32,716 6,885,031 212 29,243 5,572,616 3,250 6,885,031 212 Investments Total income 6,885,243 1,916 30,800 6,917,959 5,605,109 Expenditure on: Charitable activities 6,642,557 5,788 1,874 6,650,219 5,582,930 Total expenditure 6,642,557 5,788 1,874 6,650,219 5,582,930 Net income/(expenditure) 242,686 13,8721 28,926 267,740 22,179 Net movement in funds 242,686 13,8721 28,926 267,740 22,179 Reconciliation of funds: Fund balances at l April 2024 3,466,561 321,791 2,470 3,790,822 3,768,643 Fund balances at 31 March 2025 3,709,247 317,919 31,396 4,058,562 3,790,822 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 15-
NEW DIRECTIONS (RUGBY) LIMITED STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestricted Unrestricted funds funds general designated 2024 2024 as restated as restated Restricted funds Total 2024 as restated 2024 as restated Notes Income from: Donations and legacies Charitable activities Investments 19,615 5,572,616 3,250 9,628 29,243 5,572,616 3,250 Total income 5,595,481 9,628 5,605,109 Expenditure on: Charitable activities 5,572,171 7,010 3,749 5,582,930 Total expenditure 5,572,171 7,010 3,749 5,582,930 Net income/(expenditure) 23,310 2,618 13,7491 22,179 Transfers between funds 162,540 162,5401 iioo,0001 Net movement in funds 185,850 159,9221 1103,7491 22,179 Reconciliation of funds: Fund balances at l April 2023 3,280,711 381,713 106,219 3,768,643 Fund balances at 31 March 2024 3,466,561 321,791 2,470 3,790,822 16-
NEW DIRECTIONS (RUGBY) LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 as restated Notes Fixed assets Tangible assets 12 5,465,576 5,422,529 Current assets Debtors Cash at bank and in hand 13 1,164,618 416,057 755,580 574,827 1,580,675 1,330,407 Creditors: amounts falling due within one year 15 1523,4471 12,542,836) Net current a5sets/{liabilities) 1,057,228 11,212,429) Total assets less current liabilities 6,522,804 4,210,100 Creditors: amounts falling due after more than one year 17 12,464,242) 1419,2781 Net assets 4,058,562 3,790,822 The funds of the Charity Restricted income funds U nrestricted f unds - general U n restricted fund5 - designated 19 21 31,396 3,709,247 317,919 2,470 3,466,561 321,791 20 4,058,562 3,790,822 The fina I statements were approved by the Trustees on A Canal Trustee rola (Chairl Company registration number 02647131 (England and Wales) 17-
NEW DIRECTIONS (RUGBY) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 as restated Notes Cash flows from operating activities Cash generated from operations Interest paid Net cash used in operating activities 25 171,420 1189,148) 12,672 (172,7761 117,7281 1160, 1041 Investing activities Pu rchase of ta ngi ble fixed asset5 Investment income received 183,6681 212 11,177,921) 3,250 Net cash used in investing activities 183,4561 {1,174,6711 Financing activities Proceeds from new bank loans Repayment of bank loans 2,150,000 12,207,586) 1,189,917 155,6751 Net cash (used in)/generated from financing activities 157,5861 1,134,242 Net decrease In cash and cash equivalents 1158,7701 1200,5331 Cash and cash equivalents at beginning of year 574,827 775,360 Cash and cash equivalents at end of year 416,057 574,827 18-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information New Directions (Rugby) Limited is a private company limited by gua rantee incorporated in England and Wales. The registered off ice is Richmond Lodge. 27 Bilton Road, Rugby, Warwickshire, CV22 7AN. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Prior period restatement The prior year has been restated to correct certain designated funds that had been historical ly classif led as restricted funds in error,. support and governance costs that had not been apportioned over charitable activities; agency staff costs that had been incorrectly included in wages and salaries- operating lease commitments that were incorrectly disclosed, mortgage loan interest that had not been allocated to the correct charitable activity,- to include custodial assets held as appointee on behalf of services users previously not included,. irrecoverable bad debts not provided for and bank loans incorrectly shown as payable after five years and not correctly split between due within one year and after one year. The effect of the adj ustment to include custodial assets held as appointee on behalf of Service users is an increase in cash at bank brought forward of £82,448 as at the 31 March 2024, and an increase in other creditors for the same amount. The effect of the correction of certain designated funds is a reduction in restricted funds brought forward of £56,283 as at the l April 2024, a reduction in unrestricted funds brought forward of £265,508 as at the l April 2024 and an increase in designated funds of £321,791. The effect of the irrecoverable bad debt adjustment 15 a reduction in unrestricted reserves brought forward of £113,280 as at the l April 2024 and an increase in bad debt provision brought forward for the same amount. In addition there is a reduction in income for year ended 31 March 2024 of £113,280. 19
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policie5 (Continued) 1.3 Going concern At the time of approvi ng the f inancia I statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. At 31 March 2025, the charity had loan facilities totalling £2,568,057 which mature in July 2026. The Trustees a re confident that these facilities can be refinanced on sim ilar terms and therefore continue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their cha ritable objectives. Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.5 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 15 probable that income will be received, I ncome for charita ble activities is measu red at the fair value of the consideration received or receivable and represents amounts receiv2 ble for services provided. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent a55et. Grant income is recognised when the Charity is legally entitled to it after any performance condition5 have been met, the amounts can be measured reliably, and it is probable that income will be received. 20-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer econom ic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, incl udi ng support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributa ble to a single activity are apportioned between those activitie5 on a basis consistent with the use of resou rces. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Tangible fixed assets Tangible fixed assets are initially measured at Cost and subsequently measured at cost or va luation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful l ives on the following bases.. Freehold land and buildings Leasehold13nd and buildings Fixtures and f ittings Motor vehicles not depreciated period of the lease 250A on straight line basis 250A on straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the ca rrying value of the asset, and is recogn ised in the statement of fi nancia l activities. The trustees consider that the freehold buildings are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation wou Id not be material and therefore is not charged in the Statement of Fi nancial Activities. 1.8 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those a55ets have suffered an impairment loss. If any such i ndication exists. the recoverable amou nt of the asset is estimated in order to determ ine the extent of the impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid i nvestments with original maturities of three months or less, and ban k overdrafts. Bank overdrafts are shown within borrowings in current l iabi lities. 21
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.10 Financial instruments The Charity 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 financia l i nstruments. Fi nancial instru ments are recognised in the Charity's bala nce sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal ly enforceable right to set off the recognised amounts and there is an intention to settle on a net basis orto realise the asset and settle the liability simultaneously. Busicfinuncial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless 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 yea r a re not amortised. Basicfinancial liubilities Basic financial liabi lities, including creditors and bank loans a re 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 interest. 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 cou rse of operations from suppliers. Amounts payable are classified as current lia bilities 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. Derecognition offinancial liubilities Financial liabi lities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused hol iday entitlement is recogn ised i n the period in wh ich the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity Is demonstrably committed to terminate the employment of an employee or to provide termination benefits. -22-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumption5 are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recogn ised i n the period in which the esti mate is revised where the revision affects on ly that period, or in the period of the revision and futu re periods where the revision affects both current and future periods. Support cost allocation Support costs are allocated between the expenditu re categories of the Statement of Financial Activities on a basis designed to reflect the use of the resources. Costs relating to a particular activity are a Ilocated directly. Bad debt provision The charity makes an esti mate of the recoverabil ity of trade and other debtors. Th is involves assessi ng the likelihood of collection based on h istorical experience a nd specific knowledge of individual debtor circumstances. Actual outcomes may differ from these estimates. The bad debt provision at 31st March 2025 amounts to £190,580 {2024'. restated £113,2801. -23-
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NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies (Continued) Government grants Of the £30,800 grants received during the year, £800 were government funded. Income from charitable activities Unrestricted Unrestricted funds funds 2025 2024 a5 restated Residential care Residential services 1,930,877 1,127,323 Supported living Home care/Supported living 3,105,165 2,714,110 Respite care Respite care 314,928 277,858 Community choices network Day opportun ities 575,792 493,807 Supported living rentals Rental income 958,269 959,518 6,885.031 5,572,616 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Interest receiva ble 212 3,250 25-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities Residential Supported Respite care Community Supported care living hoices living network rentals 2025 Total 2025 2025 2025 2025 2025 Direct costs Staff costs Depreciation and impairment Other costs Rent Agency staff Mortgage interest Property maintenance and cleaning Rates a nd utilities Food and household 1,111,451 2,639,609 210,297 315,513 274,992 4,551,862 6,873 33,843 4,440 18,189 21,000 11,313 87,308 479,572 297,570 189,148 18,093 3,310 13,873 458,572 60,759 189,148 217,648 19,163 59,529 29,224 48,414 5,106 5,343 3,281 3,458 6,154 7,309 5,594 10,948 2,180 68,380 37,061 613 142,067 88,730 61,797 1,539,241 2,889,080 249,691 377,864 853,491 5,909,367 Share of support and governance costs (see note 71 Support 150,271 497,621 26,260 60,135 6,565 740,852 1,689,512 3,386,701 275,951 437,999 860,056 6,650,219 Analysis by fund U n restricted funds genera I Unrestricted funds - designated Restricted funds 1,682,150 3,386,401 275,951 437,999 860,056 6,642,557 5,488 1,874 300 5,788 1,874 1.689,512 3,386,701 275,951 437,999 860,056 6,650,219 26-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities (Continued) Previous year: Residential Supported Respite care Community Supported care living choices living network rentals 2024 2024 Total 2024 2024 2024 as restated as restated as restated a5 restated as restated as restated 2024 Direct Costs Staff costs Depreciation and impairment Other costs Mortgage interest 724,647 2,422,312 171,241 271,141 237,428 3,826.769 3,289 345,896 172,776 4,382 54,917 7,671 761,208 172,776 11,228 31,928 317,239 1,246,608 2,433,540 203,169 330,440 554,667 4,768,424 Share of support and governance costs (see note 71 Support 172,511 530,481 40,764 64,729 6,021 814,506 1,419,119 2,964,021 243,933 395,169 560,688 5,582,930 Analysis by fund U nrestricted funds - general U n restricted funds - designated Restricted funds 1,409,910 2.963.021 243,933 394,619 560,688 5,572,171 5,460 3.749 1,000 550 7,010 3,749 1.419,119 2,964.021 243,933 395,169 560,688 5,582,930 -27-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities 2025 2024 Staff costs Depreciation Other employment costs Health, safety and cleaning Rent, rates and utilities Insurance 452,139 29,308 28,868 16,119 14,039 49,224 9,071 4,572 75,379 16,035 3,181 5,589 37,328 388,098 45,526 45,619 34,670 14,732 32,012 10,346 18,384 74,597 24,155 4,510 6,259 25,260 90,338 Property costs Motor and travel expenses Computer, telephone and postage Marketi ng a nd advertlsing Bank interest 5undrv Governance costs Other cost5 740,852 814,506 Analysed between: Residential care Supported living Respite care Community choices network Supported living rentals 150,271 497,621 26.260 60,135 6,565 172,511 530,481 40,764 64,729 6,021 740,852 814,506 Support costs a re allocated between the expend iture categories of the Statement of Financia l Activities on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated di rectly. Net movement in funds 2025 2024 The net movement in funds is stated after cha rging/lcrediting): Fees paya ble for the a udit of the charity's financial statements Depreciation of owned tangible fixed assets 12,750 40,621 4,620 53,197 -28-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Charity during the year. 10 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Senior managers Care managers Administrative staff Support staff 183 135 Total 194 150 Employment costs 2025 2024 as restated Wages and salaries Social security costs Other pension costs 4,525,508 386,768 91,725 3,841.711 296.799 76.357 5,004,001 4.214,867 Year ended 31 March 2024 employment costs have been restated to re-allocate agency staff costs. As at 31 March 2025, there were 14612024.. 1251 full time equivalent employees. The number of employee5 whose annual remuneration was more than £60,000 15 as follows: 2025 2024 Number Number £70,001 to £80,000 £80,001 to £90,000 -29-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ID Employees {Continuedl Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensation 215,380 174,823 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tangible fixed assets Freehold land Leasehold land and buildin85 and buildings Fixtures and Motor vehicles rittings Total Cost At l April 2024 Additions 5,307.007 8,600 44,025 213,372 49,363 61,854 5,626,258 25,705 83,668 At 31 March 2025 5,315,607 44,025 262,735 87,559 5,709,926 Depreciation and impairment At l April 2024 Depreciation charged in the year 38,809 4,440 114,526 29,309 50,394 6,872 203,729 40,621 At 31 March 2025 43,249 143,835 57,266 244,350 Carrying amount At 31 March 2025 5,315,607 776 118,900 30,293 5,465,576 At 31 March 2024 5,307,007 5,216 98,846 11,460 5,422,529 -30-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 995,901 636,167 700 168,717 118,713 1,164,618 755,580 14 Loans and overdrafts 2025 2024 a5 restated Bank loans 2,568,057 2,625,642 Payable within one year Payable after one year 103,815 2,464,242 2,206,364 419,278 The bank loans are secured on Richmond Lodge, 27 Bilton Road, Rugby CV22 7AN, Poppy Place, 1-3 Alfred Street, Rugby CV21 2EL, Daisy Court, IA Market Street, Rugby CV213HG and 30 Vicarage Road, Rugby CV22 7AJ, together with a fixed and floating charge over al I the charity's other assets. The loan facilities mature in J uly 2026. The trustees are conf ident that these facilities can be refina nced on similar terms. Interest was paid on the loan during the year amounting to £189,14812024: £172,7761. 31
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Creditors: amounts falling due within one year 2025 2024 as restated Note5 Bank loans Other taxation and social security Trade creditors Other creditors Accruals and deferred income 14 103,815 74,264 58,314 104.121 182,933 2,206,364 69,762 28,027 87.901 150,782 523,447 2,542,836 16 Cash held on behalf of service users Included within other cdItorS is £85.79612024: £82,449) of cash at bank held in bank accounts in the name of charity but operated in the charity's capacity as appointees of certain service users. 17 Creditors: amounts falling due after more than one year 2025 2024 as restated Notes Bank loans 14 2,464.242 419,278 18 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 91,725 76,357 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 32-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted fvnds The restricted funds of the charity comprise the unexpended balances of donations and grants held subject to specific conditions by donors as to how they may be used. At l April 2024 as restated Incoming resources Resources expended Transfers At 31 March 2025 Transport fund Respite hoist fund Vehicle fund Minibu5 fund 595 595 5,000 5,000 1.875 11,874) 25,800 25,800 2,470 30,800 {1,8741 31,396 Previous year: At l April 2023 as restated Incoming resources Resources expended as restated Transfers At 31 March 2024 as restated as restated as restated Transport fund Vehicle fund Daisy Court fund 595 5,624 loo,000 595 1,875 (3,7491 {ioo.000) 106,219 13,749) 1100,0001 2,470 Restricted and designated funds funds brought forward have been reclassifed to reflect the correct nature of these funds. 33-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Unrestricted funds- designated These are unrestricted fu nds which are material to the Charity's activities. At l April 2024 Incoming resources Resources expended Transfers At 31 March 2025 as restated Other immaterial funds Day opportunities fund Respite fund Hardship benevolent fund Poppy Place fund Development and maintenance fund 7,893 5,745 10,189 11,651 20,805 501 815 600 (3001 8,094 6,560 10,789 11,651 15,317 {5,4881 265,508 265,508 321,791 1,916 15,7881 317,919 Previous year: At l April 2023 as restated Incoming resources Resources expended as restated Transfers At 31 March 2024 as restated as restated as restated Other immaterial funds Day opportunities fund Respite fund Hardship benevolent fund Poppy Place fund COVID recovery fund Development and maintenance fund 8,878 5,795 1,076 11,651 26,265 62,540 15 11,0001 15501 7,893 5,745 10,189 11,651 20,805 500 9,113 15,4601 162,5401 265,508 265,508 381,713 9,628 17,010} 162,5401 321,791 Other immaterial funds consist of six balances, being, communal assets fund, hardship benevolent fund, Queens Court fund, Kings Court fund, Gateway fund, supported living garden fund and Daisy Court fund. -34-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 21 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated f unds wh ich have been set aside out of unrestricted funds by the trustees for specif ic purposes. At l April 2024 as restated Incoming resource5 Resources expended Transfers At 31 March 2025 General funds 3,466,561 6,885,243 16,642,557) 3,709.247 Previous year: At l April 2023 Incoming resources Resources expended Transfers At 31 March 2024 as restated as restated General funds 3,280,711 5,595,481 15,572,171) 162,540 3,466,561 22 Analysis of net a55ets between funds Unrestricted Unrestricted funds funds general designated 2025 2025 Restricted funds Total 2025 2025 At 31 March 2025: Tangible assets Current assets/lliabilities} Longterm liabilities 5,460,988 712,501 12,464,242) 4,588 313,331 5,465,576 1,057,228 12,464,242) 31,396 3,709,247 317,919 31,396 4,058.562 -35-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 22 Analysis of net assets between funds (Continued) Unrestricted Unrestricted funds funds general designated 2024 2024 as restated Restricted funds Total 2024 2024 as restated as restated as restated At 31 March 2024: Tangible assets Cu rrent assets/lliabilitiesl Long term liabilities 5,411,069 11,525,230} 1419,2781 9,586 312,205 1,874 596 5,422,529 11,212,429) 1419,2781 3,466,561 321,791 2,470 3,790,822 23 Operating lease commitments Lessee The operating lease payments represent rentals payable by the company for certain of its properties. Leases are negotiated for an average term of 10 years and rentals are fixed with rent reviews taking place on average every 3 years. At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. As restated 2024 2025 Within one year Between two and five years In over five year5 458,930 1,585,278 511,788 458,930 1,585,248 650,974 2,555,996 2,695,152 Operating lease commitments are restated to correct an error disclosed within the f inancial yea r ended 31 March 2024 amounts falling due between two and five years. 36-
NEW DIRECTIONS (RUGBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Related party transactions There were no disclosable related party tra nsactions during the year12024 - none). 25 Cash generated from operations 2025 2024 as restated Surplus for the year 267,740 22,179 Adjustments for: Investment income recognised i n statement of f inancia l activities Depreciation and impairment of tangible fixed assets Interest paid 12121 40,621 189,148 13,2501 53,197 172,776 Movements in working capital: {Increasel i n debtors Increase/ldecreasel in creditors 1409,038) 83,160 1190,2061 142,0241 Cash generated from operations 171,419 12,672 26 Analysis of changes in net {debt)/funds At l Aprll 2024 as restated Cash flows At 31 March 2025 Cash at bank and in hand 574,827 1158,770) 416,057 Loans falling due within one year Loan5 falling due after more than one year 12,206,364) 2,102,549 1103,8151 {419,2781 12.044,9641 12,464,242) 12,050,815) 1101,185) 12,152,000) 37-