Charity registration number 1006024 Company registration number 02609389 {England and Wales) DELPHSIDE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DELPHSIDE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees M J Albion W H Devling Dr B J Finlayson P Harrison C A McNamara V B Welsh Senior Managemont Team P Jones - Registered Manager M Mccabe- Clinical Manager J Dunn- Finance Manager Secretary P Jones Charlty number lo024 Company number 02609389 Reglstered offic8 Avondale Mental Health Centre 11 Sandstone Drive Whislon Prescol Merseyside L35 7LS Audltor Xeinadin Audit Limited 2 Hilliards Court Chesler Business Park Chester Cheshire CH4 9QP Bankers Bank of ScollarKI Community Banking St Andrews Square EdinbLrrugh Midlolhian EH2 2YR
DELPHSIDE LIMITED CONTENTS Page Trustee's report Independent audilor's report statement of finaneial activities 10 8alan¢e sheet 11 statement of cash flows 12 Not8S to the financial slatements 13-23
DELPHSIDE LIMITED TRUSTEE'S REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their annual report and financial slalemenls for Ihe year ended 31 March 2024. The financial stalemenls have been ppared in accordance with the accounting policies sel oul in note 110 Ihe rinancial slalemenls and comply wilh the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities-. Stalernenl of Recommended Practice applicable to charities preparing thèir accounts in accoidance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)" leffeclive 1 January 2019). Objectlves and actlvities This charity objectives are to relieve mentally ill OT infirm persons by the provision of accommodation and other assistance in order thal they might be rehabilitated and resellled in the community. The charity aims lo achieve these objectives by tailored aclivilies and support. strategies for achieving aims and objectives To acquire suitable freehold or leasehold premises for the establishment of a home for the beneficiaries To maintain, equip, improve carry on and adminis18r such a home for the care of Ihe beneficiaries To employ staff lo allend, train, and educate the beneficiaries (residenls), and lo accept help, assistance and services from such other persons as the charity may deem Capable of furthering the objects of Ihe charily To make all aSonable provisions for the payment of wages, salaries and pensions of employees of the charily To undertake any charitable trust Ihat may lawfully be undertaken to further the objectives of the charity To appoint TTuslees lo act in Ihe interests of the charity lor the safely of any property given or held upon trust for charitable purposes, Crileria usod for assessing success Review the records of the care provided lo the residents both in relation to personal records and also in relation to thè maintenance and equipment ofthe home. Determine the records of Ihe numbers of staff employed together with their responsibilities and make referen in the individual care records of the sidentS to demonstrate the achievement of Ihe Gharily objectives. Maintain payroll records and details of job descriptions and conlracls of employment issued lo the staff. Ac¢ess the regular Information bulletins issued by the Charity Commission and check Ihal charily procedures follow any advice issued. Ensure Ihat the number of Trustees during the review period never falls below 3. The Irustees have paid due regard lo guidance issued by the Charity Commission in deciding what aclivilies the charily should undertake. Signfficanl activili8s und8rt8kgn and how they ¢onlribule lo th8 achievement ol Iho charilys aims and objectlV8S Close attention to the Care Quality Commission (CQC) essential standards for nursing and car8 homes. This ensures Ihe continuance of the home. Holding regular discussions with approved social workors (ASW) and commissioning teams, concerning the needs of the residents. This ensures Ihe home is fil for purpose and able lo meel needs. Lislening lo the residents and Iheir families to ensure they are happy with the care piovid&d. This ensures good feedback to the staff providing care for the residenls. enhanced by forfflal feedback request5. Di5CUSSlOnS With the local authorilylhealth representatives {commis5ioneis) over the levels of financial support they will make for the Tesidenls within the home. Understanding of the fInanS helps the continuance of Ihe home, Maintaining good relalionships with external professional partners such as hospital, GP doctors, Care Home Liaison and Urgent care teams, dislricl nurses elc. when resident5 iequire medical attention and 5UPPOrt. Resident's confidence in Iheir caie is thus maintained, and the servi5 objeGlive lo help those residents in their care achieved. Secure and ensure Grant monies available for the control of Infection are utilised and allocated as per set criterla and that these are for the expiess use in providing a safe environment and supporting the wellbeing of residents and staff at Ihe service.
DELPHSIDE LIMITED TRUSTEE'S REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievemenls and perfomiance Significant aGtivili8s and 8chievemenls against objeclives Delphside Ltd {operating as Avondale Mental Healthcare Cenlre) continues to provide care and acGommodalion for persons wilh longer term mental health problems. Delphside Limited works closaly with CliniGal Commissioning Groups (CCG'S) and local authorities (MBC) to identify individuals who would benefit from a period of residenGe at the home. Where possible the objective is to subsequently re-integrale such pe150ns back into their local community. Delphside Limited Regislered with C.Q.C. under the Heallh and Social Care Act 2008 (Regulated Aclivily) Regulalions 2010 and subsequenl Health Care Ad 2022. Delphside Limited continued to provide activities and setvices for persons identified as suitable for pl8men1 at Avondale during 2023124. Central to thal activity is the provision of accommodation for persons who require nursing or personal care, the Irealment of disease, disorder or injury. That service was delivered in accordance with Ihe essential standards demanded by C.Q.C. and was overseen by Miss Paula Jones as th8 Registered Manager and Mrs Margaret Janel Albion as Nominated Individual. During the Teview period the Charity was registered wilh the CQC for the provision of 54 places within the home. Places are filled as a result of requests ASW make upon the home manager to assess the suitabillly of people for plaMent. Should the assessment indicale a likely positive oulcome, a place is offered. The costs of the placement are determined by the assistance likely to be needed. Fee ral88 in relalion lo the main commissioning aulhoTiIy'5 funding were uplifted by a small percentage for standard rates and the service continued to provide suilable care and services lo its charges. Having secured a grant of £100,000 (from OLC) the service undertook significant work to upgrade external accessibilily in the form of upgradinglwidening walk ways, provision of usable gardening and growing are8s for those less able bodied elc. A planned social hub was pul on hold followin9 the company providing this going in to receivership, which caused a loss to the service of the deposit on that unil, funded from the grant monies. Following further approach lo OLC this part of the project has gained additional funding and work planned should progress in 2024. Work with commissioners in KMBC resulting in a upgrade of the Amber unit with a vlew lo potential changed usage re lype of ¢lienlal thal could beller use Ihal area, allowing wider support of dementia lype needs and allowing potential for a further income slream in future. The $8Nice continued lo hold the highest Tating of Outstanding following CQC inspection in January 2022. This saw the service remaining as one of only three such service provid6rs on Merseyside holding the Outstanding rating and the only seNice in Knowsley in Mental Heallh care lo achieve this. This has meanl Ihe service ha5 remained in a favourable position. Following Ihe Service's work with the local Quality team previously the service remains Ihe go lo setvice for mental health Gare and the provision of extra dementia care provision has been looked at following LA approach.. The impact of the cost of living and inflation wa5 fell by the service. but managed with careful review of costings in some areas, such as rAtering supplies, housekeeping and wilh revtew of utility conlract5. Changes to staffs salaries and Living wage were planned for and help in seIng a suilably skilled and staffed seice during the period.
DELPHSIDE LIMITED TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial revlèw The financial results for Ihe year are shown in the Slalemenl of Financial Activilies. Income for the year has increased by £226,556 10 £2,566.517 from £2.339.961. Expenditure has increased by £64.815 to £2,465,209 from £2,400,394. This indudes £100,000 of reslricled income which has not been fully expended in the year and as such is held in reslricted reserves. The nel surplus in the year was £101,308 in comparison lo a deficit of £60,433 in 2023. This has resulted in total funds carried forward at 31 March 2024 of £1,009,072 in comparison to £907.764 at 31 March 2023. All funds carried forward are unrestricled. with the exception of £87,940 from Oliver Lymes Charity. The charity does have a restrictèd asset of £1,100,000 al 31 hhar¢h 2024, in respect of the property, however an associated loan of the same amount is also held. R8seNgs policy The Councll of Management maintains a reserve fund. Historically the level has been belween two and four months, exp8ndilure costs for Avondale Mental Healthcare Cenlre. The Council have found a reseNe lo be necessary to cover the effects of fluclualing levels of occupancy rales and necessary expendilure as the building ages. This was Teviewed and uplifted lo a reserve that will cover up lo a six month period if achievable and was determined due lo changes brought about by Pandemic and subsequent crisis in the NHS, Social care system, National living wage rises etc, areas which are likely to pose ongoing issues for care services. The freely availab18 reserves of the Charity increased by £99,195 and tolalled £603.605 (2023 - £504,410). PrinGip81 funding sources The Charity's principal funding comes from the following: Hallon and Sl Helens Clinical Commissioning Group Knowsley Clinical Commissioning Group Sl Helens MBC Knowsley MBC Warringion MBC Liverpool MBC Hertfordshire M8C Cheshire and Wirral Inv8Stment policy and objeclivgs Delphside has the power under ils Memorandum and Articles to make any investment that ils Council of Management sees fit. Funds are invested in cash based deposits to produce reasonable incorne andlor capital gain over lime. Plans for future pgriods Trustees lake heed of the Charily Commission advice on the prevention of fraud by employeas. Fidelity guarantee insurance is in place. as are internal checks and controls. Trustees look towards how Governrnenl funding policies impact on local aulhorities and NHS Trusts, This leads lo constanl economies being made by both the charitable and private sectors as monies for placements in care homes is reduced. Trustees have seen a change in the needs of individuals being put fotward for assessment. At the same lime standard facili118S Within homes are increasing. As a se[Ce Avondale has looked consislenlly at meeting all slandards and exceed Ihese when possible to ensure the service remains the "go lo" service for the provision of mental health care in the Gommunily setting. The awards of Oulslanding rating from CQC and Excellent from PAMMS, eviden$ the setvices work in maintaining and exceeding those standards, which along with ongoing referrals for Gomplex mental heallh placements at Ihe service evidence Ihe Seice holds a strong position as a Provider of mental health nursing care.
DELPHSIDE LIMITED TRUSTEE'S REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Links with Commissioners and in particular Commissioners in the Knowsley area who have been the responsible Commissioning body for the service throughout have remained good. The Service has also fotged links for provision of complex care packages further afield and will conlinue lo do so. The service rernains fixed of Ils position Ihal clarity on serwce terms regarding fees, contractual obligalions and the rights of the service lo set those at reasonable rates is a must. That being neGessary lo allow suitable service provision. whilst mainlaining financial viabilily and help secure fulure service markel position. The service continues in is collaborative working with Heallh Education England, Cheshire and Mers8yside Workforce rgsilience team, Enhanced Health for Care homes and is looking lo expand its collaborative working in future, for the benefil of the service in terms of furth8r educalion for supporling fulure nurses in lo Ihe fi8ld of mental health. Slructur8. governanG8 and management Governing documenl and constilution The Charity Is Gonlrolled by its governing document, a deed of trust. and conslilules a limited company, limited by guarantee, as defined by Ihe Companies Act 2006. The charily has no share capital, being a charity limited by guarantee under clause 6 of ils Memorandum of Association, with each member agreeing to conlribule £1 in th8 event of it being wound up. The number of members registered al 31 March 2024 was 7. Council of managemènt The charity may at any lime appoint a member of the Council of Management; Ihere is no maximum limil on the number of members bul there should be a minimum of three. At the Annual General Meeling one third of the members are eligible for re-election. The following served as twstees and direclors of the charitable Company during the year: M J Albion L Barlow W H Devling Dr B J Finl8yson P Harrison C A McNamara V B Welsh (Resigned 1 April 2024) None of the Irustees has any beneficial interest in the charity. All of the Iruslee5 are members of the charity and guafanlee to contribute £1 in the èvent of a winding up. Organisalion81 slruclure In accordance with the Memorandum and Articles of Association. the Council of Managemenl governs Ihe Charity. The Council meets at least bi-monthly to consider reports from the officers of the charitable company. Agenda and supporting documenlation are senl to the Council at least 7 days prior to the meeting.
DELPHSIDE LIMITED TRUSTEE'S REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Induction and training olnew Irustges New Trustees are inducted and appoinled following due diligence in relation to Fit and Proper Persons requirements as per HMRC. Charity Commission and CQC guidance. In order to Ènsure good financial govemance of the Charily. annually Ihe Trustees requiie the General Manager to produce a financial plan for the coming 12 months. This plan contains a budget of revenue expendilure and income. Also the General Manager PTodu¢es a requirement for capital expenditure. This is considered alongside the existing cash position. The financial plan is the principle document that the Trustees rely upon during the year. They receive monlhly management accounts on an income and expendilure basis, and also a monthly cash analysis. Trustees task the General Manager lo produce a business plan. This is a docLtment that is extensively revi&wed by the Truslees every years. Between Ihese dates il is updated by the General Manager. 11 covers the risks wilhin th8 insurance policy for loss of income following extensive physical damage lo the home. It also explains what conlingency provision is made lo safeguard Ihe exisling beneficiaries should the home cgase to Operate due lo a failure of any of the operational systems due to any cause. Business conlinuily plan for the seNice is also produced and updated annually or when influencing factors, such as Covld dire¢l changes. Regulatory risk is managed by Ihe home meeting essential Ca standards as required by the Care Quality Commission (CQC). Arrangemenls for setting the p8y and remuneralion of key manag8mgnt personnel. Trustees have established a Remuneration Committee. This is guided by the Chair. The Committee meets annually and considers salaries for key managers against what is known in the local area. Additionally, there is a performance related pay scheme {PRP) in operation. TTuslees delermine the total amount lo be dislribuled. Distribution is against sel objectives. All employees are eligible to be considered against the set criteria for the award of PRP. Charilable status The charity was appointed and registered as a Charity by the Charity Commissioners for all purposes on 15th November 1991 (Certifi¢ate No. 1006024). Patlenl's money Al 31 March 2024, the charity held funds amounting to £76.488 {2023'. £51,567) on b8h81f of the patients of Avondale Mental Healthcare Cenlre.
DELPHSIDE LIMITED TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 ststement of trustee's responslbilitles The trustees, who are also the directors of Delphside Limited for the purpose of company18w, are responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards {United Kingdom Generally AccEpted Accounting Practice). Company Law requires the truslees to prepare financial statements for eaGh financial year which give a true and fair view of the state of affairs of the charity and of Ihe incoming resources and application of resourc8s. including the income and expenditur8, of the charitable company for that year. In preparing thes8 financial slatemenls, the trustees are required to- select suitable accounting policies and then appty Ihem consistentty: observe the methods and Principles in Ihe Charities SORP: make judgemenls and estimates thal are reasonab18 and prudent- State whether applicable UK AcGounling Standards have been followed, subj'ect lo any malerial departures disclosed and explained in the financial slalemenls., and prepare the financial slalemenls on Ihe going concern basis unless il Is inappropriate lo pr8sume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting re¢ords that disclose with reasonable accuracy al any time the financial position of the charily and enable Ihem lo ensure that Ihe financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charily and hence for taking reasonable steps for Ihe prevenlion and deleclion of fraud and other iireguSarilies. Audltor In accordance wilh the company's articles, a resolution proposing that Xeinadin Audit Limited be reappoinled as auditor of Ihe company will be put at a General Meeting. Dlsclosure of infomiatlon to audltor Each of the trustees has confirmed thal there is no informallon of which they are aware which is relevant lo lh8 audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant informalion and lo establish that the auditor is aware of such information. The Iruslee's report was approved by the Board of Trustees. M J Albion Trv8teo 11 October 2024
DELPHSIDE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DELPHSIDE LIMITED Opinlon We have audited the financial slatemenls of Delphside Limited (the 'charity') for Ihe year ended 31 March 2024 which comprise the slalement of financial activilies, the balance sheel, the stalemenl of cash flows and notes to Ihe financial statements, including significant accounting policies. The financial reporting framework that has been applied in their prepaialion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Slandard applic8blo in the UK and Republic of ItBJand (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- give a true and fair view of the slate of the chaTilable company's affairs a5 al 31 March 2024 and of ils incomlng resources and applicatn of resources. including ils income and expenditure, for the year then ended", have been properly prepared in accordance with Unlted Kingdom Generally A¢cepled Accounting Practice., and have been prepared in accordance wllh the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audil in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibililies under those standards are further described in the Auditoffs sponsibl11118s for Ihe audil of the linancial stalemenls seclion of our report. We are independent of the charity In accordance with the elhical requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe Ihat the audit evidence we have obtained is sufficienl and appropriate lo provide a basis for our opinion. Con¢lu61ong relating to golng concern In auditing ihe financial statements, we have conduded that the trustee's use of Ihe going conc8rn basis of accounting in the preparalion of the financial slal8menls is approprtal8. Based on the work we have performed, we have not identified any malerial uncertainlies relating lo events or conditions that, individually or collectively, may cast significant doubt on the Charity's abilily lo continue as a going concern for a period of al least twelve month5 from when the financial statements are aulhoris8d for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the relevant seclions of this report. Other Informatlon The other infomialion comprises the information included in the annual report other than the financial statements and our audilor's report thereon. The Iruslees are responsible for Ihe other information contained within the annual report. Our opinion on the financial slatemenls does not cover the other infortnation and, except lo the exlenl otheiSe explicitly staled in our ieport. we do not express any form of assurance conrlusion thereon. OUT responsibility is lo read the other informalion and. in doing so, consider whelhèr the other information is mateiially inconsislenl with the financial slalemenls or OUT knowledge obtained in the course of the audil, or olherwise appears to be materially misstated. If we identify such malerral inconsistencies or apparent material misslalements, we are required lo determine whether this gives rise to a malerial misstalemenl in Ihe financial slalements themselves. If. based on the work we have performed, we conclude that there is a malerial misslalement of this other information, we are required lo report Ihat fact. We have nothing lo report in this regard. Opinlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the wotk undertaken in the course of our audit.. the infoimalion given in the trustee's 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 consisl6nl with the financial slatemenls-, and the directors, reporl included within the trustee's report has been prepared in accordan¢e with applicable legal requiremenls.
DELPHSIDE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DELPHSIDE LIMITED Matters on which we are required to report by èxcoption In the lighl of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not idenlified material misstatements in the directors, report included within the trustee's report. We have nothin9 to report in respecl of the following matters in relation to which the Companies Act 2006 requires us lo ieporl lo you if, in our opinion.. adequale accounting records have not been kepl, or returns adequate for our audit have not been received from branches not visiled by us,. or the financial statements are not in agreement with the acLounling records and returns., or ertain disclosures of trustees, remuneration specified by law are nol made- or we have not received all the informalion and explanations we require for our audit,. or the Iruslees were not enlitled lo prepare Ihe financial statemenls in accordance with Ihe small companies regime and lake advantage of the small comparbies, exemptions in preparing th8 trustee's report and from the requirement lo prepare a slrategic report. Responslbilities of trustees As explained more fully in the statement of Iruslee's responsibilities. the Irustoes, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view. and for such inlernal conlrol as the Iruslees determine is neSsarY lo enable Ihe preparation of financial slalemenls that are free from malerial misstatement, whether due to fraud or error. In preparing the financial statements, Ihe Iru5tees are responsible for assessing the charity's abilily to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounling unless the truslees eilher intend to liquidate th8 charitable company or to cease operations, or have no 811$11¢ alternative bul to do so. Audltorfs responslbllltles for tho audlt of the financlal stalemont8 Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are fre8 from malerial mi5slalement, whelhef due lo fraud or error. and lo issue an avdiloT'S report that Snclud&s our opinion, Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance wilh ISAS (UK} will always detecl a material misslalement when il exists. Misslatemenls can arise from fraud or error and are considered material if. individually or in the aggregate, Ihey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, outlined above, lo detect malerial misslatemenls in respect of irregularities, Including fraud. The exlent to which our procedures are capable of detecting irregularilies, including fraud is delailed below.. Enquiry of management and Ihose charged with governance around actual and potential litigation and claims- Reviewing minutes of meetings of those tharged wilh g0veman. Perfomiing audit work over the risk of managemenl override of conlrols, including lesling of journal entries and other adjustments for appropriateness, evaluating Ihe business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias,. Enquiry of management and those charged wilh governance lo identify any instances of non-compliance with laws and regulations.
DELPHSIDE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DELPHSIDE LIMITED The potenlial effect of these laws and regulations on the finan(4al slalements varies considerably. Firstly, the Company is subject to laws and regulations Ihat direclly affect the financial statements induding financial reporting legislation (including related companies legislation). dislribulable profi15 legislalion and taxation legislation and we assessed the extent of compliance with Ihese laws and regulations as part of our procedures on the related financial slalemenl items. Secondly, the Company is subject lo many other laws and regulations where Ihe consequence of non-compliance could have a material effect on amounts or disc105ures in the financial slalemenls, for instance the imp05ilion of fines or liligalion or the loss of the Company's linse to operate. Auditing standards limit the required audit procedures to identify non-complian wilh these laws and regulations lo enquiry of the directors and other management and inspection of regulatory and legal correspondence. if any. Therefor8, if a breach of operational regulations is not disclosed lo us or evident from relevanl correspondence, an audit will not detect that breach. Because of the inherent limilalions of an audit. Ihere is a risk that we will not delecl all iTiegularilies, including those leading lo a rnalerial misslatemenl in the financial slalemenls or non-oompliance with regulation. This risk increas8s the more that compliance with a law or regulation is r@moved from the evenls and transactions flected In th8 financial slalements, as we will be less likely lo become aware of inslances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepiesenlalion. We communicate with those charged with governance regarding. among other matters, Ihe planned scope and timing of the audit and significant audit fi'ndings, including any significanl deficiencies In internal conlrol that we id8nlify during our audit. No Instances of material non-compliance were idenlified, although the prospect of detecting Irregularilles, including fraud, is inherently difficull. This is due lo., difficulty in delecling irregularities., limits imposed by th@ effectiveness of the entity's controls,. and the nature, liming and exlenl of the audit procedures performed. Irregularities as a Tesull of fraud are inherenlly more difficult lo detect than Ihose that resulting from error. Despite Ihe audil being planned and performed in accordance with ISAS (UK), there is an unavoidable risk that material misslalemenls may not be delacled. A further descrlplion of our responsibilities is available on the Financial Reporting Council's websile al: hllps'.11 www.frc.org.uklauditorsresponsibililies. This descriplion forms part of our audilo¢s report. Use of our report This report is made solely lo the charitable company'5 members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so Ihal we might slate to the charitable company's members those matters we are required to stale lo Ihèm in an auditorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accepl or assume responsibility lo 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 formèd. Stephanie Baker BAIHons) ACA (Senlor Statutory Auditor) for and on behalf of Xeinadin Audit Limited 11 October 2024 Chartered Accountants Statutory Auditor 2 Hilliards Court Chester Buslness Park Chester Cheshire CH4 9QP
DELPHSIDE LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Roslrlcted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable aclivilies Investments Other income 1,937 2.426,317 5,170 33,093 100.000 101,937 2.426.317 5,170 33,093 10 2,279.548 1.013 28.891 10 30,499 2,310,047 1,013 28,891 Total income 2.466,517 100.(KIO 2,566,517 2.309,462 30,499 2,339,981 Expenditure on: Chafilable activities 2,422.650 42,559 2,465,209 2,400,394 2.400,394 Total expendlture 2.422,650 42,559 2,465,209 2.400,394 2.400,394 Net Incomellexpenditure) and movement In funds 43.867 57,441 101,308 (90,932) 30,499 (60,433) Re¢on¢lllatlon of funds: Fund balances at 1 April 2023 877,265 30.499 907,764 968,197 968,197 Fund balances at 31 March 2024 921,132 87,940 1,009,072 877.265 30,499 907.764 The statement of financial activilies indudes all gains and losses recognised in the year. All income and expendlture derive from Continuing activilies. 10-
DELPHSIDE LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 1.505,467 1,472,855 Current assets Debtors Cash al bank and in hand 13 122.472 669,035 60,015 636,106 791.507 Creditors: amounts falling due withln one year 696,121 14 (187,902) (161,212) Not Current assets 603,605 534,909 Total a8sets less currènt Ilabilities 2,109,072 2,007,764 Credltors: amount8 lalllng due after more than ong year 15 (1.1CKJ,000} 11,100,000) Net assets excluding penslon liabllity 1.009.072 907.764 Net assets 1,009,072 907,764 The funds of the charity Reslricled income funds Unrestricted funds 17 87,940 921,132 30,499 877,265 1.009,072 907,764 The financial statements were approved by the trustees on 11 October 2024 M J Albion Trustee Company registration number 02609389 {England and Wales} 11
DELPHSIDE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml(absorbed by) operation5 22 90,241 (11,742) Investing activitles Purchase of tangible fixed assets Investment income received (62,482) 5,170 {36.496) 1,013 Net cash used In investlng actlvltie8 (57.312) (35,483) Net cash used In financlng activltles Net Increasèlldecrease) in cash and cash equivalents 32,929 (47,225) Cash and cash equivalents at beginning of yeal 636,106 683,331 Cash and cash equivalents at end of year 669,035 636,106 12-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty informatlon Delphside Limited is a private company limited by guarantee incorporated in England and Wales. The regislered office is Avondale Mental Health Cenlre, 11 Sandstone Drive. Whiston, Prescot, Merseyside, L35 7LS. 1.1 Accounting ¢onventlon The financial statements have been prepared in accordance with the charity's goveming document, Ihe Companies AGt 2006, FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland" {"FRS 102°) and the Charities SORP "Accounting and Reporting by Chaflties.. Slalemenl of Recommended Practice applicable lo charities preparFng their accounts in accordance with the Fir)ancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Th8 charity is a Public Benefit Entily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional ojrrency of the charity. Monetary amounts in thes8 financial statements are rounded to the nearest £. The financial statements have been prepared under the hislorical cost convention. The principal accounting policies adopted ar8 sel out below. Delphside Limited is a registered charily in England. In the event of lh8 charity being wound up, the liability in the r8SPeCt of guarantee is limited to £1 per member of the charity. The address of the registered office is given in the report lo the Iruslees. The nature of charily's operations and principle aclivilies is to relieve mentally ill or infirm persons by the provision of accommodalion and other assistance in order that they mighl be rehabilitated and resellled in the community al large. 1.2 Golng concern At the lime of approving the financial slalements. the trustees have a reasonable expeclalion thal the charity has adequate resources lo continue in operational exislence for the foTeseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statement5, 1.3 Charitable funds Unreslricled funds are available for use at th8 discretion of Ihe trustees in furtherance of their charitablè objectives. Reslricled funds are subj8cl to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sel oul in the notes to the financial slalemenls. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been met. the amounts can be measured reliably, and il is probable thal income will be received. Cash donations are recognised on reiPl. Other donalions are recognised once the charity has b@en nolified of the donation, unless performance conditions require deferral of the amount. InGome tax recoverable in relation to donations reIVed under Gift Aid or deeds of covenant is recogni5ed at Ihe lime of Ihe donation. Legacies are rècognised on receipt or otherwise if the tharity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If Ihe amount is not known, the legacy is treated as a contingent asset. The building from whlch the company operates were initially furnished by St Helens & Knowsley Health Aulhorily. All gifls in kind are not shown in the financial statemonls due to the difficulty in quanlifying them. 13-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Continuedl 1.$ Expendlture Expenditure is recognised once there is a legal or constructive obligalion to Iransfer economic benefit to a third party, it is probable that a Iransfer of economic benefi1$ will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activily. The costs of each activily are made up of the lolal of direct cosls and shared costs, including support Costs involved in undertaking each aclivily. Direct cosls attributable to a single activily are allocated directly to Ihal activity. Shared costs which conlribule lo more than one activity and support costs which are not attributable to a single activily are apportioned between those activities on a basis consistent with Ihe use of resources. Central slaff cosls are allocated on Ihe basis of lime spent, and deprecialion charges are allocaled on the portion of the asset's use. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuatlon, net of depreciation and any impairment losses. Depre¢lation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases- Fraehold land and buildings Fixtures and fittings Computers Motor vehicles Belween O & 150h Slraight Line 7 year straight line 3 year straight line 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between th8 sale proceeds and the carrying value of the asset, and is recognised in the stalement of financial a¢livilies. 1.7 Impaimient of flxed assets At each reporting end dale, the chaiity reviews the carrying amounts of Ils tangible assets lo delermine whether there is any indication thal thos8 assels have suffered an impaiTmenl loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of tho Impairment loss (if any}. 1.8 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposlls held at call with banks, other short-lerm liquid investments wilh original maturities of Ihree months or less, and bank overdrafts. Bank overdrafts are shown wilhin borrowings in curTenl liabilities. 1.9 Financial Instruments The charity has elected lo apply the provisions of Seclii)n 11 'Basic Financial Inslruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Flnancial Instruments are recognised in the charitls balance sheel when the ¢harity becomes party to the conlractual provisions of the instrument. Financial assets and liabilities are offsel, wilh lh8 nel amounls presented in the financAa5 statements, when Ihere is a legally enforceable righl to sel off the reGognised amounts and there is an intention to setlle on a nel basis or to realise Ihe asset and settle the liability simultaneously. 14-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnued) 8aslc linancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest rnelhod unless the arrangement conslilules a financing transaction, where Ihe Iransaclion is measured at the present value of the future receipts discounted at a market rale of inleiesl. Financial assets classified as receivable within one yeai are not amortised. Baslc financlal Ilabllllles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslitules a financing transaction. where the debt inslrument is measured al the present value of the future payments discounted al a market rate of inleresl. Financial liabilities classified as payable wilhin one year are not amorlised. Debt instruments are subsequently ¢arTied al amortised cost. using the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been &qUiTed in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one yeaf or less. If nol, they are presented as non-cufrenl liabilitie5. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effeclive inleresl method. Derecognltlon of flnanclal liabllltles Flnancial liabilities are derecognisèd when the charity's Contractual obligations expir8 or are dlscharged or cancelled. 1.10 Taxallon As a registered charity, the company is r1 liable to corporation tax on its income. therefore no liabilily arose on any ordinary activities for the year ended 31 March 2024 nor 31 March 2023. 1.11 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised imm8dialely as an expense when the charily is demonstrably committed lo lerminale the employment ol an employee or lo provide lerminalion benefits. 1.12 Retlrement benefits Payments to defined contribuln retirement benefit schemes s charged as an expense as Ihey fall due. Critlcal accountlng estlmates and Judgements In the appllcalion of the charity's accounting policies, the trustees are required lo make judgements, 8slimales and assumptions about Ihe carrying amounl of assets and liabilities that are not readily apparent from other sources. The estimates and associaled assumptions are based on historical experience and other factors Ihal are considered lo be relevant, Actual results may dtffer from these estimates. The estimates and underlying assumptions ar8 reviewed on an ongoing basis. Revisions lo accounting estlmales are recognised in the period in which the eslimale is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Detemilnlng useful economlc lives of plant and equipment The Charity depreciates tangible assets over their estimated useful lives based on historic perlormance. The actual lives can vary. 15-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestrlcted Restricted funds funds 2024 2024 Total Unrestrlcted R8Stricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Oliver Lymes Charity 1.937 1.937 100,000 10 10 100,000 1.937 ioo,coo 101,937 10 10 Income from charitable actlvlties Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted fund8 funds 2023 2023 Total 2024 2023 Rellef of sufferlng Department of Social Securily St Helens MBC Knowsley MBC Clinical Commissioning Groups Warringlon CC Hertfordshire Trust Liverpool CC Cheshire East CC NHS CheshiTe & Merseyside 21,424 1,211,614 716,587 21.424 1,211,614 716,587 21,734 999,085 740.763 21,734 999,085 771,262 30,499 219,578 117,656 219,578 117,656 287,828 134,452 45,831 49,855 287,828 134,452 45.831 49,855 76,216 6,568 76,218 6,568 56,674 56,674 2.426.317 2,426.317 2,279,548 30,499 2,310,047 Income from Investments Unrestricted Unrestrlcted fundy funds 2024 2023 Interest receivable 5,170 1,013 16-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Incom8 Unrestrlcted Unrestricted funds funds 2024 2023 Sundry income 33,093 28,891 Expenditure on charitable activities Relief of sufferlng 2024 Rolief of 8ufferlng 2023 Direct costs Staff costs Depreciation and impairmenl Hire of equipment Rates and water Insurance Light and heal Telephone, printing, stationery and postage Waste disposal Staff sundries Sundry expenses Catering provisions and consumables Residents, welfare Housekeeping and nursing consumables Computer and $ofare costs Repairs, renewals and gardening 1.898,833 29,871 37,153 15,518 23,460 63,212 18,842 29,746 20.048 6,787 135,501 20,917 42,162 50,458 51,676 1,767,125 30.355 33,058 17.502 22,117 52,016 15,568 27,042 10,105 9,123 133.036 22,762 49.714 38,821 148,063 2.444,182 2,376,407 Share of support and governance costs (see note 8) Support Governance 10,947 10,080 14,387 9,600 2,465,209 2,400,394 Analysls by fund Unresliicted funds Restricted funds 2,422.650 42,559 2,400,394 2.465.209 2,400.394 17-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocatsd to activlties 2024 2023 Legal and professional Audit fees 10,947 10,080 14,387 9,600 21,027 23,987 Analysed betwe8n: Relief of suffering 21,027 23,987 Net movement In funds 2024 2023 The nel movement in funds is stated after chargingl(crediting): Fees payable for the audil of the charily's financial statements Depreciation of owned tangible fixed assels 10,080 29,871 9,600 30,355 10 Trustees Transactions with Irust8es have been disclosed in note 21. 11 Employee8 The average monlhly number of employees during the year was: 2024 Number 2023 Number Management and administration Nursing and rehabililalion Domeslic, laundry, porters and drsvers Catering Bank 35 13 33 14 13 18 Total 70 75 Employment costs 2024 2023 Wages and salaries Social security costs Qlher pension costs 1,718,880 136,644 43,309 1,580,598 136.044 50,483 1,898,833 1.767,125 Included within employment cosls this year are PRP bonuses lotalling £23.575. This bonus was nol paid until post year end and is recorded within Cfeditors. 18-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees (Continued) The number of employees whose annual remuneration was more Ihan £60,000 is as follows.. 2024 Number 2023 Number £60,001- £70.¢0 Remuneratlon of key management personnel The Trustees consider the key management personnel lo be comprised of.. the Trustees, Registered Manager, Finance Manager, Service Coordinator and the Clinical Manager. The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensalion 265,118 236,507 12 Tangiblo fixed assets FrBghold land Flxture$ and and bulldlngs flillngs Computorg Motor vehlcltr Total Cost At 1 April 2023 Additions 1,696.617 53.085 319,073 9.397 24,192 54.690 2.094,572 62,482 Al 31 March 2024 1,749.702 328,470 24.192 54,690 2,157,054 Depreclation and Impairment At 1 April 2023 Depreciation ¢harged in the year 309,894 7,385 260.577 13.481 23,172 1,020 28.073 7.985 621,716 29,871 At 31 March 2024 317,279 274,058 24.192 36,058 651,587 Carrying amount Al 31 March 2024 1.432.423 54.412 18,632 1.505,467 Al 31 March 2023 1,386,722 58,496 1,020 26,617 1,472,855 19-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tanglble fixed assets (Contlnued The charily does not intend lo sell ils freehold property in the foreseeable fulure. pariicularly as the trustees have ambitious plans to expand Ihe provision of ils tharilable aclivili8s which would involve keeping the property in question and incurring further capilal inveslment in improving it. The charity purchased the property in April 1999 with the aid of a loan from Knowsley Primary Care Trust {formerly Sl Helens and Knowsley Heallh Authority) of £1,100,000 secured by a legal charge and the primary care Irusl was granted a right of pre-emption exercisable until AprÉl 2020. Theffjfore, the charity, if il so wishes, may now sell Ihe prop8rty to a third party without the constraint of premptIon agreement. The terms of the legal charge, howevet remain valid and provide that on any sale of property by the charity the sale price has lo bè agreed wilh the Primary Care Trusl and the sale price is payable to the Primary Care Trust less the amount of any reasonable sums which shall be proved lo Ihe Primary Care Trusts reasonable satisfaction to have been expended by the charity oul of ils own funds in effecting structural additions or improvements to the property. Therefore. in the evenl that the property is ever sold by Ihe charity, il stands lo benefit by up lo a maximurn of the expenditure it has incurred in effecting any structural additions or improvements to the property up lo the date of sale. Any potential economic benefit lo be derived by the charily in the future depends entirely on the property being sold. The value of the property is considered lo be in excess of its inilial cost to the charity, however the charity does follow a policy of revaluation. 13 Debtors 2024 2023 Amounts falling due wlthln one year. Trade debtors Prepayments and accrued income 67,790 54,682 38,574 21,441 122,472 60,015 14 Credltor6: amount8 falllng due withln one year 2024 2023 Other laxalion and social securily Trade creditors Other creditors Accruals and deferred income 32,744 10,996 85,065 59,097 36,796 26.551 60,138 37,727 187,902 161.212 Included in other Cfedilors is the amounts owing al 31 March 2024 in respect of defined pension contributions which were £5,534 (2023.. £5,611). 15 Credltors: amounts falling due after morg than one year 2024 2023 Borrowings 1,100,0(KJ 1.100.000 -20-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Creditors: amount8 falltng due after more than one year {Contlnued) Borrowings repres8nl an other loan from The NHS Property SeiCes Limited (formerfy Knowsley Primary Care Trust loan} which is secured on the land and buildings al 11 Sandstone Drive, Prescol. 16 Retirement benèfit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribulton schemes 43,309 50.483 The charlly operates a defined conlribulion pension scheme for all qualifying employees. The asse15 of the scheme are held separately from those ol the charily in an independently administered fund. 17 Restricted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 Aprll 2023 Incomlng Resourc89 At 31 March resourcgs oxpended 2024 Oliver Lymes Charity Workforce recruilmenl & retention 1 W.000 (12,060) (30,499) 87,940 30.499 30,499 100.000 (42,559) 87,940 Previous yoar. At 1 April 2022 Incomlng Resources At 31 March resources expanded 2023 Workforce recruilment & retention 30,499 30,499 Workforce Recrultment & Retsntlon During the previous year the charity received grant monies from Knowsley MBC to dislrlbule lo front line health care workers for their service in the the COVID-19 pandemic. Ollver Lymes Charfty During the year the charity received grant monies from Oliver Lymes CharÈly lo enable them lo purchase a portacabin and associated ground works. At the year end the ground works were complete but the porlacabin has not been purchased. 21
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unrestricted funds The unrestricted funds of the charity comprise Ihe unexpended balances of donations and granls which are not subject to specific conditions by donors and granlors as to how they may be usèd. These include designated funds which have been sel aside out of unre51ricled funds by the trustees for specific purposes. At 1 Aprll 2023 Incomlng resources R880urces At 31 March expended 2024 General funds 877,265 2.466,517 (2,422.650) 921,132 Previous year: At 1 Aprll 2022 Incoming resources Resources At 31 March exponded 2023 General funds 968,197 2,309,462 (2,400,394) 877,265 19 Analys18 ol net assets between funds Unrestricted Restrl¢ted funds funds 2024 2024 Totsl Unrestrlctod Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances al 31 March 2024 are represenled by, Tangible ass8ls Current assetsl(liabililies) Long lerm liabilities 405,467 515,665 1.1CKI.000 1,505.467 87.940 603,605 {1.1C(I.000) (1,100,000) 372.855 504,410 1.100.000 1,472,855 30,499 534,909 (1,100,000) (1,100,000) 921,132 87.940 1,009.072 877.265 30.499 907,764 Property Fund Following changes in legislation in prior years, St Helens & Knowsley Health Aulhorty were required lo dispose ofAvondale Nursing Home. 11 was agreed that Delphside Limited purchase the home from the Health Aulhorily for £1,100,000. The purchase was funded by 3 1 Oooh mortgage from Sl Helens and KrH)wsley Health Authority. Repayments of either capital or interest will nol be required so long as the home is used for its curront designaled purpose. This has been treated as a restrided fund, details of which are shown in the balance sh9et on page 12. The company was required lo enter into a pre-emptive agreement wilh St Helens & Knowsley Health Authority lo enable the Authority lo repurchase Ihe home. for a sum equal lo Ihe purchase pricè paid by the company, in Ihe event of any fulure disposal.11 is on the basis that the directors have decided not lo charge depreciation on the freehold land and buildings. The £1,100.000 mortgage, shown as a long lerm liabilily in nole above has not been discounted in the financial statements. -22-
DELPHSIDE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Operating lease commltments At the reporting end dale the thaiity ha(J oulslanding commitments for fijture minimum lease paymenls under non-cancellable operating leases. which fall due as follows.. 2024 2023 Within one year Between two and five y8ars 13,992 17,490 14,802 31,482 31.482 46,284 The operating leases represent leases of equipment to third parlies. The leases are negolialed over lerms of 3-5 years and rentals. All leases include a provision for fiveuyearly upward rent reviews according to prevailing market conditions. There are no options in place for either party lo extend the lease temis. 21 Related party tran8actlons There were no disclosable related party transactions during the year (2023 - none). 22 Cash generated from operations 2024 2023 Surplusl(deficill for the year 101,308 (60,433) Adjuslmenls for.. Inveslmenl income recognised in slatemenl of financial aclivitFes Depreciation and impairment of tangibl8 fixed assels (5,170) 29,870 (1,013) 30,354 Movements in working rApilal-. (Increase)Idecrease in deblors Incre2sel(decrease) in creditors (62.457) 26.690 23,039 (3,689) Cash generated froml(absorbed by) operations 90.241 111,742) 23 Analysls of ¢hange8 In net (deblyfundg At 1 Awll 2023 Cash flow8AI 31 MarGh 2024 Cash at bank and in hand 636,106 32,929 669,035 Loans falling due after more than one year (1,100.000) (1,100,000) (463,894) 32.929 (430,965) -23-