2022-03-31-accounts

LIFE PATH TRUST LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

LIFE PATH TRUST LIMITED CONTENTS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Rèpc¥t of the Trustees Statement of Truste8s' R8spon5ibilib"es 14 Independent Auditor's Report 15-18 Consolidated Statement of Financial Activities 19 Balance Sheets 20 Consolidated statement of Cash Flows 21 Notes to the Financial Statements 22-42

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The Board of Trustees, are the Diredors of ￿fe Path Trusl. are pleased to present the Annual Report and Financia infomiation lorlhe year that finished on 31 March 2022. The infomiation in this rewrt indudes th8 subsidiary c(thpanies Newpath Ventures Limited and Newpath Housing Limited in Ihe group infomiafjon. Who are we? Charity Nane Life Path Trust Limited Charity Regislr811on Number 1013242 Company Registration Number 2731429 Registered Office 511 Walsgrave Road Coventry CV2 4AG The charity is managed during the year by a Board d Trustees who were.. Keith cha￿an Robert Hall Edward Lamb Philip Rusk Judy Ryan (Chair) Philip Emsden Peter Manger n Baines David Lole Roma Hawthorn Palriaa Bogle (Re elected 2?, January 2022} (Resigned 31$1 March 2022) {Resigned 31$l March 2022} Diane Pery Company Secretsry Thè Trustees have some professional advisers to help. These are: Auditors Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading, Berkshire RG1 1PL Bankers Natwest 24 Br(k9dgate Coventry CV1 1ZZ Solicitors Hammons Solieitors Incorporating Payne Skillinglon The Old Bank 353 Walsgrave Road Coventry CV24BG Anthony Collins LLP 134 Edmund Street Birmingham B3 2ES Page 1

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Insurance Brokers Arthur Gallagher Temple Point 7th Floor 1 Temple Row Birmingham B2 5YB Page 2

LIFE PATH TRUST LIMrrED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 And to manage the charity day to dty the Trustees have appointed staff. The Senior Management Toam during the pericrfl was as follows.. Chief ExecutNe Officer D1￿ctor of Opèrations Head of Operations Director of Finance Dianè Perry Elaine Skn'llern (resigned 5th November 2021) Adam Tighe lappoinled 8th November 2021- re&gned 4th March 20221 Caroline Mitchell lappoint8d 4th January 2022- resignaj 13th July 20221 The Truslees are responsible for presenting an annual report each year with finanaal statements that give a fair and true view of the ac￿V￿e$ of Life Path Trust. The report and slalements have been prepared in accordance wth the Stslemenl of Recommended Practice {SORP) 2015 for Charities and the requirements of the Companies Act 2006 using the Spedal Provisons of Section 415A of the Act relalirs lo small ¢ompanie8. OurVi$lon The vision of Life Path Trust is= PeO￿e wth learrring disabilities live thelr lives to the full. Our Misslon Our mi￿10￿ is: 'To t*ovide the best support and seNices to enable people to be valued. to develop and achieve". Our Keyvalues ChoiGe-lo have a choice in,. how you live your lrfe, where you Iwe. there you wrk. what you do with your leisure time. Rlghts - lo have a right to,. make decisions about living your lrfe, live the life you want to, have a home of your owi, supwrt to achieve your amlitions. be recognised and valued as yourself. Incluslon- to be able to (with support rf needed}., be involved in dec4sions about your life, have a vthce. have YO￿ views ideas listened lo, parb'cipale in your local community- Opportunity- To be given a thance to,. develop your path in life, undertake lifelong leaming. athieve qualrfications, have a job and be paid for worf(ing, follow interests of your choice. Indepgndenco- lo able to; look after yourself as much as you can, mak8 your own dedsions, be supported vthere necessary, be safe and maint￿n wellbeing. understsnd and accept rights and rgsponsibilits'es bthich maint¥4n in(Jependence. Responsibility- to understand that all the above cary responsibilities, you r￿ed to understand thoso responsibilities, you may need support to understsnd those responsibilities. How do we work?- Structure, govemance and managemènt The charity called Coventry Homes Mentally Handic8pped Citlzgns was formed in 1973 by a group of parents and C(￿ceMed pr(Ife￿onalS. In 1991 the charity was incorporated as a company limited by guarantee with a Memorandum and Arb'des of Association, which set out how the Charity is lo be govemed and Sts objedb'ves. In 2004, th8 charity change¢J its name lo Life Path Trust Limited to refiecl more effectively th@ bM)rk it undertakes. In 2011, updated Artides of Asso¢i3tion were adopted. Page 3

LIFE PATH TRUST LIMrrED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Eaeh ye8r the charity's members elect a Board of Directors who are also the Trustees of the charity. Every year one third of the Tnjstees stand down, bul can be re-elected bythe rnembership. If the charity is woun(I up, memtrs are required lo pay £10.00. AJI new Trustge$ have an induction, whi¢h indudes all the main policies, the Charity Ccrfnmission leaflet about Trustee r8sponsibililies, a role description for Trustees, the charity's Arb"des of Association and other infonnation 8boLrt the charity s work. New Trust8es will also meet ￿th the Chair and the Chief Executive for an induction into th￿r role. The daY-t￿daY running ofthe charityis delegated to the Chlef Executive andthe Senior Management team. The Board of Tr4JStees has established commlttees lo look al= Finance and Audit Human ReSoUr￿S Health and SÉfety Strategy & R&nuneration Each wmmittee has a rgmil and there is al leasl one Truslee invdved. The Board ofTruslees meets every six ¥￿kS vknich was introduced during the pandemic in 2020 to support the executive team and align more closely wlh Committee meetings. Th8 fomiat for Board meetings now is themed attemately lo focus on Finance and Strategy and Human Resources and Health and Safety. How do wo work - Risk management The Trustees have delegated the review of the major rfsks lo the committees respon&ble for key areas. Each committee revi8WS the major risks using 8 risk assessment tool, whSch covers all areas of risk identified by the Charity Commission in their report 'Chariti8s and Risk Managèment, published in June 2010. This ensures that we do not overfook any main risks and makes Sure that vwe are consislenl about the way we look al each risk. Against each idenlifiod risk, the control measures that are in place are recorded and any further action required is id8ntified. The organisalion's senior management team Is responsible for taking any actions required by the risk assessment. The relevant project risks are 81s0 reviewed al eo Committee meets'ng and then reported into Board meetings so that it is a dynamic process. The main risks identified during the year have been: Risk lo reputation and business continuity due to a CQC inspection in July 2021 ￿lch rated the Supported Living SeNice Inadequate and raised c()cems aboLrt safeguarding. Covid 19 continuing through the year The increased National knving Wage, which increased the costs of providing support. Funding lor social care as wth Local Authorities having lo spend less, there is less money for social care. Loss of Key stsff in a difficLrfI market for recruilment. Risk to reputation and business continuity due to a CQC inspection of the Supported Living Servlce in July 2021 whlch rated the Supported Living Service Inadequate and ralsgd concems about safeguarding. Page 4

LIFE PATH TRUST LIMrrED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Followng a CQC inspection in a July 2021 the Supported Living SerV￿e rated overall Inadequat8 an(J placed in special measures. At the same time Coventry City Council pul a restriction on any new business for any ol the se￿1￿$ run by Life Path Trust (Supported Living, Day Opportunities and Short breaks). The restrictions on Colnmunity Opportunities and Short Breaks was lifted in November 2021 and are both fully operational wlh new referrals. Thè restrictions bul have been maintained in the supported living service Ihroughout thè r8St d the reporling period whilst Lif8 Path Trust worked to an action plan. The Trustees set up a weekly Risk and Re(xwery Committee and have continued to meet weekly to review progress on CQC actions with the CEO. Whilst there was negative reporting in the local press around the th'me of the CQC report bgng published in October this has not impacted in recrui1m8nl of new staff and all families have the c¢)portunity to engage wth the Trust about any concems. The Trustees recognised the additional costs of additional tempordry resources to be used to sUp￿rt the CEO and Senioi management team enable Ihe issues raised by the CQC to be reVie￿*d and addressed This hos included= Updated safeguarding training for all employees, A desgnated Trustee for Safeguarding IPel8r Manger), An independent audit on Safeguarding together with an improvanenl aclion ￿aft. New leafiels and guidance on how to use WhiStle￿O￿ng policy Merrtal Caparily Act Briefings and Training for staff Updated Mental Capacity policy wwedure and papeMork New Care planning paperwork New daily care records for improved recording and reporting New Atjdit procedures Values sessions forall employ8es168.kn attend8iKe within reporting period)to resist Core values and identify areas for improvement. The Trustees also recoynised th81 the serious safeguardirwj issues needed lo be reported to the Charity Commission tho undertook their oiAn casg review and Trustees will be eonducting a18ssons learned review of the Charity Commission findings thich indieateé that the Trustees needed to have more and appropriate oversight and that the failings in ovèrsight were not intentional and do not o)nstitule mismanagemont or misconduct. The Tnjstees will continue to imF48ment the adion Pl￿ from the in(Jependent Safeguarding audit ensuring robust oversight. The CQC re inspeded the Supported Living SeNice on the 15th March 2021 and were nol satisfied wlh the ogress made. The CQC have therefore applied enIor￿Ment acti￿ lo the Supported Living Servie£ registration as the Service is still rated Inadequate and in special measures. The Trustees have made the difficult decision that despite the efforts made to improve Ihe service. in the light of enforcement adion and the difficult the operating dimate that Coventry City Council were asked to find a new provider for the Supported Living Servi￿. This deii$iM enables continuty of seNice to Cibzens of Life Path Trust and their families and employees. The Short Breaks service continues to b8 rated Good by the CQC and wlll continue lo be ddivered by Lrfe Path Trust. COVID-19 continued to present challenges during th8 reporbng period particulady in the maintenance of levels of staffing due to COVID. The Charity had taken a Risk Management approach at thè beginning pf the pandemic which is now embedded in practi￿ and enatled all supported living services lo continue safely follounng the Govemmenl guiddines and the Goverrffienl Social Care Action Flan. Page 5

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Employees working in the Supported Lrving servI￿s which operated 24 Hours 8 day were supported by a team of ktry 51aff who operated from the office atwalsgrave Road providing personal proteclThie equipment, updated Risk Assessments and continued lo detiV6r a dassroom based COVID safe training programme. The office al Walsgrave Road continued lo run as a COVID safe environment ￿1¢h enabled all teams to return to office based working though Trustee meetings continued online. A full record of actions taken at each stagg has been maintained by tho CEO and overseen by the Health and Safety Committee so that progress of kn'fe Path Trustioumey throughout the pandemic has been fully documented and evidenced. The Infection Control Grant {admiNslered by the Local Authoriliesl enabled employees who had to isolate du@ to the COVID regulations to be paid for the isolation. The Govemment Infection Control Grant also supported staff costs in relation lo testing and vacanalion. sin￿ late 2020, all employees including office- based staff are betng weekly PCR lesled and this segued into lateral flowtesling Iwce weekly. This ensures effective management of the scenarios around isolating and tracking. Life Path Trust follows Government Guidance for Supported Living and Residential Homes which is r8quir8d for the Supported Lwing and the Short Breaks Service respectively. LPT has worked effectively to support emtAoye8s and Citizens to gain ac￿SS to vacrynalion programmes with a high rale of uptake 97.8% of employees and 100% of Citizens have beén vac(inaled. The management of Risk has enabled LPT SupF)Orted Living SeNios to navigate as safely as possible through the pandemic wlh a successful reC￿d of accomplishment of supw)rting Citizens to stay well and safe living in their own homes. Increasg in Natlonal Minimum wage and Impact on fee uplifts Local Authority uplifts do not match National Minimum wage and the Board of Trus18es have been predicting the long term risk lo the sustainability of services and recognise the need to ensure effective (liversilicalion of funding streams. Loss of Key staff. During a significant part of the year there were gap5 Ill the Senior Management team at Director of Finan￿, HR Manager and Head of Operations level. In relabon lo Finance the charity was supported by an interim and developed the effective teamwork of the finance team led by the Management Accounlanl, supported by CEO and Chair of finance committee, lo enatrAe 311 finance matters to be delNered. The Team also brought in a new payroll and HR system and in the difficult recruitment market utilized agencies to find a Finance Diredor and a Head of Operations. The strategic HR function has been supported by Consultancy. Life Path Tnjsl benefited from the workforc8 r￿rUitMent and retention grant ￿lch was ulllized to ensure continuity of weekend working and re¢ruf(menl and retention of employeés. During the challenging period employee recruitment ￿ntinUed including a restructure of the Supported Living Service to ensure more management support ac*oss the areas of delivery. The Short breaks and Community Opportunities team were also reorganised under one senior manager lre91sle￿d manager) thich has brought stability and consistency of leaclership lo those teams. How we ￿nOrIt ov&ryone The Trustees have made sure that Lrfe Path Trust lollows the Charity Commission guidance on public benefit. Our Articles of Association show we benefit the public and that our practices ensure that anyone with a learning disability can benefit from the Charity's work. Page 6

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 What are we dolng and how dkl we gel on?- Objectives and actlvitig5 Th8 charity's objectives as given in the Artides of AswrAation are.. he provision of care, 0ssistan￿. support and relief of suff8ring amongst people who are disadvantaged by soaely due to health co￿lI10nS, age infirmity or leaming disabililiesldifficullies. within the area of benefit-" The area of ￿n&fit is England and Wales. The main activities of the chartty at present are.. 1. Care and support This covers supporting people in their ¢)vm homes and providir@ pèrsonal care rf neeijed. W8 also prcwide care and support in our shtxt slay servlee to peq)le wlh learning disabilities 2. Supported enyloym&nt We provide supported employment to peopl8 with leaming disabilities through our subsÉdiary N8wpalh VentUTes Limited which runs a number of bjsinesses. We also support people to find work experience other employgrs through our ESF Emplo￿nent SuprKJrt Prqect Connect 2. The Trustees have decided that the charty's objectives need to be interpreted and slated in a more useful Wdy, has been done through the mi&8ion slalement and key values given earfier in this report. In 2021-22, year 3 of a 5 year strategic plan meant that dueto the situation wth CQC and the Supported knviro Service operating in special m&asures. priority was given to safety and sustainability of the Charity- Th& stralggic aims and obj'ectives continued to be relevant are asfollow8'.- strate ic 1. Sustsinabilil lo nsure Life Path Trust continuos to achieve tts Mission and VI￿On for Objectives include 1.1 Conts'nue to delwer. retain and devdop effectNe high quality seNlces across current areas of deliv8ry. 1.2 R8cruil, train (provide apwq)riate a¢¢raite(I training) and retain high q￿lty employees to provide support lo Citizens. Strate ic A¥n 2. Enable itizens of Life Path TTUSt to Iwe their Iiv8S to thè full. AM staff and vdunteers provide the LEst support and seN1￿5 to enable people lo be valued, to Dwdop and Achieve. All staft and volunteers deliver SeNices delermined by the core values of Life Path Trust. Strate icAm3.D achieved for e￿Stin velo and maintan the asset base of ￿fe Path TTU81 to ensure maximum benefit is and future Citizens of ￿fe Path Trusl and the wider communit Strale ic 4. Innovate to ensure the future cl Setvicg delNe for itizens. to manlain ind ndent safe se￿IceS trale Ic Aim 5. Enhan[￿ the involvement of Citizens and Families in Life Path Twst. Page 7

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Achievemgnts During the year, Life Path moved from ils Oxford based Services Succe￿fullY transfgrring the Day service at Chipping Norton lo Guideposts Trust and developing a relationship with Guideposts which may have potential for future joint working on relevant projects. Appolntgeshlp Ser¥lce Life Path cornmenced th8 transfer of the Appoinleeship service to Age UK irb Coverty. The deosion to transfer was to reduce the risk to ￿fe Path Trust and ensure that the Citizens ar8 in futura supported by Coventry City Council Contracted Appoinleeship Service. support￿ Livlng. Overthe year, the weekly supported living h0Urswe￿ 5124.34 d￿￿e￿I lo 98 Citizens across Coventry This support wa8 maintained over 24 hours a day and 7 days a week . Community Day Opportunltles continueij lo doliver Services ffom the Henry Fry Centre in a group setting and one lo one in the community and in partnership wlh a number of organisalions. Easing crf Covid restrictions has enabled rytizens lo experience a range of cornmunity activities such as.. Cinem8. Swimming, Geek Retreat (community games} Salvation Army singing group, Salvation Army friendship group, WASPS rugby club partnership in health and fitne&8. Partnership with the Notables- music, Citizens volunteering at the food bank weekly , Public health video lo encourage vaccinations 8dulls wth disabililie5. We are a150 SUPPOrted by Warwick Road Church. This provided 88 person days per week and Citizens also accessed day opportunities at lfjngshill Nursery and Four Seasons Function room which provid8d 51 ￿r$On days per week. Supported Employrnent Projects {Conne¢t2} Life Path Trust is no longer a partner with the Accelerate project but all participarrts transferred lo the Connèct2 project. Connect2 supports unemployed and economi￿llY inactive people living in CoveTrlry lo achieve their amknlions for employment, new business start-up and further education and training. Flexible personalised support is tailored to individual need. Lile Path Trusl is a specialist partner supporting people wlh Learning Disatmlilies. During the pandemic a more Nènded approach took place lo engage partiapants , working methods were changed in respect of face-to-fa￿ contact wth participants, which was initially challenging. Through well- being. calls and posilNe mentoring all participants have remained engaged. Participants came from both thin Life Path Trust as part of thar journey of independe￿e and exlern8lly too. Social Media was used to promote the service. All participants have o)ntinued to receive fLrfI support IhroughoLrt the year as w8 cam8 out of the pandemic It was found that during this period the support participants have needed was not about people finding work bul having some kind of conl8cI and boosting people's well-being. The project team decided lo make a podcast to C2Pture people wth 18aming disabilities-slories of work and their community. We wanted to hear about the ups and dO￿S and struggles of everyday life. To give peoplè a better insight illto Learning disabilities in Covenlry. We asked some people on the project lo partioxpate in a pilot called the Hope program, a six-week course to hèlp pecple wth anxiety and stress and enhance well-being. Page 8

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 It's the first lime the program has wvrked with people syith learning ijisabilities and has a great possibility that this could gel funded again lo work with a new group of path'lipanls going forward. The Hope Prc¥ect has expressed an interest in working in partnership as it has accessed funds. On our last audit visit, we were given a glowing reference and a trfflllianl rewt. We w8re dassed as innovative and always looking to do new things that no other partner was doing across-projects. We aro currenlly svpporting 30 parbcipants across Coventry. citizens Engagomgnt In Governancg and Quallty The involvement of Citizens in the governan￿ and quality management system of Life Path Trust is through the Citizens Board and the Quality Checkers. Tr ￿ti￿nS Eowd metagain dLrring OcAthu 2021 butthe QLdity dwkers still inpthd ty COMD aThJ hav8 ngt been restart*J as a group Short Breaks. The Short Break Service had received a Good rating from ils Care Quality Commission {CQCl inspection at the end of 2019 and has received an Infection control inspection and rgmains a Gocxj Rating. After being dosed for the pandemic il is now able lo function at full capac41y. The service is now linked in with the community day opportunities team under the leadetship of a new registered manager and is continuing lo develop oprK)rtunilies for daily living as well as short breaks. Life Path Trust set up Newpath Houslng in July 2020 as a subsidiary to defiver lan¢Jlord Servi￿$ a$ required and this has not taken on any landlord services. Now Path Vonturos Newpalh Ventures has continued lo increase the opportunities to Citizens who support the rAant nursery at Kingshill as coworkers as part of their day opportunities. The nursery has improved ils financial perfomiance under the leadership of a new grower and hard work on the part of the te8m to continue lo delwer two plant festivals in May and December per year. The hanging basket market is also in¢xeasing with repeat customers every year due to the outstanding quality and design. The Fcwr Seasons wa$ not lo be atle to re¢ruil a full time chef in the replyting period but has now been successful. The FoLJr seasons has adapted being SLJPPOrted by existing catering staff and recruited a new care and catering assistant to support Citizens who attend the Four Seasons. A pop up café has functioned over the reporttng period on 3 days a week and is evolving. In summary. it'$ been a Ghollenging year in the Supported LNing servi￿ but other services have been steadily modifying and develoiyng as we have come through the pa￿leMic. Monoy- Flnanclal Revlow are and Support ,097,023 Supported employment income 331,953 Donab'ons, gifts and grants 447,894 Rental income and investments 95.991 Mono we s nd: Running the servi￿5 Raising m(Y Page 9

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2022 Money- R9S9rvgs The Trustees have reviewed the Charitls needs for resetves in line with the guidance issued by the Charity Commission. The holding of reserves has been considered alongside the major risks that the organisalion is faung at the lime ol the review. Risk management is now considered at every Quarterfy Board meeting. The Reserves Pdicy will be reviewed on an annual basis al the February Finance Convnittee to estsblish.. 1. what benefit there wll bè in holding such reserves 2. the level of reseTves required each year, based on the income and expenditure pattern for the followng year 3. what action is required to meet the agreed levd of reserves in what fomi the reserves are to be held TYPE OF RESERVES HELD BY LIFE PATH TRUST These funds are set aside for a specific purpose. •) Refurbishment of premises The Charity operates in different types of premises.. Freehold ownership Those which Llfe Path Trust 0￿$ the freehold ownership for the charity has the responsibility foT refurtrAshment and major repairs. Leased properties Where ￿fe Path Trusl provides a service to adults ￿1th leaming disabilities in a propety that it rents from another organisalion and colleds a service charge that cthier5 repairs and mainlonance, il has the responsibility for those costs covered by Ihe relevant management ag￿ement wth the relevant Registered Social Landlordl or other landlord. Where there is no service charge airangementthe repaiF and refutbishment costs ale met by the landlord who carries all the propety risk. For ovmed premises 5% of (x)st is transferred into the fund each year for repairs arKi maintenan￿. As agents for landlords, the figure should be assessed annually based on any exces5 of servi charge income after expenses via the service charge mechanism. bl Property Development Fund A large legacy was received by the charity in the year ending 31¥t March 2013 of £91,676 and put into this new fund so that il could be used for developments. There is also an annual donation of £25,000 which Is pul into this fund. It was agreed that this donation would be pul into this fund from year end 31. March 2016 with the idea that it would grow the fund. Page 10

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 c) Service Devglopment Fund This is set asde for any legacy inCc￿e to ensure that it can be used to d8velcp vaue added services for ¢itiz8ns. It is currently being used to fund a volunteer co-ordinator to assist with the recruitment of volunteers and ￿eating and managing the atizens board. These are reserves s%Ere funds have been provided vAth specific lemis as to how they are to be spent. This type d reseNe can only be rdeased vhien the explicit fA)Sts are incurred. The charity shwld hold unrestricted reseNes for Iwo purposes.. a) To cover known futUTe expendltUT¢ To safeguard the Charity's seNice commitments in the event that there are d818ys in the receipt of funds available to provide the seNices lo meet our slated objedives. There sh￿Id be resgrves lo be able lo meet 3 months njnning costs. The reserves Tkéill be cash bod(ed wth the remainder backed by short temi deblors. b) In the event of the Chaiity ceasing to operate funds or insolvency to 8nable the elosingof th8 Ch*ity. At the y8ar-end free reserves are £777,910 {2021: £1.434,2061 which ￿preSentS 1.25 rnc￿ths operath'ng sts. Our aim 15 to hdd 3 months of operating Costs in free reserves to cover our cash flow Tequiremenls. The cover has in¢re8se in part to the rdease of the Sle8P4n dasignaled reserve. Given the u￿ertaInty of fundiThJ for the social care sector the Trustees are conscious that the free reserves need to be higher arKJ ￿711 consider tlis issue as part of th￿r ongoing decision mthng pr￿esseS over the next year. Money- Investment powers and performance The Artides of Association vthich govern the charity give the Trustees wide powers to invest any money. As money is only b&ng kept lo make sure wè can run the tharity effiaenuy, th& money is only invgsted in yaces that ar6 safe and allow us to get the money if il is need8d. During the year we eamed £141 (2021.- £816) in interest on our cash balances. Money- ￿nsionS Life Path Trust has a slakehdder defined contributions pansion scheme that all staff are digible tojoin after 3 mcfiths. ￿fe Path Trust Contributes 30A of salary of membefs to the pension. The stakeholder penson scheme is operated by Aegon. Money- Settlng pay ft>r key staff The Trustees set the pay of key staff aach year al the same lime thatthe pay scalesfor all staff are agreed. All pay scales are Sat by benchmarking jobs against similarjobs in the charity sector and our ability lo pay. Page 11

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Money- Major events The major events which remain oulslanding in 2021122 is the National Living Wage. the inability of the Social Care Sector Funding to increase fees in line wlh wage uplifts and the impact of staff sickness due COVID isolation. We continue lo recognise that financial prudency ha5 meant that the charity has funds on which to draw in challenging times and have claimed all grant support through the infection control fund to support additional costs of COVID. A bigger impact this year has been the loss of income when care packages have changed and Life Path has not been able to take on new pac*ages. This has had a substantial impact on losses incurred. What are w￿ golng to do n&xt yea The transfer of the Supported Living servi￿ lo a new provider in mid-July wll mean that the Trustees wll need to review the strategic direction of the Charity building on the remaining bu&ne&8 units and lookin9 to develop pr￿e¢1S which continue to support the Vision, Mission and Valuès of the Charrity To ensure Life Path Trust continuos to achieve its Mission and Vision for Citizens Enable Cibzens of Life Path Trust lo live their Iiv8s lo the full Develop and maintain the asset bas8 of Life Path Twsl lo ensure maximum benefit is achieved for existing and future utizens of Life Path Trust and the wider community Innovate to ensu￿ the luture of service delivery lo maintain Indepèndent. safe services foratizens Enhance th& invdvement of cAlizens and families in Life Path Trust Through the way we deliver services, raise awareness and challenge negative stereotypes and attitudes towards people with leaming disabilities Over the ccming year the business plan wll be amended lo ensur& that servirE delivery is consolidated to meet the requirements of newways of working. This wll impact acn)ss the wFM)le Life Path Group including 'ngshill and Four Seasons at N8wpalh Ventures. The Four Seasons has rbow recrurted a chef and will review the w)upventures, induding a café and varied use of the venue including regular dasses such as yoga. It will start lo open again lo larg￿ functions as enquires continue to increase. In the coming year work will wntinue lo develop the asset base of Life Path Tmst. This involves the setting up of Landlord services though NOb￿ath Housing, which Mrill take back properh.es 0￿ed by Life Path Twst currently run by a Housing Association due to the requirementslhat the support providèrcannDI be landlord. As Life Path Trust wll no longer be a supp(irt provider this wiflict will no longer exist. There will also be strategic consSderatlon given to the realyzing the monetary potential of the site at Walsgravg Road which wll be progressed over the coming 12 months. This sile hos renewed planning permission for the development of retiremgnt flals. The new quality management system and HR system will enable real time reporting lo ensure effectiva manag8ment and support lo Citizens and staff. The quality system will be maintsined in all remainiThJ services and wll be develop¢d for use in Landlord services. The Citizens Boaré formal bMII continue bul will reV1w￿ to be engaged in consullalion as tenants of landlord services as well Citizens of Life Path Community Opportunity and Short breaks services. There TMII be a focus on recruiting more vdunleers lo support Citizens undertaking day opportunities and 8t Kingshill Nursery. We are also continuing to develop the ESF match funded supported employTnenl projects in conjunction th Coventry City Council. Page 12

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

New Projects

The charity will look to develop the opportunities for qualification based horticultural courses through Coventry Training Consortium and Newpath ventures. The charity will also explore the development of new services to support the wellbeing agenda using the 6 acres site at Kingshill Nurseries. This may be in partnership with other organisations and will look for grant funding to support.

Fundraising

As part of the strategic review the Charity will look to develop community based fundraising activity.

The charity had no fundraising activities requiring disclosure under S162A of the Charities Act 2011.

Disability Confident Employer

Life Path Trust is registered at level 2 as a Disability Confident employer. The Disability Confident scheme Disability Confident is a government scheme designed to encourage employers to recruit and retain disabled people and those with health conditions.

Life Path Trust also employs the use of Occupational Health professionals to enable employees to obtain maximum support to continue in their roles.

Provision of information to auditors

The people who are Directors when this report is approved agree that:

• so far as they are aware, there is no audit information that has not been given to the Auditors

• • CompanyThey have taken all the steps they should take to be aware of any information needed by the 's Auditors so they can prepare their report.

Auditors

Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor.

The trustees have agreed these financial statements which have taken advantage of the small companies exemptions provided by section 415a of the Companies Act 2006.

The Trustees Report has been approved by the Board of Trustees on 6 December 2022 and is signed on their behalf by:

Judy Ryan Chair

Page 13

LIFE PATH TRUST LIMrrED STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directcn of Life Path Trust Limited for the purposes of company law) are responsible for preparing the Trustees, Report. and the financI81 stst&nents in accordance wth 8pplicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year in aCc(￿an th United Kingdcm GenerallyA(tepled Accounting Praclicg (United Kingdom Accounting Slandardsl and applicaNe law. Under cx)mpany law the trustees must not approve the financial s181emerbts unless they are satisfied that they giv8 a true and f8ir view of the slate of affairs of the charitable ccNnpany and the group and of its nel incoming resources for that period. In preparing these fin8ncial slalemenls, the trustees are required lo.. select suitawe awounling policies and then apply them consistently., observe the methods and principles in the Charitigs SORP- makeluégmenls and estimates that are reasonable and prudent.. stale ￿ether apF4lcable accounting standards have been followed. subject lo any material departures disclosed and explained in the financlal statements., prepare the finanryal statements on the golng eone6m bas unless il is inappropriate to presume that the charity will Conth'nue lo operate. The trustees 8re responsible for keeping adequate accounting records tho1 are sufficient lo show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime the finanryal poslion of the charilatAe company and enable them to ensure that the finanaal statements comply ilh the Companies Act 2006. They afe also responsible for safeguarding the assets of the charity and the group and hence for ta￿n9 reasonable steps for the prevention and detection of fraud and other irregularities. Page 14

Crowe

Crowe U.K. LLP

Chartered Accountants Member of Crowe Global Aquis House 49-51 Blagrave Street Reading Berkshire RG11PL, UK Tel [phone] Fax [phone] www.crowe.co.uk

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED

Independent Auditor's Report to the Members

Opinion

We have audited the financial statements of Life Path Trust Limited ('the charitable company') and its subsidiaries ('the group') for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, The Group and Company Balance Sheets, the Consolidated 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 applicable in the UK and 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 group's and the charitable company's affairs as at 31 March 2022 and of the group's income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw your attention to note 2 in the financial statements, which states that the trustees assessment of Going Concern is based on the presumption that the charity can extend its current planning permission and sell the land at the Walsgrave site. As a result of the uncertainty around these events, a material uncertainty exists which may cast doubt on the charity's ability to continue as a Going Concern. Our opinion is not modified in respect to this matter.

Crowe U.K. LLP is a limited liability partnership registered in England and Wales with registered number OC307043. The registered office is at 55 Ludgate Hil� London EC4M 7JW. A list of the LLP's members is available at the registered office. All insolvency practitioners in the firm arc licensed. in the UK by the In solvency Practitioners Association. Crowe U.K. LLP is a member of Crowe Gk>bal. a Swis vercin. Each member fmn of Crowe Global is asepara1e and independent legal entity. Crowe UK. LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Gk>bal or any other member of Crowe Global.

Page 15

Crowe

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED

Other information

The trustees are responsible for the other infonnation contained within the annual report. The other information comprises the information induded in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any fonn 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on 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 infonnation given in the trustees' report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors' report included within the trustees' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their 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 and proper accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures 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.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement page 14, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company'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.

Page 16

INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED Auditor's responslbllities for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the finanThal statements as a whole are free from material mi&8tstement, ￿ether du6 to fraud u error, and lo issue an auditor's report that includes our opinion. Reasonable assur8nce is a high level of assuranc8. bul is not a guarantee that an a￿111 (y)n(Jucled in accordan￿ with ISAS IUKI will always detect a material misstatement when il exists. Misstatement$ can aris& from fraud or etyor and are considered material if. individually or in the Aggregate, Ihey o)uld r8asonably expected to irffluence the ecorM)rThc decisions of users taken on the basi5 of these financaal stslements. Details of the extent to which the a￿111 Wds considered capable of date￿Ing irr8gularilies, indudirw3 fraud and non-ccxnpliance with la￿ and regulations are sel out below. A further description cl our respongbililies for the audit of the fi'nancial slalements is located on the Flnancaal Reporting c￿r￿11'S website al.. www.frc.or .uklaudlto res ilities. This description f¢xms part of our auditorfs report. Extent to which th• audit was considered capablè of detecllng I￿e9u1arltiO5. Including fraud Irregularities. induding fraud, are instances of non-ccrfnpliance wth laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due lo fraud or error, ond discussed these between our audit team. We then designed and perfomed audit procedures responsive lo those risks, indudlng obtaining audit evidence sufficient and appropriate to [￿VIde a basis for OUT O￿niGn. We obtained an un(krslaThJing of the legal end ragulakny frameworks ￿tIhIrt which the charitable company and gTOUP operates, focusing on those laws and regulations that hav8 a direct effect on the detemiin81ion of material amounts and disclosures in the financial statements. The laws and regulations we (x)nsidered in this context were the Companies Act 2006, the Charities Act 2011. together with the Charities SORP IFRS 102). We assessed the required Complian￿ with th8s8 laws and regulations as part cl our audit pr(￿dureS on the related financial ststemenl items. In ￿ld1110n, we u)nsidered provist(Th of other lavts and rogulalions that do not have a direct effect on the finanL?al statements bul compliar￿e which might be fundamental to the charitatrAe company's and the group'sability lo operate or lo avoid a material penalty. We also rA)nsidered the opportunitiès and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this contextforthe UK operationswere CQC Regulations forservice proviéers and managers, the Care Act 2014, COVID-19 ￿gUlations. General Data Protedion Regulation {GDPR}, Health and safety legislation, and Employment legi￿all0￿. Auditing standard5 limrt the required audit procedures to idenlify non-compliance with these laws and regulations to enquiry cl the Trustees and other management and inspection of r8gulalory and legal esporKlence, rf any. We identified the greatest risk of material impad on the finan(ial statements from irregularities, induding fraud, lo be within the recognition of income, and the override of controls by management. Our audit procedures lo respond lo these risks included enquiries of management, and the Finance Committee aboLrt their ovm identrficalion and a￿eSsMent of the risks of iThegularilies. substantive tssting on in¢xJme, sample testing on the posting of journals. reviewing accounting estimates for biases, reviewng regulatory correspondence ￿¥th the Charity Commis&on, and reading rrmnules of meetings of those d￿r9ed with goveman(. Owng to the inlrenl limitations of an audit, there is an unavoidable nsk that we may not have detected Jme material misststements in the financial statements, even though we have propedy ￿anned and perfomied our audit in attordance ￿llth auditing standards. For example, the further removed non- compliance wlh laws and regulations lirregularitiesl is from the events and Iransath'ons Tefieded in the finanaal slalements, thè less likely the inherently limite(J Pro￿dureS required by auditing standards would identify it. In addition, as with any audit. there remained a higher risk of non-detection of irregularities. as these may invdve cdlusion, forgery. intentional omissions, misrepresenlalions. or the overTiée of intemal conlrds. We are not responsible for preventing non-com￿lan￿ and cannot ￿ expeded to delect non- compliance wlh all laws and regulations. Page 17

Crowe

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED

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 Companies 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 and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Janette Joyce

Senior Statutory Auditor

For and on behalf of Crowe U.K. LLP Statutory Auditor Reading

Date: 6 December 2022

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 18

LIFE PATH TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDA TED INCOME AND EXPENDITUREACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 Not•s Unreslrlctod Funds 2022 Re$tri¢tsd Funds 2022 Total Funds 2022 Tot81 Funds 2021 Incomo and endowment$ from: Don8tions Other trading activil8s'. Rental inccKn8 Chilable acvitses'. Care and supr*Xt SupFX)rted emFAoyment inc(￿e Inve8tm6nts Bank interest received 305,548 68.881 374.429 389,956 95.850 95.850 95,300 6.097.023 6.097.023 7,366,460 331,953 331.953 215,924 141 816 Othèr TOTAL INCOME Exp•ndliure on". Charitable activthes.. Care and support SuptN)rted emt4oymenl c08ts 7,091942 2,709 7,097,651 7.693. 174 325 TOTAL EXPEN￿ruRE Net incorne and not movoment In funds (516.909) 66,172 1450.737) 84,494 Transfer 79,684 179,684 Recon¢iliatlon of funds: Tot81 furth broLKJM fcffwarrl Total funds Carrled forrtard The notes on pa￿ 22 10 42 fom part of these finandal stsl8rn￿ts Py19

LIFE PATH TRUST LIMITED BALANCE SHEET

COMPANY REGISTERED NUMBER: 02731429 31 MARCH 2022

FIXED ASSETS Tangible assets Investments Programme related investments CURRENT ASSETS Stocks Debtors Cash at bank and in hand CREDITORS:amounts falling due within one year NET CURRENT ASSETS CREDITORS:amounts falling due after more than one year NET ASSETS CAPITAL AND RESERVES Unrestricted funds: General funds Designated funds Restricted funds Notes 11 13 12 14 15 16 17 18 23 22 22 22	GROUP 2022 2021 £ 1,431,727 1,493,689 2,000 2.000 1,33.727 1,95,689 38,087 42,058 703,288 936,095 2,058,319 2,140,558 2,799,694 3,118,711 ( 1.267 ~~I~~677) (1,197,919) 1,532,017 1,920,792 2,965.744 ~~3,~~16~~.81~~ 2,211,637 2,929,895 740,182 459,149 13,925 27,437 2~~,~~9~~65.74~~ 3_416.81_	COMPANY 2022 2021 £ £ 1,419,151 1 126,265 1,545.417 692,175 1,970.288 2,662,463 (1,227,338) 1,435,125 2.980.542 2,226,435 740,182 13.925 2.980.542 1,487,033 1 67,600 1,554,634 2,498 933,585 2,108,801 3,044,884 (1.184,270) 1,860.614 3,15.248 2,928,662 459,149 27 437 3.15 248	COMPANY 2022 2021 £ £ 1,419,151 1 126,265 1,545.417 692,175 1,970.288 2,662,463 (1,227,338) 1,435,125 2.980.542 2,226,435 740,182 13.925 2.980.542 1,487,033 1 67,600 1,554,634 2,498 933,585 2,108,801 3,044,884 (1.184,270) 1,860.614 3,15.248 2,928,662 459,149 27 437 3.15 248	COMPANY 2022 2021 £ £ 1,419,151 1 126,265 1,545.417 692,175 1,970.288 2,662,463 (1,227,338) 1,435,125 2.980.542 2,226,435 740,182 13.925 2.980.542 1,487,033 1 67,600 1,554,634 2,498 933,585 2,108,801 3,044,884 (1.184,270) 1,860.614 3,15.248 2,928,662 459,149 27 437 3.15 248
				1,860.614 3,15.248 2,928,662 459,149 27 437 3.15 248

Included within the group results is a deficit of £434,706 (2021: surplus £84,578) in respect of Life Path Trust Limited.

These financial statements have been prepare in accordance with the special provisions relating to companies subject to the small company regime within Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Board and were signed on its 6 December 2022. \ b"P�

Judy Ryan Chair

The notes on pages 22 to 42 form part of these financial statements

Page 20

LIFE PATH TRUST LIMITED CONSOLIDATED STATEMENTOF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notés Cash flov￿ from operating activities: Net cash (used inyprovided by operating activities 19 113,2371 448.457 Net cash used in invèsting activitiaS Purchase of pro￿ty, Kdant and equipment Bank interest receivable 143,1661 141 {35.456J Net cash used In Snvestlng actlvlties (43.025) (34,640) Cash flows from flnancing a￿1VItieS Interest paid Loan repayments 13901 (1,491) 9234 Not cash used In flnanclng actlvltlès Change In cash and cash equlva19nts In the reportlng period {82.239) 383.092 Cash and Cash equivalents at the beginning of the roporting period 2 140 558 1 757 466 Cash and cash equivalents at the ¢nd of the reporting period CHANGE IN MOVEMENT IN NEf FUNDS At 1 Apn-l 2021 Cash flow At 31 March 2022 Cash al bank and in hand Bank loans 2. 140,558 182.2391 25 587 2.058.319 Net Funds Th8 nolgs on pages 22 10 42 form part of these financAal 5tstements Pag8 21

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 COMPANY INFORMATION The prin￿PaI activity of the charity is to provide care, assslance. support and relief of suffering amongst people are disadvantaged by Society the lo health cDndiliDns, age infirmity or learning disabiliti8sldifficullies knrithin England and Wales. The charity {registered number 02731429 and charity number 10132421 is incorporated and domiuled in the UK. The address of the registered office is 511 Walsgravè Road, Coventry, CV2 4AG. ACCOUNTING POLICIES The financial slalements have been prepared in accordanee with kcounting and Rewrhng by Charities.. Statement of Recommended Practice appli￿ble lo charilies preparing their accounts in accordan￿ wth the Financial Reporting Standard applirable in Ihe UK and Republic d Ireland IFRS 1021 (effective l January 20151- Charities SORP IFRS 1021}, the Financial R8POrting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. The Charity meets the definition of a public benefit entty undeA FRS 102. Assets and li8bililies are initially recognised al historical cost or transaction value unless olhemse slated in the relevant accounting policy notg1$1- Golng Con¢em In their assessrnent of going concem the directors have o)nsidered the impact of COVID-19, funding of the Care and Support Sector and the transfer of the Supported Living Service a￿1 associated on the company's operations. The DirecloTS considered that the transfei of the Supported Living service would remove the longer temi finanoa1 risks from a seNice which being impacted by the'.- al Rising costs of minlmum wage not being met fully ty the local authority fee increas8S b) The drffi(JJlly in recruiting employees and the Increasi￿ rising costs of agenw use thich has impacted the whole ol the Health and SocAal Care sector. The Accounts for 2021122 and the matter of "going concern. and the issues cited above was corisidered by the Board on the 12th May 2022 in the Finance & Strategy board meeting. The purpose of this meeting was to discuss the outcome of the enforcement action fr¢Jm the CQC and to d¢¢ide on the future ol the charity going fo￿aTd. They consideied the cash flow position and whilst they can conlirwn that knfe Path Trust will be a going concem in a year's time. they are aware that due lo the loss of contribution from the Supported Living Service. other avenues wll need to be explore to ensure the continuation of the charity loro terni. They are aware that diversification is needed lo bring in a wider range of CLSStomers so spreading the income base in order lo not become loo reliant upon any one income stream. The Gurrent forecast for 2022123 does show an overall significant defial for the charity, which is in part due lo the discontinuation of the Supported ￿VIng SeNlce. This is lo be expected Véhile other income streams ar8 explored and a r8du¢tion in overhead is looked into. Reduclion of ovethead has been achieved by the restructuring of 3 executive directorate posts to 1 senior leadership role. There has also been reduction in back office posts through natural wastage and outsourcing of HFi There has also been reduction of costs by working with suppliers. Tha davelopment of new projects through granl funding by explodng the potential of the site at Kingshill Nurseries has been identified as a priority_ There is also potential lo develop horbculluTrl qualifications for ￿Ople wth leaming disabilities and work has CA)mmenced on developing this project. Growth of th& respite Ishort breaks) service and new bugness was. considered lo be a priority over the coming 12 months. Page 22

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

In summary, the decision on Going Concern was made based upon:

a) The planning permission granted for the development of the site at Walsgrave Road which would generate a one-off income on the sale of the land

• b) The ownership of property and the income generated from Landlord Services c) Free reserves

Having regard to the above, the directors accept there is a material uncertainty as to the ability of the company to continue as a going concern, but they believe it remains appropriate to adopt the going concern basis of accounting in the preparation of financial statements.

a) Basis of consolidation

The Statement of Financial Activities and Group Balance Sheet consolidate the financial statements of the charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. The subsidiary companies have been exempt from the requirements to the audit of individual accounts by virtue of section 479A of Companies Act 2006. No profit and loss account is presented for Life Path Trust Limited as permitted by Section 408 of the Companies Act 2006.

b) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated fund comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of such designated funds is set out in the notes to the financial statements.

Restricted funds are those which must be applied in accordance with the purpose specified by the donor. Expenditure relating to these purposes is charged directly to the fund.

c) Income

Income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:-

• Income received by way of donations and gifts is included in the statement of financial activities when receivable. Legacies are recognised when the charity has notice of their existence and their value can be reliably measured, this is normally only once they have been received. Property bequeathed to the charity is recognised at probate value.

• Other trading income includes income from leases of properties to third parties (where the properties are occupied by beneficiaries) and investment income, both of which are recognised when receivable.

• Income from charitable activities include grants towards care and support of beneficiaries and supported employment income. Grants are recognised during the year to which they relate and supported employment income is accounted for when earned by the charity's subsidiary company.

Page 23

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 dl Govemment grants Grants are accounted for under the perforniar￿e model as permitted by the Charities SORP. Grants of a revenu8 nature are re¢ognised in the Statement ￿ Flnanaal Aclivrties in the same P8riod as the related expenditure. Expenditure Expenditure is recognised on an accruals basis as liabilities are incurred. Irrecoverable VAT is reported as part of the expenditure to ¥thlch il relat68. The fdlowing speofic polirAes are applied lo particular categories of expendilure=_ Charitable expenditure indudes those costs incurred by the charity in the delivery of its activities and services for ils b8n8ficiaries. Supported employment wsts represent the cost of sales and administrative and other costs incurred by the charity's subsidiary company. Governance costs include those cKJsts aswciated wth meeting the consts'tulional and slalutory requirements of the charity. Staff costs are allocated or) the basis of estimated time spent. All other costs are directly allocated. Tangible fixed assets Tangible fixed assets under the cost model are ststed al historical cost less accumulated depreciation and any accumulated impairment I0￿s. Historical cost indudes expenditure that is directly attributsble lo bringing the assetto the location and condition necessary for it lo be capable of operatin9 in the manner intended by manag￿nent. Depreciation is provided on all tsngible assets, excluding freehold land. al rates calculated lo ￿te each asset down lo its estimated residual value evenly over ils expected useful life, as follows'.- Freehold buildings- houses Freehold buildings- others Leasehold property Service furniture, fittings and equitmenl over Offiee fixtures, fittings and equipment over 50 years over 8- 25 years over peri1￿ of lease 4- 10years over 3- 5 years gl Impairmenl of redeveloped property All ne¥￿y developed property ¥those independent valuation falls below carrying value plus redevelopmgnl costs has additi(x)al depreciation charged lo il in Ih6finanLaal year that the retention monies have been aulhorised and paid. life path trust limited h) Stocks Stocks are valued al the lower of cost and net realisable value. Costs of finished goods indude relevant proportion of overheads. Nel realisable value is based upon estimated selling price less further costs expecled lo b8 incurred to (thsposal. Provision is made for obsolete and slow moving itsms. Page 24

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Debtors Short lem) debloTS are measur¥1 al transaction rAi￿, less any impaimierbt. Loans receivable are measured initially al fair value, net of transaction o)sls. and are measured subsequently at amortised cost using the effective interest method. less any impairment. Cash and cash equivalènts Cash is represented by cash in hand and deposits vAlh financaal instituti()s repayable ￿thOut penalty on r￿ICe of not more than 24 hours. Cash equivalents are highly liquid investments that mature In no more than three months from the date of acquisition and that are readily convertibl8 to kno¥￿ amounts of cash with insignificant risk of cknge In value. k) Financlal in$trum&nts The CA)mpany hdds only financi81 assets and finanLyal liabilities crf a kind that qualify as basic financial instruments. Basic financial instruments indude debtors and creditors. Debtors and (xeditors are initi811y recognised at transaction value and subsequently measured at amortised cost. Financial instruments Whe￿ future cash flows are anticipated, are calegorised as financial assets referring to fi'xed asset investments and debtor balan￿S excluding prepayments. and finanryal liatM"lrties referring lo JI creditor balances excluding deferred income and other taxation and so(#al security- Creditors Short lemi creditors are mgasured althe transaction pr￿. Otherfinancial liabilities. induding bank loans. are measured initially al fairvalue. net of transaction costs. and are measured subsequently at amortised cost using the effective interest melhcxy. Retirèmont benefits The group operates a defined conlribution scheme. The amount char9ed to the Slalement of Financial Activities in respect of pension costs and other post-reliremenl benefits is the contributions payable in the year. Differences betwèen ￿ntribUtiOnS payable in the year and contribLJtions actually paid are shown as either 8￿rU￿S or prepayments in the balance sheet. The Charity also operates defined contribution schemes including an auto enrolménl arrangement. Contributions to the s(emes are charged in the Stat8m8nl of Financial Activities as they become payable, in accordance the rules ofthe schemes. Operating leases Annual rentals are charged in the Statement of Financial Activities on a straght line basis over the lease temi. Page 25

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 3. Significant judgemonts and estlmales In the application CA the charrty's accounting pcAicies, which a￿ described in note 2. Trustees are required to makejudgemenls. estimates and assumptions about the carrying values of assets and liablities that are not readily apparenl from other sources. The estimates and underlying assumption5 are based on historical experience and other factors that are consdered to be relevant. Actual results may differ fKYn these estimates. The estimates and underfyrKJ assumptions are reviewed on an on-going basis. Revisions lo accounting estimates are re￿gnised in the period in ¥thich the estimate is revised rf the revison affects only that period or in the period of the revision and future periods if the revision affects the current and future periods. The trustees consider that there are no m8teréal judgements in applying accounting poticies or key sources of estimation uncertainty. DONATIONS AND GRANT INCOME 2022 2021 Donations and legacies Job Retention Scheme Other Govemment Grants 305,348 4,110 143, 187 126,916 CARE AND SUPPORT 2022 2021 S8rvice inc(me'. Social seNices Supporting people Short breaks 5,847,604 7.180, 125 6, 795 5.937.375 7,202,210 Residentl81 income 164 250 Page 26

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 SUPPORTED EMPLOYMENT Provision of gLK*Js and ServI￿S through the Charity. Newpath Ventures Limited, and other extemal providers. 2022 2021 Supported emkloymenl income 92 Cost of sales Admin and audit costs 53,814 254 233 39,545 251243 Supp¢)rted employment C05t Included within supported ern￿O￿nent is inc(#ne related to olher &xlemal provider5 of £18,128 (2021.- £5,373). Included wlhin supported empioym8nl are costs relat￿1 to other extemal provider5 of £19,027 {202q.- £4, 782). Page 27

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LIFE PATH TRUST LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 NEf INCOME Group Company 2022 2021 2022 2021 This is stated after charging= Auditors, r￿uneratIon audit Iparentl - other seNSces Hire of plant and machinery - operating leases 13.640 7.795 12,770 6. 780 13.460 12,770 21,180 29,747 21,180 29.747 STAFF COSTS AND REMUNERATION OF KEY PIANAGEMENT PERSONNEL The avwage monthly number of employees during the period was as follows.. Group Company 2022 2021 2022 2021 Central SUPFOrt Care and support staff linduiling operating, pr￿UctIon and day care staff) Administration staff 14 13 12 12 179 239 171 16 230 The average monthty numb8r of fulllime 8quival8nt employees during the period was as follows.. Group Company 2022 2021 2022 2021 Central support Care and support staff linduding otErating. production and day care staff) Administration stsff 12 11 11 12 128 14 173 17 123 14 179 17 In addSllon the group gave SUPFQrted employment and training to 32 peo￿812021.. 32). The a9giegate payroll wsts of employed persons were as fcllows: Group Company 2022 2021 2022 2021 Vvages and salaries Social secunty Pension costs 4.800206 329,161 131607 5, 742,245 426,827 156 052 4.627.606 319.495 5.582,695 416,577 152 539 Page 29

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL {continued) In addition lo the above, the cost of temporary stsff ijuring the year wa$ £959.574 (2021.. £686,205). Included in staff costs are redundancy payments tolalllng £20,044 (2021.. £NII). The number of wnploye&s whose remuneration exceeded £60.(￿0 was.. 2022 No. 2021 No. Between £60.000- £70.000 Of the emploY￿S whose annual r8muneralion exceeded £60,000, one (2021.. one) has retirement benefits accruing under a defined contribution s¢heme. Total employer wntributions in the year to the scheme were £2,040 f2021.' £2,040). Key management personnel conslst of the Trvslees and senlor management team listed on page 2, received aggregale remuneralion (including employers National Insurdnce and employers pension Conlrfbutions) of £110,555 {2021.' £186, 732}. The amount of remuneration eamed by directors and trustees in the year was £Nil12021.' £Nil). Tmstee expense5 Expenses reimbursed lo the trustees amounted to £Nil12021.. £NilJ. These related to travelling costs. There were no trustees who received r8imbursem8nts in the year (2021.. £Nil). Penylon Costs The group operates a defined contribution staff pension scheme incIL￿l￿g an auto enrolmenl arrang8ment. The assets of the scheme are held separately from those of the group in independently adminislered funds. The pension costs charge represents conlribuliDns payable by the group lo the funds and amounted to £131.60712Q21.' £756,052). Contributions totslling £23,437 (2027.. £69,239) were payable lo the fur￿8 at the year-end and are induded in creditors. 10. TAXATION No lialilrty to corporation lax arises on Ihe resulls of Ihe company or the group for thg year {2021.' £Nil). Page 30

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11. TANGIBLE FIXED ASSErs GROUP Assets under the course of Construction furniture, Ilttings & equlpment flxture$, Ilttlngs & equipment Land and buildings Total Cost or valuation At 1 April 2021 Additions Dlsposals 2.796,338 2,335 97.523 15.680 450,829 27,486 3,347,025 43.166 At 31 March 2022 27%338 113203 478315 Deprecwtlon At 1 April 2021 Charge for the year Disposals 1,369,106 70.734 83,210 5,576 401,020 28.818 1,853.336 105,128 At 31 March 2022 1 439 840 429 838 1958 464 Net book value At 31 MaTch 2022 COMPANY Assets under the coursg of constructlon Service, furnlturg, fittings & •quipment Offlce fixture5. fittings & equiprnent Land and bulldlngs Total Cost or valuatlon Al 1 April 2021 A¢Jdilions Disposal 2,796,338 2,335 97,521 15,680 160,892 17.820 3,057,086 33,50D At 31 March 2022 2 796 338 113201 178 712 D8prè¢latlon At 1 April 2021 Charge for the year Disposal 1,369,105 70,734 83,210 5,575 117,738 25,073 1.570.053 101.382 At 31 March 2022 1 439 839 88 785 142811 1 671435 Not book valu• Page 31

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 12. PROGRAMME RELATED INVESTMENTS Group Company 2022 2021 2022 2021 Shares in The C¢Jokery Path Limited Shares in Nev•path Ventures Limited al cost Loan to Newpath Ventures Limited Impaimienl of Loan to Newpath Ventures Limited Here to Help Consortium 1,000 341.187 1,000 267.49Q {217,922} f202.890) 126265 67 Newpath Venlur&s Limited and The Cookery Path Limlled are wholly owned subsidiary companies incorporated in England. N8wpalh Ventures Limited is engaged in primary purpose trading on behalf ofthe charitywhilsl The Cookery Path Limited is dormant. The martetvalue of their shares is equivalent to C05t. During the yeaf the company made a grant of £92,585 12021.. £44.698) and charged rent and an administrative charge of £20,292 [2021.. £20,292) lo Newpalh Ventures Limited. The 108ns to the subsidiary rx)mpanies are unsecured and interest free. A provision has been made against Ihe loan to The Cookery Palh Limited followng the Trustees decision lo cease operations in this company in July 2014. The value of the loan reff ects the net realisable value of the a&8ets held by th& CL)mpany which now stands al £Nil. A provision has been made against the loan to Newlh Ventures Llmiled to reff ect the net realisable value of the assets held by the company. 43. INVESTMENTS Group Company 2022 2021 2022 2021 Shar8s in Newpath Housing Limited On 22 July 2020 Newpalh Housing was sel tjp to be able lo deliver required Landlord Services to Citizens Vého live in properties which Life Path Trusl will be leasing from a Midlands based Housing Association. This ensures that Landlord and Support services are separate. The registered office for Newpath Housing Limited is 511 Walsgrave Road, Coventry, England, CV2 4AG. This entity was domianl in the year, and is 3 10DY• ovmed subsidiary of Life Path Trust Limited. 14. STOCKS Group Company 2022 2021 2022 2021 Stocks 42 Where stock for the group is held by the trading subsidiarie5. Page 32

LIFE PATH TRUST LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15. DEBTORS Group Company 2022 2021 2022 2021 Trade debtors Oth8r debtors Prepayments and accrued income 228.160 48,455 427.838 93,240 221,210 44,616 422,818 90.137 421017 426 349 420 630 16. CASH AND CASH EQUIVALENTS Group Company 2022 2021 2022 2021 Cash at bank and in hand 2 058 319 2 140 558 1970 288 2 108 801 17. CREDITORS: Amounls falling due wthln one year Group Company 2022 2021 2022 2021 Bank loans Trade creditors Other tsjalion and soual security Other creditors ruals 25,587 7t5,030 25.587 105,677 268,198 254.738 75.569 480.749 91,041 587,725 378.536 75,569 465.719 91.041 592.101 369 864 Page 33

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 18. CREDITORS: Amounts falling due after more Ihan one year Group Company 2022 2021 2022 2021 Bank loans Th& loans are analysed as fdlow8'. 2022 202t Within one year Befv￿n two arKI five years 25,587 The Company has one b8nk loan with Nalwesl. The loan is for £253,750 tsken out in 2012. The loan bears int&rest at 40/0 and is repayatAe over 10 years. The bank loan is secured against the properties lo ￿1¢h tt rdales, 37 Shuttle Street, Coventry. 19. RECONCIUATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVMES 2022 2021 Net income Depreciation Interest received Interest paid Decrease in stock Decrease in debtors Increase in creditors (450,7371 105,128 {1411 390 3.971 232,807 64,494 99,292 (816) 7.491 9,437 151,654 102 90 Net ca$h (used Inyprovided by operating activities Page 34

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 SUBSIDIARY COMPANIES The charity has three wholly ovmgj trading Subsidtaries which are incorporated in the UK. Nebpath Venlures Limited (Company number,. 02757473, Registered Office.. 511 Walsgrave Road, Coventry. CV2 4AGI operalesfunclion fa(#lities and 8 horticultural nursary, which provide 8mploym8nt for people wilh leaming difficulties. The Cookery Path knmited (Company n￿lber. 07682830. Registered Office.. 511 Walsorave Road. Coventry, CV2 4AGI ceased trading in July 2014 and was domiant for the year ended 31 Marth 2020. On 13 October 2020 Life Path Trust stuck off it's subsidiary, Cookery Path Limited. Th8 debl due from Cookery Path Limited of £179,223 whi( was fully impaired in 2014 when the company became (k)mianl has been waived in the year. The eompany was dissolved Comp￿￿e$ house on 20 October 2020. On 22 July 2020 Lrfe PalhTrust set up a newcompany, Ngwpath Housing Solutions Limited (Company number.. 12761300, Registe￿￿ office 511 Walsgrave Road, Cov&ntry, CV2 4AGI. This company is 100¥o 0¥￿ed by Life Path Trust Limited. The company has 100 shares in issue of 1p per share. The year end of the company is cotemiinous being 3110312022. This company has not yel began trading and so no adjuslmenl have t*8n made lo consolld8llon due lo this. All aclivities have been con5didated on a lj'ne by line basis in the SOF Financial statements are filed wlh the Registrar of Companies. A summary d the regjlts of the subsidiaries are shown belohw. Page 35

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 20a. SUBSIDIARY COMPANIES (CoTr￿1NuED) Newpath Ventures Limitpd 2022 2021 Turnover Cost of sales 218,601 167,024 39 545 Gross profit Adminislratwe expenses 164,787 127,479 260 708 Operating loss Grant from parent cc*npany 1108,616) (133,229J 44.698 ProfiU{Loss1 on ordinary activities before taxation {16.031} (88,537) Tax on lo&s on ordinary activities ProfiVILossl on ordinary activities after taxati The agg￿gate of the assets, liabilities and fund5 wa Assets Liabilities 148.574 366 496 83,625 Net liabilities 20b. SUBSIDIARY COMPANIES The Cookery Path Limlted 2022 2021 The aggregate ol the assets, liabilitie$ end funds was-_ Assets Liabilities Nel liabilities The Cookery Path Limited has been dormant since July 2019, th8 company was dissofved with Companies House on 20 October 2020. 21. CAPITAL AND RESERVES The charity is a private company limited by guarantee. In the event of il being wound up the lialilily in respect of the guamnlee is limited to £1 per memb8r of the c(wnpary. Page 36

LIFE PATH TRUST LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 FUNDS GROUP Balance at 1 Aprll 2021 Transfer bètween funds Balance at 31 March 2022 In￿me Expenditur8 Unrestricted funds Ger¢eral funds 2 929 895 6 903 980 7419422 202 816 2 211637 De5ignat¢d funds Service development fvnd Maintenance fund Property development fund 208,498 8,965 241686 {1,467) 266,465 (8,9651 473.496 459 149 740 182 Total unrestrfctod funds Restrictgd funds COVID Grants 21.437 68.881 12.7091 {79,684) 7,925 Coventry University Project Total funds COMPANY Balance at 1 Aprll 2021 Transfer between funds Balan￿ at 31 March 2022 In¢omo Expanditure Unrestrlcted funds General funds 2 928 662 6705 114 7 204 525 202816 2 226 435 Designated funds Service development fund Maintenance fund PropeTty developmgnl fund 208.498 8.965 241686 11,4671 266,465 {8,965} 000 473.496 45 149 Total unreslrlded funds Restricted funds Coventry UnNèrsity Project COVID Grants 6.000 Total funds Page 37

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 22. FUNDS {continued} Designated Funds Service development fund In December 2019 the board agreed to S8t aside a designated legacy fund to indude funds gifted to Life Path that can be used for value added servi￿$ for the benefit of ￿tiZenS. 11 is currendy being used to fund a vdunteer co-ordinator10 8SSiSt wilh the recruitment ￿ volunt8ers and creating and anaging the citizens board. Mainlenance Fund The trustèes have set aside desgnaled funds for the repair and maintenance of managed properlies and refurbishment of owned propertie$. Property developmgnt Fund The develowi8nl fund was established to S8t aside funds for future developments on Dvmed properties. Slggp-in Fund The sleep-in fund was set up duiing the year 8nd8d 31 M8rch 2018 as 8 contingenGy against the potential risk of the bad( payment to staff wlh regard lo th8 4eep-in issue Tomlinson-Blake v Mencap. The Supreme Court on 1S MaT¢h 2021 upheld the Court of Appeal Ruling that the National Minimum W8ge {NMR) does not apply lo sleeyn shifts unless the wotl(er is awako for the purposes of working. This ruling has now clarified the law and therefore removes the need for the designated fund as the ruling, removes the back pay issue. As such the balan￿ for this fund has been released in the year, via transfer, into the generdl unrestricted fund. Restricted Funds Covèntry Unlvgrslty Project This fund relales lo monies donated to be spent on a research project with Coventry Unniersity, to support people wth learning disalilities. GROUP- Compar8tNe Bala￿e at 7 April 2020 Transfer between funds Balance st 37 March 2021 Income Expendrture Unrestricted funds General funds 1977 855 7 821687 T T54 152 884 505 2 929 895 Design&teLI funds Service development fund Maintenance fund Sleep-in fund Property development fund 100,000 10.504 1.020,942 216 686 (4,478) 112,976 fl,539J f1,020.942J 25 000 208,498 8,965 247 686 1348 132 459 149 Total unrestricted funds Restricted funds COVID Grants 225 332 21437 Coventry Univorsty Project 6000 Tolsl funds 31987 416484 Page 38

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 FUNDS (continugd) COMPANY- Ccvnparative Balance at I Apnl 2020 Transfer belween funds Balancg ot 37 March 2021 Income Expenditure Unr8Stricled furOs GeneTrl funds Dfswated funds SeNic8 d•velopmenl fund Msintenance fLM Sle8P-in fund Pmp&ty developmenl fund 100.0(k) 10.504 1,020.942 (4,478) 112,976 (7.539) (1,020,942) 208,498 8,965 Total unr8slrKt8d funds Restricted funds Coventry Univerrily Pmi&ct COVID Grants 6.000 6,000 76 Tolal funds ANALYSIS OF ASSETS B￿WEEN FUNDS GROUP 2022 Flxed assets Net current Long-terni assets Total Unrestrict8d general funds Designated funds Restricted funds 1.433.727 777.910 740,182 13 2.211,637 740.182 2021 xed assets Ng1 current assets Long-lerm liabilities Tot&1 UnrestrFcled general funds Designated funds Restricted fvnds 1,495.689 1.434,206 459. 149 2,929,895 459, 149 Page 39

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 23. ANALYSIS OF ASSETS BETWEEN FUNDS (continued) COMPANY 2022 Flxod assets Net ¢urr9nt Long-term Totsl Unrestrscted general funds Designated funds Reslricted funds 1,545,417 681,018 740,182 2,226,435 740,182 2021 Fixed ossels Net Gu￿ent assets Long-t&mi liabilities Total UnreslriGtedggneral funds Designated funds Restricted funds 7,554.634 1,374,028 459, 149 27437 2,928,662 459, 149 41 24 24. RELATED PARTIES Robert Hall a trustee of Life Path Trust is the sole director of Hal Bros Ltd. During the year Hall Bros Ltd re￿Ived £231,525 (2021.. £258,590) from atizens supported by Life Path Trust and the balance due to Hall Bros Ltd as al 31 March 2D22 was £nil. Edward James Lamb a trustee cl Ltfe Path Trust p•d a £15 donation with his AGM fees in the year. Transactions with the subsidiaries are detailed in not8 12. 25. POST BALANCE SHEET EVEMr The CQC re inspected the Suppcrted LfvSng Service on the 15th March 2021 and were not satisfied with the progrgss made. The CQC h8ve therefore applied enforcement action Ir) the Supported tiving Service registration as the Service is still rated Inadequate and in special measures. The Trustees have made the difficult decision that despTte the efforts made to improve the service, In the light of enforcement action and the difficult the operating dimale that Coventry City Counul have been asked to find a new provider for tho Supported Living Service. This decision enables conlinuily of service to Citizens of ￿fe Path Trust and Iheirfamilies and employees. Thevalue ofthe Supported Living Service for the period ending 31 March 2022 was £5,142,564. Page 40

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 26. COMMrrMENTS UNDER OPERATING LEASES a) Les80r Th9 grwp eams rental income by leasing its properties to tenants under non-cancellable operating leases. Leases in which substantially all risks and rewards of ownership are retained by another party, the lessor. are dassified as operating leases. Payments, induding prepayments, made under C4)erating leases {nel of any incentives received from thglgssor) are tharged to the income stat￿ent on a straight4ine basis over the period of the18ase. At the balanc8 sheet date, the grcmjp had contraGled with tenants to reC￿ve the followng future minimum lease payments.. GROUP AND COMPANY 2022 2021 Not later than 1 year Lat8r than 1 year and not la18T than 5 years Later than 5 years 70.000 35,000 70.OQH) 35.000 b) Lessee At 31 March 2022 the Group had future minimum lease payments under nOn-can￿lIable op8rating leases as follows.'- GROUP AND COMPANY 2022 2021 Other Not later than 1 year L*eT than 1 year arml not later than 5 years 21.180 21,180 Page41

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 27. COMPARATIVE CONSOLIDATED SOFA Unrestricted Funds 2021 ReslrKled Funds 2021 Total Funds 2021 Income and endowments from.. Don&t￿n$ Other trading adiviligs.. Rental income Charitable aclivities.. Care and support Supported em￿Ym9nt income 143, 187 246, 769 389.956 95,30Q 95.3(Kl 7.366,460 215,924 T.366.460 215.924 Investments Bank interest received 816 816 Other TOTAL INCOME 7 821687 246 769 8 068 456 Expenditure on.. Ch8ntable a¢tiVili￿.' Care 8nd support Supported employment costs 7,467,842 290.788 225.332 7,693,174 290, 788 TOTAL EXPENDITURE 7 758 630 225 332 7 983 962 Nel incom8 and net movement in funds 63,057 21,437 84,494 Reconciliat￿n of funds.. Total funds brought forwan 3 325 987 331987 To181 funds camed forward Page 42