C¢mp•ny No. . 02731429 Charity No. . 1013242 LIFE PATH TRUST LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 IHIIIIIIIII •A(RzIY• 11108r2023 COMPANIES HOUSE A27
LIFE PATH TRUST LIMITED CONTENTS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Pag• R¥port of the Trusl8es Staterneni ol Trustees. Respon$ti•S 12 Independent Audilorfs RewNt 13-16 Consdidated Stalement of FKIal ti¢S 17 Balare Sheet 18 Consolid8t8d staiement ol Cash Flows 19 Notes to Ihe Flnan¢l81 Stsiertwnt$ 20-39
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The Board of Truste•s, who are the Dvectors ol Lile Path Trust are pleased io Ffesènl the Annual Report and Finaneial infom)ation lor the yeBf 1h8t finished on 31 March 2023. The inlorm81ion in thi3 report inclJJs the sUbsidry company Newpath venleS Limited in the group infcthiaih?n. Who r• wJ•7 Charity Name Life Path Trusi Lirnd Charity Regi5tFation Number 1013242 Company RegIstratic Number 2731429 Registered Offte 511 W•lsgravtr Road Coventy CV2 4AG The charity is managed duriNJ Ihe year by a Board of Tnjstees were.. Keilh Chapman Roberl Hall Edward Lam Phillip Rusk Judy Ryan (Cha) Philip Emsden Peter Manger Jon Baines Patricia 80gle Adam Hivts Diane Perry IR•4leeleiJ W March 2023) {Re4ected 3tO March 2023) {Resi9ned 21st October 20221 {Apwnied 2Pb February 20231 {Reswed 3111 December 2022) The Trustees havè some woftssi(x)a advtser5 10 help. These are: AuLlitors cro U.K. LLP Aquis House 49-51 81agrave Stre•1 Reading. BerkShe RGI 1PL Banker5 N¥lWesl 24 Broadgate Coventry CV1 1ZZ s1t01$ Hammons SolirAlors ktt>rporab"tYJ Payne Ski*'n9lon The Old Bank 353 Walsgrave Road Coventry CV2 48G Anth¢Jiy Cdlins LLP 134 EdmurM1 Str•el &rrningharn 832ES Page 1
LIFE PATH TRUST LIMrrED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Insur Brokers Arthur GaNagher Tempb Point 71h Fl•)or 1 Temple Row fmingham B2 5YB Pa9e 2
LIFE PATH TRUST LIMrrED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
An¢y to man89e the charity day to day the Trustees have 4)pointed stsff.
The Senior Management Team dwtng the was as folb)ws.'
Execvlive Direclor
Chief Execu've oificer
Head of Operalions
Difeclor ol Finance
Adam Hives {appoted 2P Febry 20231
th.ane Perry {ré51gned 3111 December 20221
Fogg lappoinled V May 2022- resJned 14 Juty 2022)
Caroline Milthell {apwnted 4th January 2022 - resigned 1V Juty 20221
The Trvstees are responsible for presenting an wwHJal (ep1 each yearMth finala1 stalemenls thal give
a lair and Irue view ol the aclivities of Lile Palh Trust. The report and slalement5 have been prepared in
8¢¢or
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure. gov•manc• and m•nag•m•nt The charity ¢#lled Coventry Homes lor Meniaty Handicapped Cibzens was formed in 1973 by a group of parents and concerred professKJnats In 1991, the charity vas Incorporated as a company Ilmited by gu8ran1ee wilh 8 Memorandum and Arti¢ks ofAssociaOon. set hL)W th• ¢harity Is lo be govemed and sobiectives 2CQ4, Ihe charlty chge ils name to Life Path Trusl Limited to reflect rne effectivety the work11 undertakes. In 2011, upd8le(l Arfths ol Assoo3lI were adopted. Exh year the charity's members elect a 8tsd of Directors are also Ihe Truslees of the tharity. Every yew thlrd ol the Trustees stand down. trtjtcan be redected ty the membership. If Ihe charity is up. members are requred to pay £1.00. All new Trustees ha an irKKlI)ft. whth indudes all man pi¢leS. Iha Chity Commission Wel abwt Trustee Sp(¥}$11lIie$. a role descriptrf>n loi Twustees, ch8rity'S Artide5 oIAssociation and other inlormallon about Ihe chafity's vth. New Trustees wrll also meel wlth the Chair and the Execvlive Dire¢lor for an inductlon inlo thek rok. The d¥y-to4ay runr¥ng ol the charity is delegated io the Ch1 ExecutNe and the Senior Managemenl le1. The Board of Twslees has e$la&d cemmbttees to loth . Fironce and Audil Strategy & Remunerali Each commlttee has a remit and there Is at leasi one Trustee rnvul¥ed. Th¢ Board ol Trusteés mèets every quarter lo supporl Ihe 8x8cubve team and algn more dosoty wilh ¢ommittee meeb'NJs. Strnteglc Aims Within Ihi$ fmwal ye¥r slrategt aims have remalned the same.. Slralegie Aim l. SustaiAaly"lity to ensure Life Paih Trust GlInUeS lo achieve ft5 Mis$ion and Vision lor Cilizens. CJjectNes include.. Contwe lo ddNtir. retawi arKI develop effective hgh Iwality services acxoss cwrenl areas of delivery. Re¢fuiI. Iran {provide approwiBle accre(Sled trainirg) aTrJ relaln high quality pyeeS to provide lo Cz¢ns. Strategi¢ 2. Enabl8 Cilizens of Lrf¢ Path Trusl lo INe their Ir¥es to Ihe full. All staff and •/olunteers Io¥1de Ihe best and seTrrfces lo en8bJe people to be valued. to de¥p arKI thieve. An slall and vc4unleers dehver Servlces detemined by the core v3Ms ol Lile Path Tru51. sliale9 Aim 3. D•veltsp and rnainlain the as50t base of Lrfe Palh Trust t¢ ensure maximum b•nefil achVed for existing and future Citizens of Life Path Trusl and the W•r communty. stratèg Aim 4. Innovale io ensure the future of Service deU¥ery to malnlain ndependenl, s8fe services for Citizens. Str8iegt Aim 5. Enhance ihe involvemenl ol atizens and F)Irl•S in Life P8th TnJSi Page 4
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Our A¢hi•¥•m•rts and Servlces Co¥•ntry Tralnlng Consortlum Coventry Training Consortium dd1ved trainirs wedominantty lo profess)nals in Ihe health and Social care 58¢10f ¥%ilhin the Coventry and WaTh¥ickshife a0. We are pas&onate aL¥)ul 9iVtny trainè8s lh8 skills orKI knowledge they nee¢J lo enai ttm to th Iheiriob lo It htghest standard and to provide good quality support lo users of they services. In the period Awl 2022 to March 2023 delive training lo 859 prol¢ss¢onals. citizens and volunte&s. CKJr work is funded by organisabor)s 1 indmduals who pur¢h4$8 training from ys. Cmjr biggest achievernenis this Wriling and launchkng cw new 24ay Autism rA)urse. The launch of our new bte aNI Facebts)k page. Training >tszens al lfjngthll Nurserjes in heallh and salety. fire awareness and mov)g and handling, Being the firsl Iraining provider in Ihe MJands region lo be trwrwd and apwoved io deliver the Oliver McGowan mandal¢xy trainirKJ in arTrThj dlsabilily and Aulism. This inclJdes training experts th livedoxperience ofa leamin9 (SabIl and Aukn.st experts Wilh bved experien¢e to co-deliver this trawling. Beginning the roll out of InI of ¥oSLFnleers at 'ngshI in safegLwding. GDPR. Equality. Diveisity and Inclusicffi. Heath and safety aThJ Leaming DisabTrlity aWaness. Conn•¢i2 Conne¢t2 is a Ewopean S(Kl Fwbj parfnership th•t engages vulneratle partripanls a9e(116+ who are unemployed or inaclbve #nd who INe Covenlry. Our ser¥ice help5 participanlsMlh 'baTrier baking, 511PPOrt lo re-engage ¥th educalwJn. trainig cff employmenl. We offer one lo one suFwJrt to access Work experience. volijntary ro$ and ernployatslity courses. Lile Path Trusl swjport people Vilh barriers to work such as aulism, learn¥19 disat¥"lIts. menlal health iSSLS and isolatitr) to address the obstacle tsl the job markel. We under51and Ihé uniwe and complex prtsblems whi¢h ¢an deter people from ernploymenl. This year we intensivety supported 16 people. 4 01 wkh fouThJ parf) emP0ymenl wilh our suFport whilst 5 progressed inlo e¢allOn or training C¢>nmunity Day Opportunlties Al day ops we 019anise varied activities. Gourse5. voluntary opportuniligs. trainin9 and s0¢i¥I gioups lo give people a ran9e ol opportunities and experien¢es. Our approach is always person-cenlred. wilh stalf supporting individuals lo idenrily whal Ihey would like to do in the community and linking up wilh others Wlth Ihe Same inieresis tsn • day by tjay basis. DtJrin9 the period April 2022 to March 2023 we supported 54 ¢ilizens to &¢ess Ihe $ervti. The service 15 predominantly fundÈd by local authorily and dire¢l payments. We a150 worked in partnership wrth Coventry City Council's Digital Collaboralion to accass digital equipment lor cilizens who are non-verbal to Provide opportunitles lor Iheffl lo enhance their communication using technolo9y. Thi5 has been a p051tive initiatsvè and wll now be expanded aGrtss$ 10 Ihe respite seThi¢e. Page S
LIFE PATH TRUST LIMrrED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 R•spit• I Short Br85 This ts a reguJate¢l service r3led ¥$'Good' •1 Ihe lime olow lasl CQC inspecbon. Respbte provides a shorl slay service to alkjw citizens and their famil5 or carers re9uLw breaks. We ddlver a high qual'ly of care addressing iVIdUal needs in a wgm). friendty and secure environment. Wè alsofadKtst8 transitK) shorl stay when ser¥i¢e uws acce55 reSle prior to moTrMJg to a long slay s8rvti. The short slay service is for adults vkno have a learng disakn"ty. howevw a150 svpwl people with athjilbnal needs such a5 m8ntal health. eFilepsy and physKal thsabil"b"es where they do nol reqLMre Ihe Ltse ol a h(¥$l. The $ervke Is for bolh rnen and women over Ihe age ol etrJhleen. The service 15 pre(Jominately lunded by local avlhority and direct payments although we do aceepi sell-funded individuals on reques1. This year 26 ClZenS accessed ih• servic£ aThJ all receive(J person. cenknd support plans engaged In a variely of alties. The respite buildirvJ is conb"nuing to undergo upgrades. ImwoTrin9 the quallty of the 8nvironm•nt lor thos8 thal use Ihe servKg. This year invested in a pollcy aThJ compliaThx syst8m ensures aN staff have bett¥ access to documentat¢cffj. We have also imFAemenled a system in partnersNp with the NHS call80 DOCOBO. Thi5 enabled the peopte we suFwi to ac¥ess haalth services V+ithtrJt allendin9 A&E, Iherefo aiding in ieducliLW of wailNig times aThJ a150 provi¢Jed a baseline ol obseThations to cliniclans surrounding an indwidual's heatth. Newpath Ventures- Xlngshlll Nurswy and Fow Sèason Functlon Room Nevyath provmles placemenls. Iralning, work exp8rie¢)ce and jobs lor people a broad spectrum of learning (STrsabililies wlhin holl11¢ (Kings Hill Nurseries} and varioL ¢alering operalions at lh• Four Seasons fijnction room. wo1 with people with amIng disatxlilks is central lo cullure of th• business and staff work in learn5 to help maxynise each worker's poleTrli. The company is run as any other commercial concern. bul wilh values of iaUs1on asplfatKm. Newpath w(ked wilh 35 tsli28ns this year. 32 within hor1icul1u and 3 at the 1vncll room 't¢1). L•ndlofd Servic This year Lile Palh Trust has set up a laThJk)rd serye wovhllng hrKJsin9 Iof those learng disabilities whitst support is being delivered by alher provlder. In this year we were Ihe ndlordS lor 24 people with 1garnin9 dis8bililiès. Support•d Uvlng Serwi Life Paih Trust has Undergone Swjnifrarbt changes %lIn thi5 finanual year. The bi99eSt Chge has been th8 CQCS removal ol re9istralN)n for Ihe Supported Living SeN¢e. the rK)W81ion ol the contr#¢l and the TUPE transfèrol 162 Sff and 160 Citizens to a new provxler. Thts has had an impad on Ihe organisalion's inccme and as a res1 has prompiefj an intemal rèstru¢ivre aThJ iniallI¥j Ihe sole ¢1 ow W8lsgr•ve Ro8d Rlsk$ and Unc•rtalnib•s The Truslees review the majof rlsks to the charity ai ea¢h board meetwty and update the ri8k reglster accordingly. Some risk5 may be degaled lo commlttees who rwlew the major risk5 using a risk as5essmenl tool, which ¢overs all afeas ol risk idenb.fied by Ihè Charrty Commission their report 'Charilies and Risk Mana9emenl' published in June 2010. This ensurès that we do not o¥¢1k any main rlsks and makes suwe Ihat we ale consistent about the way we locjk at ea¢h item. Against ea¢h identth.ed rbsk. Ihè control measures ihgt are in place are recorded and any fvrther act•)n requifed ts identified. The organisati'S s¢nioT monagèmenl team is responsible for taking any aclKJns required by the rtsk assessment. The ielevartl prqecl fisks are also reviewed at ea¢h Mmrniiiee meeling and ihèn iepcrfed into 8oard Meet9S so that it is a dynamic process. The mwn risks entIrd durirvj the year have been: Risk to svstainabdity ¢kn lo the novat#)n of the supported living servk• Change of CEO Page 6
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Rlsk to SUStainability dut to thg ngvation of lh• supported livlng ser¥l¢• The novalion ol Ihe 5UPPOrted Ibvin9 service has crealed a 9zeable loss of income lor the organi5al•)n. This corne ¢tributed significanlty to the overheads and thwelore ha5 fjrealed pr¢55ures durin9 Ihis linan¢ial year. Curreniiy Teserve5 are being ulilised vthAsi actiCS kn reduce costs and generale income are being implemented. These aclKins ilu(le Ihe $8kn ol Wals9rave RoJ sile •rbJ thts implemenlati¢ffi of8 an(jaI recovery plan which will work towards a full cost recovery modd. Lile Path Trust is exlremety focused on INgh4Juality service delivery lor citizens and has exce118nt prospects for dev81opmÈnt over the nèxi fmantial y8ar The Charity h85 relaineé all other5 Se¢$ with wew to gron9 communily-based ac11lIeS al day opporlunities. potential eXpanSn ol the rewle services and Ihe crea1 of a rw business stral¢gy at Kingshill nurseiies. Changes will be co-produced alon9side Ihose ¥%ith leamin9 disabilibes to ensure we have a high-quality ol service delivery moving ffyv481d$. Change ol CEO Life Path Ttusl appointed a new ExecJJtNe Director at Ihè erKJ of F•bnJ8ry 2023. Any chBrbye at 8 senior mana9emenl level Cixnes with potential risks around the direclion ol the organizatton and ensuring the candidale is Ihe right fil for the chan.ty These risk have been milpaated by a thorough recruilment process spanning a numbef of monlhs and Ihe new Executive 010r app(N"nied having 13 years tsl experiw¢e within Ihe third se¢tor. wilh maionly oflhis time in a Sen1 managomeni ro ai antsthercharity %thowork5 with people who have leaming di5abililie5. We are ¢onfKJent this appoffttmenl %bill bring aboul pos1ive chaThJe and collaboralively lead Ihe organisation loTh¥ard. How w• b•n•llt •v•ryon• The Tru51ees have made sure Ihat Lrfe Palh Tryisl lollows Ihe Charty Cofflrniss guN#ance on public benefil. Our Arlicles of Associatk)n show we beneffit the Publ and thal wr pracbces ensur¥ th8t anyone with a Itam9 (Si$ality can benèfil Irom the Charivs work. What are we doing an(1 how we get on? . Oiieclives and acttvities The objeciives as 9iven in the ArDcles of AsyKiatirM) are.. the provision ol car•, asststance, support and relipf 01 5uffewing amongst peoplp are disadvantaged by socieiy due io heallh condibons. age infirmty or learrn9 disabililiesldiffKults wilhin the area ol benelK" is England and wa5. The main activities of Ihe dwity 31 present We: Carn and supp This cowed supportin9 peoplè in Iheir own homes and provbJing personal care rf needed. The Supwrted LIn9 SeNi¢es was novated in July 2022. We 81s0 provKle care and support in our short Stsy sefyice lo people wih learnirvJ disabllies. Supported employmenl We pr()vide SUpled emrAoymnt lo peoplè leaming th'sabilils through our subsidiary Newpath Venlvie5 Limrted which runs a number ol businesses. We also support peoplè to lind work experien with omer employers throu9h our ESF Empbyment SuppNI Projecl Conneei 2. The Tfuslees havè decided thal Ihe objeclives need to be inrpreted ar¥J staled in 8 mowe useful way, has been done fvough Ihe mission slalemeni and key Vall gtven earfier in this repNI. In 2022- 23, yeai 4 01 a 5 year strategic plan ff*ant Ihat lo lh¢ siluation V•ith CQC and Ihe Supported Living S$rviGe operating in special Measures. prioiTrly VAS given to safety arKI susian8bilily ol ihe CrIty- The strateg aims and ot4ve$ con io be rdevant. Page 7
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Money. Flnancial R•vl•w For re aThJ &pport 2.557,526 uppcwted empl ent income 360.151 Donations. ifts granls 31,233 Rental income and investments 53,357 Pknn we s ond.. Running the 5er¥ices 3.718.59 Raising money Monoy- ftr¥ The Trustees have reviewed the Charrty's needs lor reserves in ne1h 9uarte issued by the Charity commisTh. The hokth.ng ol reseThes has been eonsKlered aorvjside major rlsks that the organisation is laclng at the time of the rewew. Ilsk management is ncw conshlered at every Quarterly Board meetin9. rhe Resuves Pdicy will be reWe on * •nrwal ba&s at February Finar Committee lo estabnsh.. what benefit there %%ill be in hcAdirvJ Sh reserves. 2. ltte levèl ol resewves reqJwe¢l ea¢h year. based on the and expeIle patterr) lor ihe followlng year. 3. what aCllon15 required io meet Ihe agreed le1 ol resems. in whal lorffl feseNes we kj be IJ. TYPE OF RESERVES HELD BY UFE PATH TRUST These lurKts are set aside lor a Sp pwpose. l op•rty D•v•lopm•nt Fund A large legacy was received by thè chxnty in the yèar ending 31 M8rch 2013 of t91.676 and pul into this new fund $0 tw n could be used devdopmenis. Tre 15 also an annual dorsati¢)n of£30,000 which is put into Ihis fund. It was agreed that this donatw be wl into this fvnd Irom year end 3141 March 2016 willb the that it ¥1 syow the fuTrJ. bl S•rvlc• D•v•lopm•nt Fd Thls is set asde tor any irome to ensure thal it can be used to develop value added seryices lor cits"zens. Tnese a resorye5 were lunds twe l)een provithd V*llh specbfic lerm5 as lo how thty are to be spent. This type of reserye can onty be rel8ased when the explicit costs are irKurred. Pa9& 8
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Charity shwld hohj unosiricled reserves for PLKP05e5: a) To ¢ov•r known lutur• •xp•nditur• To safe9uard Ihe Charity'$ servTrce ¢mItnIS in the Èvent that Ihere are delay5 in Ihe ¢eipt ol fur$ available io provide ttE Serve$ to meet our stated objeclives. There should be reserves lo be able lo meet 3 months runnng cosls. The reseryes will be cash backed wilh Ihe remainder backed by shm tgm) debtors. b) In the eveni ol Ihe Charily ceasww to OP8rJ ILmds ry kn501vency to enable Ihe thsing ol Ihe Charity. At Ihe yearond Ifte ièserves are £113.911 {2022.' £77T.g10) represenls 0.3 months operating ¢osis, Ovr aim is lo hol¢J 3 months ol operatiTh3 cosls in tree reserves to cover our cash fflow requiiemenls. Given ihe un¢ertainty of lun¢Jng for Ihe social cwe seclcrf the Tfustees a conscious ihat Ihe Ifee reserves need to be higher and wll consider this issue as part of Iheir ongoiry deosTron makin9 proctrsses over the next year. Monèy. Investment powers and perfomianc• The Arti¢les 01 Assoeialion wtyeh sk)vem the charity 9ve the Truslees ide powers lo invest any money. As money Is enly being kepl lo make swe we can run the chaiily effiClty. the money is lY invested in places thal are sale and aUch¥ u$ to get ts morw rf it is needed. During the yeer we earned £3,382 (2022.. E141) in inlerest ow cash baPdnces. onoy- Penslons Lilt Path Trust has a Slakehdderdefined contribuliorts pension scheThE that all slaff are eligible to jo•) after 3 months. Life Path Trust contributes 3% 01 salary of methrs lo the pensicn. The stakeholder pS)n s¢heme 1$ opwaie¢J by Aegon. on¢y- Setting pay for k•y slaff The Trus*es sei the pay ol key staff e8th year at Ihe same time that the pay scales fu all staff are a9reed. All pay scales are set by bernalking jobs against similar pbs in the charity sector and ow ability lo pay. Money- Major •v•nts A impact this year has been no¥atng the Sjpled Lmng servre in July 2022 back to thè local authority which has significanily UCed our irtome vels. However, il has also reduced our expenditure as Ihe siaff supp1 for ihe Sypptyied kn"vin9 semce w8$ TUPE translerred lo It new cwe wovider. Page 9
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 What are we goir@ to do next yearf The Iransler ol Ihe Supwled Lw•ig Sefyice to a new pro will mèan that lh• Trustees VAII need lo review the stra(eg difeclm of the Charity èuikling on the remainin9 business uftits and locing io devetop projects which contmue lo Sup[ the Visbjn. fvth.sslL and Valutrs ol the Charty To ensure Life Palh Tiusl continS to leVe sts kllsgon arhj ViSn for c11n5 Enable Cifr'zens of Lile P8th Tt lo INe Ihelr Ilves lo the ful Devekjp and maintain the assel base ol Life Palh Twst to ensure maximLTh benefit is achieved IN e¥isling and cilizerys of Llfe Palh Trusl and Ihe wder communily. ovate to ensu the tUre o15¢Trice de&"¥ery io mairrtairt indePenI. safe s•V1¢ for cilizens. Enhance Ihe w)¥oJvernent ol¢S1itens and famlies kn Life Palh Trust Through the way we delver serykes, se awareness thalleroe wllve stereotypes and alb'lud8s towards peoFAe with leammg disab.11¢$ Futur• Plons Our chan'ty has excits'ng plS for Ihe futu Ihal encompass mulliple areas of developmenl. Flrstly. we aim to enhae our KgS Hill nursery site by focugThJ on Ihe development of the furtion room. This wll enab us lo offer a versatile space for various évents and aeimties. creaiin9 adOIlKJnal OprtunItieS to enga98 th the local ¢ommunily and 9ener818 incLM))e bul rnore importanuy new opp)rtuNties for indivit1uals with disabilities tg access We are commttted lo IlUSiv1fy and empowemient, provtéing tailored IrainiTrJ and support lo foster person81 arKb prolessw)nal h. By expalA9 OUT services and offering inclusive Palhway5. we aim ID ereaie an enMrcfftmenl where everyone has equal opporturilles for success and contriLwtion. We are alsc) Ii)cused M increasing sales at CTC by introducing newlraining opporlunllies and implementing effective promotional 5trai6gies. To help 8chie¥e Ihis. we w1 be hirin9 a dedirAled commuThcabons offKer who will play a vitsl role.in Spre'n9 awareness about wr wograms. altractiThJ rnore participants. #nd •xpding our reath. Additionally. wé a ex09 expansion respte 5èMce to 8 second venue. By providin9 resplle care a1 support to Individua and lamilies in need. we can make a P05blive impacl in the lives of even more people. This expansion w1 alt(N# us to offer our swvices lo a widar commurnity, ensurlng Ihai ihose ho require rewxla caFe can aS il cMvenieThtly. Laslty, we recogntse ts imkwN1ance ol contintjous improvement and adaptn. In line with this. w8 we reVarn.ng our slraiegy in the thiryl and Iwrth quarters of 2023. This strats9 overha1 wll enatrAe us io belter align OLK effo, optimizè rèsource 4lk)Calion. and ertsure Ihe &1&Tht execulk)n ol ovr iriti#tNes, LAiirnalely maximiting th8 PotiVe outcomes ¢an achve through our ¢hariiable woik. Measuring Obj•¢tiv¢ At Life Path Trust. we are deiOmiw)e(I to meet (xif iargets and ensure ihe Ofganisation's finèncTral siabilily. To 8thi$ve Ihis. we have devised a rotrKJst financial re¢o¥ery p18n that wlll guidè us in managng our resources effeclively. By cl)sety moriioring our financial performance Ihrough Month manag8ment a¢counts, 0rseen by our finance manager. we can make inlorme(I decisions and take n8cessary aciitins io meet our financial teAgets. This protIVe approach will alb)w us lo idenh.fy any poièntial issue5 earfy on and implemenl approw8le meawres lo manl•"n financial he*th. Page 10
LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 In addilion Io Ouf financial tsrws, we defstand the irnFortance ol c0niirtLwY improving our services and outcomes for our service users. To track our progress in this re9ard. we will be implementin9 8 Monrtoring. Evalualion. Lewning IMELI slfalegy. This strategy will nvofve MonitIng the pÈrlorman¢e and progress of service Lbseis a9ainst bolh slandafdised and ser¥Ke-speryficbaselines and out¢ornes. By syslemalically collecting and aNalysing data. we can 9ain valuable insights into the ellectiveness ol our programs and interyentions. This infrnal40n will enable us to thnlify areas of immement. make data- driven decisions. and ultimately enhance the quahty d our ser¥ice5. Fundraising As parl ol the strategic fevthv the Charity Mll hxk community based lundrai5ry acINity. The charity had fundraising actiwtr¢s reqwwo disdoswe under S16ZA of the Chari"e5 Ad 2011. Provision ol inlorniation lo audilors The people vkno are Directors vknen this report is appre agree Ihat.. so lar a5 Ihey are aware. Ihere is no ai"l irtf0frna1 thal has nol been u¥ven k) tr AJitorS They have taken al Ihe sleps they should take to be aware of wy inlorrn?lion nee<led by Ihe Company sAuditor5 $0 they can prepare Iheir report. Audltors Cio%%e V.K. LLP has indicated its ilh"n9nè$s to be reappointed as sta1 au(litor. The Trustees have agfeed ihese finarKial slatemenls tsken athfw¢age of Ihe small companies exemptions prov•Yed by seCIn 415a of the Companies A¢t 2(. The Trustees FleFOrt has been aFyoved ty Ihe Board of Truslees on 20 Jvty 2023 and signed on their behall by.. Judy Ry•n Chair Page 11
LIFE PATH TRUST LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The Trvstees {who 8re also drguors of Life Palh Trusl Limited Icy lh8 k)urposes ol company law) are responsible lor preparing the Tfusle•s' Rp. and thè finan¢ial Statements in •GranCe wrth aprAt'c8ble law aThJ re9ulations. Company law requires Ihe Irusiees lo prepare fanCIal slalements I each finanThal year in accor¢Janc8 %%gth Uniled Kirigdom Generally AcceptedAccounb'ng Practice (United Kingdom A¢counlin9 Stsnd8rtlsl and applicat law. Undef CoMpY law the trust••s must noi aprnve the finaTal st8tsments un9$ Ihey are sats"Sfd 1hal they give a Ifue and lair eW ol the slate of affairs of ihe charitabk conyany and the group and of it5 net iKornin9 resource$ fof that perrod. In pieparin9 these financial ststements. the trustses are reqUId to.. selecl suitable accOL9 potleS aThJ Ih8n apply them consislentty". obseThe Ihe mellths and wncples in the Chanliès SORP". make judgmenis and e5twnate5 thal are re¥sonat4e ar pr. slate wheiher appkable accong staidards have been fdlowed. sut¥ect lo any materAI departlffes th5d05ed and eXained in Ihe finala1 slalements: prepare the finan¢kal statements on thè wng con¢wn unléss * 1$ irwprwate to presume Ih8t the charity will c¢>ntinue to opeoit. The TIu5tees are responsib lor keeping adequate accothting records thal are sufficienl to show and explain the Charitab cemwany's Iransactions discb)w wth reasonabke accuracy al any ts.me the fnancial potIOn oflhe ehafiiable company enable Ihem toen5W¢ that the ffinan¢ial s¢atem¢nts comply th Companie5 Act 2006. T1Y are 0 reswjnsible for safeguarding ihe assets of Ihe ¢harify the (yJp and htrnce fty takin9 reason¥blB steps lor the w¢vÈnl¥)n * detection of fraud and other irfegulaiit$. Page 12
Crow• U.K. LLP 49.51 Slreel Relthy INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF LIFE PATH TRUST LIMITED RGI 1PL. LIK Tel +41 {0)118YSg 7322 Fax +44101118 05ts 4640 Independent Auditor's Report to the Members Op¢nion We have audited the fjnancial statements d Life Path Trust Limited I'the charitable c(PanY') aThJ its subsidiary I'lhe group'l lor ihe yeai ended 31 March 2023 vknich wnpri5e the Consok"daieO Statemenl of Financial Aclivits, Tha Group and C¢)rnpany Balance Sheets. the ConsolKJated Statement ofcash Flows ar notes to the financial slatements. inchJdin9 SNJruficanl accounting Fdic5. Ttr financial reporling Iramewofk Ihal has beèn applied In ih"r PParab0ft 15 0FWitsNe law and Vniled Kingdom A¢Count9 Standards, In¢luding Financial Reportin9 StsrKlard 102 The Financial Reporfing Standard aPIcable m Ihe UK and Republ of Irelafid (Uniied Kingthyn Generaty Accepted A¢cowting Prace). In our opinion Ihe fmancial 51atemenlS". give a Irve and far vie•4 01 the stalè of thègroup's and the chant8trAÈ eompany's Offaws •$ ai 31 M¥¢h 2023 and ol Ihe grojp s income aTrJ expendrfure, ts the year Ihen entJed'. have been properly prepared in accordarte ilh Vniled "ngdoM Generally Accepted Accounlir Pr8cltce.' and have been prepared in aCCdanCe ith Ihe requiremenls of theComparMes Act 2006 and the Charilies Act2011. 8asls for opifiion We conducted our audit in accofdance With Iniemalional Siandards Audiling IUKI {ISAs IUKII and applicable I. Our responsitslrts under Ihose slandards are further deSCred in the Audilor's responsibilrties lor the au¢Jit ol Ihe financial STalements seclw)n ol pOrt. We are independent ol Ihe 9roup in accordance wth the ethical qUireMents that are vant to audit ol the linancial slatements in the LK. IlUdin9 the FRC'S Ethical Standard. and we have luifilled wr other ethical fegp)nsibililies in accordance wilh these re¢wiremenis. We b¢lve thai ihe audii evidence we have ¢)btained is sufticienl and appropnale to provth a ba515 lor our wrmon. Con¢lu$lons relating lo goin9 Coii¢evn In auditing Ihe linala1 statements, we have conclLMled Ihat Ihe trustees. use of the gn9 concem bags of accounb'ng in Ihe prepara11 ol the financial ststement5 is approprk?te. Based on Wofk we have perfomied. have not •Jenblied any matenal LW)cerlainties relatin9 to events or ¢ondilir)ns thai. individually N collecbvety. may casi si9nificanl th)ubl on the 9roup's abilily to ¢onl*nu• a5 a going concem for a perth of al 8st efve months from when the finanual slatemwls are aulhorised lor issue. (r responsibilities aThY the SpOnbIllI•S of the trUse$ bwlh fespect lo g(Mn9 concem are dascribed in the relevant sections ol this report. Ernphasis of malter We draw your attention to note 2 in ihe financial statements. whKh states that the truslee5 assessmenl of Going Concern is based on the presumplKJn thal the charity can sell Ihe laTrJ al Ihe Walsgrave slte. In the evenl Ihal Ihe property cannot be sold wilhin a reasonable timescale. alternative linancing arrangemenls may need lo be consideied As a resull of Ihe uncertainty arounE1 these events. a material ijn¢ertainly exisls which may cast doubt on the charity s ats'hty lo continue as a Goin9 Concem. Our opini¢x) is not modilied in respect lo Ihis matter_ Page 13
A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED Oth¢r Infomiatton The trustees are responslje for Ihe olher infrntion contalned wilhin annual POrt. The other Inf(Ymaiion comprises Ihe tnformaticrt) ir)cfuded irb ts anwal report. other ihan the fnancial statements and our 8udrtor'$ report Ihereon. Our OF¥niry) on Ihe fin?nclaJ sternents does nol cover Ihe other knformalion 8rKI, except to Ihe extent otherw•i5e expltttty stsled in w rewt. we do not express 8ny fomi of assurwc• conclusion therèon. r responsibility 15 to a the other infomalion )d. in doing so. n$14T ¥•theih¢r It othw Inlornalbn is materialty picon&stenl with th• fifilar ststements v our knowledge oblarned In the audit or Olherw15e appears io be rnateiially fflisststeo. 11 we Identfy sIh material IrteA¢18S or apparent m¥tarial mt5Stalernenls, we a required to detemiine vthelher Ihis gryes rlse 10 a maier¢al mi5sts1emeni in U anual stalemenls Ihemsefves. If. based on the woth ve have perfOrn0. we conclude Ihat th¢r¥ is o mater1 misstalerneni of ti¥s other inlorma1. ar8 re¢wired lo re that tscl. We have ThJlhin9 to rewt in thbs regard. Opinlons on other matters pr•scrfb•d by lh¢ CLYnpanlps Aci 201)6 In our oplnion based on the w)rk undertaken in the COU ol our audrt the inlormalion 9fftn in the trusttes. report. whrh in¢kth5 Ihe d¥•clcKs' report prepared fcff the rpos¢s ol cornpany law. Ihe financial year lor wh¢h the fffiancial slaternenls a prepared Is consistenl wth Ihe fin1•1 stalements,. aThJ Ihe diieclor5' report included W[(h Ihe lrnslees. fewl have been Prepa In a¢cordan¢e th applicable legal reqLdremenls. lIatte on vthkh we ar• r•quiwed to r•port by exception In Irghl of Ihe krw)wfedge and uthlwstanthThJ of 0UP and ctharitable company and Ihetr envlronment ct)larned in the course of the audm. we have not Ndentrfd matwial mi55tatements kn the directows, report included within Ihe trustees. rekKJrt. Wè have nolhiAg to repryl n respect ol Ihe followng matters in relatA7n to vthich the CoMpanS Act 2006 requires us to report to yov il. in our opiny)'. Jequale and wopw rec(ds have not been kepi: the finanoal slat8mgnls are not in agreemenl with Ihe accoimtrry recor¢ts aThJ felums: or certain th"scJosures of trustees. r•munerdfr"orr specifrtd bylaw are not m&Je.' have not received al the Inlcmiation and explanatbons we require for audiL' or Ihe irnJees were nol enbJed to prepare Ihe finarKial statements in accwdance wth Ihe small Thpani8s regime and lake •Jvantage of Ihe $mall c(xrpanies' exemptti)s In preparlng the trust••s' report and Irom ihe rèquirement to wepwe a Strateg report. ResponslbllStles of trust•es A5 explalned more lully In the truslees. respthsibdrtles statem•nt page 12, the trust•es (who are also Ihe ¢ye¢1¢Y$ of Ihe chariiabl• company lor Ihg putposes ol CLvnpany lawl ar8 rgyn5iblè for Ihe prèparation of the financial slalements lot being satisfi&d that they give a true and lay •w, and lor such internal control as the trustees deterryyne s necessary to enabb Ihe preparalicn ol financial stalgmgnls that ar¢ free from matenal missiat•ment. whethw due to fra1 or error. In prepaiing the fin8nclal statements. thè trustee5 are pS1 assessing the clFaritèbk ctynp8nfs abllY lo ¢orrtinue as 8 90ing ¢oncern. discbsing. a5 rAble. mattets related to going ccrfKern and using Ihe wng C¢sneern basis of a¢¢ounknrrtJ lesS the truslees e[1[ Intend to liqdate the charilablo CoMpY ly 10 ¢e85e (wation5, or have Tr) ie¥bfyc altemalive but lo th) so. Page 14
A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED Auditor's responsibilitres for the audit of the finan¢i•l ststements Jr objectives are io ¢)btain feasonable assvrance about W[hel ihe fmncial statem8nts as a whok a Iree from matefial misslalernent. whether due lo fraud or effw. a1 to i55ue an auditor'5 reporl that includes our opsnion. Reasonable assurance is a levd of assurar. but is not a 9uaranlee that an auth'l conducted in accordance vilh ISAS IUKI will 8fv4ay5 delect a meiial misstatemenl when 1¢ exists. Misslai¢rn•nts ¢an 8rise from froud of error and are ¢onsiderèd malerial rf, individually or in the a99regate. Ihey could reasonably be e¥pected to inlluence the econtynr¢ (kn"5Ths ofusers taken on Ihe basis ol Ihese [ancIal slatements. Details of the extent lo which the audit was cSIdered c¥pabk ol detecling irregvlarilies. induding traLKI and n(<0MplIanC@ wilh laws and wulations are set out beknv. A lurthef description of our responsknlities lor the au¢Jt of the ftnanrial statements is bcaled on ihe Financi31 Reporting Council's websft• al.. www.frc.o .UklaItO1sT nsibilili&s. This descriptron ltym$ Part of our audkor'$ report. Extent lo whkh tho audit was Considered rapable of delecl5ng Irr•gularltles. Includlng Iraud Irr8gularitiÈs. inc1lIng fraud. a insw¢ès ol nDn<oMp1ia wlh lawsarn1 fegulations. We i¢J¥nlified and assessed the risks ol materiJ mis51alefflenl ol the fin8noal $tatements from reguiariti6s. vknether due to Iraud or error. and liscussed Ihese betwn our al1¢ learn. We then deggned and pert(Kmed aLKlrt procedl$ resp$1¥8 to those rtsks. inckKJn9 obtsinirwJ audil evide suffrient and appropriate lo provide a basis loi ow opinion. We obtained an understanding ol the legal and fra%rS within whth ihe charitable company an¢ group 0rates, locusirvJ on Ihose la and fe9vlations that have a direct effect on the ¢eterminat)n ol malerial amounls and disclosures in Ihe financial statemenls. The laws and regdaiitsn5 we consi¢Jered in this conlexl wer8 th8 Companies Act %XIS, th8 Charitses AGI 2011. together 1h Ihe Charits'es SORP IFRS 1021. We assessed Ihe required ¢tynplian¢e wilh these la a)d gulationS as part ol our audit procedures on Ihe related fina1¥1 staiement ilems. In addition, we cons•Jered provisv)ns of other laws and regula15 thal c50 not have a direct effecl on the financial slalements bul ¢0mlance wrth whid) mighl be lundamentsl io the charitable company s and the 9roup's ability lo operale or to awd a rnaterial penaly. Vlealso considered Ihe opportunits and irKentives thal may exist wilhin the charitstye company and Ihe 9roup for IiaiJ. The laws and regulalions we consider8d in Ihis conlext lor the UK OperalnS CQC Regulati$ for servte pyovthrs and managers, the C8re Act 2014. Gènèral Data Proteckn"on Regulaln (GOPRI, Heallh grvj safety W"$Lat. and Employmenl le951a1. Auditin9 $tandards limit the requi outht predre$ lo idenlify non-cLYnplianrL wilh tlse laws and re9ulalion5 to enquiry of the TrustÈ8s and Olher manag8menl aTrJ inspectw)n ol re9ulalory and le9al correspondence. if any. We tdentrfEd Ihe greate51 rk ol malerial impxt on Ihe financial slalements Ifom irr¢gularili05, including fraud, to be wtthin Ihe recognition ol cerf8in income sireams, and th• overrkle of eontrols by management. Our audTI proceclvres lo respond to Ihese fisks ncluded enquiries of rnanagement. and the Finance Commiiiee abtsut their own Kleniilicat)n aNY assessment of the risks ol ifregularities, sub5tanlNe testing on in¢orne. wple tesling on Ihe posting ofioumals. rewevAn9 accounting estimates for bièses. reviewn9 regulalory correspondence ilh Ihe Charity Commissicffl. and ¥eading rninules of meetings ol those ¢hafged wilh g)vernan¢e. Owng lo the tntfenl limitations of an audit. ihere is an unadable risk Ihal we may not hav8 detected somg maleiial misslatÈment5 In the finan¢¥l ststements, even though we have prowly planneil and performed our audit in accwdance wih auditing standards. For example. the ILKther femoved non- com13nce wih laws an¢Y wuktions Irregularities) is from Ihe events and tranSactnS feftected in the finantyal stalemerKS, Ihe less likety the inhereftity ¥miie¢J kY¢)¢edwes iequire¢J by a3111n9 andariJs wouky identify il. In addibon. as wAlh any audit, lhe remained a hKJher wisk of nleCtIOn ol irregularilies. as thes8 may involve cdlusion, forfm. inten131 omissions, mipreSents110rl5. or Ihe overrwje ol intemal COnlro15. We are r1 reSpsIble for prevenlirrfj nOn<nlar£¢ and cannoi be exrrtted io delect non- compliance bwth all laws and 18tS. Page 15
A Crcme INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED ol our r¥port This report is m>Je to the charrtab trynpffj's members. as a boty, in accordance wlh Chapter 3 cl Part 16 of the ¢panIeS A¢t 2ff. (kn audil has been undertaken so that ryhl state to Ihe charrtable company's members Ihose maiters we are required to slate io them in authlor's rep¢)rt and lor no olher purpose To Ihe fvirest extent pemilted by law. we do rtot 1 01 assume fesponsibility 10 anyone other than Ihe chafitable ¢ompany ¥nd Chaable company s mémbers as a bcty and the charilable ¢(Nnpany'$ Irust¢e$ 05 ¥ bxly. work. l(W IhK% feport, Ic the ¢w"nions have med. Janelle Joyce seni Siutory Audltor Fry on b•half of Crowe U.K. LLP Stalutory Autht¢r Reading Date". 3 Augusl 2023 Cr(Me U K. LLPis a¢ry¥himenias L*•rty fvy as of a conyny undei seow 1212 01 ts c&8r85 Aa 2rTh. Pwje 16
UFE PATH TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDA TED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Notés Ufiièstricted Funts 2023 R•stiicl•d Fund$ 2023 Total Funds 2023 Tolal Funds 2032 kn¢¢Jme and end¢)wrn•nts frorn: Oonaiions Other Ifading 8Cts"viiE5'. Rental income Charitable activities". Cale artd support Supported employmenl income Investments Bank interest received 31.233 31,233 3T4.429 49.975 49.975 95,850 2.557.526 2.557.526 6,097,023 360.151 360.151 337,g53 3.382 141 Other TOTAL INCOME 3 002 267 72 Exponditiwe on.. Chafitable acty"vil*s." Care and SUP[rt Supported ernOYment costs 3.374.075 3.374,07S T.097.651 325 947 TOTAL EXPENDITURE 742359 N•t incom• and n•¢ mo¥•m•nt In funds 1716.3261 (716,326) (450, 737J Rgconciliati¢n of fund$: Toial funds brought forylard 2 9S1819 2 965 744 3416481 Total lunds cath•d forward The notes on pages 20 tc• 39 ftym part of these ffinancial statemenis Page 17
LIFE PATH TRUST LIMITED BALANCE SHEET COMPANY REGISTERED NUMBER: 02731429 31 MARCH 2023 GROUP COMPANY 2023 2022 2022 FIXED ASSETS Tangible asseis Investments Prowamme related inveslment5 1.349AOO 7.431. T2T 1.341,024 1,419. 151 13 12 1 433 727 1545417 CURRENT ASSETS Slocks Deblors Cash at bank and M) hand 14 15 16 53.679 294.$6S 860 993 38,087 703,288 284.067 832 375 692.175 1309237 2.799.694 1.116.442 2.662,463 CREDITORS.. amrths falling due wilhin one year 1 267 677 121 NET CURRENT ASSETS NET ASSErs 22 CAPITAL AND RESERVES unreStrted lunds. General lunds Designated Iwids Restricted fund5 21 21 1,46S.311 770.182 2.211.637 740. 182 1.466.311 770.182 2.226.435 740, 182 Inclucknl wilhin the gioup Sutts is a deficrt" of £730,124 (2022.. defi¢A £434. 70fj) respecl ol Le Palh Trust Lnited. These finala1 stat&nenls been w¢p¥ed in acc(Yd8nce wilh Ihe Spe81 pro¥ig(B relalirnj lo comparmes subj.ect lo Ihe small ¢¢xhpany 9111 within Part 15 rl the C¢ynparMes Acl 2006. The Iinancial Slaiemen15 were approved arKI aUlhISed for iue by the Board anil t1we sgned on ils behalf on 20 Juty 2023. Judy Ryan The notes cl) pay$ 20 to 39 knn part of these fwwKial 51alemen15 Page 18
LIFE PATH TRUST LIMITEO CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash Il¢)ws from £)p•ratlng a¢tlvltloS: N¢1 ¢a$h lusod inVpro¥•d•d by optiating a¢tivili95 18 11,183.0041 113.237) N•t ¢a$h used in inv•sting aclivili•• Puichase of property, planl and equipm¢nt Bank interest receivabl# 117.7041 (43,166J 141 Not cash us•d in imi•stin9 Xtiviti•s (14.322) 143.025) Cash flows from finaneiny acttrvit4e$ Inler¢s1 paid Loon repaymenls (390) N•t ¢a$h us•d In lknwclng xtI¥l•S Ch•ng• In ¢¥sh ar¥J ¢¥sh •qthalents in the r•portiDg pwbod 11,197,326) (82.239) Cash and cash ¢qulval•nts at i b•ginniThJ of the r•porting pofiod 214055 Cash and cash equivalents al th• •nd ol the reportin9 period CHANGE IN MOVEMENT IN NET FUNDS AtiAw 2022 Cash fiow At 31 March 2023 Cash at bank hand Bank loan5 2.058,319 (1.197.326) 860.993 Net Funds The nDte5 on pages 20 to 39 fimm part of Ihese finanual si*emeniS Page 19
LIFE PATH TRUST LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2023 COMPANY INFORIMTION The prineipal charlty is to prowde care, assistance. SLWPOrt arKJ relitf of SLTrffering amongsl Ople ale ¢sathantaged by society thje lo heallh ¢orKlitions. age infwmily or learning (Jlsabiltlie51th"ffKultieswilhin England and Wales. The charity{regi$ler¢d numb•r 2731429 and charity number 10132421 is incorpwated and domKiled in ts UK. The addrèss of Ihs re9lStera(J olliGe is 511 Wals9rove Road. COvery. CW2 4AG. AC¢OUNnNG POUCIES The financlal staiements have been wep3f8d In aOrdanCe wilh Acc(yffitiftg Rporting by Charllies." Slaiemenl of RecoMMed Practice applicable to charftbs yeparlng Iheir a¢¢ounls in accordance wilh the Financlal Reporbn9 Standard apie#ble in Ihe UK and Republlc of Ireland IFRS 1021 leffeclive 1 January 20191- ch"tS SORP IFRS 102)). Ihe Fln8nda RepuYlin9 Standard appluble In the UK and Republ ol Irdan¢J IFRS 1021 and the Compans Act 2006. The Cwty meels Ihe defin11c ol a benefit enlity undef FRS 102. Assets liabifrties are iniijally recogr¥sed al his1or eosl crf transactkn value Un$$ othewse staled in the rel•vant accounling pcl¢y note{sk Going Con¢ein In their assessment ol th? goiThJ eortcern Ih¢ leclor5 have ¢51dere(l the ¢urrenl impact of the b)5$ of the supported living service overall re5trU¢lu ol the wganisatson, has had 8 svJnifKant Impact the campany's flnaws and opuatr)ns. The organisation has be•n abkn to susta"n, Ihrough Ihe use ol reserves. arKI allow time for reslnKluring to provbye lime lor Ihe sale or Walsgrave roa¢J. Ion generat ar cost reductth activits"es. There will inewtably bé some drain on Ihe charits rrVeS in the sh0fl4erm, IN)N%ver t1 LW9afIs8iK ts lorlunate lo be abl to draw UF¥X) these lo provK1e a $J1r1ean( buffer dLving thi5 wjmirrfj perK>d. Ow main goal is Worki lowaids suslaw)ability and $nsurirKJ robusl finartknal planning Ihal looks beyond in¢ome generaled Ihrtyjgh Ihe site sale and IcSseS on lontem) prittsses and practi. In thè fOrtOrning year Ihe dit01S believe it aFqYOW"ate to ad(yl Ihe goiNJ cortem on the basls afr. Thè sale ol Walsgrave road wthich VAII Cle a SAtric?nt Injècti of cash. although Ihis may lake lo 18 months to comFlete. Once findised. wiu also reduce annual costs of DJnn9 and mainiaining lh sile. Planning permi$5)n has been 9ranled for KiThJs Hll offices. which in medium-term f&ds inlo our cosl reductKJn pbn a5 ihe buddiryJ will be exlremety CoSt-eff1ent. We wll also be gtLFated on land for vknich hdd Ihe freehold wlh improved access and communlcatth. This 11 also alltsw us to conso1laIe our facilrtEs. phasing out conlracis from W31sgrave road ar k)wering ovetheads. This wll 1 lead to a reduckn'on in costs and ihe 8ning perrnission inth'cales thal steps ale beiry tak towards increased efficlency and Ihe long-tern sustainability ol Ihe organisalt¢yi. Restru¢tuiin9 01 different busi$ area to rekeve finar181 pressu services Excellent prospects gerwath.on for CTC. Re5Pte and Kingshtll nursery. Clear financial recovery and sustxlnatxh'ty 9n orking towards lull cosl rVery withln sefw¢e5 provAled. Cost re(hJ¢iion - specifKatty prc¢urement and across rren1 seryice contracts LPT a55e15 thai be flnanced to add sh(x14errn cash as conltrgency whlst charily 15 iow¥ds susiabrfrty. Pe 20
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 8as5s of consolidatlon The Statement of Financial Acth"vhies aNJ Group Balance Sheel consdidate the finandal statement5 of tharity aNI ils 5ubsKliary urNlertakin99. The results ol the $ubsKliaries are consolidaled on a line by line b05is. The subshyiary companies have been exempt Irom tF requirements to Ihe avdit of individual accounts by virtue of seclbon 479A of Cornpanses Acl 2(thS. No kvofii and knss 8Ecouni is pr&seni&J fty Life Palh Trusl Limiled as permitted by Seclion 408 of the CompaNes A¢1 2. b) Fund a¢countlng General funds aro unre$trKted fvnds are availablè lor use al the dknretw)n of the trustees in lurther8nce ol Ihe gewal objeclives ol the charity and havé not been désignated lor other purposes. Designated ld ¢omwi5e Lmweslricled fdS thal hav• be8n set as1 by the trustees lor partiwlar PLirpose5. The aim and use of such designated funds set OLJI in the notes 10 the linancial stalem•nls. Restr¢ied funds are those which musl be apphed in x¢(w¢Jance v+ith thè purpose specffjd ty Ihe donor. Expenditure relalin9 lo these F4Mposes 1$ thar9ed direGIty lo the funcs. Income Income 15 induded in Ihe sialemwt of fmangal actIlIeS ¥then the thaiity is legalty entitled to the income anLS Ihe amwnt can be quanlified wilh reawable a¢¢wa¢y. The lollowng $pecrft p¢Ai¢ies are ale to particular categories of irthme... Income r¢¢eived by way ol ¢Jonaiion5 and grfts ts inchjded in the $tateft7ent of financial actNilies when receivable. Legacies are recognised when the tharity has wtiGe of Iheir exisience artd th•ii value can be reliatsy w8sured. Ihis is nomialty onty tw have been received. Property bequeathed to charity is recogThsed at probale value. Olher tradir¥J Yrne ldeS frryn leases 01 proFtrs to third parties I#re Ihe properties are oCcud by beneficiawsl and iftve$trr)eni in¢ome. both ol whth are recogniseil then feceivable. In¢rJme from charitable a¢b"vilies indude gran18 towards care and support of benefarleS and swporled employrnenl incorne. Grants a recognised durin9 Ihe year w wh¢h Ihey relale and sworted employmenl incryre 1$ accounted lor kn eamed by Ihe charity's subsidiary ccfflpany. Page 21
LFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 d> Gov•fnmenl grantg Grants are aCcIrIte for uftd•r the pwlmance mcJel as perynitled by ts Ch8filie5 SORP. ants ol a revenue nalwe 8r¢ recognised Ihe Statement of FInanC Acts¥itS in the Sème period as the related expendituwe. Ewnditure Expendilure is recogwmsed on wuals l>asis a5 lthlties we irwxrT•d. Irrecoverabl8 VAT is reported as part of Ihe exper#JiturE lo bthch it lales. Th• folowry specific policies are applied lo parfKLAar calwrie5 01 expenditure... Charllable expen(%ture e$ Ihose cosls wujryed by ihe ChaTY in the delivery of ils acts'mties and SerwS its beneficaaries. SuppNled ernOYMent costs reFYesent the cost of Sales and admini51rativ& and olheT Costs incurred by Ihe ¢hwty's subsKliary comp8ny. Govemance costs Ilde those costs ass<Kialed wlth wl1rj ihe cons1iiut4 and statutory rewjwemenls of the charity. Staff costs are allocated the basis ol eStid lime sPt Al other costs are th.CtlY allocated. Tangibl• flied ass•ts TarWJlb fixed assets under Ihg cosl mcéel are stsied at historical cost less accuMu1ed deweciaDon and any acoJmulaled lmpat1fft losses. Htstorical cost indLths expendilure Ihal is threcuy allrlbutable to bringiro the asset to the locatson and conditmjn necessary for it lo be capable ol coeraiing In the manner intended by managent Oepre¢I10n is provided on all lavJlble assets. eXcI11n9 freehold laTrJ. at rales calrxjlated to write eath assel to its estimated re5idu value eventy over ils expected useful Isle. as lollows."- Freehold txJédings- houses Freehold l)th"i1ings- others LeasehrAd property Service lumrture. fillirrfjs and equnI over Offi¢e fixtures. fith'n9$ #nd etylpmenl over years over 8- 25 years over period of kase 4- 10years over 3- 5 yea15 Impoirment of r•d•veloptd pr4)p•rty All nèw6y devebped property VAse independeni falls carrying value plus red¢vdopmenl Gosts has addilitsna deprecian th8rg8d to it in the finarKial year thalthe retentlon m¢N¢s have baen authonsed and paid. h) Stocks Stwks afe valued al Ihe h)wer ol cost and ret realsable e. Costs of finished goods Include rdevant pfOprKlrt of ovetheads. Nel relS8ble value is based upon estimated seling price less lurther rosis expecled lo be in¢urred to dlspos& Proviskjn is made lor obsolete and 5k)w movir item$. Paye 22
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 O¢btors Short lemi debtors are rneasled at Iransaclion Fffice. less nmpaim)8nt. Loans receivable are measured Inilially al laf vakne, net of transxtion cosls. and are meawr8d siJbs8¢w8nlly at ¥mortised cosl using the effgrtive inlere51 melhod. ss any impairment. Cash and cash •guiv3lents Cash is replesented by cèsh in hwd and deprts With financial instilution5 repayable Wbthoul penalty on notice ol not mofe Ihan 24 hours. Cash equivalents af8 hKJNy IK4uid investments Ihal Malv in no more than three months from datè ol acwisition and that are readily convertible to kmwn amounls of cash with in5wnrfKgnl risk of change in ¥ae. kl Flnanclal Insirum#nt$ The Company holds onty finar1¥S5ets and fmwKial habililies ol a kind that qualify as b8Si¢ financial inslrumenis. Bas financi inslrumenls ivde deblors and ¢re¢Jilors. Debtors and ¢rethlors are inilialty recognised at transaGtiffi vakA¥ and subsewpntly measured 8t amortise(f ost. Financial instruments where fUtsJ cash flows are anbcipaled, are calegtyised as fman¢ial assets ferring lo fixed asset investments and deblor baiqnces excludry prepayments, an(1 rinancial liabilils relerring to all credrtor balaeS excludin9 delerred I)me and other laxation and social security. Credltors Short lerm ¢reditws a Measu at t Iransath"¢)n ¢¢. Oiherfinan¢ial lbIllIs. including bank ans, afe measuréd inilially 31 fay value. nel of transactK)n ¢0515. are rnea5wed subsequenly 81 amortised c051 usin9 Ihe effedive intere51 melhod. R•tlr•m•nt bwwfits Thè grtsup oporaies 8 (Jefina(l ¢oniributi(M sctwne. The arnounl tharged to the Slatement of Financial Ac11b"eS in fespecl ol pensKJn costs and other posl-reliremeni tnefitS is the conlribulions payalje in the year. Differe$ bewn Contr1tll1(S payabk in the year and e¢)ntrfbulu)ns actually pahj are Shth as either accrua15 prepayments in the balance sheet. The Charity also operale5 defined cwtribLilt(ffi schemes includn9 an auto enrolm8nt arrangement. Coninbulitsns lo Ihe schemes are charged in ihe Stalement ol Financial AclNilies as they become payable. w) accordance W(h ihe rules ol Ihe schemes. Operoting •e Amual rentals are charged in Ihe Statement of Financaal Aclivities on a straighl line basis over Ihe lease term. Page 23
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 3. SignlllcantJudgem¢nts and •stlm•ie¥ In ihe appIaTr"On of the charly's accounting polKies. whlch are dexirb8d in note 2. Tiuslees are reqL#red lo rn&eiudgements. estjmates and assumplws aboul the Cry¥l9 values ofassets and liatihlies that are not readily apparent from other s¢)urce5. The estin8tes and underlying assufflplions are based on his1al experience arKI Olher ladors that ale considererj to b• revani. Aciual results may differ frtyn ¢he58 estirnales. The estimat•s arKI undertylTh3 sssumpt•ws ae on • m-9olng basis. Revtsions lo accounbng esiifflales arè recognised ptrrv)d in WWI the esbmaie is revis il the revisi affecls Only Ihai pewiod or in Ihe perhc¥a ol the revisicn and fviure per¢ods il ihe revisiC¢n affects the eurrent and future perlids. The truslee5 CsIder that theo ao no merial w1geThl$ in aPp'rfj accounting Oiaes ¢y key swrces 01 sb'malKffi urrtainty. tM)NATIONS AND GRAPIT INCOME 2023 2022 Donations and lewes Job Retention Scheme Other Govemmenl Giants 31.233 30&548 4,110 CARE AND SUPPORT 2023 2022 Service nccrfne.. Social seTr7COS Resp5te care Short t¥gaks 2.217,258 189.291 1847.604 2.406.549 5,937.375 Residential income Page 24
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 SUPPORTECI EIAPLOYMENT Provtsion ofgoods and servus Ihrwh Charity. Newpalh VentUS L¥nited, and othere¥temal providers. 2023 2022 Supr*rted eMploynt inccffie Cosl of sales Admin and audif rA)$1s 43.772 53,814 SUppled em0ment cosl IncluLle<J within supported eMoYDrt ts ortie rtkted lo other extemal providers of £20,554 (2022.. £18. 1281. InclL#led within supted eftW0nt are cosls related lo othgr extemal p(OVKlers of £20,627 2922_ £19,027). Pag0 25
LFe PATH TRUST LwrrED P¥)TES TO THE FINANCLAL STATEAIEMTS letTIlE0) FOR THE YEAR ENDED 31 IAARCH 2023 TOTALWÉNDITURÉ T•MI 20X siaff costs 2.L7JY5 18X11Z 13295 12SI.1D7 13296 OIB.I 185851 fl.028 &Z04.031 .574 943 22017 137.651 959.574 56.943 Z2.017 38.222 52.T48 31.331 6&752 27.422 15.792 27.422 75 63.9D2 31552 4n 63.2 6.829 4J75 571 52.740 ¢wofsa 723 153.612 31.469 X&)28 Traffl¥ R¢peits & m•fie 611 1N119 9S015 &337 tl.947 3299 5th087 231.666 1th.383 IQtrTO 4.2 51.759 23T.O 105.128 1&5B5 f2. 111,539 179At8 ¥9215 15,$95 1715 &715 Audrf tees 111.538 re5owce5 exp• r70X1S0IE1*.4(?2.rl2.I. Pagg26
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 NET INCOME Group Compwy 2023 2022 2023 2022 This 15 Staled after thargng= Auditor$' remuneration aui*l Iparèntl - ttr See5 Hire of planl and machinery - operaling leases 15.635 6.095 13,640 7, 795 1S,635 13,460 9.163 21, 180 9,163 21,180 STAFF COSTS AND REMUNERATIOM OF KEY MANAGEMENT PERSONNEL The average M1hty number ofempknyees durwvJ the perul vtJs as Iw$.. Grow) Company 2023 2022 2023 2022 Central suppe Care and support staff linduding operating. producticfj and day care staffj Administraiion 5ff 14 12 IT9 17 171 12 11 The average monthty number of kAl¢iffle equivalent omployees thJring the wiod was as l¢)Ilows". Company 2023 2022 2023 2022 Cenifal support Care and support $18ff lindudiThJ operating. production and day care staff) Administrath"on $taff 12 15 128 11 io 123 14 k) oddtln the 9roup 98ve supptyied empwment and Iraning lo 35 people12022.. 32J. The a99regate payTdl cosls ol employe{1 pwsons were as lolkyws.. Group Company 2023 2022 2023 2022 Wages and salan'es Social se¢ttrily Pension costs 2.1)64.773 4.800.206 190.330 329. 161 61 757 1,897,038 179,235 4.627,& 319,495 128 022 Page 27
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 STAFF COSTS ANO REMUMERATION OF KEY MANAGEMENT PERSONNEL leontlnu•dl In addiliw to the above. cost of tarryoiwy staff du¥ip8 Ihe ye¥ w8$ £4rKJ.429 (2022.. £959,574). Included slaff costs ale redkw)dancy payments totalirKJ £2.426 12022.. £20.044). The number ol empbyees whose FeMUra11on exceeded £60.orxi was.. 2023 No. 2022 No. Bdwa8n £f)O.IX4). £70.O¢X) Of Ihe employees whose remuwal• exceeded £60.CW. none (2022.. one) has relwement benefits arxruin9 under a defined ¢ontrib 5cherne. Toial empb)yw nITIbutrIs in Ihg year to the sd)Y We £Nil 12022.. £2.040). Key management person1 ¢onsrst of Ihe Truste¢s and senky rn?nagement le8rn fisted Dn page 2. received ag9iegaie Temuneration {including enwoyers National kn5urarKe and employ¢is pension CortribulKJ)s) of £102.75712022.. £110,555). The amount of remuneralbjn •amed by arKI tius1 in the year was £Nil12022.. £NI). Trus1• expen E¥pen$s reinbur$ed lo twstees anwnted to£35312022.. £Nil). These related tts Irav¢MirvJ costs. Thér¢ w¢re no Imsiees who retsived reimbLYsements In the year (2022.. £N#J. Penslon ¢osts The gr¢up opèralts a definèd £trI1x11jn staff psnsion stheme w)¢luding an auits enrolmenl arrangernenl. The assels ofihe s¢lwne are held separately Irom Ihose of ts group in independentty adminisiefed funds. The peThsK cosis ¢h8r9e represents ContrilI)nS payabltr by the group to Ihe funds and amounted lo £61.757 13022.. £131,607). CC11110n$ tolalling £5,21312022. £23,437) We payable to Ihe lunds ai th8 year-end and a included in creditors. 10. TAXATION No liability to crAp¢Y*ion tax on th¥ r¢sutts ol the ¢owy or thp group for the year12022.' Page 28
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11. TANGIBLE FIXED ASSETS GROUP Ass•ts und•r th• Land and ¢ours• of buildings con8truclion S•rvic•. fumltur•. flttinys & equipm•nQ Offi¢e Ilxtur•s, litlings & equipment Totsl Cost or valuation Al 1 Aprl 2022 AthjitnS Disposals 2.796.338 5.385 113.203 11.362 478,315 3.390.191 17,704 47 AI31March21Y23 658 3391717 Depro¢lOn Ai 1 April 2022 Charge for the year Oisposals 1,439.840 71.138 88,786 5.797 429.838 22,279 1.958,464 99.214 At 31 March 2023 1 510978 444 86 462 77 N•t book wal At 31 March 2023 Al 31 Alarch 2022 COMPANY A$s•t$ under ihe course of construction S•rvic•, lumiture. lilllngs & •qUiPfnent Offic• fixtur•$, tittin9s & •quipmenl L•rKI and buiklings Total Cost or vpluatlon Al 1 April 2022 AddiD'ons Dispos91 2.796.338 5,385 2J35 956 113.201 11.362 178.712 3.09D,$86 17,704 At 31 March 2023 116 Oepr•ciation At 1 April 2022 Chaige for the year Dispo$81 1.439,839 71.138 88.785 5.797 142.811 18.079 1,671.435 95.014 Al 31 March 2023 1 S10977 Net book vatue Al 31 Mar¢h 2023 Al 31 Marrh 2022 Page 29
LIFE PATH TRUST LIMITEO NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12. PROGRAMME RELATED INVESTMEiirs oup Company 2023 2022 2023 2022 Shar•s in Newpath Verures Llled 81 ¢ost Loan lo Newpath Veniures kn"rThted Impairment of Loan to Newp8th Ventwes Limited Hefe to He Consortiwn 1,000 301.494 1,000 341, 187 1237.4211 (217,922) Newpath Ventures Limited is a %%tholty owned subsidiary company incorporated in Eryland. N8wpalh VentLves Linited is erwd in primary wrpose trath'rtg t)n behaH of the charity. During the year Ihe charity wrwde a grant cl £112.457 12022.. £92.5851 and charged renl and an administratTr tharge of £20.92813022.. £20.292) lo Newih vertyS Liniied. The loan to Ihe sub5thry is UnSere 1fitest free. A pro$10n has been made againsl Ihe Irt io Newpa¢h venr•S Lifflited 10 reflecl Ihe nBt rea145atrAe value of the assels held by the company. 13. INVESTMENTS Group Comp•fty 2023 2022 2023 2022 Shares In Newpaih HtsJ5in9 Lirnrted On 22 Jvly 2020 Newpaih Houslng was set vp lo be able to dofiver required Lartthord knices lo "tizerbs who live in properties Lfj Path Trusl will t leasing from a Midlan¢ts based Housing Ass¢xiation. This ensures thal LaThJl¢rd and Support services are separale. The ccffipany has been dormanl sin¢e in¢orpor811on and (5ssofved on 23 November 2022 as it was no longer required lo fulfil the group's $lre9ic ams. 14. STOCKS Company 2123 2022 2023 2022 Siocks Where stock lor Ihe group Is l*kl by the IradiNJ subsithwes. Page 30
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 1S. DEBTORS Group Company 2023 2022 2023 2022 Trade debr$ Olhef debtors Prepayments and accn income 172,737 23.047 228.Ifll 48.455 169,027 16,661 221,210 44,616 426 349 CASH ANO CASH EQUIVALENTS Company 2023 2022 2023 2022 Cash at bar and in hand 17. CREOITORS: Amounts faming due wthin one year Group Company 2023 2023 2023 2022 Trade creditors Othèr iaxalion and social security Other creth.tors Acciuals 125,530 268. 198 101.137 254.738 17.008 70.976 75,569 480.749 443 161 17.008 70.976 75.569 465.719 Page 31
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10. RECONCILIATION OF NET JNCOME TO CASH PROVIDED BY OPERATING ACTIVITIES 2023 2022 Nef income Depreuaiion Loss on disposal Interesl received Interosl paid Deueas6 in stock Decfease In dobttys IOecreaseylrKfea5e Mi dittr$ (716,326) 99.214 81T 13,3821 (450, 737) 105. 128 (141) 390 3,971 232.807 11S.$92) 408,723 P4et cxh {used InVprovid•d by opva¢ing •Ctlvitles P8ge 32
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19. SUBSIDIARY COMPANY The tharily has one vknliv ovmed active tradir#J subsidiary whKh is inc(y>rxaled in the LIK. Nth VentLwes Limite(I (Company nntser.. 02757473. Re9iSttred Office." 511 Walsgfave Road. Covenlry, CV2 4AGI operales lurtlion facililies a hOrtUrtUl41 nwsery, wh¢h ¢V1<1¢ employment lor pÉOe with lening d1ificults. rirt9 the year Lile P8th Trusi struck off rts olher subsidiary. Newpaih Housing Solutions Limited (Company number.. 12761300. Regislefed offe 511 Walsgrave Ro&J. Covenlry, CV2 4AGI. This cornpany was IlJ)% owned by Life Path Trust Limit. The C1panY was dissolved wlh Companies House on 23 November 2022. As ihe company had noi carrie¢ oui any trad¥)9 this rkjes noi have any impact on either this years ry the prewous years profrt figure. All activities have treen as0dated a Ine-by-lirp b?515 in Ihe SOFA. FinarKial slaternen15 are Iled wilh the Regislfaf ol Companies. A swnmary ol Ihe result5 01 Newpath Ventu5 Limiled is shown bel(.. N•wpath V•ntur•s Llmlt•d 2023 2022 Turnover Cost of sales 227.661 278.601 Gross profil Grarbt fr< paient Charty Adminlstrativè èx¢ense5 183.889 112.457 315è45 164, 787 92,585 ILossl on Ordin activities before taxal {19,499 (16.031) Tax ¢)n lo on ordwiary a¢livibes {Lossl on ordin¥y aclivlis after taxai¥ The aggre9ate of Ihe ass$t$. kabdrti¢s •thJ was". Asse 101.171 148.574 Nel lialylities 20. CAPITAL AND RESERVES The charlty is a vate company limited by guarantee. In Ihe evenl of il being VAyund up the liability in respect of the guarantee limited 10 £1 per member ol the company. Page 33
LIFE PATH TRUST LIIITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21. FU14DS GROLIP Balance at 1 April 2022 Yrwsf•r b•twee lund$ Balanc¢ ?1 31 March 2023 Income Expendltur• UM•strict8d lund$ Gwwral lunds D•$lgnal•d lunds SeNice development fund Property developrnent fund 473.496 473.496 Tot•1 unrèstricted fuNJs Restrictèd funds COVID Granls 7.925 7,92S Coventry Univorsity Prol•ct ( Tot•l funds 74 COMPANY Balance ¥ 1 April 2022 Tran5f•r bètw••n funds B•lanre at 31 Mar¢h 2023 Incom• Exp•ndltur• Unrestrict•d fund$ Gener81 funds 2264 Designat•d funds Service devdopmeni ld Propèrty devdopment lund 473.496 473,496 740 182 30 000 770 182 Total unr•$tri¢tod funds Restricied furlds Coventry University Prryect COVID Gran¢s 6.000 Tot•1 lund5 Page 34
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21. FUNDS l¢ontlftu•dl D•slwated Funds S•rvieè dwdopm•nt fund IA De¢ember 2019 the b08rd agreed to S aside a de5ignaled legacy lund to include funds gifted to Lrfe Palh Trusl that can be used fcff v4ue added semces for the benefit of CItenS. Property development Fund The development lund was estabh'shed to set aside lunds lor Tuture develLynents on owned properties. Restri¢i•d Funds Coventry Unlv•rslty Proleet This fund felaiès to moniès donated to be spem on a research projecl with Covenlry University. 10 supW people wilh learning dLsabiltties. GROUP. ComparatNe anc• al I Tron$ler bel4vèen lunds 8•18n¢e at 31 Mor¢h 2022 Expend#ure 2021 Unrestri¢t¢d lurtds Gereral fvnd8 422 Designated fvnds Sernce d6velopmonl fun A4ainf8n8nce lund Property developmert furKY 208.498 8.965 (1.407J 2fj6.465 (8,965J 473,496 459 149 740 182 Total unrèstncted funds Reslricled funds COVID Granls Covgntry Univ¢rsA"ly Pmied Tof81 lunds Page 35
LIFE PATH TRUST LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21. FUMOS (cOn¢bnd COMPANY. Comp8ratN8 BaTèrtce at qAwi 2021 Transfer beÈween Balanc* 81 31 March 2022 Expenditure Unrsslritled lunds 202 Desgn8ted funds ServKe devdopment fund Maintenance fvnd 208.498 8.9fj5 41 (1.467) 266,465 (8,965) 473.496 459 149 Tof81 UnsErIC18d funds RestrKled lunds CovenrryUnNerY Fhie¢t COVID Granls 8.000 Total funds ANALYSIS OF ASSETS BETWEEN FIDs GROUP 1073 Fix•d assèis Net ¢urr•ni 8SSgts Long.1grm li•bilTrt•e5 Total Unre5tricled general fimds Designaied fun(Is Rostrieted ILmds 1.351.4Crf) 113,911 770.182 1.465,311 770,182 2022 Flxed 8ssel$ Nel currert gssets Long-term liab-litie$ To(al Unreslricled general fvnds 0osJ9nalsd lunds Reslrict8d funds 1,433,727 r77,910 740. 182 2,211.637 T40. 182 Page 36
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF ASSETS BETWEEN FU14DS Icontinu•dl COMPANY 2023 Flx•d asset$ Net cwr•nt Lory4tmi assets liabilities Totsl Unre5tri¢led 9enero1 Designated fund5 Restricted funds 1.408.097 58.214 770,182 1.466,311 770,182 22 Fixed afsels Nel current LLwJ4erm assets halknties Total unStriC1ed gereral lund$ Designated funds Rostrided lunds 1.545.4f 17 681,018 740. 182 2.226.435 740, 182 23. RELATED PARTIES Rot*rt Hall ¥ trusiee ol Life Paih Trusi s ihe sole directry of Hall Bros Ltd. During the year Hall Br05 Lld received £Nil12022.- £231.52S) from cil¢zens supported by Life Path Trust and the b3lance due to Hall Bros Lld as al 31 March 2023 was £nil. Judy Ryan a iruslee of Life Path Tmst paid a £5 ¢knnèttJn with Iw membershy lee in thè yÈ8r. Philip Rusk. a Iruslee of Lrfe Palh Tru51 PaKI a E35 donation wth hbs membership fee dwwg the year. TTansacbon$ with Ihe subsidories •e ¢J¢laMed in note 12. Page 37
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 COMMITMENTS UNDER OPERAT4G LEASES a) L•$sor The gr¢xp eafns la1 inC¢M by lea%"ng Ms pYopertle5 to ienants under non-can¢ellable operating leases. L8asesin vknich subslanlially all rlsks and rewards ol ownwshlp are retained by another party. the lessor, art das&fied as Oalin9 leases. Payments. incJthg ppayMen1s, made under op•rating leases In81 olany rn1"ye$ recèivèd from ihe lessor} are ¢h¥ged io ihe income ststemt on a straight4né basls over the p8rlo¢J ol the lease. Al the baL3nce sheet dai¢. the grwp had ¢ontrxted *ith len¥ftts lo receive Ihe following lulure mlnimym base paym¢nls". GROUP AND COMPANY 2023 2022 Not lafer than 1 year Later Ihan 1 yeaf ano no¢ later than 5 years Later Ihan 5 years 3S.000 b) Lessee At 31 March 2023 the Group had mlnNI)um lease payments rer rYth<arLeli8tle operating leases as lo#ows'.- GROUP AND COMPANY 2023 2022 Other Not later than 1 year Lbter Ihan 1 year and nol later Ihan 5 years 9,163 21.180 Pa9e 38
LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 25. COMPARATIVE CONSOLIDATED SOFA UNestrKled Furtls 2032 ReriCIed Funds 2022 Tolal Funds 2022 Incom8 and enthiwfflenls from.. 305,548 68,881 374,429 Olher tr8dirtg adiwlies.. Renlal income Ch*able actwities.. C8r8 and &upp(xl Supported efflWoymenl income 95.850 95,850 6.097.023 6.097,023 331.953 331,953 InStman1$ Bank inieresf recei 141 141 Other TOTAL INCOME 6 972 861 EXpendilU on.. Charilabl& aclwilies.. Carg and supp(xl Supported gmployrnent Cosls 7,094.942 2,709 7.097.651 325 947 325 947 TOTAL EXPENDITURE Nel income and nel movemenl in lunds (516.909) 66,172 (450,737) rr8nslor 79.684 {19.684J R8corKilialion ol Ivnds." rotal fvnds Ix¢wghl fonvwd 3 389 044 3416481 Tot fvnds carried fward Page 39