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2024-03-31-accounts

Company No. . 02731429 Charity No. 1013242 LIFE PATH TRUST LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

LIFE PATH TRUST LIMITED CONTENTS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Truslees ststement of Trustees, Responsibilities 12 Independent Auditor's Report 13-16 Consolidated Statement of Financial Activities 17 Balance Sheet 18 Consolidated statement of Cash Flows 19 Notes to the Financial Statements 20-39

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Annual Report The Board of Trustees, who are the Directors of Lrfe Path Trust, are pleased to present the Annu81 Report and Financial infomiation for the year that finished on 31 March 2024. The information in this report indudes the subsidiary company Newpath Ventures Limited in the group information. Who are we? Charity Name Life Path Trust Limited Charity Registration Number 1013242 Company Registration Number 2731429 Registered Offi 511 Walsgrave Road Coventry. CV2 4AG The charity is managed during the year by a Board of Trustees who were: Keith Chapman Robert Hall Edward Lamb Phillip Rusk Judy Ryan (Chair) Philip Emsden Peter Manger Patricia Bogle Adam Hives (Company Secretary) Dlrector and Trustee Changes Executive Officers resigned within year period: Trustees resigned with year period: Patricia Bogle- 2211112023 Trustee Re-elected Judy Ryan - 2211112023 Keith Chapman - 2211112023 Philip Rusk- 2211112023 Robert Hall - 2211112023 Edward Lamb - 2211112023 The Trustees have some professional advisers to help. These are.. Auditors Crowe U.K. LLP R+ Building Reading. RG11AZ Bankers Nalwest 24 Broadgate Coventry CV1 1ZZ Solicitors Hammons Solicitors Incorporating Payne Skillington The Old Bank 353 Walsgrave Road Coventry CV2 4BG Anthony Collins LLP 134 Edmund Street Birmingharn B3 2ES Page 1

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are responsible for presenting an annual report each year with financial statements that give a fair and true view of the activities of Life Path Trust. The report and statemenls have been prepared in accordance with the Statement of Recommended Practice (SORP) 2019 for Charities and the requirements of Ihe Companies Act 2006 using the Special Provisions of Section 41SA of the Act relating to small companies. And to manage the charity day to day the Trustees have appointed staff. The Senior Management Team during the period was as follows: Executive Director Adam Hives Ourvision People with learning disabilities live their lives to the full. Our Mlsslon To provide the best support and services to enable people to be independent. Our Values Choice: To have a choice in how you live your lrfe who you live with where you live and work Rights: To have a right to live the life you want to have your own home support to achieve your ambitions Inclusion.. To be able to (with support if needed) be involved in decisions aboLrt your life have your views and ideas listened to participate in your local community To be given a chance to study and achieve qualifications have a proper job with proper wages follow leisure pursuits of your choice Independence.. To be able to look after yourself as much as you can make your own decisions b8 SUPPOrted where necessary Responsibility: To understand that all the above carry responsibilities you need to accept those responsibilities you may need support to understand those responsibilities OpF)Ortunity: Page 2

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structure. governance and management The charity called Coventry Homes for Mentally Handicapped Citizens was fomed in 1973 by a group of parents and concemed professionals. In 1991, the charity was incorporated as a company limited by guarantee with a Memorandum and Articles of Association, which set out how the charity is lo be governed and its oiyectives. In 2004, the charity changed its name to Life Path Trust Limited to reflect more effectively the work it undertakes. In 2011. updated Arlicles of Association were adopted. Each year the charity's members elect a Board of Directors who are also the Trustees of the Gharity. Every year one third of the Trustees stand down, but can be re-elected by the membership. If the charity is wound up. members are required to pay £1.00. All new Trustees have an induction, which includes all the main policies, the Charity Commission leaflet about Trustee responsibilities, a role description for TTUStees. the charity's Articles of Association and other information about the charity's work. New Trustees will also meet with the Chair and the Executive Director for an induction into their role. The day-to-day running of Ihe charty is delegated lo the Chief Executive and the Senior Management leam. The Board of Trustees has established committees to look at.. Finance and Audit Strategy & Remuneration Each committee has a remit and there is at least one Trustee involved. The Board of Trustees meets every quart8r to support the executive team and align more closely with committee meetings. Strateglc Aims Wilhin this financial year our strategic aims have remained the same.. Strategic Aim 1. Sustainability to ensure Life Path Trust continues to achieve its Mission and Vision for Citizens. Objectives indude.. Continue to deliver, retain and develop effective high quality services across current areas of delivery. Recruit, train (provide appropriate accredited training) and retain high quality employees to provide support to Citizens. Strategic Aim 2. Enable Citizens of Life Path Trust to live their lives to the full. All staff and volunteers provide the best support and services to enable people to be valued, to develop and achieve. All staff and volunteers deliver servI￿s detennined by the cor8 values of Life Path Trust. Strategic Aim 3. Develop and maintain the asset base of Life Path Trust to ensure maximum benefit is achieved for existing and future Citizens of Life Path Trust and the wider community. Strategic Aim 4. Innovate lo ensure the future of Service delivery to maintain independent, safe services for Citizens. Strategic Aim 5. Enhance the involvement of Citizens and Families in Life Path Trust Page 3

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our Achievements and Services Coventry Training Consortium Coventry Training Consortium provides specialised training primarily to professionals in the health and social care sectors within the Coventry and Warwickshire area. Our mission is to equip trainees with the essential skills and knowledge required lo perfomi their duties at the highest standard, ensuring high-quality support for the users of their services. From April 2023 to March 2024, we delivered training to over 1285 professionals, citizens and volunteers. Our efforts are funded by organisations that Ptjrchase our Iraining programs. We are particularly proud of the successful launch of the Oliver McGowan training. for which we have become accredited trainers. This achievement has enabled us to recruit individuals with leaming disabilities and Autism to Co-deliver our training sessions. This not only offers them paid employment opportunities but also enriches the training experience for a wide range of professionals. Connect2 Connect2 was a European Social Fund partnership designed to engage vulnerable participants aged 16 and older who were unemployed or inactive and residing in Coventry. This service concluded in December 2023. Our program provided participants with 'barrier-breaking' support to help them re-engage with education, training, or employment. We offered personalised one-on-one assistance to facilitate access to work experience, voluntary roles, and employability courses. Lrfe Path Trust supported individuals facing ba￿lerS to employment such as autism, leaming disabilities, mental health issues, and social isolation, helping them overcome the obstacles of the job market. We recognise the unique and complex challenges thal can deter people from seeking employment. In the past year, we intensively supported 14 individuals. Through our efforts. three participants secured paid employment. eight engaged in volunteering opportunities. and five progressed into education or training programs. Community Day Opportunities At Community Day Opportunilies, we organise a diverse array of activities, courses, voluntary opportunities, training, and social groups to provide individuals with a broad range of experiences. Our approach is always perSon-￿ntred, with staff assisting individuals in identifying their interests and connecting with others who share those interests on a day-by-day basis. From April 2023 to March 2024, we supported 58 citizens in accessing our services. The Servi￿ is predominantly funded by local authorities and direct paymenls. We offered parlicipanls a variety of exciting opportunities to engage with the community, discover their passions. gain volunteer experience. make friends. and develop independent living skills. We also collaborated with 10 different community organisations to enhance networks and connections for people with learning disabilities across the cty. Page 4

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Respite I Short Breaks Our Respite service provides short stay options that allow citizens and their families or carers to enjoy regular breaks. We deliver high-quality care tailored to individual needs in a warm, friendly and secure environment. We also facilitate transitional short stays. enabling service users lo a￿esS re5Plte care before moving to long-term arrangements. The short stay service is designed for adults with learning disabilities, and we also support individuals with additional needs such as mental health issues. epilepsy and physical disabilities, provided they do not require Ihe use of a hoisL This service is available to both men and women over the age of eighteen. Predominantly funded by lo(xl authorities and direct payments. we also ac￿pt self-funded individuals upon request. This year. 34 citizens accessed our service. each receiving person-centred support plans and engaging in a variety of aclivities. We have enhanced our digital and person-centred systems to ensure personalised outcomes, providing tailored support. We prioritise giving people choice and control over their breaks and services. Additionally. we have made notable upgrades to our facilities to improve aesthetics. comfort, and safety. Our service was rated 'Good' in our most recent CQC inspection. Newpath Ventures- Kings Hill Nursery and Four Season Function Room Newpath Ventures offers placemenls, training, work experience, and employment opportunitie5 for individuals with a broad spectrum of learning disabilities. Our initiatives include horticultural activities at Kings Hill Nursery and various catering operalions at the Four Seasons funGtion room. Central to our business culture is a wmmitment to working with people with learning disabilities. Our staff work in teams to help maximise each worker's potential, ensuring that inclusion and aspiration are at the core of our values. Although Newpath operales as a commercial enterprise. our primary focus is on fostering an inclusive environment. This year. Newpath supported 37 co-workers. We also invited schools, such as she￿OUrne Fields School and Hereward College. to participate in horticulture Irial days. providing students with hands-on experience. Looking ahead, we are investing in new initiatives including the development of a café, the creation of a vegetable patch, and the rejuvenation of a lake, all aimed at enhancing our services and providing more opportunities for the community. Landlord Service This year Lrfe Palh Trust has set up a landlord Servi￿ providing housing for those with leaming disabilities whilst support is being delivered by another provider. In this year we were the landlords for 27 people wilh leaming disabilities. Director and Trustee Changes Executive Officers resigned within year peri(Kl: Trustees resigned with year period- Patricia Bogle Trustee re-elected Judy Ryan- 2211112023 Keith Chapman - 2211112023 Philip Rusk- 2211112023 Rober Hall - 2211112023 Edward Lamb- 2211112023 Page 5

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Going Concem Statement In evaluating the charity's ability to continue operating. the directors have scrutinised the recent financial performance ov8r the past year alongside the projected budget, both ofwhich are showing positive trends towards sustainability. With reserv@s still inlad and promising income prospects, including the anticipated sale of Walsgrave Road, the charity remains well-placed to uphold its mission. Our primary focus remains on sustainability, emphasising robust financial planning that extends beyond the immediate impact of the site sale and prioritise5 the implementation of long-term strategies. Despite experiencing a loss last year, there's a promising trajectory, with £126,000 in savings achieved compared to budgeted expenses. For the forthcoming year, the directors believe il's appropriate to continue operating under the going concem assumption based on several key factors.. Sale of Walsgrave Road- The anlicipated sale of this property will inject a significant sum into the charity's finances, albeit with a completion timeline of up to 18 months. In addition to the immediate cash infusion, this sale will also reduce ongoing costs associated with maintaining the site. Positive Financial Trends.. Encouraging financial trends in In￿Me generation have been observed for both Coventry Training Consortium (CTC) and Kings Hill Nursery, providing a solid foundation forsustained revenue. Also, the charity has applied to different fundraising initiatives to kickstart new ventures. Cost Reduction Initiatives.. Proactive efforts to trim costs, particularly through optimising procurement and streamlining existing service contracts. are underway, furlher strengthening financial stability. LPT Assets: Assets held by Life Path Trust (LPT) offer an opportunity for short-tem financing, providing additional contingency funds 85 the charity continues its journey towards long-term sustainability. Although there is no immediate risk of financial danger it is prudent to m&ntion that in the medium-term a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern due to the pending sale of Walsgrave site. Although an offer is progressing on the land this would cause hardship in the future should it not be sold within a reasonable timescale. Given these factors, the directors have confidence in the charilvs ability to navigate the current financial landscape and remain committed to prudent fiscal management to ensure c£)ntinued success in fulfilling its charitable objectives. Risks and Uncertainties Risk Management The Trustees review the major risks to the charity at each board meeting and update the risk register accordingly. Some risks may be delegated to committees, which use a risk assessment tool covering all areas of risk identified by the Charity Commission in their June 2010 report, 'Charities and Risk Management,. This process ensures that no significant risks are overlooked and mainlains consistency in our risk assessment approach. For each identified risk, wntrol measures are documented, and any further actions required are identified. The organisation's senior management team is responsible for implementing any necessary actions as determined by the risk assessment. Relevant projecl risks are also reviewed st each committee meeting and subsequently reported to board meetings, ensuring a dyrramic and responsive risk management process. Page 6

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Financial Sustainablllty We are still in the process of achieving financial stability but are beginning to bridge the existing gap. Currently, reserves are being utilised while actions to reduce costs and generate income are being implemented. These actions include the sale of our Walsgrave Road site, new venlures at Newpath. and ongoing fundraising efforts, all of which aim to work towards a full cost recovery model. Although financial sustainability remains the main ongoing risk to the charity. contingencies and positive trajectories demonstrate effective risk management. As financial plans have begun to lake effecl, our cash flow has extended beyond initial projedions. However, it is crucial to emphasise that the sale of Walsgrave Road remains a priority. This necessity is reflected in our going concern assessment as 8 medium-temi requiremenl. By continuing to focus on Ihese financial strategies. we aim to ensure the long-temi solvency and sustsinability of the charity. allowing us to maintain and enhance the quality of our services. Future Plans First and foremost, the development of a new, co-produced organisational strat8gy stands as a paramount initiative. This strategy aims to address Ihe challenges faced by individuals wilh learning disabilities in Coventry comprehensively. It represents a collaborative effort lo ensure that our services remain responsive and effective in meeting the evolving needs of the community. Furthemiore, we ar8 embarking on a joumey to expand our faciliti8s at Newpath. This includes the development of additional nursery space, alongside the creation of a lake and an allotment project. These enhan￿MentS will not only revitalise the site but also render it suitable for broader community use, offering more opportunities for individuals with leaming disabilities to engage in meaningful work. Expanding the reach of our Oliver McGowan training programme is another pivotal endeavour. Coventry Training Consortium (CTC) is dedicated to extending the impact of this initiative, equipping professionals with the knowledge and skills ne￿SSary to support individuals with learning disabilities effectively. Day Ops is also poised for growth, with plans to augmenl community opportunities in Coventry. A key focus will be on crafting new support plans that empower citizens with even greater choice and control over their activities and experiences. Lastly, we are committed to the development of Ansty Road as a new home for our respite service. This involves the creation of a modern facility with increased capacity. owned by the charity. The improved infrastructure will ensure that we can continue to provide high-quality respite care in a welcoming and accommodating environment. These future plans demonstrate our (x)mmitment to enhancing our serVI￿S and making a positive impact in the lives of individuals with leaming disabilities and their communities. Measuring ObjeGtives To ensure prudent financial management. we have established a robust financial plan that serves as our roadmap for effedive resource allocation. This plan includes quarterly management accounts fealuring Key Performance Indicators (KPIS). Through regular review of our finanGial perfonnance via monthly management accounts, overseen by our finance manager, we can make well-informed decisions and take necessary actions to achieve our financial targets. This proactive approach enables us to detect and address any potential issues earfy on, thus maintaining our financial stabilily. Recognising the importance of continual improvement in service delivery and outcomes for our service users, we are implementing a Monitoring, Evaluation. and Learning (MEL) system alongside reflective practice. Utilising a blend of qualitative and quantitative measures. such as KPIS, case studies, testimonies, and more, we systematically gather ongoing feedback to enhance our services. This comprehensive approach ensures that we remain responsive to the evolving needs of our stakeholders, driving continuous improvement in the quality of care and support we provide. Page 7

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 How We Benefit Everyone The Trustees of Life Path Trust have prioritised adherence to the Charity Commission's guidan￿ on public benefi't. Our Articles of Association demonstrate our commitment to benefiting the public, ensuring that individuals with learning disabililies can access and benefit from the services provided by the Charity. By aligning our practices with regulatory standards and maintaining a clearfocus on inclusivity, we ensure that our work has a positive impact on all members of society. Through our dedication to serving individuals with learning disabilities, we contribute to fostering a more inclusive and equitable community, where everyone has the opportunity to thrive and lead fulfilling lives. Financial review Money we have recelved For Care and Support Supported employmenl income Donations, gifts and grants Rental income and investments 2024 £ 1,112,542 £ 409,413 £ 32,655 £ 11,934 £1.566,544 2023 £ 2,557,526 £360, 151 £31,233 £ 53,357 £3,002,267 Money we have spent Running the serviGes provided 2024 2023 £ 1,777,967 £ 3,718.593 Our reserves The Trustees have reviewed the Charity's needs for reserves in line with the guidance issu@d by the Charity Commission. The holding of reserves has been considered alongside the major risks that the organisation is facing at the time of the review. Risk management is now considered st ev8ry Quarterly Board meeting. The ReseNes Policy will be reviewed on an annual basis at the February FinanGe Committee to 8stablish: what benefit there will be in holding such reserves, 2. the level of reserves required each year, based on the income and expenditure pattern for the followng year, what action is reqLrired to meet the agreed level of reserves, in what forni the reserves are to be held. TYPE OF RESERVES HELD BY LIFE PATH TRUST edR These funds ar8 set aside for a specific pU￿OSe. a) Property Development Fund A large legacy was received by the charity in the year ending 31 March 2013 of £91,676 and put into this new fund so that it could be used for developments. There is also an annual donation of £30,000 which 15 Put into this fund. It was agreed that this donation would be put into this fund from year end 31. March 2016 with the idea thal it would grow the fund. b) Service Development Fund This is set aside for any legacy income to ensure that it can be used to develop value added servic@s for citizens. These are reserves were funds have been provided with specific tem15 as to how they are to be spent. This type of reserve can only be released when the explicit costs are incurred. Page 8

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Charity should hold unrestricted reserves for two purposes: a) To cover known future expenditure To safeguard the Charity's s8rvice commitments in the event that th8r8 are delays in the receipt of funds available to provide the SeN￿S to meet our ststed objectives. There should be reserves to be able to meet 3 months running costs. The resenies V#ill be cash backed with the remainder backed by short tem debtors. b) In the event of the Charity ceasing to operate funds or insolvency to enable the closing of the Charity. At the year-end there W8re free reserves of (£62.779) (2023.. £113.911J. Our aim is to hold 3 months of operating costs in free reserves to cover our cash flow requir8m8nls, of which the Charity is not currentty adlieving. Given the uncertainty of funding for the social care sedor the Trustees are conscious that the free reserves need to be higher and will consider this issue as part of their ongoing decision making processes over the next year. Money - Investment powers and perfomiance The Articles of Association which govem the charity give the Tnjstees wide powers to invest any money. As money is only being kept to make sure we can run the charily efficiently. Ihe money is onty invested in places that are safe and allow us to get the money if it is needed. During the year we eamed £9,644 (2023., £3,382) in interest on our cash balances. Money- Pensions Lrfe Path Trvst has a stakeholder defined contributions pension scheme that all staff are eligiL4e to join after 3 months. Life Path Trust contributes 3010 of salary of members to the pension. The stakeholder pension scheme is operated by Aegon. Money- Setting pay for key staff The Truslees set the pay of key staff each year at the same time that the pay scales for all ￿aff are ag￿d. All pay scales are set by benchmarking jobs against similar jobs in the charity sector and our ability to pay. What are we going to do next yea Th8 transfer of the Supported Living Service to a new provider in mid-July will mean that the Trustees will need to review the strategic direction of the Charity building on the remaining business urtrits and looking to develop projects which continue to support the Vision. Mission and Values of the Charity To ensure Life Path Trust continues to achieve its Mission and Wision for Citizens Enable Citizens of Life Path Trust to live their lives to the full Develop and maintain the asset base of Life Path Trust to ensure maximum benefit is achieved for existing and future citizens of Lrfe Path Trust and the wider community. Innovate to ensure the future of service delivery lo maintain independent. safe services for citizens. Enhan￿ the involvement of citizens 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 Page 9

LIFE PATH TRUST LIMITED REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

In addition to our financial targets, we understand the importance of continuously improving our services and outcomes for our service users. To track our progress in this regard, we will be implementing a Monitoring, Evaluation, and Learning (MEL) strategy. This strategy will involve monitoring the performance and progress of our service users against both standardised and service-specific baselines and outcomes. By systematically collecting and analysing data, we can gain valuable insights into the effectiveness of our programs and interventions. This information will enable us to identify areas of improvement, make data­ driven decisions, and ultimately enhance the quality of our services.

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 S 162A of the Charities Act 2011.

Provision of information to auditors

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

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 29 July 2024 and signed on their behalf by:

Chair

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LIFE PATH TRUST LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also directors of Life Path Trust Limited for the purposes of company law) are responsible for preparing the Trustees. Report. and Ihe financial statemenls in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year in accordanc8 with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. Under company law the trustees must not approve the financial slatements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of its net incoming resourTrs for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charity will continue to operate. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable Ihem to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charily and the group and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. Page11

Crowe U.K. LLP

Crowe

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

Chartered Accountants Member of Crowe Global R+ Building 2 Blagrave Street Reading Berkshire RG 1 1 AZ, UK Tel +44 (0)118 959 7222 Fax +44 (0)118 958 4640 www.crowe.co.uk

Independent Auditor's Report to the Members

Opinion

We have audited the financial statements of Life Path Trust Limited ('the charitable company') and its subsidiary ('the group') for the year ended 31 March 2024 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:

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 relating to going concern

We draw your attention to note 2 in the financial statements, which states that the charitable company and the group incurred losses again in 2024 and that alternative financing arrangements may need to be considered if the Walsgrave site cannot be sold within a reasonable timescale. As stated in note 2, these events or conditions indicate that a material uncertainty exists which that may cast significant doubt on the • charitable company's or the group'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 Hill, London EC4M 7 JW. A list of the LLP's members is available at the registered office. All insolvency practitioners in the firm are licensed in the UK by the Insolvency Practitioners Association. Crowe U.K. LLP is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Crowe U.K. LLP and its affiliates are not responsible or liab4e for any acts or omissions of Crowe Global or any other member of Crowe Global.

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Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED Other Information The trustees are responsible for the other infomation contained within the annual report. The other information comprises the information included in the annual report, olher than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the olher information and, except to the extent otheNise explicitly st8ted in our report, we do not express any fom of assurance conclusion thereon. Our responsibility is to read Ihe other infomation and. in doing so, consider whether the other infonnation is materially inconsistent with the financial ststements or our knowledge obtained in the audit or olherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslatements. we are required to detemine whether this gives rise to a material misststement in the financial statements themselves. If, based on Ihe work we have performed, we conclude that th8r8 is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the trustees. report. 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 th8ir 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 r&quires 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 rtain 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 ststements 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 12, 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 intemal 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 charrtable company's ability to continue as a going concem, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charilable company or to cease operations, or have no realistic alternative but to do so. Page 13

A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LIFE PATH TRUST LIMITED AudStor's responsibilities for the audit of the financial slatements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audil conducted in accordance wilh ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the e￿￿OmE¢ decisions of users taken on the basis of these rinanoal statements. Details of the extent to whith the audit was considered capable of detecting irregularities. induding fraud and non-compliance with laws and regulations are set out below. A further description of our responsibilities for the audit of th8 financial statements is located on the Financial Reporting Council's website at.. www.frc.or .uklaudilorsres onsibilities. This description forms part of our auditor's report. Extent to whlch the audit was considered capable of detectlng irregularities. Includlng fraud Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We identified and assessed the risks of material misstalement of Ihe financial ststements from irregularities, whether due to fraud or error, and discussed these between our audit team. We then designed and perfomied audit procedures responsive to thos8 risks, induding obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those law5 and regulations that have a direcl effect on the delemiination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP {FRS 102>. We assessed the required compliance wtth thes8 laws and regulations as part of our audit procedures on the related financial statement items. In addilion, we considered provisions of other laws and regulations that do not have a direct effed on the financial slalemenls but compliance with which might be fundamental lo the charitable company's and Ihe group's abilty to operale or to avoid a material penalty. We also considered the opportuniti8s and incentives that may exist within Ihe charitable company and the group for fraud. The laws and regulalions we considered in this context for the UK operations were CQC Regulations for service providers and managers. the Care Acl 2014, General Data Protection Regulation IGDPR>, Health and safety legislation, and Employment legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Truste8s and other management 8nd inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, induding fraud, to be within the recognition of certain income streams, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their ovm identification and assessment of the risks of irregularities, substantive testing on income, sample testing on the posting of joumals, reviewing accounting estimates for biases, reviewing regulatory correspondence with th8 Charity Commission, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatemenls in Ihe financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations (irregularities) is from the events and transactions refleded in the financial statements. the less likely the inherently limited procedures required by auditing standards would identify il. In addition. as with any audit. there remained a higher risk of non-detection of irregularities, as these may involve collusion. forgery, intentional omissions, misrepresentation5, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance wth all laws and regulations. Page 14

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: 31 July 2024

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.

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LIFE PATH TRUST LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDA TED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Income and endowments from: Donations Other Irading activities: Rental income Charitable activities: Care and support Supported employment income Investments Bank interest received 32.655 32,655 31,233 2.290 2,290 49,975 1.112,542 1,112,542 2,557,526 409,413 409,413 360.151 9,644 9,644 3,382 TOTAL INCOME 1566 544 1 566 544 3 002 267 Expenditure on: Charitable activities= Care and support Supported employment costs 1,381,240 1.381.240 3.374.075 396 727 396 727 344 518 TOTAL EXPENDITURE 1 777 967 1777 967 3 718 593 Transfers 7,925 (7,925) Net income and net movement In funds (203,498) (7,925) (211,423) (716, 326) Reconclllatlon of funds: Total funds brought forward 2 235 493 2 249 418 2 965. 744 Total funds carried forward The notes on pages 19 to 37 fomi part of these financial statements Page 16

LIFE PATH TRUST LIMITED BALANCE SHEET COMPANY REGISTERED NUMBER: 02731429

31 MARCH 2024

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |GROUP|COMPANY| |Notes|2024|2023|2024|2023| |£|£|£|£| |FIXED ASSETS| |Tangible assets|11|1,292,595|1,349,400|1,284,417|1,341,024| |Programme related| |investments|12|——|2,000|—.|—$|__.|2,000|—|—$—.|104,059|———|———————|67,073| |———|1,294,595|—|——$———|1.351,400|—|1,388,476|——E——*|1.08.097| |CURRENT ASSETS| |Stocks|13|104,433|53,679|-|-| |Debtors|14|244,828|294,565|237,118|284,067| |Cash at bank and in hand|15|—|——E|751,503|—$|——$.|860,993|a|730,116||—————|832,375| |1,100,764|1,209,237|967,234|1,116,442| |CREDITORS:|amounts falling| |due within one year|16|(357,364)|(311,219)|(316,503)|(274.121)| |NET CURRENT ASSETS|———|743,400|——|ee|898,018|—————|650,731|—|842,321| |NET ASSETS|21|GV—————|2,|037|.|995|ee|2,249.418|—|2.039||.207|2.250.|_———-|18| |CAPITAL AND RESERVES| |Unrestricted funds:| |General funds|20|1,231,813|1,465,311|1,233,025|1,466,311| |Designated funds|20|800,182|770,182|800,182|770,182| |Restricted funds|20|6,000|13.925|6,000|13,925| |a|2,037.995|ee|2.,249.|—|,418.|=S=|2.039.207|—_||2,250,118|OO”|

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Included within the group results is a deficit of £211.211 (2023: deficit £730,124) in respect of Life Path Trust Limited.

These financial statements have been prepared 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 behalf on 29 July 2024.

Judy Ryan Chair

The notes on pages 19 to 37 form part of these financial statements

Page 17

LIFE PATH TRUST LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities: Net cash (used in)Iprovided by operating activitles 17 (75,734) (1, 183,004) Net cash used in Investing activities Purchase of property, plant and equipment Bank interest receivable 143,400) (17, T04) Net cash used in investing activities {33.756) {14.322) Change in cash and cash equivalents in the reportlng period (109,490) (1, 197,326) Cash and cash equivalents at the beginning of the reporting period 860 993 2 058 319 Cash and cash equivalents at the end of the reporting period CHANGE IN MOVEMENT IN NET FUNDS At l April 2023 Cash flow At 31 March 2024 Cash al bank and in hand 860 993 109 490 751503 Net Funds The notes on pages 19 to 37 form part of these financial statements Page 18

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMPANY INFORMATION The prinGipal activity of the charity is to provide care. assistance. support and relief of suffering amongst people who are disadvantaged by society due to health conditions, age infirmity or learning disabililiesldrficulties within England and Wales. The charity (registered number 2731429 and charity number 1013242) is incorporated and domiciled in the UK. The address of the registered office is 511 Walsgrave Road, Coventry. CV2 4AG. ACCOUNTING POLICIES The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) Charities SORP {FRS 102)), the FinanGial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Charity meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransaction value unless otherwise stated in the relevant accounting policy note(s}. GoSng Concern In evaluating the charity's abilty to continue operating, the directors have scrutinised the recent financial performance over the past year alongside the projected budget, both of which are showing positive trends towards sustainability. With reseNes still intact and promising income prospects, induding the anticipated sale of Walsgrave Road, the charity remains well-placed to uphold its mission. Our primary focus remains on sustainabilty, emphasising robust financial planning that extends beyond the immediate impact of the site sale and prioritises the implementation of long-term strategies. Despite experiencing a loss last year. there's a promising trajectory, with £126.000 in savings achieved compared to budgeted expenses. For the forthcoming year. the directors believe it's appropriate to continue operating under the going concem assumption based on several key factors.. Sale of Walsgrave Road: The anticipated sale of this property will inject a significant sum into the charitys finances. albeit with a completion timeline of up to 18 months. In addition to the immediate cash infusion. this sale will also reduce ongoing costs associated with maintaining the site. Positive Financial Trends- Encouraging financial t￿ndS in income generation have been observed for both Coventry Training Consortium (CTC) and Kings Hill Nursery, providing a solid foundation for sustained revenue. Also, the charity has applied to diffe￿nt fundraising initiatives to kickstart new ventures. Cost Reduction Initiatives= Proactive efforts to trim costs. particularly through optimising procurement and streamlining existing service contrads. are undeThvay, further strengthening financial stability. LPT Assets.. Assets held by Life Path Trust (LPT) offer an opportunity for short-term financing. providing addilional contingency funds as the charity continues its joumey towards long-t8Tm sustainability. Although there is no immediate risk of financial danger it is prudent to mention that in the medium-temi a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concem due to the pending sale of Walsgrave site. Although an offer is progressing on the land this would cause hardship in the future should it not be sold within a reasonable timescale. Page 19

LIFE PATH TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 477 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:-

Page 20

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 d) Government grants Grants are accounted for under the perfomance model as permitted by the Charities SORP. Grants of a revenue nature are recognised in the Slatemenl of Financial Activities in the same per50d 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 which it relates. The following specific policies are applied lo particular calegories of expenditure= Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. Supported employment costs represent the cost of sales and administrative and other Gosls incurred by the charity's subsidiary company. Governance costs include thos8 Costs associated with meeting the constitutional and statLrtory requirements of the charity. Staff costs are allocated on the basis of estimated time spent. All other costs are directly allocaled. Tangible fixed assets Tangible fixed assets under the cost model are stated at historical cost les5 accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on all tangible assets, excluding freehold land. at rates calculaled to write each asset down to its estimated residual value evenly over its expected useful life, as follows: Freehold buildings - houses over 50 years Freehold buildings - others over 8- 25 years Leasehold property over period of lease se￿ICe fumiture, fittings and equipment over 4- 10 years Office fixtures, fittings and equipment over 3 - 5 years g) Impairmenl of redeveloped property All newly developed property whose independent valuation falls below carrying value plus redevelopmenl costs has additional depreciation charged to it in the financial year that the retention monies have been authorised and paid. h) Stocks stocks are valued at the lower of cost and net realisable value. Costs of finished goods include a relevant proportion of overheads. Net realisable value is based upon estimated selling price less further costs expected to be incur￿d to disposal. Provision is made for obsolete and slow moving items. Page 21

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Debtors Short tem deblors are measured at transaction price. less any impairment. Loans receivable are measured initially al fair value, net of transaction costs. and are measured subsequently at amortised cost using the effedive interest method, less any impairment. i) Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on noti￿ of not more than 24 hours. Cash equivalents are highly liquid investmenls that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Financial instruments The company holds only financial assels and financial liabilities of a kind that qualify as basic financial instruments. Basic financial inslwments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortised cost. Financial instruments where future cash flows are anticipated, are categorised as financial assets referring to fixed asset investments and deblor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and other taxation and social security. k) Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaclion costs, and are measured subsequently at amortised cost using the effedive interest method. Retirement benefits The group operates a defined contribution scheme. The amount charged to the Statement of Financial Activities in respect of pension costs and other post-retirement benefrts is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balants sheel. The Charity also operates defined contribution schemes including an auto enrolment arrangement. Contribulions lo the schemes are charged in the Statement of Financial Activities as they become payable, in accordance wilh the rules of the schemes. Operating leases Annual rentals are charged in the Statement of Financial Aclivities on a straight line basis over the lease term. Page 22

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3. Significant judgements and estimates In the appIl￿tiOn of the charity's accounting policies, whith are described in note 2. Trustees a required lo makejudgements. estimates and assumptions about the G3rrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors Ihat a￿ considered to be relevant. Actual results may differ from these estimales. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised rf the revision 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 material judgements in applying accounting policies or key sources of estimation uncertainty. DONATIONS AND GRANT INCOME 2024 2023 Donalions and legacies CARE AND SUPPORT 2024 2023 SeNice income: Social services R85Pite care 657.027 318 321 2.217.258 189 291 975.348 2,406,549 Residential income 150 977 Page 23

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 SUPPORTED EMPLOYMENT Provision of goods and services through the Charity, N8wpath Ventures Limited. and other external providers. 2024 2023 Supported employment income 409 413 Cost of sales Admin and audit costs 40,245 356 482 43, 772 300 746 Supported employment cost Included within supported employment is income related to other external providers of£23,656 (2023." £20.554). Included within supported employment are cost5 related to other external providers of £24,262 {2023.' £20.627). Page 24

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LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 NET INCOME Group Company 2024 2024 2023 2023 This is stated after charging.. Auditors, remuneration audit (parent) other services Hire of plant and machinery operating leases 16,275 6.975 15,635 6,095 16,275 15.635 9,656 9, 163 9,656 9,163 STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL The average monthly number of employees during the p8riod was as follows: Group Company 2024 2024 2023 2023 Central support Care and support staff (including operating, production and day care staffj Administration staff 30 16 30 12 21 15 23 17 The average monthly number of fulltime equivalent employees during the period was as follows- Group 2024 Company 2024 2023 2023 Centrdl support Care and support staff {including operating, production and day care staffj Administration staff 20 15 10 13 10 In addition, the group gave supported employment and training to 31 people (2023.- 35)- The aggregate payroll costs of employed persons were as follows= Group Company 2024 2023 2024 2023 Wages and salaries Social security Pension costs 908,280 73,347 2, 064, 773 190,330 730,681 60,516 1,897,038 179,235 57.474 Page 26

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL {continued) In addition to the above, the cost of temporary staff during the year was £Nil (2023.. £400, 429). Included in staff costs are redundancy payments totalling £Nil (2023.. £2,426). The number of employees whose remuneralion exceeded £60.000 was: 2024 No. 2023 No. Between £60,000 - £70.000 Of the employees whose annual remuneration exceeded £60,000, one (2023.. none) have retirement benefits accruing under a defined contribution scheme. Total employer contributions in the year to the scheme were £1,353 (2023.. £Nil). Key management personnel consist of the Trustees and senior management team listed on page 2. receive(J aggregate remuneration {including employers National Insurance and employers pension Contributions) of £61,264 {2023.. £102, 75n. The amount of remuneration eamed by directors and trustees in the year was £61,264 (2Q23.' £Nil). Trustee expenses Expenses reimbursed to the trustees amounted to £144 (2023.. £353). These related to travelling costs. There was 1 trustee who received reimbursements in the year (2023.. 1). Penslon costs The group operates a defined Gontribution staff pension scheme including an auto enrolment arrangement. The assets of the scheme are held separately from those of the group in independently administered funds. The pension costs charge represents contributions payable by the group to the funds and amounled to £24,550 (2023.. £61, 757). Contributions totalling £4,865 (2023.. £5.213) were payable to the funds at the year-end and are included in creditors. 10. TAXATION No liability to corporation tax arises on the results of the company or the group for the year (2023.. £Nil). Page 27

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11. TANGIBLE FIXED ASSETS GROUP Assets under the course of construction Service, furniture, fittings & equipment Office fixtures, fittings & equipment Land and buildings Total Cost or valuation At 1 April 2023 Additions Disposals 2,801.723 3,291 15,870 116,043 19,344 470,660 8,186 6.964 3.391,717 43,400 At 31 March 2024 2.801723 134 221 471882 3 424 652 Depreciatlon At 1 April 2023 Charge for the year Disposals 1,510,977 71,274 86,461 6,161 444,877 17,350 2,042,315 94.785 At 31 March 2024 1582 251 458 350 2 132057 Net book value At 31 March 2024 At 31 March 2023 COMPANY Assets under the course of construction Serviee, furniture, fittings & equipment Office fixtures, fittings & equipment Land and buildings Total Cost or valuation At 1 April 2023 Additions Disposal 2,801,723 3.291 15.870 116.043 19,344 171.054 449 3,092,111 35,663 At 31 March 2024 2 801723 134 221 171503 3 124273 Depreciation At 1 April 2023 Charge for the year Disposal 1,510,977 71,274 86,461 6,161 153,650 12,499 1,751,088 89.934 At 31 March 2024 1 582 251 166 149 1 839 856 Net book value At 31 March 2024 At 31 March 2023 290 746 Page 28

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12. PROGRAMME RELATED INVESTMENTS Group Company 2024 2023 2024 2023 Shares in Newpath Ventures Limited at cost Loan to Newpath Ventures Limited Impairment of Loan to Newpath Ventures Limited Here to Help Consortium 1,000 358,114 1,000 301,494 (257,055) (237,421) Newpath Ventur8s Limited is a wholly owned subsidiary company incorporated in England. Newpath Ventures Limited is engaged in primary purpose trading on behalf of the charity. During the year the charity made a grant of £123,546 (2023.. £112,457) and charged rent and an administrative charge of £32,473 (2023.. £20,928) to Newpath Ventures Limited. The loan to the subsidiary is unsecured and interest free. A provision has been made against the loan to Newpath Ventures Limited to reflect the net realisable value of the assets held by the company. 13. STOCKS Group Company 2024 2023 2024 2023 stocks Where stock for the group is held by the trading subsidiaries. 14. DEBTORS Group Company 2024 2023 2024 2023 Trade debtors other debtors Amounts due from subsidiary Prepayments and accrued income 135,630 19.060 172, 737 23.047 128.117 11,537 8,196 t69,027 16,661 98.379 Page 29

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15. CASH AND CASH EQUIVALENTS Group Company 2024 2023 2024 2023 Cash at bank and in hand 16. CREDITORS: Amounts falling due within one year Group Company 2024 2023 2024 2023 Trade creditors Other taxation and social security Other credilors Accruals and deferred income 130,435 125,530 109,121 101, 737 19,466 68,037 139 426 17,008 70,976 19.466 68.037 119 879 17,008 70,976 At year end, total deferred income was £75,545 (2023.. £3, 800>. Deferred income comprises of fees re￿iVed in advance for training invoiced in advance that is predominantly occurring in 202412025. Movement on deferred ineome Group and Company 2024 2023 Opening deferred income Release of deferred income in the year Income deferred this year 3,800 13,800) 3. 800 Deferred income 17. RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES 2024 2023 Net income Depreciation Loss on disposal Interest received Increase in stock Decrease in debtors Increasel(decrease) in creditors (211,423) 94,785 5,422 (9,644) (50,754) 49,737 (716,326) 99,274 817 (3, 382) (15, 592) 408. 723 956 458 Net cash (used in)Iprovided by operating activities 734 Page 31

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18. SUBSIDIARY COMPANY The Gharity has one wholly owned aGtive trading subsidiary which is incorporated in the UK. Newpath Venlures Limited (company number.. 02757473. registered Office.. 511 Walsgrave Road. Coventry, CV2 4AG) operates function facilities and a horticuttural nursery. which provide employment for people with learning difficulties. All activities have been Gonsolidated on a line-by-line basi5 in the SOFA. Financial statements are filed with the Registrar of Companies. A summary of the results of Newpath Ventures Limited is shown below: Newpath Ventures Limited 2024 2023 Tumover Cost of sales 261,529 227, 661 Gross profit Grant from parent charty Administrative expenses 221,284 123,5fA 364 693 183, 889 112,457 (Loss) on ordinary activities before taxation (19,845 (19,499) Tax on loss on ordinary activities (Loss) on ordinary activitie5 after taxation The aggregale of the assets, liabilities and funds was: Assets Liabilities 149,903 407 169 701, 174 338 594 Net liabilities 19. CAPITAL AND RESERVES The charity is a private company limited by guarantee. In the event of it being wound up the liability in respect of Ihe guarantee is limiled to £1 per member of the Gompany. Page

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20. FUNDS GROUP Balance at 1 April 2023 Transfer between funds Balance at 31 March 2024 Income Expendlture Unrestricted funds General funds 1465311 1566 544 1777 967 1231813 Designated funds Service development fund Property development fund 473,496 296 686 473,496 326 686 770 182 800 182 Total unrestricted funds Restricted funds COVID Grants 7, 925 (7,925) Coventry University Project Total funds COMPANY Balance at 1 April 2023 Transfer between funds Balance at 31 March 2024 Income Expenditure Unrestricted funds General funds 1466311 1337 488 1548 699 1233 025 Deslgnated funds Service development fund Propety development fund 473,496 296 686 473,496 326 686 770 182 800 182 Total unrestricted funds Restricted funds Coventry University Project COVID Grants 6, 000 6,000 Totsl funds Page 32

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20. FUNDS (continued) Designated Funds Service development fund In December 2019 the board agreed lo set aside a designated legacy fund to include funds gifted to Life Path Trust that can be used for value added services for the benefit of citizens. Property development Fund The development fund was established to set aside funds for future developments on owned properties. Restricled Funds Coventry University Project This fund relates to monies donaled to be spent on a research project wilh Coventry University. to support people with leaming disabilities. GROUP- Comparative Balance at l Apnl 2022 Transfer between funds Balance at 31 March 2023 Income Expenditure Unrestricted funds General funds 2 211637 3 002 267 593 1465 371 Designated funds Seniice development fund Property development fund 473,496 266 686 473,496 740 182 770 182 Total unrestricted funds Restricted funds COVID Grants 7.925 7.925 Coventry University Project Total funds Page 33

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20. FUNDS {continuedl COMPANY- Comparative Balance at 1 April 2022 Transfer between funds Balance at 31 March 2023 Income Expendtiu Unrestricted funds General funds 2 226 435 2 795 535 3 525 659 30 000 1466 311 Designated funds Sewice development fund Property development fund 473,496 266 686 473,496 296 686 740. 182 770. 182 Tolal unrestricted funds RestriGted funds Coventry University Project COVID Grants 535 3 525 659 6, 000 7.925 Total funds 21. ANALYSIS OF ASSETS BETWEEN FUNDS GROUP 2024 Fixed assets Net Current Long-term assetsl liabilities (Ilabilities) Total Unrestricted general funds Designated funds Restricted funds 1,294.595 (62,782) 800,182 1,231,813 800,182 2023 Fixed assets Net current assets Long-tem liabilities Total Unrestricted general funds Designated funds Restricted funds 1,351,400 113,911 770, 182 13 925 1,465,317 770, 182 2 249 418 Page 34

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21. ANALYSIS OF ASSETS BETWEEN FUNDS (continued) COMPANY 2024 Flxed assets Net current Long.term assetsl IlabllltSes (liabilities) Total Unrestricted general funds Designated funds Restricted funds 1.284.417 (51,392) 800,182 1,233.025 800,182 2023 Fixed assets Net current assets Long-term liabilities Total Unrestjrycted general funds Designated funds Restricted fvnds 1,408, 097 58,214 770, 182 q.466,311 770, 182 22. RELATED PARTIES Judy Ryan a trustee of Life Path Trust paid 8 £5 donation with her membership fee in the year. Phillip Rusk. a trustee of Life Path Trust paid a £70 donation with his membership fee during the year. Transactions with the subsidiaries are detailed in note 12. Page 35

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23. COMMITMENTS UNDER OPERATING LEASES a) Lessor The group earns rental income by leasing ils properties to tenants under non-cancellable operating leases. Leases in which substantially all risks and rewards of ownership are retained by another paty, the lessor, are classified as operating leases. Payments, including prepayments, made under operating leases (net of any incentives received from the lessor) are charged to the income statement on a straight-line basis over the period of the lease. At the balance sheet date, the group had contracted with tenants to receive the following future minimum lease payments: GROUP AND COMPANY 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years b) Lessee Al 31 March 2024 the Group had future minimum lease payments under nOn-¢an￿lIable operating leases as follows:_ GROUPAND COMPANY 2024 2023 Other Not later than 1 year Later than 1 year and not later than 5 years 9,656 9,296 20. 785 Page 36

LIFE PATH TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24. COMPARATIVE CONSOLIDATED SOFA Unrestricted Funds 2023 Rest17Cted Funds 2023 Totaj Funds 2023 Income and endowments from.. Donations Other trading aGtivities.' Rental income Chantabl8 activrfies.. Care and support Supported 8mployn7enl income Investments Bank interest received 31,233 31.233 49,975 49.975 2.557.526 2. 557.526 360, 151 360. 151 3,382 3.382 Other TOTAL INCOME 3 002 267 3 002 267 Expenditure on.. Chat7table activities.. Care and support Supported employment costs 3.374,075 3,374,075 344.518 344 518 TOTAL E¥PENDITURE 3 718 593 3. 718. Net income and net movement in funds {716, 326) (716,326) Reconciliation of funds.. Total funds brought forward Total fiinds caffi8d foward Page 37