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2024-03-31-accounts

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

Charity Registration No. 1018920

Company Registration No. 02724141 (England and Wales)

GLEBE HOUSE (CHARNWOOD) LIMITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

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GLEBE HOUSE (CHARNWOOD) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr N Chiragh (Honorary Treasurer)
Dr G Balasubramaniam (Resigned 12 June 2023)
Mrs S Elliott
Mr B Higgins (Resigned 29 August 2023)
Mrs M Moore
Mrs L Nicholls-Sykes
Mr T Unsworth (Resigned 17 July 2024)
Mr M Ellerby
Mrs S Dewsbury (Appointed 10 August 2023)
Chief Executive Mr P Warlow
Charity number 1018920
Company 02724141
number
Principal Woodgate Chambers
address
70 Woodgate
Loughborough
Leicestershire
LE11 2TZ
Registered officeWoodgate Chambers
70 Woodgate
Loughborough
Leicestershire
LE11 2TZ
Auditor Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Bankers Lloyds Bank plc
37/38 High Street
Loughborough
Leicester
LE11 2QG
Investment iib Financial Services Ltd
advisors
Prospect House
6 Brookside
Ashby-de-la-Zouch
Leicestershire
LE65 1JW

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 29

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charitable company present their report and financial statements of the charity for the year ended 31 March 2024, which is also prepared to meet the requirements for a director’s report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, and comply with the charity's governing document, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice for charities applying FRS 102 (2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

OBJECTIVES AND ACTIVITIES

Objectives

The charity’s objects are to promote any charitable purpose for the benefit of persons who have a learning disability and /or autism or who are caring for someone with a learning disability and/or autism.

The charity provides a wide range of services to children and adults (8-80) with a learning disability and /or autism. Our aim is to improve independency, develop skills and provide a high quality of care and support to those in the Charnwood area, although not exclusively, if they can travel to our location.

Services and support, which are not provided through an agreement with the local authority, are open to anyone who has sufficient funds to support their service. We do consider how to obtain funds for people who do not have resources to pay for services themselves. We make funding applications to funders independent of LCC and staff will regularly support families with help and signposting beyond any contract requirement.

Public benefit statement

The charity Trustees have considered the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The charity has a range of policies and procedures, which are managed by the Quality and Care Manager, and updated and reviewed on a regular basis. A Diversity Statement provides guidance for the fair treatment for all stakeholders in the organisation.

Activities

Glebe House remains a unique provider of services to adults and children with learning disabilities and/or autism in the Charnwood area, offering a range of services and flexibility that is unmatched by any other local provider. We support over 120 adults and children with learning disabilities on a regular basis. All of our adult and children’s services are funded through individual’s personal budgets, which means that the primary source of income is Leicestershire County Council. Clients/carers can choose to manage this budget themselves or request that the Council manages the funding on their behalf.

The Glebe House Board of Trustees was without a Chair throughout 2022 but in April 2023, Bryan Higgins agreed to return to this role. However, ill health caused him to step down and resign his position from the Board completely in August 2023 and since then, the charity is once again without a Chair. Naveed Chiragh retains his role as Honorary Treasurer. Sharon Dewsbury joined the Board in August 2023 . Dr Geetha Bala resigned from the Board in June 2023 after being an essential member of the trustees for over ten years. The loss of Bryan and Geetha means that the Finance and General Purposes (“F&GP”) subcommittee, chaired by Naveed Chiragh is no longer quorate. The detailed analysis of budgeting, financial planning and investments is now the sole responsibility of the full Board.

Since June 2023, Board meetings have been a mixture of online and in person meetings. Marie Moore has been a Board Member for over twenty years, and this is justified on the grounds that, she is one of two Trustees who have sons with a learning disability who use the services of Glebe House, providing a unique perspective on the charity’s governance and performance.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Adult Services: Based at Woodgate Chambers unless otherwise stated.

These are the services currently provided by Glebe House for over 120 adults and children.

Children Services: Based at The Old School, Shepshed and Rawlins Community College

The management and Board ensure that the services remain relevant to the clients and remain at a high standard by implementing client surveys once a year and having suggestion boxes in the venues. The Chief Executive holds regular all staff House meetings for quality updates and also the Client Representative meetings, chaired by an elected client is held quarterly. These meetings allow all attendees to question and give direct feedback to the senior managers.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS AND PERFORMANCE

Summary of Performance

The financial performance outlined in the 2024 accounts shaped the services delivered in this financial year. Following a financial performance review of all the services by the Board, led at the time by Bryan Higgins, the decision was taken to close two services, the childrens After Schools Club (ASC) and the Adult Home and Community Support (AHCS) service. The ASC continued to provide support until July, the end of the school year and the AHCS ended support for the final client in August 2023. As a result of the closures, three staff were made redundant. At the point of closure, the budget deficit was projected to be worse than 2023, but there has been a significant upturn in financial performance over the past six months. This is as a result of improved management of resources and staffing levels, new clients, grants & donations and improved investment performance. The guidance of Naveed Chiragh has been indispensable.

Glebe House has the advantage of staff loyalty that greatly aids the standard of support to clients. 31 of the current 64 staff members have worked at Glebe House for over ten years. Sadly, Ann Folkes, the longest serving employee in the charity’s history passed away after a short illness in February 2024. Ann served Glebe House for 38 years as HR and Administration Manager and as part of the SMT helped shape the foundations and continued performance of the charity.

In August 2024, Kirstie Jackson, the long serving Finance Manager and SMT member will retire from the charity and as a result of these two changes the SMT will be dissolved . We promoted three support staff internally to the roles of part time Autism Team Leaders to support the management of the service.

In January 2024, the landlord of Glebe Workshop , home of the Work Skills service since 2016, informed us that the whole building would close in March 2024 and we would need to relocate. A new home at Unit 8, Bull in the Hollow Farm on the edge of Loughborough was found and due to the dedication and hard work of Mark Horsfield and Lisa Denham, the managers of the service, the transfer of services between bases was completed before Easter.

Funding applications have continued, and this allowed the purchase of a minibus to help the Work Skills team as well as the funds to provide a much-needed path at The Old School House to aid wheelchair access. Further funding has been achieved to fit out the new Workshop and applications are in place to purchase a new digital IT system to update the administration of the organisation. Kiernan Dewsbury-Hall , in his role as Patron has continued to offer personal hands on support and financial support to the charity as well as providing media opportunities to promote the work at Glebe House and we are grateful for his time and continued involvement.

Our clients all continue to input into their own support and the variety of activities available seven days a week continues to grow. We provide as many opportunities as we can to everyone to ensure that all of our clients continue to experience life to the full.

Financially Glebe House remains in a strong position for the next twelve months and with a renewed business plan in place, we are optimistic about the future development.

Support for Other Organisations

We have continued a strong association with Steps, which is a provider of services for children with disabilities as well as supporting many community venues in the area. All of our team leaders attend client reviews when requested and we provide a high level of feedback to all stakeholders to get the highest level of support available for those we support.

FINANCIAL REVIEW

The results for the year ended 31[st] March 2024 are shown in the Statement of Financial Activities on page 12. This, together with the balance sheet on page 13, should be read in conjunction with the related notes which have been prepared in accordance with the Charities SORP 2019 (FRS 102).

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Total income for the year amounted to £1,059,804 (2023 - £968,382). The principal funding source continues to be charitable activity income from the Leicestershire County Council. However, many clients now have their own budgets (albeit that these are funded from the Council) which pay for the services that they choose, and this includes allocated funds for overnight respite. The main children’s services are also funded from personal budgets paid from Leicestershire County Council.

Total expenditure for the year amounted to £1,117,338 (2023 - £1,039,956). A breakdown of expenditure is set out in notes to the financial statements.

Reserves Policy

Reserves are needed to cover any immediate drop in income caused by external unforeseeable circumstances. The Trustees have set a reserves policy, which requires that reserves be maintained at a level, which ensures that Glebe House (Charnwood) Limited’s core activity could continue during a period of unforeseen difficulty and that a proportion of reserves be maintained in a readily realisable form. The Trustees consider readily realisable reserves to be the amount of reserves that are easily converted into cash should the need arise (‘free reserves’). The calculation of the required level of reserves is an integral part of Glebe House (Charnwood) Ltd.’s planning, budgeting and forecasting cycle. It takes into account the risks associated with each stream of income and expenditure varying from budget; the planned activity level; and Glebe House (Charnwood) Limited’s future commitments or costs concerned with level of reserves needed in the event of the closure of the charity’s activities, including redundancy pay and the full cost of leases and commitments which would crystallise. The Trustees consider that the ideal level of reserves as at 31[st] March 2024 would be £186,642.

The balance of reserves at 31[st] March 2024 was £893,935, made up of £38,445 restricted funds and £855,490 of unrestricted funds. Current free reserves (unrestricted funds less tangible fixed assets and investments) are £146,138 which is slightly below the reserves policy.

Investment Policy and Performance

It is our policy that investments need to be readily accessible and that we maintain a balance between income and capital growth. iib Financial Services Ltd, who invest our funds according to our policy, manages the charity investments. The market value of investments has increased to be £254,063 to the Board after a selection process and this decision is reviewed annually.

Risk Management

The Trustees recognise the importance of Risk Management within the framework of governance and internal control. It remains the responsibility of the Chief Executive to provide the input for the risk management system, whilst the Trustees continue to review the major risks to which the charity is exposed and ensure that systems have been established to mitigate those risks. A risk management policy has been implemented which includes:

All staff members, together with Trustees, are involved in identifying the risks that the charity faces. The most serious risks, remain overall social care budget cuts which will impact the level of individual personal budgets. In addition, the key risks are an imprecise pricing policy, poor cash flow, an incident or inspection that could cause a loss of reputation and increased competition. The accessibility of the building is assessed and the identified risks are managed as far as reasonably possible alongside the requirements of the Disability Discrimination Act 1995 (DDA). Ongoing staff training takes place to maintain skills and knowledge levels. Glebe House is recognised as a Disability Confident Employer by the DWP.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Glebe House retains the services of Flint Bishop who provide Glebe House with a professional HR update service in addition to advice and guidance and reduce the risk of HR non-compliance. The services of LRB Consulting are retained to provide professional support and regular audits on matters of Health and Safety and Fire Safety.

The dilapidations matter that has continued since the ending of the lease at 190 Forest Road, in April 2013, continues without resolution. Funds have been allocated in previous accounts and despite requests for updated information, there has been no meaningful correspondence from LCC since April 2015 and the position remains unchanged.

PLANS FOR FUTURE PERIOD

The charity is looking to improve all aspects of the organisation, ranging from the digitisation of support administration to the widening of respite and support provision. The introduction of a healthy awareness programme, a widening of a training offer to clients and the increased involvement of the staff and clients in the future of the charity should continue to ensure that Glebe House remains a top support choice for those with learning disabilities.

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 18[th] June 1992, and registered as a charity on 18[th] March 1993. The charitable company was formed in 1992 by members of the then Charnwood Mencap Society to take over the running of Glebe House. The charitable company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association.

Organisational structure

The Council of Management (Board of Trustees) is currently comprised of a cross-section of people, including two parents of people with learning disabilities and those with significant experience of the voluntary and the private sector. The Council of Management meets at least six times a year to set the strategic direction of the charity, ensure financial probity and constitutional compliance and ensure the charity is providing a high standard of services. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £1.

The Finance and General Purposes subcommittee which was formed to discuss the detail of finances on a regular basis and to provide detailed support to the main Board is currently dormant due to lack of trustee volunteers. Peter Warlow is the Chief Executive employed to oversee the day-to-day running of the charity.

Decision making

The Trustees consider the board of trustees and the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All Trustees give their time freely and no Trustee remuneration was paid in the year.

Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the organisations policy, withdraw from decisions where a conflict of interest arises.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Recruitment and Appointment of Trustees

In accordance with the Memorandum and Articles of Association the Board of Trustees, may from time to time elect any person, who agrees to hold office, to be a Trustee. The minimum number of Trustees is three and there is no maximum. Disclosure and Barring Service checks are carried out for all Trustees and renewed every three years.

Trustee Induction and Training

All new members of the Board of Trustees spend time with senior management to familiarise themselves with the workings of the organisation. They receive copies of the governing documents and a set of the latest accounts and the Charity Commission’s guidance “The Essential Trustee”. All Trustees are given a copy of the “Good Governance” code for the Voluntary and Community Sector and are provided with information on appropriate conduct. The senior staff occasionally attend the Trustees’ meetings to keep them informed of the current situation and future plans for each service. An annual skills analysis is used to identify gaps in the Board knowledge.

Staff Remuneration Policy

The Trustee Board carries salary reviews out each year. However, a review does not guarantee a pay rise and there is no contractual right to an annual pay rise. Staff will be informed of the result of the review in writing.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Glebe House (Charnwood) Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs for the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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GLEBE HOUSE (CHARNWOOD) LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

SMALL COMPANY PROVISIONS

This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

01-08-2024

Approved by Board of Trustees on ……………… and signed on its behalf by

Mr N Chiragh – Honorary Treasurer

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Opinion

We have audited the financial statements of Glebe House (Charnwood) Limited (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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 FRS 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 charitable company 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' report. The trustees are responsible for the other information contained within the trustees' report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities set out on page 6, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (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 economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. However, responsibility for the prevention and detection of fraud ultimately rests with both those charged with governance and management of the charitable company.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

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GLEBE HOUSE (CHARNWOOD) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED

Audit response to risks of irregularities identified

Our procedures to respond to risks identified included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the 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, for our audit work, for this report, or for the opinions we have formed.

GLEBE HOUSE (CHARNWOOD) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GLEBE HOUSE (CHARNWOOD) LIMITED Paul Barnett FCCA (Senior Statutory Audltor) for and on behalf of Newby Castl8man LLP Chartered Accountants Statutory Auditor West Walk Building 110 Regent Road Leicester LE17LT 13 August 2024 11

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GLEBE HOUSE (CHARNWOOD) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
19,339
19,267
Charitable activities
4
1,024,703
-
Other trading activities
5
9,783
-
Investments
6
5,979
-
Total
1,059,804
19,267
Expenditure on:
Raising funds
7
3,896
-
Charitable activities
8
1,102,398
11,044
Total
1,106,294
11,044
Net gains/(losses) on investments
12
20,552
-
Net income/(expenditure) and movement in funds
(25,938)
8,223
Reconciliation of funds:
Total funds brought forward
881,428
30,222
Total funds carried forward
855,490
38,445		 Total
2024
£
38,606
1,024,703
9,783
5,979
1,079,071
3,896
1,113,442
1,117,338
20,552
(17,715)
911,650
893,935		 Total
2023
£
87,238
877,112
1,786
2,246
968,382
3,227
1,036,729
1,039,956
(9,225)
(80,799)
992,449
911,650

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 14 455,289 439,152
Investments 15 254,063 234,728
709,352 673,880
Current assets
Debtors 16 92,255 69,117
Cash at bank and in hand 245,938 328,537
338,193 397,654
Creditors: amounts falling due within
one year 17 (57,596) (62,083)
Net current assets 280,597 335,571
Total assets less current liabilities 989,949 1,009,451
Creditors: amounts falling due after
more than one year 18 (2,084) (3,871)
Provisions for liabilities 19 (93,930) (93,930)
Total net assets 893,935 911,650
Charity funds
Restricted funds 23 38,445 30,222
Unrestricted funds:
General funds 671,044 696,982
Revaluation reserve 184,446 184,446
24 855,490 881,428
Total charity funds 893,935 911,650
01-08-2024

The financial statements were approved and authorised by the board of trustees on ......................... and are signed on its behalf by:

.............................. 73E5CE92C8F34DD... Mr N Chiragh (Honorary Treasurer)

Trustee

Company Registration No. 02724141

The notes on pages 15 - 29 form part of these financial statements.

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GLEBE HOUSE (CHARNWOOD) LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
28
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of investments
Investment income received
Net cash used in investing activities
Financing activities
Payment of finance leases obligations
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(41,046)
1,218
5,979
(1,787)		 £
(46,963)
(33,849)
(1,787)
(82,599)
328,537
245,938		 2023
£
(50,481)
1,852
2,246
(1,787)		 £
(37,137)
(46,383)
(1,787)
(85,307)
413,844
328,537

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Glebe House (Charnwood) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office and place of business is given in the legal and administrative information page of these financial statements.

1.1 Basis of preparation

The charity is a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance with: the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), Accounting and Reporting by Charities: the Statement of Recommended Practice for charities applying FRS 102 (2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold property and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.4 Income recognition

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

Income from charitable activities includes income received from local authorities for the provision of services to adults and children with learning disabilities and/or autism. Income from these categories is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

1 Accounting policies

(Continued)

Investment income is earned through holding assets for investment purposes. It comprises bank interest and is recognised on an accruals basis.

1.5 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. It is recognised under the following headings:

1.6 Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and costs of raising funds and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure in line with the objectives of the charity. Support costs are allocated to costs of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 10.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property Not depreciated Freehold property improv'ts 10% straight line Leasehold improvements 10% straight line Fixtures and fittings 25% straight line Motor vehicles 25% reducing balance

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the Statement of Financial Activities (SOFA) unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

1 Accounting policies

(Continued)

1.11 Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the SOFA.

1.12 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

1.13 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination payments are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.16 Taxation

Glebe House (Charnwood) Limited is a registered charity and no taxation provision is required as its income from charitable activities falls within the various exemptions available to registered charities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

(Continued)

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of freehold property

The valuation of freehold property is reassessed annually by the trustees and, when necessary, amended to reflect current estimates.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations
19,339
2,740
Grants
-
16,527
19,339
19,267		 Total
Unrestricted
funds
2024
2023
£
£
22,079
28,540
16,527
3,996
38,606
32,536		 Restricted
funds
2023
£
6,500
48,202
54,702		 Total
2023
£
35,040
52,198
87,238

4 Income from charitable activities

Unrestricted Restricted
funds
funds
2024
2024
£
£
Adult Services
805,912
-
Children's Services
92,684
-
Weekend and Short Breaks
126,107
-
1,024,703
-		 Total
Unrestricted
funds
2024
2023
£
£
805,912
729,266
92,684
66,078
126,107
81,768
1,024,703
877,112		 Restricted
funds
2023
£
-
-
-		 Total
2023
£
729,266
66,078
81,768
- 877,112
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fundraising events
7,345
-
Letting and licensing
arrangements
688
-
Work skills project sales
1,750
-
9,783
-		 Total Unrestricted
funds
2024
2023
£
£
7,345
76
688
519
1,750
1,191
9,783
1,786		 Restricted
funds
2023
£
-
-
-
-		 Total
2023
£
76
519
1,191
1,786

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

6 Income from investments

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Interest receivable
5,979
-
Expenditure on raising funds
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fundraising costs
2,155
-
Investment management
1,741
-
3,896
-		 Total
Unrestricted
funds
2024
2023
£
£
5,979
2,246
Total
Unrestricted
funds
2024
2023
£
£
2,155
1,375
1,741
1,852
3,896
3,227		 Restricted
funds
2023
£
-
Restricted
funds
2023
£
-
-
-		 Total
2023
£
2,246
Total
2023
£
1,375
1,852
3,227

7 Expenditure on raising funds

8 Expenditure on charitable activities

Activities
undertaken
directly
Note 9
£
Adult Services
605,383
Children's Services
58,833
Weekend and Short Breaks
98,462
762,678
Unrestricted funds
Restricted funds		 Support
Costs
Note 10
£
282,882
30,756
37,126
350,764		 Total
2024
£
888,265
89,589
135,588
1,113,442
1,102,398
11,044
1,113,442		 Total
2023
£
850,956
100,672
85,101
1,036,729
995,427
41,302
1,036,729

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

9 Expenditure on activities undertaken directly

Adult
Services
Children's
Services
Weekend
and Short
Breaks
£
£
£
Staff costs
586,042
54,241
94,067
Depreciation and impairment
4,618
-
-
Activities
3,403
3,979
4,400
Room Hire
-
600
-
Mileage
(220)
13
(5)
Workshop Costs
11,540
-
-
Accomodation
-
-
-
605,383
58,833
98,462		 Total
2024
£
734,350
4,618
11,782
600
(212)
11,540
-
762,678		 Total
2023
£
689,907
2,103
9,300
10,801
587
11,760
2,130
726,588

10 Expenditure on support costs

Staff costs
Depreciation & loss on disposal
Other staff costs
Household costs
Premises costs
Insurance
Motor and travel
Printing, postage and stationery
Computer and telephone costs
Legal and professional costs
Repairs and maintenance
Other costs
Analysed between:
Charitable activities		 2024
£
171,254
20,290
12,389
27,611
54,059
7,774
20,015
5,509
7,871
13,559
8,978
1,455
350,764
350,764		 2023
£
171,218
20,454
9,751
15,384
34,823
7,106
12,969
4,375
8,062
13,536
13,251
(788)
310,141
310,141

Support costs have been allocated to activities on a relevant basis to the nature of the underlying costs in proportion to resources used. Support costs include governance costs totalling £6,681 (2023: £7,203).

Governance costs includes payments to the auditors of £6,270 (2023- £5,700) for audit fees.

11 Trustees

None of the trustees received nor waived any remuneration or benefits or reimbursements from the charity during the year, or in the previous year.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

12 Net gains/(losses) on investments

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Revaluation of
investments
20,552
-
Gain/(loss) on sale of
investments
-
-
20,552
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
20,552
(9,246)
-
-
21
-
20,552
(9,225)
-		 Total
2023
£
(9,246)
21
(9,225)

13 Employees

The average monthly number of employees during the year was:

Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
Termination payments		 2024
Number
70
2024
£
835,572
47,503
19,488
3,042
905,605		 2023
Number
69
2023
£
789,595
49,573
18,030
3,927
861,125

There were no employees whose annual remuneration was more than £60,000.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

14 Tangible fixed assets

Freehold
property
Freehold
property
improv'ts
Leasehold
improvements
Fixtures and
fittings
Motor
vehicles
£
£
£
£
£
Cost or valuation
At 1 April 2023
365,000
12,170
18,795
57,504
95,425
Additions
-
100
3,120
7,441
30,385
At 31 March 2024
365,000
12,270
21,915
64,945
125,810
Depreciation and
impairment
At 1 April 2023
-
6,201
9,013
36,138
58,391
Depreciation charged
in the year
-
1,227
1,906
10,618
11,157
At 31 March 2024
-
7,428
10,919
46,756
69,548
Carrying amount
At 31 March 2024
365,000
4,842
10,996
18,189
56,262
At 31 March 2023
365,000
5,969
9,783
21,366
37,034		 Total
£
548,894
41,046
589,940
109,743
24,908
134,651
455,289
439,152

Freehold property was revalued on 25 May 2022 by Alexanders, independent valuers not connected with the charity, on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 March 2024, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £180,554 (2023 - £180,554).

15 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 April 2023 234,728
Valuation changes 19,335
At 31 March 2024 254,063
Carrying amount
At 31 March 2024 254,063
At 31 March 2023 234,728

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Notes
Obligations under finance leases
20
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
18
Creditors: amounts falling due after more than one year
Notes
Obligations under finance leases
20
19
Provisions for liabilities
Dilapidation provision
Movements on provisions:
At 1 April 2023 and 31 March 2024		 2024
2023
£
£
77,929
56,545
162
13
14,164
12,559
92,255
69,117
2024
2023
£
£
1,787
1,787
11,223
8,554
11,571
6,912
5,530
5,530
27,485
39,300
57,596
62,083
2024
2023
£
£
2,084
3,871
2024
2023
£
£
93,930
93,930
Dilapidation
provision
£
93,930

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

20 Finance lease obligations

Future minimum lease payments due under finance leases:

Future minimum lease payments due under finance leases:
Within one year
Within two and five years		 2024
£
1,787
2,084
3,871		 2023
£
1,787
3,871
5,658

The charity has leased a Quality Compliance System. The lease term is 5 years with and is on a fixed repayment basis.

21 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
46,823
56,400
103,223		 2023
£
22,564
-
22,564

Lease payments totalling £22,564 (2023 - £25,209) have been recognised as an expense during the year.

22 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees.

The charge to the SOFA in respect of defined contribution schemes was £19,488 (2023 - £18,030). This expenditure has been allocated to support costs and unrestricted general funds.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

23 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds
Balance at Incoming Resources Balance at
1 April 2023 resources expended 31 March 2024
£ £ £ £
Capital grants - short breaks for Charnwood
borough council 641 - (160) 481
Kiernan Dewsbury Hall 5,000 - (2,346) 2,654
National Lottery Community Fund - Minibus 8,629 - (2,157) 6,472
SHIRE Community Grant 2,589 - (647) 1,942
Baily Thomas 863 - (216) 647
RHS Grant re Aquaponics System 2,500 - (1,340) 1,160
National Lottery Community Fund - Minibus 10,000 - (625) 9,375
Garfield Weston - Minibus - 3,000 (188) 2,812
Edward Gostlin - Minibus - 10,000 (625) 9,375
Screwfix Wheelchair Path - 3,527 - 3,527
All Truck Employee Donation - Youth Club - 250 (250) -
A Mills Autism Service Icecreams - 100 (100) -
A Petty Autism Service Drinks - 100 (100) -
Brooksby Agricultural College - 310 (310) -
Miracles to Believe - Santa Boat Trip - 280 (280) -
Heathcote and Associates - Youth Club - 200 (200) -
Greenfields - Youth Club - 1,500 (1,500) -
30,222 19,267 (11,044) 38,445
Movement in funds
Balance at Incoming Resources Balance at
1 April 2022 resources expended 31 March 2023
£ £ £ £
Capital grants - short breaks for Charnwood
borough council 825 - (184) 641
Kiernan Dewsbury Hall - 1,500 (1,500) 5,000
National Lottery Community Fund - Minibus 10,000 - (1,371) 8,629
SHIRE Community Grant 2,997 (2,997) - 2,589
Baily Thomas 3,000 - (411) 863
RHS Grant re Aquaponics System - 5,000 - 2,500
National Lottery Community Fund - Minibus - 1,000 (137) 10,000
Garfield Weston - Minibus - 5,000 (5,000) -
Edward Gostlin - Minibus - 10,000 - -
Screwfix Wheelchair Path - 2,500 - -
All Truck Employee Donation - Youth Club - 32,699 (32,699) -
16,822 54,702 (41,302) 30,222

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

23 Restricted funds

(Continued)

– Capital grants short breaks for Charnwood Borough Council.

This fund is represented by fixed assets, and relates to a grant to provide a Vauxhall Zafira vehicle for the use of Glebe House. This is held in the form of an asset.

Kiernan Dewsbury Hall

This donation was made to provide a contribution towards services in the Childrens Service, it has been used in 2023/24 to provide PlayStation and Nintendo gaming devices, plus provide a day out to the seaside for the childrens service. This is held in the form of cash.

National Lottery Community Fund

This fund relates to a grant towards the purchase of a wheelchair adapted vehicle. This was used to purchase a Red Independence 2.0 L2 Diesel Autor RE DF 2CB vehicle registration SA72GOX in collaboration with grants from Shire Community Grant and Baily Thomas.

Shire Community Grant

This fund relates to a grant towards the purchase of a wheelchair adapted vehicle. This was used to purchase a Red Independence 2.0 L2 Diesel Autor RE DF 2CB vehicle registration SA72GOX in collaboration with grants from National Lottery Community Fund and Baily Thomas.

Baily Thomas

This fund relates to a grant towards the purchase of a wheelchair adapted vehicle. This was used to purchase a Red Independence 2.0 L2 Diesel Autor RE DF 2CB vehicle registration SA72GOX in collaboration with grants from National Lottery Community Fund and Shire Community Grant.

RHS Grant re Aquaponics System

This grant is to cover the costs of setting up an Aquaponics system at the Work Shop. This is held in the form of cash.

National Lottery Grant for Minibus

This fund relates to a grant towards the purchase of a replacement vehicle for the Work Skills Service. This was used in collaboration with the grants from Garfield Weston and Edward Gostlin to buy a Ford Transit 410 Str Bus 15 Str registration HX64 JZH and is held as an asset.

Garfield Weston for Minibus

This fund relates to a grant towards the purchase of a replacement vehicle for the Work Skills Service. This was used in collaboration with the grants from National Lottery and Edward Gostlin to buy a Ford Transit 410 Str Bus 15 Str registration HX64 JZH and is held as an asset.

Edward Gostlin Grant for Minibus

This fund relates to a grant towards the purchase of a replacement vehicle for the Work Skills Service. This was used in collaboration with the grants from National Lottery and Garfield Weston to buy a Ford Transit 410 Str Bus 15 Str registration HX64 JZH and is held as an asset.

Screwfix Wheel Chair Path

These funds were used to provide a new pathway at The Old School Shepshed for improved wheelchair access. The funds were not received until the next financial year but had been promised so were included.

All Truck Employee Donation .

These funds were used to support the running costs of the Youth Club and were spent in the year.

A Mills Autism Service Icecreams .

Funds were provided by the parent of a client to provide icecreams for staff and clients of the Autism Service. The funds were spent in the year.

A Petty Autism Service Drinks

Funds were provided by a parent of a client to provide refreshments for Autism Staff as a thank you for support provided. The funds were spent in the year.

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

23 Restricted funds

(Continued)

Brooksby Agricultural College

As a thank you to the Work Skills Service for making show jumps, Brooksby Agricultural College held a fundraising event for the Work Skills Service. The funds were spent in the year.

Miracles to Believe

Fund were provided for clients to go on a Santa Boat Trip, the funds were spent in the year.

Heathcote and Associates – Youth Club

Funds were provided to support the running of the Youth Club, the funds were spent in the year.

Loughborough Greenfields

This fund relates to a donation toward the costs of running the Youth Club, the funds were spent in the year.

24 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Balance at Incoming Resources Transfers Gains and Balance at
1 April 2023 resources expended losses 31 March 2024
£ £ £ £ £ £
General funds 696,982 1,059,804 (1,106,294) - 20,552 671,044
Revaluation
reserve 184,446 - - - - 184,446
881,428 1,059,804 (1,106,294) - 20,552 855,490
Movement in funds
Balance at Incoming Resources Transfers Gains and Balance at
1 April 2022 resources expended losses 31 March 2023
£ £ £ £ £ £
General funds 791,181 913,680 (998,654) - (9,225) 696,982
Revaluation
reserve 184,446 - - - - 184,446
975,627 913,680 (998,654) - (9,225) 881,428

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

25
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2024
2024
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
424,184
31,105
Investments
254,063
-
Current assets/(liabilities)
273,257
7,340
Long term liabilities
(2,084)
-
Provisions
(93,930)
-
855,490
38,445
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
426,430
12,722
Investments
234,728
-
Current assets/(liabilities)
318,071
17,500
Long term liabilities
(3,871)
-
Provisions
(93,930)
-
881,428
30,222		 Total
2024
£
455,289
254,063
280,597
(2,084)
(93,930)
893,935
Total
2023
£
439,152
234,728
335,571
(3,871)
(93,930)
911,650

26 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2024 2023
£ £
Aggregate compensation 120,000 129,070

During the year, M Nicholls-Sykes, the daughter of Mrs L Nicholls-Sykes, was paid £nil (2023 - £894) for her services as an employee.

There were no other disclosable related party transactions during the year (2023 - none).

Docusign Envelope ID: D7CB2873-2A8A-43A4-A467-A6F3355868C4

GLEBE HOUSE (CHARNWOOD) LIMITED

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

27 Contingent liabilities

There exists a contingent liability for £102,755 in respect of a claim made by Leicestershire County Council ('The Council'). In March 2013 the charity vacated premises owned by the council. In January 2014 the council made a claim for £95,000 based on the assumption of the work required and estimated costs in respect of dilapidations. The charity instructed surveyors to carry out a survey of the building, however the council let the building and carried out the work before an independent survey could be carried out. This is not in accordance with the Royal Institute of Chartered Surveyors protocols. The anticipated costs of £95,000 were provided for in the accounts for the year ended 31 March 2013. In February 2015, the council made a revised claim on a costs incurred basis for £197,755. The charity has requested further information from the council but none has been forthcoming. Based on the advice of an independent surveyor the difference in the two claims relates to building works necessary for statutory compliance which cannot be claimed as dilapidations.

Following the advice received the trustees consider that no additional provision is necessary.

28
Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash absorbed by operations
29
Analysis of changes in net funds		 28
Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash absorbed by operations
29
Analysis of changes in net funds		 2024
£
(17,715)
(5,979)
-
(20,552)
24,908
(23,138)
(4,487)
(46,963)		 2023
£
(80,799)
(2,246)
(21)
9,246
22,556
9,217
4,908
(37,139)
At 1 April
2023
Cash flows
At 31 March
2024
£
£
£
Cash at bank and in hand
328,537
(82,599)
245,938
Obligations under finance leases
(5,658)
1,787
(3,871)
322,879
(80,812)
242,067
Analysis of changes in net funds
At 1 April Cash flows At 31 March
2023 2024
£ £ £
Cash at bank and in hand 328,537 (82,599) 245,938
Obligations under finance leases (5,658) 1,787 (3,871)
322,879 (80,812) 242,067