Charity reglstrallon number 1035805 Company registratlon number 02856210 (England and Wales) GLOUCESTERSHIRE GROUP HOMES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GLOUCESTERSHIRE GROUP HOMES LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees ASFinn J W Silverman L M Stinchcombe JMBird Charity numbèr 1035805 Company number 02856210 Registered offlce Spring Mill Business Centre Avening Road Nailsworth Gloucestershire United Kingdom GL6 OBS Auditor Griffiths Marshall 4th Floor Llanthony Warehouse The Docks GIOU￿ster GL12EH GLOUCESTERSHIRE GROUP HOMES LIMITED CONTENTS Page Trustees, report Statement of trustees, responsibilllies Independent auditorfs rèport Statement of financial activities Balance sheet 10 Statement of cash flows 11 Notes to the financial stalemenls 12-26 GLOUCESTERSHIRE GROUP HOMES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. 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 the Companies Act 2006 and "Accounting and Reporting by Charitlos.. Statement of Recommended Practice applicable to charities preparing their accoijnts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. {effective 1 January 20191. Objectives and activities Objects The charity's principal object is the provislon of a specialist service for individuals that have received a diagnosis of an Autism Spectrum Disorder. Policies and objectives The charwty via its management team evaluales the provision through regular reviews to ensure the seNice delivery is appropriate to Ihe specrfic needs of the service users and any relevant stakeholders. New ideaslapproaches or enhancements will be adopled as and when required. The Senior Management Team are responsible for ensuring ihat the main aim of the charity is to provide a secure, cartng and knowledgeable environment that enables people lo achieve thelr fullest potential. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charily should undertake. Significant activities In furtherance of ils objectives the charity provides the following: Registered small community based group homes Knowledgeable, experienced staff Close working relationships with 8xlemal Support Services Support and education for the familieslcarers Training and consultancy Individualised programmes of care and support Variety of leisure aclivilies specific to individual need statement of Public Beneflt The trustees are aware of the Public Benefft provisions of Ihe Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied that the objects of the Charily and the activities of the charity are within the definltions of Charitable Purposes as sel down In the Act. The Trustees are not aware of any public delrimenl caused by the Charity's objects or activities, and nor are they aware of anyone re￿iving any private benefit from the Charity's actlvlties. Volunteers The charity has limited interaction with volunteers as it chooses to ensure that its seNices are supported by eXperIen￿d employees. However, there are some excellent relationships with a few work experience placements and leisure providers for which we are extrernely grateful. GLOUCESTERSHIRE GROUP HOMES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performance Gloucestershire Group Homes continues to operate as a fully regislered provision for adults with the diagnosis of Autism. 2023-2024 proved to be a fairly calm year without any major extemal events, this enabled the seNice to consolldate somewhat and ensure consistency throLtghout. There was a change in senior management due to retirement and a second due to promotion into that vacancy. Care ualit Commission The setvice is undertaking a fairly major switch over to Digital Recording which is a requirement of the Care Quality Commission. All registered provisions continue to be rated as "good" with no outstanding issues. SeNice Provision The Registered Manager carries out regular quality audits and any enhancements to the individual seNices have been instigated. Fundraisin The charity does not undertake any slgnificant fundraising activities. Financial review Results The results for the year show an increase in ftjnds of £84,430 {2023: £173,724). After making adjustments to the pension scheme costs in accord8nce with SORP 2019 the net movement in funds shows a decrease of £1,347,570 (2023: increase of £1,088,724). A review of the statement of financial activities shows the following significant variations between Ihis year and last Total Income increased by 1.60/0 (2023 - 8.801.) Total expenditure increased by 7.80/0 (2023 . 3.20/0 decrease) The defined benefit pension scheme operated by the charity is having a signEficant impact on the stalemenl of financial activities and the balance sheet. The trustees are aware that the surplus does not represent an immediate cash fflow and solvency problem but is subject to future investment performance and chang8s in membership profile of the scheme. It does indicate that the charily may be required to make increased pension contributions for the foreseeable future. Reserves Policy It is the policy of the Charity to hold reseNes equivalent to the value of Iwelve w8eks' running costs. This should allow the Charity to meet any unforeseen fall in its income wtthout prejudicing its objectives. As at 31 March 2024 the unrestricted free reseNes {excluding fixed assets and the pension reserve) of the charity are £620,38412023.' £581,465). This represents 24 weeks direct charftable expenditure, which is more than the cu￿ent policy. The trustees have decided to hold more reseNes than charity pollcy dictates at the present time due to expected future reductions in local authority income. As at 31 March 2024, the rèstricted reserves of the charity (Including fixed assets) are £14,357 {2023.' £13,019) and relate lo a replacement vehicle fund. Material Investments Pollcy The committee has considered the most appropriate policy for investing funds and has found that a specialised deposit taker, designed for the charity sector, meets their requirements to generale Sncome and to safeguard the capltal balance. The committee considers the interest rale offered by their bankers to be satisfactory in view of current inlerest rale levels. GLOUCESTERSHIRE GROUP HOMES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Managamènt The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. This is reviewed and updated on an annual basis or as and when necessary. The charity has reviewed and enhanced policy and procedures in connection with their insurance requirernenls. The charity is registered with the Care Quality Commlssion. Procedures are in place to ensure compliance with the Health and Safety at Work Act 1974. Principal risks Within the care sector as a whole there continues to be a staffing crisis, however Gloucestershire Group Homes has worked hard to relain Its current level of staffing and will continue lo monitor thls situation as a priority. The service needs to ensure the relationship with Its clients (Local Authorities) Is maintsined in order lo ensure appropriate levels of funding contlnues. Should the service have a void for any reason there exists a level of reserves to support such a situation, however action would be required to ensure long term vlabllity. Future Developments To continue lo ensure that the Gloucestershire Group Homes, residential services meet the Care Quality Commission requirements and specifically endeavour to provide a needs4ed Servi￿ for its service users. To continue to assess the need for appropriale outreach setvices and the ability of Gloucestershire Group Homes to provide innovalive support. Going Concern After making appropriate enquiries, the trnstees have a reasonable expectation Ihat the charity has adequate reSoUr￿S to continue in operalional existen￿ for the foreseeable future. For this reason they continue to adopt the going concem basis in preparing the financial statements. Further delails rogarding the adoption of tha golng concem basis can be found in the accounting policies. Stwcture, governan¢e and management The organisation is a charitable company lirnited by guarantee, incorporated on 23 September 1993 and registered as a charity on 30 March 1994. The company was established by a Memorandum of Association on 26 August 1993, which aslablished the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up the members are required to contribute an amount not exceeding £1 each. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial slatements were.. E A Cawston (Resigned 19 October 2023) ASFinn J W Silverman L M Stinchcombe JMBird Audltor In accordan￿ with the company's articles, a resolution proposing that Griffiths Marshall be reappointed as auditor ofthe company wll be put at a General Meeting. GLOUCESTERSHIRE GROUP HOMES LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Th& trustees, report was approved by thè Board of Trustees. J W Silveman Trustea 7 November 2024 GLOUCESTERSHIRE GROUP HOMES LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Gloucestershire Group Homes Limited for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards {United Kingdom GenerallyAccepted Accounting Practice). Company Law requlres the trustees to prepare financlal statements for each financial year whioh give a tnje and fair view of the state of affairs of the charity and of the incoming resources and applicalion of resources, including ihe income and expenditure, of the charitable company for that year. In preparing these financial stalements, the trustee5 are required lo: select suitable accounting policies and then apply them consistently: observe the methods and principles In the Charities SORP., make judgements and estimates that are reasonable and prudenl. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial stslements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume thal the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and Integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governlng the preparation and dissemlnatlon of financial ststements may differ from legislation in otherjurisdictions. GLOUCESTERSHIRE GROUP HOMES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GLOUCESTERSHIRE GROUP HOMES LIMITED Oplnlon We have audited the financial stateménts of Grou￿stersh1re Group Homes Limited (the 'charity'l for the year ended 31 March 2024 which comprise the stalemenl of financial activities, the balance sheet, the ststement 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 AC￿pt&d Accounting Practice). In our opinion, the financial statements.. glve a tnje and fair view of the state of the charitable company's affalrs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accept8d Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing {UKI (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditows responsibilities for the audit of the financial st8t8ments section of our report. We are independent of the charity 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 approprlate to provide a basis for our opinion. Conclusions relating to going concem 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 perfomed, we have not idenlifled any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issuo. 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 annual report other Ihan the financial slatements and our audito¢s report Ihereon. The Iruslees are responsible for the other information contsined wilhin the annual report. Our opinion on the financial statements does not cover the other infomation and we do not express any fomi of assuran￿ conclusion thereon. Our responsibility is lo read the other infomation and, in doing so, consider whether the other infomation is materially inconsistent wilh the financial statements or our knowledge obtained in the course of the audit, or othenmise appears to be materially misstated. If we identify sijch material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misst81ement 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. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statemenls is inconsistent in any material respect with the trustees, report; or sufficient accounting records have not been kept,. or the financial staternents are not in agreement with the accounting records., or we have not received all the infonnation and explanations we require for our audit. GLOUCESTERSHIRE GROUP HOMES LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GLOUCESTERSHIRE GROUP HOMES LIMITED Responslbllitles of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charily for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a Irue 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 tnjslees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable, mallers related to going concem and using the going concem basls of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or have no realislic alternative but to do so. Auditor's responslbllltles for the audrt of the financlal statements We have been appointed as auditor under section 144 of the Charities Acl 2011 and report In accordance with the Act and relevant regulations made or having effect thereunder. 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 auditorfs report that includes our opinion. Reasonable assuran￿ is a high level of assurance but is not a guarantee Ihat an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when il exists. Misstaternents can arise from fraud or error and are wnsidereé material if, Individually or in the aggregate, they could reasonably be 6xpected to influen the economic decisions of users taken on the basis of these financial statéments. Extent to which the audit was capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. W8 design procedures In line with our responsibilitSes, outlined above. lo detecl material misstatements in respect of irregulartties, including fraud. The extent to which our procedures are capable of detecting irregularitles, including fraud, is delalled below. We obtain an understanding of the of the entity, its activities, its control environment, and likely future developmenls, including in relation to the legal and regulatory framework applicable and how the entity IS Gomplying with that framework. Based on this undèrstanding, we identify and assess the risk of material misstatament of the financial statements whether due to fraud or error, design and perfonm audit procedure responsive to those risks, and obtain audtt evidence that is sufficient and appropriatè to provide a basis for our opinlon. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the rlsk of irregularities and non Baslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financlal liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaGlion, where the debl inslrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classlried as payable within one year are nol amortised. Debt instNments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenled as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial Ilabllities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Provisions Provisions are recognised when the charity has a legal or oonstructive 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. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to b8 required to settle th8 obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net incomel(expenditure) in the period in which it arises. 1.11 Employee banefits The cost of short-temi employee benefits are recognised as a liability and an expense, unless Ihose costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which Ihe employee's services are received. Temination benefits are recognised immediately as an expense when the charity is demonstrably commltted to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits The cost of providing benefits under defined benefft plans is detemiined separately for each plan using the projected unit Gredit method, and is based on actuarial advice. The change in the net defined benefit liability arlsing from employee seNice during the year is recognlsed as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are r6cognised as incurred. 14- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies {Continued) The net interest element is determined by multiplying the net defined benefit liability by the diswunt rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in incomel{expenditure) for the year. Remeasurement changes comprise actuarial gains and losses, the effect ofthe asset celling and the return on the net defined benefit liability excluding amounts included in net Interest. These are recognised immediately in other recognised gains and losses in the period in which they occur and are not reclassified to incomel {expenditurel in subsequent periods. The nel defined beneflt pension asset or liability In the balan¢e sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled direclly. Fair value is based on market price infomiation, and in the case of quoted securltles is the published bid price. The value of a net pension benefit asset is limited to Ihe amount that may be recovered either through reduced contributions or agreed refunds from the scheme. Critical accountlng estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrylng amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hlstoriGal experience and other factors that are consldered to be relevant. Actual results may differ from these esllmates. The estimates and underlying assumptions are revlewed on an ongoing basls. 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. Key sources of estlmatlon uncertainty Defined beneflt penslon scheme The present value of the Local Government Pension schemo defined benefit liability depends on a number of factors that are detem)ined on an actuarial basis using a variety of assumptions. The assumptions used in determining th8 net Cost (income) for ponsions include the discount rate. Any changes in these assumptions, which are disclosed in note 15, will impact the carrying amount of tho pension surplus. Furthermore a roll foward approach which projects results from the latest ftjll actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions surplus at 31 March 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact the canying amount of the pension surplus. A change in the financial conditions has led to a gain for the period and results in a surplus as at 31 March 2024 detailed on note 15. The surplus is restricted In accordance with the asset ceiling report and is recognised at the net assetlliability position. 15 GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donaitons and legacies Unrestrlcted Restricted funds funds 2024 2024 Total Unrestrfficted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies receivable Government grants Partner rewards Membership fees 4,435 119,558 8,997 2,478 175 2.847 7,282 119,558 8,997 2,478 175 5,253 205,000 29,592 13,500 18,753 205,000 29,592 210 210 135.643 2,847 138,490 240,055 13,500 253,555 Grants receivable for core activities Worf(force Capacity Fund grant Other Covid-19 related grant funding other 13,480 13,480 16,112 16,112 11,475 11,475 11,475 11,475 29,592 29,592 Income from charltable actlvities Unrestrlcted funds 2024 Unrestncted funds 2023 Local Authorities & Department of Work and Pensions {LA&DWPI 1,449,346 1,374,272 Income from Investments Unrestrlcted Unrestricted funds funds 2024 2023 Interest receivable Net interest on defined benefft pension scheme 13,636 65,000 1,099 12,000 78,636 13,099 16 O fD O) (D CO Lf) c*) ¢YJ Ln GJ fo e4 ¢5) ¢5) ￿- ) f41 r O L() Co Ln O) (D QJ its C4 Ln ￿ G) r crj r CO (J) DJ O CQ (D Ln ff) (Q ttj in ) r ￿ IJ) (N ￿ ¢0 O (D aj )¢oo (t) Ln GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities 2024 2023 Staff costs Bank charges Printing and stationery Telephone Equipment depreciation Equipment Rent Sundry GovemancE costs 189,530 667 3,469 5,785 2.793 714 19,200 6,467 6,083 183,149 643 3,324 5,324 2,730 1,075 16,592 6,664 6,286 234.708 225,787 Analysed between: Day Servic8s & Outreach Houses 11,288 214,499 234,708 234,708 225,787 Truslees Durtng the year, no Trustees received remLfneralion (2023.. £Nill or any benefits in kind (2023: £Nill. During the year, expenses of £Nil {2023.' £Nil) were reimbursed to Trustees. Employees The average monthly number of employees durfng the yearwas.. 2024 Number 2023 Number Hom8S Office 34 37 Total 38 41 Ernployment costs 2024 2023 Wages and salaries Social securtty costs Other pension costs 1,024,522 91,359 47,181 921,933 80,365 78,501 1,163,062 1,080,799 18- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees (Continued) The number of employees whose annual remuneration was more than £60,000 is as follows.. 2024 Number 2023 Number In the band £60,001- £70,000 Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 143,851 141,659 10 Taxation The charity is exempt from taxation on ils activities because all Its income is applied for ch8ritsble purposes. 11 Tangible fixed assets Land and bulldings Leasehold land and buildings Fixtures. fittings and equlpmènt Motor vehicles Total Cost At 1 April 2023 Additions Dlsposals 311,030 117,691 495 (185} 96,185 8,575 {7061 39,069 9.995 (5,1501 563,975 19,065 (6,0411 At 31 March 2024 311,030 118,001 104,054 43,914 576,999 Depreelation and impalrment At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 224,187 12,374 86,070 10,428 75,543 8,952 (6181 22,811 4,798 (4,2281 408,611 36,552 (4,8461 At 31 March 2024 236,561 96,498 83,877 23,381 440,317 Carying amount At 31 March 2024 74,469 21.503 20,177 20,533 136,682 At 31 March 2023 86,843 31,621 20,644 16,258 155,366 19- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 12,952 34,516 7,606 24,768 47,468 32,374 13 Credltors: amounts falling due wlthln one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 21,723 13,247 9,563 13,472 12,667 20,875 17,486 11,044 12,246 10,751 14 70,672 72,402 14 Deferred income 2024 2023 Other deferred income 13,247 17,486 Deferred income is included in the financial statements as follows.. 2024 2023 Deferred income is included within= Current Ilabilities 13,247 17,486 Movements In the year.. Deferred Income at 1 April 2023 Released from previous periods Resources deferred in the year 17,486 {17,4861 13,247 20,321 {20,321) 17,486 Deferred income at 31 March 2024 13,247 17,486 At the balance sheet date, the charitable company was holding funds received in advance for 2Q24125 in respect of residential fee income. -20- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retirement benefit schemes Defined contrfbutlon schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. Dèfined benefit schemes The Charity operates a defined benefit schem& as detailed in the accounting polciies. The scheme is no longer open lo new employ8es. The LGPS is a funded defined benefit pension scheme, with the assets held in seperate trustee-administ8red funds. Valuation The latest actuarial valuation of the LGPS related to the period ended 31 March 2022. A roll fO￿ard approach has been used by the actuary in valuing the pensions liability at 31 March 2024. Key assumptions 2024 2023 Discount rate Expected rate af increase of pensions in payment Expected rate of salary increases 4.75 Mortality assumptions The assumed life expectations on retirement at 8ge 65 are: 2024 2023 Years Years Retiring today Males Females 21.1 24.8 21.30 25.0 Retiring in 20 years - Males Females 20.1 25.7 20.3 25.90 Amounts recognised in th6 profit and loss account: 2024 2023 Current service cost Nee interest on defined benefil liabilityl{asset) 32.000 (65.000) 67,000 {12,000) Total costsl(income) (33.000) 55,000 21 GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retlrement benefit schemes (Continued) Amounts taken to other comprehensive income.. 2024 2023 Actual return on schème assets Less.. calculated interest element {218,000) 218,000 260,OQO 133,000 Return on scheme assets excluding interest income Actuarial changes related to obligations Effects of changes in the amount of surplus that is not recoverable 393.000 (1,308,000) 1,432,000 Total coslsl{income) 1,432,000 (915,0001 The amounts included in the balance sheet arising from the charity's obligations in respect of defined benefit plans are as follows: 2024 2023 Present value of defined benefit obligations Fair value of plan assets 3,350,000 3,265,000 {4,782.000) {4,627,0001 Surplus in scheme {1.432,000) {1,362,0001 Restriction on scheme assets 1,432,000 Totsl liabilityl(assell recognised (1,362,000) Movements in the present value of defined benefit obligations.. 2024 Liabilities al 1 April 2023 Current service cost Benefits paid Contributions from scheme members Interest cost 3,265,000 32,000 1108,0001 8,000 153,000 At 31 March 2024 3,350,000 The defined benefit obligations arise from plans which are wholly or partly funded. -22- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retirement boneflt schemes (Continued) Movements in the fair value of plan assets.. 2024 Fair value of assets at 1 April 2023 Interest income Benefits paid Contributions by the employer Contributions by scheme members 4,627,000 218,000 {108,000) 37,000 8,000 At 31 March 2024 4,782,000 The actual retum on plan assets was £218,00012023- £260,000). The fair value of plan assets at the reporting pèriod end was as follows.. 2024 2023 Equity instruments Debt instruments Propety Cash 3,060,480 1,052,040 621,660 47,820 2,962,000 1,018,000 555,000 92,000 4,782,000 4,627,000 16 Restrlcted funds The restrlcted fijnds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Motor vehicle fund 13,019 2,847 (2,852) 1,343 14,357 Prevlous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Motor vehicle fund 13,500 (481) 13,019 -23- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestricted funds The unrestricted funds ofthe charity comprise the unexpended balances ofdonations and grants which are not stAbject to specific condilions by donors and grantors as to how they may be used. These include designaled funds which have been set aside out of unrestrlcted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resource5 expended Transfers Gains and At 31 March losses 2024 Defined benefit pension scheme General funds 1,362,000 729,617 65,000 1,598,625 {32,0001 (1,547,190) (1,395,000) (37,000) (1,343) 742,709 2,091,617 1,663,625 {1,579,190) {1,3431 (1,432,000) 742,709 Previous year: At 1 Aprll 2022 Incoming resources Resourees expended Transfers Gains and At 31 March losses 2023 Defined benefit pension scheme General funds 451,000 564,912 12,000 1,615,426 {16.000) (1,450,721) 915,QOO 1,362,000 729,617 1,015.912 1,627,426 {1,466,721) 915,000 2,091,617 The gainlllossl on the defined benefit pension scheme comprises of a transfer of £37,000 from general funds in relation to employers conlribulions paid, plus a gain on remeasurement of th6 assets and liabililies of £359,000. Thls resulted in a closing position per the actuarial annual report of £1,791,000, which has subsequently been treated as a loss in full due to the impact of the asset ceiling. Therefore Ihe net loss on the defined benefit pension schème is £1,395,000. 18 Analysis of net assets between funds Unrestricted funds 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilitles) 122,325 620,384 14,357 136.682 620,384 742,709 14,357 757,066 -24- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds (Contlnued) Unreslricted funds 2023 RestrScted funds 2023 Total 2023 At 31 March 2023: Tangible assets Currènt assetsl(liabilitiesl Provisions and pensions 148,152 581,465 1,362,000 7,214 5,805 155,366 587,270 1,362,000 2,091,617 13,019 2,104,636 19 Financial commitmentsy guarantees and contingent liabilities At the reporting end date the charity had outstanding commitments for future minimum lease payments under a verbal agreement, which tolalled £Nil (2023 £Nil). 20 Operating leasè commitments Lessèe Al the reporting end date the charity had outstanding commitments for future minlmum lease payments under nonrfancellab18 operating leases, which fall due as follows.. 2024 2023 Within one year Belween two and five years In over five years 11Q,808 406,799 274,603 125,712 422,807 369,403 792,210 917,922 21 Related party transactlons During the year ended 31 March 2024, rent tolallSng £105,323 (2023.. £94,800) was paid lo Birnbeck Housing Association Limited, of which the trustee J Silverman was the chief executive officer until his retirement on 30th Aprfl 2024. The rent was in respect of Wortley Willa, The Old Dairy and Churchill Road properties and all transactions were completed at an amis length. During the year, Bimbeck Housing Association Limiled donated £1,63812023: £1,638) to the charity. During the year. £6,325 {2023'. £2,875} was paid to J Bird In the form ofconsultancy fees. -25- GLOUCESTERSHIRE GROUP HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Cash generated from operations 2024 2023 (Deficit)Isurpus for the year 84,430 173,724 Adjustmenls for.. Investment income recognised in statement of financial activities Loss on disposal of langible fixed assets Depreaation and impairment oftsngible fixed assets Difference belween pension charge and cash contributions {13,636) 1,009 36,552 {70,000) (1,099) 795 38,666 4,000 Movements in working capital= (Increase)Idecrease in debtors Increasel(decreasel in credilors {Decrease) in deferred income (15,094) 2,509 (4,239) 7,245 (11,704) 12,8351 Cash generated from operatlons 21,531 208,792 -26-