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← Gloucestershire Group Homes Limited

2025-03-31-accounts

Charity registration number 1035805 (England and Wales) Company registration number 02856210

GLOUCESTERSHIRE GROUP HOMES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GLOUCESTERSHIRE GROUP HOMES LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

A S Finn L M Stinchcombe J M Bird M E J Pearson (Appointed 4 July 2024)

Charity number (England and Wales) 1035805 Company number 02856210 Registered office Spring Mill Business Centre Avening Road Nailsworth Gloucestershire United Kingdom GL6 0BS Auditor Griffiths Marshall 4th Floor Llanthony Warehouse The Docks Gloucester Gloucestershire GL1 2EH

GLOUCESTERSHIRE GROUP HOMES LIMITED

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 26

GLOUCESTERSHIRE GROUP HOMES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

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 Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objects

The charity's principal object is the provision of a specialist service for individuals that have received a diagnosis of an Autism Spectrum Disorder.

Policies and objectives

The charity via its management team evaluates the provision through regular reviews to ensure the service delivery is appropriate to the specific needs of the service users and any relevant stakeholders.

New ideas/approaches or enhancements will be adopted as and when required.

The Senior Management Team are responsible for ensuring that the main aim of the charity is to provide a secure, caring and knowledgeable environment that enables people to achieve their fullest potential.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Significant activities

In furtherance of its objectives the charity provides the following:

Statement of Public Benefit

The trustees are aware of the Public Benefit provisions of the Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied that the objects of the Charity and the activities of the charity are within the definitions of Charitable Purposes as set down in the Act. The Trustees are not aware of any public detriment caused by the Charity's objects or activities, and nor are they aware of anyone receiving any private benefit from the Charity's activities.

Volunteers

The charity has limited interaction with volunteers as it chooses to ensure that its services are supported by experienced employees.

However, there are some excellent relationships with a few work experience placements and leisure providers for which we are extremely grateful.

2024-2025

There were a couple of significant changes with the regard to individual clients which resulted in the sad loss of one and the need for the other to be relocated back to his local authority.

The Service will be reviewing its provision and looking into servicing the two voids with replacement contracts.

GLOUCESTERSHIRE GROUP HOMES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Gloucestershire Group Homes continues to operate as a fully registered provision for adults with the diagnosis of Autism.

All registered provisions continue to be rated as "good" with no outstanding issues.

Service Provision

The Registered Manager carries out regular quality audits and any enhancements to the individual services have been instigated.

Fundraising

The charity does not undertake any significant fundraising activities.

Financial review

Results

The results for the year show an increase in funds of £72,731 (2024: £84,430). This includes net interest on defined benefit schemes of £86,000 (2024: £65,000). After making adjustments to the pension scheme gains/losses in accordance with SORP 2019 the net movement in funds shows a decrease of £18,269 (2024: decrease of £1,347,570).

The defined benefit pension scheme operated by the charity is having a significant impact on the statement of financial activities and the balance sheet. The trustees are aware that the surplus does not represent an immediate cash flow and solvency problem but is subject to future investment performance and changes in membership profile of the scheme. It does indicate that the charity may be required to make increased pension contributions for the foreseeable future.

Reserves Policy

It is the policy of the Charity to hold reserves equivalent to the value of twelve weeks' running costs. This should allow the Charity to meet any unforeseen fall in its income without prejudicing its objectives.

As at 31 March 2025 the unrestricted free reserves (excluding fixed assets and the pension reserve) of the charity are £611,056 (2024: £606,027). This represents 19 weeks direct charitable expenditure, which is more than the current policy. The trustees have decided to hold more reserves than charity policy dictates at the present time due to expected future reductions in local authority income.

As at 31 March 2025, the restricted reserves of the charity (including fixed assets) are £18,090 (2024: £14,357) and relate to a replacement vehicle fund and sensory garden.

Material Investments Policy

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 generate income and to safeguard the capital balance. The committee considers the interest rate offered by their bankers to be satisfactory in view of current interest rate levels.

GLOUCESTERSHIRE GROUP HOMES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Risk Management

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to 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 requirements.

The charity is registered with the Care Quality Commission. 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 retain its current level of staffing and will continue to monitor this situation as a priority.

The service needs to ensure the relationship with its clients (Local Authorities) is maintained in order to ensure appropriate levels of funding continues. 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 viability.

Future Developments

To continue to ensure that the Gloucestershire Group Homes' residential services meet the Care Quality Commission requirements and specifically endeavour to provide a needs-led service for its service users.

To continue to assess the need for appropriate outreach services and the ability of Gloucestershire Group Homes to provide innovative support.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Structure, governance and management

The organisation is a charitable company limited 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 established 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 statements were:

A S Finn J W Silverman (Resigned 10 February 2025) L M Stinchcombe J M Bird M E J Pearson (Appointed 4 July 2024)

Auditor

In accordance with the company's articles, a resolution proposing that Griffiths Marshall be reappointed as auditor of the company will be put at a General Meeting.

GLOUCESTERSHIRE GROUP HOMES LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees' report was approved by the Board of Trustees.

J M Bird Trustee

23 October 2025

GLOUCESTERSHIRE GROUP HOMES LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

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 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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 charity 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 charity 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

GLOUCESTERSHIRE GROUP HOMES LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF GLOUCESTERSHIRE GROUP HOMES LIMITED

Opinion

We have audited the financial statements of Gloucestershire Group Homes Limited (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 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 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 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 annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

GLOUCESTERSHIRE GROUP HOMES LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GLOUCESTERSHIRE GROUP HOMES LIMITED

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity 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 charity’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

We have been appointed as auditor under section 144 of the Charities Act 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 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.

Extent to which the audit was capable of detecting irregularities, including fraud

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.

We obtain an understanding of the of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risk of material misstatement of the financial statements whether due to fraud or error, design and perform audit procedure responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 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 risk of irregularities and non-compliance with laws and regulations including fraud we designed procedures which included, but were not limited to:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

GLOUCESTERSHIRE GROUP HOMES LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GLOUCESTERSHIRE GROUP HOMES LIMITED

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 charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Greg Lewis (Senior Statutory Auditor)

For and on behalf of Griffiths Marshall, Statutory Auditor Chartered Accountants 4th Floor Llanthony Warehouse The Docks Gloucester Gloucestershire GL1 2EH 23 October 2025

Griffiths Marshall is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

GLOUCESTERSHIRE GROUP HOMES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
169,629
7,000
Charitable activities
4
1,444,214
-
Investments
5
109,972
-
Total income
1,723,815
7,000
Expenditure on:
Charitable activities
Service Users
6
20,039
-
Houses
6
1,636,247
3,267
Total charitable
expenditure
1,656,286
3,267
Other expenditure
(1,469)
-
Total expenditure
1,654,817
3,267
Net income
68,998
3,733
Transfers between
funds
-
-
Other recognised
gains and losses:
Actuarial losses on
defined benefit pension
schemes
(91,000)
-
Net movement in
funds
(22,002)
3,733
Reconciliation of funds:
Fund balances at 1 April 2024
742,709
14,357
Fund balances at 31 March
2025
720,707
18,090		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
176,629
135,643
2,847
138,490
1,444,214
1,449,346
-
1,449,346
109,972
78,636
-
78,636
1,730,815
1,663,625
2,847
1,666,472
20,039
21,970
-
21,970
1,639,514
1,556,211
2,852
1,559,063
1,659,553
1,578,181
2,852
1,581,033
(1,469)
1,009
-
1,009
1,658,084
1,579,190
2,852
1,582,042
72,731
84,435
(5)
84,430
-
(1,343)
1,343
-
(91,000)
(1,432,000)
-
(1,432,000)
(18,269)
(1,348,908)
1,338
(1,347,570)
757,066
2,091,617
13,019
2,104,636
738,797
742,709
14,357
757,066

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

GLOUCESTERSHIRE GROUP HOMES LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
Defined benefit pension liability
15
The funds of the charity
Restricted income funds
16
Unrestricted funds		 2025
£
42,502
658,055
700,557
(71,411)		 £
109,651
629,146
738,797
738,797
-
18,090
720,707
738,797		 2024
£
47,468
643,588
691,056
(70,672)		 £
136,682
620,384
757,066
757,066
-
14,357
742,709
757,066

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 23 October 2025

J M Bird Trustee

Company registration number 02856210 (England and Wales)

GLOUCESTERSHIRE GROUP HOMES LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
22
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in) investing
activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(8,146)
2,579
23,972		 £
(3,938)
18,405
-
14,467
643,588
658,055		 2024
£
(19,065)
189
13,636		 £
21,530
(5,240)
-
16,290
627,298
643,588

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Gloucestershire Group Homes Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Spring Mill Business Centre, Avening Road, Nailsworth, Gloucestershire, GL6 0BS, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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. The principal accounting policies adopted are set out below.

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.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Investment income gains and losses are allocated to the appropriate fund.

1.4 Income

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from government and other grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its clients. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at headquarters.

Governance costs included those costs associated with meeting the constitution and statutory requirements of the Charity and include the audit fees and costs linked to strategic management of the charity. It also includes the costs of running the office that manages the charity's homes.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on the basis of management estimates of the amount attributable to that activity in the year either by reference to staff time, space occupied, or estimated usage, as appropriate.

1.6 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:

Land and buildings 4% straight line Leasehold land and buildings Over the length of the lease Fixtures, fittings and equipment 25% straight line Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 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 is estimated in order to determine the extent of the impairment loss (if any).

1.8 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic 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 financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at 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 presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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 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.

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 be required to settle the 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 income/(expenditure) in the period in which it arises.

1.11 Employee benefits

The cost of short-term employee benefits are recognised as a liability and an expense, unless those 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 the employee’s services are received.

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

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

Key sources of estimation uncertainty

Defined benefit pension scheme

The present value of the Local Government Pension scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 15, will impact the carrying amount of the pension surplus. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions surplus at 31 March 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact the carrying amount of the pension surplus.

Note 15 shows the scheme assets exceed the projection obligation resulting in a surplus as at 31 March. In accordance with the asset ceiling report the surplus is restricted to match the forecasted liabilities so that no asset is recognised on the balance sheet.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
2,309
7,000
Legacies receivable
165,000
-
Government grants
1,780
-
Partner rewards
325
-
Membership fees
215
-
169,629
7,000
Grants receivable for core activities
Client contributions
1,780
-
Other
325
-
2,105
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
9,309
4,435
2,847
165,000
119,558
-
1,780
8,997
-
325
2,478
-
215
175
-
176,629
135,643
2,847
1,780
-
-
325
11,475
-
2,105
11,475
-		 Total
2024
£
7,282
119,558
8,997
2,478
175
138,490
-
11,475
11,475

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Local Authorities & Department of Work and Pensions (LA&DWP) 1,444,214 1,449,346
5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 23,972 13,636
Net interest on defined benefit pension scheme 86,000 65,000
109,972 78,636

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Charitable activities

LA&DWP -
Clients
LA&DWP -
Houses
2025
2025
£
£
Staff costs
-
1,041,736
Depreciation and
impairment
-
31,020
Housekeeping
1
74,563
Activities and holidays
18,548
-
Motor and travel
1,490
29,334
Equipment and
maintenance
-
21,561
Registration fees
-
2,884
Rent and rates
-
146,049
Light and heat
-
10,553
Hire of equipment
-
3,018
Telephone
-
1,037
Insurance
-
22,433
Professional fees
-
5,229
Other expenses
-
9,304
20,039
1,398,721
Share of support costs
(note 7)
-
234,806
Share of governance
costs (note 7)
-
5,987
20,039
1,639,514
Analysis by fund
Unrestricted funds -
general
20,039
1,636,247
Restricted funds
-
3,267
20,039
1,639,514		 Total
2025
LA&DWP -
Clients
LA&DWP -
Houses
2024
2024
£
£
£
1,041,736
-
973,532
31,020
-
33,758
74,564
(1)
74,975
18,548
19,176
-
30,824
2,795
20,575
21,561
-
20,140
2,884
-
2,884
146,049
-
138,960
10,553
-
13,292
3,018
-
3,753
1,037
-
1,612
22,433
-
20,034
5,229
-
11,212
9,304
-
9,628
1,418,760
21,970
1,324,355
234,806
-
228,625
5,987
-
6,083
1,659,553
21,970
1,559,063
1,656,286
21,970
1,556,211
3,267
-
2,852
1,659,553
21,970
1,559,063		 Total
2024
£
973,532
33,758
74,974
19,176
23,370
20,140
2,884
138,960
13,292
3,753
1,612
20,034
11,212
9,628
1,346,325
228,625
6,083
1,581,033
1,578,181
2,852
1,581,033

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Support costs allocated to activities

Staff costs
Bank charges
Printing and stationery
Telephone
Equipment depreciation
Equipment
Rent
Sundry
Governance costs
Analysed between:
Houses		 2025
£
194,826
478
4,008
4,707
3,047
519
19,200
8,021
5,987
240,793
240,793		 2024
£
189,530
667
3,469
5,785
2,793
714
19,200
6,467
6,083
234,708
234,708

8 Trustees

During the year, one Trustee, M Pearson, received remuneration of £6,972 in relation to care provided to clients following his appointment as a Trustee on the 4th July 2024 (2024: £Nil). No pension contributions were paid (2024:£nil).

During the year, no benefits in kind were paid to Trustees (2024: £nil) and no expenses were reimbursed to Trustees (2024: £Nil).

9 Employees

The average monthly number of employees during the year was:

Homes
Office
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
35
4
39
2025
£
1,093,137
98,225
45,200
1,236,562		 2024
Number
34
4
38
2024
£
1,024,522
91,359
47,181
1,163,062

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Employees

(Continued)

The number of employees whose annual remuneration was more than £60,000
is as follows:
In the band £60,001 - £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2025
Number
2
2025
£
147,765		 2024
Number
-
2024
£
143,851

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024		 Land and
buildings
Leasehold
land and
buildings
Fixtures,
fittings and
equipment
£
£
£
311,030
118,001
104,054
-
-
4,451
-
-
(538)
311,030
118,001
107,967
236,562
96,498
83,876
12,274
7,251
9,270
-
-
(487)
248,836
103,749
92,659
62,194
14,252
15,308
74,469
21,503
20,177		 Motor
vehicles
£
43,914
3,695
(4,995)
42,614
23,380
5,271
(3,934)
24,717
17,897
20,533		 Total
£
576,999
8,146
(5,533)
579,612
440,316
34,066
(4,421)
469,961
109,651
136,682

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Debtors

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
14
Trade creditors
Other creditors
Accruals
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2024
Released from previous periods

Resources deferred in the year
Deferred income at 31 March 2025		 2025
2024
£
£
5,757
12,952
36,745
34,516
42,502
47,468
2025
2024
£
£
22,085
21,723
18,372
13,247
12,387
9,563
8,003
13,472
10,564
12,667
71,411
70,672
2025
2024
£
£
18,372
13,247
2025
2024
£
£
18,372
13,247
13,247
17,486
(13,247)
(17,486)
18,372
13,247
18,372
13,247

13 Creditors: amounts falling due within one year

14 Deferred income

At the balance sheet date, the charitable company was holding funds received in advance for 2024/25 in respect of residential fee income.

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 18,200 15,181

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.

Defined benefit schemes

The Charity operates a defined benefit scheme as detailed in the accounting polciies. The scheme is no longer open to new employees. The LGPS is a funded defined benefit pension scheme, with the assets held in seperate trustee-administered funds.

Valuation

The latest actuarial valuation of the LGPS related to the period ended 31 March 2022.

A roll forward approach has been used by the actuary in valuing the pensions liability at 31 March 2025.

Key assumptions

Key assumptions
2025 2024
% %
Discount rate 5.8 4.8
Expected rate of increase of pensions in payment 2.8 2.8
Expected rate of salary increases 3.3 3.3

Mortality assumptions

The assumed life expectations on retirement at age 65 are:

Mortality assumptions
The assumed life expectations on retirement at age 65 are:
2025 2024
Years Years
Retiring today
- Males 21.1 21.1
- Females 24.8 24.8
Retiring in 20 years
- Males 20.0 20.1
- Females 25.7 25.7
Amounts recognised in the profit and loss account 2025 2024
Costs/(income): £ £
Current service cost 27,000 32,000
Net interest on defined benefit liability/(asset) (86,000) (65,000)
Total costs/(income) (59,000) (33,000)

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Retirement benefit schemes (Continued)
Amounts recognised in other comprehensive income 2025 2024
Costs/(income): £ £
Actual return on scheme assets (242,000) (218,000)
Less: calculated interest element 265,000 (82,000)
Return on scheme assets excluding interest income 23,000 (300,000)
Net interest income credited to the income statement (494,000) (59,000)
Restriction on surplus 562,000 1,791,000
Total costs 91,000 1,432,000
The amounts included in the balance sheet arising from the charity's
obligations in respect of defined benefit plans are as follows:
2025 2024
Liabilities/(assets): £ £
Present value of defined benefit obligations 2,872,000 3,291,000
Fair value of plan assets (5,225,000) (5,082,000)
Surplus in scheme (2,353,000) (1,791,000)
Restriction on scheme assets 2,353,000 1,791,000
Total liability recognised - -
2025
Movements in the present value of defined benefit obligations £
Liabilities at 1 April 2024 3,291,000
Current service cost 27,000
Benefits paid (115,000)
Contributions from scheme members 7,000
Actuarial gains and losses (494,000)
Interest cost 156,000
At 31 March 2025 2,872,000

The defined benefit obligations arise from plans which are wholly or partly funded.

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

15
Retirement benefit schemes
Movements in the fair value of plan assets
Fair value of assets at 1 April 2024
Interest income
Return on plan assets (excluding amounts included in net interest)
Benefits paid
Contributions by the employer
Contributions by scheme members
At 31 March 2025
The actual return on plan assets was £242,000 (2024 - £218,000).
Fair value of plan assets
Equity instruments
Debt instruments
Property
Cash		 (Continued)
2025
£
5,082,000
242,000
(23,000)
(115,000)
32,000
7,000
5,225,000
2025
2024
£
£
3,239,500
3,060,480
1,149,500
1,052,040
731,500
621,660
104,500
47,820
5,225,000
4,782,000

16 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.

Motor vehicle fund
Sensory garden fund
Previous year:
Motor vehicle fund		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
14,357
-
(3,267)
-
7,000
-
14,357
7,000
(3,267)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
13,019
2,847
(2,852)		 Transfers
At 31 March
2025
£
£
-
11,090
-
7,000
-
18,090
Transfers
At 31 March
2024
£
£
1,343
14,357

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 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.

Defined benefit
pension scheme
General funds
Previous year:
Defined benefit
pension scheme
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
-
86,000
(27,000)
742,709
1,637,815
(1,648,817)
742,709
1,723,815
(1,675,817)
At 1 April
2023
Incoming
resources
Resources
expended
1,362,000
65,000
(32,000)
729,617
1,598,625
(1,547,190)
2,091,617
1,663,625
(1,579,190)		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
-
(59,000)
-
-
(32,000)
699,707
-
(91,000)
699,707
Transfers
Gains and
losses
At 31 March
2024
-
(1,395,000)
-
(1,343)
(37,000)
742,709
(1,343)
(1,432,000)
742,709		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
-
(59,000)
-
-
(32,000)
699,707
-
(91,000)
699,707
Transfers
Gains and
losses
At 31 March
2024
-
(1,395,000)
-
(1,343)
(37,000)
742,709
(1,343)
(1,432,000)
742,709
742,709

The overall gain/loss on defined benefit scheme of £91,000 (2024: £1,432,000) is detailed further in note 15. The gain/(loss) on the general funds relates to the transfer of £32,000 (2024: £37,000) to the defined benefit scheme in relation to employers contributions paid.

18 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
98,561
11,090
Current assets/(liabilities)
622,146
7,000
720,707
18,090
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
122,325
14,357
Current assets/(liabilities)
620,384
-
742,709
14,357		 Total
2025
£
109,651
629,146
738,797
Total
2024
£
136,682
620,384
757,066

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Financial commitments, guarantees and contingent liabilities

At the reporting end date the charity had outstanding commitments for future minimum lease payments under a verbal agreement, which totalled £Nil (2024 - £Nil).

20 Operating lease commitments

Lessee

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
In over five years		 2025
£
133,106
484,374
179,803
797,283		 2024
£
110,808
406,799
274,603
792,210

21 Related party transactions

During the year ended 31 March 2025, rent totalling £9,216 (2024: £105,323) was paid to Birnbeck Housing Association Limited (in respect of the month of April 2024), of which the trustee J Silverman was the chief executive officer until his retirement on 30th April 2024. The rent was in respect of Wortley Villa, The Old Dairy and Churchill Road properties and all transactions were completed at an arms length. Birnbeck is no longer considered a related party after 30th April 2024.

During the year, Birnbeck Housing Association Limited donated £137 (2024: £1,638) to the charity up until it ceased being a related party on the 30th April 2024.

During the year, £nil (2024: £6,325) was paid to J Bird in the form of consultancy fees.

As disclosed in the Trustees note, M Pearson was in receipt of remuneration since his appointment as Trustee of £6,972.

GLOUCESTERSHIRE GROUP HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

22 Cash (absorbed by)/generated from operations 2025 2024
£ £
Surplus for the year 72,731 84,430
Adjustments for:
Investment income recognised in statement of financial activities (23,972) (13,636)
(Gain)/loss on disposal of tangible fixed assets (1,469) 1,009
Depreciation and impairment of tangible fixed assets 34,067 36,551
Difference between pension charge and cash contributions (91,000) (70,000)
Movements in working capital:
Decrease/(increase) in debtors 4,966 (15,094)
(Decrease)/increase in creditors (4,386) 2,509
Increase/(decrease) in deferred income 5,125 (4,239)
Cash (absorbed by)/generated from operations (3,938) 21,530