.Supporting, Equipping and Empowering everyone to DO MORE and BE MORE Purplelak ,.Ir. Support ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 Reg. Charity No. 1040832 Company Registration Number 2962601 {England and Wales)
Purple•ak ir Support TABLE OF CONTENTS SECTION I - LEGAL AND ADMINSTRATIVE INFORMATION SECTION 2- TRUSTEES REPORT INCLUDING DIREcfoRS REPOR 5T FOR THE YEAR ENDING 31 MARCH 2023 The Accounts Ob ects Public Benefit and Pur ose Strurture Governance and Man ement Statement of Trustees Res onsibllFtles Alms and Achievements. Treasurers Financial Review io Audlt li SECTION 3- INDEPENDENT AUDITORS REPORTTO THE MEMBERS OF PURPLE OAK SUPPORT 12 O Inion 12 Basis for O inion 12 nclusions -12 Other Information 13 inions on Other Matter5 Prescribed the Com anies Act 2006 13 Matters on Whlch we are R uSred to Re ort b Exce tion 13 Res onslbilities of the Trustees 14 Auditor's res onsibllltles for the audit ot the financial 5taternentS 14 SEcfioN 4-THE Accoumrs 17 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YÉAR ENDED 31 MARCH 2024- 17 BALANCE SHEET AS AT 31" MARCH 2024 18 ST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 19 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 20 Accountln Pollcie5 20 1.1 Accountin Convention 20 1.2 Goin Concern 20 1.3 Incomin Re50urce5 -20 1.4 Resource5 Ex ended- -21 Purple Oak Su port- Annual Report and Financial Statements Page 2 of 31
141, Purple•ak Ir- Support 1.5 Tan ible FixedA55et5- -21 1.6 Cosh ond Cash E uivolents- -21 1.7 Em lo ee Bene -22 1.8 Retirement Bene -22 1.9 Leoses -22 1.10 FundAccounti -22 Critical Accountin Estimates and Jud ements -22 Donatlon5 and Le cle5 22 Chari activlt Income 23 Other tradln activitie5 23 Raisin Funds 23 Charltable activities 24 ort Costs 25 Taxation - -25 10. Tan Ible Flxed Assets -26 11, Debtors -26 12. Creditors amounts fallin due within one ear 27 13. Creditor5 amounts fallin due after more than one ear -27 14. Loans and overdrafts -27 15. Cash enerated from o erations -28 16. Em 28 17. Trustees- 29 18. Related Part Transaction 29 19. Retlrement Benellt Schemes 29 20. Restrirted Fund5 29 21. Desi nated Funds- 30 22. Anal sis of net assets between funds -31 Purple Oak Support- Annual Report and Financial Statements Page 3 of 31
*thiJ2 Purpleèak .Ir,, Support SECTION 1- LEGAL AND ADMINSTRATIVE INFORMATION --Truslees------ -.--- Mrs Ann Woods_-_Chair Mr David Atkins Mr Philip Woods Mr Colin Woods - Treasurer Mrs Katherine Bird Mrs Amanda Parkin Company Secretary Mr Andrew Frost Honorary Presldent Mrs Iris Andersen Ambassadorg Mrs Iris Andersen Ms Vikki Cheshire Executlve Team Mrs Lisa Rogers- Chief Executive Officer Mr Lee Roberts - Business Support Manager Mrs Amy Pegg - People Partner Mr Andrew Frost- Chief Financial Officer Ms Ami Turner - Registered Manager Children's Services Mr Derek McCarthy- Operations Manager Adults Services Charity Number 1040832 Company Number 02962601 Princlpal Address The Wellington Centre 44 Winchester Road Andover Hampshire SP10 2EG Auditor Bankers Sollcltors Hysons Audit Services Ltd 14 London Street Andover Hampshire SP10 2PA Lloyds High Street Andover Hampshire SP10 1NW Talbot Walker 16 Bridge Street Andover Hampshire SP101 BJ PLirple Oak Support - Annual Report and Financlal Statenients Page 4 0131
Purple•ak Ir-. Support SECTION 2- TRUSTEES REPORT YEAR ENDING 31ST MARCH 2024 INCLUDING DIRECTORS REPORT FOR THE The Accounts, Objects, Public Benefit and Purpose The Accounts The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, 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 Standards applicable in the UK and Republic of Ireland(FRS 102)" (effective 1 January 2019) Objects and Activities Purple Oak Support (POS) is established for the public benefit and for general charitable purposes according to the laws of England and Wales and in particular, but not exclusively, for the promotion of equality, diversity, independence, and health of people with learning disabilities and their families. Public Benefit Aims In exercising relevant powers and duties, the Board of Trustees have considered Charity Commission guidance on public benefit. This report outlines how our performance during 2023124 has benefited the public. Our Purpose POS exists to make this area a place where disabled people have the same opportunities as everyone else. We provide support, information and advice to our members and their families every year. We raise awareness of the issues that matter and with your support, we will keep driving positive change across the county. Our services include: Care and support - Delivery of care primarily to people with Learning Disabilities that include Domiciliary, Community and Supported Living. Charitable activities - Delivery of a community venue that is home to a range of social, sporting, and skills-based groups to aid people to be independent. Housing - Housing options for people with a learning disability enabling them to live independently. Campaigning - Raising awareness and advocating for people with a learning disability that need support to be heard or a voice to represent them. Children's Respite - Provision of overnight Short Breaks and Day Care for children and young people with additional needs. Purple Oak Support- Annual Report and Financial Stalemenls Page 5 of 31
J**&2 Purpleéak ,.Ir- Support Structure, Governance and Management POS is a company limited by guarantee governed by its Memorandum and Articles of Association and registered in England and Wales - number 2962601 . It is a charity, registered in accordance with the National Assistance Act 1948 and the Charities Act 1960,-Its Charlty number is 1040832. Registered office: The Wellington Centre, Winchester Road, Andover, Hampshire, SP10 2EG Trustees, Treasurer and Company S8cr8lary The Trustees, who are also the directors for the purpose of company law, and who served during the year wer8: Mrs Ann Woods - Chair Mr David Atkins Mr Martyn Bullock- VI Chalr - Deceased 21 July 2024 Mr Philip Woods Mr Colin Woods- Treasurer Mrs Katherine Bird Mrs Amanda Parkin Recrultment and Requlrements of Trustees Prospective trustees, with the necessary skills or qualifications needed by the organisation e.g, Finance, HR, Legal, Business and Social Care skills, or Ihe family/relative of an individual with learning disabilities will undertake a robust recruitment process, including the completion of a recruitment pack, a face to face interview and attending to shadow at a Board meetings. If the individual decides they would like to join the Board, the Board will lake the decision on the suitability of the candidate and will vote on whether the candidate should be co-opted onto the Board and then recommended to the members for election at the next AGM. Trustees are nominated lo serve for two-year periods (which is staggered to ensure continuity) by subscribed members including the role of Chair and should be submitted a minimum of one week prior to the AGM and if necessary, a ballot is held. None of the Trustees have any beneficial interest in Ihe company. All the Trustees are directors of the company and guarantee to Gontribute £1 in the event of a winding up. All the Trustees must be subscribed members of POS. Purple Oak Support- Annual Report and Flnanclal Statements Page 6 of 31
4 Purple•ak ,.Ir Support Statement of Trustees Responslbllltles The Trustees, who are also the directors of Purple Oak Support for the purpose of company law, are responsi-ble for preparing the Trusteés Report and the accounts In accordanc8 With applicable law and Uniled Kingdom Accounting Slandards (United Kingdom Genorally Accepted Accountlng Practlce). Company Law requires the Trustees lo prepare accounts for each financial year which give a true and fair view of the state ot 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 thes8 accounts, the Trustees are required to: 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 prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the Gharity will contlnue 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 accounts 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. In so far as the trustees are aware. there is no relevant audit information of which the charitable company's auditor are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Purple Oak Support- Annual Report and Flnanclal Statements Page 7 of 31
44 Purple•ak .~ir Support 1064 Aims and Achievements 202312024 Strateglc Aims Having sufféred a dlfficult last few months of the previous year, the focus for 2023 was to: continue to fake action to bring the financial position under control Recover our regulatory rating for Care and Support from CQC back to a 'Good' position Maintain our additional services within Children's Respite and Day service provision Build on opportunities to raise funds through other sources including events and room hire within The Wellington C8ntre Care and Support This year continued as it ended with the ongoing challenges with our staffing levels and further investment required to our leams to ensure that we were in a good position for a futu CQC inspection. We had changes lo our senior team within the department and a programme of training and supporl provided to our front line managers. New roles including a Quality Assurance post was introduced to provide an independent voice which would feed into the action plans and improvements that were required. A n8w electronic system was sourced with the view to provide efficiencies within certain functions. Due to the continued turnover or stafl, the benefits of this will not be seen until the 2024125 year. Targets were not achieved within the care and support service, resulting in financial losses against the anticipated budget. No full inspection has yet laken place for this service. Chlldren's Resplte Servlce A mixed year for our Rainbow Corner service. Despite a very successful first 5 months, we didn't manage lo maintain the increase in provision for families which we were striving for. With a 3 month closure following a tragic incident, our loss ol income was further impacted with challenges in maintaining the staffing levels during a very diff icult time for all involved. The year ended however wilh a full inspection by Ofsted resulting in a 'Good' rating to see us into the 2024125 year with a solid foundation to build the team and services back up. Maintaining Financial Performance The loss that we are seeing this year is of course disappointing. We have worked closely with the local authority and fought hard for support where required and available. Our position is not unique to the sector, but we do have some power in influencing a positive turn around for the year ahead with a belter understanding of our income and cost requirements. Moving Forward In a repeat from last year, we will continue to work to provide future financial sustainability. For this, we will need to ensure that ongoing increases in general staffing costs can be reflected in contract uplifts with major commissioners and/or an associated increase to other income to subsidise it where appropriate. We will review how we can Purple Oak Support- Annual Report and Flnancial Statements Page 8 of 31
Purpleèak .ir- Support further utilise our assets to bring a positive outcome from both a financial and deliverable perspective. Our r81ationship with local authoritl8s continue to be built and strengthened Ihrough collaboration and transparent communication. Purple Oak Support- Annual Reporl and Financial Stalemenls Page 9 of 31
4J Purpleéak Ir,, Support Treasurers Flnanclal Revlew 2023124 saw a year of a number of substantial financial challenges for Purple Oak Support which resulted in a significant loss of £212,034 in cash terms excluding depreciation, £285,791 including depreciation. This year's figures compare with the significant surpluses which the organisatloh has generated over the last years: 2019120 £81,722 surplus before depreciation {£6,405 after depreciation) 2020121 £182,333 surplus before depreciation (£111,028 after depreciation) 2021122 - £155,571 surplus before depreciation (£83,235 after depreciation) 2022/23 - £75,566 surplus before depreciation (£3,608 after depreciation) The issues that caused the financial difficulties resulted principally from Rainbow Corner (our children's respite care cenlre) and our Hampshire County Council contracts for Adult Care Support Services. In addition, the cost-of-living crisis affected our ability to fundraise. Following the sad dealh of a young person at Ralnbow Corner, Ofsted suspended our registration which meant that no children were able to attend there for over 3 months. This is In line with their standard procedure to allow a thorough investigation to be carried out. Even though, as a result of the investigation, no fault was attributed to Purple Oak Support, that closure resulted in a loss of income in the region of £100,000. The issues with the Hampshire County Council adult services contracls resulted from a number of factors - big increases in the National Minimum Wage not matched by Increases in fee rates from Hampshire, continuing pressure on staff recruitment resulting in greater use of Agency Staff than anticipated. We will continue to face similar significant challenges in 2024125 including a big increase in the National Minimum Wage. We are in the process of reviewing all aspects of our delivery to try and ensure increased efficiency and have negoliated robustly with Hampshire on fee rates. To date this year there has been an improvement in financial perfonnance with performance to date in line with a break-even budget before depreciation. Purple Oak Support- Annual Report and Flnanclal Statements Page 10 ot 31
¥144 Purple•ak .,Ir,, Support Audit The Auditor Each of the directors has confirmed that there is no Information of which they are aware which is relevant to the audit, but of which the auditor is unaware.They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Trustee's Report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006, The Trustee's Report was approved by the Board of Trustees. Signed............................ Mrs Ann Woods Chair Purple Oak Support- Annual Report and Financlal Staiements Page 11 of 31
*J• Purple•ak Ir. Support SECTION 3- INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF PURPLE OAK SUPPORT Opinion We have audited the accounts of Purple Oak Support (the 'Charity') 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 accounts, including a summary of 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 accounts give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted 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 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 accounts section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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 suff icient 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. Purple Oak Support- Annual Report and Financial Statements Page 12 of 31
l* Purplelak ir Support Olher Informatlon The trustees are resp_onsible for the other information. The other informatio)n comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalements, 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 lact. We have nothing to report in this regard. Opinions on Other Matters Prescrlbed by Ihe Companies Acl 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in th8 Trustees Report for the financial year for which the accounts are prepared is consistent with the accounts. and the Trustee's Report has been prepared in accordance with applicable legal requirements. Matters on Which we are Requlred 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 Trustees Report. We have nothing to report In respect of the following malters where Ihe Companies Act 2006 requires us to report lo you. in our opinion. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the accounts are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Purple Oak Support- Annual Report and Flnancial Statements Page 13 0131
,,ir~ Support Responslblllties ol the Trustees responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the accounts, 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 company or to cease operalions, or have no realistic alternative bul to do so. Audltor's Responslbilities for the Audit of the Financial Slatements Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstalemenl, whether due to Iraud 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. Misslatements 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 accounts. 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 misslatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance wilh applicable laws and regulations. we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the charity sector. we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, Charities Act 2011 , Gharities SORP (FRS 102) and Financial Reporting Standard 102. Purplè Oak Support- Annual Repori and Flnanclal Statemenls Page 14 of 31
Purplelak ,,ir Support we assessed the extent of compliance with the laws and regulations identified above through making enquiries of rnanagement and inspecting legal -correspondence. and_ identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial statements to material misstatement, Including obtaining an underslanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we. performed analytical procedures to idenlify any unusual or unexpected relationships. tested journal entries to identify unusual transactions. assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to., agreeing financial statement disclosures to underlying supporting documentation., reading Ihe minutes of meetings of those charged with governance. enquiring of management as to actual and potential litigation and claims. and reviewing correspondence with HMRC, relevant regulators and the charity's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit Ihe audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Purple Oak Support- Annual Report and Flnanelal Statements Page 15of 31
Purple•ak Ir.. Support Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at: httpJlwww.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 and regulations made under that Act. 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 auditors, 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 its members as a body, for our audit work, for this report, or for the opinions we have formed. Signed........................... Mr Chrislopher Joyce FCCA (Senior Statutory Auditor) for and on behalf of Hysons Audit Services Ltd Chartered Accountants Statutory Auditor Purple Oak Support- Annual Report and Financial Statemenls Page 16 of 31
Purple•ak Ir.. Support SECTION 4- THE ACCOUNTS STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 Income and endowments from: Donations and Legacies Charitable activities income Other Trading Activities 24,755 3,899,170 40,967 24,755 11,769 4,318,528 4,244,032 40,967 52.182 419.358 Total Income 3,964,892 419.358 4,384,250 4,307,983 enditure on: Raising funds Cha ritable activities 48.653 4.302,594 48,653 1,986 4,621,389 4.302,389 318,795 Total Resources Expended 4,351,247 318,795 4,670,042 4,304,375 Net Movement in Funds (386,355) 100.563 (285,792) 3,608 Transfer between funds (285,895) 285.895 Fund Balances l April 2023 859,242 1.697.471 6.161 2,562,874 2,559,266 Fund Balance 31 March 2024 186.992 2,083.929 6.161 2,277,082 2,562,874 The statement of f inancial activities includes all gains and losses recognised in the year. All income and expend iture derive from continuing activities. The statement of financial activities also complies with the requrirements for an income and expenditure account under the Companies Act 2006 Purple Oak Support- Annual Report and Financial Statement5 Page 17 of 31
41 Purple•ak -ir-. Support BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed Assets Tangible Assets Current assets Debtors Cash at bank and in hand 10 2,457,620 2,524,951 11 512,814 65,414 578,228 515,659 160,045 675,704 Creditors: Amounts falling due within one year Net Current Liabilities Total Assets less Current Liabilities Creditors: amounts falling due after more than one year Net Assets 12 (496,109) 1362,001) 82,119 2,539,739 313,703 2,838,654 13 (262,657) 2,277,082 {275,780) 2,562,874 Income Funds Restricred Funds Designated Funds General unrestricted funds 20 21 6,161 6,161 2,083,929 186,992 1,697,471 859,242 2,270,921 2,556,713 2,562,874 2,277,082 The accounts were approved by the Trustees on Mrs Ann Woods- Chair Trustee Company Registration No. 02962601 Purple Oak Support- Annual Report and Financial Statements Page 18of31
Purple•ak ..ir- Support STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Notes Cash Flows from operating activities Cash absorbed by operations (75,675) {46,011) Investing activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Net cash generated from investing activities (6,419) (4,829) (6,419) (4,829) Financing artivities Repayment of bank loans 12,536) (11,761) Net cash used in financing activities Net increase/ (decrease) in cash and cash equivalents Cash and cash equivalents atthe beginning of the year Cash and cash equivalents at the end of year (12,536) (11,761) (94,630} (62,601) 160,045 222, 646 65,415 160,045 Relatingto: Bank balances and short term deposits Bank Balance / (overdraft) 65,415 160,045 Purple Oak Support- Annual Report and Financial Statements Page 19of31
Purple•ak -Ir. Support NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Accounting Policles Charity Information Purple Oak Support is a company limited by guarantee governed by its Memorandum and Articles of Association and registered in England and Wales - number 2962601. It is a charity registered in accordance with the National Assistance Act 1948 and the Charities Act 1960. Its Gharity number is 1040832. Accounting Convention The accounts have been prepared in accordance with the Charity's governing document, the Companies Act 2006, the Charities SORP (FRS 102) '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). and Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The Charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts 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 accounts, 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 accounts. 1.3 Incoming Resources 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 assel. Purple Oak Support- Annual Report and Financial Statements Page 20 of 31
•1& Purplelak ,Ir., Support Income resources from charitable actlvities are measured at the fair value of the consideration received or receivable and represent amounts receivable for goods and senJiGes provided in the normal courss of business, net of discounts, VAT and other sales related taxes. 1.4 Resources Expended Expenditure is recognised on an accrual basis as a liability is incurred. It includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of fundraising. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs ol an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and the costs linked to the strategic management of the charity. All costs a allocated between Ihe 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 between activities in line with their respective direct staff costs. 1.5 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. Tangible fixed assels ar8 statad at cost less depreciation. The costs af minor additions or those costing below £150 are not capitalised. Depreciation is provlded at rates calculated to write off the cost less estimated residual value of each asset OV8r its expected useful life, as follows.. Freehold land and buildings (includinq prooramme related Fixtures, fittings, and equipment 2°/, Straight line 201. Straight line The gain or loss arising on the disposal ol an asset is detemiined as the difference between the sale proceeds and the carrying value of thg asset and is recognised In net income/(expenditure) for the year. 1.6 Cash and Cash Equivalents Cash and cash equivalents Include cash in hand, deposits held at ca51 wlth banks, other short-term Ilquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabi lities. Purple Oak Support- Annual Report and Flriancial Statements Page 210131
Purple•ak -ir., Support 1.7 Employee Benefits 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. 1.8 Retirement Benefits The charity operates a defined contributions pension scheme, the assets of the scheme being held separately from the assets of the company. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme. 1.9 Leases Rentals payable under operating leases, including any lease incentives received. are charged to income on a straight-line basis over the term of the relevant lease. 1.10 Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Board of Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. Crilical 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. Donations and Legacies 2024 2023 Donations and Gifts 24,755 11,769 Purple Oak Support- Annual Report and Financial Statements Page 22 of 31
.~Ir-. Support 4 Charltable activrty income Adult and chlldrens 5erylce5 Cllent propÈrtlÈs Actlvltle5 and clubs Total Total 2023 2024 Sales wlthln tha ritsble actlvltles 3,724,673 174,497 419,358 4,318,528 4,244,032 Analysls by fund Unre5triGted f unds Deslgnated funds 3,724,673 174,497 3,899,170 419,358 4,318,528 419,358 419,358 3,724,673 174,497 Forthe year ended 31 March 2023 Unrestricted funds Designated f unds 3,708A54 156,019 371,922 7,637 379,559 4.236,395 7,637 4,244,032 3.708AS4 156,019 Unrestricted funds Unre5trirted fund5 5 Other tradlng act[tte5 2024 2023 Net gain on dlsposal of tangible fixed assets other income Wellington Centre hire 40,967 40,967 52,182 52,182 6 Raising Funds 2024 2023 Fun d P blici Staging fundraislng events ra 48.653 48,653 1,986 1,986 Purple Oak Support- Aiinual Report and Financlal Ststements Page 23 of 31
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Purple•ak Ir.. Support 8 Support costs Support costs Governance costs 2024 2023 Am inistration expenses Legal and professional fees External Services (IT, H&S and HR) Bank Charges Bank Interest Insurance Regulatory fees Other Costs Audit fees 25,011 25.011 29,245 383 65,827 1,709 15,609 18,619 35 97,469 11,391) 14,349 23,882 3,165 (4,449) 97.469 (1,391) 14,349 23.882 3,165 (4.4491 4,560 162,596 5,231 4,710 141,368 4,560 4,560 158,036 9 Taxation The charitable company is exempt from corporation tax as all its income is charitable and applied for charitable purposes. Purple Oak Support- Annual Report and Financial Slatement5 Page 25 of 31
-Ir- Support 10 Tangible Fixed Asset5 Fyeehold Land and Fixture5, fittings Buildings {Includlni and equipment programme related In¥estments} Total Cost At l April 2023 Additions E)isposals At 31 March 2024 3,329,186 230,616 6,419 3,559,802 6,419 3,329,186 237,035 3,566,221 Depreclation and impalrment At l April 2023 Depreciation in the year Disposals At 31 March 2024 828,325 66,574 206,526 7,176 1,034,851 73,750 894,899 213,702 1,108,601 Carrying Amount At 31 March 2024 2,434,287 23,333 2,457,620 At 31 March 2023 2,500,861 24,090 2,524,951 11 Debtor5 2024 2023 Amounts falling due wlthln one year: Trade Debtors Other Debtors Prepayments and accrued income 231,465 217,872 281,349 512,814 297,787 515,659 Purple Oak Support- Annual R&port and Flnanclal Statements Page 26 ot 31
Purple ,-Ir- Support ak 12 Credltors amounts falling due within one year 2024 2023 Notes 14 Bank Loan5 and overdrafts Othertaxation and social security Trade creditors Othercreditors Accruals and deferred income 13,175 87,596 84,512 160, 893 149,933 496, 109 12,588 74,344 57,828 124,738 92,503 362,001 13 Credltors amounts falling due after more than one year 2024 2023 Notes Bank Loans 262, 657 275,780 14 Loans and overdrafts 2024 2023 Bank overdrafts Bank Loans 275,832 275,832 288,368 288,368 Payable within one year Payable after one year 13,175 262,657 12,588 275,780 Due after5years 202,409 234, 107 The long term loans are secured over by fixed charges over the assets of the company The loan drawn down in July 2013 has a fixed interest rate of 4.73D/o and is repayale by monthly instalments until July 2038 Purple Oak Support - Aiinual Roport and Flnancial Slatements Page 27 of 31
Purple•ak -ir-. Support 15 Cash generated from operations 2024 2023 Surplus/{deficit} for the year (285,791) 3,608 Adjustments for: Gain on disposal of tangible fixed assets Depreciation and impairment of tangilkil&i fixs(' _Js'?P.t- 73,757 71,958 Movements in working capital: Decrease/ {increase) in debtors (Decrease) / increase in creditors 2,845 133,514 {247,217) 125,640 Cash absorbed by operations (75,6751 146,0111 16 Employees Number of employees 2024 Number 28 2023 Number 28 136 Management and administration Contracted services Client properties Activities and clubs 132 163 167 Employment Costs 2024 2023 Wages and salaries Social security Costs Other pension costs 3,087,821 243,057 98,021 3,428,899 3,112,805 246,703 96,782 3,456,290 Purple Oak Support- Annual Report and Financial Statements Page 28 of 31
Purplelak 17. Trustees. -.. None of the Trustees (or any persons connected with them) received any remuneration during the year, also no travelling expenses were claimed. 18. Related Party Transactlons Transactions with related parties During the year, the charity entered into the following transactions with related parties: During the year Purple Oak Support invoiced service users who were children of the charity's trustees a total of £75,539 (2023: £75,201) for care services, of which £7,308 (2023.. £4,823) was outstanding at the balance sheet date. 19. Retlrement Benefit Schemes Defined Contributions Schemes The Charity operates a defined contribution pension schern@ for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The charge to profit and loss in respect of defined conlribution schemes was £98,021 {2023: £96,782>. 20. Restricted Funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: Movement in fund5 Balance at I April 2023 Incoming resources Resources expended Balance at 31 March 2024 Trustees sm311 grants Garden furniture fund 5,061 I, 100 6, 161 5,061 1,100 6,161 Trustees Small Grants Fund - Fund to help members and their families requiring emergency funding. Garden Furniture Fund -Funds raised lo pravide furniture in the outdoor area at The Wellington Centre. Purple Oak Support- Annual Report and Financlal Statements Page 29 0131
Purpleqak -Ir.. Support 21. Designated Funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: Movement in funds Transfer Balance at I April 2023 Between Incoming resources Resources expended Balance at 31 March 2024 fund5 Bequests Club funds Property fund Capital fund 49,440 3.406 7.132 {2.928) {25,210) (37,864) 1252,7931 1318,7951 49,918 4,752 1,612,687 416,572 2,083,929 22,830 1.650,551 24,090 1,697,471 236,455 285,895 408,820 419,358 Club Funds- Funds held for specific clubs run by Purple Oak Support Property Fund- This represents the book value of the Wellington centre land and buildings after the deduction of the bank loan. Capital Fund- This represents the depreciated value of fixtures and fittings, and equipment at the year end and the net contribution from activities. Bequest- This represents bequests left to the company and has been separated out for the first time in 202314. The opening balance was previously reported under unallocated funds. Purple Oak Support- Annual Report and Financial Statements Page 30 of 31
Purple•ak Ir Support 22. Analysis of Net Assets Between Funds Unrestricted funds Designated funds Restrirted funds Total Fund balances at 31 March 2024 are represented by- Tangible assets Cu rrent a ssets / I liabilities) Long term liabilities 545,779 (358,787) 1,911,841 434,744 (262,656) 2,083,929 2,457,620 82,118 {262,656) 2,277,082 6,161 186,992 6,161 Purple Oak Support- Annual Report and Financial Statements Page 31 of 31