Company registration number: 02970299 Charity registration number: 1042250 BURYILD (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS 31 MARCH 2024 Horsfield & Smith Accountants & statutory auditor Tower House 269 Walmersley Road Bury Lancashi BL9 6NX
BURYILD CONTENTS Reference and Administrative Details Strategic Report 2to5 Trustees, Report 6t09 Statement of Trustees. Responsibilities io Independent Auditors, Report Ilto14 Statement of Financial Activities 15to16 Balance Sheet 17 Staternent of Cash Flows 18 Notes to the Financial Statements 19to33
BURYILD REFERENCE AND ADMINISTRATIVE DEfAILS Trustees H Broadbent, Chair P Saxton, Vice-chair S L Sykes A M Flemin8 l Lambert E Sidley A L Southern Cjones Senior Management Team M Piper-cotterill, CEO Registered Office Unlt 17 Bury Business Centre Kay Street Bury BL9 6BU The charity is incorporated in England and Wales. Company Registratlon Number 02970299 Charity Registration Number 1042250 Bankers Santander Bootle Merseyside England L30 4GB Audltor Horsfield & Smith Accountants & statutory auditor Tower House 269 Walmersley Road Bury Lancashire BL9 6NX
BURYILD STRATEGIC REPORT YEAR ENDED 31 MARCH 2024 The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2024. in Cornplian with $414C of the Companies Act 2006. Achievements and performance This year marks the 30th anniversary of BurylLD. What started as an idea by a group of families 30 years ago to find Independen for their sons or daughters is now a very well established and respected organisation. Their hope was to find safe homes that would provide that independence but also provide access to high quality care and support services as well. That is now a solid reality, BurylLD delivered that dream and continues today to provide support to more than 20 people in their homes todayi four of those properties are now owned by BurylLD and managed by our housing partners. Golden Lane Housing Association and Empower Housing. As always, our ability to provide quality services to our supported people is completely dependent upon our workforce and as like in many years prior the core of our workforce has again remained loyal to us, dedicated to going that extra mile to ensure our sUPPOrted people achieve their best lives. Bury Council have continued to fund us as a Real Living Wage employer and we continue to pay above the Real Living Wage and in strong competition with our local counterparts. ManaginE and navigating the changes to the Local Authority invoice portal has been challenging. This has put significant pressure on our administration and led to concerns about cashflow, however as we have retained surplus and invested well throughout the last 12 months, we have been more than able to weather this storm. Bury Council are aware of the challenges this presents and have committed to work with BurylLD and other providers in remedying the sttuation. We remain confident that our accounts are robust and can demonstrate our approach to generating surpluses for the future financial health of the charity as well as planning for future projects and maintenance. BurylLD has navigated two difficult situations with our supported people this last year. Both cases involved the executive committee of BurylLD, committing much time and skill in resolvlng these matters and providing a safe platfomi for the future by learning from these experlences and adapting our approaches as a direct result. On the property side, we have managed a significant roof problem at our Pitt St home which has led to a new roof being installed which was not budgeted for yet much needed. This caused disruption for the three tenants throughout the winter months, increasing fuel costs when the price of living cost is high. With a new roof on this home, we have seen a marked improvement in the efficiency of the building and the tenants are reassured of lower bills and no more leaks. Our other property at Grayson Avenue has now completed all required refurbishment receiving a new bathroom and shower room as well as planned essential maintenance throughout. The tenants We required to decant from the property for 4 days and Golden Lane Housing exceeded our expettations in this short turnaround and the works were completed seamle551y.
BURYILD STRATEGIC REPORT YEAR ENDED 31 MARCH 2024 We have retained full capacty in our homes, as we have been able to transition people into different homes as appropriate. Unfortunately, due to the unplanned expense of a new roof, our plan to develop a new "forever home" had to be abandoned on finanoal grounds. We welcomed our website this year and it is now fully operational on the internet. A lot of time and expertise went into the build and design of this, as we were conscious it required accessibility for everyone to use and navigate. With this now operational we are able to add events and share our news externally, and as a consequence we have gained new followers. We have shared this at our Family Forum and attracted new families as a result. Financlal review Poliry on reserves It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity. Such reserrfes are to provide sufficient funds to protert its current activities, to ensure that it continues to operate on a sound basis and allo it to react to any changes in fundin8 in an appropriate manner. The Board has set the lon8-temi target of maintaining a reserves fvnd which repre5ent5 a sum equal to the sum of (l) the amount of outstanding liabilities under the rental of our premises and other contracts and (21 at least six months of annual operating costs. Historically our total reserves had cornpletety covered these objectives and even our liquid assets covered both objectives. Since 1st September 2020 it was agreed to amend item 2) to be that we would hold at least 3 of the 6 morbths in liquid reserves so that excess cash above this could be used to invest in even more rneanin8ful assets in tern)s of improving the lives of the people we sUPPOrt. The 3 months liquid reserves should be to cover 13 weeks of expenditure in the following Financial Year. These reserves will enable BurylLD to deal with the following contingencies: solvlng problems wfch cash flow: staff shortages such as those due to sickness; reductions in or withdrawal of funding; sudden major service changes. The Trustees decided not only to hold the sums in excess of those recommended by the Charity Commission, but to also include the listed 'contingencies' in the Risk Re8iSter against whlch steps to mitigate have been agreed. In addition. where circumstances allow. additional reserves will be built to enable future investments in activities that help to secure the long-temi future of the charity by acquiring another home. Reserves beyond the 13 week amount rnay be used to pare down our mortgage. This will be determined on a quarterly review and take into account our income from leases on our owned homes. Reserves will also enable us to develop additional services that respond to the person-centred demands of the people - and potential people- we support.
BURYILD STRATEGIC REPORT YEAR ENDED 31 MARCH 2024 The reserves at the end of the year comprised £1.202.147of unrestricted funds ar>d £1,492 of restrirted funds. Of the unrestricted funds carried forward, £232,506 is identif1 as liquid reserves, plus fixed asset5 of £969,641, to meet the objectives. The liquid reserves are currently equivalent to eight weeks of 2023-24 operating costs. Principolfvnding sources The principle funding sources for BurylLD support services are from contracts for each Supported Individual with Bury Council. For the Contact servtces, funding is obtained from members, fees, grants. individual budgets and Income from our assets. This covers sessional worker and volunteer expenses and other running costs. It should be noted that members pay the full cost of all activities they attend, and volunteers submit claims for expenses. Investmentpoliry and objertives Under the Articles of Association. the charity has the power to invest in any way the trustees wish. The trustees. having regard to the liquidity requirements of the charity and to the reserves policy, have operated a policy of keeping available funds in several interest-bearing deposit accounts attratting competitive rates of interest but at minimum risk to those funds and staying within Government guaranteed limits for saving. Investments are also spread across different withdrawal terms. Plans for future periods As always, the key to the fvture financial health of the organisation in the continuing tightness of Council funds is to increase the number of service recipients and/or hours served for current recipients without detracting from the quality of support that is our unique philosophy or adding significantly to our management ovethead. We do not seek to Erow for the sake of it, but only to serve others who wish to benefrt from our distinct support methods and to protect current service users by ensuring our support framework has long-term stability as inflation and new ideas and requirements drive up costs. New ser4ices give us a small addition to overhead contribution which helps us to protect these important ideals. Most importantty the key ambition is always to maintain sufficient seNlces so that we can afford the management stfuctures that give everyone the best possible outcomes. We shall continue to consider applylng for external charitable funds for specific projects/training where we want to enhance the service we gNe.
BURYILD STRATEGIC REPORT YEAR ENDED 31 MARCH 2024 The strategic report was approved by the trustees of the charity on ... behalf by". and signed on its hLiaG H Broa Trust nt
BURYILD TRUSTEES, REPORT The trustee5, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors. report of the charitable company for the year ended 31 March 2024. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Twstees: H Broadbent, Chair P Saxton, Vice-chair S L Sykes (appointed l April 20231 A M Fleming l Lambert (appointed 31 October 2023} E Sidley (appointed 31 October 2023 A L Southern (appointed 25 July 2024) Cjones (appointed 25 July 2024) D W Fidler. Vic&Chair (resigned 22 November 2023) K Worrall (resigned 31 Juty 2023) M Considine (resigned 15 April 2023) Objectives and activities Objects ond oims BurylLD is a family-focused, not-for-profrt organisation. which aims to provide 5UPPOrted living for people with leaming disabilities in the Metropolitan Borough of Bury and its environs. It was set up by a steering group of parents in March 1994, and was incorporated as a company limrted by guarantee on 12 September 1994. with attive support from the local authority. The formal objective of BurylLD includes the arrangement and provision of care, education, recreation. employment and other useful activities for the benefrt of people with learning disabilities, in the Metropolitan Borough of Bury and its environs. In January 2013, the charlty formerly known as Contact Community Care, based in Bury, merged with BurylLD. Thus the charity now also encompasses, through its Contact Leisure Division (CLDI, the provision of leisure activities on a fortnighly basis to a wider group of adults with leaminE dffficulties which can include people supported in their homes by BurylLD. The mer8er enabled BurylLD to meet an ambition to develop leisure services as the people we SUPPOrt had re8ularly put the provision of extra leisure opportunities at the top of their list of how we could further add to their lives. It also enables families and membets of Contact leisure to understand the benefrts of moving into independent supported livin& at some stage. should they wish, as it can help familie5 as an informal advocate through experience for independent living - by any agency - to understand the process within the Borough fortheir family member, possibly being able to live independently.
BURYILD TRUSTEES, REPORT BuryliD is commited to the development and maintenance of high-quality support to adults with learning disabilities, which will enable them to live independentty and enjoy fulfilled lives of their choosin8. BurylLD supports people regardless of their degree of learning disability. It develops several patterns of support according to the wishes, Strengths and needs of each individual. These individuals mainly live as tenants in their own houses, either on their own or shared with others. Some people may also be supported whi15t living in the family home, prior to moving on to be a tenant in their own accommodation. BurylLD encourages family members to remain regularly involved in the lives of their son/daughter or relative and be part of ongoiwd SUPPOrt planning alongside paid staff. In addition to families, people with an interest in helping the charity achleve its objectives can become members of the organisation. The Trustees believe that the implementation of the above satisfies the Charity Commission's general guidance on Public Benefit. Publk benefft The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefrt guidance published by the Charity Commission for En8land and Wales. Strurture. governance and management Nature of qoverning document BurylLD is a charitable company, registered in England and Wales, governed by its trust deed and by its memorandum and articles of association. Day-to day decisions are taken by the CEO and Administrative and Service Managers. More significant policy and strategic decisions are taken by Trustees in liaison with the CEO. Though ultimately governed by the Board of Trustees, supported indNiduals. their families and staff continue to be involved in the running of the charity through participation in the supported persons group, family forum and staff forums. Issues ralsed in the groups are notifted to the trustees. In addition, family members are included in all of the sub<ommittees. The organisation ts owned by its members, the Trustees oversee the management of the company on behalf of its members. Our charity is subject to external inspection from the Care Quality Commission {CQC) and Bury Council Quality Assurance department. The most recent report from CQC inspertion found BurylLD to be GOOD in all five inspection domains. Whilst Bury Council does not use a rating system, the most recent inspection included positwe cornments regarding the organisation.
BURYILD TRUSTEES, REPORT Recruitment and appointment of trustees Trustees are appointed following a robust recruitment policy. This includes initial interview5, observing two Executive (Board) meetings, obtaining two independent references, then after agreement elected to the Board and ratified at AGM and an enhanced DBS check. BurylLD artively Seeks trustees who can offer specffic and valuable skills to our charity, to enhance our ability to govern well and drive forward the objectives of BurylLD. The Board regularly updates, with the trustee administrator, a Trustee Skills Matrix, to highlight any Eaps in expertise. Future recruitment of trustees then seeks to cover those gaps as a priority. The most recent analysis showed that our Board has at least one trustee scoring highly in every parameter of the matri& which show5 a Board with a broad range of relevant skills and experience. Induction and training of trustees There is an induction process for new trustees. The induction includes meetings with some of the people that we support, managers and the Chair to give background on how we operate as well as our organisation's history, principles and ethos. All of our trustees give their time and expertise voluntariky and we are fortunate to have on the Board people from the fields of Business, HR. Accountancy. Housin& Law. a famity Liaison, and health and disability care professional. The latter two providing valuable insights into wider disability issues, in addition to those directly affecting BurylLD. As a result. we are constantly looking for opportunities to appoint new Famity Members/Friend5 to the Board. Decislon makin8 The CEO creates an Annual Strategy. that provides challenging objectives to ensure that BurylLD continues to improve and develop, which is then agreed with the trustees. This plan is broadfy across lal Support15ervice/Governance/Quality' and Ib) Commercial/OrganisationaVManagemenVCommunity. The Trustees are also responsible for agreeing the budget for the forthcorning year once it has been drafted by the CEO and Financial Manager with input from the Treasurer. The Budget and finances are reviewed 4 times a year between the Finance & Housing Su0mmIttee. The Treasurer presents a quarterty Finance Report to the Board. There are at least eight Board Meetings each year. SuCommIttee$ are formed to focus on specific issues identified by the Trustees or CEO. Durin8 the reported year 2 sU0MMIttee$ operated. all of them include representation from management and the trustees. The suCoMMitteeS are chaired formally by a Trustee and then Information Is fed back at Board Meetings. They are formed to rnaximise the potential knowledge across the whole organisation and to ease the workload on some Officers. The following sub-committees were in existence during this year- l. Quality and Governance Sub-committee (including Contact) to keep appraised of CQC, Charity Commission and Council/Govemment issues and rnonitor safeguarding, audits and other trends in best practice. 2. Finance and Housing Sub-committee - review financial performance and strategy and monitor our housing stock. both owned by us and leased by tenants from housing associations including those we have management agreements with.
BURYILD TRUSTEES, REPORT Major risks ond monogemert of those risks The identification of risk is the responsibility of everyone at BurylLD. The Trustees have condurted a review of the major and potentialty catastrophic risks to which the charity may be exposed, having regard to the 5-section Charity Commission guidance. A risk register has been established. There 15 a program of review by Trustees and the CEO, section by section, throughout the year. Where appropriate, systems or procedu$ have been established to mitigate any risks that the charity may face. Financial instruments Objertlves andpollcles The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. Cashfvw rlsk The charit(s activities expose it primarily to the financial risks of changes in interest rates. Interest bearing assets are held to ensure certainty of cash flows. Credlt risk The charit5 principal financial assets are bank balances. trade and other receivables. and investments. The chariws credit risk is primarity attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which. based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no signrficant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In orderto maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charty uses a mixture of short-tem? investments and deposits which are reviewed on a regular basis. Disclosure of Inforniation to audltor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant infomiation that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on . and signed on it5 HBro Trustee nt
BURYILD STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees {who are a150 the directors of BurylLD for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdorn Accounting Standards {United Kingdom Generally Accepted Accounting Practice). including FRS 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and apply them consistently, observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent: state whether appllcable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the goin8 concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements compty with the Companies Act 2(K)6. They are also responsible for safeguarding the asset5 of the charitable company 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustee5 of the charity o j.r . and signed on its behalf by: HBro Trustee io
BURYILD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BURYILD Opinion We have audited the financial statements of BurylLD (the 'charity') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flow5, and Notes to the Financial Statements, including a summary of snifIcant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (Vnited Kingdom Generally Accepted Accounting Practice). In our opinion the financlal statements: gwe a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the yearthen ended: have been property prepared in accordan with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requlrements 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 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 FRCS 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 concem In auditing the fjnancial statements. we have concluded that the twstees use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collertively, may cast Sl8nificant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sertions of this report. Other inforniation The trustees are responsible for the other information. The other information comprises the information included bn the annual report. other than the financial statements and our auditorfs report 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 fomi of assurance conclusion thereon. li
BURYILD INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF BURYILD 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 misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomiation, we are required to report that fatt. We have nothing to report in this regard. Opinion on other matter prexribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Strategic Report and Trustees, Report for the financial year for which the financial statements are prepared is consistent with the fbnancial statements: and the Strategic Report and Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you rf. 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 financial statements a not in agreement with the accountin8 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. Responslblllties of trustees As explained more fvlly in the Statement of Trustees, Responsibilities (set out on page 10), the trustees 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 responslble for assessing the charity's ability to continue as a going concern. disclosi as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. 12
BURYILD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BURYILD Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs 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 rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, Including fraud, are instances of non-complian with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detert material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The extent to whlch the audit was consldered capable of detectlng Irregularftles Including fraud Our approach to identifyin8 and assessing the risks of material misstatement in respect of Irregularities, including fraud and non<ompliance with laws and re8ulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-complian with applicable laws and re8ulations 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: and we assessed the extent of Complian with laws and regulations through making enquiries of Management. To address the risk of fraud through management bias and oveThide of controls, we: performed anatytical procedures to identify any unusual or unexpetted relationships; tested journal entries to identify unusual transactions: 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 the minutes of meetings of those charged with governan. and enquiring of management as to actual and potential litigation and clalms. 13
BURYILD INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF BURYILD 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 the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence. if any. 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 financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibllities. This description forms part of our auditor's report. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-complian with laws and regulations, was as follows: We assessed the susceptibillty of the charity's financial statements to material misstatement, Including obtaining and understanding of how fraud may occur, by: making enquiries of management as to Whe they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud- and considered the internal controts in place to mitigate risks of fraud and non-compliance with laws and regulations. Use of our report This report is made solely to the charitable company trustees in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditorfs 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 trustees as a b¢xly, for our audit worl for this report, or for the opinions we have forn)ed. Co. PG Nicol FCA (Senior Statutory Auditor} For and on behalf of Horsfield & Smith, Statutory Auditor Tower House 269 Walmersley Road Bury Lancashire BL9 6NX Dat 14
BURYILD STATEMENT OF FINANCIALAcfiviTIES YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDITURE AccouNr AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unrestricted funds Re5trirted funds Total 2024 Note Income and Endowments from: Donations and legacies Investment income Other income 1,540,321 3,816 68,378 1,540,321 3,816 68,378 Total income 1,612,515 1,612,515 Expenditure on: Charitable activities (1.426,450) (1,426,450) Total expenditure (1,426,4501 (1,426,450) Net income 186,065 186,065 Net movement in funds 186,065 186,065 Reconciliation of fuftds Total funds brought forward 1,016,082 1.492 1,017,574 Total funds carried forward 20 1,202.147 1,492 1,203,639 15
BURYILD STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from= Donations and legacies Investment income 1,227.986 3.519 35,296 1,227,986 3,519 35,296 Other income Total income 1,266,801 1,266,801 Expenditure on: Charitable activities 11.171,281) 11,171,281) Total expenditure (1,171,281) 11,171,281) Net Income 95,520 95,520 Net movement in funds 95,520 95,520 Reconciliation of funds Total funds brought forward 920,562 1,492 922,054 Total funds carried forward 20 1,016,082 1.492 1,017,574 All of the charity's activitie5 derive from continuing operations durtng the above two periods. The funds breakdown for 2023 is shown in note 20. 16
BURYILD BALANCE SHEET AS AT 31 MARCH 2024 (REGISTRATION NUMBER: 02970299) 2024 2023 Note Fixed assets Tangible assets 969,641 970,405 Current assets Debtors 14 309,256 231,404 233,850 199,8(Ki Cash at bank and in hand 15 540.660 433,650 Creditors: Amounts falling due withln one year 16 (43,2671 138,189) Net current assets 497,393 395,461 Totsl a$$ets less current Ilabllltles 1,467.034 1,365,866 Creditors: Amounts falling due after more than one year 17 (263,395) {348,2921 Net assets 1,203,639 1,017,574 Funds of the charity: Restricted income funds Restricted funds 1.492 1,492 Unrestricted income funds Unrestricted funds 1,202,147 1,016,082 Totsl funds 20 1,203,639 1,017,574 The fin on 'al statements on pa8e$ 15 to 33 were approved by the trustees. and authorised for issue ir. and signe on their behalf bv: HBr Trustee nt 17
BURYILD STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024 2024 2023 Note Cash flo from operating activities Net cash income 186,065 95,520 Adjustments to cash flows from nonvcash items Depreciation Investment incorne 764 13,816) 764 13,519) 183,013 92,765 Working capltal adjustments Increase in debtors Increase/ldecrease) in creditors 14 (75,406) 5.142 (130,506) 11,246) 16 Net cash flows from operating activities 112,749 (38,987) Cash flows from investin8 activities Interest receivable and similar income 3.816 3,519 (460,201) Purchase of tan8ible fixed assets 13 Net cash flows from investing artivities 3.816 (456,682) Cash flows from financing activities Repayment of loans and borrowings 16 184,961) 316,646 Net increase/(decrease) in cash and cash equivalents 31,604 (179,023) Cash and cash equivalents at l April 199,800 378,823 Cash and cash equivalents at 31 March 231,404 199,800 All of the cash flows are derived from continuing operations during the above two periods. 18
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I Charity status The charity is limited by guarantee. incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The addre55 of its registered offKe is". Unit 17 Bury Business Centre Kay Street Bury BL9 6BU Authorised for issue date 2 Accountln8 pollcies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordan with Accountlng 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 IFRS 102)) {issued in Ortober 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation BurylLD Meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties al)out the charity's ability to continue as a going concern nor any significant areas of uncertainty that affett the carrying value of assets held bythe charity. Winding up or dissolution of the charlty If upon winding up or dissolution of the charity there remain any assets. after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity. 19
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Judgements and key source5 of estimation uncertainty The preparation of the financial statements requires rnanagement to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Income and endowments Incoming resources a accounted for on a CeiVable basis. Restricted grants are allocated to the appropriate funds. Investment and rental income Bank interest received is included on an actual receipts basis. except for deposit accounts on whlch interest is paid annually, in which case income ts accrued. Cash held in deposit accounts is included within 'cash at bank and in hand,. The rental income is received from the oanIsation which manage the three properties which are owned by BurylLD and provide housing for supported Individuals. This is due on a monthly basis and accounted for when ceivable. Expenditure Liabilities are recognised on the accruals basis in accordance with nomial accounting principles, modified where necessary in accordance with the guidance given in the SORP. The policy for including items within the relevant activity categories of expenditure is at the discretion of the trustees but is usually determined by the criteria of any funding application. In particular the policy for including items Within costs of raising funds, charitable activities and governance costs is: Ralslngfvnds There are no specific costs that are attributable to the generating of funds. Charitoble artlvltles Thls comprises those costs incurred by the charty 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 of an indirect nature to support them. Governance costs Governance costs include all expenditure directly related to the administration of the charity including expenditure incurred in the management of the charity's 3$5ets, organi53tional administration and compliance with charitable and statutory requirements. 20
BURYILD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Allocation of costs within types of resources expended All costs, including pension costs, are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis. Resources expended include attributable VAT which cannot be recovered. Operating leases Rentals payable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentialty exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Art 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tan8ible fixed assets Fixed assets are stated at cost less accumulated depreciation. The properties a not depreciated as they are kept in good condition. and, as the residual value of the properties would be at least equal to the book value, there is no depreciation to be charged. Although the Companies Act and FRS 102 would normally require the systematic annual depreciation of all red assets, the trustees believe that the policy of not providing depreciation of properties is necessary in order for the accounts to give a true and fair view. Other assets are depreciated as detailed in the depreciation policy. Depreciation Depreciation is calculated so as to write off the cost or valuation, less its SIdUal value, over the useful economic Ilfe of that asset as follows: Asset class Fixtures and tIng$ Equipment Depreclatlon method and rate IO% straight line 25% straight line 21
BURYILD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds teh recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. for the purposes of impairment testin& when it is not possible to estimate the recoverable amount of an indp4idual asset, an estimate 15 made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets orgroups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the tash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Trade debtors Trade debtors are amounts due for seryices performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impaimient. A provision for the irnpairment of trade debtors established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditor5 Trade creditors are obligations to pay for 8oods or seryices that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities rf the charity does not have an unconditional right. at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twefve months after the reporti date. they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction pri. 22
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Borrowings Interest-bearing borrowings are Initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds. net of transaction costs, and the amount due on redemption being recognised as a charge to the Staternent of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowin85 are classified as current liabilities unless the charity has an unconditional rht to defer settlement of the liability for at least twelve months afterthe reporting date. Fund structure The charity maintains a general fund which represents fund which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital Investment. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of twstees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above. Any other proposed transfer between funds would be considered on the particular cirsumstances. Defined contribution plans Contributions to defined contribirtion plans are recognised as an expense in the period in which the related ser4ice is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on discounted present value basis. The unwinding of the discount is fecognised as an expense In the period in which it arises. Financial Instruments Clossificats'on A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 23
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Recognition and measurement Basic financial instruments are initially recognised at the amount receNable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and no discounted. Debt instruments Debt instruments are subsequently measured at amortised cost. Investments Where investments in shares are publicly traded or their fair value can otherwise be measured reliablyi the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Derivotlvefinonclalinstruments Other financial instruments, including derNatives, are initially retognised at fair value, unless payment for an asset is deferred beyond norrnal business temis or financed at a rate of interest that 15 not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment 1055 is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are COgnised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amouont would have been had the impairment not previousty been reco8nised. 24
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3 Income from donations and legacies Unrestricted fvnds General Total 2024 Total 2023 Donations and legacies: Social services contracts Supporting people Contact subscriptions Miscellaneous donations 1.537,467 (1,422) 2.531 1.745 1,537,467 (1,422) 2.531 1.745 1.219,807 (1,393) 8,031 1,541 1.540,321 1,540.321 1,227,986 4 Investment income Unrestricted funds General Total 2024 Total 2023 Interest receivable and similar income: Interest receivable on bank deposits 3,816 3,816 3,519 5 Other income Unrestrirted funds General Total 2024 Total 2023 Rental income Miscellaneous income 65,026 3,352 65,026 3,352 33,791 1,505 68,378 68,378 35,296 25
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6 Expenditure on charitable activities Unrestrirted funds General Total 2024 Total 2023 Charitable activities 1.065,655 355,995 4,8(Kl 1,065,655 355,995 4,81M) 838,525 328,356 4,400 Allocated support costs Governance costs 1,426,450 1,426,450 1,171,281 undertaken directly support costs 2024 2023 Charitable activities 1,065,655 355,995 4,8(K) 1,421,650 4,8(X) 1.166,881 4,400 Governan costs 1.065,655 360,795 1,426,450 1,171,281 26
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7 Analysis of govemance and support costs Support costs allocated to charitable activities Analysis of SUPPOrt Costs Total 2024 Totsl 2023 Staff costs 236.312 16.752 4,804 71.895 2,414 23,818 4,8 236.312 16,752 240,199 13,350 5,074 51,063 2,812 15,858 4,4CI) Premises Communications and IT General office 71,895 2,414 23,818 4,800 Human resources Finance costs Governance costs 360,795 360,795 332,756 Govefflan costs Unrestricted funds General Total 2024 Total 2023 Audit fees Audit of the financial statements 4.8(K) 4,81X) 4,400 4,8(Kl 4,81J) 4,400 8 Net IOMIng/oUt80nl resources Net incoming resources for the year include: 2024 2023 Audit fees 4,8(X) 764 4,4(XJ 764 Depreciation of fixed assets 9 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any 1mbur$ed expenses or any other benefits from the charity during the year. 27
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff ¢05ts during the year were= Wages and salaries Social security costs Pension costs 1.191,716 95,254 14,997 984,803 80,275 13,646 1,301,967 1,078,724 The monthly average number of persons {includin8 senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Administrative staff Number of staff engaged in charitable artivities 48 42 56 50 No employee received emoluments of more than £60,IJJ) during the year. 11 Auditors, remuneration 2024 2023 Audit of the financial statements 4.800 4,400 Other fees to audltors All other non-audit services 6.200 3,530 28
BURYILD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 Taxation The charity is a registered charity and is therefore exempt from taxation. 13 Tangible fixed assets Land and buildings Flxtures and Equipment Total Cost At l April 2023 968,880 7,635 24,305 1,000,820 At 31 March 2024 968,880 7,635 24,305 1,000,820 Depreciation At l April 2023 Charge forthe year 6.110 764 24.305 30,415 764 At 31 March 2024 6.874 24,305 31,179 Net book value At 31 March 2024 968,880 761 969,641 At 31 March 2023 968,880 1,525 970,405 14 Debtors 2024 2023 Trade debtors Prepayments and accrued income 191,509 117,747 118,805 115,045 309,256 233,850 15 Cash and cash equivalents 2024 2023 Cash on hand 859 230,545 299 199,501 Cash at bank 231,404 199,800 29
BURYILD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 Creditors: amounts falling due within one year 2024 2023 Bank loans Trade creditors Accruals and deferred income Othertaxation and social security Other creditors 13,290 1,328 6,647 21,150 852 13,354 1,670 4,740 16,845 1,580 43,267 38,189 17 Credltors: amounts falling due aftef one year 2024 2023 Bank loans 263,395 348,292 18 Obligations under leases and hire purchase contracts Operatin8 lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Land and bu51dings Within one year 1.127 1,134 Other Within one year Between one and five years 960 960 1,860 2,760 19 Pension and other schemes Defined contrfbution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £14,99712023 - £13,646). 30
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20 Funds Balance at I April 2023 Incoming Resources expended Balance at 31 March 2024 Unrestrirted funds General 1.016,082 1,612,515 (1,426,450) 1,202,147 Restrfcted Funds C Learning Polytunnel 1,163 329 1,163 329 Total restricted lunds 1,492 1,492 Total funds 1,017,574 1,612,515 (1,426,450) 1,203,639 Balance at l April Z022 Balance at 31 March 2023 Incoming Resources resources expended Transfers Unrestrirted funds General 770,562 1,266,801 (1.171.281) 150,CMJ) 1,016,082 Designated 1S0,(KMJ 1150,(XX)) Total unrestricted funds 920.562 1,266,801 (1,171,281) 1,016,082 Restrlcted funds C Learning Polytunnel 1.163 329 1,163 329 Total restrlrted funds 1,492 1,492 Total fund$ 922,054 1,266,801 11,171,281} 1,017,574 The specific purposes for which the funds are to be applied are as follows: The first restricted fund relates to a grant received from C Learnin& to fund the purchase of Possum A5SiStive Technology. The money has not yet been spent in full. The second restricted fund relates to income tofund the purchase of a potytunnel. 31
BURYILD NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets 969,641 539.168 (43,267) (263,395) 969,641 540,660 (43,2671 1263,3951 1,492 Current liabiltties Creditors over l year Total net assets 1,202,147 1,492 1,203,639 Unrestrirted funds General Total fvnds at 31 March 2023 funds Tangible fixed aetS Current assets 970,405 432,158 (38,189) {348,292} 970,405 433,650 (38,1891 {348,2921 1.492 Current liabilities Creditors over l year Total net assets 1.016.082 1,492 1,017,574 22 Contsct leisure division Total 2024 Total 2023 Total income Other expenses 2,641 1.373 8,554 1,499 Total expenditure 1.373 1,499 Net incoming/{outgoing) resources for the year 1.268 7,055 32
BURYILD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23 Analysis of net funds At l Awil 2023 Financing cash flows At 31 March 2024 Cash at bank and in hand 199,8 31,604 231,404 Net debt 199.800 31,604 231,404 At l April 2022 Financlng At 31 March cash flows 2023 Cash at bank and in hand 378,823 (179,0231 199,800 Net debt 378,823 {179,023) 199,800 24 Related party transactions There were no related party transactions in the year. 33