2025-03-31-accounts

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Annual Report & Consolidated Financial Statements

Amicus Trust Limited (A company limited by Guarantee)

For the year ended 31 March 2025

Charity No. 268639 Company No. 01182060

Amicus Trust Limited (a company limited by guarantee) Financial statements for the year ended 31 March 2025

Charity number:	268639
Company registration number:	1182060
Registered office:	104 Midland Road
	Bedford
	MK40 1QE
Directors and trustees:	J M H Armitage - Chair
	J N Sackett
	N D Daniels (resigned 1 May 2025)
	M Smythe
	J D Owen (resigned 1 August 2025)
	S J Dickinson (resigned 14 October 2024)
	A Macaulay (resigned 14 October 2024)
Chief executive:	D Ball
Bankers:	Unity Trust Bank PLC
	Bank of Scotland PLC
	Bath Building Society
Auditor:	Collett Hulance Accountants Limited
	40 Kimbolton Road
	Bedford
	MK40 2NR

Contents page to the financial statements

	PAGE
Report of the trustees	1 – 7
Independent auditor's report	8 – 11
Principal accounting policies	12 - 15
Consolidated Statement of financial activities	16
Comparative Consolidated Statement of financial activities	17
Consolidated Balance sheet	18
Charitable Company Balance sheet	19
Consolidated Statement of cash flows	20
Notes to the financial statements	21 - 36

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

REPORT OF THE TRUSTEES

The trustees, who are directors of the group for the purposes of the Companies Act, present their annual report and audited consolidated financial statements of the company and its subsidiary for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Directors and trustees

The directors of the charitable company Amicus Trust Limited are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. As set out in the Articles of Association dated 25 July 1974, as amended on 3 June 2010 and 8 November 2021, the chairman of the trustees is nominated at the Annual General Meeting. The trustees have the power to co-opt members to fill specialist roles.

The trustees

The trustees serving during the year and since the year end were as follows:

M Smythe - Chair J Sackett N D Daniels (resigned 1 May 2025) J Armitage J D Owen (resigned 1 August 2025) S Dickinson (resigned 14 October 2024) A Macaulay (resigned 14 October 2024)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Amicus Trust Limited is a company limited by guarantee, incorporated on 28 August 1974 in England and Wales, company number 1182060 and registered as a charity on 11 February 1975, charity number 268639.

Organisation

The company is managed by a board of unpaid trustees of up to 15 members. Trustees are recruited in line with Amicus Trust Limited's equal opportunities policy and selected on the basis of their dedication to the aims of Amicus Trust Limited and their experience of homeless issues, and working with vulnerable or excluded people, either through their daily work or in a voluntary capacity. New trustees must be members of Amicus Trust Limited and may be voted in during board meetings. New trustees are inducted by internal and external trainers and provided with training in the regulatory framework in which Amicus Trust Limited operates. The board of trustees meet quarterly. There are sub committees: a Job Evaluation Committee and an Audit Committee. The Chief Executive is assigned the day-to-day management of operations of the charity.

Amicus Trust Limited has a Job Evaluation Scheme in place which forms the basis of a fair pay system across the organisation.

During the year ended 31 March 2014, the charitable company took control of the charity Charlotte Beaty’s Almshouses. The charity’s principal activity is in line with that of the charitable company. The charity has no share capital therefore the charitable company has control of the charity as it is the sole trustee. The address of the registered office is Amicus Trust 104 Midland Road, Bedford MK40 1QE.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Risk management

The trustees have carried out a detailed review of the charity's activities in line with the business plan, which sets out the opportunities available to Amicus Trust Limited and the risks to which it is exposed. The trustees monitor the progress against the strategic objectives set out in the plan at each quarterly meeting and a comprehensive review of the plan is carried out annually. As part of this process, the trustees have implemented a risk management strategy, which comprises:

An annual review of the risks which the charity may face;
The establishment of systems and procedures to mitigate those risks identified in the plan; and
The implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.

The risks that could potentially have an impact on the charity are:

Termination of funding from other bodies;
Lack of funding for specific projects;
The future of contracts; and
A demise in the need for the service

OBJECTIVES AND ACTIVITIES

Purpose and aim

Amicus Trust Limited's purpose, as set out in the objects contained in the company's Memorandum of Association, is to:

Provide relief of poverty of persons who, by reason of mental or physical condition are unable to fulfil their duties as citizens or their obligations to their employers, in particular but not exclusively, through the provision of social and supported housing and related activities.

In undertaking this objective, Amicus Trust Limited aims to provide support, guidance and short-term accommodation to single homeless individuals. We aim to enable each individual service user to achieve and maintain independent living. In addition to our core provision of supported accommodation, our service users have access to our specialist outreach team who provide an individually tailored Education, Employment and Training service.

Our aim fully reflects the purpose that the charity was set up to further.

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity, the main one being how many residents have been helped to move on to independent living, and the benefits that each activity have brought to the groups of people that we are set up to help. The review also helps us to ensure that our aims, objectives and activities remain focused on our stated purposes.

We have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing our aims and objectives, and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that they have set.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

The focus of our work

Our main objectives for the year continued to be the provision of accommodation, support and guidance to single homeless people. The charitable company in practice provides services to homeless people in Bedfordshire, Buckinghamshire, Northamptonshire, Leicestershire, AylesburyVale, Huntingdonshire, Cambridgeshire and our subsidiary undertaking, Charlotte Beaty’s Almshouses provides services to those in Buckinghamshire. The strategies we used to meet our objectives included:

Providing a range of services which fully reflect the relevant quality standards and address all the main issues related to homelessness; and
Working in partnership with other agencies to secure the widest of services available that best match the needs of our clients.

How our activities deliver public benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the needs of single homeless people and are undertaken to further our charitable purposes for the public benefit.

The Charities SORP requires the trustees’ report to include the criteria used to measure and assess success in the reporting period.

ACHIEVEMENTS AND PERFORMANCE

Education and employment services

Amicus Trust Limited employs over 85 members of staff, and manages a number of projects providing accommodation support for over 320 individuals in Bedfordshire, Buckinghamshire, Northamptonshire, Leicestershire, AylesburyVale, Huntingdonshire, and now Cambridgeshire.

Service provision focuses on supporting service users as they achieve and sustain independence through individual support plans. This is managed through ongoing support including assisting service users to improve their life skills, to access education, training and employment and the provision of accommodation.

Amicus Trust Limited has developed innovative services to deal with issues faced by service users. The Trust identified the need for a service delivery to homeless veterans and today is supporting over 60 single homeless veterans. Amicus Trust Limited has dedicated houses for homeless veterans in Bedfordshire, Buckinghamshire, Northamptonshire and Leicestershire. Amicus Trust Limited continues to develop strong relationships with other agencies who support homeless service users, which provides a platform on which to improve future provision.

Supported accommodation

Amicus Trust Limited has many years' experience of providing accommodation for the homeless. The broad criteria for letting the accommodation are that an individual needs a period of support and reskilling before they can resume independent living. The accommodation and support is provided in one of the group homes and any reskilling and retraining is provided through the Stepping Stones project, with a Life Skills Development Worker or with a Mental Health Lead Officer. When an individual is ready to move on to independent accommodation they are helped to secure that accommodation and provided with any resettlement support required. A member of staff will stay in touch for as long as is necessary to allow for a smooth transition back into the community.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

In 2014, a pilot Veteran project for Amicus Trust Limited was set up to provide accommodation and support for 3 veterans and was the inspiration behind the creation of Heroes House, which provides support and accommodation for up to 9 homeless veterans. Further properties have been opened in Aspley Guise, Northamptonshire and Leicestershire and today we support over 60 homeless veterans.

Night Owl Project

The Night Owl Bus delivers support and guidance to individuals aged over 16 years. The type of support and guidance given is as follows:

Advice with housing applications and accessing supported accommodation;
Assistance with identifying areas of need requiring additional support to progress positively;
Signposting to specialist support agencies; and
Provision of a warm safe environment to sleep in overnight.

Alms Houses

In 2014 the charitable company took control of the charity Charlotte Beaty’s Almshouses. The charity owns a group of houses in Buckinghamshire. The charity does not have any employees and is managed by the trust.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

FINANCIAL REVIEW

Reserves policy

Despite focusing on obtaining new grants and minimising cost increases, the end of the year saw a loss for the year. The total reserves have reduced from £6,426,130 to £6,203,599 as at 31 March 2025. As at 31 March 2025, the charitable company's free reserves were £3,379,310 (2024: £3,672,793). As Amicus Trust has grown significantly over the past five years, it has been possible to hold free reserves to cover 6 months expenditure and any surplus funds are planned to increase the level of free reserves to cover more than the 6 months expenditure. Our reserves policy also calls for us to retain enough reserves to cover ongoing financial commitments in terms of leases etc. These commitments currently stand at £11.4m over the next 5 years.

Income and expenditure

Total income for the year increased to £8,448,980 in 2025 from £8,290,727 in 2024. The overall costs of the supported accommodation activity rose during the year from £7,897,436 in 2024 to £8,624,252 in 2025. This is due to increased service provision and costs.

The proportion of income received for restricted purposes represents 1.4% (2024: 1.8%) of total income. The focus of our restricted activities during the year was on the provision of Mental Health support and Veterans projects.

Overall, the result, before gains and losses on investments, was a deficit for the year of £310,459 (2024: surplus of £195,080). The deficit consists of a deficit on restricted funds of £19,562 (2024: £39,418 surplus) and a deficit on unrestricted funds of £290,897 (2024: £155,662 surplus).

At the year-end, the balance of unrestricted funds was £5,918,306 (2024: £6,121,275) and for restricted funds was £285,293 (2024 : £304,855).

The loss incurred during the year was mainly due to significant issues relating to West Northants Council who pay Amicus Trust for all residents of the Northampton properties. The West Northants Council has become very difficult to work with and were unable to process applications for payment for a significant portion of the year.

The number of void rooms during the year also siginificantly increased, resulting in lost revevue.

The trustees feel that these are temporary financial issues and that improvements will be shown in the 2025/26 accounts and subsequent years.

Capital commitment

There were no capital commitments at 31 March 2025.

Investment powers

Under the Memorandum and Articles of Association, the charity has the power to make any investment, which the trustees see fit.

The trustees are satisfied with the performance of the investments during the year.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

PLANS FOR FUTURE PERIODS

Support and Accommodation Projects

The future plans for Amicus Trust Limited will see significant new opportunities as the Trust continues to grow and to develop the range of services it provides.

Our Business Plan covers an analysis of the current position, opportunities and threats, and outlines the strategic activities that will enable the Charity to meet its objectives.

To enhance present and prospective partners’ knowledge of our services and encourage partnership working within other geographical areas.

To work within our objectives, Amicus Trust Limited will prevent repeated homelessness.

Work is continuing in developing further support to ex-military personnel providing accommodation, education, training and employment.

Statement of trustees' responsibilities

The trustees (who are also directors of Amicus Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting 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 financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as each of the trustees is 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 auditor is aware of that information.

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

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Auditor

Collett Hulance Accountants Limited will be deemed reappointed for the next financial year in accordance with section 162 of the Charities Act 2011 unless the company receives notice under section 419(2) of the Companies Act 2006.

Small Company Provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

BY ORDER OF THE TRUSTEES

j. Armitage Signed on 19 December 2025 @ 09:44

………………………………………………………..

J M H Armitage Chair of Trustees

Date:

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Independent auditor’s report to the members of Amicus Trust Limited

Opinion

We have audited the financial statements of Amicus Trust Limited (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 31 March 2025. which comprise the Consolidated Statement of Financial Activities, Comparative Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 31 March 2025 and of the group’s income and expenditure for the year then ended;
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 of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity and group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Comments 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 group's and the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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 information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Trustees’ Report which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors’ Report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of our knowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report.

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

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the group and parent charity financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specific by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Report of the Trustees and from the requirement to prepare a Strategic Report.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Responsibilities of Trustees

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

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent 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 charity or to cease operations, or have no realistic alternative but to do so.

Auditors responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the group and the parent charity and their industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.

We evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, significant one-off or unusual transactions and revenue cut-off.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations;
Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the group and the parent charity which were contrary to applicable laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

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/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the charitable group’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable group’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable group and the charitable group’s members as a body for our audit work, for this report, or for the opinions we have formed.

A R Upton Countersigned on 19 December 2025 @ 21:52

Andrew Robert Upton (Senior Statutory Auditor)

for and on behalf of Collett Hulance Accountants Limited Chartered Certified Accountants and Registered Auditors 40 Kimbolton Road Bedford Bedfordshire MK40 2NR

Date:

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

PRINCIPAL ACCOUNTING POLICIES

GENERAL INFORMATION

Amicus Trust Limited is a private company limited by guarantee, incorporated in England and Wales. The liability of each board member is limited to £1. The registered office is 104 Midland Road, Bedford, MK40 1QE. The principal activity of the charity is to provide relief of poverty of persons who, by reason of mental or physical condition are unable to fulfil their duties as citizens or their obligations to their employers, in particular, but not exclusively, through the provision of social and supported housing and related activities. The registered company and charity numbers are listed on the company information page.

The financial statements have been prepared in sterling GBP as this is the charity’s functional currency. All numbers are rounded to the nearest £.

ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with 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) (Charities SORP 2019 (FRS 102)) and the Companies Act 2006.

Amicus Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The financial statements have been prepared on the going concern basis because there are no material uncertainties related to events or conditions that may cast significant doubts about the ability of the charity to continue as a going concern.

Basis of consolidation

The financial statements consolidate the accounts of Amicus Trust Limited and its subsidiary undertaking, Charlotte Beaty‘s Almshouses, registered charity number 1049099.

Under Section 408 of the Companies Act 2006 the charitable company is exempt from the requirement to present its own profit and loss account. The charitable parent company’s deficit for the year was £307,130 (2024: £426,257 surplus).

All amounts in respect of group balances and transactions have been eliminated in arriving at the group figures.

The principal accounting policies of the charity are set out below.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Income

Donations and gifts

The income for the year is attributable to the principal activity of the charity, which is providing accommodation and support to single homeless people. Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when received. The value of the services provided by volunteers has not been included.

Rental income

Rental income is the income receivable for actual accommodation provided during the year to residents, excluding any arrears regarded as irrecoverable.

Investment income

Investment income includes interest accrued over the period but receivable on maturity, and includes any related tax credits.

Grants

Grants, including those for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities for the year in which they are receivable. Grants for the purpose of fixed assets are set aside in a restricted fund and the cost of the asset purchase is written-off against the funds over its estimated useful life.

Expenditure

Expenditure is recognised in the period in which it is incurred and includes attributable VAT. Expenditure is allocated to the particular project where the cost relates directly to the activity of that project. However the cost of overall direction and administration of each project, comprising of salary and overhead costs of the central function, is apportioned based on the salary costs for each project.

The costs of generating funds relate to the costs incurred by the charity in raising funds for charitable work.

Governance costs include the management of the company's assets, organisational management and compliance with constitutional statutory requirements.

Tangible fixed assets

Depreciation is provided for on assets with cost in excess of £500 in order to write off the cost of each asset over its estimated useful life, as shown below:

Furniture and equipment	25% and 35% on cost
Infrastructure / Building Works	20% on cost
Improvements to Leasehold property	Over the life of the lease
Vehicles	25% on cost
Freehold property	Not depreciated

Freehold property is revalued by an appropriately qualified person every 3-4 years, or when the book value is significantly different from the market value.

Depreciation costs are allocated to projects on the basis of the use of the related assets in those projects.

Pensions

The company operates a defined contribution (Money Purchase Plan) pension scheme which is managed by The Pensions Trust. The company's contributions payable for the year are charged in the Statement of Financial Activities as an unrestricted cost.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Unrestricted funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds

Designated funds are unrestricted funds set aside by the Board of Trustees for particular purposes.

Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together with a fair allocation of management and support costs, where applicable.

Investments

The charitable company has an investment in its subsidiary undertaking by virtue of its control over the entity.

Listed investments are held at open market value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Financial instruments

Financial assets and liabilities are recognised on the Balance Sheet when the charity has become a party to the contractual provisions of the instrument.

Operating leases

Rentals payable under operating leases are charged against income on a straight-line basis over the lease term.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the company’s accounting policies, the Directors are required to make judgements, estimates and assumptions utilising evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates, and assumptions, the actual results and outcomes may differ.

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, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.

The key estimates and assumptions made in these accounts are:

All debtors are reviewed to determine if a bad debt provision is required for each balance.

Property is held at fair value and is valued every 3-4 years by an external valuer. The Trustees assess the valuation annually based on market assumptions. Refer to notes 12 and 13 for further details.

Impairment testing is carried out for all tangible assets and investments at the year-end date where there is an indication that impairment exists. For the purposes of impairment testing, the carrying amounts of the tangible assets are reviewed and an impairment loss is recognised where the carrying amounts exceed the assets’ recoverable amount.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sale proceeds and the carrying amount of the assets and is recognised in the Statement of Financial Activities.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Consolidated statement of Financial Activities (including income and expenditure account)

				Total	Total
	Note	Restricted	Unrestricted	2025	2024
		£	£	£	£
Income from
Voluntary income	1	1,200	-	1,200	1,200
Investment income	2	-	99,340	99,340	40,554
Grant income	3	-	-	-	55,000
Income from charitable activities:
Supported accommodation	4	-	8,233,315	8,233,315	8,050,995
Lottery Funding for Mental Health	4	66,474	-	66,474	57,025
Harpur Trust – Mental Health	4	-	-	-	48,450
Beds & Luton Community Trust	4	-	-	-	5,000
The Evelyn Trust	4	38,236	-	38,236	6,588
House of Industry Funding	4	-	-	-	29,450
Other charitable grants	4	8,575	1,840	10,415	(3,535)
Total income		114,485	8,334,495	8,448,980	8,290,727
Expenditure on
Cost of generating funds
Raising funds from other organisations		-	(1,140)	(1,140)	(3,451)
Charitable activities:
Supported accommodation		-	(8,624,252)	(8,624,252)	(7,987,436)
Outreach/Mobile Night Shelter		-	-	-	(553)
Veterans projects		-	-	-	(15,526)
Other projects		(134,047)	-	(134,047)	(88,681)
Total expenditure	6	(134,047)	(8,625,392)	(8,759,439)	(8,095,647)
		__	__	__	__
Net income / (expenditure)	8	(19,562)	(290,897)	(310,459)	195,080
Gains / (losses) on investments	14	-	3,928	3,928	4,084
Transfers between funds	21	-	-	-	-
Other recognised gains / (losses)
Gains on revaluation of fixed assets		-	84,000	84,000	532,000
		__	__	__	__
Net movement in funds for the year		(19,562)	(202,969)	(222,531)	731,164
Total funds at 1 April 2024		304,855	6,121,275	6,426,130	5,694,966
Total funds at 31 March 2025		285,293	5,918,306	6,203,599	6,426,130

All of the activities of the group in the current year are classed as continuing.

The group has no recognised gains or losses other than the results for the year as set out above

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

				Total	Total
	Note	Restricted	Unrestricted	2024	2023
		£	£	£	£
Income from
Voluntary income	1	1,200	-	1,200	1,100
Investment income	2	-	40,554	40,554	1,681
Grant Income	3	-	55,000	55,000	-
Income from charitable activities:
Supported accommodation	4	-	8,050,995	8,050,995	7.323,293
Garfield Weston Mental Health	4	-	-	-	30,000
Lottery Funding for Mental Health	4	57,025	-	57,025	-
Dorothy Boyd Will (Bedford)	4	-	-	-	22,000
Harpur Trust – Mental Health	4	48,450	-	48,450	-
Wellingborough Land Aid	4	-	-	-	20,582
Veteran projects	4	-	-	-	58,894
Central Beds Mental Health	4	-	-	-	29,000
Beds & Luton Community Trust	4	5,000	-	5,000	-
Huntingdon & St Neots M Health	4	-	-	-	10,000
The Evelyn Trust	4	6,588	-	6,588	-
House of Industry Funding	4	29,450	-	29,450	-
Other charitable grants	4	(3,535)	-	(3,535)	8,250
Total income		144,178	8,146,549	8,290,727	7,504,800
Expenditure on
Cost of generating funds
Raising funds from other organisations		-	(3,451)	(3,451)	(1,162)
Charitable activities:
Supported accommodation		-	(7,987,436)	(7,987,436)	(5,576,389)
Outreach/Mobile Night Shelter		(553)	-	(553)	(541)
Veterans projects		(15,526)	-	(15,526)	(30,497)
Other projects		(88,681)	-	(88,681)	(1,269,094)
Total expenditure	6	(104,760)	(7,990,887)	(8,095,647)	(6,877,683)
		__	__	__	__
Net income / (expenditure)	8	39,418	155,662	195,080	627,117
Gains / (losses) on investments	14	-	4,084	4,084	(123)
Transfers between funds	21	-	-	-	-
Other recognised gains / (losses)
Gains on revaluation of fixed assets		-	532,000	532,000	-
		__	__	__	__
Net movement in funds for the year		39,418	691,746	731,164	626,994
Total funds at 1 April 2023		265,437	5,429,529	5,694,966	5,067,972
Total funds at 31 March 2024		304,855	6,121,275	6,426,130	5,694,966

All of the activities of the group in the current year are classed as continuing.

The group has no recognised gains or losses other than the results for the year as set out above

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Consolidated Balance Sheet

Note £ Fixed assets Property, plant & equipment 12 1,945,700 Investments 14 64,215 Current assets Receivables 15 390,105 Investments 14 1,639 Cash and cash equivalents 16 4,268,871 4,660,615 Payables: amounts falling due within one year 17 (466,931) Net current assets Net Assets Funds Unrestricted funds General funds 21 4,072,662 Designated funds 21 839,017 Revaluation fund 21 1,006,627 Restricted funds 21	Note £ Fixed assets Property, plant & equipment 12 1,945,700 Investments 14 64,215 Current assets Receivables 15 390,105 Investments 14 1,639 Cash and cash equivalents 16 4,268,871 4,660,615 Payables: amounts falling due within one year 17 (466,931) Net current assets Net Assets Funds Unrestricted funds General funds 21 4,072,662 Designated funds 21 839,017 Revaluation fund 21 1,006,627 Restricted funds 21	2025 £ 2,009,915 4,193,684 6,203,599	£ 1,855,785 60,287	2024 £ 1,916,072 4,510,058 6,426,130
	390,105 1,639 4,268,871 4,660,615 (466,931) 4,072,662 839,017 1,006,627		467,209 1,639 4,467,154 4,936,002 (425,944) 4,363,559 839,017 918,699
		5,918,306 285,293 6,203,599		6,121,275 304,855 6,426,130

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved and authorised for issue by the Trustees on …………………. and are signed on their behalf by:

j. Armitage Signed on 19 December 2025 @ 09:44

John Sackett Signed on 19 December 2025 @ 17:46

……………………………………………………….. ………………………………………………………..

J Armitage – Chair Chair of Trustees

J Sackett - Trustee

Registration number : 1182060

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Charitable Company Balance Sheet

Note £ Fixed assets Property, plant & equipment 13 Current assets Receivables 15 388,120 Cash and cash equivalents 16 4,185,903 4,574,023 Payables: amounts falling due within one year 17 (475,098) Net current assets Net assets Funds Unrestricted funds General funds 21 3,934,789 Designated funds 21 434,322 Revaluation fund 21 422,222 Restricted funds 21	2025 £ 977,701 4,098,925 5,076,626 4,791,333 285,293 5,076,626	£ 465,344 4,381,466 4,846,810 (434,840) 4,222,357 434,322 402,222	2024 £ 951,786 4,411,970
			5,363,756
			5,058,901 304,855
			5,363,756

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved and authorised for issue by the Trustees on …………………. and are signed on their behalf by:

j. Armitage Signed on 19 December 2025 @ 09:44

John Sackett Signed on 19 December 2025 @ 17:46

……………………………………………………….. ………………………………………………………..

J Armitage – Chair Chair of Trustees

J Sackett - Trustee

Registration number : 1182060

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Consolidated Statement of Cash Flows at 31 March 2025

Note Cash flows from operating activities Net (deficit)/income for the year Adjustments for: (Gains) on revaluation of investments 12, 14 Depreciation 8 Decrease in receivables Interest income 2 Increase in payables Cash flows generated from operating activities Interest income 2 Purchase of property plant and equipment 12 Cash flows generated from investing activities Cash flows generated from financing activities Net (decrease)/increase in cash and cash equivalents Cash at the beginning of the year Cash at the end of the year 16	2025 £ (222,531) (87,928) 39,474 77,104 (99,340) 40,987 (252,234) 99,340 (45,389) 53,951 - (198,283) 4,467,154 4,268,871	2024 £ 199,164 (4,084) 39,621 150,441 (40,554) (103,846)
		240,742 40,554 (28,908) 11,646 - 252,388 4,214,766
		4,467,154

The accompanying accounting policies and notes form part of these financial statements.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements

1 Voluntary income

Gift Aid receipts	Restricted Unrestricted Total 2025 Total 2024 £ £ £ £ 1,200 - 1,200 1,200 1,200 - 1,200 1,200

In addition to the above, a number of donations of furniture, food, toiletries and vouchers were received during the year. The total value of these is estimated to have been around £1,000 (2024: £1,000). We would like to thank all those who have given donations to us.

2 Investment income

Fixed term deposits and bank account interest	Restricted Unrestricted Total 2025 Total 2024 £ £ £ £ - 99,340 99,340 40,554 - 99,340 99,340 40,554

3 Grant income

Fenland District Council Grant	Restricted Unrestricted Total 2025 Total 2024 £ £ £ £ - - - 55,000 - - - 55,000

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

4 Income from charitable activities

	Restricted	Unrestricted	Total	Total
			2025	2024
	£	£	£	£
Supported accommodation
Rental income	-	7,994,313	7,994,313	7,823,343
Central Beds Supporting People Income	-	58,176	58,176	58,176
Places for People	-	180,826	180,826	169,476
	--------------------------------------------	--------------------------------------------	--------------------------------------------	--------------------------------------------
	-	8,233,315	8,233,315	8,050,995
	==============================================	==============================================	==============================================	==============================================
Other grants
Lottery Funding for Mental Health	66,474	-	66,474	57,025
Turvey Abbey	4,000	-	4,000	-
Harpur Trust – Mental Health	-	-	-	48,450
Variable Activities	4,575	-	4,575	-
House of Industry Funding	-	-	-	29,450
The Evelyn Trust	38,236	-	38,236	6,588
Beds & Luton Community	-	-	-	5,000
Other charitable grants – other projects	-	1,840	1,840	(3,535)
	--------------------------------------------	----------------------------------------------	--------------------------------------------	--------------------------------------------
	113,285	1,840	115,125	142,978
	==============================================	==============================================	==============================================	================================================

5 Net income from charitable trading activities of subsidiary

The charity controls a subsidiary charity, Charlotte Beaty’s Almshouses, a registered charity in England and Wales (1049099). The charity does not have share capital.

A summary of the results of the trading subsidiary Charlotte Beaty’s Almshouses (Registered Charity No. 1049099) is set out below:

Income Expenditure on charitable activities Net Income Gains / (losses) on revaluation of investments Gains / (losses) on revaluation of fixed assets Total funds brought forward Total funds carried forward	2025 £ 26,729 (30,058) (3,329) 3,928 - 1,062,376 1,062,975	2024 £ 26,871 (30,048)
		(3,177) 4,084 304,000 757,469 1,062,376

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

6 Total expenditure

Cost directly allocated to activities Direct staff costs charitable activities Advertising and other costs Recruitment and other staff costs Premises costs Project running costs Office running costs Supporting costs allocated to activities Support staff costs Project running costs Office running costs Legal and professional Finance costs Total Expenditure	Supported accommodation £ 1,526,206 - 115,551 4,407,867 400,138 162,015 712,844 45,141 54,005 - - 7,423,767	Education & Employment £ - - - - - - - - - - - -	Other activities & projects £ 584,733 - 51,268 78,863 - 97,646 273,111 45,141 32,549 168,813 2,408 1,334,532	Costs of generating voluntary income £ - 1,140 - - - - - - - - - - 1,140	2025 £ 2,110,939 1,140 166,819 4,486,730 400,138 259,661 985,955 90,282 86,554 168,813 2,408 8,759,439	2024 £ 1,951,606 3,451 153,232 4,080,630 311,524 198,896 786,149 391,718 66,299 144,848 7,294 -
						8,095,647

Support costs are allocated to each activity based pro-rata to the staff costs directly incurred by that activity.

7 Taxation

The charitable group is exempt from corporation tax as all its income is applied to charitable purposes.

8 Net income / (expenditure)

This is stated after charging: Depreciation - owned assets Auditors' remuneration - Audit Operating leases	2025 2024 £ £ 39,474 39,621 13,800 8,200 3,076,347 2,877,362

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

9 Staff costs

Staff costs were as follows:

Salaries National insurance costs Pension costs Temporary staff	2025 £ 2,669,348 240,708 110,518 56,404 3,076,978	2024 £ 2,224,215 185,404 92,300 162,181 2,664,100

There was one employee whose total employee benefits (excluding employer pension costs) fell within the range £90,000 to £100,000.

Pension costs relate to a defined contribution pension scheme operated by the charity. The assets of the scheme are held separately from those of the charity in an independently administered fund. There are £17,211 (2024: £16,139) unpaid contributions outstanding at the year end.

The average weekly number of employees during the year was as follows

Supported accommodation Administration	2025 79 24 103	2024 82 20 102

No volunteers were used in the year ended 31 March 2025 or 31 March 2024.

There is one employee who is considered to be key management personnel. The total remuneration (including pension contributions) paid to key management personnel for the year was £102,538 (2024: £59,238).

10 Trustees remuneration and expenses

The Trustees did not receive any emoluments or expenses during the year (2024: £nil).

During the year, Amicus Trust Limited did not have trustee indemnity insurance.

11 Related party transactions

The charitable company and the group have taken advantage of the exemption available according to Section 33 ‘Related party disclosures’ not to disclose transactions entered into between members of a group that are wholly owned.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

12 Group tangible fixed assets

		Improvements	Furniture
	Freehold	to Leasehold	and	Computer
	properties	property	equipment	equipment	Vehicles	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	1,807,000	74,772	540,229	133,981	64,020	2,620,002
Additions	-	-	35,405	9,984	-	45,389
Disposals	-	-	-	-	-	-
Revaluation	84,000	-	-	-	-	84,000
	----------------------------------------------	----------------------------------------------	--------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
At 31 March 2025	1,891,000	74,772	575,634	143,965	64,020	2,749,391
	==============================================	==============================================	========================================	==============================================	==============================================	==============================================
Depreciation
At 1 April 2024	-	74,772	495,499	129,926	64,020	764,217
Additions	-	-	34,396	5,078	-	39,474
Disposals	-	-	-	-	-	-
Revaluation	-	-	-	-	-	-
	----------------------------------------------	----------------------------------------------	--------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
At 31 March 2025	-	74,772	529,895	135,004	64,020	803,691
	==============================================	==============================================	========================================	==============================================	==============================================	==============================================
Net book value
At 31 March 2025	1,891,000	-	45,739	8,961	-	1,945,700
	==============================================	==============================================	====================================	====================================	==============================================	==============================================
At 31 March 2024	1,807,000	-	44,730	4,055	-	1,855,785
	==============================================	==============================================	====================================	====================================	==============================================	==============================================

The Group freehold properties have a total historic cost of £910,778. The Trustees obtain an independent revaluation by an appropriately qualified person every 3-4 years. The valuation is based on an open market basis. The properties were revalued as at 31 March 2024 by a local estate agent.

In the years between formal revaluations, the Trustees conduct an annual review of the valuations to take account of changes in either the condition of the properties or the local market. This is achieved from a review of the property valuations using national property websites. A revaluation uplift of £84,000 to reflect market changes has been recognized in the year ended 31 March 2025.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

13 Charitable company property, plant and equipment

		Improvements	Furniture
	Freehold	to Leasehold	and	Computer
	properties	property	equipment	equipment	Vehicles	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	903,000	74,772	536,874	133,981	64,020	1,712,647
Additions	-	-	35,405	9,984	-	45,389
Disposals	-	-	-	-	-	-
Revaluation	20,000	-	-	-	-	20,000
	----------------------------------------------	----------------------------------------------	--------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
At 31 March 2025	923,000	74,772	572,279	143,965	64,020	1,778,036
	==============================================	==============================================	========================================	==============================================	==============================================	==============================================
Depreciation
At 1 April 2024	-	74,772	492,143	129,926	64,020	760,861
Additions	-	-	34,396	5,078	-	39,474
Disposals	-	-	-	-	-	-
Revaluation	-	-	-	-	-	-
	----------------------------------------------	----------------------------------------------	--------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
At 31 March 2025	-	74,772	526,539	135,004	64,020	800,335
	==============================================	==============================================	========================================	==============================================	==============================================	==============================================
Net book value
At 31 March 2025	923,000	-	45,740	8,961	-	977,701
	==============================================	==============================================	====================================	====================================	==============================================	==============================================
At 31 March 2024	903,000	-	44,731	4,055	-	951,786
	==============================================	==============================================	====================================	====================================	==============================================	==============================================

The Charity freehold properties have a historic cost of £192,778 as at 31 August 2007 plus £308,000 as at 31 July 2015. The Trustees obtain an independent revaluation by an appropriately qualified person every 3- 4 years. The valuation is based on an open market basis. The properties were revalued as at 31 March 2024 by a local estate agent.

In the years between formal revaluations, the Trustees conduct an annual review of the valuations to take account of changes in either the condition of the properties or the local market. This is achieved from a review of the property valuations using national property websites. A revaluation uplift of £20,000 to reflect market changes has been recognized in the year ended 31 March 2025.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

14 Group Investments

Listed investments At 1 April 2024 Revaluation At 31 March 2025	Fixed asset investments £ 60,287 3,928 64,215	Current asset investments £ 1,639 - 1,639

The investments relate to the charitable subsidiary only. (Refer to note 5)

15 Receivables: amounts falling due within one year

		Group			Charitable company	Charitable company	Charitable company
		2025		2024	2025		2024
		£		£	£		£
Trade receivables		330,393		401,865	328,291		399,883
Prepayments and accrued income		51,231		19,981	51,231		19,981
Other Debtors		8,481		45,363	8,598		45,480
		390,105		467,209	388,120		465,344
Cash and cash equivalents
	Group			Charitable Company
	2025	2024			2025		2024
	£		£		£		£
Cash at bank	4,268,871	4,467,154		4,185,903		4,381,466

16 Cash and cash equivalents

17 Payables: amounts falling due within one year

Trade payables Accruals Other creditors	Group 2025 £ 275,826 112,049 79,056 466,931	2024 £ 321,951 83,825 20,168 425,944	Charitable company 2025 2024 £ £ 283,993 320,520 112,049 83,825 79,056 30,495 475,098 434,840

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

18 Status

The company is limited by guarantee and therefore has no share capital. The company is a registered charity, number 268639. Every member of the company undertakes to contribute to the assets of the company, in the event of the company being wound up while he/she is a member, or within a year after he/she ceases to be a member, for payment of the debts and liabilities of the company contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding £1.

19 Analysis of net assets between funds

Group	General	Designated	Restricted	Total funds	Total funds
	Funds	Funds	funds	2025	2024
	(including
	revaluation
	reserve)
	£	£	£	£	£
Tangible fixed assets	2,009,915	-	-	2,009,915	1,916,072
Current assets	3,536,305	839,017	285,293	4,660,615	4,936,002
Current liabilities	(466,931)	-	-	(466,931)	(425,944)
	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
	5,079,289	839,017	285,293	6,203,599	6,426,130
	==============================================	==============================================	==============================================	==============================================	==============================================
Charitable Company	General	Designated	Restricted	Total funds	Total funds
	Funds	Funds	funds	2025	2024
	(including
	revaluation
	reserve)
Tangible fixed assets	977,701	-	-	977,701	951,786
Current assets	3,854,408	434,322	285,293	4,574,023	4,846,810
Current liabilities	(475,098)	-	-	(475,098)	(434,840)
	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
	4,357,011	434,322	285,293	5,076,626	5,363,756
	==============================================	==============================================	==============================================	==============================================	==============================================

20 Comparative analysis of net assets between funds

Group	General Funds	Designated	Restricted	Total funds	Total funds
	(including	Funds	funds	2024	2023
	revaluation
	reserve)
	£	£	£	£	£
Tangible fixed assets	1,916,072	-	-	1,916,072	1,390,701
Current assets	3,792,130	839,017	304,855	4,936,002	4,834,055
Current liabilities	(425,944)	-	-	(425,944)	(529,790)
	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
	5,282,258	839,017	304,855	6,426,130	5,694,966
	==============================================	==============================================	==============================================	==============================================	==============================================

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

20 Comparative analysis of net assets between funds (continued)

Charitable Company	General Funds	Designated	Restricted	Total funds	Total funds
	(including	Funds	funds	2024	2023
	revaluation
	reserve)
	£	£	£	£	£
Tangible fixed assets	951,786	-	-	951,786	734,499
Current assets	4,107,633	434,322	304,855	4,846,810	4,742,062
Current liabilities	(434,840)	-	-	(434,840)	(539,062)
	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------	----------------------------------------------
	4,624,579	434,322	304,855	5,363,756	4,937,499
	==============================================	==============================================	==============================================	==============================================	==============================================

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

21 Movement in funds

Group	At				At
	1 April	Income	Expenditure	Transfers	31 March
	2024				2025
	£	£	£	£	£
Restricted funds
Turvey Abbey	23,812	4,000	-	-	27,812
Wellingborough Land Aid	2,400	-	-	-	2,400
The Evelyn Trust	-	38,236	(31,799)	-	6,437
Variable Activities	1,649	4,575	-	-	6,224
Primaflow (M Health Funding)	1,070	-	-	-	1,070
Northampton Mental Health	48,257	-	(35,232)	-	13,025
Mental Health – South	10,005	-	-	-	10,005
Nationwide Xmas Donations	2,046	-	-	-	2,046
Donations received – gift aid	9,674	1,200	-	-	10,874
PPE Funds	13,564	-	-	-	13,564
Cambridgeshire Residents	9,294	-	-	-	9,294
House of Industry Fundin	7,806	-	(7,806)	-	-
Beds & Luton Community	5,000	-	-	-	5,000
Fire and Country Funding	1,000	-	-	-	1,000
Leicester CMF Fund	3,000	-	-	-	3,000
Peterborough Activities Fund	1,431	-	-	-	1,431
Central Beds Mental Health	9,000	-	-	-	9,000
Garfield Weston Mental Health	27,000	-	-	-	27,000
Lottery funding for M Health	-	66,474	(59,210)	-	7,264
Harpur Trust for M Health	45,026	-	-	-	45,026
Gale Family Trust	2,853	-	-	-	2,853
Dorothy Boyd Will (Bedford)	22,000	-	-	-	22,000
Other Restricted Funds	558	-	-	-	558
	-------------------------------------------------------------	---------------------------------------------------------------	------------------------------------------------------------------	-----------------------------------------------------------------	------------------------------------------------------------------
	246,445	114,485	(134,047)	-	226,883
Mobile Night Shelter Funds
Garfield Weston Foundation	4,107	-	-	-	4,107
Old Wixam Tree Trust	8,291	-	-	-	8,291
Blunham Parish Trust	66	-	-	-	66
	-------------------------------------------------------------	---------------------------------------------------------------	--------------------------------------------------------------	----------------------------------------------------------------	----------------------------------------------------------------
Sub-Total Mobile Night
Shelter	12,464	-	-	-	12,464
Veterans Project
Cublington Veterans Fund	14,000	-	-	-	14,000
ABF The Soldiers Charity	12,308	-	-	-	12,308
Veteran Mental Health	4,610	-	-	-	4,610
Farnborough Garrison Fund	2,893	-	-	-	2,893
The Armed Forces Covenant	9,036	-	-	-	9,036
Other Veterans Funds	599	-	-	-	599
	-------------------------------------------------------------	---------------------------------------------------------------	---------------------------------------------------------------	------------------------------------------------------------------	----------------------------------------------------------------
Sub –Total Veterans Project	43,446	-	-	-	43,446
Wixamtree / Sandy Baptist Ch.	2,500	-	-	-	2,500
	---------------------	--------------------	---------------------	---------------------	--------------------
Total Restricted Funds	304,855	114,485	(134,047)	-	285,293
	-------------------	-------------------	--------------------	-------------------	--------------------

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

21 Movement in funds (continued)

Group			At				Gains on	At
			1 April	Income	Expenditure	Transfers	revaluation of	31 March
			2024				Investments	2025
			£	£	£	£	£	£
Unrestricted	funds
General funds			4,363,559	8,334,495	(8,625,392)	-	-	4,072,662
Revaluation fund			918,699	-	-	-	87,928	1,006,627
Designated	Charlotte	Beatty
property			404,695	-	-	-	-	404,695
Designated Bus. Transition		fund	300,000	-	-	-	-	300,000
Designated maintenance fund			30,000	-	-	-	-	30,000
Designated mini bus fund			4,322	-	-	-	-	4,322
Designated property fund			100,000	-	-	-	-	100,000
			----------------------	------------------	-------------------------	------------------	-----------------------	----------------------
Total unrestricted funds			6,121,275	8,334,495	(8,625,392)	-	87,928	5,918,306
			--------------------	-------------------	---------------------	-----------------	-----------------------	--------------------
Total funds			6,426,130	8,448,980	(8,759,439)	-	87,928	6,203,599
			============================================================	================================================	=======================================================	==========================================	========================================================	============================================================

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

21 Movement in funds (continued)

Charity	At				At
	1 April	Income	Expenditure	Transfers	31 March
	2024				2025
	£	£	£	£	£
Restricted funds
Turvey Abbey	23,812	4,000	-	-	27,812
Wellingborough Land Aid	2,400	-	-	-	2,400
The Evelyn Trust	-	38,236	(31,799)	-	6,437
Variable Activities	1,649	4,575	-	-	6,224
Primaflow (M Health Funding)	1,070	-	-	-	1,070
Northampton Mental Health	48,257	-	(35,232)	-	13,025
Mental Health – South	10,005	-	-	-	10,005
Nationwide Xmas Donations	2,046	-	-	-	2,046
Donations received – gift aid	9,674	1,200	-	-	10,874
PPE Funds	13,564	-	-	-	13,564
Cambridgeshire Residents	9,294	-	-	-	9,294
House of Industry Fundin	7,806	-	(7,806)	-	-
Beds & Luton Community	5,000	-	-	-	5,000
Fire and Country Funding	1,000	-	-	-	1,000
Leicester CMF Fund	3,000	-	-	-	3,000
Peterborough Activities Fund	1,431	-	-	-	1,431
Central Beds Mental Health	9,000	-	-	-	9,000
Garfield Weston Mental Health	27,000	-	-	-	27,000
Lottery funding for M Health	-	66,474	(59,210)	-	7,264
Harpur Trust for M Health	45,026	-	-	-	45,026
Gale Family Trust	2,853	-	-	-	2,853
Dorothy Boyd Will (Bedford)	22,000	-	-	-	22,000
Other Restricted Funds	558	-	-	-	558
	---------------------------------------------------------------	----------------------------------------------------------------	----------------------------------------------------------------	------------------------------------------------------------------	------------------------------------------------------------------
	246,445	114,485	(134,047)	-	226,883
Mobile Night Shelter Funds
Garfield Weston Foundation	4,107	-	-	-	4,107
Old Wixam Tree Trust	8,291	-	-	-	8,291
Blunham Parish Trust	66	-	-	-	66
	------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------
Sub-Total Mobile Night Shelter
	12,464	-	-	-	12,464
Veterans Project
Cublington Veterans Fund	14,000	-	-	-	14,000
ABF The Soldiers Charity	12,308	-	-	-	12,308
Veteran Mental Health	4,610	-	-	-	4,610
Farnborough Garrison Fund	2,893	-	-	-	2,893
The Armed Forces Covenant	9,036	-	-	-	9,036
Other Veterans Funds	599	-	-	-	599
	------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------	-----------------------------------------------------------------
Sub –Total Veterans Project	43,446	-	-	-	43,446
Wixamtree / Sandy Baptist Ch.	2,500	-	-	-	2,500
	---------------------	--------------------	---------------------	---------------------	--------------------
Total Restricted Funds	304,855	114,485	(134,047)	-	285,293
-----------------------		-------------------	--------------------	-------------------	--------------------

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

21 Movement in funds (continued)

Charity	At			Gains	on
	1 April	Income	Expenditure	revaluation of		At
	2024			Investments		31 March
	£	£	£			2024
					£	£
Unrestricted funds
General funds	4,222,357	8,306,701	(8,594,269)		-	3,934,789
Revaluation fund	402,222	-	-		20,000	422,222
Designated Bus. Transition fund	300,000	-	-		-	300,000
Designated maintenance fund	30,000	-	-		-	30,000
Designated mini bus fund	4,322	-	-		-	4,322
Designated property fund	100,000	-	-		-	100,000
	-----------------------	----------------------	-------------------------	-----------------------		-----------------------
Total unrestricted funds	5,058,901	8,306,701	(8,594,269)		20,000	4,791,333
	---------------------	-----------------------	-----------------------	-----------------------		---------------------
Total funds	5,363,756	8,421,186	(8,728,316)		20,000	5,076,626
	============================================================	==============================================================	=======================================================	========================================================		============================================================

22 Purpose of funds

Wellingborough Land Aid

In March 2021 funds were received to help with a project in Wellingborough High Street. This is to cover building works required.

The Evelyn Trust

The Evelyn Trust, based in Cambridgeshire, are funding a mental health worker to support the residents we house in Cambridgeshire.

House of Industry

Funding was secured from the House of Industry to fund the services of an Employability worker for the Stepping Stones project.

Beds & Luton Community

These funds were given specifically to help the charity’s activities within Bedfordshire.

Northampton Mental Health

A donation from Garfield Weston Foundation was given to the trust specifically to fund Mental Health advisors and support within the Northampton project.

Mental Health - South

Garfield Weston Foundation are also providing funds to support our Mental Health workers in the South projects.

Harpur Trust for Mental Health

The Harpur Trust, based in Bedford, is a regular supporter of Amicus activities with large donations. They have provided Amicus with a large donation in 23/24 financial year to help fund the mental health team. They have also provided funds for the Veteren’s projects Amicus runs.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

22 Purpose of funds (continued)

PPE Funds

At the start of the Covid pandemic in March 2020, PPE grants were made to Amicus Trust by Crisis UK and the Leicestershire and Rutland Community Foundation.

Cambridgeshire Residents

Donation has been received to support activities for residents within new projects in March, Wisbech and Ely, Cambridgeshire.

Leicester CMF Fund

Leicestershire Community Foundation donated £3k towards funding activities for the residents we support in Leicestershire.

Dorothy Boyd Will

This resident of Bedford donated £22k from her will to help fund the support we give to our Bedford residents.

Mobile Night Shelter Funds

Our bus-based service which drives around Bedfordshire at night, supporting rough sleepers has the capacity to provide shelter for up to 8 rough sleepers at any one time. The objective is to get as many rough sleepers as possible onto the path to supported accommodation. Various charities have given funds towards the costs of this project. Our heartfelt thanks go to all of them in enabling the project to continue and become a real success.

Gale Family Charity Trust

Provided funds towards the revenue costs of the Night Owl bus.

Garfield Weston Foundation

Provided funds in July 2017 towards the revenue costs for the Night Owl bus.

Old Wixam Tree Trust

Provided funds in November 2017 towards the revenue costs of the Night Owl bus.

Blunham Parish Church

Provided funds in January 2020 towards the revenue costs for the Night Owl bus.

Veterans Project

In 2014 we piloted a veterans project, providing accommodation and support for 3 veterans, followed by the creation of Heroes House in 2015 which accommodated a further 9. In 2016 we expanded in Bedfordshire, Buckinghamshire, Northamptonshire and Leicestershire providing support and accommodation for a further 60 plus homeless veterans.

Cublington Veterans Project

Have provided funds for a Horticultural Project at Cublington.

ABF Soldiers Charity

Provided during the year to ensure security within the veterans projects.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

22 Purpose of funds (continued)

Veterans Mental Health

Austin & Hope Pilkington Trust provided a donation towards the salary cost for veterans mental health

Farnborough and Corby Garrisons

These garrisons have provided funding towards support for the veterans we look after.

General Revaluation Fund

This fund relates to the revaluation of properties owned and also investment funds.

Charlotte Beaty Property Fund

This fund was set up in 2014 when the charitable company took control of Charlotte Beaty’s Almshouses for the purpose of showing the value of the properties when donated to the charity.

Designated Business Transition Fund

This fund was set up in 2013 to support the need to diversify Amicus Trust Limited’s funding and reduce its reliance on funding from Supporting People.

Designated Maintenance Fund

This fund was started in 2005 for the purpose of setting aside funds to help cover the costs of dilapidation on leased properties at the end of the lease.

Designated Mini Bus Fund

This fund was started in 2006. The aim of this fund is to purchase a minibus which would be used to transport residents and their belongings between sites and when they are resettled. It would also be used to transport residents to activities that are not within walking distance.

Designated Property Fund

This fund was set up in 2015 for the purpose of setting aside funds to purchase new properties and for the set up costs of leasing new properties.

23 Other financial commitments

At 31 March 2025 the group and the charitable company were committed to make the following payments during the next year in respect of operating leases:

Leases which expire: Within one year Within two to five years More than five years	2025 £ 3,307,513 8,087,694 - 11,395,207	2024 £ 3,098,117 9,762,921 64,218 12,925,256

24 Contingent liabilities

There were no contingent liabilities as at 31 March 2025 or 31 March 2024.

Amicus Trust Limited (A company limited by guarantee) Financial statements for the year ended 31 March 2025

Notes to the Financial Statements (continued)

25 Financial Instruments

Group

FINANCIAL ASSETS Cash and cash equivalents Financial assets that are debt instruments measured at amortised cost FINANCIAL LIABILITIES Financial liabilities measured at amortised cost	2025 £ 4,268,871 330,393	2024 £ 4,467,154 401,865
	4,599,264	4,869,019
	297,721	342,119
	297,721	342,119

Financial assets measured at amortised cost comprise trade receivables.

Financial liabilities measured at amortised cost comprise trade payables and other creditors.

Charity

FINANCIAL ASSETS Cash and cash equivalents Financial assets that are debt instruments measured at amortised cost FINANCIAL LIABILITIES Financial liabilities measured at amortised cost	2025 £ 4,185,903 336,889	2024 £ 4,381,466 399,883
	4,522,792	4,781,349
	305,888	351,015
	305,888	351,015

Financial assets measured at amortised cost comprise trade receivables.

Financial liabilities measured at amortised cost comprise trade payables and other creditors.

26 Control

The Board of Trustees are the controlling party.

Annual Report & Consolidated Financial Statements

For the year ended 31 March 2025

Company information

Contents page to the financial statements

REPORT OF THE TRUSTEES

REFERENCE AND ADMINISTRATIVE DETAILS

Directors and trustees

The trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Organisation

Risk management

OBJECTIVES AND ACTIVITIES

Purpose and aim

Ensuring our work delivers our aims

The focus of our work

How our activities deliver public benefit

ACHIEVEMENTS AND PERFORMANCE

Education and employment services

Supported accommodation

Night Owl Project

Alms Houses

FINANCIAL REVIEW

Reserves policy

Income and expenditure

Capital commitment

Investment powers

PLANS FOR FUTURE PERIODS

Support and Accommodation Projects

Statement of trustees' responsibilities

Auditor

Small Company Provisions

Independent auditor’s report to the members of Amicus Trust Limited

Opinion

Basis of opinion

Comments relating to going concern

Other Information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of Trustees

Auditors responsibilities for the audit of the financial statements

Use of the audit report

PRINCIPAL ACCOUNTING POLICIES

GENERAL INFORMATION

ACCOUNTING POLICIES

Accounting convention

Going concern

Basis of consolidation

Income

Donations and gifts

Rental income

Investment income

Grants

Expenditure

Tangible fixed assets

Pensions

Unrestricted funds

Designated funds

Restricted funds

Investments

Debtors

Cash and cash equivalents

Creditors

Financial instruments

Operating leases

Judgements in applying accounting policies and key sources of estimation uncertainty

Consolidated statement of Financial Activities (including income and expenditure account)

Comparative Consolidated statement of Financial Activities (incorporating an income and expenditure account)

Consolidated Balance Sheet

Charitable Company Balance Sheet

Consolidated Statement of Cash Flows at 31 March 2025

Notes to the Financial Statements

2 Investment income

Notes to the Financial Statements (continued)

4 Income from charitable activities

5 Net income from charitable trading activities of subsidiary

Notes to the Financial Statements (continued)

6 Total expenditure

7 Taxation