Charity registration numb•r 1051649 Company reglstration number 03128681 (England and Wales) EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 *ADIFUH87• 2111212024 COMPANIES HOUSE A28
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EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs E Convery Mrs K Cook MrDTYLiu Mr5 A Roberts (Vi¢e-Chair) Mr N Stringfellow (freasuier) Mr l Turnbull (Chair) (Appointed 10 May 2023) Secretsry Mr S Tetley Key Management Personnel Mrs C Alexander Mrs J Finn Mr G Howells Ms J Park MrA Taylor Mr S Telley Charity numbèr 1051649 Company numbor 03128681 R•glst•red offlco 19 Pelham Road Nottingham NG5 1AP Audltor Rogers Spencer Newslead House Pelham Road Nottingham NG5 1AP Bankèrs Nalwest Bank Nottingham Clty Branch 148-149 Victorla Centre Nottingham NG13QT Soll¢ltorn Shoosmilhs The XYZ Building 2 Hardman Boulevard Spinningfields Manchester M3 3AZ
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA CONTENTS Pag• Trustees. report statemenl of trustees, responsibilities 13 Independent auditorfs report 14-17 Statement of finaneial activrties 18 Balance sheet 19 Stat8menl of cash flows 20 Not8S to the finanrAal stalements
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial slatemenls have been prepared in accordance with Ihe accounkn'ng policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charrties: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland {FRS 102)" {effeclive 1 January 2019}. Objectives and a¢tlvftles The charity known as Tuvida, is affiliated with Carers Trust, a national charity with a membership of local carer organisalions like Tuvida and colleclively are ¢alled Network Partners. Tuvida supports unpaid carers and the people they caie for. It is a not-lor-profft, charitable organisalion working in England and Wales. The trusteas have paid due regard lo guidance issued by ihe Charity Commlsslon on public benefit when reviewing our aims and objectives and in planning our activities. le provide one-to-one care and group support for adults and children with a wide variety of needs and conditions at home and in the community. This also provides unpaid ¢arers with a valuable break. We deliver the key seNices: Community Care Hospital Discharge Inlorn)alion and Guidance The services are delivered by OUT teams based in the heart of our communities. We pride ourselves on providing high quality and incluslve seNlc8s that make a difference to people's lives. We will: Aim to provide services of the highest possible quality, working to achieve the Excellence for Carers quality mark, and outstanding ratings through the Care Quality Commission. Ensure people who access OUT serw¢es can do so In the way they want. whether face lo face. virtualty, or dlgilally. This will be through the development of regional hubs and ac¢ess to innovative virtual carers serviGes that will be shaped by the voice of those receiwng support. Enable Ihe people we support to infom us about the difference our services make to them through the development ol an organisational wide impact framework. Our service objectives are.. To provide practical and emotional support to people living with a disability, their carers. and their families. To help prevent unnecessary and unwanted admissions to hospital and residential care. To maintain and preserve the exacting standards and reputation associated with Tuvida. To work in partnership with statutory and voluntary organisations and other stakeholders to meet the needs of our mosl vulnerable in society. To foster in those for whom we care a sense of belonging lo the wider community by increasing ¢hoi¢e and enhancing quality of life. To promote boih patient and carer Involvement. ensuring their ideas and opinions form an integral part of the care service. To further enhance and develop mutual leaming programmes between Tuvida, other voluntary seclor organisations, health, and local authority services.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 How our activilies deliver public benefft Carers supported by Tuvida experience reduced levels of stress and feel mor• able to manage their caring role. Carers can regain I maintain a foothold into their social l economic environmenls as a result of the care Tuvida provides. Tuvida develops and diversifies Its care servlces, ensuring the organisation remains representative of the carers it serves. Tuvida, slalulory and voluntary organisations together with all other stakeholder bodies embrace and develop a culture of 'mulual learning." SeThice users and thelr carers take the lead in developing a care package from Tuvida. Achievoments and perfomiance Financial year 2023-24 continued lo be a ¢hallenglng year financially lor many ol our beneficiarles and staff. The cosl-of-living crisis continued, with a health and social care system that is broken wilh no prospect of a long-lerm solution being put in place and continued ¢onsiderable recruitment challenges for our sector. All these challenges. affect those most vulnerable in society and they are the people Tuvida support every day and we know they will continue lo need us now more than ever. The number ol people who will require care and suppori at home as well as advlce, information and support for adult and young carers is increasing every day resulting In an increased demand for our ser4ices, while resources for our work remains static as Govemment funding is Cut year on year. This was a year of transition and planning, We embarked on our largest engagement plan ever; talking to our staff, partners, experts and, crucially, the people that received our services about what they wanted from Tuvida in the future and how we deliver thal. This engagement plan inlormed our Slral8gy for the next three years and was the most comprehensive one we have done for a long while. We completed our engagement plan and produced our Strategy document for 2024-2027. Along with the development of our new Strategy we al80 delivered the followlng Strateglc pTlorities. Financlal Plans We saw a rise of 9.7OA in the National Living Wage and significant cost increases across most of our suppliers and fvnder3, who are mainly local authorities, and are strapped lor cash. Wthile publi¢ sector organisations budgets were tlght, we actlvely engaged with them to seek increases to match the rising the cost of care and in line with the recommendation$ and analysi5 by Homecare Association UK and achieved some success with this in some locations. nl SeNice HFRS Contra We implemented the successfully re-lendered hospital discharge service with Nottinghamshire County Counryl. (NCC). We.. Increased levels of care by 1000/0 for the same income. Increased our focus on reablement so patients can return to irKlependence more quickly. Worked in partnership with NCC and all hospitals in the "Transfer of Care Hubs" for quicker discharge and assessment. However, we experienced a challenge in Ihe first quarter delivering the volume required due to the complexrty of the contract and Iransrtion from the previous KPIS, workflows and staff ulilisalion of the previous contracl. This resulted in less income which impacted on cash flow exacerbated by thè fact we were paid in arrears rather Ihan in advance as previously.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 To mrtigale further risk to the organisalion. the executive team and Board took decisive action and implemented a robust recovery plan which included: A redundancy programme Additional scruiiny of income, costs bolh pay and non-pay, debt recovery process to mitigate cash flow New Teporting suite developed including daily stats reports Deep dlve into current Processes. systems and staff utilisation to drive up efficiencies Increased oversight and support to the operations teams by DIreOr8 and Chief Officers Established weekly calls with the Commissioner lo share recovery plans in an open and transparent manner and maintain our trusled relationship with them Implemented monthty Board meetings to provide govemance oversighl and decision making The successful implemenlalion of the recovery plan in the second quarter. ensured we were back on track to deliver the full contract requirements by October 2023. Throughout the year. we also delivered our ambitious priorities and core programmes of work. Idenlified new opportunit18s lo support more carnrs and p8opl8 with cam needs. started lo develop our prlvate work in North Northamptonshlre, utillsing dients Ihal are leaving the. short- term hospital discharge services. Successfully lendered the Nottingham Young Carer8 Hub contract and expanded this work into Nottingham City brlnging additional income into Tuvida. However, we were unsu¢¢essful with the adult carers contract for Ihe County and the City which we had delivered for a long time. We successfully managed TUPE in and TUPE out wrth these Contracts and were delivering all the KPIS by the end of the financial yeaT for the YC contract. Grow our seThices through new partnerships 8¢mss the UK. Worked closely wilh Home from Home in Havering (our Essex location) and completed the transfer. This is conlinuin9 into the new financial year. Expanded our partnerships in Wales with a successful lender for Ihe Bridgend Carers Hub, and transfer of vo service5 for Cardiff and The Vale in the last Iwo weeks of March due lo another provider ¢105ing. Attract and relain the b8$1181enl avallabl8 in our seclor. Increased our investment in our recruilment and talent team providing more supporl to k)cal delivery teams and improving our success rates. Developed our recruiimenl pradlces and processes enabling a better experlence for candidates and internal managers and improved inter-departmental working and underslanding. Focus on becoming an employer of choic8. Developed our retention and engagement strategy that focussed on wellbelng, volce and values. This included the continuation of the staff welfare fund. wellbeing hints and tips in every staff newsletter, improved staff meetings and establishment of a staff well-being group via Whatsapp and video Calls lo share ideas, experiences and support. Invested £40k in a new HR system Ihat will enable our people lo feel engaged and valued. The system was eslablished to meet the specific needs of Tuvida, all existing documenlalion and details were uploaded and all staff trained. With other 450 staff in the organisalion at any lime, this was no small task. This will be fully implemented in the next financial year.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Conlinuously impmve the technology and systems that support the delivery of sgrvices, Carried out a root and branch rewew of Our IT infrastructure to ensure it is fit for the future overseen by new Systems Oversight Group. This work is continuing into the next financial year. Along with the new HR system, continuous improved use of access care planning, we also installed a new organisation-wide telephone system, Horizon. With all offices on a single system, we saved expenditure on multiple contra¢l$ and improved communication between our locations and head office. Demonstrate the Impact of our work. Developed delivery and mobilisation plans for existing services and new services through lenders and fundraising. Templates and guidance developed lo support future business opportunilies. Vlork began to improve our reporting capabilities for our Hub services along with development of case sludies for social media and ¢onlra¢t monitoring demonslraling ihe impact of our work. More work 1$ required in this area of work and will be included in our new Strategy. A lop-level irnpad report was produced and shared across the organisalions, wilh stakeholders and posted on our website. D8v8lop our Foundalions We carried out the largest engagement plan to Infomi our new strategy speakin9 to and consultlng our benefi¢iaries. staff. stakeholders and partners and the public through an online survey. Our three-year strategy was completed by the end of Ihe year and included our new vision and 'the Tuvida way, lo enhance our culture and values. This will be implemented from April 2024. We conllnued to develop relationships with funders and commissioners via partnerships and slakeholdei engagement, in Wesl Northamptonshire, West Sussex and with Carers Trust and other NelwoTk Partners. Support our Leaders lo Succeed Preparation for a new leadership programme acr058 our senior leadershlp team started bul the programme was put on hold due to the impact of the redundancies and financial situation. Menloring took place with some operational managers to improve their commercial awareness and understanding in preparation for developing the private care market in their locations. Two staff were trained as awediled Clarity 4D facililalor8 to dellver the tool as part of a leadershlp and team Iraining programme over the next two years. Our participation in the work of our key partner Carers Trust continued including the Enhanced Valuation Proposition Project, regional Neork Partner meetings. the Annual Nelwork Partner Conference and national forums expanding this into Wales wlth our successful lender in Bridgend. Although the Virtual Carers Centre has been dèlayed we also engaged in various Webinars on Impact Measurement Framework and Social Return on Investment, and Safe space for LGBT+ Carers. Through Carers Trust membership, we are able to access grants lo support our beneficiaries for a range of issues, including respite breaks, while goods and training. We are also a communty member of Carefree which offers free breaks in hotels and holiday a¢commodation for carers, the only ¢ost being small admin fee. Our Partnei$hip with 'Cuidadores' in Portugal has conlinued to enable them to further develop Carers services in and around Porto and raise their national profile. During our years of partnership. we conlinue to be impressed with the impact they are having, evidenced at their national Carers event where they secure speakers from the Portuguese Govemment and other key stakeholders. They Game to the UK in February 2024, visiting our Bridgend services in Wales, meeting the team and local commissioners. We supported them with a small donation of £10k for their central functions. We launched our new updated Welfare Fund in April 2023. This removed the focus on Covid relaled grants and widened the criteria lo other financial Challenges for our staff induding cost of living. Car repairs. other significanl loss of income, bereavement costs etc. Our Trustees invested £10k and quarterly reports were provided at our Board Meetings.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Strategic and external actlvity During this year, we developed our new extemal strategy, albeit Ihe completion was delayed to April 2024 due to the dealing with the financial issues earlier in the year. Wle continued lo have a strong exlemal focus, especially wrth our key strategic partner, Carers Trust. Carers Trust launched their new five-year strategy at their autumn conference and our Deputy CEO participated in the strategic project., Enhanced Value Proposition Project. The focus of this projèct was to reNiew the relationship belween Carers Trust and NetWQTk Partners wilh an oulcome of a refreshed focus and agreement on priorities and working relationships. Our CEO and Deputy CEO continued to participate in events wlth the Leaders of Great Britain (previously the Leaders Council) gaining insights from well known leaders across a range of disciplines including sport and politics. Financial review Following a surplus in Ihe prewous year 01 £246k the plan for FY2024 was to continue to dellver a surplus to bulld Ihe charities unrestricted levels back up following the Covid 19 pandemic. Financial planning for the year idenlified some key challenges induding a 9.70/0 increase in Ihe National Living Wage and the need to double output (care hours) for the HorneFirst (HFRS) seTvi¢e from the 151 April 2023 for effectively the same level of income. Despite these challenges a surplus budget for unrestricted activity was sèl al £164k with significant plans pul in place early to address these challenges. However delivering the new HFRS Contract with its increased output and new seplice structure from Ihe start of the year proved far more challenging than anyone anticipated and in the first quarter there was a £325k deficit. This was partly down to intemal challenge$ around operational staff having to work in an enlirely different way but also extemal challenges as the lo¢al aLrthority and hospitals struggled wilh the new hospilal dis¢harge process being implement•d. This significant dèficit in the first quarter was due to the organisation havlng the same level of care staff compared to the previous year but with less income due to spot income not meeting the levels of block purchased care. Following the completion ol the April 2023 Management Accounts, which had a deficlt of £100k, a plan and projecl team was pul together to focus on recovery and move the charity back into a surplus position. That plan had thr88 area8 of focus: 1. Daily, and at times hourly. monitoring of the HFRS hours of re to maximise the income opportunity. This was achieved by November 2023 through thi5 diligenl over-sight and ensurin9 care in the field was delivered in an effective and efficient way. 2. The cutting of costs specifically focused on reducing office-based post in corporate teams. This led to headcount reduction of 13 positions delivering a monthly saving of £37k. In addition other cosl cutting was implemented including.. a. Reduction in the senior staffing co$t$. Redudion In travel and meeting costs to essential only. b. Reduced recruitment activity to essential field-based care staff only. 3. The third and final element of the plan relaled to cashflow management in the face of the deficit and redundancy costs to deliver the ¢ost savings. To achieve this, negotiations took place with Social Investment Bank (SIB) whom the charty already had a relalionship with followin9 Ihe merger with Crossroads Together in FY2023. SIB agreed to a new loan agreement to pay off the old loan and provide the charity with some cash investment to ensure cash reserves were available. The loan agreed was for £250k to be paid back over a 36-month period with the first year being interest only payments.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Wrth the implementation of these key strategies the charity started to see improvements in its monthly financial position from August 2023 wilh it getting out of deficit in November 2023. In the yeai Ihe charity generated £12.2m of income which was £1.4m less than the budget. Due to Ihe challenges in the first half of the year the Charity made a deficit of £610k which was £774k worse than the budgeted surplus of£164k. Income came in below budget for a number of reasons.. IAG (Hub) income came in £14k below budget due to the loss of the Adult Carers contract in Nottinghamshire. This loss was off-set to some degiee by the successful tender for the Young Careis contraci in the same area. Health projeds came in £1.3m below budget due to the challenges of delivering the additional hours required for the HFRS contract in the first half of the year. Traditional Homecare services ¢am8 In £315k below budget with hours of care down by 12°A due lo challenges or recruitmenl of care staff for these seprfices. Off-settlng some of Ihis under-performance was the recelpl of a cash donation from Ihe charity "Home From Home" in the Essex area of £233k. The Trustees of this charity have donated this cash lo Tuvida to help support and grow caie services in this area. Therefore this irKorne is Restricted with plan5 for it be used as agreed over Ihe following three years. Overall compared to the prevrou8 year income has reduced by 5%. Expenditure increased by 1.30A on the previous year, driven by the increased cost of wages and also the full year effecl of the merger with Crossroads Together from FY23 where in that year there was only six months ol costs. Overall staff ¢osts Increased by 1.4•/0 Compared to the previous year despile income reducing by 5•kn. The variance lo income movement is down to the changes with the HFRS contract and Ihe challenges of delivering 100gh increase with the same cost base. The staff cost increase 18 down lo wage increases to meet the NLW 9.7% Increase and the full year effect of the merger with Crossroads Together. Some of the cost increases are being off-set by Ihe redundancy programme executed in the year leading to a reduction of 13 positions. None staff related costs Increased by 17.150A, as expected in the budg8t, due to the full year effect of the merger with Crossroads Togelher in the previous year with property, mobile phones and IT costs all going up significantly. In summary, it was another incredibly challenging year. However. the organisation has been able to navigate these and other challenges of the ever-changing external global environment, in particular the health and social care sedor. The fvture of Health and Social care is still one of financial concern wilh costs and staffing pressures being a significant concem as they are largely outside of our control.. This will continue with the anticipaled budget cuts national and local govemment are havin9 to make. Despite the continuing financial challenges from the pandemic and the anticipated impact of spending cuts and increasing costs we have been able to continue to invest in carefs services and in our workforce. We remain committed to ensuring balance belween financially driven decision making and increased margins, set against decisions to invest in charitable seNices and rewarding our worklorce. We know we must remain vigilant and agile as the environment continues to change around us.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy At 31 March 2024 our general free reserves were £406k. being our unrestricted reserves less fixed assets. Our target level ol reserves 1$ £2,146k with a loleran¢e of + or- 50A which gives an acceptable band of £2,039k- £2.254k. This has beer) set by looking at our working capital requirements and the certainty of our income streams in the foreseeable future in order to ensure that we continue lo meet current obligations to beneficiaries. There is a shortfall of £1,740k behveen our target and actual general free reserves. We plan to make up the shorrfall by new contract income, expansion of income to private customers and cost reduclions. At 31 March 2024 our total funds held were £712k. of which £228k is restricted fvnds. Prlnclpal Funding Sour¢ Tuvida received funds from the below public sourr*s through service agreements or contracts Brid end Coun Council Buckin hamshire Count Councll Bu Coun Council arers Trust heshire West & Chester Council reater Nottin hamshire and Nottin Haverin Borou h Council Herefordshire Council Leicester Count Council London Borou h of Redbrid Marie Curie Metro olitan Borou h of Wrral Milton Ke nes Council NHS Cheshire & Merse side ICB NHS Greater Manchester ICB NHS North East ICB NHS Sussex ICB NHS Warrin ton ICB North Northam lonshire Council Northam tonshire CaTers Association Nottingham C. Council Nottinghamshire Count Council Readin Borou h Council Rochdale Coun Council Salford Coun Council Stock ort Council est Noriham tonshire Coun est Sussex Count Council Irral Council Oihers Below £1,000 26.022 52,412 137.231 0,146 162.647 185.337 2,231 160,000 ,259 27,676 9,951 13,750 5,665 128,207 114,280 101,941 7,640 1,081 1,467,648 23.200 01,597 ,735,401 5,529 4,702 156.082 3,482 32.681 70.476 184.693 ,062 ham ICB Council
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Management A Risk Management system was Pufchased and implernent8d in this financial yeaf. A review of Ihe risks was carried out, and rt was agreed the Risk Register would be overseen by the Slrat8gy & Culture Sub-committee, with reports going lo Board on an annual basis and other times when significant changes were required. Regular financial and operational reports to quarterly sub-committee and Board meetings include risks where relevant induding safeguarding and health & safety. Plans for future periods Our new three year Strategy includes a new vislon; everyone we support can, be seen, be heard and be provided for and our values, pioneering, uncompromising and compassionate, which are underpinned by four key pillars of work,. Our Seniices, Our People, Our Partnerships and our Business. We also developed the 'TuVida Wa- it is not what we do, it is how we do it. It's about our cutture, the way we work and the way we treat our people. Each of the four pillars have several priorities which will define our co programme$ of work for the next three years. Our SeNlces.' Aim lo provlde servlces of highest possible qualty, worklng to achieve Excellence for Carers quality mark and outstanding ratings through the Care Quality Commission. Ensure people who access our services can do so In the way they want, whether face to face, virtually, or di9ilally. This will be through the development of regional hubs and a¢cess lo innovative virtual carers seriices that shaped by th8 voice those receiving support. Enable the people we Support to infom us abotA the difference our seNices make to them through the development of an organisational wide impact framework. OurPeople.' Place the wellbeing of our people ahead of anything else - including an employee assistance programme, welfare fund, wellbeing groups and culture openness. Live and brealhe our values in eVehIng we do via a charter that 811 employees commll to as part of The Tuvida Way. Be led and guided by our people, creallng opportunilles for volce8 to be heard through a people engagement plan that includes a new forum that wlll help shape The Tuvida Way. Regularly review our offer of modern, competitive, flexible and coslaeffective terms and conditions, including a commitment to al least 50°A of any surplus generated going towards improving remuneration. Give people Ihe opportunity to continually develop in their roles and careers by having a leaming and development programme that embraces The Tuvida Way. Our Partnerships.. Ensure we don't focus on what we can get from partnerships... but what we can glve. By doing so we commst lo share our expertise, act as a critical friend to those who seek our support and give what we can. Only partner with those who share our values. Look for opportunities lo pilot new service delivery models, using technology and systems to enhance our delivery and effKiency. Take advantage of opportunities to leam. We will do this by engaging with those side and outside our sector, taking time to listen to leaders, innovators and those who share our passion for improving and developing sep4ices. Consider expanding,. whether through new contracts or merging services with other charities. We will only do the latter when we are invited to do so, and in the interests of safeguarding sep4ices, employees and geographical coverage.
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OurBusiness.' Ensure the finan¢l81 strategy Is continually reviewed and updated to ensure the right balance belween financial sustainability, long term viability and delivery of seplices to those who need them. AayS seek growth and new income streams, but only in the interest of financial sustainability. Re-invest in Ihe organisalion so we can continue lo provide services for carers and those they care for. Invest in systems and technology thal enhance our effectiveness and effiuency, aayS ensuring that our beneficiaries and employees are considered and supported Whe systems and technological advances affect them. Improve our ability to measure and forecast impact. We will develop Environmental, Social & Governance {ESG) plans Ihat become embedded in our practice and are evident and understood at the point of delivery by those using our seiCe$, and those deliverin9 them. Keep under review our governance practice and the monitoring and management of risk. We will do so using the risk management system, improved reporting as well as recording our decAsion-making protocol. During Au9USt 2024 Nottinghamshire ICB made the decision lo withdraw funding from hospital discharge services across the area. For Tuvida, this meant an immediate reduction in income of ¢irca £600k for this financial year. We were initially given 30 days notice of the withdrawal of this funding, which meant we had lo act fasl. Following a cordInated campaign to influence declslon makers, we were able to seek an extenslon ol Ihls funding initially through until Ihe end of November 2024. with the further possibility of additional income through until Mar¢h 2025, which gave us time to respond lo the situation, as well as limiting our income reduction in year to. As a resull to this reduction in income during the year the charity pul into a¢lion its contingency plans that have been developed to respond to such a siluation. This resulted in an organisation wide reslructure, including significant back office and senior management redundancles. The restrudure enabled a clear refocus on operational service delivery with limited impact on front line services. The deficit in FY24 ensured Ihat we had robust plans in place lo respond to financial challenges should they arise. and the sudden loss of income in August 2024 was responded to promptly, and the actions taken has ensured lorecasls have been prepared which indicate the charlty can conlinue as a golng concern with a focus on rebuilding reserve levels over lime. These forecasts have also taken into account the increase in Employers Nl conlribulions announced in the November 24 budget with actlon already being laken lo Ilaise with all funders around Ihe need for increased funding from April 2025. Structur•. govemanc• and managom•nt The organisation is a charitable Company Limited by guarantee incorporated on 21 November 1995, and regislered as a charity on 22 December 1995. The governing documents are its memorandum and articles of association as amended by special resolution dated 4 November 2020. The trustees, who are also the directors for the purpose of company law, and who served during Ihe year and up to the date of signature of the financial statements were.. Mrs E Convery Mrs K Cook MrDTYLiu Mrs A Roberts l¢e-ChaIr) Mi N Stringfellow ITreasurer) Mr l TuTnbull {Chair) {Appoinled 10 May 2023)
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The charity recruits Trustees following the guidance set by the National Council for Voluntary Organisations and Charity Cornmission. The first stage of iecruiting Trustees is to identify any key areas where specific skills and experiences would be benèficial to the organisation. A skills audit of the existing Trustees is rArried out to identrfy any gaps. We also consider the values of potential candidales as important, so they align with the values of the charily and the culture we continue to develop. We are also keen to consider the lrfe skills of potential candidates in addition lo their professional experience. Additional training is offered to our trustees when it Is appropriate, and we review our Board development programme each year. Due to Ihe sep4ices we provide. all our Trustees attend compulsory safeguarding training with our senior trainer and our safeguarding lead. Mrs E Convery receives additional training and support. We regularly communicale relevant articles, workshops and events lo our trustees lo keep Ihem informed and updated. Annually our Chair conducts an appraisal with each trustee to review their role, the committees they participate in. consideration of length of semce, additional training and support they may be interested in and to seek their views as to the efficacy of the operation of the Board and wider govemance structures and processes. The outcome of Ihe8e is reported to the full Board and confirms trustee participation in the sub-committee structure and other areas of the organisation e.g. approving welfare fund grants for staff. Tuvida 15 affiliated to Carers Trugl, Ouf national membership organisalion and works within the framework of national policies. procedures, and standards to ensure a high-quality seNice to carers and Ihe people they care for. Tuvida is regulated by the Cafe Quality Commission for our regulated care services as well as complw'ng with the standards, laws and regulations for all other mandalory requirements, e.g. GDPR, Health and Safety, Charity and Company law. Declslon Making The Board of truslees provide strategic governance and decisioTr making for the charity's operations supporting Ihe Chlef Executive, her Chief Officers and senior leadersThe Board of trustees provide slraleglc governance and decision rnaking for the charity's operations supporting the Chief Execulive, her Chief Officers and senior leadershlp team lo effedively cary out day to day operational activities. During this year, following advice from our company lawyer, the charily introduced a 'decision making matrix, for significant decisions taken by the Board. We used this fviice during the year related lo the under performance of our large HFRS conlfacl and found it lo be useful and enhances the minutes where significant decisions are made. The full Board meets quarterly with a robust sub- committee structure in place lo deal with detailed discussions and decisions belween Board Meetings. The terms of reference for these sU¢0mMitteeS are reviewed on an annual basis. All trustees give their time freely and no Iiuslee remuneration was paid in the year. Key Personnel Remuneratlon Pollcy Salary reviews are carried out each year by the Chief Officer group and reported to the Board. However, a review does not guarantee a pay rise and there is no conlradual right to an anr)ual pay rise. We always aim lo provide a pay rise across the staff teams rf the budget allows us to do so. Staff are informed of the revlew in wrltlng. 10-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Communi¢•lion with Employ••8 and Volunt••r8 Providing employees and volunt88Ks syst8malically with info or matters of concem to them as employees and volunteers. We continue with our monthly newsletters lo staff, as well as additional newsletters on specialist topics. We upload information and encourage staff lo use our staff intranet. We also celebrate cullural and religious events throughout the year. On a regular basls, we mmunICate via email and text to update staff, clrculale Importanl Infomiakn'on and lo1 managers communicate specific information of relevance to their local services and dients. Consultlng 8mploy8es or fh8ir representalives and Voluntee on a r8gul8r basis so their views can be considered in making decisions likely lo affecl Iheirinterests. Every year we carry out a staff survey which includes a range of issues Including communications, resources to do their job. training and development, support provided and feedback on things we do well as well as areas we could improve on. On a quarterly basis, we hold staff meellngs for our field-based teams, also providing an opportunlly for consultation and feedback on previous issues and idea6 raised. Staff can also email our Communications inbox with any ideaslsuggeslions. This year we also engaged wlth our staff speryfically for our new strategy, We held several weblnars, face lo face meetings and circulated an on-line survey. Encour8ging involvement in the company s perfomiance through share scheme/others AS a charity, we don't operate a share scheme. Howevei, we do operate a scheme to encourage staft to 'introduce a friend, lo work lor us and for this they receive a small payment if Ihe friend 1$ suc¢8ssfully recruited. This scheme encourages staff lo be ambassadors for the organisation and recommend other great people lo work for us. 11 also helps with our ¢ruitMent which is a sector wide challenge for all health and social care organisations. Our experience and other evidence show that 'refer a friend, or similar schemes are the most successful recruilmenl tool and provides committed and loyal staff. As promised in Ihls year we introduced a long service anniversary recognition and reward scheme for loyal and committed staff. Staff are recognised in our staff newsletter and receive a gift voucher on their &year anniversary and every five years after that, All staff are re¢ognised in Ihe new51etter lor their length of seniice in the month they jolned. Achievlng common awareness on part or all the financial and economic factors aff8cling performance of the company Every year. the Chief Officers produce an annual business plan coupled with our budget story which is approved by the Trustees. The budget story highlights the key financial elements of our plan for the yeaf that considers all the factors that positively and negatively affect performance. As the budget story is produced. it is discussed and shared wrth our wider teams to enable greater awareness of the environment in which we operate. Throughoul the year. there are regular reviews of the performance against this budget story with regular updates being made when ¢ircumstances change. We produce monthly management accounts shared with our Trustees and senior leadership team. Through our regular leam meelings coupled with KPI perfomance, Ihese are regularly discussed with our leams including input into r8forecasling based on local and national economic faclors. Disabled Employe Applications for employment by disabled persons are always fully and fairly considered, bearing in mind the aptitude and ability of the applicant concemed and the role they are applying for. The large proportion of our field-based team roles involve assisting individuals with moving and handling, personal care and other activities which may not be possible for some disabilities lo perform. 11
EAST MIDLANDS CROSSROADS4ARING FOR CARERS TRADING AS TUVIDA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In the event of members of staff becoming disabled, every effort is made to ensure their employment within the charity continues and that appropriate training andlor resourceslequipment are provided. It continues to be the policy of the charity that training, career development and promotion of disabled persons should as far as it is feasible, identical lo Ihat of other employees. We also ensure Ihal our managers have awareness training and the skills to provide appropriate support and guidance to any disabled employee they line manage. Audltor In accordance with the company's articles, a resoluts'on proposing that Rogers Spencer be reappointed as auditor of Ihe Company will be put al a General Meeting. Dls¢108ure of Information to auditor Each of the trustees has confirmed that Ihere Is no infomation of whlch they are aware which is relevant lo the audit, bul of which the auditor is unaware. They have further confirmed that Ihey have taken appropriate steps lo identfy such relevant infom)ation and to eslablish that the auditor is aware of such information. The twslees, report was approved by the Board of Tnjstees. Mr l Turnbull (Chair) Tru$te• Oate.. 1811212024 12-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of East Midlands Crossroads-caring For Carers for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generally Apted Accounting Pracli¢e). Company law requires the trustees to prepare financial statements for each finan¢ial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistenlly., obseNe the methods and principles in the Charities SORP, make jtjdgements and estimates that ar8 reasonable and prudent.. slate whelher applicable UK Accounting Standards have been followed, subjecl to any material departures disclosed and explained in the financial statements., and prepare the financial slalements on the golng concern basis unless it is InappropTlale to presume that the charity will continue in operation. The trustees are sponsible for keeping adequate accounting records that dlsclose wlth reasonable apxura¢y at any tlrne the financial position of the charity and enable them lo ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charity and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularitie5. 13-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EAST MIDLANDS CROSSROADS4ARING FOR CARERS Opinion We have audited the financial statements of Easl Midlands Crossroads-caring For Carers (Ihe 'charty') for the year ended 31 Mar¢h 2024 which comprise the statement of finar)cial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is appli&ible law and United Kingdom Accounting Standards. induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Imland (United Kingdom Generally Accepted Accounting Practice). In our oplnion, Ihe financial statement$- give a true and fair view of the state of the charitable company's affairs as al 31 March 2024 and of its incoming resources and application of resources, Including its income and expenditure, for the year then ended; have been properly prepared in accordance wlth Unlted Kingdom Generally Accepted Accounting Pracli¢e,' and have been prepared in accordance with Ihe requiremenls ol the Companies Act 2006. Ba81s for oplnlon We conducted our audit in accordance wlth Inlemalional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibililies lor the audit or the financi81 statem8nls section of our report. We are independent of the Charity in accordance with the ethical requiremenls 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 acrdance wllh these requlrements. We belleve that Ihe audit evidence we have obtained is sufficient and appropriate to provide a basis loi our opinion. Concluslons relating to going concern In auditing Ihe financial 51atements, we have ¢onduded that the trustees, use of the going concern basis of accountin9 in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling lo events or conditions that. individually or colledively, may rASt significant doubt on Ihe charity's ability to continue as a going concern for a period of at least hvelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and th8 responsibilrties of the trustees with r8SP8Ct to golng concern are described in the relevant sections of this report. Other Inforniatlon The other information comprises Ihe information induded In the annual report other than the financial slalement$ and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on Ihe 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. Our responsibility is lo read the other infomalion and, in doing so. Consider whether the olher information is materially inconsistent with the financial statemenls or our knowledge obtained in the course of the audit, or othevwise appears to be malerially misstated. If we identify such material inconsistencies or apparent malerial misstatem8nts, we are required lo determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude thal there is a material misslalement of this olher informalion, we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Aet 2006 In our opinion, based on the work undertaken in Ihe course of our audit.. the information given in the Irust8es' report for the financial year for which the finanaal statements are prepared. which includes Ihe directors. report prepared for Ihe purposes of company law, is consistent with the financial statements.. and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 14-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EAST MIDLANDS CROSSROADS.CARING FOR CARERS Matters on which w• •re requlred to report by •xc•ptlon In the light of the knowledge and understanding of the charity and its environment oblained in the course of the audil, we have not identified malerial misstatements in the direclors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companie$ Act 2006 requires us lo report to you if. in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or the financlal statements are not in a9reement with the accounllng records and returns: or certain disdosures of Irustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit,. or the truslees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the truslaes. report and Irom the requirement lo prepare a strategic report. R•8ponslbllities of tru•to08 As explained more fully in the statement of trustees, responsibilities, the Iru5tees, who are also the dlrèctors of the charity for the purpose of company law, are responsible for Ihe preparation of the financial slatements and for being sa115fied that they give a true and fair view, and for such intemal control as the trustees determine 15 necessary to enable the preparation of financial statements that are free from matèrial mlsslalemenl, whether due to fraud or error, In preparing the financial slalements, the trustees are responsible for assesslng the Charlty's ability lo continue as a going concern, disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic altemative but to do so. Auditorfs respon$lbllltles for the audit of the financial statements Our objectives are to obtain Teasonable assurance about whether the financial statements as a whole a free from material misstatement, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance Is a high level of assuran bul is not a guarantee that an audit ¢ondu¢led in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misslalements can arise fiom fraud or error and are considered material if, individually or in Ihe aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. The extent to whlch our procedures are capable of detectin9 irregularities, including fraud, is detailed below. 15-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EAST MIDLANDS CROSSROADS-CARING FOR CARERS The extent to which the audit was considered Capable of detecting Irregularities including fraud Our approach to idenlifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance wilh laws and regulations. was as follows.. The engagement partner ensured that the engagement team collectively had the appropriate compelence, capabilities and skills to idenlify or recognise non-compliance with applicable laws and regulations,. We identified the laws and regulations applicable to the group through discussions with trustees and other management. and from our knowledge and experience of ihe charity sedor and grant providers.. We focused on specific laws and regulations which we consldered may have a direct material effed on the financial statements or the operations of the charity. including the Companies Act 2006, Charrties Act 2011, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety 18gislalion: We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence,. and Identified laws and r8Gulatlons were communicated within the audit team regularfy and the team remalned alert to instances of non-compliance throughoul the audit. We assessed the susceptibility of the charily's financial statements to material misstatement, including obtaining an understanding of how fraud mighl occur. by.. Making enquiries of management a8 to where they considered there was su$¢eplibilily to fraud, Iheir knowledge of actual, suspected 8nd alleged fraud., Considering the inlernal controls in place to mitigate risks of fraud and non-compliance with laws and regulalions., and Underslanding the design of the charity's remuneration policles. To address the risk of fraud through management bias and override of controls, we.. Performed analytical procedures lo identify any unusual or unexpected relationships: Tested journal entries to idenlify unusual transactions; Assessed whether judgements and assumplions made in determlning the accounting estimates set out in note 2 were indicative of potential bias,. and Investigated the rationale behind signifipAnt or unusual transactions. In response to the risk of irregularilies and non-compliance with laws and regulalions, we designed procedures which included, but were not limited to-. Agreelng financial statement disclosur68 to underlying SUPPOrting documenlalion., Reading the minutes of meetings of those Charged with govemance; Enquiring of management as to actual and potential liligalion and daims: and Reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance wilh laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal ¢orrespondence, if any. Material misstatements that arise due to fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reportin9 Council's website at.. https'.11 VM4V.frc.org.uklaudilorsresponsibilities. This description forms part of our auditols report. 16-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EAST MIDLANDS CROSSROADS4ARING FOR CARERS Use of our report This report is made solely to the charitable company's members. as a body, in a¢¢ordance wlth Chapter 3 of Part 16 of the Companies Ad 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fvllest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and Ihe charitable company's members as a body. for our audit work, for this report, or for the opinions we have fomed. Melvin Bailey FCCA DChA Isonior Statutory Auditor for and on behalf of Rog•rn Sp•n¢•r Ig/12/24 Chartered Accountants Statulory Auditor Newstead House Pelham Road Nottingham NG5 1AP 17-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestri¢ted Re3trlct•d fund$ funds 2024 2024 Total Unrnstrfctsd Ro•tri¢t•d fund8 funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 81,915 11,841,882 6,509 235,434 317.349 11,841,882 6,509 240,486 12,609,022 3,562 240.486 12,609,022 3,562 Total income 11,930,306 235,434 12.165,740 12.853,070 12,853.070 Expondltur• on: Charitable activitles 12,683,299 112,909 12,776,208 12,606,681 12,606,681 Totsl expendttur• 12,663.299 112.909 12,776,208 12.606.681 12,606,681 N¢t Incom•ll•xp•nditur•) and movement In funds {732,993) 122,525 (610.468) 246.389 246,389 R•conclllatlon of fund•: Fund balances al 1 April 2023 1,217,423 105,005 1.322,428 971,034 105,005 1,076,039 Fund balancès at 31 March 2024 484,430 227,530 711,960 1.217,423 105.005 1,322.428 The statemenl of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure derive fiom continuing activities. The notes on pages 21 to 35 form part of these financlal statements. 18-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Not•$ Fixed assets Tangible assets 13 78,770 96,492 Current a88ets Debtors Cash at bank and in hand 14 1,499,956 122,951 1,392.318 884,229 1,622,907 2.276,545 Credltors: amounts falling due withln one year (772,188) (1,050,809) Not current assets 850,719 1,225,936 Total a$$•ts I9 current liabilitiei 929.489 1.322.428 Cmdltors: amounts falllng du• after more than one year 17 (217,529) N•t a•80ts 711,960 1,322,428 The funds of the charity Restrlded income funds UnreslTicled funds 19 20 227.530 484,430 105,005 1,217,423 711,960 1,322,428 The notes on pages 21 to 35 form part of these financlal statements. 1811212024 The financial stal•menls were approved by the Iruslees on ..................... MT N Strlngfellow (Treasurer) Trustee Mi l Tumbull {Chair) Trustee Company registratlon number 03128681 (England and Wales) 19-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from oporating actlvltles Cash (ab50rbed by)Igenerated from operations 29 1915,387) 117,816 Investing activlti•8 Purchase of tangible fixed assets Investment income received (14,806> 6,509 {61,708) 3,562 Net cash used In Inv•stlng acllvltlè• (8,297) (58.146) Financing activities Proceeds of new bank loans Repaym8nl of bank loans 236,805 174,399) 104,347 {9,253) Net cash generatod from financlng activities 162,406 95,094 Net {decrease)lin¢r•ase in cash and cash •quivalents (761,278) 154,764 Cash and cash equivalents at beglnnlng ofyear 884,229 729.485 Cash and cash equivalents at end of year 122.951 884,229 -20-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢counting policies Ch•rlty Infomiation East Midlands Crossroads-caring For Carers is a private company lirniled by guarantee incorporated in England and Wales. The registered offi¢e is 19 Pelham Road, Nottingham, NG5 1AP. 1.1 A¢counting convention The financial statements have been prepared in a¢¢ordance with the charity's governing document. the Companies Act 2006 and 'Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effedive 1 January 2019)" The charity is a Publlc Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounls in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern During Au9usI 2024 Nottinghamshire ICB made the decision lo wilhdraw funding from hospital discharge seNices across the area. For Tuvida. this meant an immediate reduction in income of circa £600k for this financlal year, We were Initially glven 30 days nolice of the wllhdrawal of Ihis fundlng, whlch meanl we had to act fast. Following a co-ordinated campaign to influence decision makers, w• were able lo seek an extension of thi$ funding inrtially through until the end of November 2024. wrth the further possibility of additional income through until March 2025, which gave us lime lo respond to the situation, as well as limitin9 our income dudion in year to. As a result to this reduction in inrne durlng the year the charity put into action its contingency plans Ihal have been developed to respond lo such a situation. This resulted in an organisation wide restw¢ture, including significant back office and senior management redundancies. The restructure enabled a clear refo¢u$ on operational service delivery with limited Impact on front line services. The deficit in FY24 ensured that we had robust plans in place to respond to financial challenges should they arise, and the sudden loss of income in August 2024 was responded to promptly, and the aclions taken has ensured forecasts have been prepared whlch indicate Ihe charity can continue a$ a going concern with focus on rebuildin9 reserve levels over time. These forecasts have also taken into account Ihe increase in Employers Nl conliibulions announced in the November 24 budget with action already being taken lo liaise wrth all funders around the need for ine3$ed funding from April 2025. 1.3 Charltable fund$ Unrestricted fvnds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside al the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are sel out in the notes to the financial statements. Reslricted funds are subject to specffjic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 21
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnuedl 1.4 Income Income is recognised when the charity is legally entitled toll after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Income from govemment and other grants. whether 'capllal' grants or 'revenue' grants, Is recognised when the charitable wmpany has entrtlemenl to the funds, any performance conditions attached lo the grants have been met, it is probable that the income will be received and the amounl can be measured reliably and is not deferred. Intere51 on funds held on deposit 15 included when receivable and the arnount can be measured reliably by the charitable company- this is nomially upon notification of Ihe interest paid or payable by the Bank. 1.5 Expgnditur• Expenditure is recognised once thera is a legal or constructive obligalion to make a payment to a third party, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is ¢lassified under the following a¢tivily headings. Experbdilure on charitable activities includes the costs of its activities and services for beneficiaries it includes both costs Ihat can be dire¢tly allocated lo such activities and those wsls of an indirect nalure necessary to support them. Olher expendilure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Allo¢atlon of aupport co•t• Support costs are those that assist the work of the charitable company bul do not direclly represent thar4table actibities and include office cosls. governan¢e cosls. administrative payroll costs. They are incurred directly in support of expendilure on the objects of the charity and include project management carried out at Headquart8rs. Where support cosls ¢annot be directly attributed lo headlngs, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with the use ol the sources. Overheads have been allocated pro rata based on staff time. 1.6 T•ngiblo fixed assèts Tangible fixed assets are Initial measured at C05t and subsequently measured at cost or valualion. net of depreciation and any impairment losses.. Depreciation is recognised so as lo write off the cost or valuation of assets less Iheir residual values over their useful lives on the following bases: Leasehold improvements Fixtures and fittings Computers Motor vehicles 12.5•h straight Ilne 20°A straight line 33.30A straight line 25% straighl line The gain or loss arising on the disposal of an asset is determined as the difference bebNeen the sal8 proceed$ and the carrying value of the asset, and is recognised in the statement of financial activities. Individual assets costing less than £500 are not generally ¢apitalised. -22-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢counting policies (Continued) 1.7 Impalrment of fixed assets At each reporting end dale, the chanty reviews the carrying amounts of its tangible assets to determine whether there is any indication that Ihose assets have suffered an impairment loss. If any such indication exisls, the recoverable amount of the asset is ests'rnated in order lo detemiine the extent of the impaimient loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposrts held at call with banks, other short-term liquid Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilitles. 1.9 Flnanclal instruments The charity has elected to apply the provisions of Sedlon 11 'Baslc Flnanclal Instruments, and Section 12 'Other Financial Inslrumenls Issues, of FRS 102 to all of Its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charty becomes party to the contradual provisions of the instrument. Flnancial assets and liabilities are offsel, wlth the net amounls presented in the financial s18tements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Bas1¢ Iln•n¢lal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interesl method unless the arrangement Constitutes a financing transaction, where the transaction is measured at Ihe present value of the future receipts discounled at a market rale of interest. Financial assets Classified as receivable with•n one year are not amortised. Basic financial Ilabllltle$ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unle8$ the arrangement constilules a financing transaction. where the debt instrument is measured at the presenl value of the future payments discounted at a market ral8 of inleresl. Financial liabilities classified as payable within one year are not amortised. Debt instrumenls are subsequently carried at amortised cost, using the effective inleresl rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, Ihey a presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The st of any unused holiday entitlement is recognised in Ihe period in which the employee's senii¢es a received. Tennination benefrts are recognised immediately as an expense when the charity is demonstrably commrtted to tenninate the employment of an employee or to provide termination benefits. -23-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies IContlnu•d) 1.11 Pensions The pension costs charged in the financial statement5 represent the contribution payable by the charitable company during the year and are apportloned pro•f8la across activities based on staff lime. Critical accounting estimates and ludgements In Ihe application of Ihe charity's ac¢ounling policies, the trustees are required lo make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimat8S. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimale is rewsed where the revision affects only that period, or In the period of ltte revision and future periods where Ihe revlsion affects both current and future periods. Donations and legacle$ Unr••trlcted Ro8trlcted funds funds Tolal Unreslri¢ted funds 2024 2024 2024 2023 Donations and gifts 81,915 235,434 317,349 240,486 Donatlons and gifts Donalions and legacies Donations on merger Grant income 75,815 2.000 233,434 77,815 233,434 6,100 63,946 176,540 6,100 81,915 235,434 317,349 240,486 Charltabl• activities R•gulalgd Caro 2024 C•r•rn Hub Totsl 2024 R•gulal•d Car•rJ Hub Totsi 2023 2024 2023 2023 Direct billing Spot contracts Seprfi¢e agreements Other income 2,039,568 2,039,568 2,047,070 2,047,070 873,085 873,085 906,267 906,267 7,814,193 1,089.751 8,903,944 8,216.985 1,305,115 9.522,100 25.285 25,285 133.585 133,585 10,752,131 1,089,751 11,841,882 11,303,907 1,305,115 12,609,022 -24-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrostrfct•d Unr•stri¢tsd funds funds 2024 2023 Interest receivable 6,509 3,562 -25-
EAST MIDLANDS CROSSROADSQARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS ICONTINUEO) FOR THE YEAR ENDED 31 MARCH 2024 Exp•ndMurn on ¢h•rftsbl• •¢tlvltt•• R•gul•t•d C•r•rn Hub car• 2024 Oth•r Tot•1 Regul•t•d C•rw• Hub ¢•r• CXh•r Totsl 2024 2024 2024 202J 2023 2023 Dlr•¢t ¢o•t• Stoff Gosts Mobilo ifrlephone$ C8r• os$l8ianls reuullmenl •xp8n5•1 Car• 08si$t8nl$ travel expens88 C8re o$$l$tani$ protective dolhlng lalams D•y ¢enlr• ¢oil$ Hub dlr•¢l ¢osls Tralnlng S COnrenl R*¥ing fijnds 8.494.933 186.887 77.287 555.593 15.789 10.339 8,494,933 218,458 77,287 S65,593 15,769 10,339 178.805 34.754 218 6.376.918 151.717 90.330 578.822 41.467 10,353 8,376,918 184.739 90.330 578,622 41.487 10,353 71,803 28.501 25,431 7,146 28.876 178.805 71,3 34,754 28,501 218 308 7,375,342 18S.165 25.617 7.586.154 7,277,928 79,049 26,182 7.383,159 Shir• ol •upport and gtsv•m•n¢• ¢o•ts IM• not• 71 Support Govemanc4J 2,210,117 652,Q43 2,248,726 5,110.886 79,168 79.108 2.117,557 782.939 2,201.577 5.102.073 121,449 121.449 9,585,459 837,208 2,353,541 12,776,208 9,395.485 881.988 2,349,208 12.808.681 An•by•l• by fund Vn¥•$iri¢ted fundi R•$irided fund$ 9,472.550 I12.9 837.208 2.353.541 12.663.299 112,909 9,39S,48S 881,989 2,349,208 12,606,8B1 9,5,459 837.208 2.353.541 12,776,208 9.395.485 881.988 2.349.208 12.808.681
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support Costs allocated to actlvltle$ 2024 2023 Staff costs Depreciation Admin travel Establishment Computer sofvare Consultants costs Marketing Bad debts Admin reGruitment expenses Other costs Governance costs 3,861,477 32.529 156,851 463.555 378.250 3,773,053 52.128 159.747 401,333 252,770 123.919 9.200 6,098 14,638 272.960 157.678 3,040 {3.0211 4.755 165,145 127.473 5,190,054 5,223,522 Analysèd betr4•0n: Regulated care Carers Hub Other 2,210,117 852.043 2,327,894 2,117.557 782.939 2,323.026 5,190,054 5,223,522 2024 2023 Governance costs comprise: Staff Costs Audil fees Legal and professional Bank charges Loan intere51 48,305 15,613 36.188 18,301 9,066 36.229 15,793 84,818 17.557 3.281 127,473 157,678 Net movement in funds 2024 2023 The net movement in funds is stated after chargin91{creditlng): Fees payable for the audil of the charity's financial statements Depreciation of owned tangible fixed assels 15.613 32.529 15,793 52,128 -27-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Auditorfs remuneration Fees payable to Ihe rharty's auditor and associates.. 2024 2023 For audit servi¢es Audrt of the financial statemenls of Ihe ¢harity 15,613 15.793 10 TNstee8 None of Ihe trustees (or any persons connected with them) received any remuneration or benefrts from the charity during the year. 11 Employ••s The aveiage number of employees during the year was.. 2024 Number 2023 Number Care support workers Support staff 376 126 435 138 Total 502 571 Employment costs 2024 2023 Wages and salaries Social security costs Penslon costs Temiinalion payments Apprenticeship levy 9,139,275 753.032 199,010 85,734 29.004 8,976,697 746,222 193,292 100,744 45,965 10,206,055 10.062.920 -28-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employee$ (Continued) The number of employees whose annual remuneration was more than £60,000 is as follows: 2024 Numb¢r 2023 Numbèr 60,000- 69,999 70.000- 79.999 80,000- 89.999 90,000- 99,999 100,000- 109,999 110,000- 119.999 120,000- 129,999 130,000- 139,999 R•munèratlon ol key managom•nt Pornonnel The remuneration of key management personnel is as follows: 2024 2023 Aggregate ¢ompensation 849,966 614.556 During Ihe year the charity operated a defined contrlbutlon penslon scheme in respect of 294 employees (2023: 313 employees). 12 T•x•tion The charlty is exempt from laxalion on its actlvltie5 because all its income is applied for charitable purposes. -29-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble flxed as8et8 Lèasèhold Flxlur•s and Improvomènts flttlngs Comput•Ys Motor v•hlcle$ Total Cost At 1 April 2023 Additions 111,064 284,106 9,437 301,773 5,369 2,625 699,568 14,806 At 31 March 2024 111,064 293,543 307,142 2,825 714,374 Deprnclatlon and Impaimiont At 1 April 2023 Depredallon charged In the year 74.421 8,396 262,709 2,580 263,320 21.553 2,625 803,075 32,529 At 31 March 2024 82,817 265,289 284,873 2,625 635,604 Carrylng amount Al 31 March 2024 28,247 28.254 22.269 78,770 At 31 March 2023 36.643 21.396 38,453 96,492 14 Debtorn 2024 2023 Amounts falllng due within one year: Trade debtors Other debtors Prepayments and accrued income 1,098.744 253,157 148,055 1,288,675 103,641 1,499.956 1,392,318 16 Loan• and overdrafts 2024 2023 Bank loans 257,500 95,094 Payable within one year Payable after one year 39,971 217,529 95,094 -30-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Credltors: amounts falling due wlthin one year 2024 2023 Notes Bank loans Other taxation and social securty Deferred income Trade Cfedilors Other Creditors Accruals 15 39,971 181,191 37,563 236.292 157,723 119,448 95.094 191.453 83,105 174.360 107.243 399,354 772,188 1,050.609 17 Creditors: amounts fa115ng due after more than one year 2024 2023 Not¢$ 8ank loans 15 217,529 18 Delerrnd Income 2024 2023 Other deferr•d income 37,563 83.105 Deferred income is included in the financial statements as follows: 2024 2023 Deferred income Is Included within-. Current liabilities 37.563 83,105 Movements in the year.. Deferred income a11 April 2023 Released from previous periods Resources deferred in the year 83,105 (83,105) 37,563 101.175 (101,175) 83.105 Deferred income at 31 March 2024 37.563 83,105 31
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restricted funds The restricted funds of the ¢harlty comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2023 Incoming Resources At 31 March r•80urce• •xpended 2024 Wheatley Donalion R8SPlte Care Relief- Carers of Demenlia Clients Home From Home 105,005 (105,005) 2,000 233.434 (2,000) (5,904) 227,530 105,005 235,434 (112,909) 227,530 Pr•vlou$ year: At 1 Aprll 2022 Incomlng Resource8 At 31 Mar¢h resources oxpend•d 2023 Wheatley donation 105,005 105,005 Wheatle Donation - Le received to be a lied in hewo hin area During Ihe financial year ending 31 March 2024, this reslrl¢ted fund ha8 been spent in full. The fund has been ulilised to support care sepiices in Ihe West Sussex afea. Res ite Care Relief - Carers of Dementia Clien A donallon of £2,000 was rèceived during the financial year from the Chèsl8r Llons Club. The donation was received to support respite for Carers of dementia clients. The monies have been ulilised In fijll during the financial year. om Following a merger with Home From Home they donated their cash in the bank of £233,434. The lunds are to support the development ol services 10 5UPPOrt carers and people wilh care needs ID Havering and surrounding areas where the majority of beneficiaries are from the London Borough of Havering. During the last quarter of the year £5,904 was used of these funds in Ihe support care services in that area. -32-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Unrestricted funds The unrestricted funds of Ihe charity Comprise Ihe unexpended balances of donations and granls which are not subject to specific condrtions by donois and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the tmstees for specffic purposes. At 1 Aprfl 2023 Ineomlng R•$our¢•• At 31 March resources expended 2024 Building improvements General funds 36.088 1,181.335 {28,966) 11.930,308 <12,636,333) 9.122 475.308 1,217.423 11,930,306 (12,663,299) 484.430 Prevlou8 year: At l Aprll 2022 In¢oming resources Resources At 31 March expended 2023 Building improvements Crossroads Care- HCY Portugal investment to develop a partnership io support carers General funds 42.097 57,250 (6,009) {57,250) 36,088 4,075 867.612 (4,075) 12,853.070 (12,539,34n 1,181,335 971,034 12.853,070 (12,606,681) 1,217.423 ulldin Durlng ihe financial year, expenditure totalling £26,966 has been $pent on building improvements and renovations for dilapidations following the closure of the Reading office. 21 Analysis of net a88ets between funds Unre8trlcted funds 2024 Re$tri¢ted funds 2024 Total 2024 At 31 March 2024: Tangible assels Current asselsl(liabilities) Long term liabilities 78,770 623,189 (217,529) 78,770 850,719 (217,529) 227,530 484,430 227,530 711,960 -33-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of net assets beiween funds (Continued) Unre$trl¢t•d funds 2023 R•$tri¢t•d funds 2023 Totsl 2023 At 31 March 2023: Tangible assets Current assetsl(liabililies) 98,492 1.120,931 96,492 1,225.936 105.005 1.217,423 105,005 1,322,428 22 Operatlng lease commilments Le$••• At the reporting end date the charity had oulslandlng commitments for future mlnimum lease payments under non-cancellable operating leases. which fall due as follows.. 2024 2023 Within one year Beeen two and five years In over five years 165.290 64,722 3,948 214.816 118,323 233,960 333,139 23 Rel•tsd party tr•nsactlon8 The following relalives of Directors received employee benefits during the year. This is permitted under paragraph 5.4 of the Articles of Association. The Chair of Trustees Is marrled lo the Head of Finance. Employee benefils for the Head of Finance lor the year amounted lo £51.165 (2023.. £50,648>. 24 Affillat•d Organl$•tlon8 The charity is affilialed to Carers Trust, a network of Charities wrth similar objectives. The address for Carers Trust is 32-36 Lowman Street, London. SE1 QEH. 25 Company Llmlted by Guarant0• Each of the members of the company are liable to contribute to the assets of the charity in the event of the Charity being wound up an amount not exceeding £1. Al the dale of these accounls there were 5 guarantee members. -34-
EAST MIDLANDS CROSSROADS-CARING FOR CARERS TRADING AS TUVIDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Inve8tm•nt Upon the completion of the managed takeover of Carers Trust Thames, East Midlands Crossroads - Caring for Carers acquired 500A of the share capital of MK Communty Shop (Kingslon) Limited. This is a private cornpany limited by shares, incorporated In England and Wales. The company number is 02799626 and the registered office address is 2 Burners Lane, Kiln Farm, Mitton Keynes, Bucks, MK113HB. A gift aid donation of £21.000 {2023.' £12,500) has been provided as a debtor in these financial statements. This represents the Share of profits owed lo East Midlands Crossroads Caring for Carers al 3181 March 2024. 27 Anaty$ls of changes In n•t debt At 1 Aprll 2023 ¢Mh flow•At 31 Alar¢h 2024 Cash at bank and In hand 884,229 (761,278} 122,951 Loans falling due within one year Loans falling due after more than one year (95,094) 55,123 (217.529) {39,971) (217,529) 789,135 1923,684) (134.549) 28 Charlty Merger On 16 March 2024, the asse18 Home from Home were merged into the charity. The net a88ets amounted to £233.434 and has been presented in income from donations and legacieB (note 31. 29 C4•h gen•ratsd from operatlons 2024 2023 (Deficit)Isurpus for the year (610,468) 246,389 Adjuslrnents for-. Investment income cOgnised in statement of financial activities Depreciation and impairment of tangible fixed assets {8,509) 32,528 {3,562) 52,128 Movements in working caprtal.. (Increase) in deblors (Decrease)lincrease in creditor$ (Decrease) in deferred income (107.640) (177,756) (45,542) (496,422) 337,353 <18.070) Cash labsorbed by)Igenerated from operatlon8 (915.387) 117,816 -35-