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2023-03-31-accounts

Company registration number: 3140903 Charity registration number: 1053246

CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

ENHANCEABLE

CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents Page
Charity reference and administrative details 1
Trustees' Annual Report including Directors' Report and 2.1 to 2.12
Strategic Report
Independent Auditor's Report 3.1 to 3.4
Statement of Financial Activities 4
Balance Sheet 5
Statement of Cash Flows 6
Notes to the Financial Statements 7(a) to 7(k)
ENHANCEABLE
OFFICERS, PROFESSIONAL ADVISERS AND BANKERS
CHARITY REGISTRATION NUMBER 1053246
COMPANY REGISTRATION NUMBER 3140903
GROUP VAT REGISTRATION NUMBER 674 1426 34
TRUSTEES
Stephen Norton (Chair)
Angeline Garvey
Mark Martin
Hannah Piper
Rachael Reid
Julian Rice
Megan Templeman
CHIEF EXECUTIVE OFFICER Julie Hagarty
REGISTERED OFFICE 13 Geneva Road
Kingston upon Thames
Surrey
KT1 2TW
AUDITOR Cooper Parry Group Limited
Statutory Auditors
46 High Street
Esher
Surrey
KT10 9QY
BANKERS National Westminster Bank Plc
Market Place Branch
5 Market Place
Kingston upon Thames
Surrey KT1 1JX

1

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

The Trustees present their report and the audited and consolidated financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP} " Accounting and Reporting by Charities" (FRS 102) in preparing their annual report and consolidated financial statements of the charity.

These financial statements have been prepared in accordance with the accounting policies set out in the notes and comply with the charity's governing document the Charities Act 2011 and the 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the financial year and since the financial year end were as follows:

Stephen Norton Angeline Garvey Mark Martin Michael Parker (resigned 19 January 2023) Hannah Piper Rachael Reid (appointed 19 July 2022) Julian Rice Megan Templeman

Objectives of the charity

EnhanceAble ('the Group') exists to promote the care and support, welfare, treatment, education, training, employment and advancement of people who have cerebral palsy, acquired brain injury or another disability.

EnhanceAble is a local charity supporting people with disabilities in and around the Royal Borough of Kingston and the London Borough of Richmond. We have been making a difference to lives for over 60 years and as a charity, we are driven not by the need to make a profit, but by our commitment to be responsive to each of our service users’ unique needs.

Our objectives are to help people with disabilities and their parents or carers to truly enhance and improve their lives; hence our name. We support service users of all ages; children, teenagers, young adults and adults and in a variety of different ways and settings; in their homes and in the community, through individual one to one support, our day centre, regular after- school clubs, short breaks and respite care facilities.

2.1

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Principal activities of the charity

Geneva Road

The Group's day centre in Geneva Road, Kingston offers education, work and leisure activities designed to encourage service users to lead as independent a life as possible as valued members of the community. Courses offered include skills development, information technology, therapeutic opportunities, creative workshops and sport and leisure activities. On 14 February we launched Click Café, a community café and resource designed and run by and for disabled people.

EnhanceAble Living

We provide care and support services to people in their own homes on an individual basis and also provide outreach services, e.g. helping them gain access to local amenities, and remain living independently. This service is registered with the Care Quality Commission.

EnhanceAble Children's Service

We run three after-school clubs at Geneva Road;

With each of these clubs, we aim to support young people to improve their social and life skills, to make friends and meet others with a similar diagnosis and above all to have fun.

EnhanceAble Space

Launched in May 2014, 'Space' provides a high-quality respite care service for adults with disabilities that was delivered during the year from an owned property in Ewell. The service is registered with the Care Quality Commission for the delivery of accommodation with personal care.

EnhanceAble Children's Respite Service

Rainbow House launched in the summer of 2021, this high-quality new purpose-built respite care facility serves the needs of children aged 8-17 with multiple disabilities and complex medical needs referred by Achieving for Children (‘AfC’) who have appointed us as its commissioned provider to deliver services. Rainbow House is owned and funded by AfC with Kingston Council and regulated by OFSTED.

Fund-raising standards information

Whilst less than 10% of the Group's income comes from fund-raising activities, looking to the future, we plan to expand this. We will therefore ensure that employees, volunteers and third parties working with us to help raise funds comply with the law as it applies to charities and fundraising.

2.2

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Public benefit statement

The trustees confirm that they have complied with the duty in Section 4 (4) of the Charities Act 2011 by referring to the Charity Commission's general guidance on public benefit when reviewing the aim and objectives of the Group and in planning its future activities.

The opportunity to benefit is not restricted by any constraint other than our capacity to provide an activity or service in a particular geographical location. Our services are not restricted by gender but because the services we provide are outside the funding capacity of all but a few people and their families, our fees are primarily funded, directly or indirectly, by local authorities.

2.3

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Financial review (including reserves policy)

Income:

Expenditure:

Net result in the year

The net movement in funds was a surplus of £210,209 compared with a surplus of £91,320 in the previous year.

Geneva Road Ltd - Day Centre Service

Income from charitable activities increased by £98,204 (24%) to £515,300. This resulted in a net deficit of £13,071 for the year ended March 2023.

EnhanceAble Living - Domiciliary and Outreach Care Service

Income from charitable activities increased by £5,172 (2%) to £238,347. This resulted in a net deficit of £26,914for the year ended March 2023.

EnhanceAble Space - Adult Respite Care Service

Income from charitable activities decreased by £81,514 (15%) to £606,732. This resulted in a net surplus of £83,788 for the year ended March 2023.

EnhanceAble Children 's Services - Kite, Ribbons and Flyers

Income from charitable activities decreased by £6,240 (12%) to £43,760. This resulted in a net surplus of £11,886 for the year ended March 2023.

EnhanceAble Children's Services- Rainbow House

Income from charitable activities increased by £122,682 (14%) to £978,518. This resulted in a surplus of £415,045 for the year ended March 2023.

2.4

ENHANCEABLE

TRUSTEES ' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Reserves Policy

At 31 March 2023, unrestricted funds were £422,622. and the free reserves available for general charitable purposes (unrestricted reserves less the book value of tangible fixed assets net of mortgage borrowings repayable after more than one year) were £1,233,399.

The Group’s reserves policy aims to balance several financial aims and objectives which are to:

2.5

ENHANCEABLE

TRUSTEES ' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Throughout the year the Charity has continued to develop and to deliver high quality services in a challenging environment, delivering in excess of 100,800 support hours and reaching in excess of 200 people with disabilities.

We have continued to invest in developing our services and have invested in our professional workforce, notably in training and developing people to deliver the highest quality care and support to the people who use our services.

Throughout our work in all areas, EnhanceAble has continued to be an organisation driven by its values:

We value inclusion,

As an organisation, we are passionate about the way we approach and carry out our work, which can be summarised as follows:

All of our strategic planning is underpinned by these values.

We have continued to explore other routes to raising funds and will continue to develop these in future years. We have sought to find ways of broadening our catchment area and raising our profile within neighbouring boroughs, whilst continuing to focus on the communities we presently serve.

We aim to continue upgrading our day centre facilities, extending this service to provide more 'drop-in' facilities for individual service users, their carers and support workers. We also aim to continue investing in our staff and digital infrastructure to ensure that we communicate effectively with supporters, volunteers, service users, their families, friends, and carers.

2.6

ENHANCEABLE

TRUSTEES ' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 23

Strategic Report

Geneva Road

Our aim will be to continue providing a range of high-quality educational, therapeutic and social events using trained, skilled and well-managed staff and to provide an environment at Geneva Road that is stimulating, safe and appropriate for the people we support. In the last financial year we supplied 5190 1:1 support hours and 6042 day placements at the service.

EnhanceAble Living

In 2022/23, the service delivered 10,274 (2021/2022 10,404) hours of chargeable support; an average of 197 (2021/22 200) client hours per week.

EnhanceAble Living was inspected by the Care Quality Commission in February 2022 and deemed to be good across all domains.

EnhanceAble Living exists to provide peripatetic support for local people with disabilities . This support may take place in a service user's home, an educational facility or local amenities. The strategic aim of this service is to provide individuals with high-level individualised care that can meet the needs particularly of those with more complex requirements; for example, people who have more challenging behaviour or people with specialised physical needs.

All support provided is at least on a one-to-one basis and staff are selected for their ability to work without direct supervision. Activities include skills development, promoting independence, looking after service users' homes and supporting their leisure and social activities. A recent strategic move has been to enable service users to access activities at Geneva Road free-of-charge, which recognises that many of our service users have very low disposable incomes.

2.7

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

EnhanceAble Space

During 2022/2023 chargeable occupancy rates increased to 73%. from 60% in 2021/22.

Surveys and feedback about our adult respite care service have all been very positive, and we were inspected by CQC in May 2022 and were deemed to be overall “good” across and “outstanding” in relation to the Responsive domain .

Kite, Ribbons and Flyers

For the past 10 years, we have provided after-school clubs (groups) for children with Asperger's Syndrome and for children with complex needs. In 2022/23, and following an open tender exercise we were awarded the contract to continue supplying these services for at least a further three years. The new contract began in September 2022.

These groups now continue to be enjoyed by children and young people and provided by EnhanceAble with Achieving for Children grant funding.

Rainbow House

Rainbow House is a 7 bedroom, purpose built short breaks service for children with disabilities that opened in August 2021. The property is owned by Kingston Council and the care / support service is commissioned via contract by Achieving for Children (AfC).

Rainbow House provided 1041 short breaks for disabled children in 2022/23

The service received its first inspection from Ofsted in February 2023 and was deemed to be “Good” across all domains.

2.8

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Fundraising

We closed one of our two charity shops at the end of its lease. The shops and related activities generated a break even position during the year. The financial performance of the remaining shop remains under continuous review by EnhanceAble’s Senior Management Team and Board of Trustees.

Plans and objectives for future periods

We are working with our funders to jointly determine future plans and funding in all areas. We remain committed to continuing to provide only high quality, user centred services and are ambitious to grow and develop the services we provide. Operation of the Geneva Road Centre without a significant deficit has enabled us to plan a number of important developments in the life of EnhanceAble. Our plans for the future mean that we will;

2.9

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Structure, Governance and Charitable Status

The Group's origins stretch-back 60 years as a local branch of what was then called The Spastics' Society and subsequently as North SurreyGroup Scope, an unincorporated charity.

EnhanceAble was incorporated in England and Wales as a company limited by guarantee on 22 December 1995 (Registered Company No. 3140903) and registered as a charity on 28 March 1996 (Registered Charity No. 10S3246). On 1 April 1996 the Group took over all the assets and activities of North Surrey Group Scope (Registered Charity No 209741) and the name was changed from North Surrey Group Scope to EnhanceAble on 30 November 2005.

The Group's Day Centre services in Kingston are supplied through its wholly owned subsidiary, Geneva Road Limited (Registered No. 3048810) a company limited by shares.

Recruitment and appointment of new trustees

New trustees are recruited and appointed from two sources. Firstly, clients of the group are encouraged to nominate potential directors from among the client group, so as to ensure good client representation on the trustee board. The people nominated are then eligible for election at the Annual General Meeting. Secondly, a Nominations sub-Committee of the board identifies the type of expertise required to ensure that the board as a whole can properly fulfil its responsibilities and then seeks to recruit suitable trustees by consulting other voluntary organisations, professional bodies and / or by advertising. Potential trustees are interviewed and are then nominated for election at the Annual General Meeting. The board may co-opt such individuals in the first instance.

Induction and training of trustees

The induction programme for new trustees includes briefings from the Chair and the Chief Executive and the provision of copies of basic information including the constitutional documents, the latest accounts and business plan and Charity Commission documents on the duties of trustees.

Organisational structure and decision- making process

The Group is controlled by the Board of Trustees, which meets regularly and at least four times each year. Day to day management is delegated to the Chief Executive Officer, who reports to the Chair of the Trustees. The activities of the Geneva Road Centre are managed by our subsidiary company Geneva Road Limited. The managers of the Geneva Road Centre, EnhanceAble Children's Service, EnhanceAble Living, EnhanceAble Space, Rainbow House and the Volunteer Support manager report to the Chief Executive.

The board is further supported by finance and investment, nominations and HR sub-Committees, which have terms of reference and a dedicated chair.

2.10

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Related parties and wider networks

The Group is an independent charity that receives in excess of 90% of its funding, directly or indirectly, from local authorities. Approximately 40% of service users are funded by the Royal Borough of Kingston upon Thames, 30% by Surrey and the remainder by the London Borough of Richmond upon Thames, Hounslow and other local boroughs.

Risk Management

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining our free reserves at the levels stated below, combined with our annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks that we face and confirm that they have established systems to mitigate the significant risks.

Trustees' responsibilities

The Trustees who are also Directors of EnhanceAble (a charitable company - 'the Charity') for the purposes of Company Law are responsible for preparing the Trustees' Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources 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:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statements may differ from legislation in other jurisdictions.

2.11

ENHANCEABLE

TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT

YEAR ENDED 31 MARCH 2023

Disclosure of information to the auditors

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

there is no relevant audit information of which the charitable company's auditors are unaware; and

we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

In approving the Trustees' Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

Auditors

The audit business of Haines Watts Kingston LLP was acquired by Cooper Parry Group Limited on 14 November 2023. Haines Watts Kingston LLP has resigned as auditor and Cooper Parry Group Limited has been appointed in its place.

Cooper Parry Group Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

On behalf of the board

Signed

Date

2.12

Independent Auditor’s Report to the Trustees of Enhanceable

Opinion

We have audited the financial statements of EnhanceAble (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise a Statement of Financial Activities, a Balance Sheet, a Cash Flow Statement 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

3.1

Independent Auditor’s Report to the Trustees of Enhanceable

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 2.12, the trustees (who are also the directors of the charitable company 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 parent charitable company’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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under section 151 of the Charities Act 2011 and report in accordance with this Act.

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

3.2

Independent Auditor’s Report to the Trustees of Enhanceable

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

3.3

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Wills FCA MA (Senior Statutory Auditor)

for and on behalf of

Cooper Parry Group Limited Statutory Auditor Aissela, 46 High Street Esher Surrey KT10 9QY

3.4

ENHANCEABLE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2023

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other
6
Total income and endowments
Expenditure on:
Trading activities
7
Charitable activities
8
Total expenditure
Net (expenditure) / income before transfers
Transfers between funds
11
Net incoming resources before other recognised
gains and losses
Other recognised gains:
Gain on investment assets
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
450
1,360,379
64,923
1,235
22,513
1,449,500
63,389
1,624,444
1,687,833
(238,333)
-
(238,333)
(11,699)
(250,032)
672,654
422,622		 Restricted
Funds
£
-
1,030,660
-
-
-
1,030,660
-
570,421
570,421
460,239
-
460,239
-
460,239
773,160
1,233,399		 Total
2023
£
450
2,391,039
64,923
1,235
22,513
2,480,160
63,389
2,194,865
2,258,254
221,908
-
221,908
(11,699)
210,209
1,445,814
1,656,023		 Total
2022
£
2,984
1,994,662
66,887
32
55,908
2,120,473
67,078
1,978,600
2,045,678
74,795
-
74,795
16,525
91,320
1,354,494
1,445,814

The notes on pages 7a to 7k form part of these financial statements.

Page 4

ENHANCEABLE

CONSOLIDATED AND CHARITY BALANCE SHEET

YEAR ENDED 31 MARCH 2023

FIXED ASSETS
Tangible assets
Investments
TOTAL FIXED ASSETS
CURRENT ASSETS
Debtors
Amounts owed by group undertakings
Cash at bank and in hand
TOTAL CURRENT ASSETS
LIABILITIES
Creditors: Amount falling due within one year
NET CURRENT ASSETS
Creditors: Amount falling due after one year
Property mortgage
Retirement benefit obligations
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
Unrestricted income funds
Restricted income funds
TOTAL FUNDS		 Notes
12
13
14
15
16
17
25
19
20		 Total funds
Group
2023
£
978,600
178,815
1,157,415
278,554
-
1,005,586
1,284,140
(431,934)
852,207
(349,393)
(4,205)
1,656,023
422,623
1,233,400
1,656,023		 Total funds
Charity
2023
£
978,600
178,915
1,157,515
769,463
-
344,401
1,113,865
(275,217)
838,649
(349,393)
(4,205)
1,642,566
409,166
1,233,399
1,642,566		 Total funds
Group
2022
£
1,001,439
190,513
1,191,953
255,219
-
737,473
992,692
(356,734)
635,957
(375,499)
(6,596)
1,445,814
672,654
773,160
1,445,814		 Total funds
Charity
2022
£
1,001,439
190,613
1,192,053
371,586
-
572,951
944,538
(296,273)
648,266
(375,499)
(6,596)
1,458,224
685,064
773,160
1,458,224

These accounts have been prepared in accordance with the provisions applicable to companies that are subject to the small companies' regime.

Approved by the board on ……………………………..……………... 2023

…………………………………………………...….……..

Company Registration Number: 3140903

Director

The notes on pages 7a to 7k form part of these financial statements.

Page 5

ENHANCEABLE

CONSOLIDATED STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2023

Note
Cash flows from operating activities
26
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of investments
Interest from investments
Net cash used in investing activities
Cash flows from financing activities
Cash inflows from new borrowing
Repayments of borrowing
Interest paid
Net cash provided by financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
27
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2023		 2023
£
337,777
(29,140)
-
1,235
(27,905)
-
(23,980)
(17,778)
(41,758)
268,114
737,472
1,005,586
1,005,586
1,005,586		 2022
£
270,764		 2022
(54,634)
-
32
(54,602)
-
(21,041)
(15,752)
36,793
-
179,369
558,103
737,472
737,472
737,472

The notes on pages 7a to 7k form part of these financial statements.

Page 6

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. General information and basis of preparation

EnhanceAble ('the Charity') is a company limited by guarantee and was incorporated in England and Wales on 22 December 1995 with the registered number 3140903. It was registered as a charity on 28 March 1996 with the registered number 1053246 and on 1 April 1996 the Charity took over all the assets and activities of North Surrey Group Scope, an unincorporated charity with the registered number 209741.

The Charity’s day centre services in Geneva Road, Kingston are supplied through a wholly owned subsidiary, Geneva Road Limited, a company limited by shares and incorporated in England and Wales with the registered number 3048810.

The address of the registered office is given in the charity information on page 3 of these financial statements.

The Charity exists to serve people with cerebral palsy and other disabilities. The nature of its operations and principal activities are as follows:

Geneva Road Day Centre offers education, work and leisure activities designed to encourage its service users to lead as independent a life as possible as valued members of the community. Courses include skills development, information technology, therapeutic opportunities, creative workshops and sport and leisure activities.

EnhanceAble Living provides care and support services to disabled people in their own homes on an individual basis and provides outreach services, e.g. helping them gain access to local amenities, such as the local swimming pool, or to go shopping, etc. This service is registered with the Care Quality Commission.

EnhanceAble Space was launched in 2014 to provide a high quality respite care service for disabled adults and is delivered from a large detached house located at 221A Malden Road, Worcester Park, Surrey KT3 6AG.

EnhanceAble Children’s Service runs three after school clubs and a respite care service for disabled children;

  1. KITES - for older children aged 11-18 with Asperger’s Syndrome or high-functioning Autism,

  2. RIBBONS - for younger children aged 5-11 with Asperger’s Syndrome or high-functioning Autism and 3. FLYERS - for children with more complex health and / or physical disabilities

With each of these clubs, we aim to support young people to improve their social and life skills, to make friends and meet others with a similar diagnosis and above all to have fun.

Rainbow House was launched in 2021 to provide a high quality respite care service for disabled children aged 8-18 referred by the Richmond Disabled Children’s Service. Rainbow House is owned by Richmond Council and the Charity is funded to run and manage the service, which is registered with and regularly inspected by Ofsted.

Click Café was launched in 2022 to provide refereshments in the afternoons at the Geneva Road Day Centre. The refreshment service runs five days a week and is open to the public.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in Sterling, which is the functional currency of the Charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Page 7(a)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

b. Consolidated Financial Statements

These financial statements consolidate the results of the charity and its wholly-owned subsidiary company Geneva Road Limited. A separate Statement of Financial Activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by the Companies Act 2006 and

c. Incoming Resources

i) Legacies

Legacies are brought into the accounts when they become capable of financial measurement.

ii) Donations

Donations are accounted for on a receipts basis.

iii) Gifts in Kind

Assets donated for use by the group are recognised as incoming resources when received.

iv) Grants

Grants are recognised when the conditions for receipts have been met.

Grants restricted to future accounting periods are deferred and recognised in those future accounting periods. Otherwise, grants are recognised in the Statement of Financial Activities in a similar manner to other incoming resources. Grants received for specific purposes are accounted for as restricted funds.

v) Shops

Incoming resources from the charity's shops are included when receivable.

d. Resources Expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which can not be recovered.

Grants payable are charged in the year when the offer is conveyed to the recipient.

Certain expenditure is directly attributable to specific activities and has been included in those cost categories.

e. Tangible Fixed Assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold Property Improvements between 3 and 10 years straight line
Long Leasehold Property between 5 and 25 years straight line
Short Leasehold - Shop 3 years straight line
Motor Vehicles 5 years straight line
Equipment, Fixtures and Fittings between 3 and 7 years straight line
Computer Equipment 4 years straight line

f. Investments

The Charity's unlisted investments are stated at cost. Provision for any diminution in the value of investments is only made when the diminution is considered to be permanent.

The Charity's investment portfolio is stated at fair value with changes in fair value being recognised in the Statement of Financial Activities.

g. Pension Costs

The company participates in the Pension Trust's Growth and Flexible Retirement Plans.

The Growth Plan is a multi-employer plan which is in most respects a money purchase plan but it has some guarantees. The Flexible Retirement Plan is also a multi-employer plan and is wholly a money purchase plan.

pension cost charge represents contributions payable by the company to the Growth Plan and to the Flexible Retirement Plan.

h. Restricted Funds

which have been raised for specific purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

i. Unrestricted Funds

Unrestricted Funds are available for use at the discretion of the trustees in furthering the general objectives of the charity and have not been designated for other purposes.

Page 7(b)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

j. Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable in the circumstances.

k. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

l. Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

m. Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the charity becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. Financial liabilities are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability.

n. Going concern

The Trustees, having considered the financial position of the Charity as well as its future aims and forecast cash flows, have concluded that the Charity will continue to operate for the foreseeable future and at least until 12 months from the signing of these financial statements.

Page 7(c)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
Funds
£
Donations - Other
450
3. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
£
EnhanceAble Living Care Fees
238,347
EnhanceAble Space Fees
606,732
Geneva Road Centre Fees
515,300
Geneva Road Centre Sales
-
Kite, Ribbons and Flyers
-
Rainbow House
-
Croft Cottage
-
Click Café
-
1,360,379
4. INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
£
Shop income
64,923
Jumble and rag sales
-
64,923
5. INCOME FROM INVESTMENTS
Unrestricted
Funds
£
Interest
1,235
1,235
6. OTHER INCOME
Unrestricted
Funds
£
Sundry income
22,512
Government Grant
-
22,512		 Restricted
Funds
£
-
Restricted
Funds
£
-
-
-
-
43,760
978,518
-
8,382
1,030,661
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-		 2023
£
450
2023
£
238,347
606,732
515,300
-
43,760
978,518
-
8,382
2,391,040
2023
£
64,923
-
64,923
2023
£
1,235
1,235
2023
£
22,512
-
22,512		 Unrestricted
Funds
£
2,984
Unrestricted
Funds
£
233,175
400,352
417,096
-
-
-
-
-
1,050,624
Unrestricted
Funds
£
66,887
-
66,887
Unrestricted
Funds
£
32
32
Unrestricted
Funds
£
41,655
-
41,655		 Restricted
Funds
£
-
Restricted
Funds
£
-
-
-
-
50,000
855,836
38,202
-
944,038
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
14,253
14,253		 2022
£
2,984
2022
£
233,175
400,352
417,096
-
50,000
855,836
38,202
-













1,994,662
2022
£
66,887
-
66,887
2022
£
32
32
2022
£
41,655
14,253
55,908

Page 7(d)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

7. ANALYSIS OF EXPENDITURE ON TRADING ACTIVITIES

Staff costs
Shop repairs
Other shop expenses
Jumble and rag sale expenses
Total
8. EXPENDITURE ON CHARITABLE ACTIVITIES
Expenditure on each activity was as follows:
EnhanceAble Living
EnhanceAble Space
Geneva Road Centre
Kite, Ribbons and Flyers
Rainbow House
Croft Cottage
Click Café
Central support costs not reallocated
The expenditure on charitable activities can be
further analysed as follows:
Service costs
Payments to members
Staff costs
Transport and travel
Cost of meals
Rent and rates
Insurances
Utility costs
Printing, postage, stationery
and telecommunications
Repairs and renewals
Cleaning and waste disposal
General expenses
Bad debts
Members' courses
Staff recruitment
Training costs
Depreciation
(Profit) / loss on disposal of fixed assets
Ofsted Inspection
Auditor's remuneration (see below)
Other professional fees
Bank Charges
Interest Expense		 Unrestricted
Funds
£
38,329
218
24,842
-
63,389
Unrestricted
Funds
£
265,261
423,652
503,184
-
-
-
-
432,348
1,624,444
Unrestricted
Funds
£
9,640
-
1,286,409
48,727
2,981
15,400
-
33,901
18,709
20,249
11,109
74,596
55,342

18,939
8,718
29,529
51,980
-
-
20,000
6,600
4,519
17,778
1,624,444		 Restricted
Funds
£
-
-
-
-
-
Restricted
Funds
£
-
-
-
(763)
562,370
433
8,381
-
570,421
Restricted
Funds
£
-
-
525,335
362
7,471
15,400

-
-
1,143
-
-
29,033
-
-
22,476
-
-
-
-
-
-
-
-
570,421		 Total
2023
£
38,329
218
24,842
-
63,389
Total
2023
£
265,261
423,652
503,184
- 763
562,370
433
8,381
432,348
2,194,865
Total
2023
£
9,640
-
1,811,744
49,089
10,453
-
-
33,901
19,852
20,249
11,109
103,629
55,342
-
18,939
31,194
29,529
51,980
-
-
20,000
6,600
4,519
17,778
2,194,864		 Unrestricted
Funds
£
36,222
250
30,606
-
67,078
Unrestricted
Funds
£
264,968
624,673
437,273
-
-
-
-
156,966
1,483,880
Unrestricted
Funds
£
11,694
-
1,058,837
30,337
4,590
15,400
1,434
20,761
8,097
8,035
7,618
87,818
102,855
7,768
6,452
7,162
50,209
-
-
12,000
14,173
12,888
15,752
1,483,880		 Restricted
Funds
£
-
-
-
-
-
Restricted
Funds
£
-
-
-
965
459,301
34,454
-
-
494,720
Restricted
Funds
£
1,080
-
484,875
2,869
4,060
15,400

-
-
627
40
-
11,774
-
-
4,750
-
-
-
45
-
-
-
-
494,720		 2022
£
36,222
250
30,606
-
67,078
Total
2022
£
264,968
624,673
437,273
965
459,301
34,454
-
156,966
1,978,600

-		 - - Total
2022
£
12,774
-
1,543,712
33,206
8,649
-
1,434
20,761
8,724
8,075
7,618
99,592
102,855
7,768
11,202
7,162
50,209
-
45
12,000
14,173
12,888
15,752
1,978,600

Auditor's remuneration comprises fees payable to the Charity's auditor for the audit of the Charity's annual financial statements and that of its subsidiary, Geneva Road Limited.

9. TRUSTEES' AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES

The Key Management Personnel of EnhanceAble comprises the Trustees and the Chief Executive, Mrs Julie Hagarty. There were no donations from Trustees to the Charity during the year (2022: £nil).

Trustees neither received nor waived remuneration during the year (2022: £nil). No expenses were reimbursed to trustees during the year (2022: nil). Total employee benefits paid during the year to the Chief Executive amounted to £64,988 (2022: £64,988).

Page 7(e)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

10. STAFF COSTS AND EMPLOYEE BENEFITS

Unrestricted
Funds
£
Salaries and wages
1,220,346
Social security costs
70,773
Pensions
33,619
1,324,738
The average monthly number of employees and full
time equivalent (FTE) during the year was as follows:
Charitable activities
Central Support
Shops
Total		 Restricted
Funds
£
468,665
40,395
16,275
525,335
2023
Number
63
7
1
71		 Total
2023
£
1,689,011
111,168
49,894
1,850,073
2023
FTE
48
6
1
55		 Unrestricted
Funds
£
958,864
82,085
53,219
1,094,169		 Restricted
Funds
£
433,206
33,850
17,819
484,875
2022
Number
72
8
2
82		 Total
2022
£
1,392,070
115,935
71,039
1,579,044
2022
FTE
54
8
1
63

11. TRANSFERS

No transfer between restricted funds and unrestricted funds occurred during the year.

**12. ** TANGIBLE ASSETS
Group
Cost or Valuation
At 1 April 2022
Additions
Intra group transfers
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Disposals
Intra group transfers
Charge for the year
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022
Charity
Cost or Valuation
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Disposals
Charge for the year
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022		 Motor
Vehicles
£
125,567
-
-
-
125,567
116,457
-
-
9,110
125,567
0
9,110
£
125,567
-
-
125,567
116,457
-
9,110
125,567
0
9,110		 Computer
Equipment
£
45,373
3,412
-
0
-
48,785
43,296
-
-
1,608
44,904
3,881
2,077
£
45,373
3,412
-
48,785
43,296
-
1,608
44,904
3,881
2,077		 Office
Equipment
£
6,505
-
-
(798)
5,707
6,505
(798)
-
0
5,707
-
-
£
6,505
-
(798)
5,707
6,505
(798)
0
5,707
-
-		 Furniture
Fixtures Plant
& Machinery
£
150,122
1,964
-
-
152,086
128,639
-
-
10,276
138,915
13,171
21,483
£
150,122
1,964
-
152,086
128,639
-
10,276
138,915
13,171
21,483		 Leasehold
Land &
Buildings
£
688,388
23,764
-
-
712,152
513,629
-
-
25,411
539,040
173,112
174,759
£
688,388
23,764
-
712,152
513,629
-
25,411
539,040
173,112
174,759		 Freehold
Property
£
838,608
-
-
-
838,608
44,597
-
-
5,575
50,172
788,436
794,011
£
838,608
-
-
838,608
44,597
-
5,575
50,172
788,436
794,011		 2023
Total
£
1,854,563
29,140
-
(798)
1,882,905
853,123
(798)
0
51,980
904,305
978,600
1,001,440
£
1,854,563
29,140
(798)
1,882,905
853,123
(798)
51,980
904,305
978,600
1,001,440

Page 7(f)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

ENHANCEABLE

13.
14.
15.
16.
**17 **		 FIXED ASSET INVESTMENTS
COIF Charities Property Fund
COIF Investment Fund
£200,000 has been invested in the CCLA COIF Charities Deposit, Property and
Shares in Subsidiary Undertaking
Subsidiary
Class of
shares held
Geneva Road Limited
Ordinary £1
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Trade debtors
Prepayments
Other taxation and social security
Other debtors
Charity
Trade debtors
Prepayments
Other debtors
Amounts owed by group undertakings
AMOUNTS OWED BY GROUP UNDERTAKINGS
Charity
Amounts owed by Geneva Road Limited
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Property mortgage
Trade creditors
Other taxation and social security
Other creditors and accruals
Charity
Property mortgage
Trade creditors
Other taxation and social security
Other creditors and accruals
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
Property mortgage
Amounts due 2-5 years
Amounts due after 5 years
Charity
Property mortgage
Amounts due 2-5 years
Amounts due after 5 years
As explained in note 13 the charity owns 100% of the shares in the above-na
an undertaking to give a floating charge over the assets of the company to E
(2022: 4.75% per annum) and the loan is repayable on demand.		 31/03/2023
Units (no.)
20,726
8,437
Investment Fun
% of shares
held
100
med company. T
nhanceAble. Inte		 31/03/2023
Cost (£)
25,000
125,000
150,000
ds.
Turnover
£529,050
General
£
229,989
22,629
16,389
9,548
278,554
146,600
3,250
9,546
610,066
769,461
Note 18
Note 18
Note 18
Note 18
he directors of G
rest is payable at		 31/03/2023
Cost (£)
25,000
125,000
150,000
ds.
Turnover
£529,050
General
£
229,989
22,629
16,389
9,548
278,554
146,600
3,250
9,546
610,066
769,461
Note 18
Note 18
Note 18
Note 18
he directors of G
rest is payable at		 2023
Value (£)
20,726
158,089
178,815
100
Profit for the
Year
£25,866
2023
£
229,989
22,629
16,389
9,548
278,554
146,600
3,250
9,546
610,066
769,461
2023
£
(610,066)
2023
£
24,803
276,045
-
131,088
431,934
£
24,803
129,425
-
120,988
275,217
2023
£
85,174
264,219
349,393
£
85,174
264,219
349,393
eneva Road Limite
a rate of 4.75% pe		 2022
Value (£)
26,469
164,044
190,513
ds. 100
Aggregate

Reserves
£13,556
2022
£
226,035
19,256
-
9,929
255,219
71,265
10,222
9,927
280,173
371,586
Not
Not
Not
Not
he di
rest i		 e
e
e
e
r
s		 2022
£
(280,173)
d ha
r an		 2022
£
22,677
185,951
45,540
102,566
ve given
num
356,734
£
22,677
185,951
28,445
59,200
296,273
2022
£
77,871
297,628
375,499
£
77,871
297,628
375,499

Page 7(g)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

18. PROPERTY MORTGAGE

Included in creditors falling due within one year and after more than one year is a Property Mortgage, secured with a fixed charge on the freehold property owned by EnhanceAble.

The loan is repayable in 180 months with 140 remaining as at 31 March 2023.

Interest is charged at a fixed rate of 4.49% for the first ten years and at the Bank of England Base Rate plus 2.4% thereafter.

**19. ** UNRESTRICTED FUNDS
Group
At 1 April 2022
Net incoming / (outgoing) resources
Transfer from/(to) restricted funds
Other recognised gains/(losses)
At 31 March 2023
Charity
At 1 April 2022
Net (outgoing) / incoming resources
Transfer to restricted funds
Other recognised gains/(losses)
At 31 March 2023		 2023
£
672,654
(238,333)
-
(11,699)
422,623
£
685,064
(264,199)
-
(11,699)
409,166		 2022
£
1,044,905
(388,776)
-
16,525
672,654
£
1,046,303
(377,764)
-
16,525
685,064

20. RESTRICTED FUNDS

EnhanceAble Children's Services (ECS) runs three ‘after school’ clubs, Kite, Ribbons and Flyers, for young people who have Asperger’s Syndrome or high functioning Autism. It also manages a respite care and short break service known as Croft Cottage for children and young people aged between 8 and 18.

Movements in funds - Year ending 31 March 2023

Group
Kite, Ribbons and Flyers
Croft Cottage
Rainbow House
CLICK Café
Covid Grant
Charity
Kite, Ribbons and Flyers
Croft Cottage
Rainbow House
CLICK Café
Covid Grant		 Balance at
31.03.2022
£
115,956
101,679
396,534
-
158,991
773,160
115,956
101,679
396,534
-
158,991
773,160		 Incoming
Resources
£
43,760
-
978,519
8,381
-
1,030,661
43,760
-
978,519
8,381
-
1,030,661		 Expenditure,
Gains and
Losses
£
(763)
433
562,371
8,381
-
570,422
(763)
433
562,371
8,381
-
570,422		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31.03.2023
£
160,480
101,246
812,683
-
158,991
1,233,400
160,480
101,246
812,683
-
158,991
1,233,400

Movements in funds - Year ending 31 March 2022

Group
Kite, Ribbons and Flyers
Croft Cottage
Rainbow House
Covid Grant
Charity
Kite, Ribbons and Flyers
Croft Cottage
Rainbow House
Covid Grant		 Balance at
31.03.2021
£
66,921
97,930
-
144,738
309,589
66,921
97,930
-
144,738
309,589		 Incoming
Resources
£
50,000
38,203
855,836
14,253
958,293
50,000
38,203
855,836
14,253
958,293		 Expenditure,
Gains and
Losses
£
965
34,454
459,302
-
494,721
965
34,454
459,302
-
494,721		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 Balance at
31.03.2022
£
115,956
101,679
396,534
158,991
773,160
115,956
101,679
396,534
158,991
773,160

Page 7(h)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

ENHANCEABLE

YEAR ENDED 31 MARCH 2023

21. CAPITAL

The parent company is limited by guarantee. Every member of the company undertakes to contribute to the company in the event of it being wound up whilst she / he is a member or within one year afterwards, for the payment of debts and liabilities of the company contracted before she / he ceases to be a member and the costs, charges and expenses of winding up and for the adjustment of the rights of contributories among themselves such amount as may be required not exceeding one pound.

22. CONNECTED CHARITIES

The company is affiliated to the national charity for people with cerebral palsy and associated disabilities, SCOPE.

23. FINANCIAL COMMITMENTS

b) Land and Buildings
Operating leases which expire:
(a) within one year
(b) in the second to fifth year
(c) after five years
Office Equipment
Operating leases which expire:
(a) within one year
(b) in the second to fifth year
(c) after five years		 2023
£
-
-
-
-
£
7,333
14,667
-
22,000		 2022
£
7,254
-
-
7,254
£
7,333
22,000
-
29,333

24. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund Balances at 31 March 2022 are represented
by:
Fixed Assets
Current Assets
Liabilities
Total Net Assets		 Unrestricted
Funds
£
1,157,415
50,741
(785,531)
422,625		 Restricted
Funds
£
-
1,233,400
-
1,233,400		 Total
2023
£
1,157,415
1,284,140
(785,531)
1,656,024		 Total
2022
£
1,191,953
992,692
(738,832)
1,445,814

25. RETIREMENT BENEFIT OBLIGATIONS

The company participates in the Pension Trust's Growth Plan and its Flexible Retirement Plan. It also makes contributions to employees' personal pension plans. The Pension Trust's Growth Plan provides benefits to some 638 non-associated participating employers.

The Flexible Retirement Plan is a wholly a money purchase (i.e. defined contribution) scheme. The Growth Plan is a defined benefit scheme in the UK but because it is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

Page 7(i)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

25. RETIREMENT BENEFIT OBLIGATIONS - CONTINUED

The Growth Plan is classified as a 'last-man standing arrangement', which means that the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025:

£3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 30 September 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present value of pension deficit provision
Reconciliation of opening and closing provisions
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
Provision at end of period
Income and expenditure impact
Interest expense
Remeasurements – impact of any change in assumptions
Remeasurements – amendments to the contribution schedule
Contributions paid in respect of future service*
Costs recognised in income and expenditure account		 2023
£
4,205
6,596
124
(2,403)
(112)
-
4,205
124
(112)
-
-
12		 2022
£
6,596
26,752
154
(6,770)
(152)
(13,388)
6,596
154
(152)
-
-
48,728

*includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes.

Page 7(j)

ENHANCEABLE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

**25. ** RETIREMENT BENEFIT OBLIGATIONS - CONTINUED
2023 2022 2021
Assumptions per annum per annum per annum
Rate of discount 5.52% 2.35% 0.66%

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the company and the scheme at each year end period:

31 March 31 March 31 March
Deficit contributions schedule 2023 2022 2021
£ £ £
Year 1 2,403 2,403 6,770
Year 2 2,003 2,403 6,973
Year 3 2,003 7,182
Year 4 6,165
Year 5
Year 6
Year 7
Year 8

The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the company's balance sheet liability.

26. RECONCILIATION OF NET INCOME / (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income / (expenditure) for the year (as per the statement of financial activities)
Adjustments for:
Interest receivable
Interest paid
Gain on investment assets
Depreciation and impairment of tangible fixed assets
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash flow from operating activities		 2023
£
210,209
(1,235)
17,778
11,699
51,979
(23,336)
70,683
337,777		 2022
£
91,320
(32)
15,752
(16,525)
50,209
155,264
(25,225)
270,764

27. ANALYSIS OF CHANGES IN NET FUNDS

ANALYSIS OF CHANGES IN NET FUNDS
Net Cash
Cash at bank and in hand
Borrowings
Debt due within one year
Debt due after one year
TOTAL		 At 1 April 2022
737,472
(22,677)
(375,499)
(398,176)
339,296		 Cash flow
268,114
(2,126)
26,106
23,980
292,094		 at 31 March
2023
£
1,005,586
(24,803)
(349,393)
(374,196)
631,390

28. RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions with staff and Trustees are disclosed in note 9.

Page 7(k)