CARERS TRUST HEART OF ENGLAND
Trustees, report and financlal statements
for the year ended 31 March 2025
(A Comp8ny Limited by Guarantee)
Company Number. 03206963
Charity Number. 1057024
Page I

Carers Trust Heart of England
Contents of the Annual Report and Accounts
For year ended 31 March 2025
Page
Report of the Trustees
3-15
Independent Auditors Report
16-20
Statement of Financial Activities
21-22
Balance Sheet
23
Cash Flow & notss
24-25
Notes to the Financial Statements
26-39
Page 2

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
The Trustees who are also Directors of the Gharity for the purposes of the Companies Act 2006,
present their report wtth the financial ststements of the charty for the year ended 31 March 2025.
The Trustees have adopted the provisions of the Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to the charsties preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) (effective 1 January 2019).
Carers Trust Heart of England is a registered charty, no. 1057024, a company limited by
guarantee, no. 03206963 and a Netrwork Partner of Carers Trust, a national charty promoting the
rights of Carers, through working with other charities, the government and network partners
throughout the UK.
Welcome
This year we have continued to deliver agalnst our Strategic Buslness Plan (2022-2026) and
associated Operational Action Plans.
We have also begun the planning process for coproducing our strategy for 2026 and beyond which
includes assessing our progress against our current plan, and working with our varied stakeholders
to aS￿rtain where our focus should be moving forNard.
We have continued to actively seek new accommodatlon from which we can create a Community
Based Carers Hub and Head Office and as we approached the end of 2024-2025 this had begun to
gather pace and we are excited as to what the comlng year might bring. Our move of premises will
better enable us to serve our local community of Carers and people with Care and Support Needs
whilst providing a sound base from which our staff team can come together and work collaboratively
in a space which meets their needs for individual and team-based working.
We continue to work hard to deliver the serdices that we are both commissioned to provide and
those that we have secured alternative funding for, all whilst navigating what is a continually
challenging health and social care landscape. We do this whilst championing the needs of unpaid
carers at both a local and national level, seeking to achieve improvements in the rights of and
support available for alkage unpaid carers.
With that in mind on behatf of the Board of Trustees I would like to thank all our staff and volunteers
for their hard work, dedication, and flexibility for the last year, excelling and continuing to show great
fortitude. We owe them a debt of gratitude for the work they carry out and the manner in which they
do so.
Page 3

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Objectives and actlvltles
Carers Trust Heart of England wishes to support all-age carers, and those they care for. through
offering high quality, individually tailored care, and support services. We want to support carers to
live their life as well as possible, being able to access the help and support they need, when, and
how they need it.
Our Strategic Business Plan for 2022 - 2026 details our Five Key Strategic Intentions of:
Transformative Support
Impact & Influence
Sustainability
Quality & Compliance
Growth & Partnerships
This plan which is under regular review by our Board of Trustees and Staff Team(s> via our
Operational Action Plans is shaping the direction of the Charity into 2026 and beyond, ensuring that
we are able to ensure stability for the organisation whilst providing high quality, responsive services.
Vision and Values
By 2026 we aim to be a charity that is both an enabler and a provider as well as an employer of
choice, transfomiing the lives of carers of all ages and those who are cared for via high-quality,
person-centred care and support services.
We wlll be providing servlces whlch are commissioned, prlvatety, that have been developed through
listening to and harnessing the needs and wants of both carers and people they care for.
Carers Voice will be the dominant voice both internally and externally to th8 organisation, with
noteworthy improvements in awareness and understanding of carers, their needs, and the
significant role they play in our communities.
We will be doing this from a position of being an organisation that is financially sustainable, having
diverse income, which has seen growth in terms of breadth and reach.
We will have seen growth in the development of our workfor￿, who will be working collaboratively
and embodying our vision and values.
Our values are at the heart of everything we do and underpin the culture of the organisation.
There is an Importan￿ in the 'human factor, in any organisation and no matter how detailed and
solid your strategy is, if the people delivering on it do not nurture the appropriate culture there Is a
greater risk of failure to deliver.
Page 4

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
During 2025-2026 we will be carrying out a full review of our current plan and consulting with our
varied stakeholders around what our Strategic Business Plan looks like from 2026 and beyond.
For Carers Trust Heart of England our culture is about the way in which we act all of the time, in the
execution of our work and particularly in times of crisis or critical demand, how we manage pressure
and respond to the various challenges such as those that we have highlighted in our Strategic
Business Plan 2022 - 2026 and especially in how we treat eath other, users of our sepiices and
partners.
We Are (Our Qualltle8)
Solution focussed
Collaborative
Strengths based
Innovative
Compassionate (empathy in action)
W• Value (Ourvalues)
Commitment
Openness & Transparency
Integrity
Access & Equality
Quality & Improvement
Publlc Benefit
The Trustees confirm that they have referred to the guidance contained In the Charity Commission's
general guidan￿ on public benefits when reviewing the Charity's aims and objectives and in
planning future activities. The Trustees have also considered how planned activities will contribute
to the aims and objectives of the Charity.
The Charity seeks to support unpaid carers to not only continue caring, enabling those adults and
children with care and support needs to continue to live in community but to also support unpaid
carers to live well whilst caring paying particular attention to their own health and wellbeing.
Although many of the servlces provided are funded through statutory bodies there are also
significant services which are either fully or at least partially funded through private donations,
Trusts, Grants, and a range of philanthropic organisations for which we are extremely gratsful.
We use these funds to support a number of services including but not exclusNe of activity provisions
for Young Carers, our STARS Service which supports children with disabilities enabling parent
carers to have a break, Counselling for Carers and our Day Opportunities and a range of activities
for both unpaid carers and people with care and support needs.
Pa8e 5

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2026
Key Achlevements
During 2024-25 overall we have performed well across the majority of our main areas of service
delivery and we have increased the number of Special Projects that we have been able to offer.
The details of these are as follows
Adult Carer8 Inforniatlon advlce and support
2024-2026
23.191
2023-24
18,115
3,781
One to One Contact with Carers
Carets Su
rted One to One
Carers attendin
one of our Grou
Carers attendin
Grou
Activities
Carers Assessments com
leted
Activities
779
223
856
258
800
Young Carers Support
2024-2025
576
2902
1864
2023-24
486
2,569
2,471
New Youn
Carers identified
Active Youn
Carers re
istered
Contacts with re
istered carers Ihrou
rou
activities
Regulated Care
2024-2025
25,144.25
121
2023-24
29,560
178
Homecare hours delivered
Customers su
orted
Emergency Planning
2024-2025
6,120
985
2023-24
4.983
945
Eme
enc
Plans now re
istered with us
CRESS Carers registered in the last 12 fnonths
Eme
en
Care Hours Delivered
2 151.25
2,572
Page 6

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Special Projects
2024-2025
59
30
£33.092
103
374
858
2023-24
55
41
£23,619
80
330
915
Dementia Support - Customers supported.
Customers remainin
in their own home
Payments - Total payments made.
Number of Carers re￿IVIn
ments
Watwid(shire Carers received a Direct Pa
Stars Children's Club - Numbers attendin
Counselling
Referrals to Counselling
Carers Attending Sessions
Number of Sessions received b Carers
Carers Money Mstters- Carers Supported
Number of Contact
Winter Wam Bsgs
Carers receiving a Wami Bag
Reco
nised Savin
Value
Travel Pa88es- Number of Carers receiving a Pass
S8vin
s Made
£720
er carer
Daybreak - Number of people attending
Number of Hours Provided
Community Hubs
Number of individual eventslhubs attended
Numbar of visits to events and hubs
Number of
eo
le interacted with
ment
89
31
183
347
817
NIA
NIA
160
£57 686
177
£127,440
19
1.335.25
NIA
NIA
NIA
76
195
4022
NIA
Page 7

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Board
We have a Board of Trustees, each bringing different experiences to the Charity. The Board of
Trustees are:
Mr Dhiran Vagdia
Mt Martin Henwood
Mrs. Rosemarie Tonkinson
Mr Stephen Cobb
Mrs. Davinder Athwal
Ms Mar¢la Jarrett
Mr Robert Villette
Ms Angela Watkins
Mr Jonathan Trace
Mr Christophar Mills
Mr Nigel Bacon
Mr Nigel Bellamy
Chair
Resigned 25th April 2024
Resigned 6th December 2024
Appointed 6th December 2024
Our Company Secretary 18 Mrs. Claire Dale.
Wa had one committee of the Board which met quarterly. This allowed the Charity to benefit from
the different expertise of the Trustees. The committee is the Finance Commtttee. We are currently
undertaking an externally led Governance Review which will inform our use of committees moving
foDNard.
Key Personnel
Claire Dale
Melanie Boag
Fundral8lng Regulator Statsment of Compllance
The Charity does not contract a third paty to undertake any fundraising on its behalf. The Charity
now employs a Fundraising and Business Development Manager who initiates campaigns and
supports fundraising activities. We have received no fundraising complaints during the year.
Page 8

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2026
Future Plans
Our future plans continue to reflect the world post pandemic (the effects of which will be evident for
many years), battling with an ongoing economic crisis and the many ongoing uncertainties that
surround the health and social care landscape, which all impact on us as a Charity and those who
we are here to supporL
We contlnue to seek to ensure that we are robust and able to support our beneficiaries in the future
regardless of the method of delivery and despite the challenging operating environments that we
find ourselves In.
This in the short to medium term future focuses heavily on our accommodatlon and sustalnability
strategies as part of overall Strategic Business Plan 2022 - 2026 and will undoubtedly feature
heavily in any new Strategic Business Plan moving into 2026 and beyond.
In addition to our Strategic Intentions we continue to focus on:
Recovery
of our organisation as we continue developing In a post-pandemic and
significantly economically compromised era and of our staff team(s) in temis of their he8fth
and wellbeing.
stability - in continuing to secure core contractual work and varying our income stream(s),
alongside improving our recruitment and retention processes and outcomes.
Building Back better - Improving on how things were 'before' taking a lesson(s) learned
approach.
Thrivlng (not just suNiving) being financially resilient and having more autonomy in
partnership with carers to direct our work and resources on a needs led approach, maximising
Impact for beneficiaries.
Flnanclal Rèvlew
Our Flnances
The charity ended the yearwith a surplus of £31,260.
Page 9

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Princlpal Funding Sources
The principal funding source of the organisation is from contracts from StatLrtory Authorities,
namely Coventry City Council, Warwickshire County Council, and NHS Coventry and
Warwickshire ICB.
These state bodies provided 81 % (2024: 83 %) of our total income. The remaining income is from
private income for the delivery of care hours, grants from trusts and organisations supporting our
work and donations.
Investment Policy and Objectlves
The Charity has an investment policy, which is updated and reviewed every three years. It looks
for a balanced portfolio which produces reasonable income for the Charity's charitable activiti&s
whilst growing the value of the assets to protect them against the effect of inflation or other
defining factors in the longer term. This is considered a relatively low risk approach.
Th8 Stock market investments are managed by CCL4. Performance Is bench marked against the
FTSE APCIMS index.
Bank investments are with Cambridge and Counties bank and the Charity's bankers Barclays
Bank Plc. Both are yielding secure returns.
Reserve Pollcy
The reserve policy is reviewed annually In the light of the maln risks facing the organisation.
Havlng re-examined its strategic plans, the Board will seek to maintain a reserve level that will
enable it to take advantage of any opportunities to develop services whilst maintaining its
obligations to service users and creditors. The baseline requirement is to have reserves equating
to be￿een three and six months of annual expenditure. This will help us to withstand any
unforeseen events. An adequate level of reserves is also necessary to meet the working capitsl
requirements of the Charity.
The Trustees reviewed the funds that had been designated for specific purposes. As a result of
this review and in light of new and challenging environments the Trustees have agreed to a
revised list of designated fvnds to support its aims and objectives over the coming years. They are
as follows:
Descrl tion of Desi
Prernises Reserve
Private Market Develo
Infrastructure Develo
Governance Develo
Total
nated funds
Value £
120000
100,000
50,000
10,000
280,000
ment
ment
ment
Page 10

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Summary
At the 31 * March 2025 total reserves were £2,856,886 of which restricted reserves are £113,245.
Of the remaining unrestricted reserves totalling £2,743,641, £280,000 has been designated by
Trustees. The aotual free reserves at the end of the fiscal year equate to £2,463,641. However,
£2,017,325 of these Yree, reserves represent non liquid fixed assets, leaving £446,316 free
reseNes. This accounts for 5 months of the running costs of the Charity.
Risk Management
Operatlons and Flnanco
The Trustees, In conjunctlon with the senior management team, are aware of the major risks to
which the Charity is exposed. INhere appropriate, systems or procedures have been estsblished
to mltigate the risks the Charity is exposed to, internal control risks are rninimised through the
procedures for authorisation of all transactions and projects. Procedures are periodically reviewed
to ensure they continue to meet the needs of the Charity and ensure its compliance with
applicable laws and regulations.
Credlt and Liquldlty
The Charity's principal financial assets are its long-tenn investments in CCLA and its bank
balan￿s, trade and other receivables. The Charity's credit risk is attributed to its trade
receivables. The credit risk on liquid funds and derivative financial instruments is limited because
the counterparties are banks and investment houses which are rated highly by the international
credit rating agencies. The Charity has no significant cOn￿ntratIon of credst risk with exposures
spread over a large number of counterparties and service users.
In order to malntain liquldity, the management ensures that sufficient funds are available for
ongoing operations and future developments.
Governlng Document
The Charity is a charitable company not having share capital as defined by Companles Act 2006.
It was registered as a charity on 23 July 1994 and constitutes a limited company, limited by
guarantee as defined by the Companies Act 2006. It is controlled by its goveming document and
memorandum and articles of association which were amended at the board meeting in March
2021 and approved by the Charity Commission and registered with Companies House together
with the name change to Carers Trust Heart of England (ft)rmerly Crossroads, Coventry &
Warwickshire).
Pa8e 11

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2026
Recruitinent and appointment of new Trustees
The Directors of the company are also Charity Trustees for the purpose of charity law and are known
as members of the Management Committee.
Any person who is willing to act as a director, and who is permitted by lawto do so, may be appointed
to be a Director by resolution of the Directors.
Under the requirements of theArticles ofAssociation, at every Annual General Meeting (AGM) one-
third, or, if their number is not divlsible by three, the nearest number to one-third, of the Directors
shall retlre by rotation under article 15.2, but may, subject to article 15.5, offer themselves for re-
appointment by the Directors.
The Directors to retire by rotation shall be those who have been In office since their last appointment
or reappointment.
Organlsatlonal StruGture
Carers Trust Heart of England has a Board of 10 Trustees who meet regularly throughout
the year and at least quarterly. Each meeting includes a review of the current activities
including the financial position, actual achievement against the action plan, health and
safety issues and future strategy. The Board is currently supported by one committee, the
Finance Committee which meets every quarter, and feedback from this committee is given
at following Board meetings by its Chair. We are currently in the process of undertaking an
external Governance Review which wi51 infom our committee structure moving forward.
The Trusteas attend both the Annual General Meeting and any training seminars pertinent
to their responsibilities as Trustees. The Trustees have a wide range of business, social
work, and management experien￿ from practitioner to director level and the majority of
Trustees have also had personal experience of caring.
The head Offi￿ of the charity is currently in 12a Canal Basin, St Nicholas Road in Coventry
ueen Vlctoria Road in Coventry and Regulatsd seNices and Coventry Wellbeing services
are delivered from this office, Young Carers services and the Wellbeing services for
Warwickshire are delivered from community venues across the region. Carers Trust Heart
of England provides services throughout Coventry and WaTwickshire by teams of staff
based in their local areas and managed from one of the above stated offices.
The day-to-day responsibility of the organisation is that of the Chief Executive Offi￿r who
also provides support and advi￿ to the Trustees in business and strategic planning. The
Chief Executive Officer is supported by the Deputy Chief Executive Officer and the
Managers of the specific areas. They respectively manage their teams of advisors,
coordinators, assessors, administration staff and care support staff.
Page 12

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2026
Organisatlonal Structure- continued
Remuneration for staff, including key management personnel is reviewed annually taking
into account current minimum wage legislation and its impact on salary scales together
with a review of similar charitable organisations pay scales.
Related Parltles and Assoclations
The Charity is a partner of the Carers Trust. The Carers Trust was formed as a r8suIt of the
merger of the former Crossroads Association and the Princess Royal Trust for Carers. All
network partners of the Trust work to an agreed quality assurance standard and share the
same aims and objectives. In addition. the charity is registered with the Care Qualty
Commission as a domiciliary care agency providing regulated services and as such adheres
to the standards as laid down in the National Minimum Car£ Standards Legislation. Locally,
the registered manager and staff work closely with other charitable and statutory authorities
to further the intsrests of carers and those they care for. The Chief Executive Officer works
locally, regionally and nationally to promote the organisation and forge links with other
organisations to further the work of the charity.
Reference and Admln18tratlve Details
Registered Company Number:
Registered Charity Number:
Registered Office:
12A Canal Basin, St Nicholas Street, Coventry W Midlands CV14LY
Auditors
LDP Luckmans. Chartered Accountants, Business & Taxation Advisors.
1110 Elliot Court, Coventry Business Park, Herald Avenue, Coventry
CV5 6UB
03206963 (England and Wales)
1057024
Banks
Barclays Bank Plc, 25 High Street, Coventry CV13JH
Cambridge and Counties Bank, Chamwood Court, 58 New Walk,
Leicester LE16TE
CCLA, Senator House, 85 Queen Victoria Street, London. EC4V 4ET.
Nexa Law Limited, We Work, 5th Floor, 10 York Road, London SE1
7ND.
Investment House
Solicitors
Page 13

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Golng Concern
The Trustees have considered the reserves policy above and the working capital requirements for
the period of 12 months from the date of this report and have reasonable expectations that the
Charity has adequate reSour￿S to continue Èts operations for the foreseeable future. Accordingly,
the trustees continue to adopt the going concern basis for the preparation of the annual report and
accounts.
Trustee's Responslbllity Statement
The Trustees (who are also the directors of Carers Trust Heart of England for the
purposes of company law) are responsible for preparing the Report of the Trustees and
the financial statements in accordance with appllcable law and United Kingdom
Accounting Standards (United Kingdom GenerallyAccepted 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 resoUr￿S and application of resources, including the income and expenditure,
of the charitable company for that period. In preparing those financial statements, the
Trustees are required to:_
select suitsble accounting policles and then apply them consistently.
obseNe the methods and prlnciples in the Charity SORP;
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charitable company and to
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
hence for tsking reasonable steps for the prevention and detection of fraud and other
irregularities.
Page 14

Carers Trust Heart of England
Report of the Trustees
For year ended 31 March 2025
Statement as to Disclosure of Informatlon to Audltors
So far as the Trustees are aware, there is no relevant information (as defined by Section
418 of the Companies Act 2006) of which the charitable company's auditors are unaware,
and each Trustee has taken all the steps that they ought to have taken as a Trustee in
order to make them aware of any audit information and to establish that the charitable
company's auditors are aware of that information.
Audltors
A resolutlon to re-appoint LDP Luckmans as the Charity's auditor will be proposed at the
forthcoming Annual General Meeting.
The report of the Trustees has been prepared taking advantage of the small companies exemption
in the Companies Act 2006.
This report was 8pproved by the Board of Trustses and authorised for issue on 16th October 2025
and is signed o
s behalf by
Mr Dhiran Vagdia (Chair)
Page 15

Carers Trust Heart of England
Independent Audltors Report to the Members
For year ended 31 March 2025
Opinion
We have audited the financial statements of Carers Trust Heart of England (the 'charitable
company,) for the year ended 31 March 2025 which comprise the Ststement of Financial Activities,
the Balan￿ Sheet, the 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 (United
"ngdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
Give a true and fair vlew of the stats of the charitable company's affairs as of 31 March
2025 and of its incoming resources and applicatlon of resources, induding its Income and
expenditure, for the year then ended.
Have been properly prepared In accordance with United Kingdom Generally Accepted
Accounting Practices. and
Have been prepared in accordan￿ with the requlrement of the Companies Act 2006
Basis for oplnlon
We conducted our audit in accordan￿ with International Standards on Auditing (UK) (ISAS (UK)
and applicable law. Our responsibilities under those standards are further described in the
Auditors, responsibilities for the audit of the financial statement section of our report. We are
independent of the 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.
Concluslons relating to golng concern.
In auditing the financial statements, we have concluded that the Trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or conditions that, individually or collectively, may cast significant doubt on the Gharitable
company's abllity to continue as a going concem for a period of at least twelve months from when
the financial statements are authorlsed for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.
Page 16

Carers Trust Heart of England
Independent Audltors Report to the Members
For year ended 31 March 2025
Other information
The Trustees are responsible for the other information. The other infomiation comprises the
information included in the Annual Report, other than the financial statements and our Report of
the Independent Auditors thereon.
Our opinion on the financial statsments does not cover the other information and, except to the
extent otherwise explicitly stated in our repor( we do not express any fomi of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
informats'on and, in doing so, consider whether the other information is materially inconsistent with
the financial statements, or our knowledge obtained in the audit or othe￿ise appears to be
materially misstated. If we idantrfy such material inconsistencies or apparent material
misstatements, we are required to determine whether this glves rise to a material misstatement in
the financial Statements themselves. If based on the work we have performed, wa conclude that
there is a material misstatement of this other inft)rmation, we are required to report that fact. We
have nothing to report in this regard.
Opinions on other matters prescribed by the CompaniesAct 2006
In our opinion, based on the work undertaken in the course of the audit:
The information given in the Report of the Trustees for the financial year for which the
financial statements are prepared is consistent with the financial ststements, and
The Report of the Trustees has been prepared in accordance with applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon.
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Report of
the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006
requires us to 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 financial statements are not in agreement with the accounting records and returns. or
Certain disclosures of Trustees, remuneration specified by law are not made; or
We have not re￿iVed all the information and explanations we require for our audit. or
The Trustees were not entitled to take advantage of the small companies exemption from
the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Page 17

Carers Trust Heart of England
IndependentAuditors Report to the Members
For year ended 31 March 2025
Responsibilitles of Trustees
As explained more fully in the Statement of Trustees, Responsibilities, 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 ne￿SSary to enable to preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financlal statements, the Trustees are responslble for assesslng the charitsble
company's ability to continue as a going COn￿rn, disclosing, as applicable, matters related to
going concern and using the going con￿rn basis of accounting unless the Trustees either intend
to liquidate the charltable company or to ease operations, or have no realistic altarnative but to do
so.
Our responsibllltles for the audlt of the flnancial ststements
Our objectives are to obtain reasonable assurance about whether the financial statemants as
whole are free from material misstatement, whether due to fraud or error, and to issue a Report of
the Independent Auditors 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 aggregate, they could reasonably be expected to influence
the economic decision of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
Enquiring of managem8nt and employees, including obtaining and reviewing supporting
documentation, concerning the charity's policies and prO￿dureS relating to:_
Identifying, evaluating, and complying and laws and regulations and whether they were
aware of any instances of non-compliance.
Detecting and responding to the risk of fraud and whether they were aware of any actual,
suspected, or alleged fraud and
The Internal controls established to mitigate risk relating to fraud or non-compliance with
laws and regulations.
We identified areas of law and regulations that could reasonably be expected to have a material
effect on the financial statements from our general commercial and sector experien￿, discussions
with management (as required by auditing stsndards) and discussed wth management the
policies and procedures regarding compliance with laws and regulations.
Page 18

Carers Trust Heart of England
Independent Audltors Report to the Members
For year ended 31 March 2025
All identified laws and regulations were communicated throughout the audit team, and they
remained alert to any indications of non-complian￿ throughout the audit.
The most significant considerations for the charitable company were as follows:.
The Charity is subject to laws and regulations that affect the financial statements which
include financial reporting legislation (namely the Companies Act 2006), taxation legislation
and the Charities Act. We assessed the extent of compliance with these laws and
regulations as part of our audit procedures concerning items recorded in the financial
statements.
The Charity is also subject to other operational laws and regulations here the
consequences of non-compliance could have a material effect on the amounts of
disclosures in the financial statements through imposing fines or withdrawal of funding
contracts. Areas where this would have an effect include health and safety, Bribery Act
2010, employment law, data protections and child protection legislation (D8S checks for
staff and volunteers)
Auditlng standards limit the audit procedures to Identlfylng non-compliance of these laws and
regulations to enqulry of management and inspection of regulatory and legal corresponden￿, rf
there is any. Therefore, If a breach of operational regulations is not disclosed to us or evident from
relevant correspondence, and audit will not detect the breach.
To identify the risk of material misstatement due to fraud, we carried out discussions amongst the
audit team to assess areas where and how fraud might occur in the financial statements and any
potential indicators. The following areas were identified
Management override of controls through the posting of inappropriate accountlng entries or
journals
We do not belleve there is a fraud risk relating the revenue recognition as the revenue Is
straightforward, with limited opportunity for manipulation.
We did not Identify any additional fraud risks.
We tested the appropriateness of accounting journals and other adjustments made in th8
account's preparation based on a risk criteria.
Owing to the inherent limitation of the audit, there is an unavoidable risks that we may not have
detected some material misstatements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-complian
with laws and regulation is from the events and transaction reflected in the financial statement, the
less likely in the inherently limited procedure required by auditing standards would identify it. In
addition, as with any audit there remained a higher risk of non-detection of fraud, as these may
involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal
controls. Our audit procedures are designed to detect material misstatement. We are not
responsible for preventing non-compliance of fraud and cannot be expected to detect non-
compliance with all law and regulations.
Pa8e 19

Carers Trust Heart of England
Independent Audltors Report to the Members
For year ended 31 March 2025
A further description of our responsibilities for the audit of the financlal statements Is located on the
Financial Reporting Council's website at WW.frc.org.uldauditors responsibilities. This description
forms part of our Report of the Independent auditors.
Use of our report
This report is made solely to the charitabla company's members, as a body, in accordance with
Chapter 3 of part 16 of the Companres Act 2006. Our audit work has been undertaken so that we
might stats to the charitable company's members those matters we are required to state to them in
an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the charitsble company and the charitable
company's members as a body, for our audit work, for this report, or for the opinions we have
formed.
Mark Spafford FCA FCCA (Senlor Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited
Statutory Auditors
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB
Date: 297M Oc7oOLL qr.
Page 20

Carers Trust Heart of England
statement of Financlal Activities
(Incorporating Income and Expenditure Account)
For year ended 31 March 2025
Unrestrtcted Restrictsd
Fund$
Funds
2025
total
2024
Tolal
Notes
Income and Endowment8
Donations and LegaGies
Charitable activites
Other Trading acltwties
Investment Income
Other Income
41,712
1,996,255
11,935
74,298
5,828
8,180
542,043
49,892
45.302
2,538,298 2,422,730
12,141
1,895
74,298
66,842
14,623
8,205
8,795
Total
1130,028
559,224
2,689,252 2,544,974
Expendlturo
Raising Funds
Charrtable activrties- Direct costs
Charitable actiwties - Support costs
Governance Actrvities - support Costs
61,532
1,417,083
634,726
6,450
61,532
64,552
1,910,388 1,723,080
650,903
856,528
6,450
6,780
493,305
16,177
Total
2,119,791
509,482
2,829,273 2,650,938
Other Recogni8ed gainsl{Los8es} - Investments
(78,719)
(78,719)
140,239
Other Recognised gainsllLossesl - Revaluation
of freehold propety
50,000
Net Incomel{expendllure)
{18,482)
49,742
31,260
34,275
Transfer befvRen funds
19
71,801
53,319
1,801
(22,059)
31,260
34,275
Funds as at 31 Marth 2024
2,690,322
135,304
2,825,626 2,791,351
Funds as at 31 March 2025
2,743,641
113.245
2,856,886 2,825.626
Pa8e 21

Carers Trust Heart of England
statement of Financial Actlvlties
(Incorporatlng Income and Expenditure Account)
For year ended 31 March 2025
ststement of Financlal aGtivities for year ended 31 March 2024
Unrestrfctsd Ra8trfGted
Fund8
Fund#
2024
Not•8
Income and Endowmont8
Donations and Legacles
Char￿ble actlvt¢les
Other tradlng adivltles
Investment Income
Other Income
12,430
1,979,240
1,778
66,842
6,030
32,872
443,490
117
45,302
2,422,730
1,895
66,842
8,205
2,175
Total
2,066,320
478,654
2,544,974
Exp8ndlture
Ralslng Funds
Ch8rlt8ble actlvlles - Dlrect CO8ts
char￿bla actlvttles - Support costs
Gov8rnanr2 Actlvities - support Costs
84,552
1,350,749
815,882
6,780
84,552
1,723,080
856,526
6,780
372,331
Tol81
2,237,983
412,975
2,650,938
Oth8r Recognlsed galns- Investments
140,239
140,239
Net Incomel(exFendlturel
{31,404)
65,679
34,275
Transfer betsveen funds
19
65,379
33,975
85,379
300
34,275
Funds as at 31 March 2023
2,856,347
135,004
2,791,351
Funds as at 31 March 2024
2.690,322
135,304
2,825,626
Page 22

Carers Trust Heart of England
Balance Sheet
For year ended 31 March 2025
2025
2024
Notes
Fixed assets
Tangible assets
Investments
13
14
406,517
1,610,808
2,017.325
361,623
1,689,527
2,051,150
Current A88et8
Debtors
Cash at bank and in hand
15
40,823
1,208,606
1,249,429
104,312
1.076.987
1,181,299
Crodltors: amount falllng due wlthln one y•ar
16
{409,868)
(406,823)
Net Current A8sets1888 current Liabilitles
839,561
774,476
Net A88ets
2,856,886
2,825,626
Funds of the Charlty
Unrestricted Funds
- general funds
designated funds
19
19
2,463,641
280,000
2,435,322
255,000
Restricted funds
19
113,245
135,304
Total Fund8
2,856,886
2,825,626
These financlal statements were approved in accordance with the provision applicable to charitable
companies subject to the small companies, regime.
The flnancial statements were approved by the Board of Trustees and authorised for issue on 16th
October 202
d were signed on Its behalf by
Dhiran Vagdia - Chair
Stephen Cobb- Trustee
Page 23

Carers Trust Heart of England
Cash Flow
For year ended 31 March 2025
2025
2024
notes
Cashflow from op8rating activities
57,321
{178.058)
Cash flow from Investlng actlvltle8
Dividends and interest from investments
Proceeds from sale of Equipment
Purchase of IT equipment
Purchase of investments
Net cash flow from investing activltles
74,298
66,842
200
74,298
67,042
cash flow from flnanclng actlvltle8
Net incr•as81(decrease In cash and cash equlvalonts
131,619
(111,016}
Cash and cash equivalents at beginning of reporting period
1,076,987
1,188,003
Cash and cash equivalents at end of reporting period
1,208,606
1,076.987
Page 24

Carers Trust Heart of England
Notes to the Cash Flow
For year ended 31 March 2025
1. RECONCILIATION OF NET (EXPENDITURE)llNCOME TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2025
2024
Net incomelexpenditure for the reporting period as per the
statement of financi81 activities
adjustments for
depreciation charges
(gainsll losses on investments
(gains)Ilosses on fixed assets
dividends Inte￿St from investments
lossl(profit> on sale of fixed assets
(Increase)Idecrease in debtors
increasel(d8crease) in creditors
31,260
34,275
5,107
78,719
(50,000)
(74,298)
10,528
{140,238)
(66,842)
73,146
15,816
(104,743)
63,489
3,044
Net cash provld8d by operating activitles
57,321
1178,058)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2025
2024
Cash at bank and In hand
1,208,608
1,076,987
Total cash and ca8h equivalents
1.208,606
1,076.987
Page 25

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
1. ACCOUNTING POLICIES
General inforniatlon and basis of preparlng the financial ststements
Carers Trust Heart of England is a Company Limited by Guarantee, incorporated in England and
Wales. In the event of the charity being wound up, the liability in respect of the guarantee is
limited to £5 per member of the charity. The address of the registered Offi￿ is given in the charty
information on page 12 of these financial statements. The nature of the charity's operations and
principal activities are shown on page 4.
The financlal statements of the charitable company, which is a public benefit entity under FRS
102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountlng and
R8POrting by Charities: Statement of Recommended Practice applicable to charities preparing
their accounts in accordan￿ with the Financial Reporting Standards applicable in the UK and
republic of Ireland {FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The
Einancial..Reporting .Standar.tspplicable in_the..U.Land_Republic_o.f Ir_e.laDd.' .ar1d.￿e_&Mp_anIeS
Act 2006.
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 ststements 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.
Income recognltlon
All income is recognised in the Statement of Financial Activities once the charity has entitlement
to the funds, it is probable that the income will be received, and the amount can be measured
reliably.
In accordancewith the Charities SORP income received in advance and specified by the provider
as relating to specific accounting periods or alternatively which are subject to conditions which
are still to b8 met, and which are outside the control of the charity orwhere it is uncertain whether
the conditions can or will be met, are deferred or are recognised on an accruals basis to the
period to which they relate. Such deferrals are shown in the notes to the financial statements
and the sums involved are shown as creditors in the financial statements.
Pa8e 26

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
1. ACCOUNTING POLICIES - contlnued
Income from trading activities includes income earned from fundraising events and trading
activities to raise funds for charity. Income received in exchange for supplying goods and
services to raise funds is recognised when entitlement has occurred.
No amount is included in the financial statements for voluntear time in line with the SORP
(FRS102).
Income from government grants and other grants are recognised at fair value when the charity
has entitlement after any performance conditions have been met, it is probable that the income
will be received, and the amount can be measured reliably. If entitlement 18 not met these
amounts are deferred.
Investment Income is earned through both our Investment house, CCLA, and our bank accounts
wlth Barclays Bank PIC and Cambridge and Countles Plc.
Expendlture
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will
be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Imiere costs cannot be directly attributed to headings
they have been allocated to activities on a basis consistent with th8 use of resources.
Fund ralslng costs are those incurred in seeklng voluntsry contributlons and include the costs of
disseminating information in support of charitable activities
Governance costs are those which relate to the provision of governan￿ infrastructure of the
charity. Included within this category are costs associated with the strategic management of the
charity's activities and all trustees and committee costs.
Allocatlon and apportlonment of costs
Overheads and support costs hav8 been apportsoned on a basis consistent with the use of the
reSoUr￿s. INhere support costs are not directly related to contracts, such as costs relating to
Management, Finance and Accounts, Human Resources, IT and Office Facilities, the costs are
allocated to, each activity based on an apportionment basis.
Recognition of liabilities
Liabilities are recognised on an accruals basis in accordance with normal accounting principles,
modified where necessary in accordance with the guidance given in the Charities SORP.
Page 27

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
1. ACCOUNTING POLICIES - continued
Hlre purchase and leaslng commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities (SOFA)
on a straight line basis over the period of the lease.
Investments
Fixed asset investments are a form of financial instrument and are initially recognized at their
transaction cost and subsequently measured at fair value at the balance sheet date. Investment
gains and losses, whether realised or unrealised are combined and shown in the heading ' other
recognised gainsllosses
investments in the statement of financial activities. Short term
investments are classified as current assets and valued at current market value
Tanglble flxed assets
Depreciation is provided at the following annual rates in order to write off each asset over Its
estimated useful life
Freehold Propety
Improvements to property
Fixtures fittings and equipment
Freehold property policy
not provided
over the period of the lease
250/0 on reducing balance
- the charity does not depreciate assets that retain
their value over the period of ownership
Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include the
original purchase price of the asset and the costs attributable to bringing the asset to its working
condition for its intended use. All expenditure of a capital nature is capitalised at cost as fixed
assets with items Costing below £1,500 being fully expensed during the year of purchase.
Taxatlon
The charity Is exempt from corporation tax to the extent that its income and gains are applicable
to charitable purposes only. Value Added Tax is not recoverable by the Charity and is therefore
included in the relevant costs in the Statement of Financial Activities (SOFA).
Funds
General funds are unrestricted funds which are available for use at the discretion of the trustees
in furtheran￿ of the general objectives of the charity and which have not been designated for
other purposes.
Unrestricted designated funds are those ring-fenced for the initiatives supporting charitws
strategic objectives.
Restricted designated funds are funds which are to be used in accordan￿ with specific
restrictions imposed by donors, or which have been raised by the charity for particular purposes.
The cost of raising and administering such funds is charged against the specific fund
Investment income and gains are allocated to the appropriate fund.
Page 28

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
1. ACCOUNTING POLICIES - continued
Penslon costs and other post retirement beneflts
The charitable company operates a defined contribution pension scheme. Contributions payable
to the charitable company's pension scheme are charged to the Statement of Financial Activities
in the period to which they relate.
Financ5al Instruments
Financlal assets and liabilities are defined as baslc financlal instruments under FRS102. These
are measured at amortised cosL
Golng Concern
The Trustees have considered the reserves pollcy above and the worklng capital requlrements
for the perlod of 12 months from the date of this report and have reasonable expectation that the
Charity has adequate resources to continue its operations for the foreseeable future. Accordingly,
the Trustees continue to adopt the going concern basis for the preparation of the annual report
and accounts.
2. DONATIONS AND LEGACIES
2025
2024
Unrestrlctsd Restrlcted
Funds
Funds
Total Funds Total Funds
Donations
41,712
8,180
49,892
45,302
3. OTHER TRADING ACTIVITIES
2026
2024
Unrestrlcted Restrlctsd
Funds
Funds
Total Fund8 Total Funds
Fundraising Events
11,935
12,141
1895
Page 29

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
4. INVESTMENT INCOME
2025
2024
Unrestrlctad Restrlcted
Funds
Fund$
Total Fund8
Total Funds
Depos11 account Inte￿$t
Inveskn8nl dlvldends
28,348
45,950
74,298
28,348
45,950
74,298
21,794
45,048
66,842
6. INCOME FROM CHARITABLE ACTIVITIES
202J
Total
2024
Totsl
Unr•8lrl¢tsd Re8tflctsd
Local Authoflty contracts
other contracts
Grants
3,404
155,245
1,397,606
1,996,255
443,404
155,245
1,939,649
2,538,298
457,822
135,788
1,829,120
2,422,730
542.043
542,043
All Income from Charitable Activities relates to Care Serrfices and direct support to carers,
The above grants figures include Ihe following funding provlders:
Grant Provlder
Big Lottery- Young Carers
Big Lottery - Stars
Carers Trust
Local Authority
other grants
76,238
8,333
48,076
330,195
79,201
$42,043
78,238
8,333
48,076
1,727,301
79.701
1,939,649
82,085
77,432
1,859,600
10.003
1.829,120
1,397,106
500
1,397,606
Page 30

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
6. RAISING FUNDS
2025
Totsl
Funds
2024
Total
Fund8
Unregtrlctsd
Fund•
Restrlcted
Funds
Ralslng donatlon8 and legacla8
Staff costs
Support costs for fundralsing aciivitles
56.544
4,988
61,532
56,967
7,585
64.552
61,532
7. CHARITABLE ACTIVITIES - DIRECT COSTS
2026
Total
2024
Total
Unro•trl¢tod R••trlcted
Staff Costs
Trav81
Actlvty Costs
Grants to Carers
Training costs
D8predation
Protectiv8 8qulpm8nt
Lo8s on.disposal of Assets
Losg on revaluation of Assets
1,385,869
34,498
11,230
327,089
7,823
50,087
107.679
528
1,692,958
42,321
81,317
107,679
528
5,107
478
1,537,115
51,082
72,792
53,169
1,561
7,246
115
5,107
379
99
1,417,083
493,106
.1,910,388
1.723.080
Page 31

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2026
8. CHARITABLE ACTIVITIES- SUPPORT COSTS
2026
Totsl
2024
Totsl
Unrestrlcted Restrlcted
Staff Costs
Travel
Tralnlng
Premlses costs
Insuran
utiiitl83
405.583
5,632
21,894
17,403
15,738
8,008
405,563
5,632
21,894
17,694
15,738
8,1)J8
462,384
5,369
27,428
53,785
21,272
10,146
291
k l-;))
Telephones
Postsge and stsllonary
PR
IT costs
R8crultm8nt
other expenses
Repair8 and ren8W818
Imp81mient of propety
Bad debt provlsion
Legal and professional costs
23,694
5,618
16,762
61,387
9,264
17,191
4,305
4,094
27,788
5,618
19,803
69,355
9,264
17,228
4,580
31,329
4,230
24,128
73,001
17,655
16,949
7,194
73,146
3,041
37
275
196
22,071
196
22,542
471
28,028
634,726
16,177
650,903
856,526
9. GOVERNANCE
2026
totsl
2024
Total
Unrestrlcted Re8trlGtod
Audltors Remuneration
Training from Auditors
Trustees meeting costs
6,300
8,300
6,510
120
150
6.780
150
6,450
150
6,450
Page 32

Carers Trust Heart of England
Notss to the Accounts
For year ended 31 March 2025
10. NEf INCOMEI{EXPENDITURE)
Net incomel(expenditure) is stated after charging..
2025
2024
Auditors Remuneratlon8
Depreciation - Owned Assets
Deficlt on OisposaVimp8irment of Fix•d A886ts
6,300
5,107
6,510
10,528
73,146
11.TRUSTEES' REMUNERATION and BENEFITS
There were no Trustees. remuneration or other benefits for the year ended 31 March 2025
nor for the year ended 31 March 2024.
12.STAFF COSTS
2025
2024
W8g8s and Salarles
Soclal Security C¢)sts
Other Pension Cost8
1,938,720
161,979
54.386
2,155,065
1,865,452
140,291
50,723
1056,466
The average monthly number of employees during the year was as follows:
2025
2024
Chief Executive Officer
Practical support services
Youngladult carer information
Central Management support
Finance and administrats'on
49
30
51
28
10
91
91
Total number of employees eaming over £60,000 per year (including benefits) In the periods
is as follows;
2025
No.
2024
No.
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90.000
The total amount of remuneration received by key management personnel (including
employer pension and national insurance contributions) is £161,837 (2024: £213,829). The
charity Conside￿ its key management personnel comprises of 2 indNiduals (2024: 3).
Page 33

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
13.TANGIBLE FIXED ASSETS
Freehold
Propety
Improvements Flxtures Flttlngs
to Leasehold
& Equlpment
Prop8rty
2025
Total
COST
1st April 2024
Addltions
Disposalslimpaiment
Revaluation
31st March 2025
350,CKJO
42,330
392,330
(2,914)
(2,914)
50,000
400,000
39,416
DEPRECIATION
1st Aprll 2024
Charge for year
Di8PO8alllmpaiment
31st March 2025
30,707
5,106
2.914
32,899
30,707
5,1(
2,914
32,899
NET BOOK VALUE
31st March 2025
400,CIJO
6,517
408,517
31st March 2024
350,WO
11,623
381,623
The fre8hold proFety was revalued by the trusts8s during the period on an open mark8t ba81S.
This resulted in an increas8 In the carrying value by £50,000 to £400,000.
14. MANAGED INVESTMENTS
The charity set up an invesknent account with CCLA during the previous financial year,
2025
1,689.527
2024
1,549,289
Market value at 1 April 2024
Additions
Disposals
1,689,527
1,549,289
Unrealised gainsllosses on investments
-78,719
140,238
Closing value at 31 March
1,610,808
1.689,527
Page 34

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
16.DEBTORS
2025
2024
Trade Debtor8
Other Debtors
Prepayments
27,114
19,013
74,939
10,3
104,312
9,140
40.823
16.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade Creditor8 and provlslons
A¢¢Nals
Other Credltors
Deferred incoma (see below)
40,434
16,908
219,065
133.481
409.868
15,589
10,659
211,959
168,638
408,823
Deferred income
2025
2024
s at 1st Aprfl 2024
Amounts recelved In the year
Income utlllsed in the year
188,638
2,071,782
{2,106,957}
101,251
2,005,911
(1.938,5281
31st Marth 2025
133
168,636
Deferred income relatss trj contract Income deferred to fLrture pgriod8 as the Incom8 received
relatss specifically to the 2025126 accounting period.
17.LEASING AGREEMENTS
Minlmum lease payments under nonwc8ncellable operatlng leas8s fall due es follows.
2025
2024
Wthin one year
Between one and five years
In more than five years
1,426
1.599
1,595
2.986
4￿81
Page 35

Carers Trust Heart of England
Notss to the Accounts
For year ended 31 March 2025
18.ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Rgstrlcted
Funds
2025
2024
Fixed Assets
Current Assets
Current Llabilities
2,017,325
966,258
(239,942)
2,743,641
2,017,325
283,171
1,249,429
169,926
409,868
113,246 2,856,886
2,051.150
1,181,299
406,823
2,825.626
19.MOVEMENT IN FUNDS
Unr•8trfctsd D081gnated
Fund8
Fund8
R08trlcted
Funds
Total
Balance as at 1 st April 2024
Surplusl{Loss) for the year
Movement betrween Reserves
2.435,322
10,600
17.719
255,000
{29,082)
54,082
135,304
49,742
{71,801)
2,825,828
31,260
Closing Balance as 8t 31 st March 2025
2,463,641
280,000
113,245
2,856,886
Restricted - designated funds are funds which are to be used In accordance with specific
restrictions imposed by donors, or which have been raised by the charity for partiGular
purposes.
Unrestricted general funds are unrestricted funds which are available for use at the
discretion of the trustees in furtherance of the general objeotives of th8 charity and which
have not been designated for other purposes.
Unrestricted - designated funds are funds that have been ring-fenced for the initiatives
supporting charity's strategic objectives.
Page 36

Carers Trust Heart of England
Notes to the AGGounts
For year ended 31 March 2025
MOVEMENT IN FUNDS- contlnued
The restricted reserves are made up of
2025
2024
PCT
Enhanced
Hardshlp fund
Carers Trust Grant
83,242
29,103
100,924
29,103
4,977
300
900
113,245
135,304
The designated reserve is made up of
2025
2024
Sale and purchase of premises c08ts
Private Market Development
Funding for a trust and grants officer
Infrastructure Development
Governance Development
120,000
100,000
120,000
100,000
35,000
50,000
10,000
280,000
255,000
Page 37

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
20. MOVEMENT IN RESERVES
Transfer
betwaan
Fund8
1.4.2024
Income Expandltura
31.3.2026
Unrestrlcted Fund•
General Funds
Designated prem188s Fund
De51gnaled Prlvate Market Fund
De8lgnated Infrastructure Fund
088inganed Governance Fund
Deslgnated Trust 8nd Grants Fund
2.435,322 2.180,028
120,000
1CKI.000
2.189,428
17,719
2,463,841
120,CrfJO
11XI.IX)O
50,ofJ)
10,000
5,918
,80
10,000
35,CQO
2,690.322
29,082
,610
80,028
Re8trlctsd Fund8
Restricted Funds
135,304
559,224
509,482
(71,801>
113,245
Total Fund8
2,825,626
39,262
2,707,992
Prlor Year Movement In Reserves
Tran8fer
between
Fund8
Balance a•
Balanco a8
at 1.42023
Income
Expendlture
31.3.2024
Unr08trlcted Fund•
General Funds
Designated Premlses Fund
Designated Personnel Fund
Deslgnated Private Market Fund
Deslgnaled Penny Collard Centre Fund
Designated Trust and Grants Fund
Designated Custodian Fund
2,399,708 2,066,320
120,000
2.082,525
51,819 2,435,322
120,0(KI
100,000
1100,000)
13.560
100,000
100.000
35,000
1,639
2,666,3
13,580
1,639
2,097,72
35,0
2,066,320
66,
Restrlcted Funds
Re8lricted Funds
135,004
478,654
412,975
{85.379)
135,304
Total Funds
2,79
.36
2,644,974
Page 38

Carers Trust Heart of England
Notes to the Accounts
For year ended 31 March 2025
21. PENSION COMMITMENT
The Charity operates a defined contribution scheme for ts employees. The defined
contributions are paid immediately each month to the nominated fvnd of the respective
employees. The amount paid into schemes during the year amounted to £1,024 (2024:
£1,093). The total amount prepaid at 31 March 2025 was £15 (2022: £69)
22. RELATED PARTY DISCLOSURES
There were no related party transactions during the year ending 318t March 2025 (2024:
£1,920 to J Trace).
23. POST BALANCE SHEET EvE￿r
The Queen Victoria Road propety was sold on 22Tha Aprll 2025 for a value of £400,000.
24. ULTIMATE CONTROLLING PARTY
Carers Trust Heart of England is a charitable company limited by guarantse. The members
of the company have agreed to contribute £5 each to the assets of the company in the event
of the company being wound up.
ultimate control of the company rests with the Trustees who are also directors and members
of the company.
Page 39