Charlty reg151ratlon number 1069331 Company règlstration r*umb6r 03472501 (England and Walès) CARERS TRUST MID YORKSHIRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CARERS TRUST MID YORKSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees AJAHill T Carter R Livermore C Lylhgoe O Slaicu S Edwards P Ly81or (Appolnled 16 August 2023) (Appointed 25 October 2023) (Appolnled l January 2024) (Appolnt8d l J8nuary 20241 {Appolnted l January 2024) (Appolnted 12 August 2024) Senlorrnanagement MrNBee R Wilson E Hartley and V Slrafford Ch5ef Execullve Offlcar Flnance Manager Règls16red Managers Charlty humber 1069331 Company number 03472501 Rgglslered offlce Unll 9 Shaw Park SIIv8r Str881 Moldgreen HuddeTsfield Wesl Yorkshlre H05 9AF Audltor BK Plus Audll Llmlled 52 Sl Johns Lane Halifax Wesl Yorkshlre England HX12BW Bankers Royal Bank of Scnlland 27 Markel Pla¢6 Huddersfi6td Wesl Yorkshlre HD12AD
CARERS TRUST MID YORKSHIRE CONTENTS Page Trustees. report Slalemenl of Iruslees. r6sponsibllllles Independeiil audilols report Slatemenl of Ilnancial acllvlllos Balance sheet 10 stalemenl of cgsh flows 11 Notes lo Ihe flnanclal slal8ments 12-22
CARERS TRUST MID YORKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 Tiustees who are also Dir8ctoYs or the charily for the purposes of the Compan18s Act 2006, present Ihelr r8POrt with the financlal slalemenls of Ihe charity for Ihe year ended 31sl March 2024. The Iruslees have adopted lh8 pyovislons of Accounling and Reporting by Charities.. Slglemenl of Recomrnended Practice appllcable lo charilles pr8parlng Ihalr accouiils In accordonce wlih the Flnancial Reportlng Standard appllcable In the UK and Republlc of Iraland (FRS 102} {effeclive 1 January 20191. Vlslon To Ilslen and respond lo Ihe needs of vnp3id careis, provkllng meanlngful support, Iinprova Ihe qualliy ol Ihelr lives and onabl8 them lo acceBs the support Iliey need. MSssloii Our ml8sloii Is lo provld8 Ihe hlghest quality servicas lo unpald caiers in Klrklees, Cak16rd8le, Leeds and Wakefleld no maller Ihelr n8eds, background, culture or pref8r8nces. Publlc benefit We have ref8rrod lo 11)e guldancg ¢onialned in Ihe Charily Commission's general guldance on publlc benelll when revlewlng our alm und obje¢live8 and In planning our future acllvilies. In parllcular, lh6 Irustees conslder how plannad acllv511as wlll conlrlbulg lo lh8 alms and oblectlves they have s61, Achlev8ment5 and performance Charltable actlvltle Th6 pasl Iliianclal y8ar hag been a lal6 ol Iwo halves In many respects. Al lh8 be9innlng of the year, the organlsallon exp8rl8nc8d challenges wilhin recrullmenl wilhin all areas frorn th6 board lo cara support, With the exceptlon of a coupla of exSslSnq members. a new more experlenced board was recrulled, and iioliceably arg provldlng Inuch n8ed8d skllls In sleeilnu the Gh8rlly lo incTeas&d effici8ncl8S. Wllh olher Internal organlsallonal slruclural problems Ihat aros6, staff havg goné abov8 8nd beyond In ensurlng care pracllces, fiiianclal reportlnq have been mel and iiol dwlndled, and for Ihls w8 pralse Ihé comn)Ilmenl In havlng such a greal worklorcè In their iYedl¢alion. A chang8 of CEO took place al Ihe18tler part of 2023. All of the above changes have resulled In an increase In staffing costs. Over 94,000 hours of care support have been provlded lo carers and Ihelr fainillps Ihrovghoul, Kirklees, Wakefipld, Leeds and Calderda18. Wllhln these reglons, all exisllng conliactu31 and fiamawork agreements have he8n renewed Into Ihe nexl financlal year. Al the end ol the year, CTMY had 475 cllenls from chiklren lo adults. Our sorvlrKs to our clients Include 1-1 sesslons, group work for the elderly, an emergency servlc8. support calls, chlldron's aclivlty clubs on weal(gnds and n school holldays, (Over 100 children havlng benefilled from th8 dtsbs>. As 3131st March 2024, 119 eniployt3es Waro acllve In Iha organlsalion asslsllng delivering our servlces. Provldlng Iho highest quality of care 5Btvlces Is imporlanl lo Ihu organl¥allun. TD t>upporl Ihe IvaiTlb In this, CTMY hava conlinuad their training to SLtpport team niemb8rs In the delivery of professional, s8fe and I119h quality 3erviGe8 wllh 96• Compliance. We have placed gyealer emphasis on value 81)d culluye within the organisalion in Ih8 latter P8rt of Ilie year, enabling us lo build on the hours ol care wilh g lower number of employees. We have conlinued to audit our prablices (Icross care and HR, and have a number of Iinprovement proJeGIs ongoing. CTMY has continued lo work closely wllh commissloners and InspeGlloh bodles Includlng Klrklee5, Wakelleld, L66ds and Calderdale k)cal aulhoriiles, Ihe local Cllnlcal Comm15slonlng Groups, tha Wesl Yorkshlra Inlegraled Care Board, the Care Qualily Commlssion (CQC), the Office for Slaiidards In EducalSon, Chlldren's S8Nlces & Sl(ills IOFSTEDI, the International Organlsallon (or Slandardis81ion, and the Conlr8clors H8allh & Safely Assessmenl Scheme,
CARERS TRUST MID YORKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal overvlew Flnanolal poslllon durlng Ilie year the nel docroasc In fvnds was £137,948, taklng totAI funds al Ihe end of Ilie year 10 £742,592. Thls decr68sa in fuiids also Included a galn from inve6tmenls of £35,981. Ovei'all, Ihe lolal Incoime r8malns consls18nl wllh the prevlous financSal year. The principal 80urces of fundlng conllnue lo be the conlracls wllh local aulhoTilies in Klrklees, Leeds, Wakelleld arsd Calderda16 areas (of Ihe dellvary of caror resplle s&Nices. The support of th8 local aulliorllles remalns slrong and CTMY are In an 8%C8118nl poslllon lo aonllnu8 d8llvery of Ils care support and SeICeS fora number ofyears. The Trusle8s con¥lder CTMY lo be well posilionad to continue d8lbvering services under local aulhorily ¢onlra¢ls, havlng 8slabllsh8d a repulallon for reliability and quality. Nevortlieless, Olher avenues and opportunllles conllnue lo be explored In order io lessen the impact should any of Ihese conlraGls be reducad in scop8 or value in Ihe fuluro, Wilhln Ihls financial year, thera has been conslderable work done In r8specl ol hlslorl¢ bad dabl provislon and the board have taken the declsion lo wrile Ihls off wilhin 2023124. FINANCIAL REVIEW Investment pollcy and obJectlve8 CTMY seaks lo Inv8St surplus funds In fSxed Inleresl, eqully and prop8rty lund$ designed for charllles and mÉnag6d by profes51onal fund manag6rs, Includlng CCLA Fund Managers Llmlled. CTMY looks lo a¢hl8v8 the best r8lurns avallable from Ils Snveslmenls wh115t also seeklng lo malnlaln a spread of inveslmenl lypas wilh the inlenllon of r8duclnu Ihe level of exposure lo markel rlsks. Th6 Trustees hav8 assessed the major rlsks lo whlch th8 charlly Is expos8d and are satlsfied th81 systems ar8 In place lo mlllt4ale 8xposure lo the major risks. We Are aware as a board Ihal losses ara wldaspread, and would hope lo recuperate these losses In the next financlal y8ar. GIv8n the strong c88h p05111on ol th6 charity, Ihe board are ievlewing this lo make beller us8 of Ih8se funds subleGI lo a slrlngenl cashllow audll. Re8eives policy 11 Is Ihe pollcy of CTfvAY that unreslrlcted funds which have not been designated foi. 8 speclllc use should be malnlained al a level equlvalenl lo belween Ihree and slx months, of total unreslrlcted expendllura, The Iruslees conslder Ihal reserves al Ihls level wlll Ihal. In Iho evenl of a signlficanl drop in funding, Ihey will be able lo continue the Charlly's current acllvlllgs, whlle consldoralksn Is glven to ways iii whlch addillonal lunds ni8y b8 Talsed. Al Ihe year end, general unTeslrlcled funds were £569,107 (2023.. £707,055J. The requiiBd lavel of reserves Is bglween £566,531 £1,133,062, based on expendllure18vels (or 2023124, th& current lovol of unre8lTlcled reseTV88 Is thorefore wllhin the deslred range.
CARERS TRUST MID YORKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Slructure} governan¢? and management Governlng docum8nt The charlly Is conlrolled by its governing document, a deed of Irusl, and conslllule8 a Ilmiled Gompany, Ilmlled by guarantee, a5 dellned by the Companles Act 2LK)6. The charity Is a company limlled by guarantee and ts goveTned by ils M8morandum and Artlclgs of Assoclallon. Locally, Cros8roacSs Car6 began In 1Y83. The organlsalion became a company Ilmlled by guaranle81n Aprll 1998 and was known as Huddertslleld Crossroads - Carlng for CartsTS. On 4 Augusl 2009 Ils ndnie changed lo Crossroads C8re in Mld Yorkshlre. On 27 February 2014 ils n8m8 changed lo Carers Trusl Mid Yorkshlr8. New Artlcles of Assuclallon slnce w8r8 duly adopted in 2018, and 81nce on 13lh May, 2021, Th8 organlsalion work8 across Kirklees, Whkelield, Calderdale and North Leed5. The organisalion h8s coiilracls wllh l<lrkle83, Leed8 and Wakefield CounGII$, and is on the franiework with Calderd£le. Services are also provid8d lo carers through Ihe receipt ol donations lo Ihe organisatlon. Individual care packages can be provldod for Ihos who ohooso lo puroh88e care, Wh8n a vacancy arlses, candklales are sought vla word of moulh and adv8rflsemenls. Candldales are then InlérvSew8d for Ihelr sullablllly. All liL6slees, whan recrulled, undertake a planned InduGllon process, whlch Includes allendaiic6 al a Board meellng lo observ8 and hav8 lo agree lo a s81 codg of conduct In Ihelr respon91hlli118s, RecruSlmenl and appolnlmenl Is tjnderpinned by a skllls and 8xperlenc8 mapplng lo ensure the Board of Truste8,8 Is dlverse In Il's membershlp and represenlalive of the carers 11 support5 In Mld Yorkshlre. 11 Is worth nollng, th81 recrullme.nl for new IrLrslees and a Treasurer has also proved chaltenglng wilhln Ihls year, bul has been overcomé wllh an excellent care. flnance, operallonal and slraleglc sklll sel. Organlsatlonal slructur8 The charlly's organlsallonal slruclure consSsl8 of the Board of Trustees which, logellier wllh the Chl81 Execullve Ofllcai, form Ihs Man3gomenl Commlltee. Th1818 responsible for sotllng pollcy, provldlng 8lraleglc dlrecllon and the governanL8 of CTMY. Day lo day operallonal Inanageni6nl Is dologaled lo Ilie Chl8f Exe¢ullv8 Offlcer and th8 senlor management tg8m con818llng of: In18rlm Chlef Exocullve Offlcer- A Hlll Flnance Manager- J Ne81 Reoisl&Ted Managers - E Hartlay and V Slr8lford HR Manag8r- A Hawrot
CARERS TRUST MID YORKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Trustees Ilablllty None of the Iruslees has any beneflclal inleresl In the company. All of Ihe Irusle8S 8r6 m6mh6rs of the company and guarantee to conlllbule £1 In the event of a wlndlng up. REFERENCE AND ADMINISTRATIVE DETAILS Regisl&Ted Coinpany nuinber 03472501 (England and Wales) Reglslered Charlly number 1069331 Reglsleied offlL'tI Unll 9 Shaw Park Sllver Slreel Moldgr8en Hudd8rsfleld Wesl Yorkshlro HD5 9AF Trustees A J A HIII ICh81r & Inlgrim CEO} T Carter (Appolnled 16th Augusl 2023) R Livermore (Appuinled 25th Oclob812023) S Edwards (appoin18d 1s1 Janltary 20241 O Slalcu {appoinled Isl January 2024) C Lylhgoe {appolnled 1st January 2024) P Lysl8r lappolnled 12th Augusl 2024) N Tarball {R8slgned 16th August 20231 C O'Regan (Reslgned 30th September 2023) P Kirk IR8slgn8d 3181 Oclob8r 2023) W Ellls IReslgnEJd 8th Aprll 2024) G Roth IResign8d 23rd July 2024) Audltor$ BK Plus Audll Llmllèd Slalulory Audllor Chartered Accountants 52 Sl Johiis Lano Halifax Wesl Yorkshlre HX12BW Bllnkers Royal Bank of SLo118nd 27 Market Place Hudclerslield Wesl Yorkslilre HD12AD Key managemont Chief Executlve Offtcer- Mr N Bee Fln8nce Manager- R Wllson Registered Managers E Hartley and V Slratford
CARERS TRUST MID YORKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Acknowledgements Our dedlcaled 8mployees who go above and beyond Thos8 who give lo us via Glft Ald Those who make donathins 'ln Memoriam, Those Indlvlduals who generousty make donalions lo us, who are loo numerous lo mention The Irvslees, report was spproved by the Board of Trustees. AJAHIII Trust8¢ Data,,
CARERS TRUST MID YORKSHIRE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 Tha trusleas (who are also tho directors of Carers Trust Mid Yorkshire foi Ihe puiposes of company 18wI are responsible for pr8paiing Ihe R8port of the TTuslees and the financlal slalemenls In accordanc8 with applicable law nd Uniled Kingdom AcLourilirig Slandards {Uniled Kingdom Generally Accepted A¢Ul}lIng Pracllcg). Company18w requlieg the Iruslees lo prepare finandal slalemenls for 8ach finanaal year whlch glve a Iru& and falr vSew of the slate of affalrs of Ihb charllable company and of the Incomlng resources and appllcallon of resources, Including the income and expandilurè, of lh8 rtharltable company for Ihal pariod. In preparlng those linancial slalemenls, th8 trustees are requlred lo sel8cI sultable accounllng pollcl6s and Ihen apply th8m con61st8nlly; obseNe the methods and principle,% In the Charlly SORP; make judgemenls and esllmales Ihal are reasonable and prudenl; prepare the flnanclal stateinenls on the golng concern basls unless 11 Is InappropriAte lo presum6 Ihal Ihe charllable company wlll conllnue In buslness. Th8 Iruslaes ar8 r8sponslble for keeplng proper accounling records whlch d15close wllh reasonabl8 accuracy al any Ilhi8 the (Inanc121 poslllon ol the charllabl6 company and to enab18 them to ensure that the financlal slalemenls comply wllh tho Gompanles Act 2006. They ar8 also responslbl8 lor safeguardlng the asse18 of the charitable company and hence lor laklng rèasonable steps for the pr8v8nllon and detection of fraud and olh8r Irfegularillos, In 80 far as the tiusle8s are Bware: there is no relevant oudll inform81ion of which the ¢h8rllable company'8 audllois are unaware,, and the Iruslees have lak¥ii 811 steps Ihal they oughl lo have taken lo make Ihemselv8s aware ol any rel8vant gudll Inform81ion and lo eslabli8h Ihol Ihe auditors are aware of Ihal Infomiallon. AUDITORS The audllors, BK Plus Audit Llmlled wlll be proposed for ré-appolnlm8nl al Ihe forthcoming Annual General Meellng. Approved by order ol the Board of Trustees on i.¥..l.!011014 nd slgned on ils behalf by,. AJA Hlll - Trusloo
CARERS TRUST MID YORKSHIRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CARERS TRUST MID YORKSHIRE Oplnlon We have audlled the Ilnanclal slalemenls of Carers Trusl Mid Yorkshire (Ihe 'Charily') for the year ended 31 March 2024 whl¢h comprl8p the slalemenl of linanclaS acllvllles, the balance sheel, the sl8lemenl of cash flows and noles lo lh8 financial slalem8nls, 5ncludlng slgnlficanl accovnllng pollcles. The financial reporting framework Ihal has been applled In Ihelr preparallon la appllcable law and Unlled Kingdom Accounllng Standards, Inoludlng Flnancial Reporilng Standard 102 Tlie Fiiiancial R8POrtlng Slandard applicable In Ilie UK and Republlc ol Irelaiid (United Klngdom Generalty Accepted Accounting Pracllcel. In our oplnlon, the linancial stalemenls: glve a true and falr vicw of Ihe stale of Ihe charltable company's affalrs as al 31 March 2024 and of Ils Incomlng resourcas and appllcallon of resources, lor Ihe year Ihen ended,, have been properly prepared In accord8nce wilh Uni18d Kingdom Generally Accepted Accounting PraclSc8; end have beèn prepared In accordance wllh Ihe raqulremenls ol the Companies Acl 2006. Ba$1¥ for gplnlon We conducted oiir audll In accordance wllh Inlemallonal Slandards on Audillng (UK) IISAS (UKI) and applioablg law. Our rosponslbllilles under Ihn.8fs standards are further descilbed In Ihe Audllor's responslbilllies for lh8 8tJdil of Ihe flnsnclal stalemenls sec.lion of our reporl. W8 ara Ind8peiid&nl of Ihe Charity In accordance with the elhiaal reqLJlr8menls Ihal are relevanl lo our audll of the flnanclal 51alemBnls In the UK, Sncludlng the FRC'S Elhlcal Standard. and wg have fullilled our other elhlcaS responslblllues In accordanc6 wllh Iheso requlremenls. We bell8Vg Ihal the eudlt evldence w6 have obtained is suificlenl and approprlale lo provlde a bas1$ for our opinlon. Concluslon8 relatlng to golng concern In audlllng Ihg flnancial slalemenls, we have concluded Ihal the Irusleos, u$6 of the golno concern b8sls ol accounllng In the preparallon ol the nnencial slaleiiienls Is approprlale. Based on Ihe work we have perfomied, we have not Identified any malerlal uncertalnli8s r61allng lo events or condlllons Ihal, Indlvldually or collecllvaly. may cast slgniflcanl doubl on the Chadly's ablllly lo conllnue as a golng concern lor a perlod ol al least le1ve monlhs from when the financl31 slalemenls are aulhurlseid lor Issue. Our responslb11111&s and lh8 re8ponslbllltl88 of the Iruslees wilh resp8Ct lo golng conc8rn ar8 described in Ihe relevant s8cllons ol Ihls r8POrt. Other Informatlon Tha other Inlormallon comprls&s Ihe Inlormalion Included in the annual reporl Dlher than Ihu linancldl slalgm8nls and our auditor's report Ihereon. The Iruslaes are responslble for the other Informallon conlalned wllhln tha annu81 report. Our op5nlon on the flnanclal sl8lem&nls does not cover (lie other Infornialloii and we do not 8xprass any lo¥m ul assuranGe conclusion thereon. Our respon8ibllily is lo read the other Informallon and, in dolng 50, conslder whelher Ilie ollier Information Is Inaterlèlly inconslslenl with the financial statements or our knowledge oblalned In Ilie course of Ihe audit, or olhewlse appears lo be materl8lly mis81aled. If we klenllfy such maleiial inctsnsl8161)clas or apparenl malvrlal miss181enienls, we are required lo delermine whether Ihls glv8s rise lo a malerial misslaleni8nl In the linanclal slatemgnls themse8$, If, based on the work W8 hav& p6rformed, wg conclude Ihal Ihei'e Is a material mlsslalemenl of this other Inlorm81ion. we are requlred lo repori that facl. We have nolhlng lo report In Ihls regard. Matters on whlch we are requlred to report by exceptlon W8 have nothing lo report in tespeGI of th6 following niallers In ralallon lo whlGh the Charilie8 (Accounls and Reports) Regulali01i8 2008 requlre us lo report lo you if, in our oplnion: the Information glven In the finandal 5talamenls Is inconslslenl in any material respeel wllh Ihe Iru51ees' report. or sufficlenl accounllng records have nol been kept: or the linanclal 818lemenls are not in agreement wlth Ihe accounting records: o¥ W8 Ive i)ot received 811 th8 Informallon and explanations we requlre for our audll.
CARERS TRUST MID YORKSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CARERS TRUST MID YORKSHIRE Respon51bllltles of trustees As explalned more fully In 1he slalainenl ol trustees. I'esponslbillties, Ihe IFuslees, who are also the dlraclorts of th Charlly for the pu¥pose of company law, are responslble lor Ihe prep8rallon of11)e linBnclal slatements and for belng sallslied Ihal Ihey gSv8 a Irue and falr v18w, and lor such internal control as Ihe Iruslees dgtefmln8 Is n8c8ssary lo enable Ihe prepaTallon of flnancial slalemen1s that aro Iree from malerial misslalement, whether due to fraud or e¥tor. In pi'eparlng Iha flnanclal slalemenls, th6 Iruslees are responsible for assesslng the Charlly's ablllly lo conlinuo as a golng concern, dlscloslng, as appllcable, mall8rs related io golng concem and u8lng lh8 golng concorn basls of accounllng unless the Iruslees tsllh6r intend lo Ilqu5dale Ihe charllable company or to cease opeiallons, or have no reallsllc allernaliv6 bul lo do so. Audltovs responslbllltle8 for the audlt of the flnanclal statements We havo boon appolnled as audllor und8r secllon 144 of the Charllle5 Act 2011 and report In accordance with the Acl and relavant regulalions made or havlng e.ff8cI thereunder. Our oblecllves are to oblalii raasonable as8uranc6 about whelher Ihe flnanclal 51alements as a whole al'e free from malerlal mlsslalgment, whether du8 10 (raud or error, and lo Issue an auditOT'S report that Includ8s oui oplnlon, R8asonabl* assurance Is a high level ol assurance bul Is not a guar8nl8e Ihat an audit conducted In accordance wllll ISAS (UK) wlll always dete¢l a malerlal mlsstalement when 11 exlst5. Mlsslalemenls can arise Irom fraud or èrror and are consldared malerial11, Indlvidually or In Ihe aggr8gal8, they could reasonably be expeclad lo Influenca lh8 economlc declslons of users laken on th8 b2sis of these financlal slatemenls. The exlenl lo whlch our procedures aré eapable of detecting Irregularille8, Includlng fraud, Is d8la118d below. A furlher descrlpllon of our responsiblllll8s Is av8llable on Ihe Fln8ncl81 Reportlng Coun¢ll's websit8 Bl,. hllps'.11 www.frc,org.uklaudllorsr8sponslbllllle8. Thls descrlpllon forms part of our audllor'6 report. Use of our report Thls report Is made solely to th8 company's mèmbers, as a body, In accordanc8 wllh secllon 391 of the Coinpan18S Acl 2014. Our audil work has been under18ken so Ihal w Inlghl slate lo the rA)mpany's memb8rs Ihose mallers w8 are requlred lo slalf) lo them In an audllorfs r8port and lor no olher PUTpose. To Ihe fullesl exlenl permllled by law, we do iiol acc8pI nr assume responslbllily lo anyone other than tha company and tl)e company'5 mgmbers as a body, for our 8udll work, for Ihls r8POtI, or for the oplnlons we have formed. BK Plus Audlt Llmlted 22 Noventroe I. ?02 Chartered Certlfied Slatulory Audllor 52 Sl Johns Lane Halifax Wesl York8hlr8 England HX12BW BK Plus Audil Limiled is eliglble for appolnlmenl 88 8udilor of Ihe Ch2rity by virtue of Ils eliglblllly lor Bppolnlmeiil as audllor of a Gompany under section 1212 ul Ihe Companios Act 2006,
CARERS TRUST MID YORKSHIRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre8trl¢ted Unrostrltttèd funds funds 2024 2023 Notes Income from: Donallons and legacles Charllable acllvllles Olhor Iradlng 8clivllles Invgslmenls 73,210 1,989,893 6,682 22.411 49,5G3 2,019,794 2,627 21,040 Total Income 2,092,196 2,093,024 Expendllure on: Charll8ble acllvilies 2.266,125 2,099,756 Total expendlture 2.286,125 2,099,758 Nel g8lnsl{1058es) on Inveslmenl¥ 12 35,981 (45,426) Net expgnditure and movemenl In funds (137,9481 (52,158) Re¢onclllallon of funds: Fund b8lanc88 al l Aprll 2023 881,540 933,698 Fund balances at 31 March 2024 743.592 881,540 Th6 slalemenl of ftnanclal acUvlll8s Includ88 all galns and I$S68 iecognlsed In the year. All Income 8nd expendllure derlve from conllnuing acllvllles.
CARERS TRUST MID YORKSHIRE BALANCE SHEET ASAT31 MARCH2024 2024 2023 Notas Fixed assets Tangible asset$ Inveslmenls 14 15 11,281 598,679 15,156 562,698 609,960 577,854 Current assets Debtors Cash al bank and In hand 16 308,340 183,800 148,375 453,445 492,140 601.820 Creditors: amounls falling dua wlthln one year 17 {358.508) 1298,134) N&t current assets 133.632 303,686 Total assets less current Ilabllltles 743,592 881,540 Net ass8t8 excludlng p8n3ion liablllty 743.592 881,540 Thè funds of thè Charlty Unreslrlcled funds 743,592 881,640 743,592 881,540 Th8 company Is enlilled lo Ihe exempllon from Ihe audit requiremenl contalned In secllon 477 of th6 Companles Acl 2006, for the year 8nd8d 31 March 2024. although an audlt has been carried out undgr s8clion 144 of Ihe Charill&s Aa12011. Ths directors aoknowltsdge IhelT re5ponslbililles for compSylng wllh the fequlremenls of the Companies Acl 2006 wllh respect to accounling records and Ihe preparation ol financlal slat8m8nls. The members have nol required Ihe company lo oblaln an audil ol ils flnancial slalemenls under the requliemen15 of th8 Companlgs Act 2006, for Ihe year In quesllon In 8ccord8nGe wllh section 476. rhes8 financlal slalemenls have been prepared In accordance wllh the provlslons appllcab5e lo companles subject lo th8 small cornpanies regim6. The flnancial stalemenls were approved by the Iruslees on AJAHIII Trustee Company reglslratlon numbor 03472501 (England and Wales) 10-
CARERS TRUST MID YORKSHIRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note5 Cash Ilows from operating actlvltles Cash absorbed by operallons 23 {284,515} 198 fJ771 Invesflrig acllvltles Purchase of langlble Ilxed assets Inv8slm8nl Incoine received (7,541) 22,411 (2,0451 21,040 N8t CB3h generafed from Investlng aGtlvltios 14,870 18,995 Nèt cash u$8d In flnanclng actlvltlas Net deeréase In ¢ash and cash oqulvalent8 (269,645) {79,582) Cash and cash 8qulvalenls at beglnnlng ol year 453,445 533,027 Cash and cash equlvalents at ond ofyear 183,800 453,445 11
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Chaiily Informatlon Carers TrLÈsl Mld Yorkshlre Is 8 prlv81e compai)y limited by guarant88 Incorporated In England and Wales. The registered offic8 Is Unll O Shaw Park, Sllver Street, Moldgreen, Huddersfleld, Wesl Yorkshlro, HD5 9AF, q.q Accountlng convèntlon The linanaial sla18menls have been prepared In accordanc& wlth the Charlty's Igovernlng documentl, the Companlos Act 2006, FRS 102 "rhe Financial Reporllng Siandard 8pplicable In the UK and Republic of Ireland, I'FRS 102.) ond the Charlllgs SORP "Accouiillng and Reporting by Charlll88.' Slalenipnl of Recomin8nded Practice applle2ble lo charllies prei)adny their accounts In aGcordanc8 1th Ihe Financial Reportlng Standard appllcable In the UK and Republic of Irelaiid (FRS 1021" {effeclive 1 January 20191. Thts Charlty Is a PubliG Bonefil Enlily as defined by FRS 102. The financlol slalem8nls ar6 prepared in sl8rling. whlch 15 Ihe luncllonal curr6ncy of the Charlly. Monetary amounts In these flnanclal slalemenls ara rounded lo the nearesl £. Thè Ilnanclal slalemenls hava been prepared under lh8 hlslorlcal cosl convenllon, Iniodlll8d lo Include the revaluallon ol fTeehold properties 8nd to includo Inveslmenl propeylles and certain financlal Inslrumenls 81 falr valuel. The prlncip81 accounting pollctes 8dopled are sel out below. 1.2 Golng concorn Al Ilie Ilino of approvlng lh8 financlal stalemenls, the Irusleès have a reason3b18 8xpeGlallon Ihal the Charlly has adequale rosources lo conllnue In operallon81 exlslenee for Ihe foreseeabla (ulure. Thus the Iruslees conllnue lo adopl the going concern basis ol accounllng In preparing Ihe linancial slalemenls. 1.3 Charitable funds Unrestrlcled funds ar6 avallable for use at Ihe dlscretlon of lh8 trustees In furtherance of Ihair chaT51abS8 obleellves, Reslrlcled funds are sublécl lo speclflc condlllons by donors or granlors as lo how they may b8 US8d. Thg purposes and usès ol the restricted funds are s81 out In Ihe notes lo the financl3151alemenlg. Endowm8nl funijs are sublecl to specific condillons by donors Ihal lh8 pItal musl b8 malnlalned by the Charlty. 1.4 Income InLome Is recognlsed when the Charily Is lèg31W 8nti11od lo il after any performance condili01i8 have b8011 met, the amounts ¢8n be measured reliably, 8nd11 Is probable that Income will be recelved. Cash donations ere recognlsed on receipt. Olher donations ar8 reGogrilsed once 11)e Charily ha5 b88n nollfted of the donallon, unless performance conditions require d8f8rral ol lh& amount. Income lax recov8rable Iii relallon lo donalions recelvod under Gllt Aid or deeds of covenant Is recognised al the Ilm8 of the donalion. Legacles are iecognlsed on recelpl or 01heiSe If Ihe Chailly has been notified of an Impending dlslrlbullon. tho aniount is known, and Teceipl Is expeGled. If the amounl is i)ol known, Ihe legacy Is Irealed as conling8nl asset. 12-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aceountihg pollcleg (Contlnu8d) 1.5 Expendllure Expendilure is recognised once there is a legal or conslwcllve obllgatlon lo Iransfer economlc benefit lo a Ihlrd party,1118 probable that a Iransfer of economlc benefits wlll be requlred In selllem8nl, and Ihe Smounl of the obllgallon can be measured reliably. Expendllur8 is dassilied by acllvily. The cosls of each acllvlty are made up of the lolal ol direct costs and sliarcd cosls, including support cosls Involved In undertaklng oach activity. Dlrettl costs altrlbulab16 to a slngle acllvily are allocal6d direclly lo Ihal aclivily. Shared cosls whlch conlribule lo more than one acllvliy and support costs whlch are not allrlbulable lo a single acllvlly are apportioned between thos8 8cllvllle¥ on a bas18 conslslenl willi th8 use of resources. Central Blaff costs are allocated on the basls of Ilm spenl, and depreclallon Gharges are allocated on the portlon ol the asset's us8. 1,6 Tanglbla flxed assets Tanglble Ilxed assalg are Inlllally measured al cosl and subs8quantly measured at Cost or valuallon, nel of depr8clallon and any Impalrmenl Inss8S. Depreclailon Is recognlsed so as lo wlile off the cost or valuallon of 8SS8ls16ss Ihelf regldual values over Ihelr U5elul IIv85 on Ihe following bases: Le8sehold Improvem8nl8 Plant and equlpm8nl Flxlur8S 8nd flllings Over the remalnlng life of Ihè18ase 2501• on cost 2001• on cost The eharlly has a capllallsallDn pollcy of ¢apllalisng assel purchased cosllng In 8xcess of £500 1.7 Flxèd a$88t Investments Flx&d asset invoslmon18 are inllially measured al Ir8nsaclion prica axcludlny Iransacllon cosls, 8nd are subsequenlly measur8d al fair value al each reportlng da18. Changas In f8lr value are reLogril8ed In nel incomellexpendllure) for lh8 year. Tr8nsacllon cosls are expensed as incurred. 1.8 Impalrmant ot flxed assets Al each reportlng end dale, the Charlly revlews the ¢arrylng amounls of118 langlble assets lo delermlne whether thera is any Sndicalion that those assets have suffered an Impalrmenl loss. 11 any such Indie8llon exisls. th8 recoverable amount of the asset Is esliinaled order lo d81eimliia the exlenl ol Ilie Impalrm6nl 103s Ilf 8ny>. 1.9 Cash and cash equlvalenls C8sh and cash equivalents Include cash In hand, deposits held al call wllh banks, other short-lerm Ilquld inveslmvnls wilh origlnal malurilles of three months or less, and bank overdrafts. Bank ov6rdralls are shown wllhln borrowlngs In currenl Ilabllllies. 1.10 Flnanclal Instrumonts The Charlty has 61ecled lo apply the provlslons of SeBlion 11 '8aslc Flnancial Inslrumenls, and Seclion 12 'Olher Flnanclal Inslruments Issues, of FRS 102 to all of ils financial Instruments, Fln8nGlal Instruments are recogiiised in the Charl balarTh sheet when the Charlly becomes p8rly lo the contractual provlsion5 of Iha insliumenl. Flnanclal as8els and liabilities are offsel, wllh Ihe nel amounts presei)led In Ihe financlal slalemonls, whan thera Is a le.gally enforceable Yight to sel off the recognlsed amounls and there Is an Inl8n11on to s61118 on a not basls or lo realise Ihe assel Ènd sell18 the Ilabllily slmullaneously. 13-
CARERS TRUST MID YORKSHIRE NOTES TO THE FIMANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcl&s Icontlnued) 835iG fin8nclal assets Baslc fin2nclal assets, whlch Indude deblors aiid cash and bank balances, are Inlllally measured al Iransaallon prlce Includlng transaction cosls and are subsequenlly carrled al amortlsed cost uslng the effecllve nleresl method unless the arrangement constllutes a flnanclng IransacllDn, where Ihe IrAnsacllon Is Imoasured al the present value of the luluro re¢elpls dlscrJunl8d at a m3rkel ra18 of Interest. Financlal assels classSlled as roceivable wSlhln one y8ar are not amortlS6d. Baslc flnanclal Ilabilities Baslc ftnanGi81 liabilities, Including credllors and bank loans a In111811y recognlsed at Iransaclion unless the arrangem8nl constitutes 2 financlng Irans8cllon, where the debt Inslrumenl Is maasured al the presenl valLSa ol Ihe futuro payments dlscounted al a markol rale ol interesl, Financl81 Ilabllllles clas611iod as Payable wllhln one year are not amortlsed, D8bt Inslrum8nls are subs6quonlly carrÈed al amortlsed cosl, uslng the affecllve Inleresl Tale melhod. Trade creditors are obllgallons lo pay for goods of services that have bean acquired in tho ordlnary course of operalions from 8uppllers. Amounts payable are classified as current Ilablli118s if paymonl Is dua wllhln one ye8r or less. If nol. they are pre¥enlÉ)d as non-currenl liabilitles. Trade credllors are recognised Inlllèlly al Irans8clion price and subsequently mea8ur6d al 8morti68d cost uslng the effecllvo Interest method, D6i&cognltlon of flnanelal Ilablllllas Fln8ncial Ilabllllles are deiecognlsed when Iha Charltls conlraGlual obllg8lronG explre or ar8 dl6ch8rged or cance118d. 1.14 Employee benef Its The c081 of any unused hollday enlillempnl Is regnISed In the perlod In whlch the 8mploye8'8 88Nlce8 are r8celved. Termlnatlon benellls are r8cognls8d Immedialely as an axpenstt wh8n lh8 Charlty Is demonstrably comniliied lo terminale Ihe employmenl ol an employee or lo provide lermlnation benèlits. 1.12 Retlromant beneflts Paymen18 lo defln6d pA)nlrlbullon r8llr8ment benefll schemes are charued as an exp8ri86 as they fall duo. Crltlcal accountlng estlmates and judgements Iii Ihe appllcallon of tho Cl)arlly'S accounllng pollcles, the Iruslees are iequlrad lo mak8 ludgeinonls, 8slimal6s dnd a5sunipllons aboul the caTrylng amounl of assets and liabililles Ihal are nol readlly apparcnl from 011i8r sources. The esllmalas and associaled a%%umpllons 3r8 based on l)islorical experience and other laclors Ihal ale considered lo b8 relevanl. A¢lual results may dlff8r from these 6sllimales, Tho esllmales and undeilylng assumpllons are Trviewed on an ongolng basls, Revi.8lon8 lo accounllny estlmales are rocognlsed in the perlod In which the estimate is r8vlb"Ed wlierg 11)e revision aftecls only Ilial period, or In the period of the revl8ion and future periods where the revision affecis both current and future perlods. 14
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlon5 and legacles Unrestrlcted Unrestrlcted funds funds 2024 2023 Donallons ai)d glfls Grants 6.4S4 64,756 7,437 42,126 73,210 49,563 Donatlons and glfts Don81ions Qlher 3,279 5,175 3,489 3,948 8.454 7,437 Grant6 recelvablè for ¢ore actlvltl88 Making Carers Count 64,756 42,126 64,758 42,126 Income from charllabl6 actlvlllaB Unr95trlcted Unrestrlcted funds funds 2024 2023 Provlslon of Care seNlces Income from provision of 8ervices 1,98g,693 2,019,794 Income from other tradlng actlvitles Unrestrlcled Unrestrlcted funds fund5 2024 2023 Fundraislng events 6,682 2,627 15-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Iiicome Irom Invgstmen15 Unrestrl¢ted Uiirestrlcted fund5 funds 2024 2023 Inv8slmenl Income In18resl receivable 19,601 2,810 19,601 1,439 22,411 21,040 Expendllure on charltablè actlvltlé8 Provl8lon of Provlslon of care cara s8rylces $eNIcoS 2024 2023 Dlrecl costs Slaff c051s Depre¢lallon and Impalrmenl Insurance Llghl and heal Telephone Postage and slallon8ry Sundrles and bank charge R6nl and room hlr8 Ropalrs and maintenance Clebnlng Conipuler rep8lrs and mainlenance Advertlslng Incl. staff rocrullmenl Trainliig Motor and travel expenses Bad debts Legal and profe5slonal Njlanagemenl development B3nk Charges Accounlahcy Fees- BNA 1,857,439 11,416 15,817 15,811 21,244 6,643 20,3S7 41,520 8,471 3,753 54,051 24,171 17,542 60,298 21,176 27,936 781 2,464 29,969 1,778,912 13.970 13,590 9,316 24,677 7,476 13,936 42,823 5,169 3,888 43,693 9,454 17,116 74,289 83 15,145 1,664 2,41 2,240,85g 2,077,619 Share ofsupport and governance costs {see note 8) Support 25,266 22,1J7 2.266.125 2,099,756 Analysls by fund UnrestrlGled funds 2,266,125 2,099,756 16-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to a¢tlvlt16S 2024 2023 Audllors, remun8iallon Nallonal care Standard Reglslralion Association ol Carers Trust Fe8 7,700 8,747 8,819 7,350 8,637 6,150 26,266 22,137 Analyged between: Provision of care seNlces 25,266 22,137 Net movement In fund5 2024 2023 The nel movemenl In funds Is staled after charglngl(credlllngl. Depreclallon of own8d langlble fixed assels 11,416 13,970 10 Truytees The Chalr of the Iruslees was pald £14093 for seNlces as Inlerlm CEO and these amounts are Included Iii wag6s and salarles for the ended 31st March 2024 and £Nil for the year ended 31st March 2023, Truste¢s' expenses Tliere were no Iruslees, expenses pald for Ihe year ended 31st March 2024 nor for the yoar 6nd6d 3181 March 2023. 11 Employees The averago monthly number of employees durlng Ihe ye8rwas: 2024 Number 2D23 Number Care S&rvlces Management and Admlnlslrallon Emerggncy Servlces 117 21 113 22 Tolal 142 139 Employment costs 2024 2023 Wages and salarles Social 8eGurliy costs Olher pension costs 1,733,460 100,113 23.866 1,661,448 93,672 23,792 1,857,439 1,778,912 17-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 MARCH 2024 11 Employees IContlF)ued} There were no employe8s whose ai)nual remunaralion was niore Ihan £60,000, Remuneratlon of key management pe¥3onnel The r8munerallon ol k8y managemenl personnel was as follows: 2024 2023 Aggregate compensallon 221,905 169,827 The k8y management personnel In the organSsallon has und8rgon8 a slgnlflcanl restructure durlhg the* Ilnanclal year, They ara now Id8nllfled 8$ Chief Exoculive, Inl8rlm Chlèf Executive, R6glsler8d Manager, D8velopm8nl & Car6 Manage¥, HR & Tralnlng Man8ger and Flnancè Manager; lh6 laller belng und6rt8ken 8s a lob share lor Ihe malorlty of11)g financlal ygar as an Inlerlm measure unlll a subslanllve replacemenl was recrulled In May 2024, 12 Galhs and losses on Investment8 Unrestrlclad Unrostrlcted fiinds funds 2024 2023 Galnsl{losses) arlslng an: Revaluallon of Inv8Stm8nls 35,981 {45,4261 13 Taxatlon The charily Is exempl from laxailon on Ils 8cllvllles because all Ils Ihcorne Is applled for charllable purpos65, 18-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tanglble fixed asset6 Leag&hold Iniprovamonls Plant and Fl¥iures and equlpmont itin95 Total Cost Al 1 April 2023 Additions 35,932 6,979 32,243 562 10,776 78,951 7,541 Al 31 March 2024 42,911 32,805 10,776 86,492 Dapraclatlon and Impalrmeht At 1 Aprll 2023 Depr8c5allon charged in Ihe year 30,398 6.189 26,035 3,608 7,362 1,619 63,795 11,41B At 31 March 2024 36,587 29,643 8,981 75,211 Carrylng amount Al 31 March 2024 6,324 .7,162 1,795 11,281 Al 31 March 2023 5,534 6.208 3,414 15,156 15 FiKed asset Investments L18tod Invèslmoii18 Cost or valuatlon Al 1 Aprll 2023 Valuallon changes 562,698 35,981 Al 31 M8r¢h 2024 598,679 Carrylng amounl At 31 March 2024 598,679 Al 31 March 2023 562,698 2024 2023 Inveslmenls al fair value comprise: Valuallon In 2021 Vllluallon In 2022 Valuallon In 2023 Valuallan In 2024 Cost 46,747 47,356 {45,426) 35,981 514,021 146,747) {47,356} 145,426} 514,021 598,679 562,698 19-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 46 Debtors 2024 2023 Amounts falling due wlthln one year: Trade debtors Olhar debtors Prepaymenls and accruad incom8 285.896 4,506 17,938 124,759 b,415 17,201 308,340 148.375 17 Cr8dltors', amounts falllng dua withln one year 2024 2023 Notas Other laxallon end sodal secuilly Deferred Income Trade credllors Other ciedllors Accruals and def8rr8d Income 9.779 17q,771 9,671 95,613 11,300 18 184,109 28,842 121,122 7,700 358,508 298,134 18 Daferrad Income 2024 2023 Olher defeTfed incon18 184,109 171,771 Deferred Income is Included in 1118 flnancial slalemonls as fr)Iluw¥: 2024 2023 Deferred Income15 Included wllhln: Current liabllilles 184,109 171,771 Movenienls In Ihe year.. Defeired iiicoma gjt 1 Aprll 2023 Released from prevlous perlods Rosources delerred In the year 171,771 232,019 (60,248) 12,338 Deferred income at 31 March 2024 184,109 171,771 -20-
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Rellremenl beneflt schernes 2024 2023 Defin6d ¢onlribution schemes Cl)arg8 lo prolil or loss in respect of definèd conlribullon schemes 23,866 23,792 The Charity operale$ 8 d8fined conlribulion penslon schen)e for all qualltylng employ&6s. The assels of th& Scheme are hald separately from those ol the Charlly In an indopandenlly admlnlsleréd fund, 20 Unrestrlcted funds Tha unreslricl8d lunds of the charity comprlsa lh8 unexpended balances of donallons end granls which ar8 not 5ubl801 lo specific condilions by donors and grantors as lo how tliey may be us8d. These Inolude duslgna18d lunds which hav8 bo8n s81 asid8 oul ol unr8slrlGl8d funds by Ihe Iruslees lor speafic purposes. At 1 Aprll 2023 Incomlng résourcès Resources oxp6nded Galns and Al 31 March lossés 2024 General Fund D85ignaled Redundancy Fund Doslgnaled Fund - Beareavemenl and Emollonal Support 707,055 172,000 2,092.196 (2,266,125) 35,981 569,107 172,000 2,485 2,485 881,540 2,092.196 (2,266,125} 35,981 743,592 Prevlous year: At l Aprll 2022 Incomlng resources Rgsources expended Galns and At 31 March losses 2023 General Fund Designal6d Redundancy Fund Deslgnaled Fund - Beareaveinenl and Emollonal Supporl 75g.213 172,000 2,093.024 (2,099,756) 145,4261 707,055 172,OUC) 2.485 2.485 933.698 2,093,024 {2,099,7561 145,426) 881,540 21
CARERS TRUST MID YORKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Operating lease conimilmenls Lessee Al the reportlng end dale the Charlly had oulstsnding commilm6nts for fulure Inlnimum lease payments under non-cancellable operallng leases. whlch fall ¢Jue as lolk)ws'. 2024 2023 Wllhln on8 year Between two and tive yoars 8,000 24.000 8,000 8,000 32,000 22 Ralated party transactlons Thera were no dlsclosable related party Iran8aclions during the year {2023- non8>. 23 Cash gènerated from oporatlons 2024 2023 Deficll for Ihe y8ar (137,948> {52,158) Adluslm8nls for- Inv8slmenl Income recognlsed In sla18m6nl of flnenclal acllvllles Falr value galns and losses on Inv8slmenls Depreciation and impalrmenl of langible flxed assels {22,411) (35,981) 11,416 121,0401 45,426 13,971 Movomenls In worklng c8pilal'. Ilncrease)Idecre8se in debtors Increaselld6cre8soI In credilors Increaselldecreasel In deferr8d income 1159,965> 48,n36 12,338 157 124,6851 160,2481 Cash absorbed by opèratlons {2B4,515) {98,577) 24 Analysls of change5 in net funds The Charlly had no niaterlal debl dutlng the year.