Charity registration number 1071850 (England and Walesl Company registration number 03485330 WORCESTERSHIRE ASSOCIATION OF CARERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
WORCESTERSHIRE ASSOCIATION OF CARERS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr David Mann Mr David Sullivan Ms Clare Taylor Ms Ann Harrison Ms Michelle Lovett Mrs Catherine Whittall (Cfropted) Mrs Paramdeep Bains (Co-opted) Mr Keilh Smith (Co-opted) (Appointed 8 November 2024) (Appointed 8 November 2024) Charity number 1071850 Company number 03485330 Registered office Gf Suite 2 Polysec House Blackpole Trading Estate West Hindlip Lane Worcester Worcestershire WR3 8TJ Auditor Ormerod Rutter Limited The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
WORCESTERSHIRE ASSOCIATION OF CARERS CONTENTS Page Chair's Report Trustees, report 2-10 Independent auditor's report Statement of financial activities 14 Balance sheet 15 Slalement of cash flows 16 Notes to the financial statements 17-31
WORCESTERSHIRE ASSOCIATION OF CARERS CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 It is with great pleasure that I commend this annual report to you. The year has been an eventful one with significant changes in the macro-environmenl. With government changes in the UK and the USA, the impact of global con11icts. the significant uplift in national Insuran payments and the tightening on local govemmenl fvnding streams all havtng a kno(* on eff¢rt on local tharitip? wntinue to d¢J.iver their strategies. As a local charity delivering SUPPOrt for unpaid Carers in Worcestershire. WAC has had io be flexible in this changing environment. To this end the Board has been working with the senior leadership team to continue to evolve WAC'S strategy to take account ot, 2nd change, given these extemal challenges. Unpaid carers have been affected by the rise in the cost of living and the squeeze on benefits available, while the finaniial pressures on lo1 authorities has meant a reduction in available services and adult care support, making WAC a crucially important support system for unpaid carers. ThE trend continues to be for increasingly complex needs and situations being presented to staff and il is clear that need far outstrips available resourcing. Staff continue to manage these pressures but there are continuing concerns about tha impact on them and their well being. The strategic themes have been reviewed and we will continue to drive to be SLtstainable and fLrture fit, deliver effective communication, and continue to deliver strong and collaborative partnerships. How we approach these and implement these stralegic themes WFII evolve given the climate WAC and unpaid carers are working in. There are opportunities to be explored using Al to P051tively support productwity through easing the burden of administration and allowing for more time with unpaid carers. In addition unrestricted fijnds will be secured in order to fund activity that can widen e scope of WAC'S support for unpaid carers. And advantage will be tsken from the excellent work that continues on the Accelerating Refom Fund project. Despite the challenges. the year has also seen a number of achievements, highlighted In the Impact Repcrt. The majority of objectives set for the year have been achieved, and INAC'5 Positive profile continues as a result of strong partnerships with others. WAC continues to be proud of the seNices it deliveF5 and the Innovations it ideniifie$ to improve the support for unpaid carer5. None of the achievements OLrtlined in the Annual Report wryuld have been possible wthoul the dedication and commitment of our CEO: Karen Edwards, her senlor leadership team, and the staff and volunteers, for which we are very grateful. Our Chair, Diana Fulbrook stepped down at the end of March 2025 and all the Trustees and WAC Senior Leadership Team would like to Ihank her very much for the dedication and guidance Diana has given over her seven years Df service. Thanks also go to the Trustee Board who give ol their time freely to support WAC. All are passionate in their desire to support unpaid c2rers and bettertheir Circumstan$. 2024125 has been a year of changes that have brought challenges that WAC, thrDugh Karen Edwards guidance and leadership, have SussfUllY negotiated and I look forward to continuing to report on a thriving and effecttve organisation nexi year. Dawd Sullivan Chair of the Worcestershire Association of Carers Board of Tntee5 Date: .
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their Annual Report and financial stalements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Acl 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and activities Wision 'Every unpaid carer to be valued and empowered and to have access to personalised and high-quality support. living in carer friendly communities, Mission Statement To enable Carers to make informed choices through giving expert advice, information and support and to promote recognition of Carers by Servi providers and communities. Strdtegic Aims: Four strategic themes were agreed to deliver Worcestershire Association of Carer's charitable objectives for the 2024-25 financial year. These were.. l.To remain sustainable and future fit 2. To deliver effective communications 3. To develop and grow strong collaborative partnerships 4. To make unpaid carers the priority Monitoring of these themes is carried out on a quarterly basis at full Board meetings supported by two sub committees. Public benefjt 'For the public benefit, to relieve stresses experienced by Carers and people with physical. mental or sensory impairment within the family or home in Worcestershire, through the provision of information and support services and promotion of the needs of Carers. (from the Memorandum of Association of Worcestershire Association of Carers) Trustees have paid due regard to guidanGe issued by the Charity Commission on public benefit when planning the strategy and activities of the charity. Our business plan sets out how we will achieve our objectives, vision and mission.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perfomiance We are pleased to remain a valued local partner, working closely with bolh statutory and other voluntary organisations to secure support for carers and their communities in Worcestershire and beyond. A key example of Ihis is the Accelerating Refomi Fund project, slarted in 2024 and continuing into this year. 11 demonstrates whal can be achieved in true partnership and has delivered a long wished for opportunity to explore and potentially mitigate some of the issues experienced by carers regarding hospital discharge. At the same time, the external landscape remains volatile and challenging. During the year a major local charity, close in size and scope to us. went under., a sobering indicator of the current funding climate. We have ourselves experienced very late payments of some funds. stretching our financial and resource planning to our limits. Funding at all levels of government remains acute, wilh knock on effects for charities, their services and the welfare support available to individuals. At our annual Away Day, we were able to report achieving most of our plans. Those things that we couldn't deliver were largely due to external drivers beyond our control. For example, the expense and resources needed to achieve some cyber accreditations, which sets requirements that are extremely hard for charities to achieve without, for example, providing laptops and phones for all their volunteers. We can show we work to a high standard. and have implemented robust policies and practices, aided by our external IT consultants. In limes of scarce resources. we've made clear decisions about what is prudent and safe to do. Despite all these challenges and the complexity of the situations we are dealing with, we remain proud of what we have achieved. To support carers and their communities we: Held a database of 15,594 carers, and directly supported 3048 during the year, excluding newsletters and mailouts. Provided the Carers Hub helpline Published regular editions of Caring News- the final issue in the year reached 14,814 carèrs and 395 professionals. Issued 398 Carers Emergency Cards which meant if anything happened lo the carer, there was infomalion available to ensure that the person they cared for was safe and looked after. A total of 4081 cards were in issue at year end. Provided a wide range of information and training sessions for Carers. in person and online. Supported carers through the volunteer supported telephone befriending service Signposted and referred carers to a wide range of organisations or services Worked with w0stershIre County Council {WCC) Commissioners and the Public Health team to inform the delivery of the County's Carers strategy Worked closely with a wide range of local employers through CFEN (our Carer Friendly Employer Neork) to improve carer awareness. recognition and support for working carers. Recently hosted a Chamber of Commerce webinar on new mandatory unpaid carers leave legislation for working carers with over 35 employers attending. Provided Social Prescribing across all Reddilch GP Practices. 892 referrals were received. Continued to provide an Employee Assistance programme for staff
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Facilitated the carer-led Carers Partnership which continued its work overseeing the Worcestershire Carers Strategy and ensuring Carers have a voice in decisions affecting them Supported Carers to have their say on a range of strategic and other forums, including the- Carers Partnership All Age Carers Strategy Action Planning Group Learning Disabilities Partnership Board & Sub-Groups, including the Right Support for Carers, sub- group which recognises that carers of people with learning difficulties face particular challenges and the need to ensure the voice of these Carers continues to be heard LeDeR Priority Action Group All Age Disabilily Strategy Autism Partnership Board Dementia Strategy Group Worcestershire Safeguarding Adulls Board Carers Safeguarding Reference Group Herefordshire & Worcestershire Integrated Care System Carer Referen Group Herefordshire & Worcestershire Health & Care NHS Trust Equality Advisory Group Facilitated the Carers Action Worcestershire {CAW) consortium which aimed to bring together independent organisations in Worcestershire with an interest in Carers. Worked closely with partner organisations, within the voluntary and communily. privale and public seclor, to raise av•areness of the needs of Carers to help us reach more Carers and improve carer access lo our services. Supported Worcestershire Parent Carer Forum (previously Families in Partnership) acting as their fiscal host. An active member of the Worceslershire VCSE Alliance Forum, the ICS Academy VCSE Faculty group and the Healthwatch Worcestershire Board.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Sustainability and Funding In pursuit of these ain we Maintained our good relationships with statutory partners induding Worcestershire Council, the ICB and Health partners. Successfully moved to a fully cloud based IT provision. This has overcome a few key operational issues relating to cyber security and the operating speed of our internal systems. Reviewed our income generation and fundraising slralegy, developing a pipeline of opportunities and business possibilities. As always work to keep the charity running is essential. Diversification and generating non-restricted funding is vital to Worcestershire Association of Carers future. We have continued to look for support for both our charitable activities and for development funding to enhance our activities and work to a position where we are less reliant on public sector contracts. Completed implementation of a full cost recovery financial model, enabling us to make clearer strategic decisions about our finances and the services they support. Worked as a partner with Carers Trust. including as part of the Quality Reference Group and on the pilot phase of the Virtual Carers Centre, which will ultimately provide a comprehensive self-help option for carers Our primary funding source for the year was Worcestershire County Council, from whom £720,645 was received to deliver the Worcestershire Carers Hub and Carer Reviews. We continued to deliver Social Prescribing and Lifestyle Advice services in Redditch Nightingales and Kingfisher Primary Care Networks, with the Social Prescribing service. As part ofthe Herefordshire and Worceslershire Community Mental Health Transformation programme, we extended our specialist support to Carers who have or are Caring for a loved one experiencing severe or enduring mental ill health to the whole County Our retail shop, with a new manager in post. is building its capacity to contribute to our unrestricted funding. Community fundraising activities were run on a small scale during the year. We were very grateful for a number of unsolicited donations which enabled us to run additional activities for Carers We continued to apply for grants for both unrestricted and project funding. Grants were obtained from.. Carers Trust Sanctuary Group Fernhill Heath Baplist Church Grateful thanks go to all the organisations, companies and individuals who have given grants, gift5 or donations and raised vital funds for Worcestershire Association of Carers during the year. The charily adheres to the Fundraising Standards Board 'Code of Fundraising Practice.. No professional fund-raiser or commercial participators have been used in the last year. and there are currently no plans to use them in the ¢urrenl year. No complaints were received about fvndraising during the year
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 OtherActivities Recruited new Truslees to fill identified skills gaps Identified trustee training needs and refreshed the Trustee induction programme Quality standards We held the following standards-. Carers Trust Excellence for Carers Cyber Essentials Trusted Charity Worcestershire Vvorks Well Disability Confident Employer We conduct proud audits of the statutory work we undertake on behalf of Worcestershire County Council and this feeds into their quality and performance management framework.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ourvolunteers Worceslershire Association of Carers welcomes the support of volunteers and the charity is enriched by the diversity that volunteers bring. They add their qualities. skills and experience to those of Ihe staff. Volunteers may learn new skills and feel more involved with their community. Volunteers undertake a range of roles including acting as trustees, supporting our shop, making regular 'keep in touch, calls to carers, and facilitating carer groups around the county. Plans for the future Following a full strategic review in 20234, during 2024-5 task and finish groups were set up lo focus on key areas of work. For example, the end of the current shop lease coincided with reaching a key VAT threshold. Following options analysis it has been decided to continue trading, requiring the setup of a trading arm. We also recognised that Worcestershire Association of Carers has become a considerably different organisation since ils formation over 27 years ago and we want to ensure that the people and communities we support understand the range of our servi$ and where to come to for help and advice. 2025-6 will therefore see a new website and work to modernise our brand. while keeping carers al the core ofwhat we do. Our strategic priorities for 2024-2027 have been agreed as: To remain sustainable and future fit 2. To deliver effective communications 3. To develop and grow strategic priorilies 4. To make unpaid carers the priorily We have not significantly changed our strategic plans however some emphases have shifted, for example towards exploring the use of new technologies. An operational plan identified the key activities that will achieve these outcomes, and is updated annually. Progress against priorities is monitored by the Board and sub-committees and will be reported on in the next Trustee Annual Report.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review Financial Position During the year the organisation had net income for the year of £274,500 (2024 - net deficit of £39.184). Reserves of £601,169 (2024- £326,669) were made up of £400,069 (2024 - £141,077) restricted funds and £201,100 (2024- £185,592) unrestricted funds. Reserves Policy During the last year WAC has carried out a detailed review of ils ReseNes policy and made amendments to ensure that the level of reserves contain sufficient funds to ensure that all contingent liabilities are covered. The reserves policy takes into account both the financial commitments to existing projects and notice periods from our funders, which at the present time equates to three months. The broad headings for the items covered in the calculation are: Potenlial costs of winding down operations Potential costs for exiting Retail operations Business as usual costs to cover a minimum of three months operating costs Contingency costs for Capilal expenditure As at 31 March 2025, as a result of the detailed calculation, the required level of reserves stood at £67,819 against the actual level of £167,475 free reserves, so there is currently no shortfall in the organisation's reseNes. This calculation is reviewed regularly and discussed at both Financial Sub Committee and Board meetings. In the event of any significant shortfall detailed plans will be put in place to ensure the reserves are replenished. The aim of the reserves policy is to maximise progress towards meeting our objectives whilst balancing the need for continuity and consistency of the work undertaken by WAC. Structure, governance and management Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee. as defined by the Companies Act 2006 Governance The Board of Directors and Trustees has overall responsibility for directing the work of the Association. The Chief Executive reports to the Board. The Trustees, who are also the direclors for the purpose of company law, and who served during the year and up to the date of signature of the financial Statements were-. Mrs Diana Fulbrook (Resigned 31 March 2025) Mr David Mann Mr Colin Archer Mr David Sullivan Mrs Miranda Peel Ms Clare Taylor Miss Berenice Brown Mr Srinivas Koduri Ms Ann Harrison Ms Michelle Lovett Mrs Catherine Whittall (Co-opted) Mrs Paramdeep Bains {C¢>OPted) Mr Keith Smith (Co-opted) (Resigned 31 July 2025) (Resigned 20 September 2024) (Resigned 18 March 2025) (Resigned 30 June 2025) (Appointed 8 November 2024) (Appointed 8 November 2024) Selection of Directors and Trustees Appointments are made by election at the Annual General Meeting following requests for nominalions from members up to a maximum of e1Ve. The Board can co-opt up to a further members during the year.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Qualifying third party indemnity provisions The Article5 of Association of the charity include a provision that (subject to the exemption5 required by the Companies Act) no Trustees or other officers of the company shall be liable for any losses of Ihe charity, except in instances of fraud or wilful wrong doing. Responsibilities of Trustees Role descriplions have been produced for all Trustee roles based on Charity Commission Guidance and these were last reviewed in 2020. Performance against responsibilities is monitored by the Chair through annual appraisal meetings with Trustees. The Association also has a Trustee Link scheme in place. The central purpose of a Truslee Link is to provide Trustees with the opportunity lo gain a grealer insight into specific WAC activities. Thi5 will help to inform Truslees when contributing lo strategic decisions. More specifically. WAC recognises that the benefits to linking Trustees with areas of WAC activities include= Extending Trustees. knowledge of staff and the breadth of WAC activity Familiarising Trustees with Ihe Association's physical environment Providing an opportunity for staff and volunleers to meet informally with Trustees Helping Trustees to develop in-depth knowledge of areas of WAC activities (including quality issues and targets) Allowing Trustees to Use their skills and experience to benefit the Association direcuy in specific areas In addition, the Association has named Trustees responsible for Whistleblowing and Complaints. Policy for training Trustees On appointment, Trustees go through a documented induction programme Covering all areas of responsibility. Trustees are appraised annually by the Chair and development needs are identified as part of that process. Board and individual development needs are summarised in a report lo the Board and the CEO and Chair produce training and development plan. Truslee meetings which take Pla beeen Board meetings are also used as an opportunity to develop Trustees. The Board also carries out an annual self-assessment of governance against Charity Commission standards, and any training and development needs identified are included in the governance a¢tion plan. Management The Trustees delegate Ihe day-to-day management, Ihe development of strategy and overall leadership of the harity to the Chief Executive. The remuneration of key management personnel is set by the Board of Trustees. Senior managers ofthe Association= Chief Executive offir- Karen Edwards Service ManagerlDeputy CEO- Mel Smith Finance Manager- Natasha Davies Members - 1st April 2024 to 311Jt March 2025 - At the end of March 2025 mernbership stood at 1,787 members.
WORCESTERSHIRE ASSOCIATION OF CARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk Management The Trustee Board regularly monitor and review the operational and financial risks to which the Chamty might be exposed, through the corporate Risk Register. The register identifies the main areas of risk. their likelihood and impacl on the Charity. The main risks to WAC. as identified by the Trustees are: Carer numbers- Carers needs not being met by not using WAC Servi5, due to lack of awareness or our coverage aO$S the county. Quality Service Provision- Insufficient staff or volunteer levels could mean we are not able to deliver high quality serviS. Policy influence - having a lack of influence over policies affecting carers and planning of swices could lead to a poor level of Service. Resources - losing major contracts and having insuffic4ent resources could mean we fail to deliver services to Carers, Sustainable Future- WAC needs to ensure its future through in¢ome generation. Govemance - the organisation needs to ensure it has strong govemance and effective leadership and sUsOn planning. Tru5lees are satisfied that systems and procedures are in place to mitigate exposure to the major risks. ststement of Trustees, respon5ibilitie5 The Trustees. who are also the directors of Worcestershire Assoaation of Carers lor the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praolicej. Auditor In accordance with the Company's articles, a resolution pr¢posing that Qmierod Rutter Limited be reappointed as audttor of the company will be put at a General Meeting. The Trustees, report was approved by the Board of TtU5tees. Mr David Sullivan Trustse Date.. LG: 01..èo.aE.............. 10-
WORCESTERSHIRE ASSOCIATION OF CARERS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTERSHIRE ASSOCIATION OF CARERS Opinion We have audited the financial statements of Worcestershire Association of Carers (the 'charily'l for the year ended 31 March 2025 which comprise the statement of financial activities. the balance sheel, the statement of cash flows and notes lo the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Repothng Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Praclice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resour$, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements ofthe CompaniesAct 2006. Basis for opinion We conducted our audit in accordance wilh International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with Ihe ethical requirements thal are relevant to our audit of the financial statements in Ihe UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of ac¢ounting 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 charity's ability lo continue as a going concem for a period of at least twelve months from when the financial statemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. other information The other information comprises the information included in the annual report other Ihan the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not covei the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other infomiation and. in doing so. consider whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be malerially misslated. If we identify such material inconsistencies or apparent material misstalements, we are required to delermine whether this gives rise lo a malerial misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report thal fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulation5 2008 requires us lo report to you if, in our opinion- the information given in the financial statements is inconsistent in any material respect with the Trustees, report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records; or we have not received all the information and explanations we require for our audit. 11
WORCESTERSHIREASSOCIATION OF CARERS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WORCESTERSHIRE ASSOCIATION OF CARERS Responsibilities of Trustees As explained more fully in the stalement of Trustees, responsibilities, the Trustees, who are also the directors of Ihe charity for the purpose 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 neSSary to enable the preparation of financial slalements that are free from material misslatemenl. whether due to fraud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters relaled to going concern and using the going oncern basis of accounting unless the Trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extenl to which our procedures are Capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the charitable company, we identified the principal risks of non-compliance with laws and regulations including those that have a direct impact on the preparation of the financial statemenls and the extent to which non-complian might have a material effecl on the financial stalements. Audit procedures performed included discussions with management. review of board meeting minutes. testing of journals, designing and performing audit procedures and challenging assumptions and judgements made by management in relation lo accounting estimates. There are inherent limitation5 in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are nol closely related to events and transactions reflected in the financial statements. Also, the risk of not detecling a material misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberale concealment by, for example. forgery or intentional misrepresentations. or through collusion. A further description of our responsibilities is available on Ihe Financial Reporting Council's website at.. https:11 www.frc.org.uklauditorsresponsibilities. This description forms part of our audilor's report. 12-
WORCESTERSHIRE ASSOCIATION OF CARERS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WORCESTERSHIRE ASSOCIATION OF CARERS Use of our report This report is made solely to the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charity and Ihe charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Colm McGrory FCA Isenior Statutory Auditor) for and on behalf of Orn)erod Rutter Limited A.l!ola025 Chartered Accountants ststutory Auditor The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY 13-
WORCESTERSHIRE ASSOCIATION OF CARERS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Notes Income from: Donations and legacies Charitable aclivities Other Irading activities Investments 4,846 2,774 88,277 7.538 4,846 1,403,193 1,405,967 88.277 7,538 4.938 4,938 20,108 1,221,233 1,241,341 81.112 81,112 5,139 5,139 Total income 103.435 1,403.193 1,506,628 111,297 1,221,233 1.332.530 Expenditure on: Raising funds Charitable activities 85,667 2,260 1,144,201 85,667 1,146,461 74.897 54.911 74,897 1,241,906 1,296.817 Total expenditure 87,927 1,144,201 1.232.128 129.808 1,241,906 1,371,714 Net in¢omel(expenditure) 15,508 258,992 274,500 (18.511) (20.673) (39.184) Transfers beeen funds (5,773) 5,773 Net movement in funds 10 15,508 258,992 274.500 (24,284) (14,900) (39,184) Reconciliation of funds: Fund balances at 1 April 2024 185.592 141.077 326,669 209,876 155.977 365,853 Fund balances at 31 March 2025 201,100 400,069 601,169 185.592 141,077 326,669 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies Wlth the requirements for an income and expenditure accounl under the Companies Act 2006. 14-
WORCESTERSHIRE ASSOCIATION OF CARERS BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Note5 Fixed assets Tangible assets 14 13,628 25.059 Current assets Debtors Cash at bank and in hand 15 91,921 566,227 139.507 230.677 658,148 370.184 Creditors: amounts falling due within one year 46 (66.607) (65,409) Net current assets 591,541 304,775 Total assets less current liabilities 605,169 329.834 CredStors: amounts falling due after more than one year 17 (4,000) (3,165) Net assets 601,169 326,669 The funds of the charity Restricted income lunds Unrestn'cted ftjnds 19 20 400,069 201,100 141.077 185.592 601.169 326.669 The company is entiued to the exemption from the audit requirement contained in section 4T1 of the Companies Ad 20C6, for the year ended 31 March 2D25. The directors acknedge their responsibilities for complying the requirements of the Companies Ac* 2006 with respect to aoUnting records and the preparation of finanrial statements. The members have not required the company to obtain an audit of its financjal statements under the requirements of the Companies Ad 2006. for the year in question in accordance wtlh section 476. These financial statements have been prepared in accordance wlih the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the TTUStees on .. .1&: oq. 2015 Mr David Sullivan Trustse Company registration number 03485330 (England and Wales) 15-
WORCESTERSHIRE ASSOCIATION OF CARERS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated froml(absorbed by) operations 24 331,864 (2,8741 Investing activities Purchase of tangible fixed assets Investment income received (3,8521 7,538 (12,402) 5,139 Net cash generated fromllused in) investing activities 3,686 (7,2631 Net cash generated from financing activities Net increaselldecrease) in cash and Cash equivalents 335,550 {10,13n Cash and cash equivalenls at beginning of year 230,677 240,814 Cash and cash equivalents at end of year 566,227 230,677 16-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charity infomiation Worcestershire Association of Carers is a private company limited by guarantee incorporated in England and Wales. The registered office is Gf Suite 2 Polysec House, Blackpole Trading Estate West. Hindlip Lane. Worcester, Worcestershire, WR3 8TJ. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, Ihe Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charilies preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The harity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in slerling, which is Ihe functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slalements have been prepared under the hislorical cost convention, modified to include Ihe revaluation of freehold properties and to include investment properties and certain financial instruments al fair value. The prtncipal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricled funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the re51ricled funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance Conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charily has been notified of the donation, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of Covenant is recognised at the time of the donation. Stocks of undistributed donated goods are not valued for balance sheet purposes. Income from government and other grants are re¢ognised at fair value when the charity has entillement after any perf0rrnan conditions have been met. it is probable thal the income will be received and the amount can be measured reliably. If entitlement is nol met then these amounts are deferred. Income from shop sales represents the sale of donated goods recognised at the point of sale. 17-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) 1.5 Expenditure Expenditure is recognised onGe there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attribulable to a single aclivily are allocated directly lo Ihat activity. Shared costs which contribute to more than one activity and support Costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Assets costing £500 or more are capitalised as langible fixed assels and are carried at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to wrile off the cost or valualion of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Straight line over 5 years and 3 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in Order to determine the extent of the impairment loss (rf any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown wilhin borrowings in Gurrent liabilities. 1.9 FinanGial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Inslruments Issues. of FRS 10210 all of its financial instruments. Financial instruments are recognised in the charity's balan sheel when the charity becomes party to the contraclual provisions of Ihe instrument. Financial assets and liabilities are offset, with the net amounts presented in Ihe financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise Ihe asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost Using Ihe effective interest melhod unless Ihe arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 18-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting poliGies (Continued) 8asic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at Iransaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If nol, they are presented as n0n-cuent liabilities. Trade creditors are recognised inilially at Iransaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when thè charity is demonstrably committed to terminate the employment of an employee or to provide termination benefrts. 1.11 Retirement benefits Payments to defined conlribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Leases Rentals payable Ltnder operaling leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. Crltical accounting estimates and judgements In the application of the charity's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results May differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whiGh the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both currenl and future periods. Critical areas of judgement The allocation of staff costs between individual unrestricted and restricted funds is based on Ihe estimated split of staff time for each individual employee of the charity. 19-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestrictsd Unrestricted funds funds 2025 2024 Donations and gifis 4,846 4,938 Income from charitable activities Unrestricted Restrictsd funds funds 202S 202S Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Charitsble activities Sector consultancy work Social work placemenls Performance relaled grants 2,774 2,774 9,208 4.480 9,208 4.480 1,403,193 1,403,193 6,420 1,221,233 1,227,653 2,774 1,403,193 1,405,967 20,108 1,221.233 1,241,341 Perfomiance related grants analysis 2025 2024 Worcestershire Counly Council NHS Herefordshire and Worcestershire Clinical Commissioning Group Accelerated Reform Fund Sanctuary Housing Redditch Borough Council VSCE Alliacne Social Prescribing Redditch Projecls Worcestershire Children First- Families In Partnership Lifestyle Advisor Redditch Projects other 720,645 82,335 226.953 2.900 12.500 655,645 82,335 25.000 27,266 337,187 28,385 57,513 14,322 288,616 69,244 1,403,193 1,227,653 20-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other trading activities Unrestricted Restricted funds funds Total Unrestricted funds 2025 2025 2025 2024 Shop income 88,277 88.277 81,112 Investments Unrestricted Unrestricted funds funds 2025 2024 Bank interest receivable 7.538 5,139 Raising funds Unrestricted Unrestricted funds funds 2025 2024 Other Irading activities Rent Premises expenses Events and marketing Staff costs Light and heat Insurance Sundry expenses 17,000 8,377 20 50,023 5,816 1.619 2.812 17,000 5,118 20 39,114 5,708 5.685 2.252 85,667 74,897 21
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities 2025 2024 Direct costs Staff costs Depreciation and impairment Rent Insurance Utilities Postage. stationery and office expenses Premises and IT costs Facililalor costs Professional and consultancy fees Subscriptions Travel costs Carers costs Carers news Room hire Staff recruitment Sundries 927.046 15.283 19,430 3,181 18,409 11,067 80,443 4,205 3,109 4,673 7.447 8.158 16,826 2,740 1,683 16,647 1,080.501 18,299 20,351 2.881 20.384 10,085 53,257 15,531 3,054 4,017 5,441 17.839 15.639 2,904 1,698 19,723 1,140,347 1,291,604 Share of support and govemance costs (see note 9) Governance 6,114 5,213 1,146,461 1,296,817 Analysis by fund Unrestricted funds Restricted funds 2,260 1,144,201 54.911 1,241,906 1,146,461 1,296,817 Support costs allocated to actlvltles 2025 2024 Govemance cosls 6,114 5,213 Analysed befvleen: Charitable activities 6,114 5,213 -22-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities (Continued) 202S 2024 Governance costs comprise: Auditors, remuneration 6,114 5,213 6,114 5,213 10 Net movement in funds 2025 2024 The net movement in funds is slated afier chargingl(erediting)'. Fees payable for the audil of the charity's financial statements Depreciation of owned tangible fixed assets 6,114 15,283 5,213 18,299 11 Trustees None of the Trustees (or any persons connected with them) received any remuneration for Iheir services during the year, and reimbursements were made to 1 trustee totalling £271 (2024- £432) for recruitment costs. 12 Employees The average monthly number ofemployees during the year was.. 2025 Number 2024 Number 44 53 Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 889,003 61,556 26,510 1,019,127 70,058 30,430 977,069 1.119,615 During the year, the charity made redundancy and termination payments amounting to £2.042 (2024: £Nil) wilh respect to 2 (2024= Nil) individual cases. Key management personnel The key management personnel are represented by 5 employees. The lotal employee benefits of the key management personnel (inclusive of employers national insurance) were £168.869 (2024: £148.085). There were no employees whose annual remL5neration was more than £60,000. -23-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Tangible fixed assets Fixtures and fitting$ Cost At 1 April 2024 Additions 134,174 3,852 At 31 March 2025 138,026 Depreciation and impairment At 1 April 2024 Depreciation charged in the year 109,115 15,283 At 31 March 2025 124,398 Carrying amount At 31 March 2025 13,628 At 31 March 2024 25,059 15 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 36.987 3.000 51,934 86.981 7.254 45,272 91,921 139,507 16 Creditors: amounts falling due within one year 2025 2024 other taxation and social security Trade creditors other creditors Accruals and deferred income 17,934 21,609 2,372 24,692 21,866 17,191 1,690 24,662 66,607 65.409 -24-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Creditors: amounts falling due after more than one year 2025 2024 Accruals and deferred income 4.000 3,165 18 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution scheme5 26,510 30,430 The charity operales a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -25-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds In¢oming R¢sour¢•s Balanco at resources expendod 1 April 2024 Movement in funds Incomlng Resources resourc¢5 exp•nd•d 8alan¢e at 1 Aprll 2023 Transfers Balance at 31 March 2025 Integrated Carers Hub (inc. Carer Reviews) 16.762 655,645 (635,989) 36,418 720,645 (604,501) 152.562 Social Prescribing 20.749 337,187 {323.876) 34,060 288,616 (295,892) 26,784 Worceslershire Parent Carer Forum 30,343 28,385 (38,072) 20.656 69.244 (36,569) 53,331 Accelerated Reform Fund (ARF) 226,953 (73,918) 153,035 Herefordshire Carers 922 (6,695) Lifestyle Advisors 18.540 57.513 (76.053) Community Mental Health Team 14,824 82,335 (88,139) 9.020 82,335 (87,950) 3,405 Health Equalities Partnership 10,010 (6,046) 3,964 (3,964} Ills Trust 1,500 (570) 930 (930) VCS Mental Health Intergration Funding 1,219 6,402 (7,621) -26-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds (Continued Movement in funds Incoming Resour¢•s Balance at resources expended 1 Aprkl 2024 Movement in funds Incoming Resources r•sour¢ xpanded Balance at 1 April 2023 Transfers Balan¢e at 31 March 2025 Redditch District Collaborative 36,101 25,000 (38,612) 22,489 12,500 (25,340) 9,649 Transforming Care Admissions 2.000 (2,000) VCSE Alliance 27,266 (13,726) 13,540 (13,540) Sanctuary Housing 1.492 (1,492) 2,900 (1.597) 1,303 Time for MEI 3,015 {3,015} 155,977 1,221,233 {1,241.906) 141.077 1,403,193 {1,144,201) 400.069 27-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds (Continued} The Inlegrated Carers Hub comprises of grants reiVed for the purpose of supporting unpaid adult carers across the County. The Social Prescrtbing fvnds comprises of grants received for the purpose of providing wellbeing support for patients registered with GP surgeries in Redditch. w0SterShIre Parent Carer Forum fund comprises of a grant received for the purpose of funding a local Parent Carer Forum which is a group of parents and carers of children wilh additional need, to make sure the seNices they receive meets the needs of the children and families. The Accelerated Reform Fund comprises grant funding to improve the Carer experience at discharge. The Sanctuary Housing fund comprises of a grant received for Ihe purpose of providing heallh and wellbeing events for carers The Herefordshire Carers fund comprises a legacy grant received to support carers within Herefordshire. The Lifestyle Advisors fund comprises grants received to provide a lifestyle coaching l advice service to improve patient wellbeing within the Reddilch area. Community Mental Health Team relates to funding received lo provide information advice and support to carers of people with mental ill health. Health Equalities Partnership relates to funding received to reduce inequalities by identifying and supporting carers working in the NHS and building local partnerships to tackle health inequalities. Redditch District Collaborative ielates to supporting the development of a health and care collaborative in Redditch. Transforming Care Admissions is to Support Carer Voicelconlribution towards NHS aim to reduce hospital admissions for patients with Learning Disabilities or Autism. Empowering Carers on discharge- A project to seek and report on Carers experience of hospital discharge process for the cared for and produce a report for the Integrated Care Board. Time for Me - Grant funding to provide wellbeing activities for Carers VCSE MHIGS (Voluntary, Community and Social Enterprises Mental Health Intelligence Gathering) - NHS Funding via the VCSE alliance to utilise Community Mental Health Link Worker skills to map VCSE Mental Health services. VCSE Alliance - Funding to expand Mental Health Link Worker project around engagement with NHS Mental Heallh Trust Ills Trust - Funding to deliver 3 micro respite wellbeing events -28-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Unrestricted funds The unrestricled funds of the charity comprise the unexpended balance5 of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming Resources resources expended Transfers At 31 March 202S Designated funds General funds 20,000 165,592 20,000 181,100 103,435 (87,927) 185,592 103.435 (87,927) 201.100 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Designated funds General fijnds 20,000 189,876 20.000 165,592 111,297 (129.808} (5.773) 209.876 111,297 (129,808) (5.773) 185,592 -29-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Unrestricted funds (Continued) Designated funds: Polysec House moving cosls - One of the beneficial effects of the pandemic has been the expansion of the ability for WAC staff to work remotely and not necessarily require a permanent base. To that end, a cash reserve of £20k has been designated by the Trustees in order to cover any potential move from Polysec House into smaller premises. 21 Analysis of net assets between funds Unrestricted funds 2025 Restrictsd funds 2025 Totsl 2025 At 31 March 2025: Tangible assets Current assetsl(liabilities) Long term liabilities 13,628 191,472 (4,000) 13,628 591,541 14,000) 400,069 201,100 400.069 601,169 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) Long term liabilities 25.059 163,698 {3,165) 25,059 304.775 (3.165) 141.077 185,592 141.077 326.669 -30-
WORCESTERSHIRE ASSOCIATION OF CARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Operating lease commitments At the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating lease5, which fall due as follows.. 2025 2024 Within one year Between two and five years 22,941 13,086 21,933 9,306 36.027 31,239 23 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 24 Cash generated froml{absorbed by) operations 2025 2024 Surplusl(deficit) for the year 274.500 (39.184) Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of langible fixed assets (7,538) 15,283 (5,139) 18,299 Movements in working capital: Decrease in deblors Increase in creditors 47,586 2,033 14.986 8.164 Cash generated froml(absorbed by) operations 331,864 (2,874) 25 Analysis of changes in net funds The charity had no material debt during Ihe year. 31