Charity No.. 1076317 Company No: 03069213 Talbot House Chlldren's Charlty Limited (a company limited by guarantee and not having a share capital) Report of the Management Trustees and Financial Statements for the year ended 31 March 2025
Talbot House Children's Charity Limited (a Company limited by guarantee and not having a share capital) Contents Page Report of the Managemenl Trustees Independent Auditor's Report 10-13 Statement of Financial Activities 14 Balance Sheet 15 Cash Flow Statement 16 Notes to the Financial Statements 17-31
Talbot House Children's Charity Limited la company limited by guarantee and not having a share capital) Report of the Management Trustees for the year ended 31 March 2025 The Management Trustees, who act as directors for the purposes of company law, are pleased to present their annual report together with the audited financial stalements for the year ended 31 March 2025. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and RepubliG of Ireland (FRS 102). the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. OBJECTIVES AND ACTIVITIES In setllng our oblectlves and planning our activities we have given careful conslderatlon to the Charlty Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and care. Prlncipal objecllve To provide an innovative approach to the needs of children with social, emotional and mental health considerations, in either daily education in school, our Children's home or in both. Mlsslon statement Talbot House Children's Charity is a children's charitable organisation with a non-maintained special school and a registered children's home. We exist to improve the lives of the children we work with. Talbot House School provides education for thildren who have complex needs centred around their soclal. emotional, or mental heallh. The Charity's core values are: People- passionate people are at the heart of Talbot House. Place - providing a safe, nurturing environment where we are all equally valued and encouraged. Pride- we take pride in celebrating our achievements and inspire self-belief. Overview Our School was last inspected by Ofsted in July 2023. Our rating is 'Good' in all four areas of effectiveness. This is recognition for the hard work by our staff to make sure that our children feel happy and safe when at school and that we provide an excellent quality of education.
Talbot House Children's Charity Limited (a company limited by guarantee and not havlng a share capltal) Report of the Management Trustees (Continuédj for the year ended 31 March 2025 Key areas of operation Talbot House Children's Charity's key area of operation is the school. ACHIEVEMENTS AND PERFORMANCE Charlty First and foremost, we are a children's charity and as such struclured differently to other schools. We have a Chief Executive Officer and a Head Teacher of the school, who is supported by a Deputy Head Teacher I SENDCO. We are governed by a Board of Trustees, although all those Trustees are also Governors within our school governing board. We also have Parent and Staff Governors on the governing board for school. School The school has capacity for 70 children, from reception class to year 11. We currently have 68 children on roll. All our children have an EHC plan, predominanlly for SEMH as their primary need. however, over 70 % of the children have a secondary need of ASD. Attendance over the past two years has significantly increased, from 64 1. to 920/.. We believe our pupils enjoy school, feel safe and want to learn. Our curriculum is tailored for the varying needs of our children. We offer a pre-engagemenl model, Key Stage 1, 2, 3 and 4 nalional curriculum and our pupils work towards achieving various qualificalions as well as meeting their EHCP outcome. We believe that our pupils are entilled to a good, broad, and balanced curriculum as well as skills to ensure that they are successful in life beyond year 11. We offer, social skills, preparation for adulthood, wellbeing, Gommunication and interaction and vocational lessons to ensure our children achieve academically and socially. Within our offer we also have occupational health and speech and language therapists working with our children. We offer 'Thrive' sessions and practice the 'Thrive' approach across the school. Our staff are skilled in Makaton, sensory storie5 and rebound therapy. A number of our children have completed Bronze and Silver DofE awards this year. The school has different zones. Blue. Orange, Yellow and Green. Blue Zone- 3 classes, Pear 1, Pear 2. and Peach. following an Equals informal curriculum. Palm, following Key Stage 1 curriculum. Orange Zone - 2 class, Beech, following a semi formal curriculum, (part Equals, part national curriculum key stage 1) and Palm following Key Stage 1 curriculum. Yellow Zone - 2 classes. Apple. and Sycamore. bolh follow, national curriculum key stage 2. Green Zone - 6 house groups. Oak, Pine, Willow, Maple, Cedar and Cherry, they are set into 5 teaching groups following key stage 3 and 4 national curriculum. We pride ourselves on adapting to all our children's needs, building good relationships with parents and carers, and supporting all children to achieve the best they can.
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Report of the Management Trustees (Continued) for the year ended 31 March 2025 FINANCIAL REVIEW The financial position remains stable. The building refurbishment program Gontinues to progress with more areas of modernisation planned. School roll has remained static compared this position last year, with 68 on roll. The results by activity are detailed below-, Income Expenditure 2025 2024 School Residential care home 3,672,633 4,842 2,969,310 3,326 703.323 1,516 537,207 (82,992) 3,677.475 2,972.636 704,839 454,215 An operating surplus of £681,535 {2024- £453,796) is shovm on the Statement of Financial Activities. The fund balances carried forward at 31 March 2025 show a total of £3,433,537 (2024 - £2.572,002) of which £nil 12024: £nil) relaled to restricted funds. Reservè$ policy The charity is reliant for its operational costs on numbers of children atlending our school or living in our children's home. All unrestricted income is received from government funding. In the Trustees, view, these reserves should provide the charity with adequale financial stability and the means for it to meet its Gharilable objectives for the foreseeable lulure. We are currently working lowards increasing our level of reserves in order lo meet to policy. Trustees will review the amount of reserves on a quarterly basis at their board meetings to ensure thal the charity is able to fulfil its conlinuing obligalions. This review encompasses the nature of income and expenditure streams. the need to match income with any planned commitments of future developments or major asset purchases, the risk of an unforeseen emergency, and the level of pupil numbers. This should ensure the long4erm sustainability and financial stability of the charity. There is also a risk for the Trust at presenl around future local authority SEN funding and increased costs relating to pay awards, national insurance and pensions. Other uses of reserves as agreed by Ihe Truslees include any expansion of pupil numbers; school improvemenl actions and intervenlions., development of the school pupil offering and any changes to the school funding formula The Trustees have determined Ihat designated reserves should be discussed and set yearly. depending on the development needs of the organisalion. The trustees consider it prudent to maintain unrestricted free reserves at 8 level sufficient to cover between 4 and 6 months operating costs. As at the 31st March 2025. the free reserves are £1,239.563 which equates to approximately 4.7 months operating costs.
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Report of the Management Trustees (Continued) for the year ended 31 March 2025 Golng Concern The charity reported a surplus of £681,535 for the year ended 31 March 2025 (2024 -£453,796) and has net assets of £3.433,537 (2024: £2,752,002). The Charity have been able to sustain a healthy cash position during this year. We continue to support families during school holiday periods by providing Aldi vouchers lo assist with increases in the Gosl of living. A number of development projects have been completed in Ihe year, including the IT nelwork renewal, Ihe creation of a new mini bus compound, a new workshop for our mainlenance team. the demolition of the caretakers house, whiGh was no longer in use and the completion of the redevelopment of our sports hall. The construction of a new classroom was approved, and the project was started in March 25. The classroom will be ready to be used in September 2025. Referrals to the school have increased significantly with most of them now for younger chiklren of reception Iprimary school age. Many of them are instigated by parents and Iheir current provision. We can match the children referred to us more rigorously because of gathering information frorn numerous sources. As the children's needs are identified and met when they are younger. Ihey are more likely lo achieve good oulcomes at the end of their school life. We had another wonderful 'Celebration of Success Day, at the end of the summer term to recognise our children's amazing achievements Ihroughout the year.
Talbot House Children's Charity Limited (a company limited by guarantee and not havtng a share capital) Report of the Management Trustees (Continued) for Ihe year ended 31 March 2025 PLANS FOR THE FUTURE Alms Our aims for 202512026 include: Complete the new demountable classroom and outdoor area. ready for September 2025. Renew all the electrical switchgear in the building. Update and renew our CCTV. Complele an external walking track. Replace all inlernal fire doors New outdoor leaming space in Blue Zone Two new staff toilets lo be constructed REFERENCE AND ADMINISTRATIVE DETAILS Charity Nurnber 1076317 Company Number 03069213 Registered office Hexham Road, Walbollle, Newcastle upon Tyne, NE15 8HW Our advlsors Bankers National Westminster Bank, 149 High Street, Gosforth, Newcastle upon Tyne, NE3 1HA SolicitorslLegal issues W8rd Hadaway Law Firm, Sandgate House, 102 Quayside, Newcastle upon Tyne, NE1 3DX Auditors S&W AudiL, 17 Queens Lane, Newcaslle upon Tyne, NE1 1RN
Talbot House Ghildren's Charity Limited (a Company limited by guarantee and not having a Share capital) Report of the Management Trustees (Continued) for the year ended 31 March 2025 Dlrectors and Trustees The direclors of the charitable company ('the charity,) are its Trustees for the purpose of charity law and throughout Ihis report are collectively referred to as the Management Trustees. The members of the Management Trustees during and after the year were as follows'.- Rev A Harding L Alcorn N Ramsey V Mears T Johnson (Chair) (Resigned 27 January 2025) (Resigned 02 September 2025) R Scott D Wilson M Lonergan (Resigned 15 October 2024) (Resigned 15 October 2024) (Appointed 09 July 2025) The Truslees are also members of the Board of Governors, in addition to the following.. D Pearson C Smiles Karen Cowan steve Hughes Rachael Gosling Chief Executive Governor Head Teacher Governor Staff Governor Staff Governor Parent Governor (Resigned 09 July 2025) Key management D Pearson C Smiles Chief Executive Head Teacher
Talbot House Children'5 Charity Limited (a company limited by guarantee and not having a share capital) Report of the Management Trustees (Continuedj for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Talbot House Children's Charity Limiled is a company limiled by guarantee and a registered charity governed by ils Memorandum and Articles of Association which were amended by order of a special resolulion of the board and adopted in July 2024. A Trusl Deed establlshed Talbol House 'The Charily. on 12 December 1973. On 31 March 2000 all assets and liabilities were transferred lo Talbot House Independent Special School Limited ('a company limited by guarantee,). In July 2002 an application to the DfES. by the Trustees, to become a Non-mainlained Special School was approved by the Secretary of State for Education. New Articles and Memorandum of Association were duly implemented and subsequenlly, as a condition, a Governing Body was formulated. On 29 January 2015 an Extraordinary General Meeting passed a Special Resolution to ratify a further change of name to that of 'Talbot House Trust.. Further to this another Extraordinary General Meeting passed a Special Resolution lo ratify a further change of name lo Ihal of Talbol House Trusl North East on Ihe 20 May 2015. On the 18th January 2023 wilhin a scheduled general meeting a special resolution was passed to ratify a change of name to that of Talbot House Children's Charily Limited. Talbol House Children's Charity is a Registered Charity (Charity No 1076317). It is also a Company Limited by Guarantee (Company No 03069213) and a Non-maintained Special School (DfES No 3917038). Method of Election of Trustees and Governors Approval for the appointment of new Trusleeslmembers is rnade at Trustees Meetings. New members are recruited proactively through various networks available to the trust. Rotation of Membersrrrustees is in accordance with the Memorandum and Articles of Association. Govemors are appointed in accordance with the Instrument and Articles of Government documents.
Talbot House Children's Charity Limited (a Gompany limited by guarantee and not having a share capital) Report of the Management Trustees (Continued) for the year ended 31 March 2025 Trustee Inductlon and tralnlng All the trustees are familiar with the practical work of the charity and are kept up to date with their legal responsibililies through the circularisation of Charity Commission newsletters, correspondence and updates. Governor training is undertaken with a subscription to an e-learning tool along with face to face training as appropriate. Organisational structure The organisation slruclure adopted in March 2001 consists of the Trustees and the Senior Managemenl Team. The Trustees are responsible for governance, slrategy and mission and advises, directs and supports the Senior Management Team. The Senior Management Team comprises Ms D Pearson, Chief Executive Officer and Mrs C Smiles, Head Teacher. Collectively they are responsible for the day to day running of the Charity. The school is subject to rigorous Ofsted inspections. as well as local authority monitoring visits. The Charity has excellent external links and relationships with LA Commissioning Officers. Th8re is also support from agencies such as Social Services, Careers Services and representatives from various health agencies NHS and LA advisory services. Relationships continue to be developed between other charities and focus groups such as provider forums, special heads groups, NASS (National Association of Special Schools) and LA procurement framework commissioners. Related parties and COperatIOn wlth other organlsations The Charity maint£in links with other schools in the area via special heads groups, safeguarding forums and networking. Pay policy for senior staff Our Trustees delegate responsibility to the payroll Gommillee which is made up of up to three trustees annually. Pay increases are awarded in April each year. Unlon Recognltlon In December 2021, the trust management were approached by a representative of the NEU who represented Ihe teaching staff. An agreement was made Ihat the NEU would be the recognised union for Ihe bargaining unit who reouesled input on decisions over teachers pay, holidays and hours. Rlsk assessment The Trustees recognise that the main risk to the Charity would result from a fall in the numbers of children we supporl. At their quarterly meelings the Chief Execulive Officer and Head Teacher report on all aspects of the Charily's business, including pupil numbers, staffing levels. development and financial matters. A 'RAG rated, risk regisler is in place and forms part of the agenda al the quarterly Board Meelings. We also have a Finance Committee who meet quarterly to discuss all financial information. Auditors A resolution proposing that S&W Audit be reappointed as auditors of the company will be put to the Annual General Meeting.
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Report of the Management Trustees (Gontinuedj for the year ended 31 March 2025 STATEMENT OF MANAGEMENT TRUSTEES, RESPONSIBILITIES The Management Trustees (who are also directors of Talbot House Childr&n's Charity for the purpose of company law) are responsible for preparing the Management Trustees, Reporl and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounling Practice). Company law requires the ISteeS to prepare financial statements for each financial year, which glve a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, Includlng the income and expendilure. of the charitable company for that perffiod. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charilies SORP 2015 (FRS 102)., make judgements and estimates thal are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charilable company will continue in operation. Th8 trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial slatements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware, and the truslees have taken all the sleps thal they ought to have taken to make themselves aware of any relevant audit information an(J to establish that the auditor is aware of that infonnation. This report was approved by the Management Trustees on 2025. Signed on behalf of the Board Rev A Harding Chalr
Talbol House Children's Charity Limited (a company limited by guarantee and not having a share capital) Independent auditor's report to the members of Talbot House Children's Charity Limited Oplnion We have audited the financial statements of Talbot House Children's Charily (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards, including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and R8public of Ireland (United Kingdom Generally Accepled Accounting Praclice). In our opinion the financial statements: give a true and fair view of the stale of the charitable company's affairs as al 31 March 2025, and of its incoming resources and applicalion of resources. including its income and expenditure, 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 of the Companies Act 2006. Basis for oplnlon We conducted our aLbdit in accordance with International Slandards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditor's responsibilities for the audit of the financial stalements section of our report. We are independent of the charitable company in accordance wilh the ethical requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Elhlcal Slandard, and we have fulfilled our other ethlcal responsibilities in accordance with Ihese reqltlrements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we hav8 concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial slatements is appropriale. 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibililies of the trustees with re5pecl to going concern are described in the relevant sections of this report. other information The truslees are responsible for the other information. The other infonnalion comprises the infomation included in Ihe trustees. annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and. except to the extent olherwi5e explicitly stated in our report, we do not express any form of assurance conclusion thereon. 10
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Independent auditor's report to the members of Talbot House Children's Charity Limited (Continued) In connection with our audit of Ihe financial statements. our responsibility is lo read Ihe other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent malerial misstatements, we are required to determine whether there is a materi81 misstatemenl in the financial stalemenls or a material misstatement of Ihe olher information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report thal fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In oui- opinion, based on the work undertaken in Ihe course of the audit.. the information given in Ihe trustees, report (incorporating the directors, report) for the financia5 year for whiGh the financial statements are prepared is consistent with the financial statements; and the directors, report has been prepared in accordance wilh applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and underslanding of the charitable company and its environmenl obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following malters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept, or relums adequate for our audit have not been received from branches nol visited by us., or the financial statements are not in agreement with the accounting records and relums., or certain disclosures of directors, remuneralion specified by law are not made. or we have not received all the infonnation and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of Ihe small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responslbilities of trustees As explained more fully in the Irustees. responsibilities statement set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for such internal control as the Iruslees determine is necessary lo enable Ihe preparalion of financial slalements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable cornpany's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Talbot House Children'5 Charity Limited (a company limited by guarantee and not having a share Gapital} Independent auditor's report to the members of Talbot House Children's Chartty Llmlted (Continued) Audltor's responsibilities for the audit of the financial statements We have been appointed auditor under the companies Act 2006 and we report in accordance with this Act. Our objectives are to obtain reasonable assurance about whether the financial stalements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when il exists. Misslalements can arise from fraud or error and are Gonsidered material if, individually or in the aggregale. they Gould reasonably be expected to influence the economic decisions of users taken on the basis of these financial Statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. Tlie extent to which our procedures are Gapable of delecting irregularilies, including fraud, is detailed below. We obtained a general understanding of the company's legal and regulatory framework through enquiry of managemenl concerning their underslanding of relevanl laws and regulations, the entily's policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing underslanding of Ihe company's industry and regulation. We understand that the company complies with the framework through: Engaging external legal professionals as required and making changes to internal procedures and controls as necessary. The directors, close involvement in the daY-tdaY running of the business, meaning that any litigation or claims would come lo Iheir attention directly. Monitoring of updates made by regulatory bodies. In the context of the audit, we considered those laws and regulations which detennine the forrn and content of the financial statements, which are central to the company's ability lo conduct its business, and where there is a risk that failure to comply could result in rnaterial penalties. We identified the following laws and regulations as being of significance in the contexl of the company- The Companies Acl 2006 and FRS 102 in respect of Ihe preparation and presenlation of the financial statements. The Charities Acl 2011 and the Charities.. Slatement of Recommended Practice in respecl of the preparation and presentation of the financial statements. The Education and Inspections Act 2006 and associated regulations enforced by Ofsted, where applicable, in respect of cornplianGe with statutory requirements for educational provision and safeguarding standards. 12
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Independent auditor'5 report to the members of Talbot House Children's Charity Limited (Gontinued) We performed the following specific procedures lo gain evidence about compliance with the significant laws and regulations identified above= Making enquires of Irustees and management as to where they consider there to be a susceptibilily to fraud and whether they have any knowledge or suspicion of fraud., Obtaining an understanding of the intemal controls established to mitigate risks related to fraud or non- compliance with laws and regulations. Reviewing the minutes of meelings of Ihose charged wilh govemance; Reviewing any reports and communications issued by Ofsted and Reviewing a sarnple of legal and professional fees to ensure that any claims, litigalion or other compliance related matters were identified and appropriately disclosed. The senior statutory partner led a discussion with senior members of the engagernent team regarding the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were: Manipulation of the financial statemenls via fraudulent journal entries and management overriding controls. The incorrect recognition of fee revenue from fraud or error, around the period end. The incorrect recognition of grants and donations resulting in the income being recognised in the incorrect accounting period. These areas were communicated to the other members of the engagement team not present at the discussion. The procedures we carried out lo gain evidence in the above areas induded.. Performed data analytics on the general ledger againsl client specific criteria Selected a sample of joumal entries using client specific risk criteria and agreed to supporting evidence Recalculation of fee income for a sample of pupils throughout the year which was compared with actuals to ensure fee income was complete, accurate and occurred in Ihe financial year. Obtained third party evidence for a sample of grants and donations, to ensure that it was appropriate to recognise the income in the financial statements in accordance with the principles of the SORP. Use of our report This report is made solely to Ihe charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that we might state to the Gharilable company's members those matters we are required to slate to them in an audilor's repori and for no olher purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charilable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Craig Henderson (Senior Statutory Auditor) For and on behalf of S&W Audit Cl boolts IJJJ qo Ig statutory Auditors Chartered Accountants 17 Queens Lane Newcastle upon Tyne NE1 1RN 13
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Statement of Financial Activities (including the income and expenditure account) for the year ended 31 March 2025 Unrestricted Designated Restricted funds funds fund5 Total 2025 Total 2024 Notes Income from: Grants and donations Charitable activities Investmenl income Oth8r income 115.626 3,537,611 32,231 41,668 28.868 144,494 3.537,611 32.231 41,668 65,528 3,278,975 6,133 Total Income 3.727,136 28.868 3.756,004 3,350,636 Expenditure on: Charitable activities 3,008,985 36,616 28.868 3,074,469 2,896,840 Total expenditure 3,008,985 36,616 28,868 3,074,469 2,896,840 Net movement before transfers 718,151 (36,616) 681,535 453,796 Transfers between funds 18 80,509 (80,509) Net movement In funds 798.660 1117,125) 681,535 453,796 Reconclllatlon of funds Total funds brought forward 638,597 2,113,405 2,752,002 2,298,206 Total funds carried forward 1,437,257 1.996,280 3,433,537 2,752,002 There have been no recognised gains or losses other Ihan the above surplus. All income and expendilure derives from continuing activities. 14
Talbot House Children's Charity Limlted (a company limited by guarantee and not having a share capital) Balance Sheet as at 31 March 2025 Notes 2025 2024 Fixed assets Tangible assets 12 1.962.821 2,000,581 Current assets Debtors Investments Cash at bank and in hand 13 892.874 1.208,148 31,852 346,626 672.241 2.132,874 1,018,867 Llabllllles: Creditors.. amounts falling due within one year 14 (621,917) (250,503) Nel current assets 1,510.957 768,364 Total assets less current liabilitles 3,473,778 2,768,945 Provlslons for Liabilltles Pension Liability 16 (40,241 ) (16,943) Total net assets 3,433,537 2,752,002 The funds of the charlty Reslricled funds Unrestricted funds Designated 18 18 18 1,437,257 1,996.280 638,597 2,113,405 3,433,537 2,752.002 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the Managemenl Trustees on . 2025 and signed on Iheir behalf by- Rev A Harding Chair Company Number 03069213 The noles on pages 17 lo 31 fom part of these financial stalements.
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Cash Flow Statement for the year ended 31 March 2025 2025 2024 Note Cash flow from operatlng activities Net cash flow from operating activities 21 655.732 418,509 Cash flow from investing aclivitie5 Payments to acquire tangible fixed assets Proceeds from sale of langible fixed assets { 126,872) (81,538) 6,668 Net cash flow from investing activities (87,973) (81,538) Net increase In cash and cash equivalents 567,759 336,971 Cash and cash equivalents at the beginning of the year 672,241 335,270 Cash and cash equlvalents at the end of the year 1,240,000 672,241 Cash and cash equivalents conslst of: Cash at bank and in hand 1,240.000 672,241 16
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements for the year ended 31 March 2025 Accounting Policies 1.1 Basis of preparation The financial statements have been prepared in accordance with Accounling and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Practice. Talbot House Chlldren's Charity North East meets the deflnitlon of a public beneflt under FRS 102. The financial statements are prepared under the historical cost convention or transaction value unless otherwise slated in the relevant accounting policy nole(s). The financial staLemenls are prepared in Sterling which is the functional currency of the charity and rounded to Ihe nearesl £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 1.2 Going concern The charity reported a surplus of £681,535 for the year ended 31 March 2025 (2024 -£453,796) and has n8t assets of £3,433,537 (2024.. £2,752,002). The Charity have been able to sustain a heafthy cash position during this year. We continue to support families during school holiday periods by providing Aldi vouchers to assisl with increases in the cost of living. A number of development projects have been completed in the year, including the IT network renewal, the creation of a new mini bus compound. a new workshop for our maintenance team. the demolition of the Garetakers house, which was no longer in use and the completion of the redevelopment of our sports hall. Referrals to the school have increased significantly with most of Ihem now for younger children of reception Iprimary school age. Many of them are insligated by parenls and Iheir currenl provision. We can matcli the children referred to us more rigorously because of gathering information from numerous sources. The budgets for 2025126 are extremely healthy. 1.3 Funds Unreslricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the trustees for particular purposes. 17
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Continued) for the year ended 31 March 2025 1.3 Funds (Contlnued) Restricted funds are funds which are set to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each reslricted fund is set oul in the notes to the financial statemenls. 1.4 Incoming resources All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity has entillemenl lo the funds. any performance condilions have been met, the amount can be measured reliably and it is possible Ihat the income will be recelved. Income from charitable activities includes income received Ltnder contract or where enlitlement to grant funding is subject to specific performance conditions and is recognised as earned. Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with reasonable certainty. Income received to delivei. seNices over a specific period covering more than one financial year is accounted for over the specific period., related expenditure is accounted when incurred. Investment income relates to interesl earned through holding assets on deposit. 1.5 Expenditure and Irrecoverable VAT All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Gosts related lo the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the setllement will be required and the amount of the obligalion can be measured reliably. Irrecoverable VAT is charged against the cost which the expenditure was incurred. 1.6 Support cost allocation Support costs are those Ihal assist the work of the charily bul do nol directly represent charitable aclivities and includè office costs, govemanoe costs and administrative payroll costs. They are incurred directly in supporl of expenditure on the objects of the charity. 1.7 Tangible flxed assets and depreclatlon Tangible fixed assels are stated at cost including any incidental expenses of acquisition. Depreciation of tangible fixed assets is provided by equal annual instalmenls so as to write off Ihe cost of the assets over their estimaled useful economic lives as follows: Freehold buildings Fixtures. filtings & equipmenl Motor vehicles 50 years 3- 10 years 3 years Land is not depreciated. Fixed assets below a value of £100 are not capitalised. 18
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Flnancial Statements (Continued) for the year ended 31 March 2025 1.8 Debtors Trade and other debtors are recognised at the settlemenl amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Creditors and provislons Creditors and provisions are recognised where the charily has a present obligation resulting from a past evenl that will probably result in the transfer of fund to a third party and the amount due to settle the obligallon can be measured or estimaled reliably. Creditors and provlslons are normally recognised at thelr settlement after allowing for any Irade discounts due. 1.11 Financial instruments The charily only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using Ihe effective inleresl method. 1.12 Leases Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 1.13 Post retlrement benefits The charitable company contributes to a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charitable company. The annual contributions payable are charged to the SOFA. The charity also contributes to a defined benefit pension scheme. The assets of Ihe scheme are held separately from those of the charity in an independently administered fund. It is not possible for the charitable company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme and ther6fore accounts for it as a defined contribution scheme. In addition to the above accounting the scheme has agreed a schedule of contributions wilh participating employers that will eliminate the plan over 12 years. The charity has recognised a liability for the contributions adjusted for the lime value of money and an equal expense in the SOFA. The TPS is an unfunded scheme and contributions are calculated so as to spread the Gost of pensions over employees, working lives with the acaderny trust in such a way that the pension cost is a subslanlially level percenlage of current and future pensionable payroll. The contributions are delermined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. As stated in note 18, the TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore Irealed as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. 19
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Slatements (Contlnuedj for the year ended 31 March 2025 1.14 Tax The charily is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the lests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Legal status Talbol House Children's Charity 15 a company limited by guaranlee (No 03069213) and not having a share capital. In the event of Ihe company being wound up, members may be required lo contribute an amount nol exceeding £1 each. Comparatlve Statement of Flnanclal Actlvltles Unrestricted Deslgnated Restricted funds funds funds Total 2024 Total 2023 Notes Income from: Grants and donations Charitable aclivities Investment income 40.021 3,278,975 6,133 25,507 65,528 3,278,975 6,133 95,459 2,432,167 975 Total Income 3,325,129 25,507 3,350.636 2,528,601 Expenditure on: Charitable activities 2,839,160 32,173 25,507 2,896,840 2,531,031 Total expenditure 2,839,160 32,173 25,507 2,896.840 2,531,031 Net movemenl before transfers 485,969 (32,173) 453,796 (2,4301 Transfers between funds 18 (315,504) 315,504 Net movement in funds 170,465 283,331 453,796 (2,4301 Reconcilialion of funds Total funds brought forward 468,132 1,830,074 2.298,206 2,300,636 Total funds carrled forward 638.597 2,113,405 2,752,002 2,298,206 20
Talbot House Children's Charity Limited (a Gompany limited by guarantee and not having a share capital) Notes to the Financial Statements (Contlnued) for the year ended 31 March 2025 Income from grants and donations 2025 2024 Donations Grants 13,120 131,374 65,528 144,494 65,528 Income from charitable activltles 2025 2024 School Residential Children's home 3,532,769 2,605,323 4,842 673,652 3,537,611 3,278,975 Expendlture on ¢harltable activltles Actlvities undertaken directly Support costs 2025 2024 School Residenlial care home 2,626,642 3.329 443,739 3,070,381 2,152,771 759 4,088 744,069 2,629,971 444,498 3,074,469 2,896,840 21
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Contlnued) for the year ended 31 March 2025 Support costs 2025 2024 Salary Costs Governance costs (note 8) 429,589 14,909 358.950 12,975 444,498 371,925 Governance costs 2025 2024 Payroll costs Audit fee Other fees 5,489 9,000 420 4,555 8,000 420 14,909 12,975 Net movement for the year This is stated after charging.. 2025 2024 Depreciation Audit remuner81ion 164,633 9,000 154,631 8,000 O. Analysis of staff costs and trustee remuneration and expenses Staff costs were as follows: 2025 2024 Wages and salaries Social security costs Pension costs 1,658,868 1,681,823 163,733 154,862 230,164 160.275 2,052,765 1,996,960 The average monthly number of employees during the year was: 2025 Number 2024 Number Average employees 62 62 22
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements Icontlnued) for the year ended 31 March 2025 11. Analysis of staff costs and trustee remuneration and expenses (Contlnuedj The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows.. 2025 Number 2024 Number £60,000 - £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 The charity Irustees were not paid or received any other benefits from employment in the year (2024 - £nil) neither were they reimbursed expenses during the year (2024 £nil). No charity trustee received payment for professional or other services supplied to the charity {2024 - £nil). The key management personnel of the charity comprise the trustees, the Chief Executive Officer and the Head Teacher. The tolal employee benefits of the key management personnel of the charity were £219,560 (2024 - £272,926). 12. Tanglble flxed assets Freehold land & buildings Flxtures, fittings & equipment Motor Vehicles Total Cost At 1 April 2024 Additions Disposals 2,342,185 37,580 117,810 928,415 89,292 3,388,410 126,872 (25,684 ) (25,684 ) At 31 March 2025 2.379,765 92,126 1,017,707 3,487,192 Depreciation At 1 April 2024 Charge for the year Disposals 537,780 36,616 62,143 19,647 { 25,684) 787,905 108,370 1,387,828 164,633 (25,684) Depreciation CIF 574,396 56,106 896,275 1,524,371 Net book value At 31 March 2025 1,805.369 36.020 121,432 1,962,821 At 31 March 2024 1,804.405 55.667 140,509 2,000,581 23
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Contlnuedj for the year ended 31 March 2025 13. Debtors 2025 2024 Trade debtors Prepayments and accrued income 806.403 86,471 271,581 75,045 892,874 346,626 14. Credltors: amounts falllng due wlthln one year 2025 2024 Trade creditors Taxes and social security Accruals and deferred income Other creditors 108,202 244,184 242,033 27.498 111,112 38,718 79,746 20,927 621,917 250,503 15. Deferred Income Deferred income comprises fee income relating to future periods: Balance at rf April 2024 Amounts released to income earned from charitable activities Amounts deferred in the year 235,034 Balance al 31 March 2025 235,034 24
Talbot House Children's Charity Limited {a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Contlnuedj for the year ended 31 March 2025 16. Provisions for Liabilities 2025 2024 Pension liability (note 17) 40.241 16,943 40,241 16,943 17. Pension scheme Talbot House School's ernployees belong to two prlncipal pension schemes; the Teachers, Pension Scheme England 8nd Wales (TPS) for academic and related staff and The Pension Trust for non-teaching staff. Both are defined benefit SGhemes. The charity also operales a defined contribution SGheme run by Royal London (previously Scottish Equilable). The percentage contributions paid in to this Scheme vary depending on employment contract. Defined contrlbutlon scheme Pension contributions payable for the year ended 31 March 2025 amounted to £230,164 (2024 - £160,275). Teachers, Pension Scheme Introductlon The Teachers, Pension Scheme (TPS or scheme) is a stalutory, unfunded, defined benefit occupational scheme, governed by the Teachers, Pensions Regulalions 2010 (as amended). and the Teachers, Pension Scheme Regulations 2014 (as amended). These regulations apply to teachers in schools and other educational establishments, induding academies. in England and Wales Ihal are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishmenls of further and higher education may be eligible for rnembership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, aulomatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS. 25
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes lo the Financial Statements (Continuedj for the year ended 31 March 2025 17. Pension scheme (Continued) The Teachers, Pension Budgeting and Valuation Account Although members may be employed by various bodies, Iheir retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parfiament. The TPS is an unfunded scheme and members contribute on a 'pay as you go 'basis - contributions from members, along with those made by employers, are credited to the Exchequer under arrangemenls governed by the above Acts. The Teachers, Pensions Regulations 2010 require an annual account, the Teachers. Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 Aprll 2001, the Account has been credited with a real rale of relurn, wh5ch Is equivalent to assuming that the balance in the Account is invested in notional investmenls that produce that real rate of return. Valuatlon of The Teachers, Pension Scheme The latest valuation of the Teachers, Pension Scheme has now taken place, in line with directions issued by HM Treasury and using membership data as al 31 March 2016. As a result of this valuation TPS employers will pay an increased contribution rate of 23.68 % from September 2019 {Ihis includes the administration levy of 0.8°/0). The timing of the implementation is lo align its inlroduction with employers, budget planning cycles. Until then, employers will pay the current rate of 16.48%. A copy of the latest valuation report can be found by following this link to the Teachers. Pension Scheme website Scheme Changes The arrangements for a refomied Teachers, Pension Scheme, in line with the recommendations made by Lord Hutton, in particular the introduction of a Career Average Revalued Earnings (CARE) scheme, were implemented from 1 April 2015. In Decernber 2018, Ihe Court of Appeal held that Iransitional proleclion provisions conlained in the reformed ludicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, have rejected the Government's application for permission to appeal the Court of Appeal's ruling. The case will now be referred to an Employment Tribunal for a decision regarding the remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination. HM Treasury are clear that the ruling has implications for the other public service schemes. including the Teachers, Pension Scheme. Those implications are currenlly being considered and any impact on scheme costs is expected to be boked at within the next scheme valuation, which is currently scheduled to be based on April 2020 data and implemented in April 2023. 26
Talbot House Children'5 Charity Limiled (a company limited by guarantee and not having a share capital) Notes lo the Financial Statements (Contlnuedj for the year ended 31 March 2025 17. Pension scheme (Continued) The Pensions Trust The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non- associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient informats-on to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined Gontribution Scheme. The scheme is subject to the funding legislalion outlined in the Pensions Act 2004 which came into force on 30 December 2005. This. togelher with documenls issued by the Pensions Regulator and Technical Acluarial Standards by the Financial Reporting Council, set out in the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'last-man standing arrangement,. Therefore the company is potentially liable for other participating employers, obligalions if those employers are unable to meet Iheir share of the scheme deficil following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuily purchase basis on withdrawal from the scheme. A full actuarial valuation for Ihe scheme was carried out at 30 Seplember 2020. This valuation showed assets of £800.3m, liabililies of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the partlGipating employers to pay additional contributions to the scheme as follows: Deflclt contrlbutlons From 1 April 2025 to 31 March 2028.. £2,100,000 per annum (payable monthly) Unless a concession has been agreed with the Trustee the temi to 31 March 2028 applies. Note that the scheme's previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabililies of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: Deflclt conlrlbutlons From 1 April 2022 10 31 January 2025: £3,312.000 per annum (payable monthly) The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficil funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates lo the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. Present values of provlslons 31 March 2025 £'ooo 40 31 March 2024 31 March 2023 £'ooo £'ooo 17 36 Present value of provision
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements Icontlnued) for the year ended 31 March 2025 7. Pension scheme (Continued) Reconciliation of opening and closing provisions Year Ending Year Endlng 31 March 2025 31 March 2024 £'ooo £'ooo 17 36 Provision at start of period Unwinding of the discount factor (inlerest expense) Deficit contribution paid Remeasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule 40 Provision at end of period 40 17 Income and expendlture Impact Year Ending Year Ending 31 March 2025 31 March 2024 £'ooo £'ooo Interest expense Remeasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule Contributions paid in respect of future service. Costs recognised in income and expendilure account 40 Includes defined contribution schemes and future serrfice contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes. Assumptions 31 March 2025 % per annum 31 March 2024 31 March 2023 YD per annum /0 per annum Rate of discounl 4.84 5.31 5.52 The discount rates shown above are the equivalent single discount rates which, when used to discount the fulure recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount Ihe same recovery plan contributions. 28
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Contlnued) for the year ended 31 March 2025 18. Funds Year endod 31 March 2025 At 1 April 2024 At 31 March 2025 Income Expenditure Transfers Unrestricted funds 638.597 3,727.136 { 3,008,985 ) 80.509 1,437,257 Designated funds Property fund Capital projects IT Upgrade 1,804.405 244,000 65.000 (36,616) 37,579 (53,088) (65,000) 1,805,368 190,912 Restrlcted funds Devolved Formula Capital 28,868 (28.868) Total 2,752,002 3,756,004 { 3,074,469) 3,433,537 Year ended 31 March 2024 At 1 Aprll 2023 At 31 March 2024 Income Expendlture Transfer5 Unrestricted funds 468,132 3,325,129 (2,839,160) (315,504 ) 638,597 Designated funds Property fund Capital projects IT Upgrade 1,830.074 { 32,173 ) 6.504 244,000 65,000 1,804,405 244,000 65,000 Restrlcted funds Devolved Formula Capital 25,507 (25.507 ) Total 2,298,206 3,350.636 (2,896,840) 2,752,002 Designated funds Property fund During the year the Trustees elected to designate a property fund, with a value equivalent to the carrying value of Ihe freehold land and buildings held by the charity. Restricled funds Devolved Formula Capital This income is received for improvemenls to the building and other faGilities or capital repairslrefurbishment and minor work. Capital projects - For various capital refurbishment across the school site. IT Upgrade- Upgrade to the IT system. 29
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Financial Statements (Continued) for the year ended 31 March 2025 19. Analysis of net assets between funds Year ended 31 March 2025 Unrestricted Restricted Funds Funds Total Tangible fixed assets Net current assels Provisions for liabilities 1,962.821 1,510.957 (40,241 ) 1,962,821 1,510,957 140,241 ) 3,433,537 3,433,537 19. Analysls of net assets between funds (Continued) Year ended 31 IAarch 2024 Unrestrlcted Restricted Funds Fund5 Total Tangible fixed assets Net current assets Provisions for liabilities 2,000,581 768,364 (16,943) 2,000,581 768,364 { 16,943) 2,752,002 2,752,002 30
Talbot House Children's Charity Limited (a company limited by guarantee and not having a share capital) Notes to the Flnancial Statements (Contlnuedj for the year ended 31 March 2025 20. Related party transactions There have been no transactions incurred with relaled parties during the period (2024 - none). 21. Financial Commitments Commitments for Ihe acquisition of tangible fixed assels approved by Ihe Trustees but nol provided for in the financial slatements amounled lo £195,000. (2024 - £nil). 22. Reconclllatlon of net (deflclt)Isurplus to net cash flow from operatlng actlvltles 2025 2024 Net surplus for the year Investment income Depreciation Profil on disposal of tangible assets Ilncrease)Idecrease in debtors Increase in creditors.. due within one year Decrease creditors.. due after more than one year 681,535 (32,231 ) 164,632 (6,668) (546,248) 385,677 371,414 (556,266) 23.298 (19,329) 453.796 154,631 655,732 418,509 23. Analysls of changes In net debt At l Aprll 2024 Cash At 31 March flows 2025 Cash and cash equivalents Cash at bank and in hand Short term investments 672,241 336,971 31,852 1,208,148 1,208,148 Total 672,241 1,912.241 1,240,000 31