Reglstered number 3973439 Charity number 1081256 LUTON FRIENDSHIP HOMECARERS (A Company Llmlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 LUTON FRIENDSHIP HOMECARERS (A C(xnpany Limited by Guarantee) CONTENTS Referenee and Adminlstratlve Detalls of the Company. Its Trustees who served durlng the year and AdvEsers Tntstees. Report Independent Examlnees Report Statement of Flnancial Actlvltiés 2-10 11 12 Balance Sh••t 13-14 Notes to thè Financial Statèments 15-21 LUTON FRIENDSHIP HOMECARERS (A Company Llmited by Guarantse) REFERENCE AND ADPalNISTRATIVE DEfAILS OF THE COMPANY, ITS TRUSTEES WHO SERVED DURING THE YEAR ANDADVISERS FOR ThE YEAR ENDED 31 MARCH 2024 Trustees who served durlng the year Pastor Itamar James (appointed 22 February 2024) Pa8tor 8emle Holford {resign8d 25 April 2024) Wesley Warren Gary Gunter Nigel McNeil Tapiwa Manderd Max McKenzi&Cook stephen Grrffiths Glorla Kupe Company f•glstorod number 3973439 Charlty reglster number 1081256 Roglster¢d offlc• 92 Hastings Street Luton Bedfordshire LU15BH Accountants Couedge Redfem Chartered Certsfied Accountanls Glantaf Office Llanfallteg Whitland CarmartI￿shIrQ SA34 OUT Page 1 LUTON FRIENDSHIP HOMECARERS (A Company Llmlted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual rep￿ together with the financial statements of the ccffipany for the 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees c(N)firm that the Annual Report and financial statements of the charitable company compty with the current statutory requirements, the requiremenls of the charitable compa￿$ goveming document and the provisions of the Statement of Recommended Practice {SORP) appI￿able to ¢hariiies preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Slnce ccmpany qualifi8$ as small undw sectSon 382 of the c￿￿PanieS Act 2006. the Strategic Report required of medium and large companies under the Companies Act 20(￿ (Strategic Report and Director8, Report) Regulations 2013 has been omrtted. ObJectlve8 and actfvltles a. Pollclos and ob￿ctIveS In settlng obJe¢tlve8 and plannlng for actwlties. the Tru6tee8 ha￿ glv•n due con8Sderation to general guklance published by the Charty ComMiss￿n relats'ThJ to public ben&fL induding the guKlance 'Public bene￿. running a charity (PB2)'. The chariV$ objectives and principles continue to ￿ that of.. Providing a hlghqualty home care and pers￿1 sep4ice to the eklerty and housebound Offering a sensttlve servlce that Is tallored to the 8pecific cultural needs of all the variou8 8lhnSclcultural groups seeking support and care Working with other voluntary ￿ganISatIonS to promote the need8 of the elderty and housebound within lh& community and to other ststutory agencies Being an advocate in providing a link to enable service users to access other essential services Seeking lo broaden the remit of the charrty to include working with ¢hiSJr8n within their home environment CharSty'8 Credo Our Purpose To build a charty dedicated to our service usern. Our parameter. We ftjcus our efforts exclusivety on: Whal we are passionate alxyjt What we can become best at What drives our economic stsbiliVP Our principles: We are above all the agents of our $w￿ce users Our people are our greatest asset. We should select them atten￿lY arKI invest in them passionately We are unrelenting in the pursuil of exce PursulrrfJ our ambition to be bost healthcare provxler 18 a never-endiw process "Good enough" never is Page 2 LUTON FRIENDSHIP HOMECARERS (A Company Limited by Guardntee) TRUSTEES. REPORT (coKfiNUED FOR THE YEAR ENDED 31 MARCH 2024 Obiectlves and actlvltles (contlnued b. Strategies for achieving objectives To provide a service of choicè Provision of a servlce to the communty where vcless￿￿allsrn and quality are paramount Ensure our staff feel valued and provide the appropnate training and development opportunrties such that high standards are achieved and sustained. Strive for and develop through continuous improvemenL c. Actlvlt5es undortaken to achi•v• objeciives Home care is defined as domicifiary services which assist ts service user to functDn as independently as possible andlor continue to live in their ¢y•m home. Services include routine household tssks within or outside the home. personal care of the client or respite Ca￿ in support of ts client's regular carers. The charty believes that everyone has a right to remain in their chvn home. regardless of age. illness or infirmty for as long as they can. As a home care provider we will abAvays respect ￿ rights of the seNice user lo confKlentialty and privaw. We offer a sensitive care ser¥Ke tailored to meet the fRrvice users. speofic requirements. Our seprfice delNery includas but is ￿t limited to: Personal Care Services . Assisting in getting in and out of bed . Assistance with dressing . Personal hygiene . Preparing and aiding the service user lo eat their meals . Continence managemenl . Moving and handling . Carry out activrties under the direcli(Jn ￿ a nurse. Occupats.￿al therapist or physpxhwapist . Administration of medication . Prepare meals {nulritional advi￿. special diets) . Other fomis of supportlcare lo meet P￿ICe userfs needs as agreed in the cara plan Non-Personal Care Sep4ices . House cleaning and vRshing up . Laundry and ironlrvJ . Shopping . Collecting pensions, be￿fits, prescriptsns d. Social Inveslment polk168 The Social investrnent policy of the charity is lo re-invest of its annual cash surplus into ts employees (ex- gratia payment. Christmas bonu8 I lunch arKI other social events) arKI tithe paid lo the Luton Central Seventh Day Advenlist Church. Tithe is rK)mially accrued and paid out in accordan￿ with a business case supporting w￿Y cause. e. Grant•making policios The charity was ueated to service the elderly arml vulnerable members of society within our community. In the course of satis￿"ng the objectives of the charrty and where reSoUr￿S alltrw. the charity may contribute to local charitable groupslorganisatior6 and individuals referred by local government bodies. Applications must be received in vKiting and are considered by the management commrtle8. Locally. the charity continues to offer support thmugh the loca authority to those requiring emergency short term assistance in the community. Page 3 LUTON FRIENDSHIP HOMECARERS (A Company Llmited by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 WCH 2024 Objectives and acllvftles (continued) f. Volunteèrs The chanty is ahvays responsive to w)lunteers aThl ￿￿Uld *Elcome such deed, htr•Rver. there has beèn no notable volunteers of service during the year. g. Maln actlvltles undertaken to further the compan￿9 purposes fof the publlc benefit From time to time the charity may contribute to other charities whicti share its ethos. In making such contributions there is no expectth'on for charity to accrue any financial gains. Achievements and ￿rf0M￿nee a. Maln achlevements of the company The man achtevement of the charty durmg the year has been: To maintain a positive cash surplus on the yearfs perfomiance Expand on its serwce user base by obtaining Luton Borough Council (LBC) 'Spot Contr8cr Maintain a high level of Quality of SeTvice ObtainirKJ UK Immigration Registration as a LI￿nsed Sponsor for recrutting from ovepJeas Recruitment of 16 carers frcKn abroad These are further deta'led bjwer d*y•m in this rwt b. Key perforniance Indkators The four (4) Key Perfomiance Indicators which the charity is focussed on are: Qualty People (Employees and Service Users) Revenue and Growth Cost vs Expenditure Page 4 LUTON FRIENDSHIP HOMECARERS (A Company Umlted by Guarantse) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perfornmnce (conllnued) c. Revlew of actlvllies Three of the Charivs major successas during the past 12 months have been to: Revise the way we remunerate our staff and carers. This has led to increased salarylhourty pay rates and holiday pay. Reviewing and ensuring that travel&rvJ lime is incorporated irtto carers. pay and that deduction from pay does not bring pay d¢>MI bel(w4 the level of ￿ NatM)nal Minimum Wage Drive up our revenue by. where possible. taking on larger ServKe DelI￿ry *Y>rk pxkages i.e. end of life residential care: and where possible moving towards the Private markeL All the above were underpinned with a gocKI solid financial perfomancedespite us experiencing a decline in revenue and corresponding surplus. Friendship Homecarers continues lo build its reputation through the quality of its service. The k)ss of our Approved Provider Listing (APL) with LBC is beginning to impact our (Q4) revenue and will further manifest itself in the ¢ming year {202*25).. main achievements ￿ the charity during ￿ year ware as f￿ky￿. To maintain a positlve cash surplus on the yearfs performarKe Expand on its service user base by obtain1￿j Luton Borough C¢xncil (LBC) Contracl for'supported Living for People with Leaming Disabilty and Autism. Maintaining a high level of Qualty of Service and under pinnirvJ this with the recruitinent of a Qualty Ccvnpliance Manager (Part4ime) Maintaining our UK Immigration Registration status as a Licensed Sponsor fi)r recruibng from overseas Consolidate and intsgrate the 16 carers recruited from abroad These are further detailed bekny. a1) Maintaining a positive Gash surplus on the yearfs parfmance This has been a very good year for LFHwhere ￿ have seen our revenue restored to 2021-22 le￿. bul as expected we have also seen a corresponding increase in our expendiiure vthich has stifie the level of surplus for the corresponding Per￿d. Drawing comparisons to 2022-23 perfomiance we have seen a 15.55% increase in rthpnue whilst expanditure has also increased by 18.86%. This has been largety driven by wage increase for all staff increased staff benefrts i.e.repayments for DBS. Unrfomis. On-lne training. Putting all of this into perspective. it should be congidered a good °sland ak)ne" perfomiance ¢)ver the period, attained wilhout any exiemal financial supporL Thro￿hoUt the year we saw a small decrease in our Service User base from an average of 50 to a new average of 46. closing the year with adecrease dMI to 38. This decline in the number of SU work packages is directly attributed to us losing our APL status with LBC. Our managemenl team are taking the btnecessary steps to reverse the situation, largely through increased advert￿en1. dropping of flyers I leafiets. more use of social media platfornis. 202>24 Revenue £806,360 Expenditure £797.666 Surplus £8,694 2022-23 £697,857 £671,085 £26.772 2021-22 £806.992 £768,977 £38,015 Increase l Decrease % Growth £108,503 15.55% £126,581 18.86Q -£18.028 7.34% Notwithstanding aIl the above. this has been a good perfornwnce given the challenges we faced throughout the year which can be characterwl as follows: Page 5 LUTON FRIENDSHIP HOMECARERS (A Company Umlted by Guarantee) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENOED 31 MARCH 2024 Achl•vements and performance (contlnued) 1) A further Increase In expenditure from 13.52% during the provlous year to 18.86% for Ihls year Is nol all surprising gfven the steep increase In National Lmng Wage (NLII4. The Increase of 18.86% is in line with expeclation given the prevailing Inflation rate. rising costs. Further evidenced by managements, effort in keeping cost dMI. namely in the area of dropoff and pICk￿P and the transportatson of non4lriver carers. 2) Implementstion of uplift in National LivirKJ Wage up 9.45% (to £10.42thr) whilsl the LBC Direct Payment rate went up by onty 6.18% (£19.241hr). In line with govemm•nt guldelines LFH had no opllon other than to I￿rease the mlnlmum wage paid to Carers a8 Outlined above in (2). We certainly do not begrudge the incre88é but Wished we could have gone further. 3) A hostlb compelltlve envlronmant parslsts: more than 50 domldlbary care companle8 In the Luton catchment area. The NMLW went up by 100p as of 1st AP￿ 2023 from £9.42hr to £10.421hr. a 9.45% increas•. There was also an increase in Luton Borough Cwncil (LBC) Direct Payrnent (DP) houty rate from £18.12 to £19.24 (6.18Qh Increase); th1$ ha8 been a very wekomed Increased and but 80mthvhat short of the mark in terns of perconlage increaBe. 4) Funclloning for a larga part of the year wth Ilmtted 81aff ha8 been an kssue due to poor retonllon rate and lack of Care Seth resource8. The market place in and around Lulon continues lo be very cr￿￿1&d with numerous start up undercutting to gain market sharn. At any one tlme there are approxllnatefy 50 Com￿￿or8 Jostllng for positlon. 5) There ha$ been an irnpact in that Ihe upskilling rate of the recent recruits have been slow but they are n90% stated that the Service they received made an improvement to their qualty of lrfe. a4) Company Vehicles The Charily have k)ng been eXperie￿ing diffKulty in getting non-driving carers around to P￿[￿ their dut*s. LFH have been utilising private contractors to chauffer the carers around but this has provedto be very costly and as such financial￿ not V5able. There has been a marked shffl away from the use of contractors chauffeuring carer in that carers are making better use of public transport, rk3mely buses, to get their first call and making their way home after their kst call. Carer drivers are being more cooperative in taking their colkagL&8 around in between calls. In summary, Ihis has been a reafy very outstanding performance by the Charity as it continues to consolidate ts pla￿ in market through building of its reputation for delivering excellent value for MO￿ services and having ensured we have the right people in place to do so. d. Factorn relevant to achleve objectlves The factors bearing dthvn on our ability to achievè our obiectsves were as follows: The prevai5ing market place. namdy very high level of competsts)n. due to cruwded market place Availability & retention of resources, namely carers Ability to attract new Servi￿ users Rising cosl and d￿reaSing margins e. Fundraislng activltl•s and Income generation No specffiG fund raising activlles have been undertaken by chaTity. The charivs principal fundiTh3 is through the aclNities of the organisalion and this is support by ongoing advertisement and marketing. Any donations received will not accrue any entitlement to the decisionqnaking authority of the charity. External funding will not dNert the charity from its agreed aims arKI ObJ￿tIves. Any donations will nomally be acknowledged in public reports and accounts. The charity also recognises that there are other methods of raising funds. which have not yet been fully explored, these include social evenis and sponsors. Page 7 LUTON FRIENDSHIP HOMECARERS (A Company Lhnlted by Guarantso) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perfomianc• (contlnued) f. Investmènt pollcy and pèrIom￿nc0 By the very nature of the charityls business there has been no fomiulated material investment policy. Hwling said that, the charity has acquired and invested in the freehold of rts headquarter building, namety 92 Hastings Street. Thrs has Increased in fdlue in excess of since acquisition in November 2015. Flnanclal revlew . Golng concem After making appropriate enquiries, the Trustees have a rea80nable expectation that the company ha8 adequat6 resources to ￿ntinUe in operational existence for foweeable future. For this reason. they continue to adopt the going concem basis In preparing the financlal statements. Further detai18 regarding the adoption of the golng concem bas￿ can ￿ found In the accounting pollcles. b. Roserves pollcy The ¢hariVs reserve pollcy 18 to malntaln enough cash to pay Iwo months deb18 Includ1￿, Salarhs. ut51itles, 8upplle8 and other monthly expendilures. . Mat•rfJl Investments pollcy By the very nature of ttK8 charitys busimss Ihere has been M fomiulated material investment Policy. Having said that, Ihe charity has acqulred and Invested in Ihe freehold of its headquarter building. namety 92 Hasting8 Street. If in future, developments require Slmilar investrnents, ttr￿n the I￿￿te89 wruld dellbarate and decide as appropriate d. Prlnclpal rlsks and uncertalntles The principal risks faced by the charity is twofold: a) Our ability to recruit and retain key personnel's. in parI￿lar carers. to deliver quality servlces to our service user8 b) Our abillty to attract ntsy sep*ice users at ￿ right time, thus maintain a steady stream of incomelrevenue e. Flnanclal rlsk management objectlves and pollcles The Tru8tees have a88essed th• major rlsks to which the company is exposed. in particular those related to the operations and flnances of the company, and are satisfied that 8yStams and procedures aro in place to mitigate our exposure to such risks. l. Prfnclpal fundlng The principal funding ￿ the charity is gained from tha business ff( conducts dèlivering ¢are io our servi￿ Users in and around the communty. Page 8 ## **LUTON FRIENDSHIP HOMECARERS (A Company Limited by Guarantee)** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **Structure, governance and management** ## **a. Constitution** The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 April 2000. The company is constituted under a Memorandum of Association dated 14 April 2000 and is a registeredcharity number 1081256. The principal object of the company is to contribute positively to its local community by offering a home careservice which is driven by a high standard of quality; and the need to meet the local diverse ethnic mix. The last AGM was held on the 28 October 2023 and the next one is scheduled for 26 October 2024. ## **b. Methods of appointment or election of Trustees** The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. ## **c. Organisational structure and decision-making policies** The management committee meet quarterly with the Trustees to monitor, develop and promote the activities and objectives of the charity. Ad hoc meetings are called as and when the need arises. The Business Manager and Care Manager oversee the day to day running of the charity. Decisions are made in accordance with the charity's policies, procedures and code of conduct. If the Business Manager does not possess the authority to approve certain decisions, then recommendations are made to the management committee, and if needed, to the board of Trustees. ## **d. Policies adopted for the induction and training of Trustees** The charity’s recruitment of Trustees is undertaken, mainly through recommendations and “word of mouth”. Candidates are assessed and if deemed suitable are followed upon with interview, references and DBS check. The successful applicant(s) is then taken on after the receipt of suitable references and DBS clearance followed by induction through half-day session during which training requirements is also assessed. Agreed training will be undertaken subject to mutual agreement on date and time. ## **e. Pay policy for key management personnel** The Charity’s pay policy for key management personnel is to endeavour to remunerate in line with market trend whilst being cognizant of our charitable status in that we may never attain compatibility with the public/private sector. ## **f. Related party relationships** The charity is non-aligned and does not have any affiliation to any one party. Page 9 LUTON FRIENDSHIP HOMECARERS (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plan8 for future perlods The folk)wlng continue to be key high-level prioritle8 set for the next perlod ending March 2025: - Broaden the charitys sep4ice8 Portfolio to include but not limited to; a) the delivery of servkces for living-in ¢areser￿¢Ce8 to adutts and palliative care b) supported people INing in the community with learning disabilities and autism - Continue revlew of charftys governlng documents - Seek new ¢)pportunltles for growth - Continuing to Implement best pracllce Sn accordance wlth'General Dala Protectlon Regulatlon (GDPR) (EU) 20161679 c) The management team are currently exploring entering into Joint Venture (JV) with the South England Conference of the Seventh4lay Adventistchurch (SEC) to establish a Residential Care Home. Statement of Trust068' rn3pon81bllltleg The TNsteas (who are also the directors of the company for the purposes of company18w) are responsible for preparing the Tru8tee8' Report and the financlal 8tatem8nt8 In accordance with applicable law and Unltad Kingdom Accountlng Siandard8 (Unlted Klngdom Generally Accepted Accounilng Practlce). Company law requlres the Trustees to prepare flnancial statements for each financlal , Under company law, tho Trustees must not approve the financlal Statements unless they are sat18fi8d that they glve a true and falr vlew of the state of affairs of the company and of its Incoming resources and appllcatlon of ra8ource8. Sncludlng it8 Income and expondlture, for that perIod. In preparlng these financLql 8tatemant8, the Tru8tee8 are requlred to., select sultable accountlng polkl88 and than apply them con818tently; obseNe the methods and principles of Ihè Charities SORP (FRS 102); make judgments and accountlng 88tlmates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have bean folloNed, subject to any material departures dlsclosed and explained In tho flnanc5al 8tatement8: prepare the financial statements on the golng concem basls unle88 it18 inappropriate to presume that thè company wlll Con￿nUe In bu8ines8. The Trustees are responslble for keeplng adequate accountlng records that are sufficlent to show and explaln the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them lo ensure that the financial statements comply with the Companies Act 20Q6. They are also responsible for safeguarding the assets of the company and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 19 September 2024 and signed on their b•half by: Pastor Itamar James {Chair of Trustees) Page10 LUTON FRIENDSHIP HOMECARERS (A Cwpany Umlted by Guarnnteol INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to tho Tru5tg95 of Luton Frfondship Homecarers company.) I report to the Gharity Trustees on my examination of the accounts of the company for year ended 31 March 2024. Responslbllltle5 and Basis of Report As the Trustees of the company (and its direclors for the purposes of company law) you are responsible for the preparation of the accounts in accordance Ihe requirements of the Ccmpanies Act 2006 Cthe 2006 Acr). Having satiSf￿d my3elf Ihat the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for indeperKJent examinalion. I report in respect of my examination of the company's accounts carried out under section 145 of the char￿e$ Act 2011 fthe 2011 Act,). In carrying out my exarninatlon I have followed the Diractm given by the Chafty c￿￿MiSsion under section 145(5)(b) of the 2011 Act. Independent Examlnerfs SLqtefnent Since the companys gross income exceeded £250.000 your examiner must ￿ a member of a body listed in section 145 of the 2011 ACL I confimi that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examinats'on. I confirm th* no matters have ccKne to my attention in connection wilh the 8￿9mlnatIon giving me cause to bebgve: accounting records were rK)t kept in respect of the company as required by section 386 of the 2006 Act: the accounts do not accord with Ihose records: or the accounts do not Corn￿ with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fa.rf view ￿1¢h ts not a matter consKlered as part of an independent examinalion" or the accounts have not been prepared in ￿￿dance wilh the methods and principles of Statement of RecommerKled Practs'ce for accounting and reporb'ng by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have cc¥ne across no other matters in connection with the examination to whid) attentlcm should be drawn In this report in (xder to enable a proper understanding of the accounts to be reached. This report is made solety to the companys Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Repo Regulations 2008. My WOTk has been undertaken so thal I might state to the companys Trustees those matter am required to slate to them in an Independent Examineffs Report and for no other purpose. the fullest ent permitted by law. I do not accepl or assume responsibility lo anyme other than the c¢)mpany com y's Trustees as a body. for my work or for this report. Dated: 19 Seplember 2024 FCCA Co Ch re Ce Accountants Page11 LUTON FRIENDSHIP HOMECARERS (A Company Limlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT> FOR THE YEAR ENDED 31 MARCH 2024 Unrestrl¢t•d funds 2024 Total funds 2024 Total funds 2023 Note Income from: Charitable activities Imiestments 799.973 6,387 799,973 6.387 696,823 1,033 Totsl income 806.360 806,360 697.856 Expenditure on: Charitable activities Other expenditure 797,666 797,666 670.941 143 Total expendlture 797.666 797.666 671,084 Net movement in funds 8,694 8,694 26. 772 Recon¢lllatlon of funds: Total funds brought fomard Net movement in funds 600,004 8.694 600,004 8,694 573.232 26, 772 Total funds carrfed fO￿ard 608,698 608,698 600.004 The Statement of Financial Activities indudes all gains and losses reccgnised in the year. The note8 on pages 15 to 21 fomi part of these financial slatements. Page 12 LUTON FRIENDSHIP HOMECARERS (A Company Limited by Guaranteo) REGISTERED NUMBEK" 3973439 BALANCE SHEET AS AT 31 AIARCH 2024 2024 2023 Flxed &wets Tangible assets 151.528 154,071 151.528 154.071 Current assets Debtors Cash al bank and in hand 10 89,527 411.799 70,984 421,253 501,326 492,237 Creditors: amounts falling due Imthin one year 11 (44.15n (46.304) Net current assets 457,169 445,933 Total assets legs current liabllltles 608.697 600.004 Net assets excluding pension assét 608.697 600,004 Total net assets 608.697 600.004 Charlty fund8 Restricted funds Unrestricted funds 8.697 Total funds 608.697 Page 13 LUTOM FRIENDSHIP HOMECARERS (A Company Limited by Guarantee) REGISTERED NUMBER: 3973439 BALAPICE SHEET (COKllNUED) AS AT 31 MARCH 2024 The CoMp￿Y vras entilkd to exempl￿ fr¢m audit WHler section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in questicm in accowdance with seclion 476 of C¢>npanies Ad 20C6. The Trustees acknowled9e their responsibilities for CoMpl￿.￿j wth the requirements of the Act with respect to accounling recorth arKI preparation of firwKo1 ststements. The financial statements have been prepared in aCCC*rdance with the provtsi()ns applicable to entilies subject to the small companles regime. The financial statements ￿re approved and authorfsed for issue by the Twstees on 19 September 2024 and slgned on their behalf ty. Pastor Itamar James (Chair of Trustees) The notes on pages 15 to 21 fomi part of these financd slatements. Page 14 LUTON FRIENDSHIP HOPAECARERS IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Genaral infomiation Luton FrierKlship Homecarer5 is registered as a charitable company limited by guarantee, registraiion number 3973439. The registered address is 92 Hastings StreeL Lulon, Bedfordshire. LU15BH. Accounting policies 2.1 Basls of preparation of finandal statements The financfal statements ha￿ been prepared in accordance with the Charities SORP {FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab￿ in the UK and Republic of IrelarKI (FRS 102) (effecti￿ 1 January 2015). the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland {FRS 102) and the Companie5 Act 2006. Luton FrierKlship Homecarers meets the definiti￿ of a Publ￿ benefil entity under FRS 102. Assets and liabilities are initialfy recognised * historral cost or transaction value unless otherwise stated in the relevant accounting policy. Z2 Incom• All income ts recognised once the ry)mpany has entitlement to the income. it is probable thal the income will be received arKI the amount of income receivable can be measured reliably. Income lax recoverth in relalion to investment income is recognlsed at the twna the investment income is receivable. 13 Expendrture Expenditure is recognised once there is a legal or constructive obligation to transfer ecorK)mic benefit to a third party, it is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligaiion can be measured reliably. Expenditure is classified by acti4ity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each acb'vity. Direct costs attributable to a single activity are allocated directly to that actiwty. Shared costs which contribute to more than one activiiy and support costs which are not attributable to a single activity a￿ apportioned betw￿ those activrties on a basis consistent with the use of resources. Central staff costs are alkjcated the basis of time spent, and depreciation Charges allocated on tho portion of the asset's uso. Expenditure on charitable activit*s is incurred on directy undertaking the activities which further the compan￿5 objectives. as ￿11 as any associated support costs. All expenditure is inclusive of irrecow&le VAT. 14 Interest recelvable Interest on funds held on deposit is irKluded wtr￿n receivable and the amounl can be measured reliably by ts company, this is nomially upon notif￿ation of ts interest paid or payable by the institution wtth whorn the funds are deposited. Page 15 LUTON FRIENDSHIP HOIAECARERS (A Company Limited by Guarantse) NOTES TO THE FINANCIAL sTATEME￿rs FOR THE YEAR ENDED 31 MARCH 2024 Account5ng pollcles lcontlnued) IS Tanglble fix￿ ag8ets and dopr•clatk)n Tangible fixed assets Costing £1000 or more are capitalised and recognised when future economlc benefits are probable and the cost or value of th6 assei can be measured reliably. Tangible r￿ed assets are initAlly recogni8ed at cost. After recognition, under the cost model, tsngible fixed assets are measured at cost le38 accumulated depreciation and any accumulated impalmient losses. All costs incurred to bring a tangible f￿ed asset into its intended working condition should be included in the measurement of cost. Depreclatlon is charged so as to 811ocate the cost of tanglble fixed 8ssets less thair reslduel valu8 over their estimated useful lives, . Deprgclation is pro￿ded on the foll￿1ng bases: Plant and machlnery Motor vehicles Office equipmont Computer equipment - 25% reduclng balanco - 25•A reducing balance - 250/0 reducing balance - 250/0 reducing balance 16 Debtorg Trade and other debtors are recognSsed at the settlement amount after any trade di8count offered. Prepayments are valued at the amount prepaid nat of any trade discounts d￿. 2.7 Cash at bank and In hand Cash at bank and in hand indudes cash and short-tenn highly liquid investments with a short rnaturlty of three month8 or less from the date of acquisbtson or openlng of Ihe deposit or similar account. 2.8 Llabll1ti￿ and provlslons Liabilrties are recognised when there is an Obligat￿ at the Balance Sheet date as a result of a past event. it ig probable that a transfer of econ(xnic benefit will be required In settlement. and the amount of the settlement Can be estlmated refiably. Liabilities are recognlsed at Ihe amounl Ihat the C￿MpanY antidpates it will pay to settle th8 debl or the amount it has re¢ei*d as advanced payments for goods or services it must provido. Provisions are measured at the best esiimate of the arntyjnts required to settle the oblwation. Where the effecl of the lime value of money 15 material. the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that refiects the risks specific to the liability. The unwinding of discount is recognised in the Staiement of Financial Activities as a finance cosl. 19 Flnanclal Instrnments The company onty has financial assets and financial liabilitsès of a kind Ihat qualify as basic financial Instruments. Basic fina￿la1 instwments are initialty reccgnl8ed at transaction value and subwuently measured at their settlement value the exception of bank loans which are subsequently measured at arnortwj cost US4n9 the effectNe interest method. Page 16 LUTON FRIEt4DSHIP HOMECARERS IA Company Llmlted by Guaranto9> NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢los IGontlnued) 2.10 Fund accountlng General funds are unrestr￿ed funds which are available for use at Ihe discretion of the Trustees in furtherance of the general obJ"ectives of the company and which have not been designated for other purposes. Designated funds cornprlse unrestricted funds that have been set aside by the Trustees for partlcular purposes. The aim and use of each desbgnated fund is set out in the notes to the financial 6tatement8. Investment income. gains and losses are alkKated to Iho apPrOpr￿te fund. Income from charllable actfvlUe8 Unrnstrlctod funds 2024 Total funds 2024 Total funds 2023 Income from charttable actlvitles - Care for elderty and housebound 799,973 799,973 696,823 Investment Income Unrnstrlcted funds 2024 Total funds 2024 Tot81 funds 2023 Interest received 6.387 6,387 Paga 17 LUTON FRIENDSHIP HOMECARERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture on charitablo actlvitias Summary by fund type UnrestriGted funds 2024 Total 2024 Total 2023 Staff salaries Other staff costs Employer's Nl and pension contributions Care cover and contractor fees Office supplies and services Insurance Depreciation Accountancy and auditi'ng Premises expenses 618,291 37,268 59,336 61,516 15,302 4,343 943 3,037 (2,370) 618,291 37,268 59.336 61,516 15,302 4,343 943 3,037 (2.370) 488,045 63,816 40, 131 47,481 18.051 5,545 1,019 3,537 3,316 797.666 797,666 670,941 Total 2023 670,941 6T0,941 Olher expendltur• Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Donations payable to other charities 143 Page 18 LUTON FRIENDSHIP HOMECARERS (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Anatysls of axpendlture by activitles Actfvftles undertakon dlreclfy 2024 Support costs Total funds 2024 Total fvnds 2023 Staff salaries Other staff costs Employefs Nl and P￿￿10n contributions Care cover and contractor fees Office supplies and services Insurance Depreciation Accountancy and audiling Premises expenses 618.291 37.268 618,291 37,268 69,336 61,516 15.302 4.343 488.044 63,816 40. 131 47.480 18.052 5,545 1.019 3.537 3,317 61.516 15.302 943 3.037 {2.370) 3,037 (2,370) 780.754 16.912 797,666 670, 941 Total 2023 64&018 25.923 670,941 Truste8s' remuneratlon and expenses During the year, ¢)ne or more Trustees has been paid remuneralion or has received other beneffts from tho company. It was agreed at a board meeting. at which he Ivas not present. that Mr McNeil would be paid remuneration for his services. The value of Trustees, remuneration and olher benefits was as fdlows: 2024 2023 Nigel McNeil 26,816 27.379 During the year ended 31 March 2024. Trustee expenses have been incurred (2023 - £NIL). Page19 LUTON FRIENDSHIP HOMECARERS (A Company Llmtted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Freehold property Plant and machlnery Motor v8hlcles Total Cost or valuatlon At 1 April 2023 Disposals 150.000 21,288 4.700 (2,700) 175.988 (2,700) At 31 March 2024 150,000 21.288 2,000 q73.288 D•pre¢latlon At 1 April 2023 Charge for the year On disposals 20.977 63 21.917 320 (5401 (540) At 31 March 2024 21,040 720 21.760 Net book value At 31 MarGh 2024 160.000 1280 151,528 At 31 March 2023 150.(X 311 3. 760 154.071 Based on advice from local Estate Agents. the Trustees have form8d tha opinlon that the fieehold propety at 92 Hastings Street has a market value of £375,000. 10. Debtors 2024 2023 Due wlthln one year TTade debtors Other debtors Prepayments and accrued income 84,698 62,552 4.480 3.952 4,739 89,527 70.984 Page 20 LUTON FRIENDSHIP HOMECARERS (A Company Umltod by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Croditorg: Amounts falllng due wlthln one year 2024 2023 Trade creditors Other taxation and social secuiity Other credrtors Accruals and deferred Income 2,820 15,216 8.638 7.608 1.685 28,373 26,121 44,157 46,304 12. Summary offund8 Summary of funds - curront year Balan¢a at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Expendlture Deslgnated funds General funds 37,697 562,307 1,610 <1,610) 39,307 669,390 806,369 1797,666) 600,004 806,359 (797.666) 608,697 Summary of funds - prlor year B81ance at 31 March 2023 8alanGe at l April 2022 Tr8nsfe in/out Income Expendilure Designated funds General fund8 33,590 539.643 4, 107 (4, 107) 37,697 562,308 697,857 (671.085) 573.233 697,857 (671,085) 6QO,005 13. Related party transactlons The company has not entered into any related party transaction dunng the year. nor are there any outgtandlng balances owing beiween related parties and the company at 31 March 2024. Page 21