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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 04010653 (England and Wales) REGISTERED CHARITY NUMBER: 1081784

The Northam Care Trust (A Company Limited by Guarantee)

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2024

Sumer Auditco Ltd Statutory Auditors 69 High Street Bideford Devon EX39 2AT

The Northam Care Trust

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 12
Report of the Independent Auditors 13 to 16
Statement of Financial Activities 17
Balance Sheet 18 to 19
Cash Flow Statement 20
Notes to the Financial Statements 21 to 34
Detailed Statement of Financial Activities 35 to 36

The Northam Care Trust

Reference and Administrative Details for the Year Ended 31 March 2024

TRUSTEES Mr R S Stoneman Chair Mr P R Mole Vice chair Miss J L Boydd (appointed 13.12.23) Mr T J Corkery Mr R W M Down Mr C D Fulford Ms J H Whittaker Ms C A Tudor (resigned 30.10.24) COMPANY SECRETARY Ms K V Kerley REGISTERED OFFICE Rose Hill Heywood Road Bideford Devon EX39 3PG REGISTERED COMPANY 04010653 (England and Wales) NUMBER REGISTERED CHARITY 1081784 NUMBER INDEPENDENT AUDITORS Sumer Auditco Ltd Statutory Auditors 69 High Street Bideford Devon EX39 2AT

CHIEF EXECUTIVE OFFICER Ms J Howell

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

The Northam Care Trust

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31[st] MARCH 2024

Page 2

The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

Contents

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|||| |---|---|---| |REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31|[st ]|MARCH 2024 ............................ 2| |OBJECTIVES AND AIMS ............................................................................................................... 2| |OUR VISION .................................................................................................................................... 2| |OUR MISSION ................................................................................................................................. 2| |OUR CORE VALUES ...................................................................................................................... 2| |PUBLIC BENEFIT ........................................................................................................................... 3| |STRATEGIC REPORT .................................................................................................................... 4| |ACHIEVEMENTS AND PERFORMANCE ............................................................................... 4| |FUNDRAISING ACTIVITIES ....................................................................................................... 6| |FINANCIAL REVIEW AND GOING CONCERN .......................................................................... 6| |RESERVES ....................................................................................................................................... 6| |RISK MANAGEMENT .................................................................................................................. 7| |FINANCIAL AND RISK MANAGEMENT OBJECTIVES ....................................................... 7| |FUTURE PLANS ............................................................................................................................. 8| |STRUCTURE, GOVERNANCE AND MANAGEMENT ............................................................... 8| |STATEMENT OF TRUSTEES’ RESPONSIBILITIES ................................................................. 10|

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31[st] MARCH 2024

The Trustees, who are also Directors for the purposes of company law, are pleased to present their Annual Directors’ Report together with the financial statements of the Charity for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2019).

OBJECTIVES AND AIMS

Our Vision, Mission & Values are at the heart of everything we do and guide The Northam Care Trust towards making a difference in the learning and physical disability space and for those we support. Our Vision, Mission, and Values are important not only for the trust and those we support but also for the positive impact we can have on society in driving the changes for those with a learning or physical disability. Whether this is through being more inclusive in our employment strategies for those with a disability or by empowering individuals to being more involved with the community, we're guided to make positive societal changes for those with a disability.

OUR VISION

OUR VISION is a society where we aspire for everyone to have equal access to the same rights and opportunities. A society where people with learning disabilities are able to exercise full citizenship with all its rights and responsibilities, where every person will be empowered and supported as necessary including people with profound and multiple disabilities and complex needs, to safely live their lives to their full potential within their communities.

OUR MISSION

OUR MISSION is to support adults of all ages with learning and physical disabilities in having choice and control in achieving the best possible quality of life, evidenced by real quality outcomes, and supported by our passion for excellence.

OUR CORE VALUES

We promote and work to our core values and behaviours to ensure the best quality of care and support is being delivered to everyone who uses our services.

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

More information on the activities of the Charity can be viewed on our website https://www.northamcaretrust.co.uk/.

PUBLIC BENEFIT

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The charity’s aim and its public benefit requirements are undertaken through a range of programmes and services as identified in our objectives aims and achievements sections, supported by charitable funds provided by our generous donors. All surpluses are reinvested in improving services or accommodation for the people we support.

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

STRATEGIC REPORT

ACHIEVEMENTS AND PERFORMANCE

During the year under review, we are pleased to report that we have maintained high standards of care and support across all of our services. In February 2018, our residential lodges underwent a CQC Comprehensive Unannounced Inspection and were rated "Good" in all categories. Similarly, our supported living services were inspected by the CQC in June 2021, receiving a "Good" rating across all areas. We remain committed to ensuring these standards are upheld, and we continue to use quality monitoring to drive improvements, ensuring these ratings are maintained in any future inspections. As part of this effort, we regularly conduct surveys with families professionals, and staff at our lodges to gather feedback and identify areas for further enhancement. We have aligned each services’ service improvement plan with the quality statements CQC use to assess and rate us. This helps us to understand where our gaps are and where we are exceeding the quality outcomes for people. We introduced a cross-audit system whereby managers audit key aspects of each other services. This helps with having independent eyes on services, sharing best practice and learning from each other’s accident and incidents. We have run workshops for service managers on understanding quality audit processes and ensuring they are fully invested in their own service improvement plan. We have looked at ways we can acknowledge staff excellence and have nominated key staff for national awards, where we had a highly commended in the national learning disabilities and Autism award, and highly commended for best newcomer in the region Best British Care awards.

Throughout all our services, we have also continued to provide robust training opportunities for our staff. Increasing numbers of employees are achieving NVQs, the Care Certificate, professional qualifications in various disciplines, and other industry-recognized awards. In line with our modernisation programme, we successfully transitioned to eLearning, electronic monitoring, and care planning systems. This year, we implemented a new online HR system. While still in the process of being fully established, this system will allow us to maintain high-quality records that can be monitored remotely, covering all staffing information, including annual leave, sickness, and staff rotas.

Our day opportunities and community services, delivered through Rose Hill Community Projects and Outreach Services, have continued to grow. This year, we upgraded our sensory room with state-of-the-art sensory equipment and an overhead hoist, enhancing the experience for service users. We have also strengthened our partnerships with local schools, participating in gardening and art projects, and maintained our close collaboration with the Atlantic Racquet Centre, where our service users have access to racquet sports and gym facilities.

Our transition support for young people from Pathfields and Lampard Schools remains a cornerstone of our efforts, helping them move smoothly into adult services through quality day opportunities.

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

We continue to invest in our staff, focusing on both pay and working conditions, with a particular emphasis on well-being. Our Well-being Manager produces a monthly newsletter, providing valuable information and resources to support staff well-being. We have also established an Equality & Diversity board, open to all staff and people we support, which meets bimonthly to discuss and promote inclusivity within the organisation. Additionally, we launched an Employee Assistance Programme, offering support to all employees. We have introduced an Impact Report to enhance transparency and provide clearer insights into our strengths and areas for improvement. We produce a bimonthly trust wide newsletter which promotes the work we do, our events and keeps everyone in the loop about what we have achieved over the previous two months. This has been a resounding success with our staff and families. We have also improved our overall website and social media presence.

We are proud to have achieved accreditation from the Contractors Health & Safety Assessment Scheme (CHAS) and to continue being recognised as Disability Confident employers. The Disability Confident scheme supports employers in recruiting and retaining talented individuals, helping to:

The scheme also highlights employers who are dedicated to inclusion and diversity in the workplace.

At every level, all staff, regardless of ability, receive at least six one-to-one support and supervision sessions with their line manager to review training needs and discuss career development. As a trust, we are committed to ensuring that all staff are given the necessary training to perform their roles effectively and safely. Employees also benefit from an annual appraisal where their successes and achievements are recognised, and objectives for future development are set for the coming year.

Each branch of the trust holds regular team meetings, giving all employees the chance to voice their opinions on the day-to-day running of their team and the organisation. Where possible, senior managers attend these meetings at least twice a year, and the CEO attends once annually. In addition, we hold "Care to Share" clinics twice a month, where senior team members make themselves available to staff to discuss concerns and ideas for improvement. We also conduct an annual staff survey, followed by a "You Said, We Did" action plan once the results are collated. Key updates are communicated to staff via email and can also be shared through SAGE HR.

The results of the annual staff survey are shared with trustees to help them understand staff morale and key issues they wish to see addressed. Together with the executive team, the trustees shape the company's direction and future business goals, considering the survey and pulse check feedback. For example, last year, staff expressed a desire for better rewards beyond pay. In response, we increased sick leave and granted an additional day's leave for staff to take on their birthday. We also invested in an improved Employee Assistance Programme, providing staff with 24/7 access to a helpline and skilled professionals.

In our case, directors who serve as trustees review quarterly reports from all department heads, with each invited to attend a board meeting at least once a year. The trustees meet with the CEO and Finance Director for board meetings at least 10 times a year. The chairperson also meets with the CEO six additional times annually to discuss trust compliance and any arising issues. Trustees visit all services at least once a year, engaging with staff and the people we support to listen to their feedback.

.

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

FUNDRAISING ACTIVITIES

This year saw a significant increase in our fundraising efforts, with events and grant applications raising £93,060. These funds have enabled us to purchase a new minibus, complete the refurbishment of our sensory room at Rose Hill, including the installation of an overhead hoist, upgrade various areas of our buildings at Rose Hill and our residential lodges, purchase a new jacuzzi bath, and continue supporting our Elderly People Project.

All fundraising activities, whether conducted by or on behalf of the charity, are managed by the Trustees or staff, with no involvement from commercial participators. Our fundraising was not subject to any voluntary regulatory schemes or standards. The charity has diligently monitored all fundraising activities and is pleased to report that no complaints were received regarding these efforts.

FINANCIAL REVIEW AND GOING CONCERN

The statement of financial activities for the year reports a net surplus of £100,096. This includes a surplus of £59,095 from unrestricted funds (general charitable activities) and £41,001 from restricted funds.

This year, we faced several operational and financial challenges, with the most significant being the financial unsustainability of our domiciliary care service. Unfortunately, we had to cease this service, as the local authority's fee increases did not keep pace with rising wage costs and the broader cost of living. Additionally, the rural location we were covering proved difficult to staff and therefore build the business up. These pressures have presented ongoing financial challenges for the charity.

Despite these difficulties, the charity remains committed to operating efficiently and delivering high-quality care to the individuals we support. We are actively exploring new service development opportunities to generate additional income and improve our overhead distribution, enhancing overall operational efficiency.

We are continuously reviewing our fee structures with local authorities to ensure they accurately reflect the true cost of care. This remains an ongoing process, particularly as the needs of the people we support evolve with age and changing health conditions.

The trustees confirm that the charity remains a going concern, with sufficient resources to fund its ongoing activities.

Donations and fundraising efforts play a vital role in supporting our financial stability. The generous contributions from local fundraising groups and events allow us to offer additional activities and equipment that would otherwise be difficult to secure.

We are deeply grateful for the generous donations received throughout the year and extend our sincere thanks to all our supporters and event participants. Every donation, no matter how small, is gratefully received and makes a significant difference to the lives of those we support.

Additionally, the charity holds personal accounts for each resident within the charity’s accounting system. These accounts receive benefits on behalf of the residents, enabling them to access funds for personal items, holidays, and excursions. All residents’ personal funds are held in a separate bank account with Barclays Bank plc, independent of the charity’s own assets.

RESERVES

The charity's reserves policy ensures that we have sufficient funds to meet our commitments and continue delivering our services, safeguarding against any significant disruption to our charitable activities.

The trustees have adopted a formal reserves policy to maintain a minimum of 3 months' operating costs and emergency funding, with the aspiration to hold 6 months' reserves where this does not impact immediate funding needs. Operating costs have been calculated to include wages and core running expenses (e.g., heating, lighting, and insurance). Emergency funding requirements are based on the demands faced during the COVID-19 pandemic and the uptake of new services, including void costs. Based on these calculations, 3 months' operating costs and emergency funding amount to £1,600,000 and 6 months' reserves to £3,200,000.

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

The charity's reserves policy is reviewed annually.

Total funds held: £1,802,720.

Restricted funds held: £109,811.

Amount of funds tied to tangible fixed assets: £1,002,094.

Amount of unrestricted funds not tied to fixed assets as of 31 March 2024: £783,002.

The fixed assets fund has been designated to cover the net book value of tangible fixed assets to reflect the fact that these are not readily realisable.

The capital work and major repairs fund has been designated to provide a ready source of funds for repair or acquisition of buildings, leaseholds, furniture, fixtures, and equipment necessary for the effective operation of the organisation and programs.

The voids reserve fund has been designated to subsidise residential services if there are void rooms (attracting no fees) in order to maintain the same high quality of care for the remaining clients.

The new service development fund has been designated to ensure resources are available to support the development of a new service without impacting regular operations or budgetary constraints

RISK MANAGEMENT

FINANCIAL AND RISK MANAGEMENT OBJECTIVES

A formal risk management process exists to assess business risks and involves identifying the types of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying how best to mitigate the risks where possible. The Trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.

The most significant financial risks facing the charity together with proposals for dealing with those risks are:

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The Northam Care Trust

Report of the Trustees for the Year Ended 31 March 2024

FUTURE PLANS

We have identified our priorities for the next few years and have considered timescales and sound strategies for our plans.

Our priorities for the Charity are as follows:

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Northam Care Trust is a charity in the form of a company limited by guarantee and is governed by its Memorandum and Articles of Association. Founded in 1978 as the Torridge Association for the Disabled Children and subsequently renamed, it was incorporated in June 2000 as Northam Lodge and renamed as The Northam Care Trust on 4 May 2018.

RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES

New Trustees are appointed in line with the Charity's Trustee Recruitment and Induction Policy and are provided with the information they need to fulfil their roles.

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Report of the Trustees for the Year Ended 31 March 2024

The Northam Care Trust

ORGANISATION STRUCTURE

The Charity is governed by a Board of Trustees. All Trustees have been selected for their knowledge of the care and health sectors and/or for their professional skills and experience in business, law, finance, fundraising, health, administration and property enabling them to contribute to the Charity’s development. Guinness Care and Support is entitled to appoint two Trustees to the Board, although they have not chosen to do so. New Trustees are appointed in line with the Charity’s Trustee Recruitment and Induction Policy and are provided with the information they need to fulfil their roles. Our Trustees all work to a Code of Conduct which underpins their commitment.

The Chief Executive, Jo Howell is responsible for the day-to-day operations of the Charity and manages the organisation and staff on behalf of the Trustees. Jo was appointed in May 2022. She is supported by Katy Kerley, Finance Director and by other members of the Senior Operational Management Team.

DECISION MAKING

The Trustees are responsible for decision making which takes place at regular Trustee meetings. Operational decisions are delegated to Executive and Senior staff members.

INDUCTION AND TRAINING OF NEW TRUSTEES

New trustees undertake a detailed briefing on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, the memorandum and Articles of Association, the decision-making processes via monthly trustee meetings, the business plan and minutes of previous trustee meetings plus all tabled documents, budgets, accounts and reports.

KEY MANAGEMENT REMUNERATION

The pay of key management personnel is set by the Trustees.

RISK MANAGEMENT

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Significant financial risks

Monthly review of any significant financial risks via regular meetings with the Chief Executive Officer, Finance Director and other members of staff.

Potential financial and non-financial risks

Regular close contact with the Chief Executive Officer, Finance Director and other key management staff to assess potential financial and non-financial risks in all parts of the operation.

Reserves policy

The reserves policy helps to mitigate risk by setting aside funds to deal with unforeseen eventualities.

Non-financial risks

Non-financial risks are assessed via close adherence to statutory regulations re Fire Risk Assessment, Health and Safety legislation, working at heights directives, food hygiene, electrical safety, heating maintenance. Annual insurance covers all risks to the trust's property, staff, volunteers, freelance staff, plus public liability for clients.

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Report of the Trustees for the Year Ended 31 March 2024

The Northam Care Trust

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of The Northam Care Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 27 November 2024 and signed on the board's behalf by:

Mr R S Stoneman - Trustee

Page 12

Report of the Independent Auditors to the Trustees of The Northam Care Trust

Opinion

We have audited the financial statements of The Northam Care Trust (the 'charitable company') for the year ended 31 March 2024 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 Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the 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 otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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Report of the Independent Auditors to the Trustees of The Northam Care Trust

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements 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 company'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.

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Report of the Independent Auditors to the Trustees of The Northam Care Trust

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. In common with all audits under UK ISAs we are also required to perform specific procedures to respond to the threat of management override. This work included testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to these laws and regulations, including fraud.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Health and Safety Act, UK Companies Act and UK tax legislation.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

We did not identify any key audit matters relating to irregularities, including fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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Report of the Independent Auditors to the Trustees of The Northam Care Trust

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of Sumer Auditco Ltd Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 69 High Street Bideford Devon EX39 2AT

Date: 17 December 2024

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The Northam Care Trust

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024

Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
5
Residential
Community projects
Domiciliary care
Supported living
Investment income
4
Other income
6
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Residential
Community projects
Domiciliary care
Supported living
Total
NET
INCOME/(EXPENDITURE)
Transfers between funds
21
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
15
As restated
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
fund

£
29,110
2,908,962
716,734
34,990
2,506,602
6,751
-
6,203,149
8,212
2,963,828
731,214
105,990
2,326,404
6,135,648
67,501
(47,456)
20,045
373,022
(58,065)
314,957
**335,002 **		 Designated
£
-
-
-
-
-
-
-
-
-
1,754
1,390
-
5,262
8,406
(8,406)
42,348
33,942
1,323,965
-
1,323,965
**1,357,907 **		 Restricted
funds
£
63,950
-
-
-
-
-
-
63,950
-
22,188
159
-
602
22,949
41,001
5,108
46,109
63,702
-
63,702
109,811		 2024
Total
funds
£
93,060
2,908,962
716,734
34,990
2,506,602
6,751
-
6,267,099
8,212
2,987,770
732,763
105,990
2,332,268
6,167,003
100,096
-
100,096
1,760,689
(58,065)
1,702,624
1,802,720		 2023
Total
funds
as restated
£
78,322
2,640,813
577,108
146,767
2,703,751
1,494
11,679
6,159,934
2,391
2,622,996
579,310
153,158
2,875,490
6,233,345
(73,411)
-
(73,411)
1,776,035
-
1,776,035
1,702,624

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 17

The Northam Care Trust (Registered number: 04010653)

Balance Sheet 31 March 2024

Notes
FIXED ASSETS
Tangible assets
17
CURRENT ASSETS
Stocks
18
Debtors
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one
year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds:
General fund
Fixed assets
Capital work and major repairs
Closure contingency
Voids reserve
New service development
Restricted funds
TOTAL FUNDS		 Unrestricted
fund

£
-
3,900
546,538
62,720
613,158
(278,156)
335,002
335,002
**335,002 **		 Designated
£
909,907
-
-
448,000
448,000
-
448,000
1,357,907
**1,357,907 **		 Restricted
funds
£
92,187
-
-
17,624
17,624
-
17,624
109,811
109,811		 2024
Total
funds
£
1,002,094
3,900
546,538
528,344
1,078,782
(278,156)
800,626
1,802,720
1,802,720
335,002
909,907
200,000
-
208,000
40,000
1,692,909
109,811
1,802,720		 2023
Total
funds
as restated
£
909,603
1,220
553,778
478,351
1,033,349
(240,328)
793,021
1,702,624
1,702,624
314,957
535,062
200,000
340,903
208,000
40,000
1,638,922
63,702
1,702,624

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The notes form part of these financial statements

Page 18

The Northam Care Trust (Registered number: 04010653)

Balance Sheet - continued 31 March 2024

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 27 November 2024 and were signed on its behalf by:

Mr R S Stoneman - Trustee

Mr P R Mole – Trustee

The notes form part of these financial statements

Page 19

The Northam Care Trust

Cash Flow Statement for the Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
24
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
a
£
196,330
196,330
(157,088)
4,000
6,751
(146,337)
49,993
478,351
528,344		 2023
s restated
£
107,794
107,794
(34,789)
-
1,494
(33,295)
74,499
403,852
478,351

The notes form part of these financial statements

Page 20

The Northam Care Trust

Notes to the Financial Statements for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Northam Care Trust is a private company registered with the Charity Commission, limited by guarantee, registered in England and Wales. The charitable company's registered company number, registered charity number and registered office address can be found on page 1.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimated useful lives

In determining the estimated useful life the company considers the expected usage (capacity or physical output) of the asset, expected physical wear and tear of the asset and expected technical advancements in the industry that could lead to obsolescence of the asset. Each year the company reviews the above to establish if there is any change is expected useful life of tangible assets.

Provision for doubtful debts

Where estimated amounts receivable is less than the value of the debt included in the accounts, a provision for doubtful debts will be recorded.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants in respect of capital expenditure are treated as deferred income and are credited to the income and expenditure account over the estimated useful life of the assets to which they relate.

Grants of a revenue nature are credited to the income and expenditure account in the same period as the related expenditure.

Page 21

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Allocation and apportionment of costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating staff costs by the time spent and other costs by their usage.

The apportionment has been based on care hours provided by staff.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% straight line and nil on land
Fixtures and fittings - 20% straight line
Motor vehicles - 20% straight line
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

The trustees have chosen to only capitalise fixed assets where their cost exceeds £5,000.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 22

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income and expenditure account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Going concern

Having regard to the charity's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the trustees consider that it is appropriate to prepare the financial statements on the going concern basis.

3. DONATIONS AND LEGACIES

Donations and gifts
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Residential fees
Residential
Community projects
Community projects
Domiciliary care
Domiciliary care
Supported living
Supported living
6.
OTHER INCOME
Other income		 2024
£
93,060
2024
£
6,751
2024
£
2,908,962
716,734
34,990
2,506,602
6,167,288
2024
£
-		 2023
as restated
£
78,322
2023
as restated
£
1,494
2023
as restated
£
2,640,813
577,108
146,767
2,703,751
6,068,439
2023
as restated
£
11,679
as

Included in other income are government grants totalling £nil (2023 - £11,679).

Page 23

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

7. RAISING FUNDS

Activities for raising funds

2024 2023
as restated
£ £
Other fundraising costs 8,212 2,391

8. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Residential
Community projects
Domiciliary care
Supported living		 Direct
Costs
£
2,033,513
485,334
105,345
1,978,086
4,602,278		 Support
costs (see
note 9)
£
954,257
247,429
645
354,182
1,556,513		 Totals
£
2,987,770
732,763
105,990
2,332,268
**6,158,791 **

Support costs have been apportioned across the charity's activities and projects based on care hours provided by staff.

9. SUPPORT COSTS

SUPPORT COSTS
Residential
Community projects
Domiciliary care
Supported living		 Head of
care
£
105,929
3,146
-
11,911
120,986		 Other
£
842,047
242,750
645
336,464
1,421,906		 Governance
costs
£
6,281
1,533
-
5,807
13,621		 Totals
£
954,257
247,429
645
**354,182 **
1,556,513

Support costs have been apportioned across the charity's activities and projects based on care hours provided by staff.

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
Deficit on disposal of fixed assets		 2024
as
£
59,620
977		 2023
restated
£
57,627
-

Page 24

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. AUDITORS' REMUNERATION

AUDITORS' REMUNERATION
2024 2023
as restated
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 7,560 7,200

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

13. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
4,958,944
354,994
83,083
5,397,021		 2023
as restated
£
4,410,795
316,833
72,753
4,800,381

The average monthly number of employees during the year was as follows:

2024 2023
as restated
Charitable activities 258 246

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£60,001 - £70,000
£70,001 - £80,000		 2024
as
-
1
1		 2023
restated
2
-
2

Wages and salaries relating to support staff have been apportioned across the charity's activities and projects based on care hours provided by staff.

Page 25

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Designated
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
11,600
-
Charitable activities
Residential
2,640,813
-
Community projects
577,108
-
Domiciliary care
146,767
-
Supported living
2,698,321
-
Investment income
1,494
-
Other income
11,679
-
Total
6,087,782
-
EXPENDITURE ON
Raising funds
2,391
-
Charitable activities
Residential
2,597,688
16,415
Community projects
573,920
3,543
Domiciliary care
152,773
253
Supported living
2,800,613
38,542
Total
6,127,385
58,753
NET INCOME/(EXPENDITURE)
(39,603)
(58,753)
Transfers between funds
111,254
(112,998)
Net movement in funds
71,651
(171,751)
RECONCILIATION OF FUNDS
Total funds brought forward
243,306
1,495,716
TOTAL FUNDS CARRIED FORWARD
314,957
1,323,965
Restricted
funds
£
66,722
-
-
-
5,430
-
-
72,152
-
8,893
1,847
132
36,335
47,207
24,945
1,744
26,689
37,013
63,702		 Total
funds
as restated
£
78,322
2,640,813
577,108
146,767
2,703,751
1,494
11,679
6,159,934
2,391
2,622,996
579,310
153,158
2,875,490
6,233,345
(73,411)
-
(73,411)
1,776,035
1,702,624

Page 26

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

15. PRIOR YEAR ADJUSTMENT

The prior year figures have been restated to reflect payroll liabilities of £58,065 which were omitted from the 31 March 2023 balance sheet.

The effect of this has been to increase creditors by £58,065 and to decrease the unrestricted general fund by the same amount.

The reported loss in the year ended 31 March 2023 has increased by £13,353 with the remaining balance relating to earlier periods.

16. KEY MANAGEMENT REMUNERATION

The total compensation payable for the year to those individuals whom the trustees consider to be key management personnel was £533,370 (2023 - £600,914).

17. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Freehold
property
£
1,100,909
97,399
-
1,198,308
273,817
21,143
-
294,960
903,348
827,092		 Fixtures
and
fittings
£
280,174
31,189
-
311,363
239,082
21,644
-
260,726
50,637
41,092		 Motor
vehicles
£
131,041
28,500
(8,295)
151,246
89,622
16,833
(3,318)
103,137
48,109
41,419		 Computer
equipment
£
28,482
-
-
28,482
28,482
-
-
28,482
-
-		 Totals
£
1,540,606
157,088
(8,295)
1,689,399
631,003
59,620
(3,318)
687,305
1,002,094
909,603

Included in cost or valuation of land and buildings is freehold land of £180,000 (2023 - £180,000) which is not depreciated.

Page 27

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

18.
STOCKS
Stocks
19.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2024
a
£
3,900
2024
a
£
351,867
16,536
178,135
546,538
2024
a
£
52,933
77,153
127,477
20,593
278,156		 2023
s restated
£
1,220
2023
s restated
£
365,157
23,078
165,543
553,778
2023
s restated
£
73,857
-
130,842
35,629
240,328

Page 28

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

21. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Fixed assets
Capital work and major
repairs
Closure contingency
Voids reserve
New service development
Restricted funds
Minibuses
Clients hardship
Carers Project
Appledore Kiosk
Communication
Sensory tables
Northam Lodge lift
David's Pub
Rose Hill Sensory Room
Cosmo Switches
Accessible gym & racquet
sports membership
scheme
New training centre
Reconnecting isolated
older people
New Bus Rose Hill
Jacuzzi Bath NL
TOTAL FUNDS		 At 1.4.23
£
373,022
535,062
200,000
340,903
208,000
40,000
1,696,987
23,035
783
4,575
1,500
17
2,577
3,355
3,926
12,172
422
1,004
7,906
2,430
-
-
63,702
1,760,689		 Prior
year
adjustment
£
(58,065)
-
-
-
-
-
(58,065)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**(58,065) **		 Net
movement
in funds
£
67,501
-
(8,406)
-
-
-
59,095
(5,759)
-
-
-
-
(859)
(1,118)
(1,309)
11,588
-
(1,635)
6,702
6,690
22,800
3,901
41,001
100,096		 Transfers
between
funds
£
(47,456)
374,845
8,406
(340,903)
-
-
(5,108)
-
-
-
-
(17)
-
-
-
-
-
631
-
-
-
4,494
5,108
-		 At
31.3.24
£
335,002
909,907
200,000
-
208,000
40,000
1,692,909
17,276
783
4,575
1,500
-
1,718
2,237
2,617
23,760
422
-
14,608
9,120
22,800
8,395
109,811
1,802,720

Page 29

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Capital work and major repairs
Restricted funds
Minibuses
Sensory tables
Northam Lodge lift
David's Pub
Rose Hill Sensory Room
Accessible gym & racquet sports
membership scheme
New training centre
Reconnecting isolated older people
New Bus Rose Hill
Jacuzzi Bath NL
TOTAL FUNDS		 Incoming
resources
£
6,203,149
-
6,203,149
-
-
-
-
13,000
-
7,000
9,450
28,500
6,000
63,950
6,267,099		 Resources
expended
£
(6,135,648)
(8,406)
(6,144,054)
(5,759)
(859)
(1,118)
(1,309)
(1,412)
(1,635)
(298)
(2,760)
(5,700)
(2,099)
(22,949)
**(6,167,003) **		 Movement
in funds
£
67,501
(8,406)
59,095
(5,759)
(859)
(1,118)
(1,309)
11,588
(1,635)
6,702
6,690
22,800
3,901
41,001
100,096

Page 30

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Fixed assets
Capital work and major repairs
Closure contingency
Voids reserve
New service development
Business continuity
Restricted funds
Kitchen Refurbishment
Minibuses
Clients hardship
Awards for All Rosebuds project
Carers Project
Appledore Kiosk
Sensory garden
Communication
Gardening for the disabled
Pony Paddock
Sensory tables
Northam Lodge lift
David's Pub
Rose Hill Sensory Room
Cosmo Switches
Accessible gym & racquet sports
membership scheme
New training centre
Reconnecting isolated older people
TOTAL FUNDS		 At 1.4.22
£
243,306
578,394
322,999
340,903
208,000
40,000
5,420
1,739,022
8,905
-
783
962
4,575
1,500
-
-
171
6,973
3,436
4,473
5,235
-
-
-
-
-
37,013
1,776,035		 Net
movement
in funds
£
(39,603)
-
(58,753)
-
-
-
-
(98,356)
(8,905)
23,035
-
(962)
-
-
(1,744)
17
(171)
-
(859)
(1,118)
(1,309)
5,199
422
1,004
7,906
2,430
24,945
(73,411)		 Transfers
between
funds
£
111,254
(43,332)
(64,246)
-
-
-
(5,420)
(1,744)
-
-
-
-
-
-
1,744
-
-
(6,973)
-
-
-
6,973
-
-
-
-
1,744
-		 At
31.3.23
£
314,957
535,062
200,000
340,903
208,000
40,000
-
1,638,922
-
23,035
783
-
4,575
1,500
-
17
-
-
2,577
3,355
3,926
12,172
422
1,004
7,906
2,430
63,702
1,702,624

Page 31

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

21. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Capital work and major repairs
Restricted funds
Kitchen Refurbishment
Minibuses
Awards for All Rosebuds project
Sensory garden
Communication
Gardening for the disabled
Sensory tables
Northam Lodge lift
David's Pub
Rose Hill Sensory Room
Cosmo Switches
Accessible gym & racquet sports
membership scheme
New training centre
Reconnecting isolated older people
David Gibbons Trust
Rosehill Bathroom
TOTAL FUNDS		 Incoming
resources
£
6,087,782
-
6,087,782
500
28,794
-
-
376
-
-
-
-
5,199
2,432
8,000
7,921
13,500
430
5,000
72,152
6,159,934		 Resources
expended
£
(6,127,385)
(58,753)
(6,186,138)
(9,405)
(5,759)
(962)
(1,744)
(359)
(171)
(859)
(1,118)
(1,309)
-
(2,010)
(6,996)
(15)
(11,070)
(430)
(5,000)
(47,207)
(6,233,345)		 Movement
in funds
£
(39,603)
(58,753)
(98,356)
(8,905)
23,035
(962)
(1,744)
17
(171)
(859)
(1,118)
(1,309)
5,199
422
1,004
7,906
2,430
-
-
24,945
(73,411)

Purpose of material funds

General funds are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and which the charity may use for its purpose at its discretion.

The fixed assets fund has been designated to cover the net book value of tangible fixed assets to reflect the fact that these are not readily realisable.

The capital work and major repairs fund has been designated to provide a ready source of funds for repair or acquisition of buildings, leaseholds, furniture, fixtures, and equipment necessary for the effective operation of the organisation and programs.

The voids reserve fund has been designated to subsidise residential services if there are void rooms (attracting no fees) in order to maintain the same high quality of care for the remaining clients.

The new service development fund has been designated to ensure resources are available to support the development of a new service without impacting regular operations or budgetary constraints.

Page 32

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

21. MOVEMENT IN FUNDS - continued

In the opinion of the Trustees, sufficient funds are held in an appropriate form to enable each fund to be applied in accordance with the relevant restrictions.

Transfers between funds

Transfers have between made between designated funds and the unrestricted general fund to bring the closing balances on these funds to the amounts which the trustees consider appropriate to meet the financial requirements of the relevant fund.

A transfer of £631 has been made from the unrestricted general fund to the Accessible gym & racquet sports membership scheme fund to cover the excess spent on that fund.

A transfer of £4,494 has been made from the unrestricted general fund to the Jacuzzi Bath NL fund to cover the excess spent on fixed assets held within that fund.

A transfer of unspent funds of £17 has been made from the Communication fund to the unrestricted general fund as agreed with the relevant funders.

22. CONTINGENT LIABILITIES

The charity has entered into service level contracts with housing providers in the course of their supported living programme. These provide that in the event of rental voids, the charity is required to pay the housing provider the gross rents for empty units plus some additional costs such as service charges and council tax.

At 31st March the charity had service level agreements covering 44 rented units and an average occupancy rate for the year ended 31st March of 86%.

It is not practicable to make a reliable estimate of the financial effect, or the timing of any possible liability arising, due to the uncertainty of when voids are likely to occur and the length of time any individual unit will be vacant.

The trustees are actively working to ensure that voids are minimised as far as possible.

23. RELATED PARTY DISCLOSURES

There were no disclosable related party transactions for the year ended 31 March 2024 other than the key management remuneration disclosed above.

Page 33

The Northam Care Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

24. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest received
Increase in stocks
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2024
a
£
100,096
59,620
977
(6,751)
(2,680)
7,240
37,828
196,330		 2023
s restated
£
(73,411)
57,627
-
(1,494)
(1,220)
155,577
(29,285)
107,794

25. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand **478,351 ** 49,993 528,344
**478,351 ** 49,993 528,344
Total **478,351 ** 49,993 528,344

26. CHARITY STATUS

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the Members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

Page 34

The Northam Care Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifts
Investment income
Deposit account interest
Charitable activities
Residential fees
Community projects
Domiciliary care
Supported living
Other income
Other income
Total incoming resources
EXPENDITURE
Activities for raising funds
Other fundraising costs
Charitable activities
Wages
Social security
Pensions
Agency staffing costs
Travelling
Other direct charitable costs
Bad debts
Support costs
Head of care
Wages
Social security
Pensions
Other head of care costs		 2024
£
93,060
6,751
2,908,962
716,734
34,990
2,506,602
6,167,288
-
6,267,099
8,212
4,211,798
298,151
72,627
16,237
-
12,344
(8,879)
4,602,278
80,931
10,123
1,992
27,940
120,986		 2023
as restated
£
78,322
1,494
2,640,813
577,108
146,767
2,703,751
6,068,439
11,679
6,159,934
2,391
3,538,842
241,214
57,918
476,061
21,189
29,673
37,373
4,402,270
106,297
10,440
2,064
31,299
150,100

This page does not form part of the statutory financial statements

Page 35

The Northam Care Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2024


Other
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Advertising, postage and stationery
Repairs and maintenance
Agency staffing costs
Motor, travel and subsistence
Training costs
Food recreation and activities
Housekeeping
Rent
Admin expenses
Sundry expenses
Void charges
Depreciation of freehold property
Depreciation of fixtures and fittings
Depreciation of motor vehicles
Loss on sale of tangible fixed assets
Governance costs
Auditors' remuneration
Other governance costs
Accountancy fees
Total resources expended
Net income/(expenditure)		 2024
£
666,215
46,720
8,464
22,346
32,713
80,588
22,862
45,539
88,020
-
67,101
12,540
130,877
45,167
16,182
68,689
7,286
-
21,143
21,644
16,833
977
1,421,906
7,560
1,021
5,040
13,621
6,167,003
100,096		 2023
as restated
£
765,656
65,179
12,771
20,025
30,805
58,199
17,814
56,289
162,426
7,650
60,802
56,953
115,968
37,620
19,979
42,502
9,808
67,433
18,421
21,316
17,890
-
1,665,506
7,200
1,078
4,800
13,078
6,233,345
(73,411)

This page does not form part of the statutory financial statements

Page 36