REGISTERED COMPANY NUMBER: 04010653 (England and Wales) REGISTERED CHARITY NUMBER: 1081784 The Northam Care Trust (A Company LimRted by Guarantee) Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 Sumer Auditco Ltd Statutory Auditors 69 High Street Bideford Devon EX39 2AT
The Northam Care Trust Contents of the Finaneial Statements for the Year Ended 31 March 2025 Page Referenee and Admlnlstratlve Del&il$ Report of the Trust¢¢8 2 to 12 Report of Ihe Independenl Auditors 13 to 16 Statement of Flnancial Activiti 17 Balance Sheet 18 to 19 Cash Flow Statement 20 Notes to the Financial Statements 21 to 34
The Northam Care Trnst Reference and Administrative Details fur the Year Ended 31 March 2025 TRUSTEES Mr R S Stoneman Chair Mr P R Mole Vice chair Mr V Bowen (appointed 3.9.25) Mr T J Corkery MrRWMDoTh Mr C D Fulford Mrs J L Walter Ms J H Whittaker Ms C A Tudor (resigned 30.10.24) COMPANY SECRETARY M5 K V Kerley REGISTERED OFFICE Rose Hill Heywood Road Bideford Devon EX39 3PG REGISTERED COMPANY NUMBER 04010653 (England and Wales) REGISTERED CHARITY NUMBER 1081784 INDEPEIYDENT AUDITORS Sumer Auditro Ltd Statutory Auditors 69 High Street Bid¢ford Devon EX39 2AT CHIEF EXECUTIVE OFFICER Ms J Howell Page I
The Northam Care Trust Report of the Trustees for the Year Ended 31 March 2025 7h?Worthom cara Titsit The Northam Care Trust REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31st MARCH 2025 Page 2
The Northam Care Trust Report of the Trustees for the Year Knded 31 March 2025 Rb'PORT Iir TF113 TRU4'I'LLS POR TI IF. YFAR ENDING 3 IMMARCI r 202$ <)tsIEc,I i!bS AND AIMS . (iI,jR iilSFt)pJ ', ()I.JK MI8SI()N-~ .' JLIR CQRf... i..'.11.Li bs . 131 IC BThFFIJ'..: .' S.TrA Tf(ilC REI)ORT.. AICI.ITLli [.%..Ts AN'D PE.RF"C>"RfvI..IIK.CE FLThI)RIXISING.4C I IIIITIES -- RESERi'ES KISK ¥1.4fvACIF.I.IEN I - riN.Itsc'i,IL ..IND RISKJlrfl4N_IL.LIKILN r c)B.IECI II'LS . FVTLIRE )I.¥jS . T OF TRL3 I"E LS- RlrSPOX%IBILITIES .P3gé- oflO-
The Northam Care Trust ~ Report of the Trustees for the Year Ended 31 March 2025 The TTUStees, who are a150 Directors foT the purposes of company law, are pleased to present their Annual Director5, Report together with tbe fmancial statements of the Cl]aTity for th¢ year ended 31 March 2025 These statsments are prepared to meet the requirements of both a directors, report and accounts under the Companies Act. The flllancigdl statejnents comply with the Charities A¢t 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities., Statement of Recommended Prathice applicable to clwities preparlng their accounts in accordance with the Financial Rq)orting Standard applicable in th¢ UK and Republic of Ireland {FRS102) (effective 18( January 2019). OB,JEC'I'IN'E,S AND AI.MS Our Vision, Mission & Values are at the hcart of evcrything we do and guide Th¢ Northam Care Trust towards inaking a ds1'ferc'iiLL* in the learning and physical disability spare 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 driviDg the changes for those with a learning or physical disability. Wh¢thei this is througb being more inclusive in our employment strategies for those with a disability or by empowering individuals to being more involved with the conununty, we're guided to mak¢ iii)sltive ',% for those with a disability. ()IJR Vl.<il(.)N OUR VISION is to lead the way in creating a community where people with disabilities can live life without limits. OIJR MI%,%IO OUR MISSION is to empower people with disabilities to live their best lives. OIJR C,ORE 11.4LIIFS We promote and work to our core values and behavlours to ensure the best quality of care and support 15 being delivered to everyone who uses our servicLs, Page 4
The Northam Care Trust - Report of the Trustees for the Year Ended 31 Mareh 2025 THE NORTHAM CARE TRUST OUR CORE VALUES W• promotand to0urcorgvats0md b•haviourt to•nwr$ tho b•¥t4u411ty B£CAU$E WE Vi,ft1>1444Tr1 '.PDd,rtDhuatrtt.Plpfft'. 1fv9ryti',,, ,,,, thr4JU9hiniitothp'_ -_4hiW¥W I¥[b:... . iaksMth RtqLVph..," ,-kkc•llg t.Ql•GIkiTr',IrtPYdbl We actively promote these values in our daily working pra¢ti¢es. Staff are encouraged to nominate their peers for a Cherry on Top award - a recognition initiative aligned with our logo - when they demonstrate outstanding examples of living our values in action. More inforniation on th¢ activities of the Charity can be viewed on our website htt . ..Ilw'wiv.nortbamc¢JretrLlSt.L'o.uk.l. PIIIIl,IC.' Bri NFFIIT Th¢ trustees ¢onfJrni that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefrt guidanc¢ published by the Charity Commissioll for England and Wal¢s. The charity's delivers public througb a rJn8e of programmes and servic¢s, as outlined in th¢ Objectives, Aims and Achievements sections of this report. These activities are made possible through the generous support of our donors and fvndcrs. All fancIal surpluses are into enhancinL, the quality of our services and improving accommodation for the individuals we support, ensuring that our charitable purpose Lontinues to bc fulfill¢d in a sustainable and iJnpactful way. STRATF("IC.' RF,PORT AC,HIEVLMENTS .4ND PERTr'ORMANCE Since our last audited accounts, w¢ have not had a CQC Inspectio In Febnwy 2018, our residential lodges underwent a CQC Comprehensiv¢ Unannounced Jnspection and were rated "Good" in all categoTi¢S. Similarly, our supported living services were inspected by the CQC in June 2021, TeceiviThg a "Good" rating across all areas. Page 5
The Northam Care Trust Report of the Trustees for the Year Ended 31 March 2025 We keep abreast of changes in the way w¢ may be inspected by our regulators by being part of national organisations and forums 8uch as VODG (Voluntary Organisation Disability Group) and Care England. This has enabled us to Teview and include fiffther key policies, trainingg and audits to remain at the top of our game. As part of this effort, we regularly conduct surveys with families, prof¢ssionals, and staff to gather feedback and identify areas for ftutber enhancement. We have aligned each services, service improvement plan with the qualty statelnents CQC use to assess and rale us. This h¢lps us to understand where our gaps are and wh¢T¢ we are exceeding the quality outcomes for pe(wle. We have continued alld enlthnced our cross-audit system. Managers audit key aspects of eaGh oth¢r services. This helps with having independent eyes on services, sharing best practice and learning from each other's accident and in¢id¢nts. We identified through this audit process that further training was needed to ¢nsuTe all 8taff in a supervisory role had training in understanding the support and SupeiS1on process, Training sessiolls were run by selliir managers to enable senior staff to eJ]hance their skills in effective support and ¥upcrvision discussions and records. Thits has meant our record8 in how we support stsff have improved alld staff feedback shows that they feel more valued having effective support and supervision. We bav¢ looked at ways we can acknowledge staff excellence and have nominated key stsff for ng4tional awards. We are proud of the fact we won Care Provider of the year in the Leaders In Care Awards which are national awards independently judged. This has led to us being renowned for our good practice and OUT CEO being asked to judge nutional awards. We were also bigbly commended for carer in housing with care awards. and ill th¢ fal5 of social care lead¢rs awards. We also won being best community parlner tor another charity ARC. As part of our EDI board we held a cultural food festival for staff and people we support which had been very well received, We also ran workshops on neuTodiversity and still hold our Disability confident award. We introduced OUT Safeguarding Pledge ensuring all staff and volunteers including trustees sign up to this. The pledge outlines our key priorities in keeping people saf¢. We also cotitinue to provide quarterly safeguatding reports to look at any patterns and trendg. Page 6
The Northaln Care Trust -Report of the Trustees for the YeAr Ended 31 March 2025 Our training offer has gone from strength to strength with an overall average of compliallc¢ in all aspects of traiiiing going up to over 85 %. Some key senior staff also completed a course with Gloriously Ordinary Lives which challenge the language we use in cart. This has prompted us to review our care planning and daily records to ensure we are always respect1 and put the person we support at the heart of all we do. Plus, off the back of feedback from our staff surveys in 2023 & 2024, we have introduced new training courses. Allowing our stsff to develop a d¢¢per understanding of sp¢cifi¢ needs those we support may have and dit¢ct]y improving the care we give. Alongside this, we have introduced evening and early morning face to face to raining sessions wbich have proved more convenient for night staff. Some uf the courses we have introduced this y¢aT include: First Aid at Work Fire Warden - Preparation to Deliver Fire Awareness Train the trE4iner PBSISafeholds - Train the Trainer Musculoskeletal disorder. Additional mcntal health fOUTses such as stress TesiliL'nce and suicide awareness. Connect 5. Delivered online and F2Tr from Pete's Dragons. L2 Understandin8 Mental Health Fitst Aid Oral Health improvement delivered by the OHESDS team. First Aid at Work in Ilouse qualification (one of our trainings took a trainer5 training course to be able deliver this to our staff. We have hosted the speech and language team in our Training Hub to d¢liv¢r a number of courses to our staff which have included training on., eating, drinking, swallowing• communication, and signing. Makaton cours¢s Further E-leaming courses on specialist subjLCts. We introduced electronic care planning to our supported living services. This has enabled us to review ¢ar¢ and 5UPPOrt quirker and ensure recording is robust and mealliThgful. Our day opportunities alld conllnunity services, delivered through Rose Hill Comrnunity Projects and Outreacb Services, have continued to grow. There are more sessions using the local ci)nununity and enhallcing peoples skills. We continue 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 peoplc from Pathfields and Lampard Schools renwins a cornerstone of our efforts, helping the move srnoothly into adult seryices through quality day opportunities. Our lodgye% have seen some environmental changes with bathrooLnS being upgraded as well as new flooring and some refurbishmLnts in tern of painting and decoiating. We contillu¢ to invest in our staff, focusing on both pay and working condilions, wittl a particular empbasis on well-being. Our Well-being lead produces monthly newsletter, providing valuable infotmation and resources to support staff, Our Employee Assistance Program, offering support to all employees, is well reIVed and well ulltitled. Our second Impact Report was produced giving everyone insight into our strellgths and areas for improvement. We produ¢e a bimonthly truyt wlde newsletter which promote5 the work we do, our events and keep5 ¢v¢ryone in the loop about what we have acbicved over the previou5 two months. This has been a resounding success with our staff and families. The improvements to our website and social media presence continue to evolve. We are proud to have again achieved accreditation from the Contractors Health & Safety Assessment sChee {CHAS) and to continue being recogThised ag Disability Confident employer5. The Disability Confident heme supports employers in recruiting and retainin8 talented individuals. Each branch of the trust holds regular team mLetings, giving all employees the chance to voice their opinions on the day-to-day running of their team and the organisation. WhLre possible, senior managers attend theso 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 illLpiov¢ment. We also conduct an annual staff survey, followed by a "You Said, We Did action plan once the results are collated. Key updates are cornmunicated to staff via ell11 and call also be shared through SAGE HR. The results of th¢ annual staff survey are shared with lrnstees to help them understsnd staff morale and key issues they wish to see addressed, Together with the executive team, the trustees shape the company's diT¢Ction and future business goals, considering the survey and pulse check feedback. In our ca8e, directors who s¢rv¢ as Inlstees review quarterly reports from 811 department head5, with each invited to attend a board meeting at l¢a5t once a year. The trustees meet with the CEO and Finance Director for board ni¢etings at least 10 times a year. The chairpcrson also meet5 with the CEO six additional times annually to discuss trust compliance and any arising issues. Trustees visit all service5 at least once a year, engaging witb staff and the people we support to listen to theiT feedback. Page 7
The Northam Care Trust - Report of the Trustees for the Year Ended 31 March 2025 C.:1 IAI,I.,L-,, The fmal quarter of this fjllancial year proved diificult for us as a lrnst having to flnd additional mollies for increases in employer contributions to NI and increase in NLW. This meant we had to streamline some of OUT central support and reduce hours or cut jobs where we could outsource their Work. We made three tedundanci¢s - HR manager, well-being manag¢r and assistant to the registered nlager posts. In place of these we have commis510lled Citation a national HR advisory service to oversee and 5UPPOrt us with HR processes and employment law. Wellbeing Tole has been disseminated to other managers and the role of 5SiStant to registered manager post as mostly admin and this has been d¢legated to remaining staff. This has in no way compromised our quality of care or how we operate. It has meant we have reduced our central overheads to IOO/ts. We were also success1 in gaining an essential fee uplift in our supported living services and have reduced the need for agency use through better planning and time managemgnt of sickness. We bad four deaths within our residential lodges so sustained some fee voids. We worked hard to fill these beds in record time which meant our annual budg¢l did not suffer too much, This is also testament to how much we are valued by our conllDissionin8 teams. Jy. ,ili:I,,,:., *1. FIINDRAISINC, AC'fiviTIE This year Saw fundraisin& generating £89,622. Funds supported our hydrotherapy pool project which is an ongoing pioject and will be llY fundTaised for we now have planning p¢rniission for this and intend to increase our fundraising efforts, for thi5 much needed resource. Hydrotherapy is clinically proven to improve mobility by maintaining and strengthening muscle tone. We see tbis as an essential part of people's w¢llbeing which is why we have been concentrating our fundraising efforts to build one for the people we support and for the benefit of the local conllnunity. 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 stsndards. The charity has diligently monitored all fundraising activities and is pleased to report that no complaints were received regarding these efforts. FINANC,IAL REVIEW GOINC. CC)YI C:ERN The statement of fllwIGial activities for the year reports a net surplus of £153,986, including a surplus of £155,910 from unrestricted funds (g¢neral charitable activities) and a deficit of £1,924 from restricted fimds. Despitc challenges, the trustees confirm that the charity remains a going concem, with sufficient re50urres to fund its ongoing activities. We are exploring new service development ana reviewing f¢¢ structures with local authorities. Donations support additional activities and equipment. Resident personal accounts are maintained sepaTalely with Barclays Bank pl¢, independent of the cbarity's own assets. Page 8
The ]Yortham Care Trust Report of the Trustees for the Year Ended 31 March 2025 The charity's reserves policy ensures that we have sufficient fimds to meet our commitments and continue d¢liv¢ring our services, safcguardillg against any sigiiificant disruption to our charitsbl¢ activities. The trust¢es have adopted a fonnal reserves policy to maintain a Min1uM of 3 rnonths, operating costs and emergency fidin with the aspiration to hold 6 months, reserves where this does not impact in]mediate funding needs. Opernting costs have been calculated to include wages and core Nnning expenses (e.g., heating, lighting, and insurallce). Emergency funding requirements are based on the de]nands faced during the COVID-19 pandemic and the uptake of new services, including void costs. Based on these calculations, 3 months, operating costs and eMergell funding amount to £1,600,000 and 6 OnthS, reserves to £3,200,000. The charity's reserves policy is VieWed annually. Total funds held: £1,956,706. Restricted funds held., £107,887. Amount of fimds tied to tangible red assets.. £967,073. Amount of unrestricted fimds not tied to fLxed assets as of 31 March 2025.. £967,754, The fed assets fiwd has been designated to cover the net book value of tangible red assets to reflect the fact that tbese are not readily reallsable. 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, fLxttwes, and equipment necessary for the effective operation of th¢ organisation and prograrns. The voids reserve fund has been designated to subsidise residential services if there are void rooms (attracting no fee5) in order to mailltain the same hi&h quality of care for the remaining clients. The new s¢rvice development fund has been desiated to ensure resources are available to SUPPOrt the development of a new service without impacting regular operutions or bud&yetary constraitits .RI.SK MANAC'.EMLINT FINAN(.", IAI.. ANI) KISK mANA(;:m fi,NT ()13Jfi,C.I'lVI,; ' A fornial risk management process exists to assess business risks and involves identifying the types of risks the Ckwity faces, prioritislng them in tenns of pot¢ntial impact and likelihood of occurrence and identifying how best to mitigate the risks where possible. The Trustees have givell ¢onsideration to the major risks to which the charity is exposed satisfied themselves that systems or procedures are established in order to manage those risks. The most significant fmaThci&l risks facing the charity together with proposals for dealing with those risks are., Cost and income discrepancy: we face ongoing challenges related to i]Jsufficient fee levels and riqing wage costs due to national minimum wagc legislatio as well as th¢ n¢ed to recruit high quality staff. To addre55 this we will continue to conduct an annual review of client costs on a 11 recovery basis in collaboration with local authorities. Withdrawal OT loss of people we support including void costs., the potential loss of peopl¢ we support. particularly ill our supported living vIceS poses a risk. We have made budget Provision for unexpected vacancies and have set aside designated fullds to handle Ihese sAtuations. Unexpected building repairs.. Our older propertie5 including Northatn Lodge and Rose Hill may require unexpected substantial repairs, we regularly inspect OUT building5 to reduce any un ¢Kpected expenses however sometimes things just happen that are outside of anyone's control. In addition, our v¢hicles for transporting clients are getting increasingly costly we are exploring various different avenue5 of fundraising to ensure assets are repaired and repla¢ed as neKessary. Leveraging Charity staths for GraDt Funding: We are committed to maximizing our charity status in order to secure grant funding that can support new project5 aDd vehicle costs. Page 9
The Iyortham Care Trust rylliihllmcoro Report of the Trustees for the Year Ended 31 Mareh 2025 FL,'I"IJ.RE I?I,ANS W¢ 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: To contillue to sustain and improve oui ¢utr¢nt registered residential accommodation for 25 people with profound and multiple learning and physical disabilities and complex health needs in the three Lodges with the focus on eKcellen¢e through bespoke, personalised support in individualised environments. To ¢ontinue to work with social care and NHS cornn810llers and of Course with families. Excellent day servi¢e and community OPPOrtunitie5 and facilities for current and more diverse client groups, We will continue to look at expaoding our services into other parts of North Devon and adding value to our Ros¢ Hill support and independence training activities. We will pursue the developiiicDt of new services in local communities involvSng crcative, sporting, health and wellbeing, drama, music, danrK, horticulttlre, and catering projects and look to work in patthcrship wherever possible. This work is also important to families needing respit¢ across a seven-day week including evenings. Supported Living opportunities in local communitles for people with learning> physical alld other disabilities and inlluding mental health needs and working with houslng oigani8ations through their investment andlor housing association arms in supporting tenants and the rther development of an excellent and responsive service continuum. Supported Living Iw become a major feature of our work and incorne based on our involvemellt with commissioners in meeting new contracbjal Frameworks and in providing bigh quality care ajjd support for the tenants. We will continue to expand our work on carers and familles gupport alld consultation. We will also focus OD Employment and Training opportunities for people with l¢arnin8 disabllities. Continue to f]nancially invest in our growing stsff group ad in their training and skills development. To improve pay and conditions and other benefits within The Thisvs means and affordability. To fundTais¢ for a hydrotherapy pool. Through consultation with our staff teams, families and carers a hydrotherapy pool 15 a much-needed resource for the people we support and for our local community. We will only commit to this project if we can raise funds from grants and fundraising, we will not be using trust r¢gerves. We have a continuity plan for the running costs and upkeep of such a pool. 4i'fiii.i c'l, IJRTr.', r()Vli' IIN;.4NCI, ('()IYli IINIIy(.: I)()C,'IJMTr'N'I' ANI) MANA(."'b' m.;N,.1. The cbarity is controlled by its governitig document, a deed of trust, and constitutes a limited company, limited by guarantee, as defmed by the Companies Act 2006. Th¢ Northam Care Trust is a charity in the forni of a company limited by guarantee 0d is governed by its Memorandum and Articles of Association. Founded in 1978 as the Torridge Association for the Disabled Children alld subsequently renamed. it was incorporat¢d in June 2000 as Northam Lodge and renand as The Nortbam Care Tht on 4 May 2018. Rli ('RiJi'fMI4..NI' AN.1) AI)POIN'I'MIi iry'l. C)14 N.I,.',W 'l'RIJS'I'Tr' D; New Trustees are appointed in line with the Charity's Trustee RecNilment and Induction Policy and are provided with the inforniation they need to fulfil their roles. Page 10
The Northam Care Trust -'Report of the Trustees for the Year Ended 31 March 2025 () RC, ANI.SIC'.I'IC)N STRIJC;Tifiiii. Th¢ CIlty is governed by a Board of Trustees. All Thistees have been selected for their knowledg¢ of the care and health sectors andlor for their professional skills and experience in business. law, fmance, fundraising, healtm adtninistration and property enabling them to contribute to the Charity's development. Guinness Care and Support is entitled to appoint two Trustees to the B0d, although they have not chosen to do 50. New Trnstses are appointed in line with the Charlty's Trustee Recruitment alld Induction Policy and are provided with the infoTrnation they need to fulfil their roles. Our Trnstees all work to a Code of Conduct which underpins their cornmitmellt. The Chief Executive, Jo Howell is responsible for the day-to-day operations of the Charity and manages the orgaDi5ation and staff on behalf of the Truste¢s. Jo was appointed in May 2022. She is supported by Katy Kerley, Finance Director and by other members of the Senior Operational Management Team. DF.C,'ISIC)N MAKING The Trustees are responsible for decision making which takes place at regular Trustee meetings, Operational deci510ns are delegated to Executive ad Senior stsff members. INDIICI'ION AND TRAININC Ot4 NEI W TRUS"fEE&i New trustees undertake a detailed briefmg on th¢ir l¢gal obligations under charity and company law, the Charity Con)]nissio guidance on public benefit, tbe memorandum and ArtiLl¢s of Association, the decision-making processes via monthly trustee meetings, the business plan and minutes of previous trust¢¢ meetings plus all tabled documents, budgets, accounts and reports. KEI I. M.ANA(:F.MF.N'f REMUNERA"rii)N The pay of key management personnel is set by the Trustees. RISK M.ANAC.FMEN'J' The trustee5 have a duty to identify and review the risk5 to which the charity is exposed and to ensure appropriate controls are in place to provide r¢asonable assurance against fraud alld euoi. Significantfinancial riyk Monthly review of any significant fanCial risks via regular meetings with the Chief Executive Officer, Finance Director and othcr metnbers of staff. Polentialfinanciol and non-finanelal YISLY Regular close contsct with the Chief Executive Officer, Finance Director and other key management staff to assess potential fjnancial and noll-fuwicial risks in all parts of the operation. Reserves policy The reserves policy helps to mitigat¢ risk by setting aside funds to deal with unforeseen eventualities. Non-financial risks Non-fm8ncial risks ore assessed via close adherence to StatOry regulations re Fire Risk Assessment, Health and Safety legislation, working at heights directives, food hygiene, electrical safety, heating maintenance. Anllual insuranr¢ covers all risks to the trusvs property, staff, volunteers, freelance staff, plus public liability for ¢lient5. Page 11
The Northam Care Trust Report of the Trustees for the Year Ended 31 March 2025 'TFI"I'LMI,.:NT ()F TKIJS'I'LII S Rl.,'SI)ONSIBILI'fiii The trustees (who are a150 the directors of The Nortbam Care Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the fancial statements An accordance with applicable law and United Kingdom Accounting Standards (United Kmgdom Generally Accepted Accounting Practice). Company law requires th¢ trustees to prepare fmancial statements for each fAn2ncial year which give a tru¢ and fair view of the state of affairs of the charxtable company and of the incoming r¢soureeg al application of resources, including the income and expenditure, of the charitable company for that period. In preparing those fjnancial ststements, the trustees ate required to sel¢ct suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statemei)ts on lh¢ going concern basis unless it is inappropriate to presurne that the charitable company will continue in business. The trustees are responsible for keeping proper accountlng records which disclose with reasonable accuracy at any time the fanCial position of the charitable company and to enable them to ensure tbat the fll)ancial stst¢mcnts comply with the Companies Act 2006. They are also responsibl¢ for safeguarding the assets of the chitable wmp8ny and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Ill so far as the trusÈees are aware., there is no relevant audit inforniation of which the charitable company's auditsirs are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit intormation aiid to eslablish that the auditors are aware of that inforniation. The trustees are respollslble for the maintenan¢¢ and integrity of the corporate and fmancial inforniation included on the cbaritable Company's websits. Legislation in the United Kingdom governing the preparation and dissemination of fmancial statemellts. nydy difter from legislation in otheT juri5diGtions Report f the lnistees, incorporating a 5trategir r¢po¢ approved by order of the board of tmslees, as the company directors, on . and signed on the board's behalf by., Mr R S Stoneman - Trustee Page 12
Report of the Independent Auditors to the Trnstees of The Northam Care Trust Opinion We have audited th¢ fmancial statements of The Northam Care Trust (the 'ch&ritable company,) foi the year ended 31 March 2025 which coniprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Ststement and Dotes to the fmancial statements, including a summary of significant accounting policies. The fmancial reporting framework that has been applied ITh their preparation is applicable law attd UThited Kingdom Accountiog Standards (United Kingdom Generally Acceptsd Accounting Practice). In our opinion the fmancial statements.. give a true and fair view of the stste of th¢ charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resource5, includitig its income and expeiiditure, for the year then elided. have been properly prepared in accordance with United Kingdom Generdlly Accepted Accounting Practice. and have been prepared in accordance with the Tequirements of the Charities Act 2011. Ba515 for (Jpinlon We conductcd our audit in accordance with International Standards on Auditing (UK) (ISA8 (iJK)) and applicable law. Our respollsibilitics under those standards are fijrther described in the Auditors, responsibilities for the audit of the fancial statements section of our report. We are independent of the charitable company in accordance wrtb the ethical t¢quirements tbat are relevant to our audit of the fmaneial statements in the UK, including the FRC'S Etbical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe tILdt the audit evid¢nce we have obtsined is gufficient and appropriate to provide a basis for our opinion. Cvnclusions relting to golng eoncern In auditiug the fmancial statements, we have concluded that the trustee$, use of the going concern basis of accounting ill thL' prcparation of the fmancial statements is appropriate. Bascd on the work we have perfonned. we have not identified any material unccrtainties relating to events or conditions thdi, individually or collectively. may cast significant doubt on tbe charitabll company's ability to continue as a going conLern for a period of at least twelve months from when the fanCIal statements arc authorised for issue. Our responsibilities and the responsibilitles of the trustees with respect to going concern are described in the relevant sections of this report. Other informatlOD The trustees are responsiblL for the other inforn]ation. The other inforniation comprises the illforniation included in the Annual Report, oth¢r than the fmaa¢i81 statements and our Report of the Independent Auditorts thcT¢on. Our opinion on the fjnanclal statements does not cover the other inforniatioll and, except to the extent otherwise explicitly stated in our repor¢ we do not express any forn] of assurance conclusion thereon. In connection witlx our audit of the fmancial statements, our responsibility is to read the other inforn]ation and, in doing so, consider whether the other infOrntiOll is materially inconsistent with the fllwicial statement5 or our knowledge obtsined in the audit or otherwise appears to be materially n)isststed. If we id¢ntify such material inconsistencies or apparent material misstatements, we are required to determine wb¢ther this glves rise to a material misstst¢ment in the flllancial statemLnts themselve5. If, based on the work we have perfomed, we Lonclude that there is a materlal misstatement of this other inforn]ation, we are required to report that fact. We have notbing to report in this regard. Matters on which we are required to report by exeeptlon We have nothing to report in r¢sP¢¢t of the tollowing matters in relation to whicb tbe Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the inforniation given in the li¢port of the Trustees is inconsistent in any materiul respect with the fmancial statements. or the charitable company has not kept adequate acwunting records. or the financial slatements are not in agr¢¢ment with the accounting records and returns. or we have not received all the infonnation and explanations we require for our audit. or certain disclosures of trustees, remuneration specified by law are not rnade. Page 13
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 haritable company for the purposes of c4Jmpany law) are Tespollsible for the pr¢paration of tbe fmancial statements alld for being satisfied that they give a true and fair view, and for such internal control as the trustee5 d¢terniine is necessary lo enable the preparation of f1claI statements that are frcc from material misstatem¢nt, whether due to fraud or cT. In preparing the fjnancial statements, tbe trustees are responsible for assessing the charitable company's ability to ontinue as a going concern, disclosin& as applicable, matters related to going concern and using th¢ going concern basis of accounting unless the ttustees either itttend to liquidate the charit4ble company or to cease operations, or have no realistic alternative but to do so. Page 14
Report of the Independent Auditors to the Trustees of The Northpdm Care Trust Our responsibilities for the audit of the financial statements We have been appointed a5 auditors under S¢¢tioll 144 of the Clwitieg Act 201 l and Teport in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free from material mi5StatemeTht, whether due to fraud or ern)r, 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 guarantse 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 fanCial statements. As part of an audit in accordallce with ISAS (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. Irregulariticg, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our iesponsibilities, OUtlin¢d above, to detect material misstatcments in Icspcct of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of d¢8igning our audit, we deterniined materiality and assessed the risks of material misstatement in the fmancial ststem¢nt8, including how fraud may occur by enquiring of managem¢nt of Ats own consideration of fraud. We also considered potential flliancial or other pressures, opportunity and motivations for fraud. As part of this discussion we idcntificd the internal contro15 established to mitigate risks reldtcd to fraud or non-compliance with laws and rcgulations and how mallage]nent monitor these processes, In common with all audits under UK ISAS we arL' also requircd to perforn specific procedures to respond to the threat of management override. This work included testing the appropriatcness of journal entries and other adjustments; assessing whether the judgements made in n(]llg accounting estirnates are indicative of a potential bias, and evaluating the business rationale of ony signiticant transa¢tion8 that are unusual or outside the llorn)al course of business. We gailled an understanding of the legal and regulatory framework applicable to th¢ company and the industy in which it operates, and considered the risk of acts by the company that were contrary to these laws and regulations. including fraud. We focus¢d on laws and regulations that could give rise to a material misstatcment in the fmall¢ial ststements, including> but not limited to, the Health and Safety Act, UK Companies Act and UK tax legislatio In response to the risk of hTegularities and non-compliance with laws and regulations, we designed procedures which included, but were not limitsd to: . agreeing f]nancial statement diA0$ureS to underlying 5UPPOrting documentation: - readingy the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims. and - reviewing correspondence with HEC, relevant regulators and the Company's legal advisors. We did not identify any k¢y audit matt¢rs relating to itregularities, including fraud. Our audit procedures were designed to respond to ri8ks of material mi88tatement in the fGla1 statements, recogniqing that the risk of not detecting a material misstatement due to fraud is higher thaD the risk of not detecting one resulting from ern)r, ag fraud may itLvolve deliberate concealment by, for example, forgery, misrepresentations or thTougb collusion. There are inherent limitstions in the audit procedures perfornied and th¢ furtber removed non-cotnpliance with laws and regulations is from th¢ events and transactions reflected in the fmancial Statements, the less likely we are to berome aware of it. A further description of our responsibilities for the audit of the fanCIal statements is located on the Financial Reporting Council's website at www.fro.org.uklauditorsresponsibilities. This description forn part of our Report of the Independent Auditors. Page 15
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 rompany's ITustees, as a body, in awordance with Part 4 of the ChaTitILS (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the chaTitable ¢ompany's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the Ilest extent pernlitted by law, we do not accept or assume respon5ibilty to anyone other than the clwitable compony and the charitable Company's trustees &s a body* for our audit work, for this r¢porL or for the opinions we have fornied. for and on behalf of Sumei Auditco L Statutory Auditors F.ligible to act as an auditor in ternis of Section 1212 of the Companies Act 2006 69 High Street Bideford Devon EX39 2AT Date.. Page 16
The Northam Care Trust Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds as iestated Unrestrict¢d fund Restricted funds Designated Notes INCOME AND ENDOWMEIYTS FROM Donations and legacies 7,943 72,155 9,324 89,622 93,060 Charitable Aelivities Residential Community projects Domiciliary care Supported living 2,973,915 730,524 2,973,915 730,524 2,908,962 716,734 34,990 2,506,602 2,684,423 2,684,423 Investment income Other income 10,777 460 10,777 460 6,751 Total 6 408 042 6 489 721 6 267 099 EXPEIYDII'URE ON Raising funds 6,697 6,697 8,212 Chiritable a¢tlvltle$ Residential Cornmiinity projects Doniiciliary care Supported living 2,926,154 739,275 19,054 4,460 10,872 2,545 2,956,080 746,280 2,987,770 732,763 105,990 2 332 268 2 S99 933 2 626 678 Totgl 6 272 059 6 167 003 IYET INCOME/(EXPENDITURE) Tr4n5f¢r$ between funds 135,983 31,613 (13,610) 11,686 153,986 100,096 Net movemenl In funds 109297 46,613 (1,924) IS3,986 100,096 RECONCILIATION OF FUNDS Total fvnds brought forward 335,002 1,357,907 109,811 1,802,720 1,702,624 TOTAL FUNDS CARRIED FORWARD 444 299 1404 520 107,887 1956 706 1802 720 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes forni part of these fjnancial statements Page 17
The Northam Care Trust (Registered number: 04010653) Balance Sheet 31 March 2025 2025 Total funds 2024 Total funds as restated Unrestricted fund Restrictsd funds D¢signated Notes FIXED ASSETS Tangible assets J8 881,065 86,008 967,073 1,002,094 CURRENT ASSETS Stocks Dcbtors Cash at bank and in hand 19 20 3,150 284,591 478 493 3,150 284,591 1023 827 3.900 546.538 618.389 523 4fj5 766,234 523,455 21,879 lJllJ68 1,168,827 CREDITORS Amounts falling due withill one year 21 (321,935) (321,935) (368,201) NET CURRENT ASSETS 444 299 523 455 989 633 800 626 TOTAL ASSETS LESS CURRENT LIABILITIES 444,299 1,404,520 107,887 1,956,706 1,802,720 NET ASSETS 444 299 1404 520 107 887 1956 706 1802 720 FUI¥DS Unrestricted funds: Generftl tund Fixed asset5 Capit&l work and major repairs Voids reserve New servic¢ development Hydrotherapy Pool 22 444,299 874,365 200,1100 208,000 40,000 335,002 909.907 200,000 208,000 40,000 1848 819 1692 909 Restricted funds 107 887 109811 TOTAL FUNDS 1956 706 1802 720 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ¢nded 31 March 2025. The members have not deposited noticei pursuant to Section 476 of the Companies Act 2006 requiring an audit of these fjngncial statements. The notes forni part of these fjnancial 5tstemeDts Page 18
The Northam Care Trust (Registered number: 04010653) Balance Sheet- eontinued 31 March 2025 The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing fmancial statements which give a true and fair view of the state of affait3 of the rharitable company as at the end of each financial year and of its sury)lus or deficit for each fmancial year in acwrdance with the requirements of Sections 394 and 395 and which otherwise Comply with the requirements of the Companies Act 2006 relating to financial slatements, 50 as applicable to the charitable cornpany. These fjnancial statements have been audited under the requirements of Section 145 of the Cbarities Act 2011. The fman¢ial statements were approved by the Board of Trustees and Y4Uthorised for issue on ,............... and were signed on its behalf by: Mr R S Stoneman- TnLStee Mr P R Mol¢- Trustee The notes fonn part of these fLnancial statements Page 19
The Northam Care Trust Cash Flow Statement for the YeAr Ended 31 March 2025 2025 2024 as restated Notcs Cash flows from operatlng activities Cash generated from operations 25 420 869 206 386 Net cash provided by operating activities 420 869 206 386 Cish flows from investing actlvltl¢$ Purchase of tangible f¢d assets Sale of tangible fixed assets Interest received (26,208) (157,088) 4.000 Ncl cash used in investing aGtivities 15,431) 146,337) Changc in ca8h and cash equivalents In the reportin& perlod Cash and cash equlvalents at the beginnlng of the reportlng period 405,438 60,049 618389 558 340 Cjsh and eash equlvalents at the end of the reportlng period 1 (123 827 618 389 The notes forni pth of these fllclaI ststem¢nts Page 20
The Northam Care Trust Notes to the Financial Statements for the Year Ended 31 March 2025 STATUTORY INFORMATION The Nortbam Care Trust is a private company registered with the Charity Commission, limited by guaralltee. regist¢r¢d in England 8lld Wales. The charitable company's registered compally number, r¢gistered charity number and registered office address can be found on page l. Th¢ presentation currency of the financial statements is the Pound SteTling (£). ACCOUNTING POLICIES Bftsis of preparing the flnancial statement$ The fjnancial statements of the charitable company, which is a public benefrt entity under FRS 102, have been prepared in accordance with the Clwities SORP (FRS 102) 'ALcounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland (FRS 102} (effective l January 2019),. Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fanCIal ststements haye b¢¢n prepared under the historical cost convention. Thc principal accounting policies adopted in the preparation of the fJnau¢ial ststements are set out below and remain unchanged from the previous period, and also have been consistently applied within tILe same accounts. CritieAI Aeeountlng judgements and key Jourcej ofestimatlon uncert•inly In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions a1ll¢ the carrying amount of ass¢ts and liabilities that are not readily apparent from otber sources. The estimates and associated a5sumpt10115 are bascd on historical experience and other factors that are considered to be relevant, A¢tual results may difter from these estimates. The estimates and underlying assumptions are reviewed on an ongyoiThg basis. Revisions to accounting estimales are recognised in tbe period in wbich the estimate is revised where the revision affects only that period, or in the period of the revision alld futur¢ periods wbere the revision aflccts both current and luture periods. Key sour¢es of estimation unc¢rtainty The estimates and assumptions which have a significant risk of causing a material adjustrent to the Carrying amoullt of assets and liabilities are as follows. Estimated u5efil lives In deterniinillg the estimated useful life the company considcrs the expected usage (¢apa¢ity or physical output) of the asset, expected physical wear and tear of the ass#t and expected technical advancements in the industy that could lead to obsolescence of the asset. Each year th¢ company reviews the above to establish if there is any ¢hange is expected useful life of tangible assets. Provision for doubtful debts Where estimated aDiounts receivable is legs than the value of the debt itLcluded in the accounts, a provision for doubtful debts will be recorded. lllcome All income is recognis¢d in the Statement of Financial Activities once the tharity has entitlem¢nt 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 illcome and are credited to the income and expenditure account over the estimated use1 life of the a5set5 to wbich they relate. Grants of a revenue naiure are credited to the income and expenditure account in the same period as the related cxp¢llditure. Page21
The Nortbam Care Trust Iyotes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES- continued Expenditure LiabilAties are re¢ognised as expenditur¢ as soon as there is a legal or constrnctive obligation con]mitting the chartty to that expenditure, it is probable that a transfer of economi¢ benefits will be required in settlement and the amount of the obligation can be measured r¢liably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregat¢ all cost r¢lat¢d 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. GovernAnee eosts Governance costs include costs of the preparation and examillation of the statutory accounts, the costs of knstee meetings and the cost of any legal advice to trustees on governance or constithtional matters, Allocation Ind apportionment of eosts Support costs include central functions and have been allocated to a¢tivity ¢ost categories on a basi5 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 stsff. T&nglble fixed assets Depreciatioll is provided at the followlng annual rates In order to wrlte off each as8¢t over its estimated useful lif¢. Freebold property 20/0 straight line and nil on land Fixtures w)d fittings Motor vehicles Comput¢r equipment 200/0 straight line 2011/D straight line 330/0 straight lin¢ Tangible red assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and aCCUD]ulated impairnient losses. Cost includes costs directly attTibutable to making the asset capable of operating as intended by management. The trustee5 have ¢hos¢n to only capitalise red 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. Taxatton The charity is exempt from corporation tax on its charitsble activitie5. Fund a¢countlng Unrestrirted funds can be used in accordance with the charitable objectives at the discretion of the tnlees. Restricted funds can only be us¢d for particular restricted purposes within the objects of the chaTity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose5. Further explanation of the nathre and purpose of each fund Is included in the notes to the f]nancial statements. ExeeptionAI items The charitable company discloses as exceptional items material items which derive from events or transactions Ibat fall within the ordinary activities of the reporting entity and which individually, or, if of a similar type, in aggregate, it is considered ne¢d to be disclosed by virtue of thcir size or incidcnce if th¢ fmallcial statements are lo give a true and fair view. Page 22
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 Mareh 2025 ACCOUNTING POLICIES - eontlnued Pension Costs and other p05t-retirement benefits The chatitable company operates a defmed contribution pension scheme. Contributions payable to the haritable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Financial instrnments Basic fmancial instruments with no ststed interest rate and receivabl¢ or payabl¢ within one year are recorded at transaction price. Any losses arising from ijnpairment are recogni8cd in the inri)me and expenditure account in administrative expenses. Loans and borrowings arc initiully rcLognised at the transaction price including transaction costs. Coing eoneern Having regard to the charity's anticipated future revenues and costs including repayment of debt wher¢ appropriate, together with the expected availability of working capitsl, the trustees COD5ider that it is appropriate to prepare the fjnancial statements on the going concern basis. DONATIONS AND LEGACIES 2025 2024 as restated Donations and gifts INVESTMENT INCOME 2025 2024 &s restated Deposit account interest INCOME FROM CHARITABLE ACTIVITIES 2025 2024 as restated Activity Residential Community projects Domiciliary care Supported living Residential fees Community projects Doiniciliary care Supported living 2,973,915 730,524 2,908,962 716,734 34,990 2 506 602 2 684 423 6 167 288 Page 23
The Northam Care Trust Iyotes to the Finaneial Statements - continued for the Year Ended 31 March 2025 OTHER INCOME 2025 2024 as restaled Oth¢r income 460 Included in oth¢r income are government grants totalling £nil (2024- £nil). RAJSING FUNDS Actlvltles for raising funds 2025 2024 as restated Other fundraising costs CHARITABLE ACTIVITIES COSTS Support costs (see note 9) Direct Costs Totals Residential Community projects Supported living 1971 J09 499,467 69 984,571 246,813 2,956,080 746,280 2 626 678 4 740 193 1588 845 Support costs have b¢¢n apportioned across the cbarity's &ctivitie$ and projects based on care hours provided by stati. SUPPORT COSTS Head of care Governance costs Totsls Residential Community projects Supported living 116,686 4,559 859,087 240,097 332 744 &798 2,157 984,571 246,813 357 461 138 041 1431928 1588 845 Support Gosts have been apportioned across the charity's activities and projects bp3ed on care hours provided by staff. Page 24
The Northam Care Trust Notes to the Financial Statements - Continued for the Year Ended 31 Mareh 2025 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargIn(crediting)'. 2025 2024 as restated Depreciation - owned assets Deficit on disposal of fixed assets 61,229 39,620 977 ii. AUDITORS, REMUNERATION 202S 2024 as restat¢d Fees payabl¢ to th¢ charity's auditors for the audit of the clwity's fall¢la1 statements 12. TRUSTEES, REMUNERATIOIY AND BEIYEFITS There were no truste¢s' remuneration or otber benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 Marcb 2024. 13. STAFF COSTS 2025 2024 as restated Wages and salaries Social security costs Other pension costs 5,097,198 358,830 4,958.944 354,994 5 546 707 5 397 021 The average monthly number of employees during the year was as follows: 2025 2024 as restated 258 Charitable activitie5 247 The number of employees whose employee benefits (excluding ¢mployer pension costs) exceeded £60,000 was.. 2025 2024 as reststsd £70,001- £80,000 Wages and Salaries relating to support staff have been 8PP()rtioned across the chArity's activities and projects based on care hours provid¢d by staff. Page 25
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 14. EXCEIryIONAL ITEMS Exceptional itern8 which are sunmjarised below have be¢n classified within the profit And loss accouut under the appropriate heading: Redundancy payments- £30,430 (2024 - £nil). 15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fuj Restricfrd nd5 Totsl funds as re8tat¢d Designated INCOME AND ENDOWMENTS FROM Donations and legacies 29,110 63,950 93,060 Charitable activities Residential Coinmunity projects Domiciliary care Supported living 2.908,962 716,734 34,990 2,506,602 2,908,962 716,734 34,990 2,506,602 Investm¢nt Income Total 6 203 I49 6 267 099 EXPENDITURE ON Raising funds 8,212 8,212 Charitable Ydctlvities Residential Community projerts Domiciliary ¢ar¢ Supported living 2,963,828 731.214 105,990 2 326 404 1,754 1,390 22,188 159 2,987,770 732.763 105,990 2 332 268 602 Tot41 6 135 648 6 167 003 NET INCOMEI(EXPENDITURE) Transfers between funds 67,501 {8,406) 41.001 100,096 Net movement In funds 20,045 33,942 46,109 100,096 RECONCILIATION OF FUNDS Total funds brought fonvawd As previously reported Prior year adjustment 373,022 58 065) 1,323,965 63,702 1,760,689 58 065) As restated 314.957 1,323,965 63,702 1,702,624 TOTAL FUNDS CARRIED FORWARD 335 002 1357907 109.811 1 802,720 Page 26
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 16. PRIOR YEAR ADJUSTMENT The prior year figures have been restated to better reflect monies held on behalf of residents of £90,045 which was previously reported withill cash at bank and in hand as deduction5 against amounts held. The effect of this has been to illtTeage eash at bank and in hand by £90,045 and to increase creditors by the same aDkount. The reported profit irA the year ended 31 March 2024 has remained the same and has had no effect on reserves. 17. KEY MANAGEMENT REMUNERATION The total compensation payable for the year to those individuals whom the tNstees consider to be key management personnel was £541.841 (2024 - £533.370). 18. TANGIBLE FIXED ASSETS Fixtures Freehold property Computer equipment vebi¢les Totals COST At l April 2024 Addilions 1,198,308 311,363 151,246 28,482 1,689,399 At 31 March 2025 1209 273 321606 156 246 1715 607 DEPRECIATION At l April 2024 Charge for year 294,960 260,726 103,137 17 23 462 14 28,482 687,305 At 31 March 2025 315 413 284 188 120 451 748 534 NET BOOK VALUE At 31 March 2025 893 860 At 31 March 2024 903 348 1002 094 Included in cost or valuation of land and buildings is freehold land of £180,000 (2024 - £180,000) which is not depreciated. Page 27
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 19. STOCKS 2025 2024 as restated Stocks 3,150 20. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Trade debtors Other debtors Prepayments and accrued income 143,627 6,107 134 857 351,867 16,536 178 135 284 S91 546 538 21. CREDITORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR 2025 2024 a5 restated Trad¢ creditors Social security and other taxes Other creditors Accruals and deferred income 38,469 86,581 178,08J 52,933 77,153 217,522 321935 368 201 Page 28
The Northam Care Trust Notes to the Finaneial Statements - continued for the Year Ended 31 March 2025 22. MOVEMENT lly FUNDS Net MOveent in Trdnsfers between funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund Fixed assets Capital work and major repairs Voids reserve New service development Hydrotherapy Pool 335,002 909,907 200,000 208,000 40,000 135,983 (40,542) (26,686) 5,000 444,299 874,365 200,000 208,000 40,000 1,692,909 167A96 (11,686) 1,848,819 Restricted funds Minibuses Clients hardship Carers Project Appledore Kiosk Sensory tables Northam Lodge lift David's Pub Rose Hill S¢nsory Room Cosmo Switches New training centre Reconnecting isolated older people New Bus Rose Hill Jacuzzi Bath NL 17276 783 4,575 1,500 1,718 2,237 2,617 23,760 422 14,608 9,120 22,800 (5,759) 11,517 783 4,575 1,5UO 859 (859) (1,118) (IJ09) 6,524 1,308 30,284 422 18,490 7,697 17.100 12,233 (383) {1,423) (5,701)) 4,265 109811 107 887 TOTAL FUNDS 1802 720 153 986 1956 706 Page 29
The Northam Care Trust Notes to the Financial Statements - Continued for the Yeydr Ended 31 Marcb 2025 22. MOVEMEKt IN FUNDS - continued N¢t movement in funds, included ID the above are as follows: Incojlling resources Resources expended Movement in funds Unrestricted funds General fund Fixcd asset5 Hydroihcrapy Pool 6,408,042 (6,272,059) (40,542) 135,983 (40,542) 6,480,197 (6,312,601) 167,596 Restrlcted funds Minibuses Sensory tables Northam Lodge lift David's Pub Ros¢ IIill Sensory Room New training centre Reconnecting isolated older people New Biis Rose Hill Jacuzzi Bath NL (5,759) (859) (1,118) (1309) (1,976) (383) (2,447) (5,700) (5.759) (8S9) (1.118) (1,309) 6.524 (383) (1,423) (5,700) 8AOO 1,024 TOTAL FUNDS 6 489 721 6 335 733) 153 986 Page 30
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 22. MOVEMEKf IN FUNDS - eontinued Cofflparalives for movement in funds Prior year adjustment Net rnovement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds Gcneral fund Fixcd assets Capltal work and major repairs Cl()%ure contingency Voids reserve New service development 373,022 535,062 (58,065) 67,501 (47.456) 374,845 335,002 909,907 200,000 340,903 208,000 (8,406) 8,406 (340,903) 200,000 208,000 1,696,987 (58,065) 59,095 (5,108) 1,692,909 Restricted funds Mii)ibuses 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 mewbership scheme New trdining centre Reconnecting isolated older people New Bus Rose Hill Jacuzzi Bath NL 23,035 783 4,575 1,500 17 2,577 3,355 3,926 12,172 422 (5,759) 17,276 783 4,575 1,500 (17) (859) 1,718 2,237 2,617 23,760 422 (1,309) 11,588 1,004 ( 1,635) 631 7,906 6,702 14.608 2,430 6,690 22,800 9,120 22,800 109 811 TOTAL FUNDS 1760 689 100 096 1802 720 Page31
The Northam Care Trust Notes to the Financial Statements - Continued for the Year Ended 31 March 2025 22. . MOVEMENT IN FUNDS- eontlnued Comparative net moveD]¢nt in fund5. included in th¢ above are as follows: Incoming resources R¢sources expended Movement in f[lls Unrestricted funds General fund Capital work and major repairs 6,203,149 (6,135,648) 67,501 6,203,149 (6,144,054) 59,095 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 (5,759) (859) (1,118) (1,309) (1,412) (5,759) (859) (1,118) (1,309) 11.588 13,000 (1,635) (298) (2,760) (5,700) (1,635) 6.702 6,690 22,800 7,000 9,450 28,500 TOTAL FUNDS 6 267 099 6 167 003) 100 096 05¢ of material funds General fifftds are donations and other incomin8 resources receivable or generated for the objects of the chlty without further specific purpose and which the charity may use for Its purpose at its discretiotL The fLxed assets fund has been designated to cover the net book value of tangibl¢ fed assets to reflect the fact that thes¢ are not readily realisable. The capital work and DJOr rcpalrs fund has been designated to provide a ready source of funds for repair or acquisitioD of buildinLYS, lei18L'holds, furnitur¢, rtUres, and equipment nec¢5sary for the effextive operation of the organisation and proyams. The voids regerve fund bccn dcglgnated to subsidise residential services if there are void roonjs (attracting no fees) in order to maintain the samc high quality of car¢ for the remaining clients. Th¢ new service development fund has been designated to ensure resource5 are available to support the development of a new service without impacting regular operdtions or budgetary constraints. The Hydrotherapy Pool fund has been designated to cover th¢ cost of acquiring and installing a hydrotherapy pool, In the opinion of the Trustees. suffici¢nt funds are h¢ld in an approprial¢ forni to enable each fund to be applied in accordance with the relevant restrictions. Page 32
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 22. MOVEMENT IN FUNDS- continued TrAnsfers between funds Transfers have between made between desigllated funds and the unrestricted general fund to bring tbe closing balances on these funds to the amounts which the trustees consider appropriate to meet the flnancial requirements of the relevant fund, A transfer of £5,000 has beejj made from the unrestrided general fund to the Fixed asset fund to cover the excess Spent on red assets beld within that fund, A transfer of £10,000 has been made from the unrestricted general fid to the Hythotherapy Pool fund to designate amounts r¢ceived in the previous year lo the fvn(L A transfer of £4,265 has b¢en made from the unrestricted general fund to the New training centre fid to cover the excess spent on red ass¢t5 held within that fund. A transfer of £7,421 ha5 been mad¢ from the unrestricted general fund to the Jacuzzi Bath NL fijnd to cover the ex1¢5b spcnt on fL¥ed assets held within that fund. 23. CONTINGENT LIABILITIES The ch4rity has entered into 5ervi¢e level contracts with housing providers in the course of their supported living prograttlln¢. These provide that in the ev¢nl of rental voids, the clwity is required to pay the housing provider the gross rents for empty unils plus some additional costs such as servkce charges and ¢oun¢il tsx. At 3 1st March th¢ charity had service level agreements covering 44 rentsd units and an average occupancy rate for the year ended 3 1st March of 860/0. It is not practicable to make a reliable estimatc of the financial effect, or the timillg of any possible liabilty isin& due to the uncertainty of when voids arL' likcly to occur alld th¢ l¢llgth of time any individual unit will be vacant. The ISteeS are actively working to ensure that volds are minimised as far as possible, 24. RELATED PARTY DISCLOSURES There were no di5closablc related paty tr8llSaCtions for the year ¢nd¢d 31 March 2025 other than the key management remuncration disclosed above. Page 33
The Northam Care Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2025 25. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITJES 2025 2024 as restated Net income for the reporting period (as per the Statement of Finarteiil Actlvities) Adjustments for: Depreciation rlwges 1.08s on disposal of red assets IntLrcsl rcceived Dccrease/(incr¢ase) in stocks Docrease in debtors (Decrease)/increase in creditors 153,986 100,096 61,229 59,620 977 (6,751) (2,680) 7,240 47,884 (10,777) 750 261,947 46266 Net cash provided by operations 420 869 206 386 20. ANALYSIS OF CHANCES TN NET FUNDS At 1.4,24 C&8h flow At 31.3.25 Iyet CY4sh Cash at bank and in hand 618 389 1023 827 618 389 1023 827 TotAI 618 405 438 023 827 27. CHARITY STATUS The clwity is a private company limited by guarant¢e and consequently does not have share capital, Each of the Members is liable to contribute an amount not exceeding £10 towards tbe assets of the charity in the event of liquidation. Page 34