Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Annual Report and Financial Statements
Year ended 31 March 2024
Charity number . 1086162
Company Number.. 03286106
Feltons
Feltons
Chartered Accountants.
Birmingham
B13JR
*ADIAPYA8•
1911212024
COMPANIES HOUSE
A23
#11

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Report and financial statements
Year ended 31 March 2024
Contents
Page
Reference and admlnistrative details
Report of the trustees
Independent auditor's report on the financial statements
Statemont of financial activities
incorporating income & expenditure account
13
Balance. sheet
14
Cash flow statement
15
Notes forming part of the financial statements, incorporating
Statement of accounting policies
16
Othe'r notes to the financial statements
22
The followlng page does not form part of the ststutory financial
ststements:
Detailed income and expenditure ac.coun1
34

Sandwell Community Caring Trust
(A Company Limlted by Guarantee)
Reference and Admlnistrative Details
Trustees
Mrs S A Rogers
Mr G.Walker
Mrs M Hall
MrA S Coley
Mr5 K L Jones
F A Betteridge
appointed 13 November 2023
resigned 1. April 2023.
Company'secretary
Mrs T D Graham
Key managèment'personnel
,Andrew Coley
Chief Execuiive
Re9lstered office
Trigate Building
Hagley Road W86t
Oldbury
England
868 ONP
Charfty number
1086182
Company registration number
03286106
Audllor
Felton5
8 Sovereign Court
8 Graham Street
Birmingh8rn 813JR
Bankers
8arclays Bank plc
47 Hlgh Street
Dudley
West Midlands DY1 IPP
Sollcltor$
Wfighl Hassall LLP
Olympus Avenue
Leaminglon Spa
Wa￿ck$hire CV34 6BF
Page 1

Sandwell Community Caring Trust
(A Company Limlted by Guarantee)
Rèport of the trustees
Year ended 31 March 2024
The Irustees present their report and the financial statements af the charity for the year ended 31 March 2024.
The trustees have adopted the provisions Df the Stalement of Recommended Practice (SORP) 'Accounting
and Reporting by Charities" in preparing the annual report and financial stalements of the charity.
The financial stalements have been prepared In accordance with the accounting policies set out In note5 to the
accounts and comply with the charity's governing document, the Charities Act 2011 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 published in
October 2019 .
Trustee8 of the charlty
Detalls of the trustees who served during the year and to the date these accounts are approved are included in
the Reference and Administrative details on page 1.
Objectives and activlties
The Trust'5 objectives are to promote the relief of and provide relief, support and assistan￿ to individuals who.
by reason of old age, mental illness or physical or learning disabi1Stles, require special care and attention.
To promote, in particular, the relief of and support and assistance to beneficiaries who are resident in or
associated to Sandwell MBC, Walsall MBC, Dudley MBC and Torbay Care Trust or any of its nei9hbourlng
councils.
There has been no change in these during the year.
In shaping our objectives for the year and planning our aclivitles, the trustees have considered the Charity
Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity (P82}'.
Whilst the adverse consequences of the covid-19 pandemic have gradually subsided, covid-19 continues to
pose challenges to the adult social care sector. Despite this, the Trust has managed to meet the objectives
highlighted above. Throughout the year the Trust has SUGce5sfully kept its residents, tenants and employees
safe.
The principal activity of the Trust is lo provide health and social care services to older people and adults with
learning andlor physical disabilities. The Trust currently provides residential care for over 110 older people, 88
of whom are suffering with dementia, 1 $0 days of day care each week for adults with profound learning and or
physical disabilities and care and support to over 280 adults with learning disabilities in supported Ilving. As
reported in the previous years, financial statements. the pandemic had a detrimental impact upon occupancy,
particularly within residential care, which contributed to a deterioration in financial performance. However, on
positive note, the recovery in occupancy levels within residential in the latter part of that financial year continued
in the financial year ended 31 March 2024.
One of the continuing major objectives during the financial year has been to fully understand the implications of
austerity on Local Authority income and the impact that this would have on the fees paid for Ihe delivery of Adult
Social Care. In addition, the Charity will need to continue to clarify the implications of the continued rise in the
National Minirnum Living Wage, particularly in the context of on-going austerity.
Page 2

Sandwell Community Caring Trust
{A Company Llmited by Guarantee)
Report of the trustees (continued)
Year ended 31 March 2024
Objectives and activities (continued)
There is no restrictlon on who Can access the services provided by Sandwell Community Caring Trust. All the
care packages which are provided are based on the clinical and social needs of each individual.
Admission to Sandwell Community Caring Trusvs seNices normally takes place after a multi-disciplinary needs
assessment, which involves the prospecb've ser¥ice user and their family.
The Trustees have paid due regard to guldance Issued by the Charity Commission in deciding what activities
the Charity should undertake.
The services provided by Sandwell c.ommunity Carlng Trust are compliant wllh the Commission for Racial
Equalities Code of Practice.
Due to the nature of the servlces that it provides, the charity does not rely on the use of volunteers.
Strateglc report
The description under the headings "Achievements and performance" and "Financial review" meet the
ompany law requirements for the Trustees to present a strategic report.
A¢hlevements and performanc•
The Trust has continued to ma'intain and fulfil its contractual obligations and achieved its targets securing
ongolng provlsion for the care of vulnerable people.
Two of the Trust's main key performance Indicators are the level of employee sickness and staff tumover.
Employee sickness levels are monitored through the year.
The staff turnover for this year was 17% (2023'.19Vo) whlch was a decrease of 2 percentage poinls compared
to last year.
Staff turnover not only has a financial impact on the Trust but also impact on the quality of care that is provided
to its service users. These levels have remained constant over the years which contribute to a consistent happy
work force that provide a high quality of care to the vulnerable people that deserve to receive continuity from
the service they need.
Despite the difficulties experienced during the pandemic. the Trust successfully maintained the standard of
care provision without recourse to the use of staffing agencies and continues to do so.
The quality of the care that the Trust provides is rneasured and regulated by the Care Quality Commission and
Is reflected in their Inspectlon reports on the Trust's services.
Page 3

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Report of the trustees (continued)
Year ended 31 March 2024
Flnancial revlew (including reseNes policy,)
The company's balance sheet as detailed on page 14 shows that the funds before the 2024 defined benefit
pension scheme liability amounted to £8,736,631 (2023.. £8,570,188). The closing position Including the
pension scheme liability as at 31 March 2024 was £8.736,631 {2023= £8,570,188).
The Statement of Financial Activities on page 13 of these financial statements shows a surplus expenditure of
£448,443 {2023.' net deficit expenditure £888,442) for this financial year, This considerable improvement in
financial performance is attributable to a number of contributory factors, the most significant of which are fee
increases as a result of the fair cost of care increases which have generated significant increases in fees paid
by local authorities, residential Gare home occupancy rates being at near-capacity and the implementation of
cost control measures.
The Balance Sheet, on page 14 of these financial statements, shows net current assets of £1,701.804 (2023:
£1,755,932).
The Trustees are reassured that the Charity continues to meet its loan obligations and working capltal
requirements, when due, from its cash at bank balances.
Having considered the above., in conjunction with projections for the year ending 31 March 2025, at the time of
approving the financial statements, the Trustees have a reasonable expecialion that the Charity has adequate
resources to continue in operational existence for the foreseeable future. Thus, as confimied in note 1.2 on
page 16, the Trustees continue to adopt the golng concern basis of accounling in preparing the financial
statements.
It is the policy of the Charity that unrestricted funds before the defined pension scheme liablllty. which have not
been designated for a specific use, should be maintained at a level equivalent lo 10°/o of incoming resources
from charitable activlties. The Trustees consider that reserves at this level will ensure that, in the event of a
significant reduction in funding, they will be able lo continue the Charity's cur￿nt activities while consideration
15 glven to ways In whlch additional funds may be ralsed,
Having developed a clear understanding of the Impllcatlons of austerlty on local authority contracts and the
impact of the continued rise in the National Minimum Living Wage, as reported in previous years, the Charity
introduced changes in the terms and conditions of its employees that reflect Ihe new financSal environment
within which it operates. These changes were implemented in October 2018 and the Charity continues to
ass8SS th8 impact of these changes and review ils financial position, in the cont8Xt of its operating
environment. on a regular basis.
Investment powers and policy
The charity currently has no long-temi investments but takes advantage of short-term cash flow situations by
placing funds with institutions approved by the Board.
Page 4

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Report of the trustees (continued)
Year ended 31 March 2024
Risk management
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are
in place to mitigate exposure to these major risks.
The Trustee Board is responsible for overseeing the charitys risk management actlvities. Detailed
consideration of risk is delegated to the Senior Management Team, who are continually reviewing this matter
and reportlng thereon to the Trustee Board. Through the risk management process established for the charily,
the Trustees are satisfied that the major risks have been identified and processes for addressing them have
been implemented. It is recognised Ihal any control systems can only provide reasonable but not absolute
assurance that major risks have been adequately managed.
In previous years the defined benefit pension scheme deficit has had a significant impact on the net assets of
the Trust and is based on the valuatlon provided by the Scheme's actuarles In accordance with Generally
Accepted Accounting Practice. The key risk to the Trust surrounding such a pension deficit is the funding of
future contributions for both Schemes in place. This is mitigated by the fact that both Schemes no longer admit
new members 8greement with Sandbvell MBC that any employer contributions above the agreed 17.9Yo relating
to the EMI Scheme will be paid by the Council although the current employer contributions are 11.50/0 for this
particular scheme. Furthermore, when an employer applies for admitted body status, the WMPF requires a
guarantor or a Bond to cover any costs in the event of insolv8ncy. The WMPF has procedures in place to
mitigate the risks of rogue employers.
It should be noted that as at 31 March 2024 there was deemed to be a detlned benefit pension surplus of
£8.4m (2023: £6.6m). However. under FRS 102 a pension scheme surplus is only recognised as an asset in
the balance sheet to the extent that the employer can recover a surplus through reduced contributions or
refunds. Therefore, in accordance with these reqU1￿ments the defined benefit pension Ilability Is shown as nll
on the balance sheet. See further details at note 24.
The Trustee Board is aware of the combined risks posed by austerity on local authority contracts and the
increase in the National Minimum Living Wage. They have clear plans which will address these risks and
ensure the continued sustainability of the Charity,
The Trustees previously reported on the outcome of a CQC inspection of its SUPPOrted living services in July
2021.
The inspection rated SCCT'S supported living services as 'inadequate.' This rating came as a complete
surprise and in response a detailed action plan, to address all the concerns noted in the report, was
implemented. This aclion plan was accepted by CQC and all the local authorities which commissioned our
supported living services. Following the Implementation of the action plan our supported living services were
reinspected in February 2022. This follow-up inspection report recognised all the improvemenls that had been
made and noted the very positive comments made by our service users and their families and other
professionals working in partnership with SCCT. The overall rating was 'requires improvement..
The inadequate rating from the report In July 2021. whilst very disappointing, did not represent any risk to the
sustainability of SCCT as a business. All the key commissioners of our seNices remained confident in the
services we provided and left all their contracts in place. Our commissioners worked with us to ensure thal we
addressed the issues highlighted by CQC.
Page 5

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Report of the trustees (continued)
Year ended 31 March 2024
Risk management (continued)
The Senior Strategy Meeting process Instigated by SCCT'S commissioners, In response to the CQC report
published on 14 September 2021, was closed with no further action required.
It was previously reported thal SCCT would request a further full inspection of Supported Living Services by the
CQC with the previous Chief Executive expectlng the service to regain ils 'Good' rating. This has not occurred
yet due to the CQC revising its regulatory approach and, in particular, its criteria for conducting re-inspections.
SCCT wlll continue to explore the possibllity of securing a further full inspectlon of ils Supported Llving
SeNices.
Plans for future periods
The Trust is always looking towards the futur.e, seeking out new prospects and contracts to enable them to
continue to deliver seNices to those most needy.
The Trust Is able to take advantage of any opportunities for expanslon particularly through the transfer of
providers from local authorities, as austerity and budget deductions fully impact on local authority expenditure
on adult soclal care,
Structure, governance and management
Goveming document
The Charity Is a charitable company limiled by guarantee. and was set up on 1 April 1997. It Is ,governed by
Memorandum and Articles of Association.
The Trustees, who are also the directors for the purpose of company law, and who seNed during the year were:
Mrs S A Rogers
Mr G Walker
Mrs M Hall
Mr A Coley
Ms K Jones (appointed 12 October 2023)
Appointment of trustees
The Board of Trustees may fill vacancies arising during the year by appointing Trustees themselves, but any
Trustees so appointed shall retsin their office only until the next Annual General Meeting when they shall be
eligible for re-election.
Any appointments made are wth due regard to the broad range of relevant skills required by the Board of
Trustees and the specialist skills and experience offered by the appllcant Trustee.
None of the Trustees has any beneficial interest in the company. All the Trustees are members of the company
and guarantee to contribute £1 in the event of a winding up.
Page 6

Sandwell Community Caring Trust
{A Company Limited by Guarantee)
Report of the trustees (continued)
Year ended 31 March 2024
Organlsatlon
The goveming body of the Charity is the Board of Trustees which comprises 4 members and has met 4 times a
year together with the Senlor Management Team.
The Chief Executive has been appointed by the Trustees to manage the day-to-day operations.
Trustee induction and training
Indivldual Trustee training is undertaken by Trustees on a need basls but training for the full Board of Trustees
and Senior Management Team takes place ai least annually and focuses on governance issues.
Relatedpartles and co-operatlon wlth other organlsatlons
None of our trustees recelve remuneratlon or other benefi't from their work with the charity. Any connection
befvleen a trustee or senior manager of the charity with a client or suppller must be disclosed to the full board
of trustees in the same way as any other contractual relationship with a related paty. Related party
transactions in the current year are described in notes 10 8nd 25 to the accounts.
Paypolicy for senior staff
The Trustees are. responsible for determining the pay and conditlons of key management personnel. This is
done in consultation with an external human resources company who provide advice on comparative posits'ons
across the sector.
The Chlef Executive Officer is responsible for recommending any changes In pay and conditlons of the
remainder of the paid service.
Employee Involvement
The Charity's policy Is to consult and discuss wllh empbyees, through unions, staff councils and at meetings,
matters likely to affect employees, interests.
Information of matters of concern to employees is given Ihrough information bullelins and reports, which seek
to achieve a common awareness on the part of all employees of the financial and economic factors.affecting
the group's performance.
Dlsabled persons
Applications for employment made by disabled persons are always fully considered, bearing in mind the
apts'tudes of the applicant concemed. In the event of members of staff becoming disabled, every effort is made
to ensure that their employment within the Charity continues and that the appropriate training is arranged. It is
the pollcy of the Charity that the Iraining, career development and promotion of disabled persons should. as far
as possib5e, be identical to,that of other employees.
Page 7

Sandwell Communlty Carlng Trust
IA Company Limited by Guarantee)
Report of the trustees (contlnued)
Year ended 31 March 2024
Auditors
A resolution proposing that Feltons be reappointed as auditors of the company will be put lo the m8mbers.
Disclosure of information to auditor
We, the directors of the company who held office at the date of approval of these Financial Statements as set
out above each confirm, so far as we are aware, that..
there is no relevant audit information of whkh the coffjp.any's auditors are unaware,. and
we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of
any relevant audit information and to establish that the company's audilors are aware of that informatlon.
The Trustees, report, including the Strateg1¢ Report. was approved by ihe Board of Trustees.
Mrs M Hall
Dated.. 8 December 2024
Page 8

Independent Auditor's Report to the Trustees of
Sandwell Community Caring Trust
(A Company Llmlted by Guarantee)
Opinion
We have audited the flnancial statements of Sandwell Community Caring Trust (the 'charitable company'} for the year
ended 31 March 2024 which comprise the Statemenl of Financial Activities, the Balance Sheet, the Statement of Cash
Flow8 and notes to th8 financial statemenls. Including signrficant accounting policies. The financial reporting
fiamework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" (Unlted Kingdom Generally Accepted Accounting Practice).
In oilr opinlon the financial stalements
give a Irue and fair view of the state of the charitable company's affaits as 8131 March 2024, and of its
incomlng resources and application of resources. including its income and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been PrePa￿d in aCcOrda￿e with the requitements of the Companies Act 20(￿.
Basls for oplnlon
We conducted our audit in accordan¢e with Internatlonal Standards on Auditing (UKJ {ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial slalements section of our report. We are independent of the charitable company in accordance with the
ethlcal 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 ethlcal responsibilities in accordance wth these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going cohcern
In auditing the financial statements. we have Goncluded that the trustees, use of the 90ing 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 ovents or
conditions Ihal, indivldually or colleclively, may cast significant doubt on the charitable Company's ability lo continue as
a going concern for 8 period of at least ￿e1ve months from when the financial slalements are authorised for issue.
Our responslbilities and the responsiblltties of the trustees with respect to going concern are described In the relevant
sections of this report.
Other infofmatlon
The other infomation comprlses th8 Information included In the trustees annual report. other than the fln8n¢ial
statements and our auditor's report thereon. The trustee5 are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other infonnalion and, except to the extent
olhemise explicitly staled in our report. wè do not express any fom of assurance conclusion thereon.
Page 9

Independent Auditor's Report to the Trustees of
Sandwell Community Caring Trust
(A Company Limited by Guarantee)
(continued)
Our responsibility is to read the other information and, in doing so, consider whether the other informalion is materially
Inconsistent with the financial statements or our knowledge obtained in the course of the audit or othe￿iSe appears to
be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are
required to determine whether this give5 rise to a material misstatement in the financial statemenls themselves. If,
based on the work we have performed, we conclude that there is a material misstatement of this other information. we
are required lo report that fact.
We have nothing to report in this regard.
Oplnion on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trust88s' Report for the financial year for whlch the financial statements are
prepared is consistent with the financial statements: and
the Trustees. Report have been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledgè and understanding of the company and its environment obtained in the course of the
audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relatlon to which the Companles Act 2006 requires us
to report to you if, in our opinion..
adequate accounting records have not been kept, or
the financial statemenls are not in agreemenl wbth the accounting records and returns,. or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not ieceived all the information and explanations we require for our audit., or
Ihe trustees were not entitled to prepare the financial statements in accordance with the small companles
regime and lake advantage of the small companies, exemptions in preparing the Trustees. Report and from the
requirement to prepare a Strategic Report.
Responslbllltles of trustees
As explalned more fully in the trustees, responsibilities statement {set out on page 5), the Iruslees (who are also the
directors of the charitable company for the purposes of company. law} are responsible for the preparation ol the
financial statements and for being satiSf￿d that they give a true and fair view, and for such internal control as the
trustees detemine is necessary to enable the preparation of financial statemenls that 'are free from material
misstatement. whether due to fraud or error.
In preparing the financial statemants, the trustees are responsible for assessing. the Charitable companls ability to
continue as a goin9 concern, disclosing. as appllcable, matters related to"going concern and using the going concern
basis of accounting unless Ihe trustees either inlend to liquidate the charitable company or to cease operations, or
have no realistic allernalive but lo do so.
Page 10

Independent Auditorfs Report to the Trustees of
Sandwell Communlty Caring Trust
(A Company Llmlted by Guarantee)
(continued)
Audltor's responslbllities for the audlt of the ftnanclal statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from
malerial misstatement. whether due to fraud or error, and to issue an audilorfs report that includes our opinion.
Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in accordance with
ISAS {UKI will always detect a material misslalemenl when il exists. Misslalemenls 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 mis51alements in respect of irregularities, including fraud.
The specific procedures for this engagement and the exlenl to which these are capable of detecting irregularities,
including fraud is detailed below..
We reviewed the company's Gontrol and risk managemeni procedures and p18nned our work based on our
assessment of those controls and proceduTes,-
Thls revlew included an assessm'ent of the risk of material misslatement duè to èrrors, fraud Énd management
override of controls for all material areas in the financial statements.,
We made enquiries of management and the company's lawy8rs regarding any actual or potential liligalion
andlor ¢lalms;
Financial stalements disclosures were reviewed and checked for compliance with applicable laws,.
Deiailed testing was conducted on balances and transactions including unusual items and those of indivsdual
51gnlfic8nce to the financlal statements.,
Data analyti¢s'were used In order to identify unusual or significant trends:
Communlcalions with management and those charged with governance regarding relevanl matters was
undertaken throughout the audit and on completion.
Because of the Inherenl limitations of an audit, there is 8 risk that we wlll not detect all irregularities, including those
leading to a material misslalemenl in the linancial .sl8tements or non.-compliance with regulation. This risk increases
Ihe more that compliance with a law or regulation is removed from the events and Iransaclions reflected in Ihe
financial statements, as we will be less likely lo become aware of instances of non-compliance. The risk is 81so greater
regarding irregularities occurring due to fraud rather than error. as fraud involves intentional GOn￿alMent, forgery,
collusion. omission or misrepresentation.
A further description of our responslbllities for the audlt of Ihe finan¢lal statements is located on Ihe Financial
Reporting Council's website at ￿.frC.Or9.Uk]audltorSre$ponslb1lIte5. This description fomis part of our auditor's
report.
Page11

Independent Auditor's Report to the Trustees of
Sandwell Communlty Caring Trust
(A Company Limited by Guarantee)
(continued)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's
members those mallers we are required to state to them in an auditor's 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 charltable company's members as a body. for our audit work, for this report, or for the opinions we have formed.
Davld W Farnsworth FCA (Senlor Statutory Audltor)
For and on behalf of Feltons, Statutory Auditor
8 Sovereign Court
8 Graham Street
Birmingham B13JR
Dale '.
Page 12

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
statement of financlal activities
for the year ended 31 March 2024
Restrlctsd Restrlcted
general
funds
Unr•strictsd.
funds
pen8lOn
fund
Totsl
2024
Total
2023
Notes
Income
Donations arKI legacies
Income fmm charitable'.8Ctivities.'
Residential. care.home fees
30,326.
30.326
35,854
16,154,478
16.154,478 14,198,034
Investmenl income
9,500
9,500
4,080
Total Income
16,194,304
16.194.304
14,237,968
expendlture
Charitable actlvlll8S.'
.Oporational and support¢O8t8
Other costs .
Amount pald.to SM8C
Flnanclng costs
15,792,703
{282,000)
15,510,703
14.502,283
450,000
174,127
12
235,158
235,158
Total expenditur•
16,027 861
282.000
15,745 861
15.126,410.
Net incomo1{èxpenditure) befor
transfers
166,443
282,000
448,443
1888.442>
Gross translers be￿¢en funds
Net.Incom•l(expendltur•) after
transfers
166,443
282,000
448,443
(888,442)
other recognlsed galng111099081
Actuarial gainsl{losses) on defined
benefit pension Schemes
24
(282.000)
{282:OOQ)
1,824,000
Not movèment In funds
166,443
166.443
935,558
Reconciliation of funds
Total funds brought forward
8,196,795
373,393 8.570,188
7.634,630
To.tal funds carried forward
8,363,238
373.393 8,736,631
8,570,188
.All income. and expenditure derive from continuing aclivilies.
The statement of financial aclSvities includes all galns and losses recognlsed durlng the year
Page 13

Sandwell Community Carlng TruBt
IA Company Limited'by Guarantee)
Company Number . 03286106
Balance sheet as at 31 March 2024
I Charity number:: 1086162
2024
2023
Not08
Flxed a88et8
Tangible assets
13
.9,520.085
9,520,085
Current assets
Debtors
Cash at bank and in hand
14
1,962,929
1497,826
3,460.755
2.063,734
1,313.857
3,377,591
Creditors: amounts falling
due.withln one year
15
1758,951
1621,659
Net current assetsl{Ilabllltle8)
Total assets. les$ current Ilabilitles
1..701.804
1,755.932
11.221,889
11',276,017.
CredStors'. amounts falllng due
alter more than one year
16
12,485,258)
{2,705,8291
Net assets excludlng penslon Ilablllty
8,738,831
8,570,188
Deflned benefit penslon Ilablllty
Net assets
8,736,631
8,570,188
Funds of the charlty
Rejtrlcted fund8
General fund
19
373,393
373.393
Unrestrlcted lunds
General fund
Pension fvnd
19
8.363,238
8.196,795
8.363.238
8,196..795
Total funds
8,736,631
8,570,188
These a¢￿UnIS havo been prepared In ¥ccord8n¢e.with the speclal prowsions of Part 15 of the Companles A¢t 2006 relating to
small companies.
Th•. not•s on pag•9 16 to 33. form part ol'lhese accounts.
The financi81 glalements were approv•d by the board of tnjsloes on 6 Docember 2024 and w•M ￿gned on its behjlf by.
Mrs M Hall
(Chair)
Page 14

Sandwell Community Caring Trust
(A. Company Limited by Guarantee)
Statement of cash flows
for the year ended 31 March 2024
Noles
2024
2023
Cash flow. from operating activities
22
694.706
(1,051,271)
Inte￿$t paid
Net cash flow from operating actlvltles
694,706
1.051,271
Cash flow from. investing activities
Interest received
9,500
4,080
Net cash flow from investlng actlvities
9.500
4,080
Cash flow from financlng actlvltles
Repayment of bank loans
(520,237)
(259,543)
Net cash Ilow from flnanclng actlvltS05
520,237
259.543
Nat Increase l <d•crèase} in eash and cash equlvalents
183,969
11,306,734)
Cash and cash equivalents at 1 April 2023
1,313,8.57
2,620.591
Cash and cash oqulvalents at 31 March 2024
1.497,826
1,313,857
Page 15

Sandwell Community Caring Trust
(A Company Llmited by Guarantee)
Notes to tha flnancial statements for the year ended 31 March 2024
1. Accounting policies
General Informatton
Sandwell Communlty Caring Trust is a charitable company limlted by guarantee . In the event of the charity
being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The
address of the registered office is given in the charity information on page 1 of these financial statement6.
The nature of the charity's operations and principal activities are to provide health and social care services to
older people and adults with learning and or physlcal disabilities.
1.1 Basis of'preparation
The Gharity constitutes a public benefit enb'ly as defined by FRS 102. The financial statements have been
prepared In accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their a¢counls in aGcordance with the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland Issued In October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republlc of Ireland (FRS 102), the Charities Act 2011, the Companies
Act 2006 and VK Generally Accepted Accounting Practice.
The significant accounting policies applled In the preparation of these financial statements are set out below.
These policies have been consislenlly applied lo all years presented unless othep•vlse stated.
1.2 Golng concern
The financial statements have been prepared on a golng concern basls as the trustees belleve that no
material uncertainties exist. The trustees have considered the level of funds held and the expected level of
income and expendllure for a period of 12 months from the dale of aulhorising these financial slalements. The
budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue
as a going concern.
The charity is conscious of continuing cost pTrssures across the sector and wlll, the￿rOre. continue to restilct
costs as lar as posslble whilsl seeking new incomè sources that are consistent with its charitable obJecliv8s.
The frust ￿11 also oontinue to lobby local authontie5 ￿gardIng a sustainable level of carn fees.
1.3 Funds
Unrestricted funds are available for use at the discretion of the trustees In lurtheran¢e of the.general
objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with spe¢lfi¢ reslri¢tions imposed by donors or
which have been raised by the charity for particular purposes. The cost of raising and adminislering such
funds are charged against the specific fund. The.aim and use of each restricted fund is set out in the notes to
the financlal statements.
Page 16

Sandwell Community Caring Trust
IA Company Limited by Guarantee)
Note8 to the financial statements for the year ended 31 March 2024 (continued)
1. Accounting policies (continued)
1.4 Income rocognition
All incorning resources are Included in the Statement of Financial Activities (SOFA) when the charlty is legally
entitled to the income after any performance conditions have been met, the amount can be measured reliably
.and it is probable that the income will be received.
Grants recelvablo
Grants are included in the Statement of Flnancial Activitles on a recelvable basis. The balance of
income received for specific purposes bul not expended during the period is 'shown in the relevant
funds on the balance sheet. Where income is received in advance of enlillemenl of receipt its
recognltion is deferred and included in creditors as deferred income. Where entitlement occurs.
before Incomé Is recelved, the income Is accrued.
Donatlon$
Donations are recognised on a recelvable basls where there Is certalnty of recelpt and the amount
can be reliably measured. If there are conditions attached lo the donation and this requires a leve5 of
perfomance before entitlement can be. obtained then income is deferred until those conditions are
fully met or the fulfilment of those conditions is within the control of the charity and it is probable that
they wlll be ftjlfilled.
Interest recelvable
Interest on funds held on deposlt Is included when receivable and the amount can be measured
reliably by the charity.. thls is normally upon notlflcation of the interest paid or payable by the bank.
Other Income
Other income, Includlng the hire ol facS1ilies, Is recognlsed in the period il Is receivable and to the
extent the goods have been provided or on completion of the service.
1.5 Expendlture recognltlon
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the.category. Expenditure is recognised where there is a le9al or constructive obligation lo
make paymenls to third parties, It Is probable that the settlement will be required and the amount of the
obligation can be measured reliably.
Page 17

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 31 March 2024 (continued)
1. Accounting policles Icontlnued)
1.5 Expondlture recognltlon (continued)
Expenditure Is categorised under the following headings..
Charitable activities
These are costs Incurred in activities undertaken to further the purposes. of the charlty and thelr
associated support costs.
Governanco costs
These Include the costs 8ttribulable to the trust's compllance wlth constltulional and slatutory
requirements, including strategic management,'and trustees, meetings and reimbursed expenses.
Irrecoverable VAT Is charged as an expense agalnsl the activlty for whlch expendlture arose.
1.6 Allocatlon of support costs
Support costs are those that assist Ihe work of Ihe charity but do not directly represent charitable activities
and include office ¢osts. governance costs and administrative payroll costs. Where support costs cannot be
directly attributed to particular headings they have been allocated to cost of raising funds'and expenditure on
charitable activlties. The bases on which support costs have been allocated are set out In nolo 8.
1.7 Tangible fjxed asset8
Tangible fixed assets are stated at cost (or deemed cost) or valuatlon less accumulaled depreciation and
accumulated impairment losses. Cost Includes cost$ direGlly allributablè to making the asset capable .of
operating as intended.
Land and buildings. and long leasehold'are not depreciated.
At each reporting date the Charity review5 the carrying amounts of Its tanglble assets to determine whether
there is any indication thal those assets have suffered an impairment loss. If any such Indicalion.existS. the
recoverable amount of the asset Is estimated in order to determine the exlent of the impalrment loss. if any.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid Investment5 Wlth a short maturity of three
monlhs or less from the date of acquisition or opening of the deposit or similar acGDunt.
Page 18

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 31 March 2024 (continued)
1. Accountlng policies (continued)
1.9 Flnanclal instrumènts
The charity has elected to apply the provlsions of Section 11 'Basic Financlal Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all its financial instruments.
Financial instruments are recognised in the Charitys balance sheet when the Charity becomes party to the
contractual provisions of. ihe instrument.
Financial assets .and liabilities are offset, with the net amounts presented in trtre financial stalemenls, when
there is a legally enforceable right to set off the recognised amounts and thera Is an Intention to settle on a net
basls or to'realise the asset and settle the liability simultaneously.
Bas￿ financial 8S$8ts
Baslc financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effecllve interest rate method unless the arrangement constitutes a financing IransaGts'on, where the
transaction 15 measured at the present value of the fulure receipts discounted al a market rate of interest.
Financial assets class*fied as recelvable wlthin one year are not amortlsed.
Basio financi81 liabilities
Baslc financlal liabilitles, including creditors and bank loans are irsllially recognlsed al IransaGtlon prlce unless
the arrangement constitutes a finanang .transaction, where the debt. instrument is measured at" the present
value of the future payments discounted at a market rale of Interest. Flnancial liablllties classlfied as payable
thin one year are not amortlsed.
Debt instruments are subsequently carried at amortised cost. using the effeclSve interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabililies. Trade creditors are recognlsed initially at
transaction price and subsequently measured at,amort15ed cost using the effective interest method.
D8￿¢09n￿10n of financial li8biliti8S
Fin8ncial liabilities are derecognised when the Charit1$. contractual obligatlons expire or are. discharged or
,cancelled.
1.10 Operatlng loasos
Rentals payable under operating leases are charged to the SOFA on a straight line basis over the period of
the lease.
Page 19

Sandwell Community Caring Trust
IA Company Limited by Guarantee)
Notes to the financlal statements for the year ended 31 March 2024 {continued)
1. Accountlng.policies (continued)
1.11 Taxat5on
The charity is an exempt charity within the meaning of schedule 3 of the Charitses A¢1 2011 and is considered
lo pass the tests sel out In Paragraph 1 Schedule 6 Finance.Acl 2010 and theiefore it meets the definitlon of
charitable company for UK corporation tax purposes.
1.12 Penslon benefits
Ouring the year the Trust operated LGPS defined benefit penslon schemes and a defined contribution
pension scheme.
Payments lo defined contribution retirement benellt schemes are charged as. an expense as they fall due.
Nellher of the defined benefit schemes admlt new rnember5. New memb?r3 01 staff are admltted Into the
defined contribution scheme on their employment with the Charity.
The cost of providing benefits under defined benefil plans is determined separately for each plan using the
projected unit eredlt method and Is based on acluarlal advice. Actuarial valuations are obtained at least
triennially and are updated at each balance sheet date.
The change In the nel defined benefil Ilakn'llly arislng from employee service durlng the year is reco9nlsed a$
an employee cost, The cost of plan introductlons. benefit changes, settlements and curtailments are
recognised as incurred.
The net interest element is determlned by multiplying the net defined benefft Ilability by the discount rate.
taking into account any changes in the net defined benefit liability during the perlod as a result of contribution
and benefit payments. The nel interest IS fecognised in Incomel(expenditure) for the year.
Remeasurement changes comprise acluaiial gain and losses, the effect of the agset celllng and the return on
the net defined benefit liability excluding amounts included in net interest. These are recognised immediately
In other recognlsed galns and losse$ In the period in which they occur and are not reclasslfied to
Incomellexpenditure) in subsequent periods.
The net defined benefit pension asset or liability In the balance sheet comprlses the total for each plan of the
P￿sent value of the defined benefit obligation (using a disGount rate on high quality corporate bonds) less the
fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on markel
price infomiation, and in the case of quoted securlties is Ihe publlshed bid price. The value of a net pension
benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed
refunds from the s¢heme.
Terrnination benefits are employee benefits provided in exchange for the termination of an employee's
involvement in the Charlty. Redundancy costs are recognised immediately once the Charity Is demonstrably
c¢)mmitted to terminate employment.
Page 20

Sandwell Community Carlng Trust
(A Company Llmited by Guarantee)
Notes to the flnanclal statements for the year ended 31 March 2024 (continued)
1. Accounting policies (contlnued)
1.13 Employee benefits.
The Cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Temination payments are recognised immediately as an expense when the Charity is demonslfably
committed lo terminate th2 employment of an employee or to provide termination benefits.
2. Crltlcal accounting estlmates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experlence and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are revlewed on an ongoing basis. Revisions to accounting
estlmales are recognisèd in .Ihe period in'which the e511mate is revised where the revlsion affects only that
period, or in the perlod ol the revlsion and future perlods where the revision affects both current and future
periods.
Crltlcal Judgements
Recoverabilty of trnde debtors
A provislon for doubrful debtors from operallons is sel up when the likellhood of recovering the debt Is
diminished. The level of provision will be based on any currenl repayment plan entered inlo and which Is
being adhered to by the debtor, together with an estimate of the likelihood of the amounts being fully
recovered.
K•y sources of estimation uncertainty
Defined benefil pension scheme
The charity has an obligation to pay pension benefits to certain employees. The cost of these benefit5 and the
present value of the obligation depend on a number of factors including . life expectancy, asset valuations and
the discount rate on corporate bonds. Management estimates these factors In determining the net penslon
obligation in the balance.sheet. The assumptions reflect'historical experience and cutrent trends. See note
24 for the disclosures relating to the defined benefit scheme.
Page 21

Sandwell Communlty Carlng Trust
(A Company Llrnited by Guarantee)
Notes to the flnancial statem8nts.for the year ended 31 March 2024 Icontinued)
3. Prior year Statement of Financial Activitles (year end 31 March 20231
RgStrict•d
pensloD
lund
Restricted
general
funds
Unrestrlcted
fund9
Total
2023
Income
Donations and legacies
Income from chaiilable activities
.Inveslmenl income
Total income
35.854
14.198,034
4.080
14,237,968
35,854
14.198,034
4,080
14,237.968
Expendlture
Charitable acliviti8s
Amount paid lo SMBC in the year
other
Total expendlture,
14,291,283
450,000
174,127
14,915 410
21.1.000
14.502,283
450,000
174,127
15,126,410
211000
Net Incomol{expÉndlture) béfore transfern
<677,442)
1211.000)
1888,4421
Actuarial galn on dellned benefit pension schemes
1,824,000
1.824,000
Net movement In funds
<67.7,442)
1,613,000
935,558
Reconclliation of funds
Total funds brought foward
8,874,237
(1,813.0001
373,393
7',634,630
Total lunds carrled forward
8,196,795
373,393
8.570.188
4. Donations and legaeies
Unrestricted Restricted
funds
funds
Total
2024
Total
2023
Donations and gifts
Covid-19 govemment support
Grants
19,187
19.187
24,000
11,854
11.139
30,326
11,139
30,326
35.854
General donations and income for digilalisation project.
Page 22

Sandwell Community Caring Trust
IA Company Limited by Guarantee)
Notes to the financlal statements for the year ended 31 March 2024 (Gontinued)
5. Income from charltsble actlvltles
R¢¥trlctod
pension
fund
Restricted
ggn&ral
funds
Unrestrlcted
funds
Total
2024
Total
2023
Rasldenlial care horne fees
1.6,154,478
16,154,478
14.,198.034
16 154,4.78
16.154,478
14 198 034
6. Intrestment Income
Unrestricted Restricted
funds
funds
Tolal
2024
Total
2023
Deposit account int8rest
9,500
9,500
4,080
9.500
9.500
4,080
7. Exp•ndlture on charitable activllles
Resldentlal
and day care.
8•r4ice8
Activity
Activity
Totsl
2024
Totsl
2023
OperatSonal and gUPPOrt ¢osts
Staff costs
Heal and11ght
Rent, rates and insurance
Telecommunications
Other staff costs
Motor and travel
Repairs, renewals and. equlpment hlre
Cleanlng, waste and pest control
Other office cosls and sessionals
Prfntlng, postage and.stalionery
Provisions
Support costs {see note 7)
Governance costs (see note 7)
10,633,340
174,581
1,003.611
7,044
21,646
60,450
539,707
142.648
84,880
6.187
364,159
2,428,292
44,158
10,633.340
174.581
1.003,611
7,044
21.646
60,450
539,707
142,648
84,880
6,187
364,159
2,428,292
44,.158
9,986,122
164,295
1,044,938
10,231
44,614
92,828
544,673
138,756
84,127
5,582
250,494
2,070,777
64,846
15 510,703
15,510,703
14,502,283
Total expenditure on charitable activities was £15,510,703 (2023 - £14,502,283) of which £15,510,703 12023
£14,502,283) was unre51ricted and £nil {2023- £nil) was restricted.
Page 23

Sandwell Community Caring Trust
IA Company Limited by Guarantee)
Notes to the financlal statements for the year ended 31 March 2024 {contlnued)
8. Analysis of gupport and governance costs
Basis of
allocation
General
8UPPOrt
Governance
function
Totsl
2024
Total
2023
Staff Gosls
Heat and light
R'ent, rales and insurance
Telecommunications
Other staff costs
Motor and travel
Repairs, renewals and equlpmenl
hire
Cleanlng, waste and pest control
Other office costs and sessionals
Prinling, postage and slalionery
Provisions
Audit and accoUnlancy,Se￿lc8s
Legal and other professional
Staff time
Usage
Usage
Usa9e
Usage
Usage
1,111,220
10.694
368.929
38,208
182.337
33,357
1,111,220
10,694
366,929
38,208
J82,337
33.357
1.158,204
8,786
325,685
39,570
172,990
45,062
Usage.
Usage
Usage
Usage
Usage
Governance
Govemance
1 $7,720
81,134
417,235
24,011
5.447.
157,720
81,134
417,235
24.011
5,447
40,110
110,700
1,712
177,578
29.971
519
47,880
16,966
2,135.623
40,110
2 428 292
44.158
2,472,450
9. Net Incomellexpondlturel for the year
Nel Income l {expenditure} Is slated after charg.lng I Icredltlng):
Totsl
2024
Total
2023
Operatlng lease rentals
Office equipment
Premises
Bank inlerest payable
Auditors. remuneration
108,222
1,066,246
75,866
1,111.625
47,880
The audilors rernunerallon amounts to an audit fee of £15,000 (2023 - £32,880) and other services of £nll {2023 -
£15.000}.
10. Trustees and key management personnel remuneratlon and expenses
A Coley ￿CeIVed remuneratlon in the year of £98.00012023 - G Walker, £124.000) paid lo hlm for hls role as
Chief Executive and not.as a trustee of lh& charity.
No trustee was reimbursed expenses during the year.{2023- £nil).
The Trust considers its key management personnel compris8 of Chief Executive Officer. The total amount.. of
employee benefits received by key management personnel was £98'.000 (2023- £244.105).
Page 24

Sandwell Community Carlng Trust
(A Company Limited by Guaranteel
Notes to the financial statements for the year ended 31 March 2024 {continuedl
11. Analysis of Staff costs and numbets
a) Staff costs .
Total
2024
Total
2023
Wages and salaries
Social security costs
Other penslon cosls
10,727,813
891.151
111,828
11,730.792
13.768
11,744,560
9,660,751
845,978
620,134
11.126.863
17,463
11,144,326
Severance payments
Included In other pension costs above is an adjuslmenl of £282,000 (2023 £218.000) r81ating lo the Incrèasèd
pension costs as a result of the 2024 P.ension Expense Calculation in respect of pension beneflts provided by the
Local Government Pension Scheme..
The amounts abova relate to the shortlall in contrlbutions as advlsed by the Actuary of £31,000 (2023 - £169,505),
interest Gosls advised by the Adtuary of £313,000 {2023 - £45,000) and adminislration costs advised by the
.Acluary of £nil (2023- £3,495).
b) Staff numbers .
The average monthly number of employees and full
time equivalents during the year was as follows..
2024
Number
2023
Number
Care
Finance and administration
475
13
488
448
13
461
c) Higher paid staff
The number of employees whose employee benefits (excluding
employer pension costs) exceeded £80,000 was .'
2022123
Nurnber
2021122
Number
£70.001- £80,000
£90.000- £100,000
£120,001- £130,000
12. Other costs
T¢)tal
2024
Total
2023
FlnanrR costs
235,158
174.127
Page 25

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 31 March,2024 Icontlnued>
13. Tangible fixed.assets
Land and
bulldlngs
Long
leasehold
Office
equlpment
Total
Cost
Al 1 April 2023 and 31 March 2024
8,969,945
550.140.
9.520,085
Depreclatlon
At 1 April 2023 and 31 March 2024
Net book values
At 31 March 2024
8,969 945
550.140
9,520,085
Al 31 March 2023
8 969 945
550,140
9,520,085
Freehold land and buildings with a carrying amount of £7.467,081 12023 - £7,467,081) have been pledged to
secure borrowing5 of the 'Charily. The Charlty 'ls not allowed to pledge these assets as "s8curiiy for other
borrowings or lo sell them to another entity.
Barclays Bank plc hold a debenture wllh a flxed and floallng charge over the undertaklng.
Depreclation on Ireehold property 19 not provided as the twstees feel that slgnific8nl replacement and
maintenance works are.carried out on an annual" basis and therelore there is no material change to the nel book
value al the yoar end.
14. Debtors
Totsl
2024
Total
2023
Debtors from operations
Prepayments and accrued income
Other debtors
1,654.169
260,837
47,923
1,874,442
75,056
114,236
1.962.929
2,063.734
Page 26

Sandwell Community Caring Trust
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 31 March 2024 (continued)
1S. Creditors - amounts falling due within one year
Total
2024
Total
2023
Bank loans
Creditors from operations
Taxation and social"security
Accruals and deferred Income
Olher credStors
220,572
305,875
199,307
975,110
58,087
1,758,951
520,238
162,895
200,747
713,075
24,704
1,621,659
Daferred Income
Deferred Income al 1 April 2023
Resources deferred in the year
Amounts released from previous years
Deferred income at 31 March 2024
186,223
127,866
186,223
127,866
222,566
186,223
222.566
186,223
At the balance sheet date the charity was holding funds received in advance for a digilalisation project and
residential care fees.
16. Creditors - amounts fallln'g'due after more than one year
Total
2024
Total
2023
Bank loans
2,485.258
2,705,829
17. Loans and overdrofts
Totsl
2024
Total
2023
Bank loans
2.705.830
3.226.067
Payable wilhln one year
Payable after more.than" one year
220,572
2.485.258
2,705.830
520,238
2.705.829
3.226,067
The long term loans are secured by fixed charges,ag8ins1 the properties lo which they relale.
'The interest rales on the loans vary from 39A to 7.5% and repayment terms vary from 2023 to 2038.
Page 27

Sandwell Community Caring Trust
(A Company Limlted by Guarantee)
Notes to the financial statements for the year ended 31 March 2024 (continued
18. Commitments under operating leases
Al.31 March 2024 the charity was comrnitied lo
making the followlng payments under non-
cancellable operating leases
Total
2024
Total
2023
Within one year
Wilhin fvjo to five years Inclusive
1n.ovgr five years
1,332,217
4,788.621
18.102,072
24.222.910
1.305,111
4.402.172
15,942,782
21,650,065
19. Analysls of funds
8alanc• at
1 Aprll
2023
Balance at
31 March
2024
Incomlng
rèsourees
Resources
èxpended
Transfers
Regtrieted funds.
Alsop House
Pension
373,393
373,393
282.000
282,000
282.000
(282.000)
373,393
373.393
Unre8trlcted funds
General fund
8 196,795
8,196.795
16,194,304
16,194.304
16.027.861
16,027.881
8,363 238
8.363,238
Total funds
8,570,188
15,745,861
16,194.304 ￿.
282,000
8,736.631
Nam• olfund
De8crSptlon, nature and purpos• of fund
Rèstrl¢ted general fund
Money glven to the charity where the donor requlres that a grant or donallon
be spent for a specific project.
Fund5 relating lo Alsop House wore recelved from the Lottery.'Communlly
Fund and 9211A of the asset value would be repayable to BIG In the event of
the disposal of the asset prior lo 1 February 2025. Th& remainder of the
funds are not repayable.
Unrestricted géneral fund.
"The free reserve5 of the .charity whlch are not designated lor partlcular
purposes.
Page 28

Sandwell Community Carlng Trust
IA Company Limited by Guarantee)
Notes to the financlal statements for the year ended 31 March 2024 (continued)
20. Analysls of net ass•ts between funds
Fund balances at 31 March 2024
are represented by..
Restricted
pension
fund
Restricted
general
funds
Unrestrlcted
funds
Total
funds
Tangible flxed assets
c.urrent assets
Current liabilities
Long term liabS11118s
Total net assets
9,146,692
3,460,755
(1,758,951)
2.485.258
8 363.238
373.393
9,520,D85
3,460,755
(1,758,951)
2,485.258
8 736,631
373,393
Comparative Infomation in respect
of the preceding period is as follows
Restricted
penslon
nd
Restricted
general
funds
Total
Unrestrlcted
fund8
funds
Tanglbl8 fixed assets
Current assets
Current liabilities
Long term liabililles
Tolal net assets
9,146,692
3,377,591
(1,621,659)
2.705 829
8,196.795
373.393
9,520,085
3.377,591
{1.621.659)
,705,829
8,570,188
373.393
21. Flnanclol commltments¥ guarantees and conllngent Ilabllltle$
In the 2017118 financial year SCCT entered into a lease with Real E51ale Investors PLC and Sandwell Valley
School (SVS) to a¢1 as the guarantor of the rent should the tenant ISVS) fall to pay. The lease runs fiom 29
September 2016 to 28 September 2041 with a rental charge of £120,000 plus VAT per annum.
22. Reconclliation of net Incomel(expendlture) to net cash Ilow from operatlng actlvltles
Total
2024
Totsl
2023
Nel incomel(exponditure) for the y88r
Interest receivable
Defined benefit pension schem& cost less contributions payable {note 24)
Defined benefit pension scheme finance cosU(income) (note 24)
Defined benefit pension scheme unfunded benefits paid
(Increase) I decrease in debtors
Increase l (decrease) in creditors
448.443
(9.500)
39,000
(313,000)
(8,000)
100,805
436.958
(888,442)
{4,080)
166,000
45,000
(310,190)
{59,559}
Net cash flow'from operating activities
694,706
1,051.271
Page 29

Sandwell Community Caring Trust
(A Company Limlted by Guarantee)
Notes to the financlal statements lor the year ended 31 March 20241contlnued
23. Analysis of changes in net {debtlffunds
At1
April 2023
Cash
flows
At31
March 2024
Cash al bank and In hand
1,313,857
183,989
1,497,826
Loans lalling due within one year
Loans falling due after more than one year
(3,017.733)
2,797,161
(220,572)
(208,334) (2.2.76.924) (2,485,258)
{1,912,2101
704,206
11,208.004
24. Retlrement benefit schemes
Defined contribution schemes
The Charity operates a defined conlilbulion pension scheme for all qualrfying employees. The assets of the
scheme are held separately from those of the charity in an independenlly admln161ered fund.
The charge lo profil or loss In resp8¢1 of defined contribution schemes was £2S7.936 {2023 - £280,134).
Dollned beneflt schemeB
The charity operates a defined benefit penslon plan lof qualifylng employeos providlng beneflls based upon final
pensionable pay. The pension plan is funded by the payment of contributions and assets of the plan are held in a
separately administered fund.
The most recent comprehensive acluariol valuallon of penslon plan assets and the present value of the defined
benefit obligation were carried out al 31 March 2019.
The fair value of the pension assets al 31 March 2024 are in excess of the present value of'the defined benefit
obligation ai thal dale. Thls give5 rise lo a surplus of £8,423,000 (2023 - £6,602.000).
The surplus Is iecognised in the financial statements only to the extent that the Trusl can ieeover that surplus.
either through a reduction In fulufe contributions or through a refund to the Charity.
The Charity is not able to determine thal future contributions wll be reduced nor wlll it receive a refund in the
foreseeable future. Therefore the surplus of £8,423,000 {2023 - £6,602,000) is not recognised as an asset at 31
March 2024. An adjustment has bEen made Ihrough the Statement of Financial Activities to r8flect this..
Prlncipal actuarial assumptions
At31
At31
March 2024 March 2023
3.7.8Oh
4.75%
2.78Q
3.009
4.839A
4.00%
Discount rate for scheme liabilities
Rate of increase for pensions in payment l inflation
Rale of increase In salarie5
Page 30

Sandwell Communlty Carlng Trust
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 31 March 2024 {contlnued)
24. Retirement benetit schemes (eontlnuedl
Mortality assumptions
The.assumed life expectations on retlremenl age 65 are..
At31
At31
March 2024 March 2023
Retiring today
Males
Females
Retiring in 20 years
Males
Females
20.3
22.7
21.7
22.7
19.5
24.4
20.0
24.9
Amounts r•cognl8ed In the 81alem•nt ofllnanclal actlvltl•s
Total
2024
Total
2023
Current service co$l'
Interest InGome
Interest cost
179,000
11,121,000)
808,000
1134,0001
315,000
{641,000)
686,000
360,000
Amounts taken lo other comprehensive. income
Total
2024
Total
2023
Actual relurn on.scheme assets
Interest income
Retum on scheme assels
Actuarial change5 relatèd to scheme assets
129,000
641.000
770,000
1.824,00.0
1121,000
1,121.000
282,000
The actual return on scheme assets was 9.70•h (2023.. 59A)
The amounts Included on the balance sheet arising from the charlty.s obligalions In
respect of defined benefit schemes are Ss follows..
Totsl
2024
Total
2023
Present value of defined benefft obligallons
Fair value of plan assets
Deflclt In $¢heme
25,690,000
25.690.000
23.793.000
23,793.000
Changes in the present value of defined benefit obligations
were as follows .
2023124
202W23
At 1 Aprll 2023
Current service cost
Benefits paid
Unfunded benefits paid
'Employee conliibulions
Aoluarial gainsl(losse5)
Interest cost
Adjuslmenl for un￿cognISed surplLts in.scheme
At31 March 2024
23,793,000
179,000
(590,000)
(8.000)
54,000
49,000
(367,000) (8,822,000)
808,000
686,000
1,821000
6,602,000
25,690,000
23,793,000
25,566.000
315,000
(603,000)
Page 31

Sandwell Community Caring Trust
(A Company Llmited by Guarantee)
Notes to the financlal statements for the year ended 31 March 2024 {continued)
24. Ratlrement benefit schemes (continued)
The deflned benefit obligations arise from plans funded as'follows
Total
2023124
Totsl
2022123
Wholly unfunded obligations
Wholly or partly funded obligatlons
Adjustment for unrecognised surplus in schemg
89,000
17.178,000
8,423,000
25,690,000
90,000
17,101.000
6,602,000
23.793.000.
Changes in the fair value of Trust'$ share of schem¢ assets
were as follow$ .
2023124
2022123
Al l Aprll 2023
Interest income
Return on assets less interest
Benefits paid net of Iransfers in
Employer contributions
Employee contributions
Other
At 31 March 2024
23,793,000 23,953,000
1,121,000
641,000
1,172.000
(770.000)
(590,0001
{603.000>
140,000
142,000
54,000
56.000
374,000
23,793.000
25,690,000
The trust's share of the assets in the scheme was .
31 P41arch
2024
31 March
2023
Equities
Property
Bonds
Cash and other liquld assets
Totsl market value of assets
15.670,900
7.193,200
1,541,400
1.284.500
25,690 000
16,179,240
1,665,510
5,234,460
713,790
23 793,000
The l818St asset split that has bèen provided allows lor index relums, where required. on each asset category lo
determine the split of a55els.
25. Related party transa¢tlons
The followng. related party transactions look place during the period .'
2024
2023
Sandwell Valley School Limited
Company in which M Hall, A Coley and G Walker
are direclors
Income received from related party during the year
Expenditure lo relaled company during the year
Amount due froml(to) related company al year and
'7.920
2.584
14.368
Page 32

Sandwell Community Caring Trust
{A Company Limited by Guarantee)
Notes. to the financial statements for the year ended 31 Ma￿h 2024 {conlinuedl
25. Rolated party transactlons l¢ontlnuedl
2024
2023
Lymph Care UK
Company in which G Walker is 8 memb8r ofthe
board
In¢ome received from related paty during the year
Amount du? froml{lo) related company at year end
3.870
4.245
2.000
250
26. Conllngent Ilablllty
The Trust is currently disputing a dilapidations liability of £158,989 claimed by its former landlord. A piovislon has
been made In these accounts for any potenti21 liability arising.
Page 33