DEAFWAY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charily registration number 1089918 Company registration number 04243198 (England and Wales) L)
DEAFWAY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B S Donelly Mr J J Ward OBE Mrs C A Cuming Mrs P Wynne Mrs V L Hall Ms L Davidson Dr L Barnes Miss K Milnes (Appointed 18 November 2024) Key management personnel Tesresa Dawson Maureen Donelly Chief executive officer Depuly CEO and Finance manager Human resources manager- Left September 2023 Human resources manager- Slarted Augusl 2023 Samantha Jones Roy (Paddy) Wiseman Charity number (England and Wal881 1089918 Company number 04243198 Reglstered offlce Brockholes Brow Preston Lancashire PR15BB Audltor Champion Accounlanls LLP 7-9 Slalion Road Heskelh Bank Preslon Lancashire PR4 6SN (i
DEAFWAY CONTENTS Page Trustees, report Stalemenl of trustees, responsibilities 10 Independent auditorfs report Statement of financial aclivilies 14-15 Balance sheet 16 Slatemenl of cash flows 17 Notes to Ihe financial statements 18-32
DEAFWAY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees presenl their annual report and financial statements for the year ended 31 March 2025. The financial stalemenls have been prepared in accordance wilh the accounting policies set out in note 1 to Ihe financial slalemenls and comply with the charity's governing documenl, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Piaclice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" ()
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities DeaaY Is established for- ..Ihe relief of people who are Dldeav (incorporating Deaft)lind. deafened and hard of hearing) or who ulilise a visual language (whether Ihal be British Sign Language. Sign Supported English or home language). Firstly for Ihose resident in Lancashire and secondly those resident in Ihe rest of the United Kingdom and elsewhere. in particular by assisting and supporting their equal aCsS lo and participation in all aspecls of sociell. Pul another way, DeaaY exists lo do all Ihat we can lo ensure that Dldeaf (incorporating Deafblind, deafened and hard of hearing) people gel the same opporiunilies in all aspects of life that their hearing peers do. Our base is, and always has been, in Preston and Lancaster. Lancashire. However, our work has a national focus and reach. Deafway is therefore a local and national charity. DeaaY has a commilment lo ensure that al the core of all of our work is an understanding of and respect for Deaf culture and heritage, BSL (British Sign Language) and the other forms of visual communication. This expresses our belief in the vital importance of sign language and Deaf culture lo Deaf people across the world.. that Deaf Heritage should be preserved. shared and celebrated and that all of these should inform our provision of Care lo those Deaf people who are in need of it. There Continues lo be a very real need for all of the work which we undertake, locally and nationally.11 Is unfortunately slill the case Ihal the needs of the majority of Dldeaf people across the world and of many Dldeaf people in the UK are ignored or misunderstood with disaslrous consequences for those Dldeaf people. The Deaf person in the UK who needs a specialisl Deal residenlial placemenl because of their Aulislic Spectrum Disorder, mental health, or olher disabililies plad inappropriately in a hearing selling with no Deaf peer group and wilh slaff who have at best a smaltering of sign language. Given the necessary financial resources we could do so much more both by promoting and campaigning for real understanding of Ihe relevanl issues and by providing real life-changing SeiceS to so many more people UK wide. In the UK, one of our aims is Ihal.. 'Every Deaf person in need of Residential Care or Support will have the real choice of receiving this in a Deaf environmenl., Phllosophy: Al the centre of everything we do is a positive view of sign language. Deaf Culture and the Deaf community. We believe passionately that every Dldeaf child or adult, wherever they live in the world. should have a right of access to sign language (as well as acSS lo the wrillen and spoken languages of their country and to Ihe hearing community) - and we know Ihat an untold amount of damage has been, and continues to be, caused lo the lives of Dldeaf people around the world by Governments and exlernal professionals lack of underslanding and knowledge in this area. Allhough BSL has now been recognised as ils own language by the UK Government. This damage ranges from social isolation, lack of equal a¢sS and needing-lo-be-improved service provision (which does not lake into account cullural and linguistic needs) in the UK - resulting in Dldeaf children being denied that most important defining characteristic of being human., possession and fluent use of a language (in this case a signed language).
DEAFWAY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Al DeaaY we believe that these situations should be reinford wilh promotion of language, campaigning, guidance and the positive sharing of knowledge. We also believe strongly that Deaf cullure and Ihe sign languages of Ihe world have so much that is positive to contribute lo society in general - and that they should therefore be celebrated and shared in all of Ihe ways that the healing cultures and the spoken languages of the world are. 'We have followed the convention of using an uppercase 'D' in the word In the Deaf to Indlcate 'CulturalSy Deaf and a lower case'd. to slmply indicate hearing loss. Public b8nefil Publlc bènefit We have referred lo the guidance in the Charily Commlssion's general guidan on public benefit when reviewing our objeclives and activities and in planning our future aclivilies. In particular the liuslees consider how planned aclivilies, Ihiough the use of our funds, will contribute to the aims and objeclives we have sel, and we are satisfied that the crileiia for public benefit are comprehensively achieved. () AGlivities Achlevement and performance Achlevements durlng thè year The aclivilies that we have carried out during the year to meel our objectives and to carry out our aims for public benefit. During the year we have :_ Care and Support Sèrvlces Continued to provide long term specialist residential care. shorter term respite care and other vital suppori services lo Deaf people with a range of complex needs which mean that they cannol currently Ilve independently in Ihe communily. Provided residenlial care for a number of Deaf people who require a significantly higher level of slaffing due to their more complex and'challenging, needs. Continued lo maintain the accommodation we provide for our residents to Ihe high standards they deserve and lo improve and refurbish this on an ongoing basis. Continued lo provide our residents with a range of social activities and independent living skills training Conlinued lo challenge commissioners aboul inappropriate plaMentS for Deaf people in mainslream fesidenlial homes where they are isolated wilh no access to shared language whl¢h is a breach of their human rights. We have continued lo address Ihe level of funding received for many long-term residents which is below the true cost of care. Most are now paying increased fees within an acceptable range of our new residential fee rates for all new admissions. Ouring this financial year we have received 3 new permanent admissions into our residential setvi and 5 people have been admilled for short term placements. Extensive training has been commissioned and delivered to staff exceeding CQC largets. The service is fully staffed wilh people in permanent conlracts and Ihe numbers employed have increased to 80 reflecting increased grovAh and expansion. Minimal agency is commissioned only when shifts cannot be covered by our bank staff. There are approximately 20 bank staff.
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Cultural Services and Facilities Continued ta provide premises for Deaf people to meet. The Deaf communily meet regularly, allending coffee afternoons and Deaf Club each week. Continued lo provide premises for Deaf people lo meel in Lancaster. We have delivered a number of social events and information workshops Regular BSL level 1 and 2 courses. pre level 1 and DeafAwareness Courses have been delivered Ihroughout the year. We have established a network of volunleers and delivered training Positive conneclions have been eslablished wilh a number of Deaf and generic organisalions locally and nationally which have created new opporlunilies for collaboration. The Community Hub was refurbished and reception moved to the entrance of Ihe hub creating a more welcoming environment. Deaf art and historical memorabilia are on display. - A new therapy room has been created within this building to provide confidenlial space for the Deaf community to receive support Irom OeafAdvocales employed by DEN who we have been working in partnership with. The Community Hub has also been hired by external organisalions for evenls creating a new revenue stream whi¢h we will conlinue to expand. () Slgn Language and Deaf Awareness Tralnlng We have maintained our policy Ihal all DeaaY staff (unless they are already lluent in BSL), will undertake a nationally recognised BSL Level 1 and Level 2 course in work lime. Provided Deaf Awareness Training for exisling slaff and full Iraining for new slaff. Continued to provide BSL and Deaf Awareness training to external individuals and organisalion. - All internal training can be accessed by Trustees. L,)
DEAFWAY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal rèview Performance The statement of financial activities for Ihe year is sel out on page 15. The charity has nel outgoing resources this year of £277,017 (2024: nel outgoing resources of £82.942). The realised movement between the funds is summarised below: General funds Desi funds naled Reslricted funds Total funds Total income Total expenditure Gainsl{losses) investments Gainl(losses) revaluations Transfers 2.839.484 (2,876,107 7.146 221.244 25,948 (59,083 2,872,578 (3,156,434) () on 15,399 8,560 6.839 on 57,436 57.436 Nel lexpendilure) incomel 36.623 (141,263 99,131 277,017 Flxed assets The fixed assels are all used for direct charilable purposes. The movements in fixed assels during the year are shown in note 14 to the accounts. A professlonal valuation of Ihe property al Brockholes Brow, Pieslon, was undertaken during the year by Garside Waddingham, Chartered Suryeyors. The valuation for reinslalement purposes and insured value is £3.500.000. The property is shown in the accounls al ils open markel valuation of £650,000 valued by Gaiside Waddingham, Chartered Surveyors, in May 2023. A valualion of Ihe property in Lancaster was also undertaken at the same lime, this is shown in the accounts at ils open market value of £195,000. Investment performance At 31 March 2025 investments held had a market value of £238,091. Details are shown in note 15 to the accounts. Investment pollcy and objectives Under Ihe Trustees Act 2000, the trustees have the same full and unrestricted powers of investing and transposing investments as if they were beneficially enlilled Ihereto. Current inveslmenls held are invested through Charities Official Inveslmenl Fund and an inveslmenl portfolio for Ihe Richard Bannister Trust.
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reserves policy The Iruslees review the charity's requirements for reserves annually. in the lighl of the major risks facing Ihe charity. The trustees consider that in order to ensure the continuous provision of the charily's services. they are required to maintain a contingency reserve equivalent to Ihree months running cosls. Al the year end this resee, which is shown as general funds on the accounts, stood al £573,817 which represents 2.4 months unrestricted direct charilable expendilure. Employment policy The Charity's policy is lo promote equalily of opportunily lo all in employmenl and the selection process Irrespective of their gender, race, elhnic origin. disability. age. nalionalily, sexuality, marital status and social class. We oppose all forms of unlawful and unfair discrimination. c) All employees and volunteers will be treated fairly and equally. Selection for employment, promotion. training and any olher benefits will be on the basis of aplilude and ability. All employees will be helped and encouraged to further develop their full polenlial through comprehensive training, support, formal supervision and appraisal. The talents and the resources of the workforce will be fvlly ulilised to maximise the efficiency of Ihe Organisallon.
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods At the time of wriling this, in addition to the above. we have:_ Com leted DeaaY residential care seNice was reassessed in 2024 and a new report published in October with a rating of'GOOD'. The new bedrooms in house 6 have been completed. These 4 bedrooms and silting area are fully adapted and accessible. These have created more ground floor capacity which is in high demand. DeaaY have re established a strong link with the Lancashire Deaf Community and we continue lo SLtpporl them through the provision of space. advocacy, information events and funded inlerpreler services. There is a robust Business Conlinuily Plan (BCP) in place. Health and Safety Reports have been completed and all adions met. DeaaY became a Real Living Wage Employer. We also inlroduced a private health benefit and added 2 well being days to staff leave allocation. We also registered as a sponsoring employer for overseas employees. These additional benefits have significantly improved staff retention and recruilmenl. We have increased the number of Dldeaf and hard of hearing employees We commissioned new IT providers to support us with our continued digital developments Our fund raising aclivilies have increased and there has been a significant increase in revenu8 from this The number of Trustees has increased with new Trustees conlribuling new knowledge and skills. c) Planned 2025126 The building refurbishments continue in terms of an overall upgrade lo the seniices and Ihe site both internally and externally. Many new projects are being planned for 2025126 including new car park, ouldoor gym and refurbished sports hall. We are also starting a major refurbishment of all residential houses slarling with house 2. The kitchen needs an urgent upgrade to meet slatulory requirements. This will be started in 2025126. There will be significant expansion of our communily seNice We aim to modernise our financial services and commission a new system which will be more efficient and deliver more limely reports. We will consider the polenlial of crealing a new domiciliary care service if there is Ihe demand Conlinued discussions with other charities and seNices in order lo initiate and expand on partnership workinglservice provision. Including joinl grant applications. Reviewing our Deafway 'branding' to support provision of a consislent image sent out via markeling. social media elc. We hope lo work in partnership lo deliver opporiunilies for employment and training support for Dldeaf people in Lancashire Continue lo make all areas of the business digilal, in effect, becoming a paperless service. We will continue to improve and expand our social media platforms To continue applying for external funding to support internal and exlernal projects which will benefil residents and members of the Deaf communily. We are trying lo secure capital funding for the replacement of the community hublreslauranl roof and Ihe redevelopment of the swimming pool area. (.) Structure, governance and management The charity is controlled by ils governing document. a deed of trust, and conslitutes a limited company. limiled by guarantee, as defined by the CompaniesAcl 2006.
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees. who are also the direclors for the purpose of company law. and who served during the year and up to the dale of signature ol the financial statements were: Mr B S Donelly Mr J J Ward OBE Mrs C A Cuming Mrs C Moxon Mrs P Wynne Mrs V L Hall Mr P R Scoll Ms L Davidson Dr L Barnes Miss K Milnes (Resigned 16 May 2024) (Resigned 30 September 2024) (Appointed 18 November 2024) Recniilmonl and appoinlm8nl of Iwstees Truslees nominale and have power of appoinlmenl of future Trustees. who serve for a period of three years following appointmenl and may be re-appointed al the end of Ihe leTm of office. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guaranteè lo contribute £1 in the evenl of a winding up. Organisation81 struGlure The Trustees who have served during the year are sel out abov8 and Ihey have been appointed in accordance with our Memorandum and Articles ofAssocialion. Trustees nominate and have power of appoinlmenl of future Truslees, who serve for a period of three years following appoinlmenl and may be re-appointed at the end of the term of office. We believe that our Board of Trustees should be made up of a variety of people who bring a range of different visions, knowledge, experience and skills to the role. We are proud of Ihe facl that a significant number of our Truslees are either Ihemselves Deaf or have slrong personal connections to Ihe Dldeaf community. We believe and stale that all of OUT Trustees musl understand and share Deafway's values, have the skills to contribute to DeafrNay in Ihe role of Trustee and musl also lake an interest in our full range ofwork. L) Managemenl accounts and monthly reports from each departmenuservice leader, and from the Chief Executive, are submitted lo and discussed at our monthly Truslee meelings. The day to day running of Deafway is enlrusled lo the Chief Executive and their leadership team. Thls team meels formally each month and informally each week. The smaller strategic leadership team meets as and when neSSary to discuss specific strategic issues. The Chief Executive line manages the Residential Services Manager. Ihe Fundraising & Development team, the Finance Manager, the HR Manager and Ihe Maintenance Manager holding regular one-to-one supervision sessions wilh them. There are similar supetvision arrangements in place within each service for all other managers and slaff. In addition, the Chair of Trustees holds off-site review sessions wilh the CEO on 2 or 3 occasions per year.
DEAFWAY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Olh8r mallers Rlsk management The Iruslees have a duly lo Identify and review the risks lo which the charily Is exposed and lo ensure appropriate conlrols are in place to provide Teasonable assurance against fraud and error. The truslees relain Peninsula Business Services Limited to provide 24 hour advice in respect of all employment law and health and safely matlers. In addition. Ihis contract provides Indemnlty in respect of Employment Law claims. Flnanclal sustalnabllily is a malor financlal rlsk lor the charily. A key elemenl in the management of financial risk is a regular review of available liquid funds lo sellle debts as Ihey fall due. regular liaison wlth the bank, and active management of trade debtors and creditors balances to ensure sufficlent working capital by the charily. Allenllon has also been focussed on non-financial risks arlsing from fire. health and safety of Tesidenls, management of staff and food hygiene. These risks are managed by ensuTing accreditalion is up to date, having robusl policles and procedures in place. and regular awareness and compliance training for staff worklng In Ihese operalional areas. Care QualSty CornmSsslon Deafway was re-lnspected by the Care Qualliy Commlsslon In Aprll 2024. Subsequently we have recelved an Improved ratlng of "Good" We wlll contlnue to revlow and enhance our servlce Sn order to maSntaln, or Smprove, thls ratlng further. Audltor In accordance wllh the company's artlcles, a resolullon proposSng Ihal Champlon Accounlanls LLP be reappolnled as auditor of the company will be put at a General Meeling. The Irustees, report was approved by Ihe 8oard of Trustees. Mr B S Donelly Trustee Date..
DEAFWAY STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Irustees, who are also the directors of Deafivay for the purpose of company law. are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Irustees to prepare financial slalemenls for each financial year which give a true and fair view of Ihe slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial slalemenls, the Ifuslees are required lo= select suitable accounting policies and then apply them consistently., observe the methods and piinciples in the Charities SORP. make judgements and estimates Ihal are reasonable and prudent- stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slatemenls., and prepare the financial slalements on Ihe going concern basis unless il is inappropriate lo presume that the charily will continue in operalion. G) The trustees are responsible for keeping adequate accounling records thal disclose wilh reasonable accuracy al any time the financial position of the charily and enable them to ensure that the financial statements comply with the Companies A¢1 2006. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. 10-
DEAFWAY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DEAFWAY Opinion We have audited Ihe financial slalements of Deafway (the 'charity') for Ihe year ended 31 March 2025 which comprise the slalement of financial aclivilies. the balance sheet. the stalemenl of cash flows and notes to the financial slalements, including significant accounting policies. The financial reporting framework thal has been applied in Iheir preparation is applicable law and Uniled Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Slandard appliGable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi). In our opinion, the financial statements: give a true and fair view of the slate of the charitable company's affairs as al 31 March 2025 and of ils incoming resources and application of resources. for Ihe year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of Ihe Companies Act 2006. Basis for oplnion We conducted our audil in accordance with Inlernalional Standaids on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under Ihose standards are further described in Ihe Aiidilorfs rèsponsibililies for Ihe aiidil of tha financial slatem6nts section of our report. We are independent of the ¢hafily in accordance with the elhical requirements that are relevant to our audil of the financial slalements in the UK, including the FRC'S Elhical Standard. and we have fulfilled our other elhical responsibililies in accordance wilh these requirements. We believe thal the audit evidence we have oblained is sufficient and appropriale to provide a basis for our opinion. other Informatlon The other information comprises the information included in the annual r8POrt other than the financial slalemenls and our audilols report Ihereon. The Irustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other informalion and we do nol express any form of assurance conclusion Ihereon. Our responsibilily is to read the other information and, in doing so, consider whether the other information is materially inconsislenl wilh the financial slalemenls or our knowledge obtained in the course of the audit. or otherwise appears lo be malerially misslaled. If we idenlify such malerial inconsistencies or apparent material misslalements. we are required lo determine whether this gives rise lo a material misslalemont in Ihe financial stalemenls themselves. If, based on Ihe work we have performed. we nClude that there is material misstatement of this other information, we are required lo report that fact. We have nolhing to report in this regard. Matters on whlch we are required to report by exception We have nothing to report in respect of the following malters In relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if. in our opinion: Ihe information given In the financial statements is inconsistenl in any material respect with the trustees, Teport. or sufficient accounting records have not been kept.. or the financial slatemenls are not in agreement with the accounling records- or we have not received all the information and explanalions we require for our audit. 11
DEAFWAY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DEAFWAY Responsibilities of trustees As explained more fully in the slatemenl of Iruslees, responsibilities, the trustees. who are also Ihe directors of the charily for the purpose of company law, are responsible for Ihe preparation of the financial statements and for being salisfied Ihal Ihey give a true and fair view. and for such inlernal control as the trustees determine is necessary to enable the preparation of financial stalemenls Ihat are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenls. the Iruslees are responsible for assessing the charity's abilily lo continue as a going concern. disclosing. as applicable. mallers related lo going concern and using the going concern basis of accounting unless Ihe trustees either intend to liquidate Ihe charitable company or to cease operations. or have no realislic alternative but lo do so. Auditor's responslblllties for the audit of the financial statements We have been appointed as auditor under seclion 144 of the Charilies Act 2011 and report in accordance wilh the A¢1 and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance aboul whether Ihe financial statements as a whole are free from material misslalement, whether due lo fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assuran is a high level of assurance bul is nol a guarantee thal an audil conducled in accordance wilh ISAS (UK) will always delect a maleTial misslalemenl when il exisls. Misstatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on Ihe basis of these financial stalements. Th8 extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. We obtained an underslanding of Ihe legal and regulatory frameworks applicable lo the Charily and the seclor in which they operate. We delermined Ihal Ihe following laws and regulations were most significant; the Charities Act 2011, the Heallh and Social Care A¢1 2008, Employment regulation and Health and Safely legislation. We oblained an understanding of how the Charily is complying wilh those legal and regulatory frameworks by making inquiries to Ihe management. We assessed the susceplibilily of the Charily's financial slalemenls to maleiial misstalemenl, including how fraud might occur. Audit procedures performed by the audit engagemenl team included- (.) Identifying and assessing the design effecliveness of controls management has in pla to prevent and delect fraud: Understanding how those charged with governance considered and addressed the polenlial for override of controls or other inappropriate influence over the financial reporting process; Challenging assumplions and judgements made by management in ils significant accounting eslimales- Identifying and lesling journal entries: in particular any journal entries posled wilh unusual account combinations; Reviewing material variation from our expeclalion in the income, expenses and balances; and - Assessing the extent of compliance wilh the relevant laws and regulations. 12-
DEAFWAY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DEAFWAY A further description of our responsibilities is available on the Financial Reporting Council's website al.. hllps'.11 www.frc.org.uklaudilorsresponsibililies. This description forms part of our audiloffs report. Use of our report This report is made solely lo the charity's Irustees. as a body. in accordance with Part 4 of Ihe Charities (Accounts and Reporls) Regulations 2008. Our audit work has been undertaken so Ihal we might state lo the charily's trustees those matters we are required to stale to them in an auditor's report and for no other purpose. To the fullesl exlenl permitled by law, we do not accept or assume responsibility lo anyone other than Ihe charity and Ihe charity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. c) Peter Buck FCA, DChA (Senior Ststutory Auditor) For and on behalf of Champion Accounlanls LLP. Stalulory Auditor Chartered Accounlanls 7-9 Slation Road Heskelh Bank Preston Lancashire Date: Champion Accountants LLP is eligible for appoinlmenl as auditor of the charity by virtue of ils eligibility for appointment as auditor of a company under sedion 1212 of Ihe Companies Acl 2006. 13-
DEAFWAY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestricted Unrestrlcted funds funds general designated 2025 2025 Restrlcted funds Total Tolal 2025 2025 2024 Noles Income from: Donations and legaci6S Charitable aclivitles Investments 20,237 2.819,247 7.146 25,948 53.331 2,819,247 56,325 2,552,677 10.372 Total Income 2,839.484 7,146 25.948 2,872,578 2,619.374 Expendlture on: Raising funds Charitable aclivilies 80.181 2,795.926 80,181 3.076,253 25,061 2.843,558 221.244 59,083 Total expèndlture 2.876.107 221.244 59,083 3.156,434 2.868,619 Net gainsl(losses) on investments 12 15.399 {8.560) 6,839 46,303 Net expenditure {36.623) (198,699) (41,695) (277,017) (202.942) Transfers between funds 57,436 (57,436) Other recognised gains and losses: Revaluation of tangible fixed assots 120,000 Net movement In funds (36,623) (141,263) (99.131) (277.017) (82,942) Reconclllatlon of funds: Fund balances at 1 April 2024 610.440 1,129,651 361.523 2,101.614 2,184.556 Fund balances at 31 March 2025 573.817 988,388 262,392 1,824,597 2,101,614 The stalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivities. 14-
DEAFWAY STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prlor financial year Unrestricted Unrestricted funds funds general designated 2024 2024 Restrlcted funds Total 2024 2024 Noies Income from: Donations and legacies Charitable aclivilies Investments 22.190 2,552,677 34,135 56.325 2,552,677 10,372 10,372 () Total income 2,574.867 10,372 34,135 2,619,374 Expendlture on: Raising funds Charitable aclivilies 25,1 2,582,780 25,061 2,843,558 213.306 47,472 Total expenditure 2,607,841 213.306 47,472 2,868,619 Net gainsl(losses) on investments 12 13,418 32,885 46,303 Net Incomel(expenditure} (19.556) (202.934) 19,548 (202,942) Transfers between funds 340.817 (352,392) 11,575 other recognlsed galns and losses: Revaluation of tangible fixed assets 120,000 120,000 Net movement In funds 321,261 (435,326) 31,123 (82,942) Reconclllatlon of funds: Fund balances at 1 April 2023 289,179 1,564.977 330,400 2,184,556 Fund balances at 31 March 2024 610,440 1.129,651 361,523 2,101,614 15-
DEAFWAY BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxed assets Tanglble assels Investments 14 15 1.003.312 239,956 975,139 595,013 1,243,268 1.570.152 Current assèts Slocks Debtors Cash al bank and In hand 16 17 1,392 80,395 721,151 2.666 124,427 651.738 c) 802.938 778,831 Credltors: amounts falllng due wlthln one year 18 {221.609) (247,369) Net current assets 581,329 531,462 Total assets less current Ilabllltles 1.824.597 2,101,614 The fund8 of the charlly Reslricled income funds Unreslrlcled funds - general Unreslricled funds - designated 19 21 20 262,392 573,817 988,388 361,523 610,440 1,129,651 1.824.597 2,101,614 The company Is entllled lo Ihe exempllon from the audit requlrement contaln8d In secllon 477 of Ihe Companles Act 2006. for the year ended 31 March 2025. The dlrectors acknowledge Ihelr responsibililles for complying wllh Ihe requlremenls of the Companles Act 2006 wilh respect lo acGounling records and Ihe preparalion of financial slalements. The members have nol required the company lo obtain an audil of ils financial slatements under the requiremenls of the Companles Acl 2006. lor the year in queslion in accordance with section 476. These financlal statements have been prepared In accordance with Ihe provlslons applicable lo companles subject to Ihe small companies regim8. Jq.10.Loi< The financlal statements were approved by the trusteos on ...................-..... Mr B S Donelly Trustee Mr J J Ward OBE Trustee Company reglstration number 04243198 (England and Wales) 16-
DEAFWAY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activitles Cash absorbed by operations 24 (238,664) (476,661) Investing activities Purchase of langible fixed assets Proceeds from disposal of investments Investment income received (55,612) 363,689 (18,472) 10,372 Net cash generated froml{used Inl Investlng activltles 308,077 (8.100) Net cash generated from financing aclivltles Net Incrèa8el{decrease) In cash and cash equlval8nts 69.413 {484,761) Cash and cash equivalents al beglnning of year 651.738 1,136,499 Cash and cash equlvalents at end of year 721.151 651,738 17-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcies Charlty Informatlon Deafway is a private company lirniled by guarantee incorporated in England and Wales. The registered office is Brockholes Brow. Preston. Lancashire, PR15BB. 1.1 Basis of preparation The financial slalements have been prepared in accordance wilh the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and Ihe Charilies SORP "Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance wilh the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entily as defined by FRS 102. The financial statements are prepared in sterling. whl¢h Is the functional currency of the charity. Monetary amounts in these financial slalements are rounded lo Ihe nearest £. The financial slalemenls have been prepared under the historical cost convention, modified to include Ihe revalualion of freehold properties and lo include investment properlies and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Golng concern Al the lime of approving the financial slalemenls, the Irustees have a reasonable expeclalion Ihal the charity has adequale resources lo conlinue in operational existence for the foreseeable future. Thus Ihe Iruslees conlinue lo adopl tho going concern basis of accounting in preparing the financial stalemenls. 1.3 Charitable funds Unreslricled funds are available for use at the discrelion of the Iruslees in furtherance of their charitable objecliv8S. Designated funds are unrestricted balances earmarked by the Truslees for ¢erlain projects as part of the overall fund management approach. Reslricled funds are subject lo specific conditions by donors ar granlors as to how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the financial slalemenls. Endowment funds are subject to specific conditions by donors that Ihe capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally enlilled to it after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance Gondilions require deferral of the amount. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenanl is recognised al Ihe time of the donalion. Legacies are recognised on receipt or otherwise if the charily has been notified of an impending diglribulion, the amount is known, and receipt is expected. If the amount is nol known, the legacy is Irealed as a contingent asset. 18-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continuedl 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit lo a third pariy, il is probable Ihal a transfer of economic benefits will be required in setllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of Ihe total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct cosls allributable to a single aclivily are allocated directly lo that aclivily. Shared costs which contribute lo more than one aclivity and support costs which are not atlribulable to a single aclivily are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cnsl or valualion, nel of depreciation and any impairmenl losses. Depreciation is recognised so as to write off the cost or valualion of assets less their residual values over their useful lives on the following bases: Freehold land and bulldings Leasehold land and buildings Leasehold improvemenls Equipment and IT Motor vehlcles Brockhalls Brow- not provlded Lancaster- nol provided 6.66°A on cost 200h on Cost 200A on cosl The gain or loss arising on the disposal ol an asset is determined as Ihe difference between Ihe sale proceeds and the carrying value of the asset, and is recognised in Ihe slalement of financial activities. 1.7 Flxed asset Investments Fixed asset inveslments are inilially measured al transaction price excluding Iransaclion costs, and are subsequently measured al fair value al each reporting date. Changes in fair value are recognised in nel incomel(expendilure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets At each reporting end date, the charily reviews the carrying amounls of ils tangible assels to determine whelher there is any indication that those assels have suffered an impairment loss. If any such indication exists, the recoverable amounl of the assel is estimated in order to determine Ihe exlenl of the impairmenl loss (if any). 1.9 stocks Slocks are stated al the lower of cost and eslimaled selling price less costs lo complete and sell. Cost comprises direct maleTials and, where applicable, direcl labour cosls and those overheads Ihat have been incurred in bringing the stocks to Iheir present location and condilion. Ilems held for distribution al no or nominal consideration are measured the lower of replacement cosl and cosl. Net realisable value is the eslimaled selling prio less all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid inveslmenls with original maturities of three monlhs or less. and bank overdrafts. Bank overdrafts are shown wilhin borrowings in current liabilities. 19-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollclès Icontlnued) 1.11 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrument5' and Section 12 'Olher Financial Insliuments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charily's balance sheet when the charily becomes party to the conlraclual provisions of the instrument. Financial assels and liabilities are offset, wilh Ihe net amounts presenled in the financial slalemenls, when there is a legally enforceable righl lo set off the recognised amounts and there is an inlention lo sellle on a net basis or to realise the asset and sèllle Ihe liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially moasured al transaction price including Ifansaclion costs and are subsequently carried al amortised cost using Ihe effective inleresl method unless the arrangement conslilules a financing Iransaclion, where the Iransaclion is measured at the present value ol Ihe fulure receipts discounted al a market rale of interest. Financial assels classified as receivable within one year are not amortised. Baslc financial liabilities Basic financial liabilities, includlng Creditors and bank loans are initially re¢ognised at transaclion prl¢e unless Ihe arrangement constilules a financing transaclion, where Ihe debl instrument is measured at the present value of the future paymenls discounted at a markel rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt inslrumenls are subsequently Carried al amortised cosl. using the effective interest rate method. Trade creditors are obligalions to pay for goods or seNices thal have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classified as current liabililies if payment is due within one year or less. If not, they are presenled as non-current liabililies. Trade creditors are recognised initially al transaction Price and subsequently measured al amortised cost using the effeclive interest melhod. Derecognllion of flnanclal Ilabilllles Financial liabililies are derecognised when the charily's contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's servlces are received. Termination benefits are recognised immediately as an expense when the charily is demonstrably commilled to terminale Ihe employment of an employee or lo provide termination benefits. Critical accounting esllmates and Judgements In the application of the charity's accountin9 policies. the trustees are required to make judgements, eslimales and assumplions about the carrying amount of assets and liabilities Ihal are not readily apparent from other sources. The estimates and associated assumplions are based on hislorical experience and other factors that are considered to be relevanl. Actual resulls may differ from Ihese estimates. The eslimales and underlying assumplions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. -20-
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DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Incomo from charitable activities Unrestrlcted funds 2025 Unrestricted funds 2024 Servlces to Dldeaf people Setvices provided under conlract Sales of servIS by beneficiaries Performance related grants 2,819,247 2.547,813 151 4,713 () 2,819,247 2.552,677 Incomè from Investmènts Unrestrlcted Unrestrlcted funds funds deslgnated deslgnated 2025 2024 Inleresl receivable 10,372 Expendlture on ralslng funds Unrestricted Unrestricted funds funds 2025 2024 L) Fundraising and publlclty Other fundraising costs Staff costs 2.522 77.659 123 24,938 80.181 25,061 -22-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitablo actlvitles Provision of Provision of services to services to Dldeaf Dldeaf people people 2025 2024 Dlrect Costs Staff costs Depreciation and impalrment Property costs Cost of sales Administralion costs Projecl expenditur8 and developmenl cosls 1,662.012 27,439 723.229 10,566 1,436,624 17,264 581,213 11,882 425 254,205 () 131,783 2,555,029 2,301,613 Share of 8UPPOrt and governance costs (see note 8) Support Governance 447,570 73,654 463,635 78,310 3,076,253 2,843.558 Analysls by fund Unrestricted funds - general Unrestricted funds - designated Restricled funds 2,795,926 221,244 59,083 2,582,780 213,306 47,472 3,076.253 2,843,558 Support costs allocated to actlvlties 2025 2024 Staff costs Property costs Care costs Governance costs 447,560 10 390,875 14,185 58.575 78,310 73,654 521,224 541,945 Ana5ysed between: Provision of services to Dldeaf people 521,224 541.945 -23-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movemenl in funds is stated after chargingl{crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 10,400 27,439 9,900 17,264 10 Trustees None of the Iruslees (or any persons connecled with them) reiVed any remuneralion or benefils from Ihe charity during the year. C'J Trustees. expenses There were no trustees, expenses paid for Ihe year ended 31 March 2025 nor for the year ended 31 March 2024. The cost of insurance to indemnify Ihe twslees agalnsl the consequènc8s of any neglect OT default on their part amounted lo £10,848 (2024 '. £10,878). 11 Employees The average monthly number of employees during the yearwas.. 2025 Number 2024 Number Managemenl and administration Caring slaff others 10 53 12 13 34 16 Total 75 63 Employment costs 2025 2024 Wages and salaries 2,228.217 1,892,514 The key management personnel of the charity comprise the Chief Executive. Finance Manager, HR Manager and Residential Care Manager. The total remuneralion of the key management personnel of the charily (induding Employer's Nalional Insurance and Pension Conlributions) was £187.726 (2024.. £182,083) The number of employees whose annual remuneralion was more than £60,000 is as follows: 2025 Number 2024 Number £60,001- £70.000 £70.001- £80,000 -24-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employees {Continuedl Remuneration of key management personnel The remuneration of key managemenl personnel was as follows: -25-
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DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Taxalion The charily is exempt from taxation on its activities because all ils income is applied for charilable purposes. 14 Tanglble fixed assets Fr*&hold land and bulldSngs Leasehold Leasehold land and Improvèments bulldlngs Equlpm•nt and IT Motor vohlcles Total Cost Al 1 April 2024 Additions 650.000 195,0(XJ 76,764 219,492 55,612 62.156 1.203,412 55,612 c) Al 31 March 2025 650.000 195,000 76,764 275,104 62,156 1.259,024 Depreclatlon and Impairment AI 1 April 2024 Depreciation Charged in Ihe year 177,781 50,492 228,273 22,439 5.000 27,439 Al 31 March 2025 200,220 55.492 255,712 Carrylng amount Al 31 March 2025 650.000 195,000 76,764 74,884 6.664 1.003,312 Al 31 March 2024 650.000 195.000 76.764 41.711 11.664 975,139 During 2024 the properties al 8rockhalls Brow and at Lancaster were revalued by an Independent firm of Chartered Surveyors. The property al Brockhalls Brow was valued al £650,WO and Ihis amount has been used to provide the revalued Cost. The property at Lancaster houses the Lancaster Social Club. The properly is held under a long lease dated January 2005 for a term of 999 years. The Lancaster property has been al £195,000 and Ihis amount has been used to provide the revalued cost The properlies are all used for direct charitable purposes. or for purposes incidental to the proper working. and effeclive carrying on of the charity's objects and activities. -27-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Fixed asset investments Unlisted investments Cost or valuation At 1 April 2024 Valuation changes Disposals 595,013 (6,7711 (350.151) At 31 March 2025 238,091 Carrylng amount At 31 March 2025 238.091 At 31 March 2024 595.013 16 Stocks 2025 2024 Raw materials and consumables 1,392 2,666 17 Debtors 2026 2024 Amounts falllng due wlthin one year: Trade debtors Prepayments and accrued in¢ome 29.538 50,857 82,735 41,692 L) 80,395 124,427 18 Creditors: amounts falllng due within one year 2025 2024 Other taxation and social security Trade credilors other creditors Accruals and deferred income 39,715 53,459 56,738 71,697 29,526 64,430 41,125 112,288 221,609 247,369 The charily holds client money in a separate client accounl, Ihe balance of this account at the year end was £2,025 (2024: £1,970). The balances and incomelexpendilure are nol included in the charity accounts as they only act on an agency basis. -28-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds The reslriGled funds of the charily comprise the unexpended balances of donations and grants held on trust subjecl lo specific conditions by donors as lo how they may be used. At 1 Aprll 2024 Incoming resources Resources expended Transfers Gains and At 31 March losses 2025 361.523 25,948 (59,083) (57,436) (8,560) 262,392 (I Provlous yoar: At l Aprll 2023 Incomlng resources Resources axpended Transfer8 Galns and At 31 March losses 2024 330,400 34.135 (47.472) 11,575 32,885 361,523 20 Unrestricted funds - deslgnated These are unreslricled funds which are material to the charily's activities. At 1 Aprll 2024 Incoming resources Resources expended Transfers Gains and At 31 March losses 2025 1,129.651 7,146 (221,244) 57.436 15.399 988,388 Prevlous year: At 1 Aprll 2023 Incomlng Resources resources expended Transfers Galns and At 31 Mareh losses 2024 L) 1,564,977 10.372 (213.306) (352,392) 120,000 1,129,651 21 Unrestrlcted funds The unrestricted funds of Ihe charily comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and gfantors as lo how Ihey may be used. These include designated funds which have been sel aside out of unrestricted funds by the Irustees for specific purposes. At 1 Aprll 2024 Incoming resources ResOue$ expended Transfers Galns and At 31 March losses 2025 General funds 610,440 2.839,484 (2,876,107) 573.817 -29-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Unrestricted funds (Continued) Previous year: At 1 Aprll 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 289.179 2.574,867 {2,607.841) 340.817 13.418 610,440 22 Analysls of net assets behveen funds Unrestrlcted Unrestricted funds funds general de51gnated 2025 2025 Restricted funds Totsl 2025 2025 At 31 March 2025: Tangible assets Investments Current asselsl(liabililies) 158.312 88.792 326.713 845,000 143,388 1.003,312 239,956 581,329 7,776 254,616 573.817 988,388 262,392 1,824,597 Unrestricted Unrestricted funds funds general designated 2024 2024 Restrlcted funds Total 2024 2024 At 31 March 2024: Tangible assets Investments Currenl assetsl(liabililies) 130.139 249.086 231.215 845,000 284,651 975,139 595,013 531,462 61,276 300.247 610.440 1,129,651 361,523 2,101,614 -30-
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Analysis of net assets between funds (Continued} Designated Funds These funds have been sel up lo assist in idenlifying those funds that are nol free funds and compriso the following.. Pro ert Fund This fund represents Ihe charily's interest in the Property known as Brockholes Brow as included in Tangible Fixed Assets and also a lease on a property in Lancaster. The balance on this fund at the year end was £725,000 (2024'.£725,000). Revaluation Reserve This fund represents the increase in value of the properties when revalued in line with the Charity's revaluation policy. The balance of Ihis fund at the year end was £120,000 (2024: £120.000) c) ecific Develo ment PTO ecls Fund ital ReseNe This fund represents the charity's commitment lo both specific and general fulure development of the organisalion and Ihe services provided. This fund is made up of numerous projecls. The balance on Ihis fund al the year end was £143.389 (2024.. £284.651). General Funds General funds comprise those funds which the Irustees a free lo use in accordance with the charitable objects, which are not designaled for particular purposes and now conlain the conlingency reserve funds. The balance on this fund at the year end was £573,817 {2024'. £610,440). Restricted Funds General funds comprise funds which have been given for particular purposes and projects. The balances on these funds al the year end were as follows: Specific development projects fund £43,122 {2024- £43.122). Appeals fund £81,627 (2024.. £114,762) Assels in use £(15,736) {2024.' £(15.736)). Richard Bannisler project £110,822 {2024= £115.542) Emergency property repair fund £42,558 (2024: £42.558) Inveslmenl V82 AOYL £NIL {2024.' £61.276) 23 Related party transactlons There were no disclosable related party transactions during the year (2024 - none). 31
DEAFWAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Cash absorbed by operations 2025 2024 Deficit for the year (278,810) (203,949) Adjustments for: Investment income recognised in statement of financial activilles Gain on disposal of investmenls Fair value gains and losses on inveslments Depreciation and impairment of tangible fixed assets (10,372) (15,403) 8,564 27,439 (46,303) 17,264 Movements In worklng capltal: Decreasel(increase) in stocks De¢reasel(increase) in debtors (Decrease) in creditors 1.274 44.032 (25,7601 (376) (14,784) (218,141) Cash absorbed by operatlon8 (238,664) (476.661) 25 Analysls of changes in net funds The charily had no material debt during the year. -32-