Company registration number: 04344486 Charity registration number: 1090579 The Chaseley Trust (A company limit¢d by guarantee) Annual Report and Audit¢d Financial Statements for th¢ Year Ended 31 December 2024 Mannin8tons 39 High Street ' Battle East Sussex TN33 OEE IlllllMLI *AEC7D9HK• 301091202S COMPANIES HOUSE #14 The Chaseley Trust Contents Reference and Administrative Details Trustces, Report 2to 14 tndependent Auditors, Report 1Sto 17 Sratemenl of Financial Activities 1810 19 Balance Sheet 20 Siatemenl of Cash Flows 21 Notes to the Financial Ststcments 22to37 The Chaseley Trust Reference and Admlnistrative Detalls Chair Janet Floyd Trustees Clive Garner Ang￿ Langford Jackie Travis Lesley Miles Janet Floyd Senior Management l Leadership Gill Davies. CEO Team Aody Burt, Registered Manager Daniella DDD, Deputy Manager James Bugler, Finance co￿rdInal0r Charity Rcgistration Number 1090579 Cump¥Dy Regi5tr%tivn Numb¢r 04344486 Regl$t¢red Office The Chaselcy Trust Souih Cliff Ea51bourne East Sussex BN20 7JH Audltor Manningtons 39 Hi8h Str¢el Battle East Sussex TN33 OEE Solicitors: l-Teringlons 37-39 Gildredge Road Eastboume East Sussex BN214RX Bankers HSBC 94 Tenwnus Rood Eastboume East Suss¢x BN213FD Pag¢ I The Chaseley Trust Trustees, Report The Trustees presenl iheir annual report together with the audited fmancial staletnents of the Company for the year l janu}￿ 2024 to 31 December 2024. The Annual Report serves tbe purposes of both a Trusiees, Report and a Directors, Report under Company law. The Trustees confirni that the Annual Report and fiuaneial statemenL8 of the Charitable Company comply wirh the curreni statutory requirements, the requirements of the Chariiable Company's governing do¢um¢nt and the provisions of the Siatemenl of Recommended Practice (SORP) applicable to charities preparing their accounts. In accordance with the Financial Reporting StsDd¥d applicable in the UK and Republic of Ireland (FRS102) (effective l January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strate8ic Report and Directors, Report) Regulations 2013 has been omitted. Trustees OD 18th December 2024 our Chair. Professor Gill Davies, after serving as ffiisree $inLe 2(Tr18 aod as CbaiT since 2021, retired due to ill health. The Trustees and management w"-ish to record their appreciation for the dedication and seryice she gave to The Chaseley Trust. During Ihe year. rwo new trustees joined Ihe Board of Trustees. Jackie Travis on 19 January 2024 and Jan Floyd on Isc May 2024. ObJcctlves and actlvltlcs The Chaseley Trust IS 8 regist¢r¢d Care Hom¢ Charity re￿lated by The Charity Commission and the Care Quality Commission (CQC). li is a specialist Care Home for those with complex neurological conditions. Founded in 1946, Dr Ludwig Guttmann was il's first medical consultant. Dr Guttmann was a leading authority on the trealrnent (Ind rehabilitdlioD of paraplegics, and wcnl on to esrablish Ibe Nalionlil Splnal Unit al Stokc Maodeville aud the Pardlympi¢s. Sin¢¢ 1946, Cbaseley has evolved from belug a home for injured ex servicemen, widening Its criieria for admission to include people with seveTe neurological dit'ticullies. The need for nursing caTe has expanded but what has not changed is the spirit and eihos of Chaseley, grounded in Dr Gultmann's Icgacy. Chaselcy is amoiig the few carc homes in Ihe county providing specialist provision for the llewo4isabled. Chaseley provides care, iTeaiTnenl, rebabilitation and therapeutic support not ODly to those living in Easi Sussex. but lo R¢sidents coming from rnany other parts of the country who can benefit from ils highly specialist expertlse. Typically, the Residents have 5ignifiLant disabilities because of Acquired and Traumalic BraiD injury. Spinal Cord InjL￿, and neuTological th'seases such as Multiple Sclerosis aad Motor Neuron Disease. Tbe Home 1$ rcgistercd to admit adults over the #ge of18. Care packages arc developed to iheet various Dceds. Below are examples of the range of packages currently being delivered. They are commisgioned either by Health and Social Care Departmen15 or by private individuals and Iheir families. Slow-slream rehabilitation for adulis over 18 with complex neurological conditions (including acquired and traumatic brain injury, and spinal injury) • Longer lerni care for people over 18 with similar conditions Longer tern] care for people over 65 wiib complex physical healthcare needs Treatment for those over 18 years of age who have a oeurological Conditio￿ provided that needs can be eff￿lIvelY met. Page 2 The Chaseley Trust Trustees, Report Chasel¢y also provides therapeuti¢ r¢sour¢es to the local and healthcare community in the NHS in.. • NHS commissioned physiDiherapy service for postural assessments • Wheelchair a5ses$ment and maintenance • An acc¢ssible gym for residents from the local communiry The Residents benefit from a unique dedicated Well-Being and Activities department, which organises a diverse rang¢ of programmes aimed al enhancing enjoyment and emotional wcll-bcing. Thcse offcrings includc wheelchair-accessible games, art classes. cookery sessions. crafts, a reading group. gardening activitics. ¢rosswords, group singing, regular film screenings, yoga. massages, animal_assisteil visits, outings into the community and iTlPS to Day Centres. Additionally. musicians and singeTS trequenrly visit 10 provide entertainment. In SpTing 2024, for the third consecutive year. duck eggs were broughi in so ihat Residents could observe their halcbing and development. This yearfs calendar has aiso featured comedy evenings with professional Lomedians, quiz tLi8hts lor both residents and guests, and visits from a pony and other emotional support animals. Maoy aL'livilies lake pluLe in two S￿L.1￿U￿ social ruoms. LTrne of wbiLh fealures a bar serving L'offee, beverJ¥es, and snacks. R¢sideDls also have access lo a dedicated Art Room, fully equippcd with maleria15 for painting and drawing as well as a Th¢rapy kn'lchen, supporting Residenls in preparing their own meals 10 enjoy in small groups. Th¢ Activilics programm¢ is furthcr supported by volunteers who generously contribute their time. Chaseley itself is situated within landscaped gTounds featuring a terrace and gardens wiib sea vicivs, offcring an exc¢ptional setting highly valued by Residents and iheir families. Athievements and performance eview ol'activ'tie and challon Stofflng shortages Staffing is alway5 a challenge to care homes nationwide. As a result, Chaseley has been actively r¢¢ruitin8, raising Iheir remuneralion rates and employment offering Iraining, progression and developmeni togeiher with employee benefit1> lo combat this. Our r¥siden15 Jepend on our t+taff the besl service we can Ltivc them it> to reduLe agency alld provide a core cohort of stsff that really know aud Lare about our regidenls, ￿)d are happy in their work, feeling valued and part of the Chas¢ley frdtnily. Training 15 mandatory and constant attention paid to creating an ethos promoting the lll'ghest standard5. Our Registered Manager offers monrfdy drop-in sessions for any mcEnbcr of staff wbo have conccins or ivorri¢s and we acfively c￿COUrage our staff lo voice ideas and suggestions on how we can improve funher. Our current employee beDef)ts include Life Cover, Pension Scheme, Healih Care Plan, Training & Development, W¢llbeing Support, a Refer A Friend Scheme and subsidized staff me8ls. We also provide a comprehensive induction and trainiDg programm¢. with fvrther opportunities to obtain indu5ty qualifications. Page 3 The Chaseley Trust Trustees, Report Chaseley previously took 8dvhntage ot the new Working Visa system wbereby slaff - particularly nurses - could enter the UK to work in Care Flomes. These nurses were found lo be dedicated and hardworking, but mu¢h emphasis was puc on training to ensure their practices were in line with UK requirements and standard5. Unfortunately, in early 2024, Ihe previous Government decided 10 change the Visa pro¢ess. declining entry lo those who wished to bring family rnembers with them and increasing the salary threshold for Skilled WorkeT Visas while maintaining a lower thresbold for nurses paid OD national pay scales. Thi's has impacted the UKS ability to reLnJit international Iiurses to fill workforce shortages dnd hds Wldoubtedly infiuenLed numbers choosing to come to the UK to enter the care sector. To address these challenges, we are investing Sjrtber in our existing staff by increasing wages and employment benefits, and enhancing training provision lo support retention and recruitrnenl. These measures have proven effective,. as of 2025, our nursing staffing requirements have been mel and we conlinue lo seek opportunitie5 lo enhanG¢ our position as an employer of Choice. Our workforce remains our most valuable asset ITJ delivering exceptional care to our residents. All staff have access to an application that provides detailed informalioTh about slu'fts, timetables and available opportunitie8, enabling them lo pick up extra shifts or request holiday5 as d¢sir¢d. Sickne55 leve15 are closely monitored and actively reduced, with welfare meeting5 held to ensure management offers appropriate support. Managemenr personnel rtmain on call 24 hours a day. Each shift incorporates a diverse MIK of work experience and skills among staff, allowing less experienced members lo learn from those with greater exp¢rlise: this approa¢h includes a 'buddy' sy5rem. Continuous supervision and appraisal of stsff is maintained. Agency workers are engaged only in cases of unexpected short staffing and O￿lY through reputable agcncic5 Wlth whom ¢slablishcd relationships ¢xist. The overall staff turnover for 2024 was 30 %, representing a drop of 5 % on 2023. Managcm¢nt have don¢ w¢ll in having achieved that with a further reduction of staff ttLrnover as al Ihe dale of this report to 250/0. This is in line wilh reports for 2024 from Care England and 'Skills for Care,. organisaiions that gather data for the care sector. Nursing in Chaseley 1$ tar more demanding than elsewhere because the Residents have highly complex needs. The main issues are that care work is demanding and requires sensitiviry. compassion and high levels of responsibility but typically pays only 51igbtly above minimum wage due lo the high costs and limited reveiiue based on bed numbers. These issues arc primarily beyond Cba5eley's control, stemming from broader stNctural and cultural factors. Increasing government funding and proactive planning are urgently needed as the population ages an(Uor needs specialisi care. Minimum wage incrtases push all pay rales up, bul without corresponding rises in care fees from Iochl hut￿oritIeS, available incomc is further squeezed due to restricted bcd revenLie and care homes face even lighter budgets. Al Chaseley our starling pay is slightly above mitLimum wage and we have a ivdge Slruciure that recognises achicvcmenl, experience and Iraining. Overall, in 2024 Chaseley pay rises were variable as we reviewed and raised our nursing pay rales. We then raised all otber staff pay rates in line with the minimum wage increase, tapering it upwaTds Teflectively. Income and costs During 2024 occupancy averaged 53.39 beds, or 97 per cent of 55 re8lStered beds occupied, providing essential regular income for maintaining the Charity's operational a¢livilies. Total incorne increased by £525k year on year (8.70/¢) to £6,569k with nursing and care revenue increasing by £487k (80/0) and Grants decreasing by £16k. Total expenditure increased by £l13k lo £6,193k. Page 4 The Chaseley Trust Trustees, Report The overall sutplus for the year WPIS £376k, compared lo a £36k defi¢it in 2023. Further details are given in the Financial Review section below. ID 2024. initiatives focused on aligning care costs with the increasing complexity of residents, needs, while mauagement priorilised achieving optimal value from suppliers. The managemellt team undertook a comprebeDsive revieiv of various suppliers and service providers, systematically evaluating contracts lo identify potential cost savings without compromising quality, efficiency, or service standards. Recognisitjg tbat cost reduction opporbjnitics for carc homc5 arc inhcrcnily limi￿d, negotiations with utility providcrs rcsulicd in a subslanlial reduciion and refund, which is anticipaled to yield ongoing financial advaniages. Due 10 a narionwidc shortage of care workers. Ihere has been sovne dependence on agency stsff, leading lo higher cosis compared lo pennanently employed personnel. Etforts are ongoing to reduce agency reliance Ihrough ihe expansion of the pcnnancnl Staff team. The Care Quality Commission (CQC) Upon joining. tbe neiv Registered Home Manager, Andrew Burt, quickly recognised Ihe unique challenges of the Gar¢ hotne sector and proa¢liv¢ly engaged an ¢xperi¢n¢ed independent consultsDt ￿ lead a thorough, fu¢e-lo-faLe muck inspeLliun mirroriD¥ CQC proLe55es. This dill￿vertI prepÉirJlitsn rebulied in a delalled. ALliun Plan, ensuring strengths were leverased aDd improvements made before the official review. In O¢tober 2024, th¢ hom¢ proudly achi¢vcd & glowing oulcome-a cov¢l¢d GOOD rating across all fiv¢ CQC dom2il)s. Safe., 'Fff¢¢tiv¢', 'C8ring', 'Rc5ponsiv¢', and 'Wcll Led,. This rcinarkable a¢hi¢v¢m¢nl stands 8$ a testaTn¢nt lo the univavering dedication and le￿Work of our incredible staff, whose commitment to excellet)¢e has truly elevated the stsndard of resident care. Congratulations to ¢veryone who mad¢ this success possibl¢! Awards Chaseley consistently scored 9.8 or more out of 10 throughout the past 24 months on the Care Homes UK wcbsilc. Tn carly 2024, Chascley ivas choscn by ihc Mayor of Easibourne as one of Nyo Easibournc Chorilic$ lo be supported during her time in 0￿1¢¢ and lo be the centre of severnl events, culminating in the Mayors B411 in 2025. We are most grateful to her for ¢hoosing us for two years and raisillg awareness of us within Easlbourne and surrounding areas as well as th¢ incredible work sh¢ did raising fuDds for u5. Chaseley Trust has a long-slanding connection to the Amied Forces, dating to 1946 ivhen we opened to support injured servicemen. In 2024, we achieved Veteran Friendly Framework (VFF) a¢¢rediiarion. recogwsing our cornmikneni to velcrans, care. Tbe VFF-led by the Royal Britisb Legion. Royal Star & Garter and the NHS Veterans Covenanl Healibcare Ajliance-sets slandaTds lor care homes. including personalised care plans, Cov¢nJnl commilments and Ll¢ar sibmposling lo v¢l¢ran support. Chasel¢y musl presenL annuially lo relain accredilation and demonstrate the work we do with and for veterans. As parl of the pro¢¢ss, Ive made several preseatarions lo Royal Star & Garter, oullining our heritage and our leRm of Icn vclErAn volunlccrs ivho havc given thcir limc wcckly for thc past 18 months. Their pra¢tic#l 8UPPOrt h&s saved Chaseley Ihousands of pounds and includes minor building mainlen&nce, hanging and painiing garage doors- over l 00 hours of gardening; repairing a leaning window and a resident's room doors- clearing damaging weeds- making woodivork pieces for aciivities. running weekly karydoke. building planters.. donating materials and planls. repairing lh¢ fishpond and flagpol¢ (and supplying a new nag). running small fundrais¢rs.' and much rnore. The programme benefits both volunteers and residents. For rhe veterans, it restores camardderie, teamwork and a sense of purpose after service.. 'Working here gives me Ihe chance lo be with fellow vets and feel parl of a leam again., For residents, Ihe visils brin¥ companionship and conlinuity. Il's like havin¥ family around, dnd we look forward to seeing Ihem every week." Page 5 The Chaseley Trust Trustees, Report Chaseley's commitmenl also extends lo governance, M.'Aih a seal on the COBSEO Healih Committee lo help shape national veter&n$' care. Our 14R team is eligible lo apply for a Silver employer award, builth'n8 on ihe Bronze recognition received with VFF accreditalion; the Silver would acknowledge a¢live efforts lo encourage veteran applicants and to work with veteran associations to advertise roles. These measures confirm Chasel¢y's ongoing commitment to supporting those who served and deliver clear beoefils across the home. Key p¢rsonnel During Ihe year, two new Truslees joined ihe board. On 19th January 2024, Jackie TTavis who has been a senioT HR professional, guides and assisls our HR depatThienl when needed as well as actively supporting Chaseley ai all board meetings and interim assistance with Board adrninistration. On I st May ivitb 10 years of experienc¢ in Lare home financial managemcnt and dcvclopmcnl, Janet Floyd joined the team. At the ycar-cnd, our long-terni serving Chair and Trustee Gill retired from ihe Board due to ill health and sbe will be ￿try missed. Janet Floyd was voted in by the board to step in as Chair from 1st January 2025. Other new key personnel include ihe welcome additions of Head of Hli Sarah King. Fundraising, Marketing & New Business Manager Patricia Dark nd vur new FaLililies Manauer Lisu Gilleiie. all with exLellenl b4ickbiruund2i in Iheir field. FUL'US fur the new key personnel has been to upgrade ODd review slaffing, r21Stng Chaseley's pmfile, donalions.and social media and upgryading and mAintxining the facililies services and building - more on this further in the report. FlnanclAI revlew After mak•n8 appropriate enquiries, the Trustees have a reasonable expectation that they have adequate resources lo continue to opcrate for ihe foreseeable future and accordingly they ¢onlinue lo adopt a gOIng￿oncern basis in preparing Ihe Financial Statements. Funher details regardin8 the adoption of the 80in8 concern basis can be found in the Accounting Policies. b. Princi Staffing Sta￿1n8 has already been dealt with above but it cannot be overstresscd that, while it remains the case that Care Homes nationally ar¢ struggling to recruit and retain statr. this will remain an acute problem and is one that Chas¢ley continu¢s to improve, Fa¢¢d with a national shortage of care stsff, Chaseley recognized reducing pool of stsff resources as a risk and focused on ensuring thai sufficient staff were alwvays on duty. As a resuli. the Home has continued to fi￿ctiOn without risks to the Residents and 5taff/resident ratios remain witbin the parameters demanded by CQC. althoueh There has been 2 high cost 10 this as much usc has been made of agency staff. In early 2024, and in a determined artempt lo hold and Cul cosis, Andrew Burt negotiated discounied rares with some of ihe agencies used. He approached the ogen¢ies most Irusled by Chaseley and, therefore, most frequently ￿sed. The negoiialion5 were successful and presenled some advantages lo the agencies because Iheir slafT iveff familiar with Chaseley and needed less preparation before working there. For Chaseley, tb¢s¢ stsff n¢eded less instruction and indu¢lion on arrival. Page 6 The Chaseley Trust Trustees, Report For a premium we were able to recruit directly from Ibese agencies transterring tried and tested personnel from agency staff lo p¢m￿DentlY employed slftff on our payroll. Whilst this carri¢d a Cosi initially, Ihe benefil of bcing able to recruit exceptional staff OU￿tIgh¢d Ihe cost as Ihey were already quite familiar iviih the Residents. These discounted rates had a positive effrtl on Chaseley's finances in 2024. Further 10 this. we increased our recrnittnent drive and focused OD building our employment offer to attract rnoie staff who want lo develop their careers within the Chaseley family. In early 2024, th¢ Trustees and thc Rcgistercd Manager dccidcd lo address th¢ problern of staff shortages and rnover head on. They concluded that ihe most effective strategy for atrracling and keeping staff would be lo make training ils focus. Training would be improved, with a reducrion in the now common on-line Iraining used in many Care Homes, to be replaced with more face-lQ-tace training. An eTnphasis on training would have benefits for the nursing staff in particular, bui also Ihe care staff, who report 10 nurses. The aim is lo esthblish Chaseley as d Cenlre for Excellence in neurodisability care and a foLus for professionals who wish lo train and learn iti this sector. The Trustees r¢gard this as a strong means of attrdCtinB and keeping good staff. Fundlng Fundin¥ fur social care in 2024 inrreJ5ed by 70/0 however, wilh bLJffin¥ ¢obts and byeneral infialivn ex¢e£dinb' IOO/•. resources remain constrained in real lernis. The finan¢ial pr¢$sur¢s on care homes ar¢ set lo persist unless gov¢rnment5 lake actt.on to address funding for L￿&1 Authoriti¢s, who commission th¢ majority of care home placements. For instancc, Fast SLissex County Council raised lis fiinding for carc homes by 7¥0 in 2024 yel it has only uplifted fees for the curr¢nt yC8r (2025) by 41/ko. With the minimum wage for workers ovcr 21 rising by 6.70/0, managing stsff costs ¢ontinues to pos¢ significant chall¢ngcs. It is important to note that slaMlOry funding levels vary. For example. Social Services funding can fluctuate between O. loo/￿ and IIP/u, while NHS funding is struCtu￿d such rhat the largest uplifts are allocated lo the lowcsi fcc band8. Unfominarcly. this oftcn mcans Ihal our residenl$-wh05c cthr¢ fccs arc highcsl due 10 th¢ complexity of their disabilities-receive the smallest or no increases. Some individuals. whose weekly care costs mhy reaGh £2,000 and above, receive no uplift at all. Each year, Chas¢ley notifies Local Authorities of the funding increases required to adequately 8UPPOrt their TesideDlS' complex care needs. Howevcr, some authorilics, constrained by their own limiied resources, are L￿&ble to fully meet thcse costs. Whilst Chaseley op¢rat¢s as a ¢hariiy, there are limits lo the extenl we cao subsidise these deficits without impacting on our own financial sustainabiliry. Nonetheless, it is rare IOT US to di5contlDue support for residenls solvly for financial Teasons. Cosi considerntions arc central in discussions with commtssioncrs. which may includc rcsidcnls Ihcmsclves or Iheir families where srale funding is not available. Tlie managemenl learn is conbmilted lo Clarifying the full scope of servlces provided and highlighiin8 our expertise in neurological disorders, braio injury, and rehabilitation. The costs associated with delivering these specialisr services consisleDtly exceed Ihose of most oiher care homes. There is a focused drive lo review currenl fees wilh the local auihorily, especially many bistorically agr¢¢d fecs iyhich hav¢ not b¢¢n increased effcctively aod look at ways to boost iDcom¢ to off¢r better pay, benefits and strengthen our position as a pref¢Tr¢d employer where stsff can eDgage on a long-tem carcer pathway. The f*brie ol the Chaseley bulldlng Chaseley is required 10 provide an environment suitable for residents with increasingly complex care needs. Operating for over 78 years, the building its¢lf is 130 years old and requires ongoing modernisalion and refurbishment. Some improvements, such as shower room upgrades. have been funded through donations as has the refvrbishment of our Casbar- our café bar and resident's lounge. Page 7 The Chaseley Trust Trustees. Report In 2022, 8 surveyor was engaged to conduel a full evaluaiion of the building and develop a 10-year r¢furbisliiiient plan, financeAI in part from income tthd donations. Portions of this work were completed An 2023 and 2024. In early 2024, it became apparent Ihal some upgrades would need io be implemented ahead of schedule. The manager iniliaied a sy8iem for the maintenance deparlmeni 10 address urgenl repairs. The impact of th¢ Covid pandemic result¢d in priorilising daily opeTalions, which affected building maintcnanre due to business isolarion and shuidowns. A health and safety inspection was also carried out, with positiv¢ results and adviLe M.'as sougbi from an experienLed builder regarding rcfurbishmeut plans. A budget for refurbishment, COll5idering cash flow. is bcing prepared with input from the Trustees together with a Tevigion of the Survey Ca￿led out due lo works bcing halted during the Covid years. Current priorities ioclude replacing WiDdouis, upgrading fire safety systems and roof repairs. OUT Facilities Manager has reviewed and continues to review and update, relevant policies and contracts to mainlain compliance with requirements (or urgenl works and rouline maintenance. Procurement policies are followed lo ensure adherence lo purchase slandards, quality and suitability. Additionally mainienan¢e such a$ servicing, cleanin8, of replacement ha8 been completed on key systerns, including Wal¢r supply. air conditioning, bed hoisls. gas and eleciricity, drains, gutters, automatic doors &nd fire prole¢lion equipment. Interior repaintin¥ has ¢ornmen¢ed ond is ongoing and new floonD8 has beeD Installed in sele¢l¢d areas. We are also in the process of refurb]s￿ing our residenls, rooms as funds and room availability allow. Repointing and rcp8irs to the brickivork are finisbed and oulslanding tasks are being addressed based on priority, using repulablc CODtractors who Provide value for money. Throughout early 2025. Several J$s¢ssmenls by qualified conlraclor$ hHv¢ been ¢ommi$sioned io infom the scope of necessary work. Chaseley ini¢nds lo address Ihese needs proactively and in a limely manner, with safety ¢on8idcred a primary ¢on¢¢m. Efforts will also be made io secure don&iions for spccific projocl components requiring funding. Our dedicated volunteers and Veterans have conlribuled significantly by ren0￿&11￿£ and enhancing the gardens and grounds, ensuring the continued renewal of our beautibjl propety. Dlverslfication of Income The Management Team will CQDtinue to look al the potential for Ibe diversification of services and better ulilisalion of the Home, and to exploTe partnershiplsbared cost working with oiher Providers, in parttcular belw¢eD oiilp8tients and the gym. Currently, the NHS locally is unable lo increase it5 funding for oulpatienls due lo ihc shorlagc of its own funds. In 2025, we arc considcring the polcnlial lo expand the numb¢r of roonis by ulilising available space ivithio the home, subject io a SLwveyor's report. . Reserves olic The Trustee$ have revieived tbe Reserves position of the Charity and have taken into consideration the assct5 required to provide for the long-temi care of ils ResideDfS, together with reasonable working capital Tequired giveD their kno￿.]edge of the various funding agencies SUPPOrting the Charity. The Trustees have also made allowance to cover unforeseen circumstances. As at 31 Deccmber 2024. Ihe Charity had Reserves of £3,270k (2023: £2,894k), of ivhich Fr¢e (Unrestricied) Reserves were £1,766k (2023: £1,002k). Page 8 The Chaseley Trust Trustees, Report The T￿stee$ Jre ot. the opinion that, in the longer lerm. Free Reserves (those reserves Available for working capital, development aod the provision of service) should, at a minimum, be al a level whi¢b would cover approximately nine months of the Charitys running costs. As at 31 December 2024, thai amounted to £4,630k (2023.. £4.560k). In the shorter term, the target is lo achieve Free Reserves equivalenl 10 three monilis of the costs of the Cbariry; at 31 December 2024 thai required free Teserves of £1,543k (2023= £1,520k). At £1,766k (2023.. £1.002k) Ihe Free Reserves are £223k above what is considered to be prudent. et Intome l Ex endfiiure The ner surplus for (he year amounted 10 £376k (2023.. deficit £36k). Nursing and carc servibe5 income increased by £487k (8n/o) to £6.387k and tkne related expenditure inLreased by £91k (1.5/ts) to £6,144k. tncreasing permanent styaff numbers improves the continuity &inJ of so over th¢ p45t few year¥, one of the key targets for cost control and rcduclion has be¢n lo rcduce the depend¢ncy on Agen¢y staff. W¢ have suecessfully reduced our agency cost$ as we have Te¢ruited pemianent staff d¢spile the Dational crisis in care home staffing discussed elsewhere in this report and this objective was met and agency $tsff Costs decreased by £138k from £895k to 758k (150/0), We arc airning to T¢duc¢ asency further. at rial In tme Under the Articles of Association, the Charity has Ihe power lo invesr in any way that the Trustees choose. The Trusiees. having regard lo the liquidity requirements of operating the Charity and to the Reserves policy, have operated a policy of keeping available funds in an inleresl-bvaTing deposit account when applicable. Structur¢? govcrnlfftce and managemeht The Chaseley Trust is a company limiled by guarantee and Dot having a share capiial, governed by its Articles of Association which iver¢ originally dat¢d 21 December 2001 and which were amended on 26 April 2016. t r Electl tee No Trusree (Director for Ihe purpose of cOm￿nY law) held my interest in the Company al any lime durin8 Ihe year. For most of 2024. the Board consisted of five Trustees. plus the Chair: Gill Davies Angus Langford Lesley Miles Jackie Travis Clive Garner Jan ￿loyd Page 9 The Chaseley Trust Trustees, Report In early 2024, the board appointed Jackie Travis. an experienced HR professional and Jan Floyd, a fornier Care Home Financial Director with experience in finaoce and home management. These additions address staffing and finaneial challenges in the secror. With Professor Gill Davies stepping down, Chaseley cAn hppoinl two more members. the preference is for one with building ¢xperiise and another with a clinical or neurological background. Trustees are sel¢cled following interviews with the Chair and other Trustees. with post-interview discussions amongst all the Trustees. Ncw Tru$tees are direercd to their legal obligations under Charity and Company law. the conrenl of the Memorandurn and Articles of Association. the decision-making process and are provided with the recent financial performance of the Charity. There is also now a I￿￿tee pack available for any new Injstee wishing to apply, a comprehensive Induction Programme for new Trusiees: providing full infonxalion on Chaseley and its fijnctions, inLluding a tour of the Horne. The Trustees appoint the Registered Care Home Manager to oversee daily operations, delcgaling authority for finance, employmenl and related matters. Th¢ Board retains overall legal and financial responsibilily, T¢Vj¢WS fituocial perfomance monihly and approves the annual budget. The Mana8er reports to Ibe Board in wriling on a monihly qudrierly bJsis, ¢L)mmuaicaleb" re¥ulurly wilh Ihe Chuir, and meeis weekly wben possible. Truslecs mainiain frequent contact iviih the Manager via ¢mail and meelings. In 2024, the Board mel four limes. Chaseley Managemenl has a full Risk Ass¢ssmenl for Ihe home, which is reviewed and updaled regularly, in conjunction with the management. The Risk Assessment is available ai any lime for Trustees lo inspect, and is an agenda ileni al all Board meetings for review and updal¢d as r¢quired. As well as includin8 areas concerning the Nnning of the Board ilself, it attends 10 Ils responsibilities in respeci of overseeing the polenlial for risk in the d2y-to4day running of thc homc. MaDa8emeni focu5es on risk via A daily meeting beThveen senior clini¢al staff to discuss and plan for any problems or difficullics likely to arise. These fakc place al the beginning and end of each shift, as well as on¢ held during the day. An early walk around the ivhole bome fwsi thujg ¢v¢ry morning by the Registered Manager, Quality and Clinical Manager, or Faciliiies Manager. Daily Senior ManAgement Team meeiings to review all aspects of operations and services provided al the bome. We¢kiy risk #nd review r¥porls to the Chair froni th¢ R¢gisier¢d Man88er via email or lelephone, bul more often face-to tace. Monthly slrAff meetings, encouraging Staft lo raise concerns and provide feedback to the Reglslered Manager. Monthly R¢sidenls' mcclings - io provide a voicc for Ih08e using thc homc. Thcse arc on differcnt topics cBch month to cover all departsneni$ and io give Residents a clear voice. Monthly drop-in sessions ro the Manager for stsff to air any viems. Annual survey and quarterly survey5. Exleimal audils for transparency and independence. d. Public benefit The trustees confirm that they have complied with th¢ requiremenls of scclion 17 of the Charities Act 201 I Io have due regaTd lo Ihe public benefil guidance published by Ihe Charily Commission for England and Wales. Page 10 The Chaseley Trust Trustees, Report In preparing the Report and Accounls, Ihe Trustees hove complied ￿11th the requirements set out in that guidance lo report on significant aclivilies and achievemeDlS of the Charity in 2024. The Report is structured in such a way as to set out both Ihe aims and objeclives of the Charity and demonslrales how these were carried out for the publio benefit. Future developments Funding for new equiprnent and the upgradin8 of the building continues lo be the focus for applications lo major donors in 202412025. Our new Fundraising. Marketin8 & New Busines5 Manager has been tasked witb obtainios 8ranl8 and hclp to flnance our nccds - sec more fiuther below. The Trustees did not plan ¢0 extend the Home in 2024 bul will continue. during 2025, 10 assess the viability of such acliou, possibly using available space LD the area adjacent to th¢ ¢aT park at the rear of lh¢ building. Meantime, more tbought is being given to the efficient use of space internally, with tbe possibility of creating a few cxtra bedrooms, which would improvc th¢ home's incomc. During 2025 ivc have startcd io dcvisc our new Business Siralegic Plan. This involves ivorking iviih the users of our service and en¥aging with our key slaff.to ensure we are designins our fulure more Ihoroughly. Fundamentslly, we are focusing on who we are, what we. do and how we can improve our service, offering, fa¢AIAiies and buildin8'. The mission of rh¢ Trust remains true to the original objects of th¢ charity as cstablish¢d in 1946, notiog that the main audien¢e at thai lime w¢r¢ military personnel.. To provide specialist care to individuals over 18 years of age with complex neurological condifions. A centre of excellence in $pecialisl care for adult$ with complex neurological ¢ondilions. Val Wc make a difference Enabling our residcnts to live thcir bc5t livcs by providin8 high qu81ity, kind and safe carc, re.$pe¢tin8 IhLir rights as individuals aod eftLouraging tbeir independence. We slrive for excellence Seeking ways to improv¢ ill all that w¢ do, lisl¢ning lo Ihc vi¢ws of our residenls, Ih¢ir fatnili¢s and our slarr, and conliDuing to look for aew and bcller ways to do things, • We are one Chaseley team Respecling the viev¥'S and contrlbulions of everyone who works ai Cbaseley, Supporting each other. embracing new ideas. developing che skills of our staff and celebrating their achievements. We look afler our r¢sour¢es Recognising our charitable obligations. we are careful with our resources, looking for best value. maximising etricienoy and eftectiv¢ne$s while neveT Compfomising on the high44uality care we provide to our I￿¥dents. Pagell The Chaseley Trust Tru5t¢e$' Report Informatlon on fundraising pracdces FundrAlslng Compllanee Statement In rhe year, the TnLsI undcrlook ￿ndraISing Ihrough grdnts and Trusts, community and cvcnls fundraising. corporate parrnerships, individual giving and donations in kind. We did not engage any commercial participaioTS and did not engage eyrernal professional fvndraisers. Where third parties supported our events, they acied under our direction and did not retain a share of proceeds. We are registcred with and follow the FuTJdraising Rcgulator's Code of Fundraising Practice. We monitor updates lo the Code alld apply them to our policies and training. All staff aad volunteers involved in fuDdraising are trained on our fundraising policy. data prote£tion. safeguardiog and the Code. I"tsird-party'supporters are provided with wrirten guidance and are spot. Ihe Companies Acl 2006 In our opinion. based on ihe work undertaken in the course of Ihe audit.. the information given in the TNslees' Report for Ihe financial year for which Ihe financial stsiements are prepared is consislent wilh ihe financial staiemenis. and rhe Tn]st¢cs' Rcport has been prepared in accordance with applicable legal requirements. Matters on whleh we are requlrtd to report by exeepdon In ihe light of our knowledge and undersL￿ding of the charity and its environment obtaioed in the Course of the auth't, we have not idcntificd material ttiisststements in the Trustees, Report. We have nothing to rcporl in respect of the following matters where the Companies Act 2006 requires us to Teport to you if. in our opinion.. adequ￿¢ accounting records have Dot been kept, or retLm)s adequaie for our audit hav¢ Dot b¢en received from brdnches not visited by us. or Ihe fuiancial slalements are nol in a8r¢ement ivith tbe a¢¢ounting re¢ord$ and re￿rns. or cenain disclosures of trustees remuneration specified by18w are not mad¢; or we have not received all the inforn)ation and explanations we require for our audit. Responslbllltles of truslees As explained more liilly in the Siatcmcnl of trustees, r¢5ponsibililie$ (set out on page 14), the Iruslees are responsible for ihe preparllion of the financial slalemenls and for being satisfied ihal Ihey give a true and fair view, and for such internal control as the trustees dcl¢mine is necessary to enable the prcparalion of financial staiements that are free from material misslalement, whether due lo fraud or error. Iji preparing the fmancial s¢al¢meiils, the tNsle¢s arv responsible for asse59iug the charity's ability lo conrinue as a going concern. disclosing, as applicable, matleTS related lo going CODCCTn aDd using the going concern basis of accounting unlcss Ihe twstees either inlend 10 liquidate the charity or to cease operations, or have no realistic aliernativc bul to do so. Auditor rtsponsibilities for the audit of the financial gtalements Our objeciives are lo obtain reasonable assurance aboul whether the financial siatemenis as a whole are free from n)aterial misstatement, whether due lo fraud or e￿Or, and lo issue an auditor's report that includes our opitiion. Reasonable assurance is a higb level of assurance, bul is not a guarantee that an audit conducted iti a¢¢ordance with ISAS (UK) Ivill always delecl a tnalerial misstatement when il exists. Mi5slatements can arise from fraud or crror and ar¢ ¢onsid¢r¢d m8l¢rial if. indlvidually or in Ihc aggrcgalc. Ibey could reasonably be expected to influence the economic decisions of users taken QD the b&sis of Ihese flnancial statements. The exlent io which our pro¢edures are capable of detecting irregularities. including fraud is detailed below: Page l6 The Chaseley Trust Independent Audltor's Report to the Members of Tbe Chaseley Trust The detection of fraud and iiregularilies is a primary consideration of the audit planning and is carried through lo the audit completion stage. A risk Assessment and preliminary ￿alYtICal review is undertaken at the planning stage and areas of concern are then built iDto Ibe audit strategy and testing lo ensure sufficient procedures and evidence is obtained 10 give comfort that material irregularities and potential inslances of fraud are delecled where possible. With 2024 being our first year of auditing the Chasel¢y Trust opening balances were also specifically lesrcd where possibl¢ to try an CDSUTe comparablc dats and to gain assuranc¢ thai 2023 relevant balances bave been r¢v¢rsed or cleared in 2024. The audit teani is bricfed regarding any areas or concern, the potential audit risks and consequential impact. The audit team remained vi8ilallt throughout their work and made enquiries of key management and finance personnel throughout. The Chaseley Trust's key management and tinance personnel were consulied on any known or suspected breaches in laws and regulations along with misappropriation of ￿ndS at both the planning and completion stages of the audit. Due Consideration w&s given to the possible use ofmanagement override and this was built into our audit strategy. The iniltal risk assessment kn'ghlighted a polenlial show 5￿pper being ol. nonlee The notes on pages 22 to 37 fom JD integral part of th¢5e financial slaternents. Page 20 The Chaseley Trust Statement of Cash Flows for the Year Ended 31 December 2024 2024 2023 Note Cash now5 from operatlng a¢tlvlile$ Net cash inComeJ(exp¢nditu￿) 376,130 (36,481) Adjustments to cash tlojvs from non-eash Stems Depreciation 126,932 111,205 503.062 74.724 Worklng capltal Adjustmenls D¢¥rea5e/(increase) in debiors InLrea5e in creditor$ Increase in provisioDS 15 17 2.523 32,420 44.269 (149.622) 184,461 32,570 N¢t cash flows from operating activities 582,274 142,133 Cash flows from Investfing actlvltles Acquisition5 of tangible assels Net increasc in cash and cash equivalents Casb and cash equivalenis al l January (106,559) 77.223 475,715 64,910 775 563 710,653 Cash and cash equivalents al 31 December 1,25 1,278 775,563 All ot. the ¢ash tlows are derived from continuing operations during the above two periods. The notcs oll pagcs 22 to 37 form an integral part of th¢se finanLial stalcrnents. Page21 The Chaseley Trust Notes to the Financial Statements for the Year Ended 31 December 2024 I Charlty 5tatu$ The chdrity is limited by 8uaranlee, incorporated in and ¢onsequenily does not have Sha￿ capilal. Each of the trustces is liable to contribut¢ an amoLmt not ¢x¢¢edin8 £1 towards the ass¢ts of the charity in the ¢vcnt of liquidation. The address of lis registered otTice is.. The Chascley Trnsl South Clitl Eastbourne E&8t Susscx BN20 7JH 2 A¢Luuntln¥ pullcles Summary of significant accountlng polici¢$ 2nd key accountlng estimates The priD¢ipal accounling policies applied ID the preparation of these f￿ancial sialemenls are sel out bclow. These policies have been consistently applied to all Ihe years preseDted. unless otherwise slareit Statement ofcomplianre The finaocial stst¢m¢nrs have been prepared in accordaoce with Accounting and Reporting by Charities.. StatemLnl of Recomm¢nd¢d PraLliL¢ (appli¢&ble lo charities preparing tlicii accounts in accordanc¢ with Ilie Financial Reportin8 Standard applicable in the UK and Republic of Ircland (FRS 102)) (issued ID October 2019) (Charitics SORP (fRS 102)), the financial Reportin8 Standard applicable ui tbe UK and Republic of Ireland (FRS 102) ond the C.ompanic.8 Aci 2006, Basis of prepwrltion The Chaseley Trust meets the definition of P4 public benefit entity under FRS 102. Assets and liabililies a initially re¢ognised at historical cost or transaction value unless otherwise sialed in the relevanl accounling policy notes. Goln% tontern The trustecs consider ihal there are no material uncertainties about the charity's ability lo cootinue as a goin8 concen) nor any significanl areas of uncertainty Ibal atTecl the carrying value of assets held by the cbarity. Income and endowmeDts All income is recogni5ed once the charity has enliilement to the incorne, it is probable that the it)come will be rcccivcd and the amounl of the incomc rccciv8bl¢ Can be rn¢asured reliably. DunAtivnJ and lexaL'ieb Donations are recognised when Ihe charity has been notified in writing of both the amount and settlement dale. In Ihc ¢v¢ni Ihat a donation is subjccl ro conditions Ihal rcquirc a level of performancc by rhe charily bcforc Ihc chariry is entiiled lo ihe funds, the income is deferred and nol recognised until either those condilions are fully mel. or the fulfilmeni of those conditions is wholly within the control of the charity and it is probable that Ihese condilions will be ￿lfilled in the reporting period. Page 22 The Chgdseley Trust Notes to the Financial Statsments for the Year Ended 31 December 2024 Grants receivable Grants arc recognised ivhen the charity bas an entitlement to the funds and any conditlODS linked to the grants have been met. Wbere perfomncc conditions are atta¢hed to the grant and are yet to be rnel, the income is r¢¢ognised as a liability and included OD the balance sheet as deferred incom¢ to b¢ r¢l¢8s¢d. D¢f¢rr¢d income Deferred income represents amounts received for fijture periods and is released to incoming resources in the period for which, it ha5 been r¢¢¢iv¢d. Such income is oll]y deferred when: The donor specifics that the grant or donation must only be used in fijture accounting periods; or The donor has imposed conditions which must be mel bet.ore the charity has unconditional entitlement. The funding period of Resident crosses into ihe next financial year. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, il Is probable settlement is r¢quir¢d aDd tb¢ JMOUDI ¢#n be m#asur¢d reliably. All LOSIS are allocated to the upplicable expenditure heading that aggregale similar costs lo Ihal category. Where costs cannot be directly allribuled to particular headings they have been allocated on a basis consistent with the use of resources. wilh ¢entral staff costs allocated on the ba8is of lime spent, and depreciation charges allocated on the porlion of the a8set's use. Other support cos¢s are allocated based on ihe spread of staff costs. RaiJiiixfuiidJ These aro cc)$ts incurred in attracling voluntary incomc, the managemcnl of invcslments and those incurred in trading activilies thai raise funds. Ch4ri¢able octiviti Charilablc cxp¢ndi¢ur¢ comprises those costs incurr¢d by thc charity in thc delivcry of ?Is activilics and services for its benelici84ries. It includes both costs ihai can be allocated directly lo such activities and those costs of an indirect nature necessary 10 suppon them. GovernAnce costs 'I'hese include the costs attributable to the charity's compliaft¢e with Constitutional and sta￿tOry rcquiremcnls, including audit, qtratcgic managcment and tn￿tCe8 mcetings and reimbursed cxpcnscs. Taxation The charity is considered lo pass the tests sel out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meels Ibe defmition of a cbaritable company for UK corporation lax purposes. Ac¢ordinRIy* the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax A¢t 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to thc extcnt that such incornc or gains arc applied cxclusivcly to charilablc putpos¢s. Tanglble flxed assets Individu