Registered number: 04712756 Charity number: 1097723 CARERS NETWORK WESTMINSTER IA company limited by guarantee) TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CARERS NETWORK WESTMINSTER IA company limited by guarantee) CONTENTS Page Reference and adminislralive details Rèport of the Board of Trustees Independent Examiner's Reporl 10 statement of Fln8ncial Activities Balance sheet and Declaratio 12-13 ststemenl of Cash Flows Notes to the Financial Statements 15-24
CARERS NETWORK WESTMINSTER IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 The Board of Trustees Nadia Taylor (Chairl Charles Adeniran Siobhan Duffy Sarah Findlay Mary Larkin David Lewis Linda McHugh Patricia McAllisler Jennifer Nel Rosalind O'connell Genevieve Peallie Theresa Thomas Irelired 1 December 20241 Iresigned 2 December 20241 Iresigned 28 Novernber 20241 (resigned 28 November 20241 Iresigned 1 December 20241 lappoinled 23 January 20251 lappoinled 23 Janu2ry 20251 (resigned 17 December 20241 lappoinled 23 January 20251 (resigned 23 January 20251 Company Secretary Deirdre Goss Chlef Executive Offlcer Brian Jones Registered Office Office 8, Beethoven Centre Third Avenue, London W10 4JL Independent Examiners Ward Williams Belgrave House, 39-43, Weybridge, Surrey KTI 3 8RN Monument Hill. Bankers Unily Trust Bank PIC Four Brindleyplace Birmingham B1 2JB Nallonwide Building Soclety Nationwide House Pipers Way Swindon SN38 1NW Aldermore Bank PLC 1st Floor, Block B Western House Lynch Wood P8terborough PE2 6FZ Redwood Bank Limited The Nexus Building Bioadway Lelchworlh Garden Cily Hertfordshire SG6 3TA Close Brothers Group plc 10 Crown Place, London EC2A4FT Company number 04712756 Charity number 1097723 Solicitors Robinson Wilson Solicitors Selbourne House, 36A Elgin Avenue, London W9 3PR Page 1
CARERS NETWORK WESTMINSTER {A company limited by guarantee) TRUSTEE'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annuBI report together with the financial slalements for the year ended 31 March 2025. Comparativè figures are those for the year ended 31 March 2024. Introductlon from the Chair l am pleased lo present our Annual Report and Accounts for the year under review. This has been a year of both continuity and progress, as we have continued lo deliver vital support for carers in our community during a period of considerable ohallenge across the wider health and social care landscape. One of the rTtosl significant developments duTing the year was the Continued conlid&nce shown by our commissioners, who extended our contr8cls to ensure stability of services for those who rely on us most. These extensions are not only a reflection of the quality and reliability of our work, but also ol the trust placed in us as a valued partner in delivering support across our boroughs. Comrnissioners, willingness to extend Contracts in such a testing fi'nancial environment demonslrales their recognition of the impael we have and the essential nature of our services. Throughout this period, our dedlcaterl staff team and volunteers have shown remarkable resilience. commitment, and professionalism. Thelr efforts have ensured that earers and their families continuèd to have access lo the infoimalion, advice, and support they need lo manage their responsibilities and to maintsin their own wellbeing. On behalf of the 8oarcl of Trustees, l extend our sincere thanks lo all those who have gone above and beyond in supportlng our mission. We know that carers often experience significant pressures, both practical and emotional, in tulfilling their roles. Over the past year, we have sought to strengthen our offer by listening closely lo their voices and ensLJring that our services respond directly lo their needs. From peer support groups lo tailored advice sessions, our work has remained rooted in empathy, understanding, 2nd a commitment to delivering real outcomes lor those we serve. This has also been a year In which we have taken steps to prepare for the future. The Gommissioning environment remains Ljncertain, with councils and stalulory partners facing finanGiaS pSSUre$ of their own. Nev6rlhèless, we have worked proactively lo diversify our income base, strengthen our governance, and plan slralegic811y for the years ahead. The Board is commilled to ensuring the long-term sustainability of the organisalion so th81 carers can conllnue lo rely on us with confidence. Collaboration remains central lo our approach. We are proud of the partnerships we have built with local aulhorilies, health providers, communlty organisalions, and national neNvorks. These relationships have enabled us to reach more carers. innovate in our services, and raise the profile of carers, needs at every level of decision- making. 11 is through such collaboration that we amplfy the voice of carers and ensure they remain firmly on the agenda. Page 2
CARERS NETWORK WESTMINSTER {A company limited by guarantee) TRUSTEE'S REPORT Icontinued} FOR THE YEAR ENDED 31 MARCH 2025 Looking fopNard, the Board is ambitious for the future. We recognlse that the role of carers is increasingty vital in our society, and that the challenges they face are evolving. Vvilh a strong and committed staff team, the confidence ol commissioners, and the support of our partners, we are well placed lo continue making a meaningful difference. We will build on the trust placed in us, seek out opportunities lo enhance our impact, and remain steadfast in our mission to ensure every carer is valued, supported, and heard. I would like lo thank my fellow trustees for their dedication and guidance throughokjl the year, and to pay tribute once again tD our staff, volunteers, arTrd partnèrs. Above all, I want lo acknowledge the carers themselves. Their resilience, compassion, and delerminalion inspire everything we do.11 is their voices and experiences that drive us forward and remind us of the importance of our role as an organisation. This report reflects a year of slabilily, growth, and preparation for the future. Vvhile challenges undouhledly lie ahead, l am confident that, together, we are equipped not onty lo meet them, but lo continue thriving as an organisation that makes a real and lasting difference. Nadla Taylor Chalr Page 3
CARERS NET4VORK WESTiVIINSTER IA company limited by guarantee) TRUSTEE'S REPORT Icontirjued FOR THE YEAR ENDED 31 MARCH 2025 CEO Foreword 11 has been a year of both reflection and renewal for Carers Network. As we look back on 2024125. 1 am immensely proucR of how our team, volunteers, Iruslees, and community partners have continued lo come together lo support unpaid carers across Weslminster, Hammersmilh & Fulham, and Kensington and Chelsea. Every day, we witness the quiet resilience, compassion, and strength of C8rers--often invisible in society who make extraordinary sacrifices for their loved ones. Our MS1On is to ensure they are not only seen bul heard, supported, and empowered. This year, we've continued lo deepen our reach, support rn0 carers in MO meaningful ways, and build new partnershlps that bring fresh opportunities. From the expansion ol Dur End-of-Life project lo impaclful collaborations with cultural partners like the Bush Theatre and English National Opera, we've seen the power of creativity, compassion, and connection in action, We also recognise the Challenges. Funding remains light, the cost of living continues to affect the carers we support, and our core contracts are due for retender in the year ahead. However, we remain resilient and fDrward- looking. Vve have worked with our local authority partners to co-produce a new strategy for caTers and have fi'nalised our own interim refreshed organisational strategy to ensure we remain relevant. inclusive, end ambitious. Our social media engagement has doubled, our digital sessions remain strong, and our in-pgrson support is being delivered with ever greater reach and responsiveness. We're proud that our services continue to receivg excellent feedback. not just for what we do, but for how we do il-wilh empathy. respect, and a commitrnenl to equity. I would Ilke to extend my deepest thanks lo our funders, donors, 8nd supporlers-especially those who ran marathons, hosted events. or gave gifts in kind. l also want to thank our dedicated staff le8m and our exceptional volunlettrs. Finally, thank you to o(Jr board of trustees for theii strategic insight and sleadfasl commllmenl lo our mission. As we move into 2025126, our resolve is clear., to connect with even more hidden carers, amplify their voices, and ensure every unpaid carer has the support they need to Ihrive-not just surviv8. Brian Jonès Chief Executiv8 Page 4
CARERS NETWORK WESTMINSTER (A company limited by guarantee) TRUSTEE'S REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2025 Objectives and Activities Purpose Carers Network supports unpaid carers across the City of Westminsler, the London Borough of Hammersmilh & Fulham, and Ihtr Royal Borough of Kensington and Chelsea. We provide a wide range of services that ernpower carers and enhance their wellbeing. These include advice and guidance, aCsS to financial and emotional support, training, counselling, and communily-based engagemfjnl. We are committed to reaching hidden carers individuals who may not recognlse themselves as carers and ralsing public awareness of the essenti81 role carers play in the health and social care system. Mission, Vision and Alms Our mission is lo support unpaid carers and improve their quality of life. Our v15ion is a Society where every unpaid carer is recognised, valued, and enabled lo lead a healthy and fulfilling life. Public Benefit Carers Network delivers tangible public benefit by reduclng isolation, improving wellbèing, 8nd enabling Car$ to remain in or return lo work. This relieves pressure on slalulory servi¢es and impToves outcomes for the people they care for. The Trustees confi'rm that they have complied with their duly under section 17 of the Charities Act 2011 to have due regard to public benetil guidance published by the Charity Commission. Services Carers Netmork supports unpaid carers by providing the following services.. 1. Information andAdvice We provide a high-qualily helpline. in-person support, and online access points lo ensure carers receive relevant, accessible information. In 2024125, we responded ID 2,033 individual enquiries - a reflection of both ongoing need and the ttust carer8 place in us12023124- 1,455 enquiriesl. Through our website, wookty e-newsletlers, and active social media presence, we shared content on carers, rights, financial support, and wellbeing. Notably, our social media engagement doubled across all platforms, with Instagram and Facebook le8ding growth. 2. Carer's Assessments Carers Network remains a trusted delivery partner for slalutory CaTerfs Assessments across our three boroughs. In 2024125, our team completed 1,184 assessmenls 12023124 - 1,0281, securlng over £473.810 in persona1 budgets for eligible carers- supporting tsilored solutions to IheiT uniqu& silualions12023124 - £450,065) Page 5
CARERS NETWORK WESTMINSTER (A company limited by guarantee) TRUSTEE'S REPORT Icontlnued FOR THE YEAR ENDED 31 MARCH 2025 3. PractlC81 and emotion81 su ort Our wraparound SUPPOTI otter includes counselling, peer support, WOTkshops, and liaison wllh health and care partners. This year's programrne included monthly wellbeing workshops, legsl planning sessions, and specialist ondilion-based groups. Feedback from oarers remains ovenmhelmingly positive. 4. Small ersonal rants We supported carers in securing individual grants for respite. specialist equipment. and wellbeing aids, working with local and national funders. 5. AdtroGac We worked collaboratively with NHS and local authority partners lo represent carers. views, influence commissioning, and promote carer-cenlric policy and service delivery. 6. Carer Involvem We facililaled 12 Carers Forums across the boroughs, maintaining strong allendance and helping shape services. These events are increasingly viewed by partners as essential engagernent platlomis. 7. Social En emenl Social ¢onne¢lion is central lo carer resilience. Over the year, we delivered 143 online events. supported 48 coffee mornings, and maintained speckqlist groups including our v8lued Male Carers Social Group. Highlights of Carets Week included a series of cultural and heritage visits, and a recepb'on hosted by the Lord Mayor of Weslminsler. Innovative projects likè Yhe Illusion. with the Bush Theatre demonslraled how creative partnerships can unlock Confiden and joy. Weekly guitar and self-led arl classes have bectsme well-altended staples of our offer. Achlevements and Performance In 2024125 Carers Network major achievernents were as follows.. Carers supported.. 2,812 carers, representing a 4V• increase from last year123124.' 2,6971. New carers identified.. 493 new ¢arer8, representing 8 5Vty increase from12sI year123124,' 4701. End of Life Project., 160 carers through the End-of-Life Projecl123124.' 186 carers) Social media growth.. Linkedin follower and engagement growth across platforms. Carers Found project,. Continued outreach via LGBTO+ BAME and housing organisalions helped entify hidden carers and build trust in underrepresented Communities. Page 6
CARERS NETWORK WESTMINSTER IA company limited by guarantee) TRUSTEE'S REPORT Icontlnuèd} FOR THE YEAR ENDED 31 MARCH 2025 Fundraising 2024126 has been a strong year for fundraising, with continued support from.. Henry Smith Charity and National Lottery CDmmunty Fund - enabling expansion of our End-of-Life support prpject. City Bridge Trust and Garfield Weston Foundation - extending our Carers Found project. Valesco GTOLJP Thè Lord Mayor of Weslminsterfs Campaign- raising over £11,000, including the London Marathon and Royal Parks Ha Marathon runners. Gifts in Kind 150 carers allended opera performances through the English National Opera's Community Scherne. We thank all donors, Irusls, snd communlty supporters whose generoslty allows us lo do more for ¢arers each year. Volunteering Our volunteers remain vital lo delivery and innovation. From befriending calls and Yoga sessions, their ¢onlribulion is meaningful and diverse. The benefits are mutual volunteers report improved confidence, wellbeing, and personal growth, Our Strategic Direction Carers NeOrk remains firmly commillec¢ to delivering high-quality, impacllul services through our commissioned contracts, ensuring unpaid carers receive the support they need lo thrive. Alongside this, we ale prioritising the expansion of social and peer-led opporlunilies creating more spaces for carers to meet. connect, and bu1 supportive relationships with others who understand their experiences. Al a strategic I$v81, we are focused on growing the organisalion sustainably - extending our reach, strengthening our partnerships, and identifying new opportunities to secure fundirlg and deliver innovative services. This dual focus-on deepening the quality ol existing support and broadening our offer-ensures Ihatwe continue to meet the evolving needs of our divèrse carer communities, while securing a strong lulure for the organisalion. Equality> Diversity & Incluslon We remain committed lo reflecting the communities we serve. 720/0 of carers we support are women, ané our reach spans carers from diverse ethnic, age, and cultural backgrounds. Our staff team of 19 reflects this diversity, with team members speaking over five community languages. Page 7
CARERS NETWORK WESTMINSTER (A company limlted by guarantee} TRUSTEE'S REPORT lcontinuedl FOR THE YEAR ENDED 31 IViARCH 2025 Financial posltlon Income.. £758,767 Ireduclion from £795.099 in 2023124) Expendllure.. £831.879 (increase from £757,887 in 20231241 Deficit.. £73,112 (23124 £37,212 surplus) Free reserves.. £539,009- meets our 6-monlh opèrational larget123124 - 567,9951 Despite a modest deficit, reserves remain strong and operations sustainable. We are pro8clively managing incomè diversification and cost Control ahead of 2025126 contract relenders. Reserves Policy and Going Concern Our reserves policy remains unchanged. Tmslees conlinue to monitor financial risks closely, 8nd the charity is judged to be a going concern with sufficiènt resources lo continue service delivery. Rlsk Management Our Finance & Risk Subcommillee meets quarterly lo review the Risk Register. All risks are assigned controls and miligalions, with escalation proloGols in placè. Strategic risks Include funding 8UStainabilily and contract retendering. Governance Carer5 Network is governed by a skilled, diverse board of trustees with appropriate overslghl, induction. and access to Ir8ining, Vve remain cornmitled lo best pfftcliGe in governance, compliance, and transparency. Appointmènt of Trustees The charity's conslilulion sets the number of Iruslees between lour and flfteen. Trusle6s are elected by members at the Annual General Mèeting and serve a Ihree-ye2r term. Prospective Iruslees are interviewed by a panel of existing board rNembers, who consider how each caTrdidale's èxp2rience, professional expertise, location, and understanding of the care landscape will contribute lo the ¢harily's elfectiveness. We actively seek individuals whose skills and insights strengthen our governance and supportdelivery ol our mission- maxlmising the support we provide lo unpaid carers while advanoing our slralegiG growth agenda. Trustee Inductlon and Development New Iruslees recelve a comprehensive induction designed lo equip them with a clear understanding of the charity's purpose, governance. and operations. This includes an overview of our Articles of Association, strategic priorilies, budget. audllecl accounts, and organisalional slruclure. Trustees are also briefed on their legal duties and responsibilities under charily law. Ongoing development is encouraged, with access lo external training and resouTces through local infraslru¢lure bodies such as One Weslminsler, Kensington and Chelsea Social Council, and SOBUS, as well as national governance organisalions. This ensures our board remains skilled, informed, and allgned with best practi. Page 8
CARERS NETWORK WESTMINSTER (A company IirnTted by guarantee) TRUSTEE'S REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2025 Related Party Transactions There were no related party transacllons during the reportlng perlod that require disclosure. Partnerships and Networks Carers Network is proud lo be a member of Carers Trust and Carers UK, contributing to collective efforts to champion carers, rights and influ8nce policy change. We are also acGredilèd by the Living Wage Foundation, reflecting our continued commitment to SOCI81 v31ue and fair pay. These partnerships amplify our voice and ensure we remain connected to wider movements that align with our values and ambitions. Independent Examiner Ward Williams were appointed as independent examiner to Carers Network Westminster during 2025 and 2 resolution proposing that they be re-appDinted will be pul fotwsrd at the next Annual General Meeting. This report was approved by the Board of Trustees and signed on their behalf by.. Nadla Taylor Chair Dale 15 October 2025 Page 9
CARERS NETWORK WESTMINSTER IA company limited by guarantee) INDEPENDENT EXANIINER'S REPORTTO THE MEMBERS OF CARERS NETWORK WESTMINSTER I report lo the Iruslees on my examination of the financlal slalemenls of Carers Network Weslminslar Ithe charity) for the year ended 31 March 2025. Responsibilltles and basls of report As the trustees of the charity land also ils directors for the pu¥poses of company lawl you are responsible for the preparation of the financial slalements in a¢cordance with the requirements of the Companies Act 2006 Ithe 2006 Acll. Having sallsfied myself that the financial slalemenls of the charity are not required lo bè audited under Part 16 of the 2006 Act and are eligible for indep&ndenl examination, I report in respect of my examination of the charity's financial slalements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my examination I have followed all thè applicable DirecliDllS given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement I have CDmpleted my examination. I confirm that no matters have come to my allenlion in connecllon with the examination giving me cause lo believe th8t in any material respect., a¢counting fftcords were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial slalemenls do not 8ccord with those records., or the financi81 statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a maller considered as parl of an independent examination., or the financial slalements have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities spplicable lo charities preparing their accounts in accordance wrth the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination lo whSch attention should be dmwn in this report in order lo enable a proper understanding of the financial statements lo be reached. Colin Hamilton A CA Ward Willlams Belgrave House 39-43 Monument Hill Weybridge Surrey KT13 8RN Dated..Ilt Octobèr 2025 Page 10
CARERS NETWORK WESTMINSTER {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlcted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Note INCOME FROM.. Chari18ble activities Donations and legacies Investments 728,189 10,483 15,895 728,189 14,683 15,895 765,885 16,457 12,757 4,200 TOTAL INCOME 754.567 4,200 758,767 795,099 EXPENDITURE ON: Charitable activities Raising funds 770,825 12,728 48,326 819,151 12,728 747,937 9.950 TOTAL EXPENDITURE 783,553 48,326 831,879 757,887 NET INCOMEIIEXPENDITUREI {28,986} 144,1261 173.1121 37,212 Transfers bebween Funds NET MOVEMENT IN FUNDS {28,9861 144,1261 173,1121 37,212 Total funds brought forward 567,995 108,097 676,092 638.880 TOTAL FUNDS CARRIED FORWARD 539,009 63,971 602,980 676.092 The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derwe from continuing acbvilies. The notes on pages 15 10 24 form part of these financial statements Page 11
CARERS NETWORK WESTMINSTER IA company Ilmited by guarantee) BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Note FIXED ASSETS Tangible assets 10 18,676 13,985 CURRENT ASSETS Debtors Cash al bank and in hand 11 123,200 486,563 16,869 679.261 CREDITORS.. 609,763 696,130 Amounts falling due within one year 12 125,4591 134.0231 NET CURRENT ASSETS 584,304 662,107 TOTAL ASSETS LESS CURRENT LIABILITIES 602,980 876.092 CHARITY FUNDS Reslricled funds Unrestricted funds 15 15,16 63,971 539,OD9 108,097 667,995 TOTAL FUNDS 602,980 678,092 Page 12
CARERS NETWORK WESTMINSTER (A company limited by guarantee) TRUSTEES DECLARATION The company is enlilled to th8 exemption from the audit requirement contained in section 477 of the Companles Acl 2006, for the year ended 31 March 2025. No member of the company has deposited a notice, pursuant lo section 476, requiring an audit of these financial slalemenls. The Iruslees acknowledge their iesponsibilllies for ensuring that the charity keeps accounting records which comply with seGlion 386 of the Act and for preparing financial statements which give a truè and fair view of the stale ol affairs of the company as al the end of the financial year and of its incoming resources and application of resources, including ils income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwi56 ¢omply with the requirements of the Cornpanle5 Act 2006 relating lo financial statem8nts, so far as applicable lo the company. These financial statements have been prepared in accordance with the provisions applicable lo companios subject lo the small comp8nies regim8, The financial slalemenls were approved by the Trustees on October 2025 and signed on their behalf, by- 1S.tO. loi Nadia Tayl Chair Company Reglstralion No. 04712756 The notes on pages 15 to 24 form parl of thesè financial statements. Page 13
CARERS NETWORK WESTMINSTER IA company limited by guarantee} CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Net cash flow from operating activities 17 1194,5211 72,103 Cash flows from Investing activities: Payments lo acquire tangible fixed assets Payments lo dispose of tangible fixed assets Interest received 113,911} 11611 15,895 113.8771 12651 12,757 Net cash from (used inl investlng activities 1,823 11,3851 Net Idecreasellincrease in cash and cash equivalents 1192,6981 70,718 Cash and cash equivalents as al 1 April 2024 679,261 608,543 Cash and ¢a8h equivalents as at 31 March 2025 486,563 679,261 Cash and cash equivalents conslst of.. Cash at bank 486.563 679,261 Cash and cash equivalent5 carried fomard 4B6.563 679,261 The notes on pages 15 to 24 f()rm part ol these financlal slatemenls. Page 14
CARERS NETWORK WESTMINSTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES a) General information and basis of preparatlon Carers NeorK Weslminsler is a registeTed charity (Charity number.. 1097723,. Company number.. 047127581 limited by guarantee in England & Wales. In the event ol the ¢harily being would up, the liability in respect ol the gllaranlee is limited to £1 per merllber of the Gharily. The address of the registered office is given in the Gharlty information on page 1 of these financial statements. The nature of the charity's operations and prlncipal activities are lo provide Bore services of information, 8dvice and support to all unpaid carers and Ihelr families in the City ol Weslminster. the London Borough of Hammersmilh and Fulham, and the Royal Borough of Kensington 2nd Chelsea. The charity conslilules a public benefr't entity as defined by FRS 102. The financhql statements have been prepared in accordance with A¢¢ounling and Reporlino by Charities.. Statement of Recomrnended Practice applicahle to Charities preparing their accounts in accordance with the Financial Reporting standard appliG8ble in the UK and Republic of Ireland issued IFRS 1021 issued in October 2019, the Finanoial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011, the Companies Act 2006 and UK Gènerally Accepted Accounting Practice. The financial statements are prepared on a golng concern basis under the historical cost convention, modified lo include certain items al fair value. The financial ststements are prepared in sterling which is the functional currency of the charity and rounded lo the nearest pound. The significant accounllng policies applied in the pieparalion of these statements are sel out below. These policies have been consislenlly applied to all years presented unless otherwise staled. b} Fund a¢counting The charity maintains various types of funds as follows.. Restricted funds Restricted lunds represe1 grants and donations received which are alloc31ed by the donor for specific purposes. Expenditure that rneets these criteria is charged lo the fund, together with a fair allocation of SUPPOrt costs. UnrestriGted funds - Unrestricted funds represent income which is expendable at the discretion of the Trustees in the furtherance ol the objects of the charity. c) Income Donations and similar incoming resources are included in the year whlch they are receivable. which is when the charity becomes enlilled lo the resource. Donated services are v81ued al the eslimaled value lo the charity of the gervice r8¢8ived. Grants receivable are credited lo Ihe Slalemenl of Financial Activities ISOFAI in the year in which they are received. Deferred income represents amounts received for future periods and is released lo incoming Tesource5 in the peFiDd for which il has been reGeived. Investment income is included in the SOFA in the year in which il is ieceivable. Page 15
CARERS NETWORK WESTMINSTER IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES Icontinuedl dl Resources expended and basis of allocatlon of costs Expenditure is recognised on an accruals basis as a liability is incuTred. incluslve of any VAT which cannot be recovered. Grants payable a charged in the year in whlch they become payable. Other resources expended are allocated to the particular activity where the cost r&l8tes lo that activity. Support costs have been allocated bebNeen charitable activities, generating voluntary funds and governan costs. Costs that are not wholly allribulable to an expenditure category have been apportioned to each activity on an esllmale of staff lime. e} Costs of generatlng voluntary funds Costs of generating funds include the cost of advertising for donations and the s12ging of speci81 fundraising events. Costs lelating to grant applications for specific projects are allocated direct to charitable expenditure. fl Charltable activitios Costs of charitable aclNilies Comprise all costs incurred in the pursuit of the ¢haTilable objects of the charity. These Costs. where not wholly atlribulable. are apporlioTred between the categories of charitable expenditure in addition lo the dlrect costs. gl Governance costs Governance costs include those costs associated with meeting the conslilutional and stalulory requirements of the charity such as the cost of board meetings, slalulory complian¢e and costs linked lo the strategic management of the charity. h) Tangible fixed ass8ts Tangible fixed assets are slated al cost less depreciation, whlch is provided in annual inslalments over the estimated useful lives of the assets. The rates of depreciation applied lo the assets are.. Computer equipment.. ILWi, 33⅓% slraighl line Fixtures, Fillings & Office equipment.. , 200/0 slraighl lin8 l} Pension costs The charity conlribules lo the National Employment Savings Trust (NESTI Pension Scheme which is a Workplace delined contribution scheme. The cost of the CDnlribulions is charged to the Statement of Financial Acllviliès ISOFAI when the cost is incurred. Il Gifts in klnd Items gifted lo the charity are included either as incoming resources in the Statement of Financial Activities {SOFAI or as an asset in the balsnce sheet. The valuation of such items is as deemed reasonable by the Trustèes. kl Critical accountlng estimates and areas of judgement In the view of the Trustees, in applying the accounting policies adopted, no judgements were required that have 8 significant effect on the amounts Tecognised in the financial slalements nor do any eslimales or assumptions made carry a significant risk of material adjuslmenl in the next financial year. Page 16
CARERS NETWORK WESTMINSTER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2, INCOME FROM CHARITABLE ACTIVITIES Unreslricted Restricted Funds Funds 2025 2025 Total FLtnds 2025 Total Funds 2024 Carer support and activities The Nalional Lottery Community Fund The Henry Smith Charity London Borough of Hammersmith and Fulham City Bridge Trust Royal Borough of Kensington and Chelsea Weslminsler City Council 39.780 20,000 193,300 193,300 190,813 10,700 104,040 400,672 110,282 424,607 110,282 424,607 728,189 728,189 765,885 3. VOLUNTARY INCOME Unrestrlcted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Grants for individuals Donations and grants recewed 4,200 4,200 10.483 2,460 13.997 10,483 10.483 4,200 14,683 16,457 Donations and grants received includes donations of £12712024". £7341 we receive from SUPPDrlers Ihrovgh the Global Giving plallorm. Page 17
CARERS NETWORK WESTMINSTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 4. INVESTMENT INCOME Unrestricled Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2a24 Bsnk deposit interest 15,895 15,B95 12,757 15,895 15,895 12,757 5. RESOURCES EXPLAINEO ON CHARITABLE ACTIVITIES Direct staff Costs Other Direct Cost5 Support Other staff Support Costs Costs Total 2025 Total 2024 Costs of Charitable Acllvities Carers Support & Events Governarice Costs Raising Funds 459.871 61,172 184,386 21,112 8,523 76,776 15,834 4,205 782,205 36,946 12,728 703,359 44,578 9.950 459,871 61,172 214,021 96,81 S 831,879 757,887 Support costs are allocated lo activities based on an assessment of time spent by staff on each activity. 6. GOVERNANCE COSTS Independent ExaminalionlAuclil fees Trustee Support costs Membership costs Support Staff costs 4,418 9,010 2,406 21,112 7,563 13,106 3,185 20,724 36,946 44,578 Page 18
CARERS NETWORK WESTMINSTER {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 7. NET INCOMING RESOURCES FOR THE PERIOD This is stated after charging.. 2025 2024 Depreciation of tangible fixed assets Loss on disposal of fixed assets Independent ExaminerlAudilors' remuneration 9,220 2,166 4,418 8.530 2,165 7,563 8. TRUSTEE AND STAFF INFORMATION al Trustees No trustees received Temuneration durlng the year12024'. £Nill The Chair was reimbursed £3,520 during the yÈar12024.' £4,424) lor expenditure on costs for care ol dependents that wer? incurred in order for thè Chair to allend trustee business. The Chair was provided with office equipment and st8tionery costing £219 during the year12024'. £601. Trusteès received travel reimbursements of £58812024.. £67) in the year. bl Staff 2025 2024 Salaries and wages Social security costs Pension costs Seconded and agency staff 522,900 46,100 27,611 77,032 506,818 43,479 26,131 17,788 673,643 594,216 Key management personnel are the Chief Execullve Officer, and Head ol Service. The lotal employ&e benefits ol the Charity's key management personnel wore £123,20712024'. £120,266). One employee12024.. 11 received emoluments between £70,000- £79.999 on an annualised basis during the year. The average full lime equivalent of staff employed by the chgrity during the period. including seGonded staff was.. 2025 No. 2024 No. Governance and generating funds Charitable activities 15 15 Page 19
CARERS NETWORK WESTMINSTER {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 9. TAXATION The chartlable company is exempl from corporation lax on Its charitable aclivilies. 10. TANGIBLE FIXED ASSETS Computers and equipment Cost Al 1 April 2024 Additions Disposals 48,715 13,91 q Al 31 March 2025 62,625 Depreciation Al 1 April 2024 Depreciation charged in the year Depreciation eliminated on disposals 34,730 9.220 At 31 Maroh 2025 43,950 Net book value At 37 March 2025 18,676 Al 31 March 2024 13,985 11. DEBTORS 2025 2024 Contract debtors Accrued Income Prepayments 106,886 3,710 12,604 3,834 13,035 123,200 16,869 Page 20
CARERS NETWORK WESTMINSTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade cledilors Accruals Other taxation and social security Pensions Other liabilities 4,125 5,946 11,254 3,765 369 2,608 14,359 12,309 3,457 1,290 25,459 34,023 13. COMMITMENTS UNDER OPERATING LEASES At 31 March 2025 the charity had total future minimum lease payments under non-c3nGellable operating leases as follows.. 2025 2024 Total commitments 7,189 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restrlcted funds funds 2025 2025 Total funds 2025 Total funds 2024 Tangible fixed assets Current assets Creditors.. amounts falling due within one yèar 18,191 545,392 (24.5741 485 64,371 {885 18,676 609,763 125,459) 13,985 696,130 (34,0231 539.009 63,971 602.980 676.092 Page 21
CARERS NETWORK WESTMINSTER IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS Brought Incomlng Forward Resources 1 April 2024 Resources Expended Transfers Carrièd Forward 31 March 2025 Restrlcted Funds End of Life Carers Project Carers Found Project Csrers Counselling Project Inclusive Communication Project Carers Trust Individtjal Grants 79,872 7,184 18,204 2,837 {43,6481 14781 36,224 6,708 18,204 2,837 4.200 14,2001 Total Restricted Funds 108,097 4,200 148,3261 63.971 Unrestricted Funds General Fund 567,9g5 754.567 1783,5531 539,009 Total Unrestricted Funds 567,995 754,567 {783,5531 539,009 TOTAL FUNDS 676,092 758,767 1831,8791 602,980 q6. PLIRPOSE OF RESTRICTED FUNDS End of Life Carers Project This is a ffagship project which commenced in October 2014 to provide support to Ènd-of-life carers in the City of Weslminster, London Borough of Hammersmilh & Fulham and Royal Borough of Kensington & Chelsea. 11 is a dedicated support Servi for adult carers providing unpaid care lo a friend or relative who has been diagnosed with 8 terminal illness, or is 80 or over, and has general frailty andlor co-existing Gonditions or is in a residential Dr nursing home. Page 22
CARERS NETWORK WESTMINSTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. PURPOSE OF RESTRICTED FUNDS Icontinuedl The current cycle of ftjnding commenced in October 2020, and during this financial year £20,000 was received from The H6nry Smith Charity and £39,760 was received from The Nation81 Lottery Community Fund. In February 2025 an independent evaluation of the End of Life Carers Projectwas conducted by Civil Society Consulting CIC. They found il is a highly impacllul project that significantly increases the wellbeing of EOL carers who receive support., enhances their wellbeing through provision of tailored, PTaclical and emotional support,. successfully reduces social isolation among EOL carer5', excels in empowering EOL carers through the provision of information and practical supporl., and indirectly empowèring cared-for individuals. Carers Found Project This is a major project running from February 202D lo September 2025, th21 will identify 240 hidden and hard-lo-reach unpaid carers in the City of Weslrninsler, the London BoroLJgh of Hammersmilh & Fulham and the Royal Borough of Kensington 2nd Chelsea. Carers Found will enable peDple who are excluded through isolation or other barr(ers lo live more fulfilling lives by offering them personalised support in their caring role. A grant of £20,000 was received frorll The Garfield Weston Foundation in February 2020. followect by grants of £105,200 over three years lo September 2025 from City Bridge Trust lo cover the salary of a Community Development Officer. plus related volunteer costs and overheads, and independent evaluation of the project. During this fir¢ancial year £10,700 was received from City Bridge Trust. Carers Counselling Project Commencing in September 2020, the Carer5 Counselling Project established a new counselling service for up lo 48 older, unpaid carers in conjunction Goldsmiths University of London and London and South East Colleges, Ioc21 unpaid carers are offered up to 12 one-on-one sessions of psychodynamic counselling to improve their ment81 health due to more positive behaviour and increased resilience, along with decreased isolation and loneliness, Grants of £10,000 in July 2020, £8,000 in October 2021 and £8,000 in September 2022 were reiVed from Weslminst2r Amalgamated Charity lo be ulilised lor older, unpaid carers Tesiding in the City of Weslminsler. A further grant of £15.000 was received in October 2020 fron7 the Independenl Age Grants Fund lo be ulilised for older, unpaid carers residing in the London Borough of Hammersmith & Fulham and the Royal Borough ol Kensington & Chelsea. Inclusive CommunicatiOlJ5 ProJect In November 2021 a giant of £5,000 was received from Carers Trust In support of more inclusive communications for the Carers Found Project (see above). In close Collaboration with community organisalions, the project raises awareness among unpaid adult carers from hidden and hard-lo-reach communities about their caring role and Gorresponding rights and entillemenls. Carers Trust Individual Grants As a Carers Trust Network Partner, Carers NebNork is able lo apply to Carers Trust on behalf of individual unpaid carers lor sm211 one-off gran16. Typioally, these are for the purchase of essèntial household equipment or repairs. 100 /0 of the amount8 received are immediately paid out lo the claimant. Page 23
CARERS NETWORK WESTMINSTER (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net lexpenditurellincome for the year las per Statement of Financial Aclivilies) Adjustment for.. Interest receivable Depreciation of tangible fixed assets Loss on disposal of tangible fixed assets Decreasellincreasel in debtors IDe¢reasellincrease in creditors 173,1121 37,212 115,8951 9,220 161 1106,3311 (8,5641 112.7571 8.530 2,166 15,112 21,840 Net cash provided by operatlng activities 1194,S211 72,1Q3 18. PENSION COMMITMENTS Carers NebNork Weslminsler opèrates a defined contribution Workplace pension scheme through the National Employment Savings Trust INESTI which is available lo all employees. Ttrie charge for the year represents the arnounls payable by the charity lo Ihe scheme, which were £27,61112024 - £26,131). As al 31 March 2025 contributions of £3,76512024.' £3,457) were oulslanding, which were paid over to the scheme in April 2025. 19. RELATED PARTY TRANSACTIONS There were £Nil12024.' £Nill related party transactions during the year. 20. CONTROLLING PARTY The Charity is controlled by its Members. Page 24