2023-03-31-accounts - Castel Froma Neuro Care Limited

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			Page
Chairman's	report
Trustees'	annual report		2-9
Auditors'	report		10-12
Statement	offlnanclal	actlvltles	13
Balance sheet
Statement	ofcashflows		15-16
Notes to the fina nclal statements			17-29

Castel Froma Neuro	Castel Froma Neuro	Castel Froma Neuro	Care	Llmitede	Llmitede
Registered	charity number					1100965
Registered	company		number			04777559
Country of	Incorporation					England
Royal Midland		Counties		Home for the
Disabled registered			charity		number
(Unked charity)						1100965-1
Registered	office					93 Lglington Road
						Leamington Spa
						Warwickshire
						CV32 6LL
Auditors						Harrison Beale &Owen		Limited
						Chartered Accountants		and Statutory Auditor
						Hlghdown House,
						11Highdown	Road
						Leamlngton Spa
						CV31 1XT
Bankers						Lloyds Bank
						73The Parade
						Leamlngton Spa
						CV32 48B
Solicitors						Wright Hassall	LLP
						Olympus Avenue
						Leamington Spa
						CV34 6BF
						Harrison Clark	Rickerbys	Umlted
						Ellenborough	House
						Wellington Street
						Cheltenham
						Gloucestershlre
						6L50 1YD

Directors and tr	ustee	s and ofgclals
President			12o Earl ofAylesford
Patron			Mr T Cox, Her Majesty's	Lord Ueutenant		ofWarwickshire
Vice-President			Mrs D Dowdeswell OBE
Trustees			Dr CWilson (Chairman)
			Mr6 Murrell (Vice-Chairman)
			Mr SJ Nicklln
			Mrs L Holiday
			Mr D Leigh-Hunt
			Dr D Stableforth
			Mr J Evlson
Associate Trustee			Ms SSeeley (appointed	July 2023)
Ex-Offlclo			The Chairman ofWarwick District Council
			His Worship the Mayor	of Royal	Leamington		Spa
Senior Management		Team	Mrs M Bawden (Chief Executive		gr Nominated		individual)
			Mrs EJackson (Deputy Chief Executive)
			Mr A Albu (Registered Manager,		Lillington	House and Helen Ley House)
			Mrs 3Hook (Registered	Manager,	Helen Ley House —until 31March 2023)
			Ms KGates (Therapy manager)
			Ms N Fyfe (Deputy Clinical Services manager-				from 1December 2023)
Company Secretary			Mrs M Bawden
Care Standards	Committee		Mrs L Holiday (Chair)
			Dr CWilson
			Mr6 Murreg
			Dr D Stableforth
			Mr S Nlcklln

STATEMENT	STATEMENT	OF FINANCIAL ACTIVITIES (including	OF FINANCIAL ACTIVITIES (including	OF FINANCIAL ACTIVITIES (including	Income and	expenditure	expenditure	account)
			FOR THE YEAR ENDED 31MARCH 2023
				Unrestricted	Restricted	and		Total	Total
				Funds	Endowment			2023	2022
					Funcls
						f
Income and endowments from:
Donations and legacies				8,888	156,298			165,186	77,792
Charitable activities
Operation of	care centres:
Residential fees				7,587,804			7,587,804		6,908,509
Hydrotherapy									18,640
6ovemment	grants								207,110
Investments			3	183,793				183,793	179,521
Other			2	8,999				8,999	6,324
Total Income end	endowments		2	7,789,484	156,298		7,945,782		7,397,896
Expenditure on:
Raising funds			4	85,658				85,658	49,487
Charitable activities:
Operation of	care centres		9	8,322,048	207,676		8,529,724		7,699,456
Total expenditure				8,407,706	207,676		8,615,382		7,748,943
Net expenditure			7	(618,222)	(51,378)		(669,600)		(351,047)
Transfers between	funds		19
Other recognised	gains/ (losses):
Other gains/ (losses)			6	84,091				84,091	(2,957)
Net movement In	funds			(534,131)	(51,378)			(585,509)	(354,004)
Reconclgatlon offunds
Total fund balances brought		forward
at 1April 2022			19	6,797,877	4,325,033		11,122,910		11,476,914
Total fund balances carried		forward
at 31March 2023

						2023	2022
						E	E
					Note
Fixed assets
Tangible assets					10	8,170,729	7,978,016
Investments					11	2,916,179	3,106,778
						11,086,908	11,084,794
Current assets
Stock					12	94,297	117,267
Debtors					13	553,296	494,318
Cash at bank and	In	hand				321,484	586,529
						969,077	1,198,114
Creditors: amounts		falling due within one year			14	(619,901)	(595565)
Net current assets						349,176	602,549
Total assets less	current gabglties					11,436,084	11,687,343
Creditors: amounts		feglng due In more than one			15	(898,683)	(564,433)
year
Net assets						10,537,401	11,122,910
Unrestrkted funds
General funds
General					19	2,463,324	2,965,224
Fair value reserve					19	835,000	700,000
Total General funds						3,298,324	3,665,224
Designated funds					19	2,965,422	3,132,653
						6,263,746	6,797,877
Restricted funds					19	23,655	75,033
Endowment fund					19	4,250,000	4,250,000
(held by Castel Froma		Neuro Care	Ltd as atrustee of RMCHD)
						10,537,401	11,122,910
hese accounts	ere	pproved	by the Boar	Trustees	on 15December 2023 and signed on Its behalf by

						2023	2022
						E	E
				Note
Cash (used in)/ provided		by operating activities				(559,513)	(363,541)
Cash flows from Investing		activities
Payments to acquire tangible fixed assets						(482,612)	(235,893)
Payments to acquire fixed		asset	investments			(13,500)	(97,948)
Receipts from disposalof		fixed asset investments				287,488
Interest received						6,868	3,585
Rents received from Investment			properties			176,925	175,936
Cash used In Investing activities						(24,831)	(154,320)
Cash flows from financing		activities
New loans advanced						406,000
Repayment oflong-term	loans					(46,056)	(30,856)
Interest paid						(41,347)	(18,415)
Cash provided by/(used	In) flnandng activities					318,597	(49,271)
Decrease in cash and						(265,747)	(567,132)
cash equivalents
Cash and cash equivalents		at1	Aprg			595,826	1,162,958
Cash and cash equivalents		at 31March				330,079	595,826
Cash and cash equivalents		consists of:
Cash at bank and In hand						321,484	586,529
Usted Investments cash						8,595	9,297
Cash and cash equivalents		at31March				330,079	595,826
Analysis ofchanges In net funds/debt
				At 1			At 31
				April	Cash	Non-cash	March
				2022	flows	changes	2023
				E	E	E	E
Longterm loans				(564,433)	(406,000)	71,750	(898,683)
Shortterm loans				(30,930)	46,056	(71,750)	(56,624)
Total llablgties				(595,363)	(359,944)		(955,307)
Cash and cash equivalents				595,826	(265,747)		330,079
Totalnet funds/ (debt)				463	(625,691)		(625,228)

				2023	2022
				E	6
Net movement in funds				(585,509)	(354,004)
Rents received from investment		properties		(176,925)	(175,936)
Interest receivable				(6,868)	(3.585)
Interest payable				41,347	18,415
Depreciation oftangible fixed assets				289,899	325,791
(Gains)/ losses on Investments		and investment	property	(84,091)	2,957
Decrease in stock				22,970	60,130
Increase in debtors				(58,978)	(184,974)
Decrease in creditors				(1,358)	(52,335)
Net cash used in operating	activities			(559,513)	363,541

Investment	Income
				2023	2022
				E	6
Rental income and income under operating			leases	176,925	175,936
Interest and	dividend	income		6,868	3,585
				183,793	179,521

			2023	2022
			E	E
Professional fees for	direct fundra ising costs		20,860	14,213
Professional fees for	Investing	activities	6,514	8,633
Property management	fees and repairs		16,937	8,226
Bank loan interest			41,347	18,415
			85,658	49,487

Staff costs, trustee remuneration and expenses an management personnel	d the cost of key
	2023	2022
	E	E
Wages and salaries	5,847,361	5,073,987
Social security costs	472,932	402,634
Pensions	107,321	97,575
	6,427,614	5,574,196

expenses during the current or prior yea	r.
The number ofstaff whose emoluments	fell within the fogowlng	No.	No.
bands was as fogowsa
660,001to F70,000
670,001to E80,000
E80,001to690,000
690,001to6100,000
E110,001to6120,000

equivalen	t employees (including	part time staff) during the year was:
			2023	2022
			No.	No.
Management			6	6
Administration			6	6
Nursing			30	31
Andllary	care		85	83
Therapy			24	21
Housekeeping			14	14
Services			5	5
			170	166
		21

Clini the	cal Leads and charity were	the Nomi as follows;	nated individual. The total empl	oyee beneRts ofthe key management	personnel of
				2023	2022
				E	E
Key	management	employee	benefits	448,986	333,994

Net expenditure/ I	nco	me
					2023	2022
					E	E
Net (expenditure)/	Income isstated after charging/			(crediting) e
Other operating leases		and equipment	hire		32,839	38,436
Depredation —owned		assets			289,899	325,791
Government grants	-Other					(207,110)
Income from operating		lease arrangements			(176,925)	(175,936)
Auditors' remuneration					8,000	8,000
Interest payable
					2023	2022
					E	E
Bank loan Interest					41,437	18,415

					Operation
					of Care		Total	Total
					centres	Therapies	2023	2022
					E	E	6	E
Staff					4,461,228	798,639	5,259,867	4,586,702
Rent &rates					19,871	2,707	22,578	30,059
Ught, heat &power					143,293	19,540	162,833	137,168
Supplies (medical, catering &cleaning)					455,685	74,181	529,866	427,381
Repairs &maintenance					186,720	25,462	212,182	233,375
Training					34,673	5,644	40,317	25,215
Subscrlptions					57,234	9,316	66,550	66,544
Motor &travelling	expenses				11,972	1,949	13,921	9,740
Insurance					93,152	15,164	108,316	100,397
Bank charges &Interest					2,182		2,182	1,522
Depreciation					260,909	28,990	289,899	325,787
General expenses					84,168	41,396	125,564	123,638
Covid-19 expenses					101,729	16,561	118,290	250,085
					5 912,816	1,039,549	6,952,365	6,317,613
					Operation
Agocatlon ofsupport		and governance		costs	ofCare
to activities					centres		Total	Total
							2023	2022
					E		E	6
Wages and salaries	&	related costs			1,059,165		1,059,165	887,158
(agocated on time)
General					170,131		170,131	150,124
(pro rata to staff full time equivalent)
Legal and other professional fees					140,953		140,953	137,564
Support costs					1,370,249		1,370,249	1,174,846
Governance costs					207,110		207,110	206,997
(allocated on time)
Direct costs							6,952,365	6,317,613
Total costs relating	to	the operation	of	the care centres			8529,724	7,699456
Governance costs comprise the following:-
							2023	2022
							6	E
Staff costs							108,582	100,336
Legal and professional		fees					98,528	106,661
							207,110	206,997

	FOR THE YEAR ENDE	D 31MARCH	2023
Tangible fixed assets	Freehold		Fixtures
	land 8	Motor	fittings gr
	buildings	Vehicles	equipment	Total
Cost orvaluation	E	E	E	E
At 1April 2022	7,620,698	158,116	4,472,307	12,251,121
Additions	383,687		98,925	482,612
At 31March 2023	8,004,385	158,116	4,571,232	12,733,733
Depreciation
At 1April 2022	510,420	128,395	3,634,290	4,273,105
Charge for the period		7,456	282,443	289,899
At 31March 2023	510,420	135,851	3,916,733	4,563,004
Net book value
At 31March 2023	7,493,965	22,265	654,499	8,170,729
At 31March 2022	7,110,278	29,721	838,017	7,978,016

buildings had not been revalued they	would have bee	n Included at a historical co	st ofE4931594.
Investments
		2023	2022
Listed Investments		E	E
Market value at 1April 2022		697,481	602,490
Additions		13,500	97,948
Disposals Unrealised gains/ (losses)		(296,406)	~2,957)
Market value at 31March 2023		372,584	697,481
Historical cost at 31March 2023		396,608	679,514
Listed Investments are represented	by:
Equity shares and fixed interest securities		372,584	697,481
Cash		8,595	9,297
As at 31March 2023		381,179	~706 778
Investment property		2023	2022
Valuation		E	E
Balance at 1April 2022		2,400,000	2,400,000
Unreallsed gain		135,000
Balance at 31March 2023		2,535,000	2,400,000
Total Investments			3,106,778

12	Stock
				2023	2022
				E	E
	Domestic supplies		and consumables	94,297	117,267
13	Debtors
				2023	2022
				E	E
	Trade debtors			147,588	287,060
	Prepayments	and	accrued Income	405,708	207,258
				553,296	494,318

Creditors: amounts falling due within one year
	2023	2022
	E	E
Bank loans and overdraft	56,624	30,930
Trade creditors	242,710	217,244
Accruals and deferred income	193,079	220,368
Other taxatlon and social security	120,157	100,270
Other creditors	7,331	26,753
	619,901	595,565

Creditors: amounts falling due In more than	one year
	2023	2022
	E	E
Bankloans	898,683	564,433
	898,683	564,433

			2023	2022
Creditors:	amounts	falling due in more then one year (continued)	E	E
Loans
An analysis ofthe		maturity of loans Is given below;
Amounts	falgng due within one year or on demand:
Bankloans			56,624	30,930
			56,624	30,930
Amounts	falling due between one and two years:
Bankloans			56,624	30,930
			56,624	30,930
Amounts	falling due between two and five years:
Bankloans			169,872	92,789
			169,872	92,789
Amounts	falling due after five years;
Bankloans			672,187	440,714
			672,187	440,714
			955,307	595,363

At 31 March 2023 the charity had minimum lease follows;	payments under non-cancellable operati	ng leases a
	2023	2022
	E	E
Expiry date:
Within 1year	4,698	6,336
Between 1and 5years	2,902	5,397
Over 5years		144
		11,877

At 31 March 2023 the charity	non-cancellable operating	leases as
follows;
	2023	2022
	E	E
Expiry date:
Within 1year	175,000
Between 1and 5years	306,250
	481,250	68,500

9 Analysis ofchari	t	able fund	s
			At 1				At 31
			Aprg	Income	Expenditure	Transfers	March
			2022	and gains	and losses		2023
			E	6	E		6
Analysis ofmovements		in
unrestricted funds:
Generalreserve
General			2,965,224	7,789,484	(8,159,716)	(131,668)	2,463,324
Fair value reserve			700,000	135,000			835,000
Total General reserve			3,665,224	7,924,484	(8,159,716)	(131,668)	3,298,324
Designated reserve
Fixed asset fund			3,132,653		(298,899)	131,668	2,965,422
Unrestricted funds			6,797,877	7,924,484	(8,458,615)		6,263,746
Analysis ofmovements		ln
restricted funds:
Restricted revenue funds
Nurses' soda l committee		fund	3,274				3,274
Helen Ley physio equipment			4,241		(4,241)
New build professional	fees		13,670		(596)		13,074
Software fund			1,543		(599)		944
Leisure and sporting activities			1,972		(178)		1,794
Other			4,808	1,298	(1,537)		4,569
			29,508	1,298	(7,151)		23,655
Restricted capital funds
New build fund			25	150,000	(195,525)	45,500
Helen Ley —new ensulte		room	45,500			(45,500)
Helen Ley —Cosy comer					(5,000)
			75,033	156,298	(207,676)		23,655
Endowment fund (RMCHD)			4,250,000				4,250,000
Totalfunds			11,122,910	8,080,782	(8,666,291)		10,537,401

		Tangible		Net	Long
		fixed		current	term
		assets	Investments	assets	creditors	Total
		E	E	E	E	E
Unrestricted	funds
General reserve			2,916,179	382,145		3,298,324
Designated	reserve	3,920,729		(56,624)	(898,683)	2,965,422
Restricted funds				23,655		23,655
Endowment	fund	4,250,000				4,250,000
		8,170,729	2,916,179	349,176	(898,683)	10,537,401