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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|
##
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|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|||||
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|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|
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|3|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|||
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##
|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|had minimum|lease receipts due under|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|
##
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##
|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|
##
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##
|||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|