CASTEL FROMA NEURO CARE LIMITED
IA COMPANY LIMITED BY GUAKANTEE)
REPORT AND FINANCIAL sfATEMErfrs
FOR THE YEAR ENDED 31 MARCH 2024
CHARifY NUMBER 1100965
COMPANY NUMBER 04777559

CASfEL FROMA NEURO CARE UMITED
la company Ilmlted byguaYanteeJ
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Conterhts
Page
Chalr's report
Trustees, annual report
Audltors, reF)Ort
10-12
Statement of flnanclal actlvltles
13
8alance sheet
14
StatÈmÈnt of tashflows
1>16
Notes to the flnanclal statements
17-29

CASTEL FROMA NEURO CARE UMITED
la company limlted byguaranteèl
CHAIR'S REPORT
Caslel Froma Neuro Care Llmlted Is 3 charitable company Ilmlted by guarantee opeTatlng two care centres in South
Warwickshire, provldlnE quallty speclallst eare, treatment, rehabllltatlon and therapeutlc facilltles for people with complex
condltlolls ran8in8 from braln inluTle5 to multiple sclerosis. motor neurone. Parkln50n's and Huntlngdon'5 d15e85e5.
Castel Fioma Neuro Care Umlted Isclvrenlly based In two propertles. at Lillington House and Helen Ley House, whlch between
them care foi approxlmately 90 resldents al anyone tlme.
We achleved 3 gross Income In the fln3nclalyear 2023-24 of E8.9 mllllon. wedomlnantly from fees pald by the NHS and other
publlc secior and prfvate sources. Thls sum Sncludes donatlons and legades we have been very fortunate to receive, and staff
have workedvery hard to athleve. of more ihan £370.000. Untll this yeai we were also supported by Investment Income from
propertyi whlch wa5 sold In order to fund constructlon work at one of OUT sltes (Helèn Lty Housèl to add a further elght
speclallyadapted rooms capable of supportlng the care we wovlde.
Theyearwas also extremÈlychallenglnE. Ajongslde managlng a malorconstructlon project on oneof our slteswhlle contlnulng
full SerV￿eS to resldents, we fxed conslderable rlslng costs ol operatlon. The prlnclpal of these was settlng pay to be
competltlve wlth the rest of the health sector. Following a pay upllft In the NHS and In the context of a nallonwlde shortage of
nurses and therapists, we awarded a 5% Increase to attractand retaln quallty staff and ovold thè cost of agencyfeesto flll gaps.
The lag In fee Increases to reflect Increased costs led to a deliclt for the year of more than £286,(￿. The Board and
management of the charlty are pursvlNg a strategyof wothln8 towards reallstlc fee levels whllst also ensurlng that costs are
actlvely managed.
Although outslde the perlod of Ihls report. It Is approprlate to provSde an update on progress Sn reflecting on the thangln8
nature of and posslbllltles offered by modern healthcare and the announcement In Au8U5t 2024 of 3 ievlew or ouc seNl¢es to
meet t)ew needs. detalls ofwhlch can be found on our webslte: h
Iltlés.to.f
tlon.
The work ol the charlty 15 only made posslble by the efforts and gotsdwlll of the staff and also many Indlvlduals who
glve thelr tlrne freely In many dlfferent ways to offer support. Thls Is very much appreclated. Fln8lly* I wlsh to thank
my fellow trustees for their contlnued dedicailon and supportof Castel Froma Neuio Care Umlted.
Carollne Wllson
Chalr of Trustees
30 lanu4ry 2025

CASTEL FROMA NEURO CARE LIMITED
la company Ilmlted by guarantee)
TRusfEW ANNUAL REPORT Ilncludlng Dlrectors, and Strateglc Report)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present their annual report together wjth the audited fiTwncial statements of the charlty fo¥ the
vear ended 31 March 2024 whlch are a150 prepared to Fneet the requlrements for the strateglc and dlrectors, report and
accounts for Companies Act purposes. The financial statements have been prepared in accordance wlth the accounting
pollcles set out In the notes to the accounts and comply wlth the charIt￿S governlng document, the Charitles Act 2011 and
ReportlnE by Charltles.. Statement of Recommended pract1￿ appllcable to tharltles preparlnE thelr accounts In accordance
wlth the Flnanclal Reportlng Standard applicable In ihe UK znd Republlc of Ireland published In October 2019.
On l Aprll 2011 Castel Froma las the chaiity was then knownl merged wlth Royal Mldland Countles Hame for the
Dlsabled, a ¢haTIty under common tontrol. Royal Mldland Countles Home for the Dlsabled remalns a separate charlty,
placpd under a UnltlnE Direction with Castel Froma. On l Aprll 2011 the expendable assets of Royal M5dland Countl?s
Homè for the DlsablÈd were transferred to Castel Froma and the permanent Èndowment was placèd undèr the
protectlon of the Trustees of Castel Froma. The following financial statements report the comblned performance and
flnanclal p051tlon of Castel Froma and Royal Midland Countles Home for the D15abled.
Reference and admln15tratlve Snfomiatlon
Castel Frorna Neuro Care Umlted:_
Re8lstered charlty number
Reglstered company number
1100965
04777559
Country of Incorporatltsn
England
Royal Mldland Countles Home for the
Dlsabled reglstered charlty number
(Llnked tharltvl
1100965-1
Re8lstered office
93 Lllllneton Road
Learnlngton Spa
Warwickshlre
CV32 GLL
Audltors
Harrlson Beale & Owen Llmlted
Charterèd Accourbtants and Statutory Audltor
Hlghdown House.
11 Hlghdown Road
Leamlngton Sp
CV31 IXT
Bankers
Uoyds Bank
73 The Parade
Leamlngton Spa
CV32 488
Sollcitors
WrSght Hassall LLP
olympu5 Avenue
LeaminBton Spa
CV34 68F
Harrtson aark Rickerbys Llmlted
Ellenborough House
Wellington st￿et
Cheltenham
Gloucestershire
GL50 IYD

CASTEL FROMA NEURO CARE UMITED
la company Ilmlted by guarantee)
TRUSTEES, ANNUAL REPORT Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
Dlrectors and trustees and offidals
Presldent
Patron
Vlce-Presldent
12th Earl of Aylesford
MrT Cox, Her MajesiVs Lord Lleutenant of Warwlckshire
Mrs D Dowdeswell OBE
Trustees
Dr C Wllson {Chalrl
Mr G Murrell IVlce-Chalr}
Mr S J Nlcklln
MTS L Holiday
Mr D Lel8h-Hunt
Dr D Stableforth
Mr J Evlson
Mrs S K Seeley lappointed 8 Aprll 20241
Ms S l Heales lappolnled 8 O¢lobei 20241
Ex-offl¢lo
The Chaliman of Warwlck Dlstrlct Councll
HIS Worshlp Mayor of Royal Leamlngton Spa
Senlor Management Team
Mrs M Bawden (Chlef Execullve & Nomlnated Indlvlduall
Mrs E jackson (Deputy Chlef ExeCUt￿e)
Mr A Albu IReglsteied Manager, Lllllngton House and
Helen Ley House)
Mlss N Fyfe Icllnlcal Servlces Manager)
Ms K Gates (Therapy rnanagerl
Compat)y Secretary
Mts M Bawden
Care Standards Commlttee
Mrs L Hollday (Chalrl
Dr C Wllson
Mr G Murrell
Mr S J Nkklin
Mr D LÈlgh-Hunt
Dr D Stableforth
Mr J Evlson
Mrs S K Seeley
Ms SJ Heales
finante, A55ets & Rlsk Commlttee
IlncludlTrg profiling & funthalsln81
Mr G Muirell {Chalr}
Dr C Wllson
Mr S J Nlcklin
Mrs L Hollday
Mr D LeiEh-Hunt
Dr D Stableforth
Mr J Evison
Mrs S K Seeley
M5 SJ Heale5
Remuneratlon Commlttee
Mr D LeiEh-Hunt IChair}
Dr C Wllsort
Mrs L Holiday
Mr J Ev150n
Mr S Nlcklin
Mr G Muriell

CAStEL FROMA NEURO CARE UMITED
(a company limited by 8uaranteel
TRUSTEEV ANNUAL REPORT Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACtVITIES
Mlsslon Statement
Doy* resplte and lonB-term resldentlal care wlth 24-hour nursing c(wreAoT those with neuroloplcol ¢ondKtlons
We run out5tandin8 care and rehabllltatlon centres provldlng day. resplte and long-term se￿iCe5 for people dlsabled
by neurologlcal condltlons.
Buslness Ams
To provlde the hlghest standard ol nurslng and care for Ind5vlduals wlth neurologlcal condbtlons who have
omplex needs;
To brlng together experts from everytherapeutlc fleld to help our resldents lfve as full a Ilfe as posslble,.
To Integrate famlly* frlends and the local communlty Into the Ilves of our resldenls and prov5de a supportlve
envlronmeni for thelr carers.
To excel In palllatlve and end of Ilfe care to help our resldenls Ilve Ihelr last days as they would wlsh. free
from paln and wlth as much dlgnlty as posslble;
To extend our care beyond our centre5, Into the Iordl communlty and onto a re¥lonal and natlonal level,.
To operate wlihln a flnanclally and en￿ronmentallY sustalnable framework,
Prln¢lpal a¢tlvllles
The prlnclpal actlvlty of Castel Froma Neuro Care Llmlted Is the provlslon of care and ac¢ommodatlon for Severely
physlcallydl$8bled people. To achleve thls oblecdvethe charltyoperatestwo redstered Care Centres based at thè followlng
addresses:.
Llllln8ton House
93 Lllllngton Road
LeamlnBton Spa
Warwlckshlre
CV32 6LL
The Helen Lèy Care Centre
Berlcote Road
Blackdown
Leamlngton Spa
Warwlckshlre
CV32 6QP
The centros provlde 24-hour nurslng care, Sn addltlon to physlotherapy. occupatlonal therapy, hydrotherapyi speech
aY)d language therapyi arornatherapy and reflexologv.
The prlnclpal actlvlty ol Royal MldlaThl Counties Home the Dlsabled 15 to support Ca5tel Froma Neuro Care Llmlted. The
sale of approxlmately 1.5 acres of land In 2￿)4 allowed Royal Midland Counlies Home for the Oisabled to Invest a13rge
su¥n of money Sn property. The monthly It)come ha5 been allocated to projects in Ca5tel Froma Neuro Care Llmlted for
physlcally disabled people. All of the projects have dlrectly benefited the ¥esldents.
Volunteèrs
In addltlon to approximately 206 pald employee5. the charity a150 twieNts fmm In excess of 1,000 hours of donated time
each year. This figure includes time spent at the care centres by committee member5. drlver5 and letter wrlters,
who all partlclpate In fundralslng events, vlsit resldents. and accompanythem excursions outslde the care centres.

CASTEL FROMA NEURO CARE LIMITED
(a company limlted by Èuar#nte¢)
TRUSTEES. ANNUAL REPORT lcontlnuedl
FOR THE YEAR ENDED ai MARCH 2024
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governln# Instrumeb)t
Castel Froma Neuro Care Llmlted bs a charltable company Ilmlted by guar3ntee, Incorporated on 27 May 2003 and
reglstered as a charlty on l December 2(K13. The company was est3bllshed under a Memorandum of Assoclatlon. as
arnended by speclal resolutlons OF? November 2003 and 25 November 2010. which established the objects and powers
of the company and Is governed Ltnder Its Artlcles of Assoclatlon.
Royal Mldland Countles Home for the Dlsabled Is an unIncorpora￿d association set up under a Trust Deed dated 27th lune
1884, as amended on 1st Aprll 2011,
Oyganlsatlon and stru¢lure
The overall management of the thar51y Is carrled out by the Chlef Eyecutlve who15 dlrectly responslble lo the trustees. All
nursln8 and rare staff report to the Reglstered Managers and all non-me(Ilcal staff report to thelr relevant Ilne manager.
The members of the Senlor Mana8ement Team cOmp￿se the Deputy Chlef Executive, Reglstered Managers and Therapv
Manager. all of whom report to the Chlèf Executlve.
GovÉrnante and IntÈrnal control
The 'Board of Trustee5' comwlses the dlrert(Y5 of the ¢ompany. A Ilst of those who seNed In these capacltle5 durln8 the
perlod Is set out on page 3. Members ol the company guarantee to contrlbute an amount not exceedlng £10 to the assets
of the company In the event of wlndSng up.
A panel comprls5nE exlstlng commlttee members selects members of the three commlttees.. the Care Standards
Commlttee; the Flnance5, Asse15 and Risks Commiltee,. and the Remuneratlon committee. The trustees meet quarterly,
New trustees are elected by the 'Board of Trustee5'. New trustees are Inducted Into thelr role over the course of several
mÈÈtlngs and are encouraged to attend approprlate tralnlngto facllitatethe undertaklngof thelr role.
Pay pollcy for senlor staff
The pay of the senlor staff Is reviewed by the rernunerat￿n commlttee lat least annuallyl and normally Increased In Ilne
with average earnlngs. In vlew of the nature of the chadty, the trustee5 benchmark aealnst pay levels In other reglonal
charitie5 of a 51mllar slze. If recruitment has proven diftlcult In the recent past a markel addlllon may also be pald.
Plans for the future
Durlng the year the charlty has made s18niflcant progres5 on the extenslon to Helen Ley House, whlch wlll expand capadtv
with elght new bedrooms and wlll become operatlonal In 2025, following recent approval from the CQC. The exten51on
fDrms part of a wlder revlew by the trustees of the charivs premlses In the context of the need for the charlty to allen Its
are servlces with changes In mO￿n healthcare seNlces. indudlng an Increased focus on rehabililatlon.

CASTEL FROMA NEURO CARE LIMITED
(a company Ilmlted by Buarantee)
TRUSTEES, ANNUAL REPORT {continuedl
FOR THE YEAR ENDED 31 MARQI 2024
STRATEGIC REPORT
Aehlevements and performan
2023-24 was another extremely challenglng year as the charlty. Ilke many In the sector, was deallng with signlflcant
Inflatlonary pressures in the economy that were in part exacerbated by a volatlle polltlcal envlronment around the
world.
We contlnue to strlve to provlde a hlgh standard of care for allof ourresldents at l)othsltes. To thls end, we have where
P0551ble, malntÈlned the number of hours each week In respect of physlotherapy. occupational therapy* psychologv.
dletlclan and speech and language therapy. We rÈopened resplte care during the year and our resplte beds were
popular durln8 the sprlng and summer months. In partkular. The latest CQC Inspection reports, whlch were dèsktop
revlews carrled out In 2022 and 2023, stlll assess both sltes as 'Good'.
Flnanclal revlew
Detalls ol the flnanclal posStlon ol the ¢harlly are set out In the attached finan¢lal statements. Income for the year
totalled £8,974.832 and expendSture totalled E9.218,987. Ne¢ expendlture for the year totalled £244,155 wlth total
adverse movement In furHls of £286,901 after other10$5es of E42.746. Unrestrlcted reseryes at the year-end amounted
to £5,969,257 and these cornprlsed 8eneral reserves of £1,339.473 and de51Bnaled reseNes of £4,629,784, Restrlcted
reserves comprlse the restrlctèd rèserves of Castel Froma Neuro Care Llmlted totallln¥ £31,243 and an endowment
reserve of Royal Mldland Countles Home lor the Dlsabled, representln8 the valuè of thÈ frèèhold property, belng the
slte at 93 Lllllngton Road, amountln8 to £4.250.000 at the year end.
Investment pollcv
The charltws Invèstmènts are held In accordance wlth the trustees, powers. The trustees have consldered the most
approprlate pollcy for investlng the funds and have found that a mlxture of property Investment and Investment In
portfollo of equltles had prevlously met thelr requlrements to 8enerate both Income and capStal growth. The trustees
take advlce from suitsble speclallsts on, amongst other thln8s, thè acceptable levels of rlsk and alm to 8en¢rate a
rèturn above that of the rate of Inflatlon. whilst enwilt)g that cash is avallable to the char(ty when needed. The
performance of Investments Is revlewed perlodlcally agalnst agreed benchmarks. In the year to 2024, the charlty
dlsposed of Its Investments In order to release resources to fund further development.
Rlsk rwlew
The trustees have put In place a formal rlsk management piocess to assess buslness rlsks and Implement rlsk management
5trategles. Thls Involves identlfylnÉ the types of rlsks the charlty faces. priorltl51ng them In terms of potentlal Impart and
Ilkelihood ol occurrence, and Identifying means ol mitlgatlng the rlsks. As part of thls process the trustees contlnuallv
revlew the adequacy of the charlty's current Internal controls. The tntsstees are pleased to report that the charlty's internal
financial controls, In partlcular, conlorm to Bulde15nes Issued by the Charlty Commlsslon.
The trustees have condurted thelr own le￿e￿ of the malor rlsks to whlth the charity Is exposed and systems have been
Implemented to rnltlgate those risks. The 51gnificant extemal rlsks to the charity are noted wlthln the key rlsks IdentSfied
below and Include the key linanclal rlsk of the charlty not meeting Its budget. Internal rlsk5 are mlnlmised by the
Implomentation af Sllternal control procedures for authorlsatlon of transactlons and projects and through staff
development. These procedures are revlewed perlodlcally to ensure they Still meet the needs of the charity.
The key rlsks as Identified by the trustees Indude:
Resldents, fees as awarded by Commlssloners not keeping pace wlth Inflatlon and the ensuing difficulty In
achlevln8 a balanced budget, 8iven the requirement to meet and malntain the ¢harlty's reputatlon and
commitment to care stsndards.
MalntalnlnÉ fee levels and cash flow in the context of a changlng pattern of Teferra15 Wlth an Increaslng
ernphasis on shorter term placements for rehabilitative care, wlth potential (or more"void" peiiods,. and
Accommodation becomln8 Ltnsuitable and unftt for purpose.

CASTEL FROMA NEURO CARE LIMITED
(a compary Ilmlted byguarantee
TRUSTEES, ANNUAL REPORT I￿ntInued)
FOR THE YEAR ENDED 31 MARCH 2024
STRATEGIC REPORT
Reserves pollcv
The trustees have examlned the charitrfs requlrements for reserves In the light of the maln r15ks to the organlsatlon and
have established a pollcy whereby suffl¢lent unrestrlrted reserves are retalned In order lo meet unforeseen Incre3sed
working capltal requliements at a level equal to at least slx months, operatlng expendlture. In Aprll 2021, the trustees
further clarlfied the reserves pollcy wlth an addltlonal alm to hold a level of reserves In liquid assets such as cash
deposits or Investment funds ol at least three months. operatlng expendlture. The pollcy Is still consldered to be
approprlate for 2024 and Is to be rÈvlèwed aEaln In 2025.
The strategy of the trustees Is 8uSded by the followlnÈ prlnciples..
To bulld reseives through planned oper3tin8 surF4uses,'
To revlew the pollcy reBula¥ly in the light of financial perfomiance and any changes In rlsk assessment;
To apply thls pollcy In conlunctlon wlth the Investment pollry. to enable a proportlon of the reserve to be
Invested. and
To Ilmll the ablllly of the charlty to draw from Its reserves by only authorlslng the Chlef Executlve or Chalr of
Trustees to effect such a drawdown. wlth an obll¥atlon lo report any such wlthdrawal to the 8oard.
The level of unrestrlcted reserves not commSlted was £5.969,257, ofthlch there was a de51gnatlon of£4,629,784, Thls
de51gnated fund represents the majorlty of the net book value of the functlonal flxed asseti of the charlty and Is
therefore not deemed to be avallable to the charlty for actlvltles other than to whlch these assets are currently
commllted. The level of reserves avallable to the chailty for unforeseen worklng capStal requlrements was therefore
£1,339,473, whlch, at around one to iwo months of operatln8 Èxpèndlture, Is short of the slx months target, based
upon current levels ol actlvlty and b¢Jdgels for the forthcomlnE years, althou8h Ilquld assets are more In Ilne wlth three
months. target. The tiustees conslder that the strength of the charlty's balance sheet. current stable cash flows and the
re5uIt5 of recent rlsk mana¥ement anatysls Indlcate that the current level of reserves Is adequatÈ for the charlty to
meet Its oblectlves.
Valuatlon of properiles
In October 2020 the freehold properties at both sltes ILlllln8ton Housè and Helen Ley House) were subject to a perlodlc
valuatlon, in accordance wlth UK GAAP In order to assess whether either property was Impalred, as nelther property
Is depreclated. Thls led to assessed valvatlons of £4,200,(XM) and E2,950.000 respectlvely, and were on an open market
value ba515.
As the Carr￿n$ valuè of Helen Ley House. at £2.855,750 dld not exceed Its latest market valuatlurt, the trustees were
satlsfled that It was not lrnpalred and that Its Current carrylng value Is consldered to be approprlate, followlng
slgnlfleantfurther Investment In an extenslon to the slte of over Elmllllon. whlch15 Set to become operatlonal In 2025.
No adjustmènts were made to the carrylng values of the propertle5 for the year ended 31 March 2024, whlch the
trustee5 ¢0nslder to Currently be shown at a carrySng value whlch is relevani and falr.
Fundyalslng
Whllst the charlty does Incur some expendltUTe In resped of fundralslng artlvltles, Indudlng professlonal fees for a thlrd-
party agent In respect of corporate charlty donatlons. these are considered to be on a Small scale and do not form part of
the charltvs prlnclpal attivitles. The charity neither parttclpates in publlcly marketed fundrabslng events nor In the actlve
sollcltlng of donatlons from mernbers of the general public. Accordingly. the charlty Is not ieglstered wlth the FundraislE)E
RegulatOT, although the trustees will keep the 51tuation under review.
Tho trustees would like to 3cknowledge thelr slncere gratltude for the donations in the year from.. The Salntbury Trust, The
Wllmcote Charitrust, The Rowlands Trusl, The Dennis Alan Yardley Charitable Trust, The Boshier Hlnton Foundatlon. The
W.E.D Charltable Tnt5t, The W E Dunn Trust, The Ellzabeth Jackson Charitable Twust, The Geoff & Flona Squlre Foundatlon,
Screwfix and The C A Rooke5 Charitable Trust. The majority of these dorsailons helped to fund profiling beds.

CASTEI FROMA NEURO CARE LIMITED
{a companyllmlted by guarantee)
TRUSTEES, ANNUAL REPORT Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
¥rATEMENT OF PUBLIC BENEFIT
The trustees are mlndful of the need to dernonsirate publlc benefit In the operatlon of both Royal Mldland Countles Home
for the Dlsabled IRMCHDI and Castel Froma Neuro Care Ltmited. For many years the charlty had operated at a trading loss
and had been wholly dependent upon RMCHD to provide substantlal donations In order to keep the charlty runnlng. The
trustees are now pursulng a strategy of maintainlnE realistlc fee levels whilst also ensuring that ¢0Sts are actlvely managed,
wlth the aim of provldln8 finantlal stablllty for the charity.
The trustees have dulyconsldered the Charlty Comm1s5ion's publlshed guldance on publlc beneflt requl¥ement5 under the
Charltles Act 2011.
As such, the trustees carry out those obletts and acllvltles by Cofttrattlng wlth, amonESt others. NHS England and varlous
Inte8rated Care Board5 to provlde:_
Rehabllltatlon of Indlvlduals followln8 catastrophic brain traumas; and
CoThtlnuin85peciali5t and complexc8refor Indlvldualswlth ongoing braln related traumas and physlcal dlsabllltles
As a result Qlthls, the charlty Ss deemed to demonstrate a publk bènefit In asslstln@ the NHS and other publlc bodles by
offerlng a more tallored solutlon to these IndSvSduals whose complex and often long-term care needs would otherwlse
place a slgnlflcant burden on publlcly funded reÉourcès and facllltlès.
Furthermore, In common wlth othér charltlÈs In thè care sÈctor. the fees charged to resldent5 are based on a structure of
¢osl recovery that extends only lo dlrect Care costs and andllary t)verheads but whlch excludes a ¢har8e for room rental.
As such the charlty Is consldered to offer a demon5tTable publir beneflt to resldents, Ihelr famllies and wlder soclety In
provldlnÉ thls sèrv5ce wlthln the context of 5ts overall care obllgatlons.
Thè charlty Is open to all who may benefit from the hlghty Intenslve ser41ce5 offered at Castel Froma Neuro Care Llmlted.
We know we could do more and that Is whywe are developlng and adaptlng fatllltlès whlch wlll allow the charSty to offer
Its servlces to more polentlal resldents. A broader range of servlces L% contemplated whlch would offer further support
to those needln8 the spetlallsed servke wè offèr. Thls approach Ss entlrely drlven by the chailty's obSectlve of rellevlnB
persons wlth physlcal dlsabllltles by the provlslon of tarÈ.

CASTEL FROMA NEURO CARE UMITED
la company limlted byguaranteel
TRUSTEES, ANNUAL REPORT {continuedl
FOR THE YEAR ENDED 31 MARCH 2024
Trustees, rèsponslbllltles In relallon to the flnah¢lal statements
The charlty trustees (who are also dlrectors of Castel Froma Neuro Care Llmlted for the purposes of Company lawl are
responsible for Preparlng the Trustees, Annual Report (Inclvdlng the Strategic Report) and the financial statements
accordance wlth appllcable law and Unlted KlnEdom Accounting Standards (Unlted KlnEdom Generally Accepted
Accountlng Practlcel.
Company law requlres the trustees to prepare financlal statements for each financSal year, whlch glve a true and falr vlew
of the state of affairs of the charitable ¢t)mpany and of the Incoming resouTces and appllcatlon of iesources, IncludlnB the
Income and expendlture. of the charitable company (or that perlod. In preparing these Hnanclal statements, the trustees
are requlred to:
select suitable accounling polkles and then apply them conslstently:
observe the methods and prlnclples In theChaTltles SORP 2019 IFRS 1021;
make ludgement5 aEkd e5tlm4te5 that are reasonable and prudent:
state whether appllcable UK accountlng standards have been followed, subject to any materlal
departures dlsclosed and explalned In ihe finan¢lal statements,.
prepare the Ilnanclal statements on the golng cot)cem basls unless It Is Inapproprlate to prestJMÈ that
the charlty wlll contlnue In operatlon.
The trustees are re5ponslble for kéeplng proper accountlng T￿OrdS that d15close wlth Teasonable accuracy at any tlme the
flnan¢lal posltlon of the charltable company and enable them to ensure that the flnanclal statemènls tomply wSth the
Cornpanles Act 2006. Theyare also re5pon51ble for safe8uardln& the assets of the charltable company and hènce for taklng
reasonable steps for the preventlon and detecllon of fraud and other Srfegularltles.
Statèment as to dtsclosure to our
In so far as the trustees are aware at the tlme o( approvlng our tTUStees' annual rewrt,.
there Ss no relevant audlt Informatkbn of whlch the charllable company's audltor15 unaware,. and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt
Intormatlon and to establlsh that the audltor b aware of that Informatlon.
Audltors
Harrlson Beale & Owen Llmlted have expressed thelr wllllngness to conlinue In the capaclty of the companrfs audltors.
Approval of Strate81¢ Rèport
In approvlnB the Trustees. Annual fte￿rt we a150 approve the Strateglc Report included thereln, In our capaclty as
company dlTectors.
Approved by the trustees on 30 January 2025 and signed on thelr behalf by.
Dr C Wilson
ChaSr of Trustees

CASTEL FROMA NEURO CARE LIMITEO
{a company Ifmlted by8uarantee}
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CASTEL FROMA NEURO CARE UMITED
FOR THE YEAR ENDED 31 MARCH 2024
Oplnlon
We have audlted the flnanclal ststements of Castel Froma Neuro Care Llmlted (the 'ch4rltable ¢ompany'l for the year
ended 31 March 2024 whlch comprise the Statement of Financial Actlvltles, the Balance Sheet, the Statement of Cash
Flows and notes to the tinanclal statements. Includlng a summary of signtticant accountlng pollcles. The financial
reportlftg framework that has been applled In thelr preparatlon Is appllcable law and Unlted Klngdorn Accountlng
Standards. includlng Flnanclal Reporting standard 102 Yhe Flnanclal Reportlng Standard applltable In the UK and
Republle of Ireland" Iunlted Klngdom Generally Accepted Actountlng Practlcel.
In ouroplnlon the flnanclal slatements..
glve a true and falr vlew of the state of the charllable cOmpan￿S affalrs as at 31 March 2024, and of Its Incomlng
resources and appllcation of resources. Includin81ts income and expendlture. lor the yeai then ended;
have been properly prepared In ac¢ordan¢e vlth Unlted Xln8dom Generally Accepted Accounllng Practlce,. and
have baen prepared In accordance wlth the requlrements of the Companles Act 200&
Basls for oplnlon
We conducted our audlt In accordance wlth Internatlonal Standards on Audltlng IUKI {ISAs IUKII and appllcable law.
Our responslbllltlès undèr those standards arè furthèr dèstrlbèd In thè Audltor's rèsponslbllltles for the audlt of the
financlal statement5 secllon OF our report. We are Independent of the charltable company In ac¢ordance wlth the
ethlcal requlrements that are relevant to our audlt of the financlal statement5 In the UK, Includlng the FRC'5 Ethlcal
Standard, and we have fullllled our other ethlcal responslbllltles In accordance wilh these requlrements. We belleve
that the audit evldence we h¥ve obtalned Is sufflclent and approprlate to provlde a basls for our oplnlon.
Concluslons relatlng to golng concern
In audltlng the flnanclal statements, we have concluded that the trustee< use of the 8olng concern ba51s of accountlng In
thè prèparatlon of the flnanclal statements Is approprlate.
Based on the work we have performed, we have not Identlfled matertal uncertalntles relatlng to events or condition5 that,
Indivldually or colle¢llvely, may tast slÉnlfttant doubt on the charltable CoMpan￿S ablllty to contlnue as a golng concern
for a perlod of at least twelve months from when the financlal statements are authori5ed for15sue.
Our responslbllltles and the responslbllltles of the truslees wlth respect to golng concern are descrlbed In the relevant
sectlons of thls report.
io

CASTEL FROMA NEURO CARE LIMITED
{a company Ilmlted by guarantee)
INDEPENDENT AiIDITOR'S REPORT TOTHE MEMBERS OF CASTEL FROMA NEURO CARE LIMITED Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
Other Informatlon
The other Informatlon compr15e5 the Information Included In the Trustees. Annual Report, other than the flnanclal
statements and our auditor's report thereon. The trustees are responsible for the othei Information. Our opSnlon on
the fln3nclal stslements does nol coveT the othei information and, except to the extent otherwlse expllcltly stated In
our report, we do not express any form of assurance concluslon thereon. Our respoftsSblllty Is to re3d the other
Informatlon and, In doing so, consider whether the other Informatlon Is materlally Inconslstent wlth the Ilnanclal
statements or our knowledge obtalned In the Course of the Judll or otherwlse appears to be materially misstated. If we
Identlfy such m3tèilal Inconslstencies or apparent material mlsstatemÈnts, we are required to determlne wheiher
thls Blves rlse to a materlal misstatement In the flnancial statements themselves. If, based on the work we have
performed, we conclude that there Is 3 materlal mlsstatement of this other Inform•tlon, we are required to repart that
fact.
We have nothlnÉ to report In thls rerfard.
Oplnlons on other motters prescrlbed by the CompanTes Act 2006
In our oplnlon. basèd on thÈ work undertaken In the course of the audlt:
the Informatlon 8lven in the Truslee5' Annval Report, whlch Includes the strateglc report and the directois, report
prepared for the purposes of company law, for the flnanclal year for whl¢h the Ilnanclal statements are prepared15
¢onslslent wlth the flnanclal 5talements,' and
the strateelc rèport and the dlre¢tors' report lrKkndL￿ withln the Trustees, Annual Report have been prepared In
accordance wlth appllcable legal requlrements.
Matters on whlch we are Yequlred to report by exception
In the Ilght af our knowledge and vnderstandlnB of the ¢harltable company and Its envlronment obtalned In the course of
the audit, we have not identifSed materlal mlsstatements In the strateglc rep¢)rt or the dSrectors' report Included
wlthln the Trustees, Annual Report.
We have nothlnE to report in respect of the following matters In relatlon to whlch the Companlo5 Art 2006 req(tlres
us to report to you If, In our oplnlon:
adequate accountln8 records have not been kept, or returns adequate for our audlt have not been recelved from
branches not v151ted by u5- or
the flnanclal Statements are not In agreement wlth the accounting records and returns- or
¢ertaln dlsclosure5 of dlrertors. remuneratlon specllled by law are not made,. or
we have not recelved all the Informatlon and explanatlons we requlre forour audiL
Respon51bilities of trustees
As explalned more fully In the Trustees, Respons5bllltles Statement Set out on page 9, the trustees (who are also the
dlrectors of the charltable company for the purposes of company lawl are responsible fof the preparation of the
1Snanclal statements and for belng satisfled that they glve a true and fair view, and for suth internal control as the
trustees determlne Is necessary to enable the prÈparatlon of financlal Statements that are free from materlal
misstatemenl, whether due to Iraud or error.
In preparlng the financlal statements, the trustees are respon51ble for assesslng the charÈtable comp3ny'5 ability to
continue as a going concern. disclosing, as applicable, matters related to going concern and using the Eolng concern
bas15 of accounting unless the trustees eitheT intend to liquldate the charltable company or to cease operatlon5, or
have no reallstlc alternatlve but to do so.
li

CASTEL FROMA NEURO CARE LIMITED
la company limited by 8uaranteel
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CASTEL FROMA NEURO CARE LIMITED Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
Audltor's responslbllltles for the audlt of the Ilnanclal Statements
Our oblectlves are to obtaln reasonable assurance about whether the flnancial statements as a whole are free from
material misstatement. whether due to fraud or error. and to Issue an auditor's report that includes our opinlon.
Reasonable assurance Is a hlgh level of assurance. but Is not a guarantee that an audlt conducted In accordance wlth
ISA5 IUKI wlll always detect a materlal mbsstatement when It exlsts. Mlsstatements can arlse from fraud or error and
are coi)sldered material If, individually or Sn the agcregate, they could reasonably be Èxpected to Influonce the
etonomlc dÈclslons of users taken on the basis of these financial statements.
Irregularltles, Including fraud. are InstancÈs of non-compliance wlth laws and regulatlons. We deslgn procedures In
Ilne wlth our responslbllltles. outllned above, to detect materlal mlsstatements in respect of Irregularltles, Includlng
f raud, The extent to whkh our procedures are capable of detectlng Irregularltles, Includlng fraud Is detalled below.,
The audlt proces5 Includes an assessment of the efttlty's rlsk envlronment, throu%h enqulry of and d15CU551on wlth
man0gement and those charged wlth governance. IncludlnB an assessment of any key laws and regulatlons wlth whlch the
charltable company must comply In the ordlnary tourse of Its operatbons.
Addltlonally, the overall rlsks of Irregular transactlons occurrlng are assessed followlng our observatlons and
conflrmatlon of the deslgn and Implementatlon of management's controls. Whllst we are mlndful of these rlsks, our
audit focus Is geared towards the rlsk of materlal m15Statement In the flnanclal statements as a whole.
AS such, our procedure5 cannot guarantee that all transactlon5 have been fully compllant wlth all relevant law5 and
regulatlons, Includlng those regulatlons relatlng to fraud. as our procedures are not deslgned to detect all Instances
of non-compll3nce. By definitlon, the rlsk of our detection of non-compliance is greater wheie compllance wlth a law
or regulallon Is removed from the events and transactlons reflecled In the flnanclal statements. The rlsk Is also Ereater
regardlng Irregularltles due to fraud rather than error, as fraud Involves Intentlonal concealment, forgeryi coIIu510n,
omls51on or mlsrepresentatlon.
A fuither de5crlptlon of our responslbllltles Is avallable on the Flnanclal Reportlrsg Councll'5 webslte at,.
ww.fr
-S-Tes
onslbilities-for-the-audit-of-the-fl
descrl tlon-of-the-
%E2%80%99s-res
nslbllities-lor Thls descrlptlon form5 part of our audltor's report.
audito
Use of our report
Th15 repoTt15 made solely to the charltable company's members. as a body, In accordance wlth Chapter 3 of Part 16
of the Companles Act 2006. Our audit work ha5 been undertakell 50 that we mlght state to thè charltable company's
members those matters we are requlred tc* state to them In an audltor's report and for no other purpose. To the
fullest extent permlttetl by law, we do not accept or assume responslbillty to anyone other than the charitable
company and the charltable cofflpany'5 fflernber5 a5 a body. forour audlt work. for thls report, or for the oplnlons we
have formed.
Mark Ashfleld BA FCA Isenlor Statutory Audltor)
For and on behalf of Harrison Beale & Owen Liwnlted
Chartered Accountants and Statutory Auditor
Hlghdown House
11 Hlghdown Road
Leamlngton Spa
Warwick5hire
CV31 IKr
30 January 2025
12

CASTEL FROMA NEURO CARE LIMrrED
la company Ilmlted by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES Ilncluding Income and expenditure account)
FOR THE YEAR ENDED 31 MARCH 2024
Restrltted
and
Endowment
Funds
Unrestricted
Funds
Total
2024
Total
2023
Note
Income and endowments from:
Donatlons and legacles
Charltable actSvltles
Operatlon ol care centres:
344.092
27.853
371,945
165,186
Resldenllal fees
8,424,443
8,424,443
7,587,804
Inveslmenls
IS8.066
158,066
183,793
Other
20,378
20.378
8,999
Total Income and endowments
8.946,979
27.853
8.974,832
7.945,782
ExpendSture on:
Ralslng funds
96511
96,511
85,658
Charltable actlvltles: Operatlon of care
centres
9,102,211
20,265
9,122,476
8,529,724
Totol expendlture
9,198.722
20,26S
9,218,987
8,615.382
Net expendlture
151,7431
7.588
1244.1551
1669,6CVJI
TYansfer5 between funds
19
Other reco8nlsed gaSnsl (losses):
Other galns/ Ilossesl
42,7461
142,746
84,091
Net movement In fund5
1294.4891
7.588
1286,9011
1585,5091
Rèconclliatlon of fund5
Total fund balances brought forward at i
Aprll 2023
19
6.263,746
4,273,655
10,537.401
11,122,910
Total fund balances carrled fon¥ard at 31
March 2024
5.969,257
4,281,243
10,250,500
10,537,401
All income and expenditure derlve fiom contlnuing aclivities.
The ststernent of financial activities includes all g3in5 and105se5 recognised during the year.
13

CASTEL FROMA NEURO CARE LIMITED
la company Ilmtted byguaranteel
BALANCE SHEET AS AT 31 MARCH 2024
2024
2023
Note
Flxed assets
Tanglble a55etS
Investments
io
8.896,076
8.170.729
2.916,179
li
8.B96,076
11,086,908
Current asset5
Slock
DebtOTS
Cash at bank and In hand
39,195
709,269
1.426,642
94,297
553,296
321,484
13
2,175,IC
969,077
Credltors: amounts falllng due wlthF¥t one year
14
1820.6821
1619,9011
Nèt current assets
1,3S4.424
349,176
Total assots less current Ilabllltl•s
10,250,$00
11,436,084
Credltor5: amounts lalllng due In more than one
year
15
(898,6831
Net *ssets
10,250.500
10,537.401
Unrestrlcted funds
Général funds
General
Falrvalue reserve
19
19
1.339,473
2,463,324
835,000
Tot•1 Genèral funds
1.339,473
3.298,324
Deslgnated funds
19
4.629,784
2,965,422
5,969,257
6,26a,746
RÈstrl¢ted funds
31.243
23,655
Endowment lund
(held by C8Stel Froma Neyro Care Ltd asatntheot
RMCHDI
19
4.250,000
4,2SO,000
10.250.S
10.537,401
These accounts were approved by the Board of Trustees on 30Januèry 2025 and slgned on Its behalf by
DR CWILSON
Chalr
14

CASTEL FROMA NEURO CARE UMrrED
{a company Ilmlted by EuarahteÈ)
NOTES TO THE STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash provlded byl Iu5ed Inl operatlng actlvitles
60,599
1559,5131
Cash flows from 5nvestlno a(Ilvlthes
Payments to acqulre tanglble fixed assets
Payments to acqulre fixed asset Inveslments
Receipts from dlsposal of fixed asset Investments
Interest recelved
Rents retelved from Investment propertles
1983.8881
1482,6121
113,5001
287.488
2,864.838
7.354
150.712
176,925
Cash provlded byl (used In) Investlng actlvltles
2,039,016
124,B311
Cash flows from flnon¢lng actlvjtles
New loans advanced
Repayment of loans
Interest pald
507,5¢XI
11,462,8071
147,7451
406,CKIO
146,0561
141,3471
Cash provlded byl (used In) flnan¢lng*rtl¥ltl¢s
11,003,0521
318,597
Increase/ (decrease) In cash and cash equlvalents
1,096,563
126S,7471
Cash and cash equlvalents at l Aprll
330,079
595,826
Cash and cash equlvalents at 31 March
1,426,642
330,079
Cash and cash equlvalents conslstsof:
Cash at bank and In hand
1.426.642
321,484
Llsted Investrnents cash
8,595
Cash and cash equfvalents at 31 MaTd)
1.426,642
330,079
Analysls of changes In net fundsl debt
Atl
Cash
Flows
Non-cash
Changes
At 31 March
2024
2023
Long term loans
Short term loans
1898,683)
156,624}
898,683
56,624
Total Ilab511tles
1955,307)
955,307
Cash and cash equwalents
330,079
1,096,563
1,426,642
Total net funds/ Idebtl
1625,2281 2,051,870
1,426,642
Is

CASTEL FROMA NEURO CARE LIMITED
la company Ilmlted by guarantee)
NOTES TO THE STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024
Reconclliation of net movement In funds to net cash flow from operatln8 aciivitle5
2024
2023
Net movernent In fund5
1286.9011
{58S.5091
Rents received from investment propertles
Interest recelvable
Interest pawdble
Depreclatlon of tan8lble Ilxed assets
IGainsll105ses on investments and Investment property
Decrease In stock
Increase In debtors
Increasel Idecreasel In ueditors
1150,7121
17,3541
47,745
258,541
42,746
55,102
1155,973)
257,405
(176,9251
16,8681
41,347
289,899
184,0911
22,970
158.9781
11,3581
Net cash provlded byl (used In) operatlng ac￿￿tIeS
60,599
1559,5131
16

CASTEL FROMA NEURO CARE LIMITED
la Company Ilmlted by guarantee)
NOTE5 TO THE HNANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Prlndpal accountlng pollcies
The principal accounting pollcles adopted, ludgements and key sources of estlmation unttrtalnty In the preparatlon of the
flnan¢lal statements are set out below as follows. These w)Ilc4es have been con51stently applled unless otherwise stated.
a) Basls of preparatlon
The Ilnanclal statements have been prèpared In accordance wlth Accauntind and Reportlng by Charltles; Statement of
Hecommended Piactlce appllcable to charltles prepari￿ thelr accounts In accordance with the Flnanclal Reporting
standard appllcable In the UK and Republlc of Ireland Iswed In October 2019, the Flnanclal Reportln8 Standard appllcable
In the UK and Republlc of Ireland IFRS 1021 the Companles Act 2006 and UK Generally Accepted Accountlng Practlce.
Castel Froma Neuro Care Llmlted meets the deflnltlon of a publlc benefit entity under FRS 102. Assets and Ilabllltles are
Inltlally reco8hlsed at hlstorl¢al cost or tiansactlon value unless otherwlse stated In the relevant accountlrhg polScy nolel51,
The Ilnanclal statements are presented In slerlln8. whlth Is the functlonal currency of the charltable con)pany and roundèd
to the nearest £.
IJ) Preparatlon olthe a¢¢ounts on a golng COn￿M basls
The charlty reported an adverse net movement In funds of £286,901. However. It should be noted that thls performance
was agaln In the ¢ontÈxt of severè Inflationary pressures In whai has contlnued to be a volatlle e¢onoml¢ and polltlcal
envlronment. The trustees conslder that the charilws future plans, whlch wlll Include a focus on rehabllltatlon and tarÈ of
cllnlcally complex cases comblned wlth a revlew of premlses. wlll result In an ovetall reductlon In expendllure a5 a
percentage of Income. The forecasts for operatlng cash Ilows. togetherwlth the level of reseNes, suggest that the charliy's
future Is secured for at least 12 months followlng the authorlsallon of ihese a¢¢ounts, Accordlnglyi on thls basls the
trustees con51der that no mateilal uncert31ntles exlst and that the Charitab￿ company Is therefore a golng concern.
cl Income
Income 1$ recognlsed when the charlty has any entltlement tt) the hjnds, any perf0rn7ance condltlons attached to the Items
of Income have boén met, It Is probable the Income wlll be recelved and the arnount can be measured rellably,
Income from government and other grants, ￿ether "capltal" 8rants or"revonue" Irants, Ss recoBnlsed when the charlty
has eiititlement to the funds, any performance condltlons allached to the Krants have been met. It Is probabl4 that the
Income w511 be recelved and the amount can be measured rellably and Is not deferred.
For legacle5. entitlement Is ihe earller of the date on whlch either.. the charity is awarè that probate has been granted, the
estate has been flnallsed and notlllcatlon has been made by the executorlsl to the charlty ihat a d15tributlon wlll be made,
or a dlstrlbution Is recelved from the e5tale. Receipt of a legacy, In whole or In part. 5s only con51dered probable when the
amount can be measured reliably and the charity h35 been notlfled of the executor's Inlentlon to make a dlstrlbutlon.
Where legacSes have been notifled to the chailty, or the charlty 15 aware of the grantlng of probate, and the crlterla for
Income recognltion have not been met. then the leEacy Is Ireated as a contlngent asset and dlsclosed If materlal.
Income recelved in advante of any care Ser￿CeS provlded is deferred untll the crlterla for Income recognltlon are met (see
note 141.
Donated f3¢111tles and donated prolesslonal services are recognised irt Income at theli falrvalue when thelr economlc
benefit is probable, It Can be mE3sured reliably and the charity has control over thÈ Item. Falr value 15 determined on the
basis ol the walue of the 8ift to ihe charity, for example the amount tho charity would be wllling to pay In the open market
for such facllltles and service5. A coffespoftdin8 amount ts recoBnlsed In expendltUTe.
17

CASTEL FROMA NEURO CARE ￿M￿ED
la company Ilmited by guaranteel
NOTESTO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
Prlnclpal accountlnK pollcleslcontlnued)
No amount Is Ik)cluded In the flnanclal statements for volunteer tlme In Ilne with the SORP. Further detall is glven In the
Trustees, Annual Report.
Where practicablei gifts in klnd donated for d15trlbutlon to the beneflclarles of the charlty are Included In stock and
donallons In ihe flnanclal statements upon recelpL If It Is Impractlcahle tD assess the fair value at recelpt or sf the costs to
undertake such a valuatlon Olrtweigh any beneflts, then the falr value Is recognlsed as a component of donatlons when It
55 dlstilbuted and an equlvalent amount reco8nlsed a5 charitable expendlture.
Interest on funds held on deposlt Is included when receivable and the amount can be measured relIab￿ by the charlty,. thls
Is norrnally upon notlficatlon of the Interest p3ld or payable bythe bank.
Income from Investment property Is accounted for on a stralght-llne bas55 over the perlod of the lease.
dl Fund a¢countln8
General funds are unrestrltted funds whlch are avallable for use at the dlscretlon of the trustees In furtherance of the
Eeneral oblectlves of the charlty and whlch have not been deslgnated for other purpose5.
De518nated funds comprlse unrestricted funds that have been set oslde by the trustees for partlcular purposes. The alm
and use of each deslgnated fund Is set OLtt in the notes to the fln3ntlal statements where applicable.
Reslrlcled funds are funds whlch are to be used In accordance wlth spedlic restrlctlons Imposed by donors or whlch have
been ralsed by the charlly for partlcular purposes. The cost of ralslnB and admlnlsterlng such funds are char8ed a8alnst
the speclflc fund. The alm and use of each re5trlded lund Is set out In the notes to the flnanclal statements.
Endowment funds represent those assets whlch must be held permanently by the charlty. prlnclpally the property at
Lllllngton Road.
e) Expendlture reco8nlilon and Irrecoverable VAT
All expendliure Is accounted for on an accrua15 basis and has been ¢l¥sslAed under headln8S that ag￿￿Kate all costs related
to the category. Expendlture 5s reco8nlsed where there Is a legal or constructlve obllgalion to rnake payments to a thlrd
party, It Is probable that the settlement wlll be requlred and the amount OF the oblluallon can be measured rellably. It
Is ¢ategorlsed under th¢ followln& headlngs..
Costs of Talsln8 funds comprlse propprly management fees and property related Interest and costs; and staff
and professlonal fees assocl3ted wlth raislng funds.
Expendlture on charitable actlvltles Includes the costs associated with the provlsloft of care
accomFnodatlon for Severely physically dlsabled people and other actlvltles undertaken to further the
purposes of the charily and thelr assotlated support costs.
Irrecoverable VAT Is charged as a cost agalnst the actI￿ty for thlch the expendlture was Incurred.
fl Support costs
Support CQ5ts are those *unctlon5 that ass15t the work of the charity but do not dlrectly represent chafltable activltles
and include office costs, finance, personnel, payroll and governanee costs. Where support costs cannot be dlrectlv
attrlbuted to partlcular headlngs, they have been allocated to the cost of ralslng funds and expenditijre on charltable
activities. Costs are allocated to activities based on a relevant indlcator for use of resources le.g. staff allocated bv
activity,. floor area of buildin& equipment allocated by aclivityl. The bases on which support cost5 have been allocated
ère Set out In note 9.

CASYEL FROMA NEURO CARE LTMITED
(a company limited by guarantee)
NOTESTO THE FINANaAL STATEMENTS IcfjntlDuedJ
FOR THE YEAR ENDED 31 MARCH 2024
Prlndpal accountlng pollcles (Contlnuedl
gl Leasès and hlre purthase
Assets acqulred under hlre purchase contracts are capitallsed and depreciated over thelr expected useful Ilves.
Rentals payable under operatlng leases are charged to the SOFA on a stralght-llne basls over the perlod of the lease.
h) Tanglble flmed assets
Indlvldu31 fixed assets costing £l,MO OT morÈ are Ca￿taliSed at COSL
Tanglble flxed assels are stated at cost lor deemed costl or valuatlon less aceumulated depreclatSon and accumulated
Impalrment losses. Cost Includes costs dlrectly attrlbutable to maklnE thè asset capable of operatlng as lfttended.
Oepreclatlon Is provlded on all tanglble flxed assets, at rates ¢alculaied to wrlte off the cost, less estlmated resldual value,
ofeach asset on a systematk basisover its expected useful life as follows..
Freehold land and bulldlngs
Motor vehlcles
Flxlures, fltlln85 and equlpment
0% p.a.
25% p.a. reduclnB balance
15%, p.a., 20% p.a. and 33.3% p.a. stral8ht ￿ne
Freehold land and buildlngs are notdepreclated as the charfty maintalns the properlles to a hSgh standard and thelr resSdual
values are regularly measured on the basls of fabr value and relnstatement cost as a means to assess thelr carrylng values
In the flnanclal statements. Thls Informs an annual Impalrment revlew. whlch Is undertaken to establlsh the recoverable
value of all propertles,
Asset5 not measured at falr value are reviewed for any indlcatlon that the asset rnay be Impalred at each balance sheet
date. If such an Indl¢allon exlsls. the recoverable amount ol the asset, or the asset's tash generatlng unlt, Is estlmated
and compared to the carrylng amount. Where the carrylng amount exceeds Its recoverable omount, an Impalrment
loss15 recognlsed In the SOFA.
11 Investments
Llsted Investments are stated at thelr market value as at the ba13nce Sheet date. All movements In value arlslng from
Investment changes or revaluatlon are recognlsed In the SOFA. Galns or losses on Investments are calculated a5 the
dSfference between the dlsposal proceeds and the market value brought foiward,
Investment propeitles are measured at falr value at each reportlng date wlth changes In faSr value recognlsed in 'Other
galnsl Ilossesl. the SOFA.
Cash and cash equlvalents comwlse cash at banks, OndepK￿1t and In hand wherÈ there Is a maturSty of lÈssthan one year.
Jl Stock
Stock Is valued at the lower of cost and net reallsable value after maklng due allowance for Db501ete and slow movlng
Items. Cost Includes all costs of purchase ènd other costs Incurred in brlnging stockto Its present locatlon and tonditlon.
kl Debtors and credltors recelvahle/payablewlthln one year
Debtors and credltors wlth no stated Interest rate and receiwable or payable wlthln one year are recorded 3t tr3n5actlon
prlee. Any1055es arlslngfrom Impairment are recognised In expenditure.
11 Flnanclal Instruments
Loans and borrowings are Initlally recognised at the transactlon prlce Indudlng transactlon costs. Subsequently, they are
measured at amortlsed tost uslng the effetilve Interest rate rhethod. less Imp3lrmetst. If an arrangement constitutes a
rinance transact40n Èt is measured at the present value of the fvture paynents discounted at a market rate of interest for
3 simllar debt Instrument.
19

CA5TEL FROMA NEURO CARE LIMITED
(a company limited by 8uarantee)
NOTESTO THE HNANCIALSTATEMENTS Iwntinuedl
FOR THE YEAR ENDED 31 MARCH 2024
Prlnclpal a¢tountlng polkles Icontlnuedl
ml Employee benefits
When employees havÈ rendered se￿teS to the c￿rItY, short-term employee benelitsto whlch the employees are entltled
are Tecognlsed at the undlscounted amount experted to be pald in exchange for that servlcÈ.
The charlty operates a deflned contributlon penslon p13n for ihe benellt of Its employees. Contrlbutlons are expensed as
they become payable.
n) Tax
The charlty Is consldered to pass the tests set out In Paragraph I Schedule 6 Flnance Act 2010 and therefore it meets the
delSnltlon of a charliable company for UK ¢orporatton tax pU￿0$e$. As such, It does not have Ilablllty to corporatlon tax In
the course of its normal charitable activlties.
ol Company statu5 and Beneral Infonnatton
The charfty Is a prSvate company Incorporated In EnBSand and Wales and Is Ilmlted by guaranteè, wlth no sharè capltal, Thè
members of the company Include the trustees. In the event of the charlty belng wound up. Ihe Ilabllliy In respect of the
8u3rantee Is Ilmlted to £10 per member of the charlty. The address ol the reglslered ofllce and re615teTed numbers of the
company and charlty are shown In the ¢hailty Informatlon on page 2 of these flnanclal statements.
pl Crltl¢al a¢¢ountlnÈ estlmotes and jud￿m¢nI$
To be able to prepare flnanclal statements In accordance wlth FRS 102, the charlty must make ¢ert8ln estlmates and
judgements that have an Impatt on the pollcles and tho amount reported In the annual flnanclal statements. The esllmates
and ludgernents are based on hlstorlcal experlences and other factor5 Includln8 expe¢tatlons of future events that are
belleved to be reasonable at the Ilme such estimates and lud8ements are made. The trustees do not conslder any of the
estlmates or judgements applled to be slgnlfkant to the finarKlal statements.
Income and endowments
Income frorn don8tlons and le8atles was É371,94512023: É16S.1861 of whlch £2?,85312023'. £156,298) was attrlbutable to
reslrlcted funds and £344,09212023'. £8,8881 Wds attrlbutable to unrestricted fund5.
Income from charitable actNities was E8,424,44312023: £7.587.804} all of whl¢h was attrlbutable to unrestrlcted funds
and related to the prov151on of care selv1￿$.
Investmeni Income
20Z4
2023
Rental Income and Income under operatlng leases
Inteiest and divldend income
150,712
7,3S4
176,925
6,868
158,066
183,793
All Investment Income In the current and wloryears was atirllxjtable to unrestrlcied funds.
20

CASTEL FROMA NEURO CARE LIMITEO
{a company I[mIt￿ by guaranteè)
NOTES TO THE FINANCIAL STATEMENTS lu)ntlnued)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on ralsin8 fwds
2024
2023
Professlonal fees for dlrect fuNfrd151￿ costs
Professional fees for investing activities
Property management fees and repalrs
Tenancy agieernent and Wdluatlon
Bank loan Interest
23,479
708
15.529
9,050
47.74S
20,8fLI
6.514
16.937
41,347
96.511
85.658
Of the expendlture on rabln8 funds above, only £23.47912023: £20.8601 related dliectly to donations and legacy
Income In the flnanclal statemenls. Other expendlture Is a550clated wlth profe551onal and property management
lees In respect of flxed asset Investments and Investment property.. and the cost of 5ervlclng the secured loans
dlsclosed In note 15,
All expendltLEreon raislng funds In thecurrent and prtoryear was attrlbulable to unrestrlcted funds.
Staff tosts, trusteè rèmuneratlon and èxpÈnsèsand the cost of kèy
management personnel
2024
2023
Wa8e$ and salarles
Social securilycosts
Penslons
6,272,88S
512,238
114,699
S,847,361
472,932
107,321
6,899,822
6,427,614
Wages and 5alarles Include a8enty and bou8ht In staff costs totalling E462,666 {2023.. £S20,2371.Thetrustees nelther
recelved noi walved any remuneratlonduringthe year12023: £Nill. No trustee was Telmbur5ed expensès during the
current or prlor year.
The number of staff whose emoluments fell wlthln the followlng
bands was as follows-_
£60.001 to £70,LKK)
£70,001 to E80,(XKJ
£80,ODI to E90,(XK)
£90,ODI to £IOO,OOD
£iio,ooi to £120.000
No.
No,
Nlne 12023: Ntnel employees earnlng over £60.000 were accrulng retirement benefits under a deflned
contrlbutlon scheme. In the year, employer cor¢tributlons of £15.01012022.. E14.OS91 were made In respect OF these
employees.
21

CASTEL FROMA NEURO CARE LIMITED
(a company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS Icont5nued)
FOR THE YEAR ENDED 31 MARCH 2024
stafl costs. trustee remuneration and expenses and the cost of key
management personnel Icontlnuedl
The average monthly headcount Ipta5 206 Staff {2023.. 205 Staff) and the average monthly number of full-tlme
equlvalent employees Ilncludlng part tlme staff) durlng the yearwas..
2024
2023
No.
Management
Admlnlstratlon
Nuislng
An¢lllary care
Therapy
Housekeeplng
Services
32
96
24
14
30
85
24
14
181
170
The key management of the charStycomprlse theTrustees, the Chbel Executlve andnomlnated Indlvldual, the Deputv
Chlef Executlve and the Cllnkal Leads. The total employee benellts of the key management personnel of the
charlty were as follows..
2024
2023
Key manaBemenl employee beneftts
417,741
448,986
Othergglns and losses
Other Ealn5 and losses Include reallsed losses of £1,24712023.' £8,918) and an unreallsed loss of £NII12023., loss of
£41,991) In re5pe¢t of Ilsted Inve5tment5.
Addltlonally, a reallsed loss of £41.49912023'. ENIII and a falr value galn of £Nil 12023: £I35,C￿l0} has been
recognlsed on the charitable company's Investment property.
Net exptndlture
2024
2023
Net expendlture Is 51ated aftercharBln81{cred5tln8):_
Otheroperatlng leases and equlpment hlre
Depreclatlon- owned assets
Income fTom opeiatlng lease arra￿ements
Audltor's remvneralion
27.018
32,839
289,899
1176,9251
8.000
258.541
1126.9381
15,0
Interest payable
2024
2023
8ank loav) Interest
47.745
41,347
22

CASTEL FROMA NEURO CARE LIMITED
la ¢ompany15mlted byguaranteel
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
Analy51s of expendEture on charltable adlvltle5
Operatlon
of Care
centres
Total
2024
Total
2023
Theraples
Staff
Rent & rates
LIEht, heat & power
Supplles Imedlcal, caterlnB & cleanln8)
Repalrs & malntenan¢e
Tralnlng
Subscrlptlons
Motor & travellln8 expenses
Insurance
Bank charges & Interest
Deproclatlon
General expenses
Covld-19 expenses
4,882,935
32,129
237.063
532.244
222,639
20,225
62,533
10,032
106.430
16.321
232,687
103,420
B28,107
4,801
35,423
79,531
33,268
3,022
9.344
1,499
15.903
5,711,042
36,930
272,486
611,775
2SS,907
23.247
71.877
11,531
122.333
16,321
258,541
118.874
5,259.867
22,578
162,833
529,866
212,182
40,317
66,S50
13,921
108,316
2,182
289,899
125,564
118,290
6,952,365
25,854
15,454
6.458,658
1,052,206
7,510,864
Operatlon
of Care
ntre5
Allo¢atSon of support and Boverna•Ke costs
to actlvltles
Total
2024
Total
2023
Wages and salarles & related costs
(allocated on timel
General
(pro rata to staff full tlme equlvalentl
Legal and other PTofesslonal fees
support cosls
Governance c05ls
(allocated on timel
Dlrecl costs
1,070,764
1,070,764
1,059,165
163.810
163.810
170,131
153 SB2
153 582
1,388,156
223.456
1,3B8,156
223,456
1,370,249
207,110
7,510,864
6,9S2,365
Total costs relatlng to the operatlon of the care centres
9,122,476
8,529,724
Governance costs compflse the following-_
2024
2023
stslf costs
Legal and PTofe551onal fees
118,016
105.440
108,582
Expenditure on tharltable actl¥ltles was £9.122,476 12023.. £8,529,724) of whkh £20,265 12023: É207,6761
was attrlbutable to restrlcted funds and E9,102.21112023: £8,322.0481 was attributable to unrestricted funds.
23

CASTEL FROMA NEURO CARE UMITED
la company limited byguaranteel
NOTESTO THE FINANCIAL STATEMENTS (contlnued)
FOR THE YEAR ENDED 31 MARCH 2024
io
Tanglble fixed assets
Freehold
land &
buildin8s
FSKtures
fittin8s &
equlpment
Motor
Vehldès
Total
Cost orvaluation
At l April 2023
Addltlons
&LX)4.385
796,641
158,116
4.571,232
187,247
12,733,733
983,888
At 31 March 2024
8.Kll,026
158.116
4,75&479
13,717,621
Depreclatlon
At l April 2023
Chargo lor the perlod
510.420
135,851
5,565
3,916,733
252.976
4,563,004
258,541
At 31 March 2024
510,420
141,416
4,169,709
4,821,545
Net book value
At 31 March 2024
&290.6(
16.700
S88,770
8,896,076
At 31 March 2023
7,493,965
22.265
654,499
8,170,729
Freehold land and bulldlngs comprlse the 51tesat Llllln8ton Road ILllllnÈton House) wlth a carrying value of £4.258.871
and at 8erlcote Lane (Helen Ley House) wiih a carrylng value of £4,031,736. Both slte5 were lastvalued In October 2020
by Warelng & Company. whlch resulted In an Impalmient loss of £510,420 for Ullln8ton House In the year to 31 March
2021 but no chan8e In the £arry5ng value lor Helen Ley House. If freehold land and bulldlngs had not been revalued
they would have been Included at a hlstorlcal cost of £5,728.235.
li
Investments
20Z4
2023
U5ted Investments
Market value at l Aprll 2013
Addltlons
Dlsposals
Reallsed lo¥1 Unreallsed loss
Market value at 31 March 2024
372.584
697,481
13,500
1296,4061
141,9911
372,584
1371.3371
11.2471
Hlstorlcal cost at 31 March 2024
396,608
Llsted Investmenls are represented by..
Equlty shares ar￿ flxed Interest securtiles
Cash
As at 31 MaTch 2024
372.584
8,595
381,179
Investment property
Valuatlon
Balance at l Aprll 2023
Unrealised Bain
Olsposals
2023
2.535.000
2,400,000
135.000
12.535,IXK))
ealanre at 31 Marth 2024
2,S35,000
Total Investments
2,916,179
Investment property was valued on a falr value basis of £2,535,¢J)O by the trustee5 as at 31 March 2023. The
method and significant assumptions underlying this asse55ment of fair value wa5 by reference to recent rent
yleld5 based on the type of property and its geographical locatlon. In October 2023, the property was
disposed of for proceeds of £2.535,000.
24

CASTEI FROMA NEURO CARE iJMITED
la company Ilmlted byguaranleel
NOTES TO THE FINANCIAL STAIEM£NTS Itontlnuedl
FOR THE YEAR ENDED 31 MARCH 2Q24
12
Stock
2024
2023
Dome5tlc 5upplles and c0Tr5urnables
39,195
94,297
13
Debtors
2024
2023
Trade debtors
Prepayments and accrued Income
281,486
427 7È3
709.269
147,588
405 708
553,296
All debtors are short term Ilnancbal èssets that a￿ debt Instruments rneawred at amtsrtlsed cost.
14
Credltors: amounts fallln8 due vlthln one year
2024
2023
Bank loans
Trade creditors
Accruals and deferred Income
Other laxatlon and stxlal securlty
Other credllors
56,624
242,710
193,079
120,157
540,546
140,366
134,153
820,682
619,901
Included In accruals and deferred Income Is fee and rental Income relatlng to latèr perlods totallln@ É32,331
12023.. £60,934) whlch has been deferfed In the year ended 31 March 2024. Amounts of £38,675 were
released from the prevlous accountlng perlod.
15
Credltors: amounts fallln8 due In more than one year
2024
2023
8ank loans
898,683
AII Credltors are flnanclal a5sels that are debt Instruments measured at amoit15ed cost.
The bank loans wère secured on freehold property, Investment property and freehold land. Bank loans Incurred
Interest at both a varlable rate {base rale plus 2.75%) and flxed rates of both 3.27% and 6.8%,
All bank loaTh5 were settled In full In Octobet 2023.
25

CASTEL FROMA NEURO CARE LIMITED
{a company Ilmlted byguarantee}
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
15
Credltors: amounts falllng due In more than one yeay I¢ohtlnuedl
Loaxs
An analysls of the maturlty of toans Is glven below=
Amounts fall1r￿ due wrthlnone year oron demand..
Bank loans
56,624
56,624
Amounls falllng due between one and twoyea
Bank loans
56.624
56.624
Arnounls fallln8due between Iv•￿ and flve yrars:
8ank loans
169.872
169,872
Amounts falllng due after Iheyea
Bank loans
672,187
672,187
Total bank loans due
955,307
16
Operotln¥ IEase commltments
At 31 March 2024 thÈ charty had mlnlmum lease payments under non.cancellable operatlng leases as
follows:
2024
2023
Explry date..
Wlthln l year
Between l and 5 years
Over 5 years
23,926
90,720
11,160
4,698
2,902
125,806
7,600
At 31 March 2024 the charlty had mlnlmum lease ￿(eIptS due under non-¢ancellable operatlnE leases as
follows:
2024
2023
EKplry date..
Withln l year
Between l and 5 years
175,000
306,250
481,250
17
Rèsldents. savlngs
An amount of £13.98412023: £13,270} Is held in two secure bank accounts on behalf of residents. All accounting
records for transactlon5 m3de on behalf of resldents are segregated from the records of the charitable
company.

CASTEL FAOMA NEURO CARE LIMITEO
{a company Ilmited by guarantee)
NOTESTO THE FINANCIALSTATEMENTS (continued)
FOR THE YEAR ENDED al MARCH 2024
18
Penslon commliments
The charltable Company operates a deflned contrlbution penslon scheme In respect ofthe staff. The scheme and
Its assets are held by Independent managers. The penslon charge represents contrlbutlons due from the
charitable company and amounted to £114.699 (2023.. E1073211. Included wlthln creditors is an amount due to
scheme provlders totalllnB £27.009 {2023: £22,452).
19
Analysls of charltable funds
At31
March
2024
Aprll
2023
Income
and Èalns
Expendlture
and losses
Tran5fer5
Analys15 of movements Ib)
unrestrlcted funds:
General reserve
General
Falr value rèsÈNe
2.463,324
835,(
8,946.979
{8.983.4881
11.087,3421
1835,(KXJI
1,339,473
Totol General reserve
3.298.324
8.946,979
(8,983,488?
11,922.3421
1,339,473
Desl8nated reserve
Flxed asset fund
2,96s￿22
(2S7,9801
¥922,342
4,629,784
Unrestrl¢t¢d funds
6,263,746
8,946.979
19.241.468)
5,969,257
Anolysls olmovom¢nts In
restrlcted funds:
Restrlcted revenue funds
Nurses, soclal ¢ommltleè fvnd
Lounge refurblshments
New bulld professlonal fees
Software fund
Lelsure and sportln8 actMile5
other
3,274
11521
14,0001
113,0741
17911
3.122
9,000
13.074
153
1,794
4,882
14,951
1,794
4.569
23.655
2.000
ii,o(KJ
{1,6871
119.7041
Restrlcted capStal funds
Profillng beds
16,853
27,853
15611
120,2651
16,292
31,243
23.655
Endowment fund IRMCHDI
4.250,000
4,250,000
Total funds
10.537.401
8,974,832
19,261.7331
10,250,500
27

CASTEL FROMA NEURO CARE LIMITED
{8 tomp3ny limited by guarantee)
NOTES TO THE FINANCIAL ￿ATEmENTs Icontlnued}
FOR THE YEAR ENDED 31 MARCH 2024
19
Analysls of charftable funds (contknE￿d}
The general reserve represents the free fund5 of the chaTity whlch are not designated for partlcular purposes.
The falr value reserve represented cumulatlve surpluses ari51ng from annual remeasurements of the charltable companrfs
investment property at falr value through the Statement of Flnan¢lal A¢tlvitles.
Deslgnated unrestrkted funds Include reserves Invested Sn flxed assets and land and property assets less any assoclated
hank loans.
The endowment fund Is held by Royal Mldland Countles Home for the Dlsabled and comprises a permanent endowment
of £4,250,000, beln8 the 51te of the charltvs re81stered address Irepresenled wlthln freehold land & bulldlngs In note 101,
On l Apill 2011 the endowment fvnd was placed under the proteclion of the trustees of Castel Froma Neuro Care Llmlted
under a Unitlng Dlrectlon. The endowment fund15 beln8 held by Castel From? Neuro Care Llmlted as a trLtstee of Royal
Mldland Countles Home for the Dlsabled.
The restrlcted funds are those fund5 wh5ch have been used In accordance wlth reslrlctlon5 Imposed by donor5 or fttnds
whlch have been ralsed by the charity fow speclflc purposes.
The nurses, soclal commlttee fund rèpresents amounts recelved from the Mary Hallam estate to be spent by the
commlttees.
The lounge relurblshments fund arose of speclflc donatlons recelved and appeals made by the eharlty as 8
contrlbutlon towards the cost of thls prolect.
The new bulld professlonal fees fund represents a speclflc donatlon to cover some of the upfront costs assoclatèd
wlth the proposed new bulld slte.
The Software fund represents amounts donated by Royal Mldlands Countles Home for the D15abled and other donors
to Install relevant software and purchasè the nÈcessary support and testlng requlred to brlng It Into full operatlonal
use,
The lelsure and sportlng aCti￿tIeS fund represents amounts dtsnatèd towards addltlonal lelsure and sportlng actlvltles for
the beneflt of resSdents.
Other restrlcted funds comprise funds In relatlon to: People'5 Wstcode lottery.
EnglSsh Piole¢¢,
Spedallst traInI￿. The Tent Event,. and The
Where a transfer has been made from restrkted to unrestrlcted funds. Ihlsls to reflect that the terms of a restrlcted capltal
donation have been met once the a5socÈated flxed asset5 have been acqulred. The net book values of the assoclated asset5
are Included In the flxed asset designated fund.
28

CASTEL FROMA NELIRO CARE LIMITED
(a company limlted by guaranteel
NOTES TO THE FINANCIAL STATEMENTS {contlnuedl
FOR THE YEAR ENDED 31 MARCH 2024
20
Analysls of net assets between funds
Tanglble flmed
assets
Noi current
assets
Total
Unrestrlcted funds
General reserve
Deslgnated reseNe
1.339.473
1,33Y,473
4.629,784
4,629,784
Restrlrted funds
16.292
14,951
31,243
Endowment fund
4.250,￿0
4,250,0110
8.896.076
1,354,424
10,250,500
21
Related parly trans?¢¢lons
There were related party transartlons durlng the year {2023.' £NIII.
22
Capltal commltmenls
The charlty had ca￿tal commltments at the year-end of £186,0￿ {2023: £770,fKKJI.
23
Controlllng Interest
The charlty Is controlled by ihe trvstees,
29