CASTEI FROMA IIEURO CARE IIMITED IA COMPANY UMITED BY GUARANTEEI REPORT A14D FINAIICIAi STATEMEpif5 FOR ThE YEAR ENDED 31 MARCH 2025 CHARITY NUMBER IIOO%S COMPAP4Y NUMBÉR 04777559
CASTEL FROMA NEURO CARE UMITED (a COMnY limtted by •eel REPORT ANO FIP4ANCIAL sfATEMEPIIS FOR YEAR ENDED 31 MARCH 2025 Cofitents Cha1rf5 reFhNt Trustees, annual fe Auditors. report 11>12 Staiemeni of flnancial a¢tfvrts 8alarKe sheet 14 Statement of casmows 1>16 Notes to the Ilnancsal ststennts 17-27
CASTEI FROMA NEURO CARE LIMITED la c¥npany Umlted ty ow•rteel Castel Frtyna Neuro Cère Limited is è charitstAe compary limrted by 8uarantee operatiffd two Ca ¢efit$ in South Warwickshlre, Lillin8ton House and Helen Ley House. From these two kncatKns the charlty provided qualrty treatmenl. rehabilltatlon and therapeutic facillties fof people wlth complex CondItn$ ranglngfrom braln Inlurlesto rnuttlple xleroys. motor neurone. Parkinson's and Hunbngton's diseases. Providing care at the level our reydents need is expEn5Ne. We achieved an irorne in the fi.ar1 year 2024-25 of £9 rnlllion, predominantw from fees paid by the NHS and othef wllic sector atKI sources. Thi5 xjm akn indudes donatK)ns and 8acs of mfe ihan E90,LYJJ. The healihtsre sertor In the UK remains under C¢)nsiderable financsal pressure. Engurln8 our residents remain appropriately funded is an ongoing challenge at a when we fao considerable Tlsing operatln8 costs. in fee In(fea to reflect increased costs to a delKrt lof rhe year of ftre than £5.. The trustees and management are drfermined 10 stem opeTating at a ddKiL We are wrSUi a stTate8y of working towards fea115tK fee Ie15 whilst also ensuring that costs are actbvety managed. The year WaSry busy. a1 f(xussed on achievir¥ our 8oal of continuing to provide a lrnnt and essentkil service. In •lu8Urt 2024 we beean a revlew of CKbr servkes to erisure that our alÈns to resKlent needs and furthr exFertations, deiails of whth can be found on our websrte: h restoratlon- rEventiOan0- -of-lrte In iaNary 2025The Cao (lualltycomrrtssbn appffjval for the chartfy start a netlycornpleted extenslon at Helen Ley House compring of et new rooms. all with ensuite facilrtva. Tr review and creatjon of more capaclty at Helen Ley House cClned. enabled rhe Trusrees ro make the declsvl In Felyuary 202S to sell an ègeln8 pan rhe Llllington House s that is costty to mainlain arKI outdated for our needs. Ca5tel Froma Neuro ca Limrted anticipate5 that the Sa will help the charrty to generate fund5 to laurKh new sere$. wrth rw'community hub. in retained grounds at LiW¥won House sr(e, where patients Ipiing wrth neuroKèl condriiDns and brain injur5 in the communrty ¢an Trle easity a¢¢e55 serykes. Further details can be fwnd on the chanty'5 website: htt af(h<hari mmuni ac The work ot the charity Is only made posslble by the efforts and good*ryll of the staff and also rnany Indfvlduals who give their time freely in many different ways to offer support. Thls is very much appreciated. Firtally, I wish io thank my fellow trustees foi ther continued dedicatth ènd yJHrt of Castel Frryna Neuro ca Lynrted. Caroline Wilson Chair of Trusiees 23 Oecember 202S
CASTEI FROMA NEURO CARE LIMITED la c¥npany Umlted ty ow•rteel TRusfEES' ANNUAL REPORT (Inck$ Dirertots. and Str•trfK Rewt) FOR THE YEAR ENDED 31 MARCH 21ll5 trustees are pleased to present ttir annual pOrt together wrth the audrted financial statements ol the chanty tor the vear ended 31 March 202S. which are also prepared to meet the requirements for the strateglc and directOfS' fewrt and accounts for Companies Act purp0525 The financial statements have been prepored in accordance with the accountlll8 Jlitles set out In tht notes to the cOUrtS and compfy wrth tht charitVs governing document. the Charitles Act 2011 and Reportin8 by Charilies= Statement ol Recommended Practte applicab to charrtles preparin8 their accounts In a¢¢ordance with the Finala1 Rep)rting Standard applicable in the UK and Republic of Ireland published in Ottober 2019. On l April 2011 Castel Froma las the chartty was then known) merged wtth Royal Midland Counties Home for the Disabled. a charity under common control. Royal Midland Coynties Home for the Disabled remains a separate charity. placed under a Uniting Direction with Casiel Froma. On l April 2011 the expendable assets of Royal Midland Counties Home for the Disabled were trèrbsferred to Castel Froma and the perrnènent endowment Wa5 placed under the protectlon of the Trustees of Castel Froma. The following financial statements report the combined ptrformance and financial position of Castel Froma and Royal Midland Counties Home for the Disabled. Reference administrati wrf0ml•0n Castel Froma Neuro ca Limited:. Registered charity number Registered company Nrnber lIC5 04777559 Country of incorporatlon Eland Royal Midland Countie5 Home for the Disabled registered charny wml (Linked charrtyl IiC(86>1 Re8iStered office 93 Lillington Road Leamington Spa W•v4irk5hire C4132 6LL Audltors HB&O Ltd Chartered Accountanls and Statutory Audlttsr Highdown House. 11 Hi8hdown R¢)ad Leamington Spa C431 Ixr 8anke Lbyds 8ank 73 The Parade Leamiwon Spa CV32 488 SolkrtOf5 HCR Wrlght Ha55all LLP Otympus Avenue Leamin8ton Spa Cd34 6BF HCR Legal LLP Ellenborough House Wellington Street Cheltenham Gi50 IYO
CASTEI FROMA NEURO CARE LIMITED la c¥npany Umlted ty ow•rteel TRLisfEES' ANf4VAL REPORT (cortirnd) FOR THE YEAR ENDED 31 MARCH 21ll5 Olrnctorn and trurttts and dlkl•ls President Parron e-presidert 12th Ead of Aylesford Mr T Cox. Her Majest$ Lord 'eutenant of Warwkkshire Mr5 D DOw(Swe11 OBE Trustee5 Dr C Wilson (Chair) Mr G Murrell (we-ChaIr1 Mr S J Nicklin Mrs L Iloliday MrD Lei8h-Hunt Dr D Stableforth Mr J Evi50n Or S K Seeley lapfv)inied 8 April 20241 M5 S J Heale5 (appointed 8 October 2024) ExUfkk) Chairman of WarwKk Distrtt CourKII His Worship the Mayor of Royal Leamiwn Spa Senior Mana8ement Team Mrs M 8awden (Chbef Execl¥e & Nomin*ed individuall Mrs E Jackson (Deputy Chief Executi¥e) Mr A Albu (Registered Manager. Lillington House and Helen Ley House Mi55 N Fyfe Iclinical Services Manager) Ms K Gates Iclinlcal Quality Improvement Mana8erl Company Secretary Mfs M 8awdÈn Care Standards Committee Mrs L Holiday (Chaif l April - 8 0(tober 20241 Or S K Seeley (Chair 8 October 2024 onwards) Or C Wilson Mr G Murrell Mr S J Nicklln Mr D LeEh.Hunt Ire5igned l July 20241 Dr O Stableforth Mr J Evison Mr$ 5 J Heales Flnance. Assets & Rlsk Comrnttlee {includlni Pfofiling & fvndraisirql Mr G Murrell (Chai Dr C Wilson Mr 5 J Nicklin Mrs L Hollday Mr O Lei8h-Hunt Dr D Stableforth Mr J Evison Dr S K Seeley Ms S J Heabes Remuneration Committee Mr D Lei8h-Hunt (Chair l April - l July 20241 Mr J Evison (Chair l July 2024 onwards) Or C Wilson Mrs L Holiday (resigned l July 2024) Dr S K Seeley (appointed l July 20241 Mr S Nicklin Mr G Murrell
CASTEI FROMA NEURO CARE LIMITED la c¥npany Umlted ty ow•rteel TRLisfEES' ANf4VAL REPORT (cortirnd) FOR THE YEAR ENDED 31 MARCH 21ll5 OBJEcnvES AND AcrwnES Misskm Stateftnt Iky. resplre and Iw4erni resldefttlol core 4th 2+how rninlft4 cort fvr those vAth neurowtal ¢ondklDns We run outstandlng care and rehabilltatlon centres provkllng day. respSte and knng-lerm serylces for people disabled by neurological Conditions. To wovide the highest stsndard of nursin8 and care for Individuals with neurological condilions who have complex needs: To bring tOReiher eJ(perts from every therapeutic field to help our residents live as full a lrfe as possible,. To integrate family. friends and the l¢)cal Community Into the lives of our residents and provide a supportive environment for their carers,. To excel in palliatrve and end of lrfe care to help our residents live their lart days as they would wish. Iree Irom paln and with as much dignity as possible- To extend our care Iwnd our centres. into the local community and onto a resrIal and national level,. To operate wrthin a finatKially and environmentslly sustsinable Iramework. Princip¥l •¢<Nibe5 The principal artivty of Castel Froma Neuro Care Limited is the Provision of care and accommodation for severelv physical dlsabled people. To achwe th obiecljve the drity operales Iwo registered care ¢ertres b45ed at the followin addresses=. Lillington House 93 Lillin8ton Road Leamirsgron Spa Warwickshlre CV32 6LL The Helen Ley Care Centre 8eficoie Road BIKkdown Leamin%ton Spa Warwickshire CV32 6QP The centres provide 24-hour nursing care. in addition to physiotherapy. occupational therapy. hydrotherapy, speech and lan8Ua8e therapy. awomatherapy and reflexolo8V. The principal activty of Royal Midland CountiEs Horne for the Disabled 15 tD 5UPPOrt Ca5tel Frorna Neuro CarE Limited. The sale of approxnatety 1.5 acres ol land in 2(Xll alowed Royal Midland Counties Home for the th"sabled io invest a large sum of money in property. The monihly incorne has been allocaied to projecis in Casiel Froma Neuro Care Limlted for physically disabled people. Al of the projects have directty benefited the residents. Volunteers In addition to approximatety 217 pahl employees, thecharityalso benefrts from in excess of L(KXI hour5 of donated time each ¥ear. Th15 fi8ufe includes Ilme spenl al the care centres committee members. drivers and letter writers. who all participate in fundraising e%ntS. Vlsit residents, and Kcornpany them on excursions outside the care tre.
CASTEI FROMA NEURO CARE LIMITED la c¥npany Umlted ty ow•rteel TRLisfEES' ANf4VAL REPORT (cortirnd) FOR THE YEAR ENDED 31 MARCH 21ll5 STriICTURE, 60VERNANCE AND MI4AGEMEN7 Cistel Froma Neuro Care Llrnkted Is a charrtable company limited by guarantee. Incorporated on 27 May 2003 and re8iStered as a charrty on l Decernber 2003. The company was established under a Memorandurn of Association. as amended ty special fesolutions of 7 Novembef 2LK13 and 25 November 2010, which eslablished the objects and powers of the company and i5 governed under it5 Articles of Association. Royal Midland CCntieS Home for the Disabled 15 an unirKorporated a55ociation Set up under a Trust Oeed dated 2PJuTre 1884. as amended on 1st April 2011. Oryanlsatlon and struaure The overall management of the thar is carrnd out ttre Chief E¥ecutlve who b dlrectty reSporble to the trustees. All nursing and care staff report to the Rewstered Mana8ers and all rKin-medical staff report to their relevanl line mana8er. The members ol the SenM)r Managemeni Team comprise the Deputy Chief Executive. Regisiered Mana£ers. Clinical Quality Improvement Manager and Clinical Servi¢es Martager. all of whom report to the Chief Executive. GOVern•n and internal wrtrol The '8oard of Trustees. Comwises the directors of the compary. A list of tl>se served In these capacitles durin8 the period is Set out on page 3. Member5 Ot the company guarantee to tontribute an amount not exceeding £10 to the a55ets ¢1 rhe ttjmpany in the event of windln8 UP. A panel comyisin8 existin8 commrttee members selects members of the three committees.. the Care Standards Committee,. the Finances, Assets and Risks Committee: and the ReMUneratn Committee. The trustees meet quartertr4. New trustee5 are eberted by the'8oard of TQees'. N¥ trustees are indurted durin8 their first trustee< fftttir, Tru5Lee5 are encouraged to appropriate external trainin8 evenis where these will facilitate the undertèkin8 of their role. Pay pollcy for senlor st1 The pay of the senior staff is reviewed by the Remuneratlon Committee lat least annually) and normally Increased in Ilne with average earnings. In view of the nature of the charity. the trustees behMark against pay bevels in other regional charities of a similar size. ff recruitment has proven drfficult in the rKent pèst a market addition may also be pald. Pl•nsfor the fviure In January 2025 the extenst4n ai Helen Ley becanx opeiatlonal and has wovlded an addrtlonal eleht en-sulte bedr¢)oms at that site. The extension forms pan of a viider reW by trustees of the chartvs premises in the context of the need for the charity to aln its care servkes wrth Chae$ in ndeffl heahkare ser¥¢es. includin8 an Increased focus on rehabilitation.
TEL FROMA NEiIRO CARE LIMITED (a c(¥np•ny Ilmlted by Dwarteel TRUSWEES, AIIIIVAL REPORT IcontwKd) FOR THE YEAR ENDED 31 mtCH 2025 STIIATEGK REp£T 2024-25 was another extremely challen8in8 year as the charlty, Ilke many In the sectof. was dealin8 Wlth signiflcant intlationory pressures in the economy, including an increase in employers, National Insurance. that were in part exacerbated by a volaiile wlitkal envlronment around the world. Wecontinue to strive to provide a high standafd of care for all of our residentsat both sites. Tothis end, we have where possible, maintained Ihe number ol hours each week In respect of physlotherapy, occupational Ihefapy, psycholo8v. dietician and speech and longuage therapy. The latest CQC inspection reports Still assess both sites as'Good'. The latest lrts&>ettloN at Helen Ley House was carried out in-person In January 2025 whilst the most ie¢ent inspection for Lillington House was a desktop review. Fin4NKial revievj Details of the financial position of the charity are set out in the attached f IntIal statements. Income tor the year totalled £9.379.311 and expendlture totalled £9,969.926. Net eXndItre and the net movement in funds for the year totalled £590.615. Unre5trKted reserves at the yeaT-end amounted to £9.641,025 and these comprised general reserves of £2.821,415 and designated reserves of £6.819.610. Restricted reserves comprise the restrkted reserves of Castel Froma Neuro Care Llmrted totallln8 £18.860. Durln8 ihe year. Ihe trusiees tonsulted the Charity Commisslon and took approprlate legal advke to explore the possi.1[tY of the endowment fund. which at f4,250,(W. represented the majority of the value of the site at Lillington House, being released from its restrlcth?n and transferred into unrestlted luThJs. Thls corresponds wlth the char1t5 longer-term airn to widen the extent of it5 5eT¥i(es as detailed on page 8. Le8al advice was clear that the charity could proceed and accordin8ly. a tiansfer has been made to effecl this. The endowment fund now has a value of £Nil and the general fund was increased by £2,388.(W. being the anticipated realisable value of the sale of ihe relevant parts of the slte, wlth the balance of £ 1.862,000 transfefred Snto deslgnated funds. knvestrnent polky The charit5 investments are held in accordance with the trustee5' powers. The irustees hèd previously considered the most appropriate policy for investin8 the funds and found that a mixture of property Investment and investment in a portFolio of equities had, at that time, met their requirement5 to generate both income and capital growth. Since the disposal of its remainSn8 investments in 2024. there has been more focus on the charlty ensurin8 that cash is available when needed. Rlsk fevlew The trustees have put In plxe a formal risk ma6eMent prrxess to assess business rlsks and Implemenl risk management strategies. This involves identifying the types of risks the charity faces, prioritisin8 them in terms of tentIal impact and Ilkellhood of occurrence. and Identlfying means of mlllgatlng ihe rlsks. As part of ihls process ihe trustees continually review the adequary of the char5 current internal contro15. The tru5tee5 arE pleased to reFort that the charity'5 internal financial controls. in partitular. conform to 8uiddiros issued by the Charity Commission. The trustees have corrflucted thelf own review of the rn4r rlss io whkh the charbty b exposed. and systems have been implemented to mit4gate those risks. The signrficant external risks to the charity are noted within the key risks identified below and include the flnan¢lal risk of the ¢harlty not meetin8 rts budget. Internal risks are minlmlsed by the implementaiion of internal contiol procedures for authorisation of transactn5 and projects and through sraff development. These prtxedures are reviewed periodilIv to ensure thry still meet the needs of the charrty. The key risks as identified by the twstees In¢de. Residents. lees as awarded by Commissionery not keepn8 pace with inllation and the ensuin8 difficulty in achwing a balanced bud8et. 8b¥en the requlreffent to meel and malntaln the charitrfs repulation and commitment to care standards.. Delayed settlenwnts from debtors. Wln8 to an adverse Imp¢t on cash fvw and a resultant deLay In settlemènts to suppliers.
TEL FROMA NEiIRO CARE LIMITED (a c(¥np•ny Ilmlted by Dwarteel TRUSWEES, AIIIIVAL REPORT IcontwKd) FOR THE YEAR ENDED 31 mtCH 2025 STIIATEGK REp£T The trustees have examined the chaftt(s wuirements for reserves in the light of the main rtsks to the organisation and have esiabllshed a [x)IV whèreby sufficient unrestricted rer¥eS afe retalned in order to meet unforeseen increased working capital requirement5 at a level equal to at least Six months, operating expenditure. In April 2021. the trustees further clarified the reserves poliry with an addilional aim to hold a level of reserves in liquld assets such as cash deposits or investment lunds of at least thret months. operating expendlturé. The polKy wès reviewed again In 2025 and is still considered to be appropriate. The Sirategy of the trustees ts guided by the following principles: To build re5er¥e5 through planned operating surplu5e5,' To review the poliry reguLidy in the light of financial performance and any changes in risk as5e55ment,' To apply thls pollcy in coniunctlon wrth the Investment pollcy. to enable a proportkjn of the reserve to be invested, and To limit the abiltty of the charity to draw from rts reserves by only authorising the Chief Executrve or Chair of the Trustees to èmect such a drawdown. with an obligat io repoft and such withdrawal to the 8oard. Followlng the lègal ath4ke taken regardl the statu5 of thè endowment fund and the transfer effected from that fvnd. the level of unrestritted reseryes at the yearnd was £9.641.025. of which there was a des18nation of £6,819.610. This designated fund represents the maprity ol the net book value of the lunrtional fixed assets ol the charify and is thefefowe nor deemed to be available to the ch8rily for activilies other than io which these assets are currently committed. The level of reserves available to the chartty for unlore5een workin8 Capital requirement5 Was therefore É2,821.415. which. ar Just over three months, operating expendiiure. Is short of ihe six months tartet. based upon current le¥els of activity and bvd8et5 for the forthcoming year5. Liquid asset5 are a150 bekjw target. However, as part of the trustee5' wider strategic review of the char5 premises. the decision was taken to sell part of the site at Llllinoon House. and wilh flfm offers In pl&e. this f• ex&ed to 8eneTaie cash of o¥tr £2.3mllllon in 2026 (reflected In current assets in the balance 5heetl. hence the charl$ liquidity position is considered to have con5iderabty eased in the short to medlum term. The trustees therefore conslder that the current level of reserves is adequaie for the charlty to meet its ObltiVes. Valuatlon ol prwrti•s As part ot rhe wider revlew of the chartys premlses and the legal athke taken on the enthwmert fund, the charity obtained valuations of the Lillington House 5rte towards the end of the tinanciol year. The wlK¥le Site wa5 valued in the region of £4.51N).IXKJ and thus not deeffd to be impaired when compared io Its prew¢)us carryln8 value. Separale valuatn5 were obtained fof rhe elements of the sr(e intended for markering and resabe and, with other modificarion costs factored into the offer5 made. £2.388.CO) has been transferred from fixed a55et5 to current a55ets. As there has been $18niflunt further Investment In Helen Ley House. since its lall valuation. a fresh valuatlon wlll be considered in 2026 to ensure its carryini value remains appropriate. The trustees are satisfied that at the year end the slte was IKJt impaired and that its current carryin8 value is appropriate. No adlustments were therefore mède to the carryln8 values of the propertles for the year er4Jed 31 Mèrch 202S. Fundra14r Whilst charity (h)es incur some expenditure in respect ol lundrnising activiries, including prolessM)nal fees for a third. party a8ent in respect of corporate charty donations, these are considered to be on a small ale and do not form part of the charitvs principal artviities. The charity neither part1PateS in publicty marketed fundraisi events nor in the actv4e soliciting of donations from members of the general public. Accordin8ty, the charity is not lIStered with the Fundraisin8 Règulator. although the trustees will keep the situatlon undér review. The trtsstees ¥tsId like to acknowledge their sincere gratitude for the donator6 in the ar trom: The Edward Cadbury Trust. W A Cadbury Trust and Tr* RowlarndsTwst. The maiorty 0fttr ch)nations were to supplyfumiture and equipment for the Helen Ley eXtensTh.
TEL FROMA NEiIRO CARE LIMITED (a c(¥np•ny Ilmlted by Dwarteel TRUSWEES, AIIIIVAL REPORT IcontwKd) FOR THE YEAR ENDED 31 mtCH 2025 STATEMENT OF PUBLIC BENEFTW Thè trustees are ndful of the need to demonstrate wbllc beneflt In the opwat6on of both Royal mland Countlès Home for the Disabled IRMCHDI and Castel Froma Neuro Care Limite(l. For many years the dwrity had Operated at a tradin81055 and had been wholly dependent upon RMCHD to provide substantsal donathjns in order to keep the charity running. The trustees afe now pursuing a slrale8y of maintsiniwd iealistic fee levels whilst also ensuiin8 that costs are aclNety mana8ed. which has started to produce financial stability forthe charity. The tn15tees have thly considered the Charity commis5K,5 published 8uidawKe on public berrfrt requirements under the Charitles Act 2011. As such. Ihe trusiees carni cMJi those objects and actfr¥rtles by contfaCtIN8 with, amort8Si Others. NHS En8land and varlous Inte8rated Care Board5 to provide'.- Rehabilitation ot •ndi¥idualsfolbwing catsstroph¢ TrAain traumas. and Continuin8 specialist and complex cère for indwiduals wrth on801 brain related trIrn3$and physical disabikiies. As a result ol this. the charity is deemed to demonstrale a public benefrt in assi5tin8 the NHS and other public l)odies by offerin8 a nre tallored solution to these IrIdual5 whose com e¥ and often ng.teTrn care needs would othenvise place a 5i8nificant burden on publicty funded resoue5 and facilitie5. Furtherniore, in common wrth other charities in the care sector, the fees charged to res"NYents are based on a structure of cost reco¥Èry that eendS onty to dlreet care costs and artcilary ovethads. but byhkh exdudes a drge for room rerttsl. As yxh the charity is considered io offer a demonstrable publK benefit to residents. their familie5 arKI wider society in providing thi5 servlce within the context of its overall care obligations. The tharity ks optn to all may benefit from tht high Inter&l¥e servkes offered at Castel Frcmna Neuro Care Limited. We know we could do rMre and that is why we are 5eekin8 to provide more appropriate facilrtie5 and surroundin8S to support the more complex needs we need TO meet. A broader range of servkes is contemplated which woukl offer further support to t$¢ needin8 the spedalised servke we #er. This appro•th is enllrely drlven by the charltls oblectlve of relie¥in8 person5 With physical disabilities by the provision of care.
TEL FROMA NEiIRO CARE LIMITED (a c(¥np•ny Ilmlted by Dwarteel TRusfEES' ANNUAL REPORT 1contlrndj FOR THE YEAR ENDED 31 MARCH 2025 Trust resPfyIIIItIes In relatlon iothe 11n•Ill statern The charity trustees (who are also dirertors of Casiel Froma Neuwo Care Lwnite(I for the wrposes ol company law} are rtsponsiblt for yeparing the Trustees, Annual Rtport lirKluding the Strateglc Report) and the financlal statements In accordance with applkable law ènd Unlted Kin8dom kcountin8 Standards (Unlted Kin8dom Generally Accèpted Accounting Practice). Company law rewires the trustees to prepa financial stateffnts for each tinancl year. which Ve a true and fair view of the state of affalrs of the tharitible tornyny and of the Intoming fesourtes and application of resourtes. in¢ludin8 the ITorne and expenthture, of charrtable company for that perKJd. In preparin8 these financial ststemerrts. the trustees are requlred to.. select suitable accounting polics and then apply them consistentlv,. observe the Methods and princieS In the Charrtie5 SORP 2019 IFRS 1021: make judgements and estimates that are aSOnable and prudent. state whether applicable UK aceountlng standards have been followed. sublert to any material departures disclosed and exploined in the tinancial ateMents.. prepare the financial statements on the going concern basis unless it Is Inapproprlate to presume that the charTty will continue in opefation. The trustees are resF¥)nsible for keeping proper accounting records that di5d95e with reasonable accuraci at any time the rinancial position of the char[tab company and enable them to ensure thal the flnanclal statements comply wlth the Companie5 Art 20. They ère a150 responsible 101 5afe8uarding the a55et5 of the charrtable company and hence IOT takin8 reasonable steps lor the Pfevention and detecr#?n of Iraud and other irregularities. Statement as to dbdowre to our In so lar as ihe irnstees are aware ai the t1 ol appfovlr our trustees, annual report. tlxbre is rn levant audii inforMatn (rf which charitable compa$ auditr* is unaware: aryj the trustees have taken all steps rhat they ouehi to have taken to make themselves aware of any relevant audit Informatlon and to e¥bliSh that the auditor is aware of that information. HB&O Ltd ha¥e e¥weMed their will1ne$S to contlntse in the capacity of the comparfs 4wthtcvs. In approving the Trnstees" Annual Report we also approve the Strategic Report included therein. in our capacity as company directors. Approved by the m15tees on 23 Oecemiv 2025 and ygned on their haIr lyr. Dr C Wilson Chair of Trusrees
CASTEL FROMA NEURO CARE LIMITED la comp•ty Ilrnlted by 8u¥rtee INDEPEPIDEIIT AvoOR,5 REPORT TO THE MEMBERS OF CASTEI FROMA NEURO CARE UMITEO FOR THE YEAR ENOED 31 MARCH 2025 Oplnlon We have audited the financial statements of Castel Froma Neuro Gire Limited Ithe 'charitable compan) for the year ended 31 March 2025 whlch Comprlse the Statement of Flnancial Actrélties. the Balance Sheet. the Statement of Cash Flows and notes to the f inancial statements. includin8 a summary of si8nificant accountin8 policies. The linancial T@rtIng framework ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin8 Financial Reporting Standard 102 Yhe Finan¢i41 Reporting Standard •ppli¢able In the UK and Republic ol Ireland" Iunited Kingdom Genernlty Accepted Accounting Prarticel. ID our opinion the financial Srateffw. give a true and fair View of the state of the charitable company's affairs as at 31 March 2025. and of its incomin£ resources and application of resources. includine rts Incorne and expenditure. for the year then ended.. have been proper prepared in accordance with Unrted Kingdom General Accepted Accounting Prnctice,. and have been prepared in aCcOrdae wilh the requirements of the C(wTrpanies Act 2. Basisfor op•nh)n We conducted our audit in accordance with International Standards on Auditin8 IUKI IISAs IUK)) and applicable law. Our r@s)nSibl11[IeS undér those standards are further described in rhe Auditorfs respOnsi.11t1s for the audit of the financial 5tatemen15 sertion of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'5 Ethical Standard. and we have fulfilled our other eihical responsibilities in accordance with these requirements. We belleve that the audit evidence we have obtained 15 suff icient and appropriate to provide a basis for our opinion. (crfK0N$ relat[ to 8olng crKern In audrtin8 the financial statements. we have concluded that the trustees, use of the 8oln8 concern basi5 of accountin8 in the weparation of the linanclèl statements Is appropriate. Based on the work we ha¥e performed. we have not bdentIfd materlal uncertaintles relat1 to events or condltlons that. iliVidualty or collectively, may cast $18nrficant doubt on the charitable companW5 abilityto continue as a going concern for a pèrbod of at ast twefvt months from when thè financ1 statements arÈ aUthored tssuè. Our responslbilltaes and t¢ responslbllilies ol the truslees wlth fespecl to g0Sng COern are descrlbed Sn the relevant sertion5 of thi5 report. io
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel INDEPENDENT AUDffOR'S REPORT TO THE MEMBER5 OF CASTEL FROWI NEURO CARE UMITED Icontirndl FOR THE YEAR ENDED 31 MARCH 21)25 The other Informatlon comprlses the Informailon Included In ihe Trustees. Annual Report, other ihan ihe flnanclal 5tèternent5 and our auditorf5 report thereon. The tru5tee5 are responsible for thp other information containpd within the Trustees. Annual Report. Our opinM)n on the financial statements does mt cover the other intormation and, eycept to the exlent oiherwi5e explicltly stated in our report. we do not express any form of assurance concluslon thereon. Our responsibility is to Tead the other information and, in doing so, consider whether the other information is materially IKorfjistent wrth financlal statements or Qui kTh)wd8e Obta1 In the course of audlt or othep415e appears lo be materially misstated. If we identtfy Such rnaterial inconsistencie5 Qr apparent material misstatemenls. we are required to determine whether this gives rise to a material misstatement in the financial statements themsefves. If. based on the work we have performed. we condude that there ts a materlal misstatement of thts other informatKn. we are required to report that fact. We have nothlng to report In thls re8ard. Opiniorts on other mattets presc¥AJed ty the comp•t5 Act 21%J6 In our oplnlon. based on the Wofk undertaken In the course of tPe audft: information 8i¥en in the Trustee5' Annual Rewrt li01)rating the 5trategK report afKI the directors, reportl ft)r the financial year for whi¢h the financial statements are prepared is consistent with the financial statements,. and the straie8ic report and direttors. report have been prepared in Kcordance with applKable legal reqUIrnent M•tt•r5 on which w• •r• r•quir•d to r•port by In the l¥ht of our knowledge and understanding of t1 charItae cory•ny and irs environment obtsined in the course of the audit. we have not idenilfied materlal mlsstatements In the slrategk report and the dlre¢tors' report. We have nothing to report In respect of the follow•n8 matters In relatlon to which the Companies Act 2CM)6 requlres U5 to report to you rf, in our otynion- adequate accountlng records have nol been kept. or returns adequale for our audlt have not been re¢elved from branches rbot Visited by us.. or the finarKlal ststements are not In agreement wrth the accountlre ordS and turnS,. or certain disclosures of d1ctors, remunerat specrfied not made: or we have not rectlved all the inforrn4b.on and explanaiions requlre for our •udll R•sP111tA ul trust•e5 A5 explained more lully in the Trustees. Responsibilities statement Set out on page 9, the tru5tee5 Iwho are a150 the directors of the charitable company for the purposes of company law) are fesponsible for the pieparation of the financial statements and for bein8 satisfied that thvi 8ive a true and fair view. and for such interr)al control as the trustees deiermlne is necessary io enable the Weration of financlal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern. distlosing. as applicable, matters related to going concern and using the going concern basis of accountin8 unless the trustees either intend to liquidate the charttable cornpany or to cease operations, or have no realistic alternative to do so. li
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel INDEPENDENT AUDffOR'S REPORT TO THE MEMBER5 OF CASTEL FROWI NEURO CARE UMITED Icontirn*dl FOR THE YEAR ENDED 31 MARCH 21)25 Audltrfs r•sPwsSblll tor th• wdlt of the Ilnandal sM•rnents Our objertives are to obtain 0$oftable a55urarKe abovt whether the f inancial statements as a whole are free from material missraiement. whether due to fraud or error. and ro issue an auditorfs report rhai includes our opinion. Reasonable assurance 15 a high level of a55urance, bul it 15 not a guarantee that an audil conducted in accordance with IS IUKI will always detect a material misstatement when it exists. Misstatements can arise f rom traud or error and are consldered materlal If, Indivkjually or In the •ggre8ate. they could reasonabty be expected io Influence rhe econornic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non<ompliance with laws and fegulations. We design pr¢xedures in Ilne wlth our responslbllitles. outllned above, to detect material misstalements in respect of Irregularilies. Includlne fraud. The extent to which our byocedures are capèble ol detectin8 lrregularrt$. includin8 fraud, is detailed below.. The audit process includes an assessment of the entity's risk enwronment. through ellry of and discussion with management and those chaiged with governance. includlng an assessmenl of ary key la and regulatknns wlth whlch the charrtable company must comply in the ordinary course of its operations. Additionalty, the overall risks of irregular transactions occurrin8 are assessed folwing our observations and confirmaiion of the design and implemenialion of m4na8emenl's controls. Whilst we are mindful of these risks. our audit focus is geared towards the risk of material mi55tatement in the financial statements as a whole. A5 Such. our procedures cannot Kuarantee that all transartions have been fully compliant with all relevant laws and regulations. including those regulaiions relating to fraud. as our procedures afe not designed to detect all instances ol norFiompliance. By definition. the risk of our detertion of non-romplianie is greater wheie iomplionce wtth a law or regukition is rerno¥ed from the events and tranSaCrn5 reflerted in financial ststements. The risk is also greater re8ardlng Irregularities due to fraud rather than ffror. as fraud Involves Intenllon•l concealment, lor8ery. colluslon. omi55ion or misrepresentation. A further description of our responsibilrties is available on the Financial Reporting Council's website at= udi This description forms part of our auditorfs report. Use ol our report This rewn is made solely to the Charitab compan5 membefs, as a b(Mty. in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken $0 thai we might Stale to the charitable company's meml)er5 those matters we are required to State to thern in an auditor's report and for no other purpose, To the fullest extent permitted by law. wt do not accept or assume responsiblllty to anyone other than the charliable mpany and the charitable company's mernbers a5 a body, for our audit work. for this report, or for the opinions we have formed. Mark A5hfield BA FCA15enior Statutory Auditor) For and on behalf of HB&O Ltd Chartered Accountants and statOry Auditor Highdown House IIHighdown Road Leamlngton Spa Warwickshire CV31 IXT 23 December 2025
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel STATEMEKf OF FINANCIAL ACTivmES linthdirya irKoffle and experxliture ount1 FOR THE YEAR ENDED 31 MARCH 2025 Rstrfctsd Endowrnent Funds Totsl 2025 Totsl 2024 Funds Incorne and endryments frryn: DonatN)ns and legacies Charitable activities Operation of care centres: 14.039 79.850 93,889 371,945 Residentlal lees 9.222.836 9.222.836 8.424.443 Invesimen 31,618 31.618 158,066 Other 30.968 20,378 Total Incorne and endM¢ 9,299,461 79,850 9,379,311 8.974,832 Expendlture on: Raising funds 18.783 18,783 96,$11 Charirable artr¥rtses: Operation ol (are centre5 9.931.910 19.233 9.951.143 9.122,476 Total expendlrure 9,950,693 19,233 9,969,926 9,218,987 Plet lexpendllurev Inco 1651.2321 60.617 159J.615) 244,1551 Transfers between funds 17 4.123.1)Xl 14.323.IXA)I Other r•(ognls•d la1/1105%•5). Other 8ainsl Ilossesl 42.746 Il•t m(wefflert kn lunds 3.671.768 {4.262.3831 1590.615) 1286.9011 Re(onciliion d lund5 Total fund balances tOU8hi forward at i April 2024 17 5.969.257 4.281,243 10.250.5 10.537,401 Total fund balances carl éonvard at 31 March 2025 17 9,641.025 18,860 9.659.885 10,250.5(K) All income ond expenditu derive from continuini activities. The staten*nt of fInala1 èctivltles Includes all 8alns and losses ¢08n1$ed InE ihe wr.
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel BALANCE SHE AS AT 31 MARCH 2025 2024 Axed assets Tangible amets 6829.167 8.896,076 6.829.167 8,896,076 Current assets Srock and assets held for resale Debtors Cash at bank and in hand li 2,435.068 459.187 659,432 39,195 709.269 1.426,642 3,5S3.687 2,175.106 edltors: amountsf•Thw wlthln ¢)ne year 1722.9691 1820.682) 2,830.718 1,354,424 Tot•1 assets less current M•blttles •rnl net •sieis 9,659,885 10.250.5CK) Unrestrfcted fvnds General lund5 GeneTal 17 2821.415 1,339,473 Tot•1 General 2.821.415 1.339.473 17 6319.610 4,629,784 9.641.025 5.%9.2S7 Rostrfcted funds 17 18.8EA) 31.243 Endalment fund (h by Casttl Froma He0 (art Ltd asa trust*o of RMOIOI 17 4.250.LMJJ Totalfunds 9.659,885 10.250.5CQ These accounts were approved by the Board of Trustees ¢Jn 23 December 2025 and 5[d on its beholf OR C WILSON Chair 14
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel STATEMEKf OF CA5HFU>WS FOR THE YEAR EP40ED 31 MARCH 2025 2025 2024 Cash {u5ed Inv w11ed lry Operati actmi (277,0311 60.599 Cash fltrws from Invésolrf artl¥ftles Payments to acquire tangible fi.xed assets Receipts from disW5al of fixed a$5et Investments Recelpts from dlsbx>sal ol fLed assets Interest received Rents received Cash (used inl/ pro¥kled by kwestiry artr¢ils I540,41) 1983,8881 2,864,838 I8.3 12,228 19,390 {490.1791 7,354 150.712 2,039,016 Cash fl¢Msfrom flndty aal¥4tles New loans Repayment of k)an5 Interest paid Cash used In financ1 a¢thrftles S07,500 11,462,8071 147.74S} 11.fy)3.052) IDecreasell in(vease in o5h and cash equivalents Cash and cash ewI¥¥nts at l Aprll 1767.2101 l.(Y36.563 1,426,642 330,079 Cash and cash •qufvalents at 31 Marth 659,432 1,426,642 Cash and cash equl¥ale•tsconslsts c*. Cash and cash equivaleDts at 31 March 659.432 1,426,642 Anatysis of thary•5 in n•¢ fvnds Atiw At31 Marth 2025 Cash and cash equlvalents 1.426.642 1767.2101 659,432 Total net lunds 1.426,642 1767.2101 659.432
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel r40TES TO THE STATEME1 OF CASHFU)WS FOR THE YEAR ENDED 31 MARCH 2025 L ReconcHlatlon ol rt ftwèment In lunds to net cash tlow Irom operatln8 acll¥hles 2024 Net movement in Its 1590.6151 I286.1} Renls receb4ed Interest ceiVable Inte$t payable Depreciation of tangible fixed assets Profit on disposal ol tangible fixed assets (Gainsll losses on InstMentS and investment syoperty Ilncreaselldecrease in stock Cjecreasellincreasel In debtors IDecrea5el/ increase in credrtor5 119,390) 112.2281 1150,7121 17,3S41 47.745 258.541 212.706 112,CKX)) 42,746 55.102 1155.9731 257.405 17,8731 250.OB2 197.7131 cash {used inll provthjed by operating aaivits 1277.0311 60,599 16
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel P40TES TO THE FIIW4CIAL sfATEMEKt5 FOR ThE YEAR ENDED 31 MARCH 1025 Prln¢lpal polks The pri1paI accountiry policies adopted. iud8ements and key sources of estimatM)n uncertèinty in the preparation of the rinancial slalements are set out below as f01hs. These policies have been consistently applied unles5 olherwSse staled. al 8asls of wep¥•t The financial statements have been prepared in accordance wrth Ac¢ountin8 and Reportin8 by Charlties= Slatement ol Recommended Practiie applicable to charities preparing their account5 in accordance with the Financial RekK)rting Standard Jpplicabie in ihe UK and ftepubl ol IreLind ssued in October 2019, the Financlal Reportine Siandard appllcabl¢ in the UK and RepublK of Ireland IFRS 1021 Companies Acl 2()6 and UK General Accepted Accounting Prartice. Castel Froma Neufo ca Limlted rne5 the definition of a wblic benefit entity under FRS 102. Assets and Ilabilitles are IllIallY re¢o8nlsed at historral cosi or transaction value unless otherwise stated in Ihe relevant 袢ountin8 policy r*gtelsl. The financial sLitements are presented in sterlin& which is the functlIa1 Curre of the rharrtable company and rounded to thè nèartst £. b) Pr•paratityb ol1 a)Unts on • i¢iry conc•rn b1$ The tharity reported an adverse net mvement In furwas of £51,615. Ho¥vever. it should noted that thls pèrformance was again in the context ol stubborn inflationary pressures in what has continued to be 3 volatile economic and wlttical environment. The trusiee5 consider that the chaflty'5 fVre plans. which will include a focus on rehabilitation and care of clinically comp1 cases combined wth an oreoin8 review ol premtses. will result In •n over)11 redUctn in expendrture as perientage of incor. The IoTeca5t5 lor operating (ash flows, partKular wtth the Imminent sale of part of the Lillington House slte. together wtth the level of reserves. suggest that the charrtvs future IS secured for ai leasi 12 months folbwlng the authorisation of these accounts. Accordingly. on this basis the trustees consider that no rnaterial uncertaintie5 exist and that the charitable cornpany Is therefore a golng concern. ¢) IrK(xne Income Is recognised when the charity has any entitlement to the funds, any rformae condltions attaCd to the hems of income have been met. it Is probable the income will be receTved and the amount can be measured reliabty. IoMe from government and other grants. wher -capitsf grants or "revenue" grants. is re(nISed when t chèflty has entitlement to the funds, any pertormance conditlons attached to the grants have been met, tt is probable Ihat the income will be re1ve and the Jmount can be measured rellaY and is not deferred. For legacies. entitlement is the eafller of the dare on whkh either.. the charrty Is aware that probate has been granted, the estate ha5 been firsali5ed arbd notification ha5 been made by the execLrtorl51 to charity that a distribution will be Made, or a distribution is received from the estate. Receipt of a legacy, in whole Of in pao is only considered probable when the amount can be measured rellably and the charity has been noiified of the exe¢uiorfs inientlon io make a distribution. Where legacies have been notified to the charity. or the charity is aware of the granting of probate. and the criteria for IKome r¢co8nStk>n have rKJt been met. then the legacy ts trèated as a contln8ent asset and dlsclosed W material. Ir<ome ¢eNed in advance of any care servKes wowded is deferred untll the criterla lor income reco8nitbn are mei Isee note 131. Donated facilities and donated professional sérvices are iecognised in income at their fair value when their economic benefrt 15 probable. rft can be rneasud reliabty and ttE charity has control over t Ttem. Fair value is determined on the basis of the value of the gift to the chariry. for example the arnount the charity would be willirg to pay in the open market for such facllltbÈs and sèrvltts. A corrèspondSn8 amount Is rècognised In expendlturÈ. 17
CA5TEL FROMA NEURO CARE UMITED (• ccfftp•ny Ilmlted by Dw•nteel NOTES TO THE FIP4AIICIAL sfATEMEfiTS Icontwxd) FOR THE YEAR ENDED 31 MARCH 2025 Principal ac(rt¥ poli$ IconQwx No amount 15 included in the financial statements Icy volunteer time in line wrth the SORP. Further deLiil 15 given in the Trustees. Annual Report. Whère practlcable. gtfts In klnd donated for dlstrlixrtlon to the beneflclaries of the charity are Included In stock and donations in the financial statements upon receipt. If it is impracticable to asse5S the fair value at receipt or if the costs to undertake such a valuatlon OUtwh any benef. then the fair value is recognised as a component of donatlons when kt is distributed and an equryalent amount reco8nised as charttèble expenditu. ITrtere on funds held on dekM)Sit is included when elIable and the amount can be measured relia¥ by chèiity,. this Is normal upon notlfkatlon of the Interest pakl or payable by the bank. I¢¢ from Investment property Is •¢c¢unted for M a Siral8hi41ne basls over ihe period ol the lease. d) Fund General funds are unrestricted funds which are available for use ai the discretion of the irustees in furtherance of the general Objerti of the charity and whKh have not been designated for ottv PUfP05es. DeSnated lunds comprise unlestrle0 fuThgs that have been set asKle the trustees for partlcular purposes. The alm artd use of each desi£nated fund Is set out In the rntes to the financial statements where appllcable. Restricted funds a funds whlch are io be used in accordance wrth specifk restrictions impJsed by donors or whkh have been raised by the charity for particullir purposes. The cost of raising and administering Such funds are charged against the spetlfit fund. The alm artd use of &3th restritted fund ks sa out In the rte$ to the finantlal statements. el Exwndltyre recrynlll¢)n ar¥1 kreco¥erable VAT AJI expendbture Is aCcted for on an accruals basls arrtl has been classlfd under headines thai aPAre8ate all costs related to the cate80ry. Expendrture is recoBnised where there is a le8al or constructive oblatIon to make payments to a third party, it is probable that the settlement will be required and the amount of ihe obligation can be measured reliably. It Is cate8orlsed under the followin8 headln85= Cosrs of raisine funds comprlse property managemeni lees and Pfoperty related interest and costs,. and staff ènd professional fee5 4550ciated wrth rai5in8 fund5. Éxpenditure on chariiable 3cti¥rtTres includes the costs associated wrih ihe provision of care and ccornmodation lor 5everefy physically disabled people and other actNrties undertaken to further the purposes of the charity and their associated support tosts. Irrecoverable VAT Is charyed as J cost aylnst t actl¥lty for ¥thth the expendllure was rred. Support costs are those functions thal assist the work of the charity but do not directly Tepreseni charitable activities and include offKe c05t5, finance. personnel, payroll and governance costs. Where support Costs cannot be direct attrSbuttd to particular heèdln8S. thty have been allcltèted to thè tost of raisin8 lunds and txptndlturt on tharltablt activities. Costs are albcated to arti¥fties based on a relevant indicator for use of resources le.8. Staff allocated by activity.. floor area of lIdIn& equipment alted by actb¥ityl. The bases on which suprK>rt costs have been allated are set out in note 9.
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 Pri11 acc(ntin& poliw Icortirnd> gl Leases Rentals payable tsnderoperatlng leases are charged to the SOFA on a strai8ht-Ilne basls over the perlod of the lease. h) Tarylble Ilx•d ass•ts Indi¥i(hJal filed assets Costing £1.(Or more are caprtalised at cosL Tangible fixed èssets are stated at cost lor deemed costl or valuation less accumuloted deprLYiation and accumulated Impairment losses. Cost includes tosis directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible red 35sets, at rate5 calculated to write off the c( less estimared residual value. ol each asset on a 5V5tematic basis over its expected useful life as lollows.. Freehold land and bJildi Motor vehicles Flxiures. flttln8s and etyipment 0% pa. 25% p.a. reducing ba 15%. p.a.. 20% pa. ènd 33.3% p.a. straht11 Freehold land and buildings are not depreciated as the charity maintain5 the properties to a high standard and their residu31 values are regularty measwed on the basis of fair value and rnsta1tMenl cost as a means to assess their carrying values In the financial statements. This infom15 an annual impairment review. which is undertaken to establtsh the recoverable value of all properries. Assets not meawred at falr value are revkwed for any indkatlon that the asset may be Impalred at each balance sheet date. If such indTrcation exists. the recoverable amount of the asset, or the asset's cash generatin8 unit. is eImated and compared to the carrying amount. Where the carrying amount exceeds its reco¥erable amount. an impahrmen( loss is recognised in the SOFA. od( and ¥5sets hekl Ivr re5• Stock is valued at the lower of cost and nei realisable value after making due allowance for obsolete and slowvJlKTrIiI¥ ems. Cost Includes all Costs ot purchase and other costs incurred in brlnglng stock to its present locatlon and conditlon. Property held for resale is shown within stock at a current market value which is expected to be realised. DebtoTh and (reditor5 rerei¥ablelp•y•* within Debtor5 and creditors With no stated interest rate and recer¥able or payable within one year are recorded at transartK)n prl¢e. Any losses arisin8 Irom Impalrment are fecognised In expenditure. k) Flnartlal Insvurn•rts Loans aThJ b)rrowirhgs are initialty recoeni5ed at the transactK>n Includi transattion costs. Subsequently. they are measured •t amortised cost using the effertrye inierest raie mdhod. Impairmeni. If an arrangemeni consiitutes finance transaction it Is ITiea5ured at the wesent value of the future PaentS di5COUDted at a market rate ol interest for a slmblar debt Instrument.
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 Prlncal accountlry pollcles l<rMrtSnu•d) Employ•• b•n•fits When ernployees have rendered Service to the charity, short-term ernployee benefrts to which the emp5 are entitled are reco8nlsed ai ihe undlscounled aMLnt expected io be paid in exchange lor that seryice. The charlty operates a defined ttntributb)n penskni plan for the benefrt of its èmployees. Q)ntrflxrtlons are expènsed as they become payable. ml Tax The charity ts considered to pass the tests set out in ParaEraph I Schedule 6 Finance Art 2010 and therefore it meets the definition of a charrtabbe company fof UK corporaln tax purp)ses. As such. it does not have liability lo corporation tax in the course ol rts nomial chèritable artivitTres. n) Cornp•ny status •Thd yn¢r•l infwmim The charity 15 a prrvate company incoryK)rnted in En8Uind arKI Wales and is limited by 8uarnntee, wtth no share capital. The members of the company include the trustees_ In the event of the charity bein8 wound up, the liability in respect of the iuaranlee is limited to £10 per rnember of the charity. The address of the re8lStered office and registered numbers of the company and charity are shown in the charity information on page 2 of these financial statement5. o) Crltlc•l •cctyJntlni estlm•tes and drnNts To be able to prepare financlal Statements In accordance wlth FRS 102, the charlty must make certaSn estimates and jud8ementS that have an impact on the w)IKies and the amount reported in the annual fina101 Statents. The estimates and judgements are based on historKal experiences and other factors includine expectations of future events that are believed to be reasonable at the time such estim•tes arKI jud8ements are made. The trustees do Tr)t Consider any of the estimates or iud8ement5 applied to be sn[trant to the financial statement Iorne from donations and legac5 wa5 £93.88912024.- £371,945) of which £79.85012024- £27.8531 wa5 attributable lo restrltted funds and £14.03912024: £344.0921 was attrSlxrtable to unrestrlrted funds. Inwme from charitable actiyilies was £9,222.83612024: £8.424.4431 alj of whKh wa5 attribable to unrestricted funds and related to the w(Ni5ion of care seThices. Intsstm•Trt inGwn• Rental income and incorne un(kn operatiry leases Inrere5taj dmdend irKome 19.ul 12228 150,712 7.354 31.618 IS8,6 All investrrnt income in current and Pfl)rlS was otth.butab to unre5triCted fvnds.
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 Experxlilurn on rni5iry fund5 2024 Professbnal fees foi direct ltsndraisiwd Costs Professh?nal fees for invesrirq rit Pffjperty management fees and paIrS 18.783 23,479 15.529 9.050 47,745 Bank k)an irrte 18,783 96.511 Of the expenditure on raisin8 fund5 above. only E18,78312Q24.. £23,479) related dirertly to donation5 and le8ary income in the finantral statements. Other expenditure 15 a5clated with professnal and property management fees in respect of fixed asset investments and investment property- and the cost of servicin8 the secured loans. which were fully discharged in 2024. All expenditure on raisinglunds in the current and pnor year was attributable to unrestritted lunds. 24 Wa8e5 and la ial security costs Pensions 6,9588 f7,127 133212 6.272,885 512.238 114,699 7.699.144 6,899.822 Wagesand salaries include agency and bought in staftcosts totallin8 £358.96312024.. £462,666). The trustees neither feceived nor waNed any remuneration durin8the year12024: £NIll. No trustee was leimrSed expensés durin8 the current or priof year. The nurnbef ol staff whose eMolunts lell wlthln the to1¥4 bands was as folkJws-_ £60.C(11 to £70,OCMJ £70.(K)110 £80.0 £80.(K)I to £.c £90,COI io £lC(I,( £I10,j1 to £120,¢X £120.IM)I to E130.C No. Eight 12024. Pknl employee5 earning over £60.(MJ) were accruing retirement benefits under a defined contr11tIon scheme. In the year. ernpk)r contr11tiOnS of £18.12712024.' £15,0101 wefe made In respect of these ernployee5. 21
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 Staff <osts, trustee rerwneratmjn and •xp•ns•s and the cost ol It•y management personnel Intinued) The average monthly headcount was 217 staff12024.. 206 staff) and the average monthly number of lull.Ilrne equivalent employees {includin8 part time stafn durin8 the year was: 1025 Mana8ement Administration Nursing Ancillary ca Therapy Housekeepin8 SErvKe5 33 32 96 24 14 25 13 195 181 The key mana8ement of tlkb charr(y comprise tIE Trustees. the Chief Executive and nominated individual. the Deputy Chief Executpe and the Clinical Managers. The total employee benefrts of the key management persomel of the charrty were as follows: 2025 2024 Key mana8emeni employee berfrts 460.637 417.741 Other ralThs and I Oiher yins and losses Include realbsed losses of £nll12024= £1.24n In resped of ItSted investments. Addltbonally. a rea¥sed loss of £nll 12024: É41.4991 has been retotnised on the tharrtable company's investment property. Net exnditure 2025 2024 Net lexpenditurell income is ststed after chargiryj Icreditin8):. Other operatin8 leases and equiprnent Iwe OeprecIatft- owned assets Proflt on disposal of fixed assets Income from operating kase arraryements Auditors. remuneration 26,166 27.018 212.706 112.OCI)I 258.541 1126,9381 15,(XXI 15.OLX) Interest payable 2025 2024 Bank loan Intewe5t 47,745
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwK*d) FOR THE YEAR ENDED 31 MARCH 2025 9 Anafysls of on tharltable acll¥lt ofc centrn5 Therapbps Totsl 1025 Total 2024 Staff Rent & raies '8ht. heat & ptr pplie5 ImedKal. catering & dean1) Repairs & maintenance Training Subscriptions Motor & t[l11n£ tr InsLbrance Bank ¢har8es & interest Deprecialion Gera1 expenses 5,575.391 33.4 233.398 524.145 226.486 31.631 76,705 15.794 104.734 934,973 6.510,364 38.494 268.274 602.465 260.329 36.357 88,167 18,154 120.384 5,711.042 36.930 272.486 611.775 255.9)7 23,247 71,877 11,531 122,333 16,321 258,541 118.874 7,510.864 34.876 78.320 33.843 4,726 11,462 2.360 15.650 191,435 149,824 7.163.413 21.271 21,917 1.164.402 212.706 171.741 8,327,815 Operation ol Carg ntres Allocation of sUPPOrt and lorna costs to artl¥ltbes Totsl 2025 Total 2024 WaEe5 and salaries & related costs lallocaied on General (pro rata to staff full time eqtsivalent) Legal and orhef profeswnal fees pwrt Costs Governance costs (allated on time 'rect costs 1,(62,602 1,062.602 1,070,764 162.919 162.919 163.810 164 164 1,389,830 233.498 1.389,830 233,498 1,388,156 223,456 8,327,815 7,510,864 Totsl cost5 relatini to the operation of the care centres Gortrnance costs compflse the followlre:" 2025 Staff costs Le8al and professional f5 126,178 107.320 118,016 105.440 Eypendtfure on charitable activitTres was E9,951.143 12024= £9.122,4761 of which £19.233 12024.. £20,265) was attributable io restricted funds and £9.93131012024- £9.102.2111 was atlribuiable to unrestricted funds.
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwK*d) FOR THE YEAR ENDED 31 MARCH 2025 FbrtUrn5 fittin85 & Veh•des ewipmert nd& tA•iklir Total Cost orvaluadc At l April 2024 Additions Disposals TTrnsfer 8.1.026 216,844 8.110 4.758.479 323.556 13.717,621 540.4 158.9881 12,388,IXKII 158.9881 12.388.1)Jll At 31 March 2025 6.629,870 99,128 5,082,035 I111,033 Ai i April 2024 510.420 141.416 2.855 152,385) 4,169.709 209851 4.821545 212,7 152.3851 Oi5pcwIs At 31 March 2025 510.420 91,886 4,379.5fAI 4.981,866 At 31 March 2025 6.119.450 7.242 702.475 6.829.167 Al 31 March 2024 8.M),fA 16.7CK) 588,770 8.8W),076 Freehold land and l)uildin85 comprise the Sites at Lllhryton Road ILillin8ton House) whTch. followtnB a transfer of part of the srte lo stock, has a remainln8 carrying Value of £1,889.535,. and at 8ericote Lane (Helen Ley Housel wllh a carrylng value of £4.229.915. Lilliiwon House was valued towards the end of 2024 by Wareing & Compary. with the whole slte being assessed as ha¥in8 a realtsable vahje of E4.5W,LW. in excess of its yevious carrwn8 value. The transfer of £2.388,1K)D to current assets in note 11 represents the arnount5 for whKh the charity has offers peTrdi and subj'ect to completK)n. folbwi Ihe Marketi of these elements for resak. Helen Ley House was last formally valued In the year to 31 March 2021 by Wareing & Company and with subsequent extension work sIe then. is Set for a reassessment of its valuation in the year to 31 March 2026. freehold land and 1ling$ had not been revalued. Ihey Ivould have been wKluded at a hi5torKal cost of £3.557.079. Stock and assels hekl for res 2024 Domestic supph.es and consumables FreelK)Id property held for resale 47.068 2,388,Cxl0 2.435.068 39.195 39.195 Debtors 2025 2024 Trade debtors Prepayments and a¢cnEd I1rne 129.037 330,150 459. 187 281.486 427,783 709.269 24
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 13 Cveditots: am(wnts falliw the within one 2025 2024 Trade creditor5 Accruals and deferred irKome Other taxJtion and social secur Otr credlfNS 466,844 128,454 125,fA19 2.062 722,969 540.546 140.366 134,153 5.617 820.682 Included In accruals deferred income Is fee Incon relatln8 to later per)ds totallin8 £60.42512024.. £32,331). Amounts of £32,331 were released from the previous acc(yJntlng period. 14 op•r•t1 le•s• commltm•nEs At 31 Math 2025 the charrty had minimum lease paynnts under noTr<ancellable operatin8 leases as folbws.. 2025 2024 Expiry dats. Wrth*) I year 8etween l and S ar5 Over 5 yea 25.136 87.428 23,926 9),720 11,1 112.564 125.806 An amount of £15,31212024'. £13.9841 15 held in tWQ secure bank accounts on teholf of residents. All accounting records for transactions made on behalf of residents are segregated from the records of the charltable compary. The chailtable tompany owrates a defined contributfi peThSn scheme In respect of ihÈ staff. The scheme and its a$5ets are held independenl rnanagers. The pension charge represent5 contributior)s due from the charitable company and amounted to £133.21212024= £114.6991. Included within creditors is an amount due to stheme provlders totalllng £26.97612024.- £27.C(191.
CASTEI FROMA NEURO CARE UMITED qa ¢(ffip•ry Ilmlted Diarantsel NOTES TO THE FINA14CIAL STATEMEIIT5 (contwKd) FOR THE YEAR ENDED 31 MARCH 2025 17 Funds At31 M•rth 2025 2024 and ab k)sses General 1.339.473 9.299.461 19.756.722) {9.756.7221 1.939.203 2.821,415 Total General reser¥e 1.339.473 9,299,461 1.939.203 2.821.415 Fixed asset fund Unrestrlrted funds 4.629.784 5,969,257 {193.9711 9.950.693) 2.383,797 4.323.OCKI 6,819.610 9,641.025 9.299.461 Restricted revenue funds Nurses. social comrntttee fund Lounge refurbishments Soltsvare fund Leisure and sPOrtin8 activits Other 3.122 3.122 5.1 iio.100} {1531 153 1,794 4.387 9.303 4.882 14.951 1.750 12.2451 112.498) Restricted capitsl fuN New build fund Prolilin8 bed5 73.IX I73.0) 16,292 31,243 16.7351 119.2331 9.557 18.860 79,850 173.OCQI End¢MTment lund IRMCHDI Total fvnds 4.2s0.l> 10.250.5(K) 14.250.CiX)I 9.379.311 19.%9.9261 9.659.885 The general reseNe represents the free funds of the charlty whlch are not deslgnated for partkular purFM)ses. Des¥nated unrestrKted fund5 include reserves invested in fixed a55et5 and land and prop2rty assets. The eThlowment fund was held by Royal Midland Counties Home for the D&)bbed comprised a permanent eThdowment of E4,250,(K). being the 51te of the char5 registered addre55 IreprE5ented within freehold land & building5 in note 101. During the year to 31 March 2025. thè charlty t¢)ok appropriate legal a¢fvite and consuiied wlth the Charity Commlssbon. the ups11 of whth was to release IF$e tunds Irom the permanent endowment and enable them to be treated as unwestrirted. Ac¢ordin8ly. a tran51er has been rnade of E4.250.(KM) from the erthwment fuTrd into unrestricted fund5. The restrirted fund5 are those funds which have been used in Kcordance with re5trirtions imposed by donors or fvnd5 which have been raised by the charily for specific purposes=. The nurses. social committee fund represents amounts received from the Mary Hallam estate to be spent by the ommrttees. The software fund represents amounts donated by Royal Midlands Counties Home for the Oi5abled and other donor5 10 install relevant software and purchase the neie55ary SUPPOrt and te5tinu required to brin6 il bnto full operational use. The lelsure and SPOn8 artlvllbes fund represents amounts donated towards addrtbwl lelsuo and SwIn8 a¢tl¥ltlÈs for the benefit ol residents. Other rtstrkted funds Comprlse funds In relatk>n to: peop.$ postcode lottery: Spetthiim tralnlffj The Tent Event,. and The English Project. Where a transfer has been made from restricted to unre5tTicted hJrK15, this is to reflect thatthe terms of a restricted capital donatlon have been ontt the asso¢lated fd assets have been ¥quired. The net t¢ok ¥aknts of the a$so¢ted assets are inclu(led in the fixed a$5et desi8nated fund. 26
CASTEL FROMA NEURO CARE UMIIED (• wrnp•ry rimit trrf y•rant¢el IK)TES TO THE F114ANCIAL STATEMEf4T5 (continued FOR THE YEAR ENDED 31 MARCH 2025 18 An•lysL4 ol wets between fvnds T•ft8lbl• ftx•d Net oJrrent Tot•1 Unr•strirt•d funds enenl reserve Desiinated e1ve 2.821.415 2,821.415 6.819,610 6.819.610 Restricted fvnds 9.557 9,303 18.860 6,829, 167 2,830,718 9,659,885 19 Rol•t•d party transactkn Thefe **re no laled party transartk)ns durlre the yeaf {2024'. £NI). 20 Controlllni lrtertst The charlty Is controlled by the trustees. 27