Charity Registration No. 1103520 Company Reglstratlon No. 4993720 (England and Wales) THE BEVERN TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 BUSINESS ADVISORS & AQCOUNTAMTS One Bell Lane Lewes East Sussex BN7 IJU
THE BEVERN TRUST CONTENTS Page Company information Trustees. report Statement of trustees, responsibilities Independent auditor's report 10-13 Statement of financial activities 14-15 Balance sheet 16 Statement of cash flows 17 Notes to the financial statements 18-33
THE BEVERN TRUST COMPANY INFORMATION Truste8S B Adamson P Frost N Houston S S¢hueler P Muni5y J Main Secretary N Houston Patron N Kaplinsky OBE Charity numb8r 1103520 Company number 4993720 Ragistered office Bevern View The Willows Barcombe East Sussex BN8 5FJ Auditor TC Group One Bell Lane Lewes East Sussex BN7 1JU Bankers CAF Bank Ltd PO Box 289 25 Kings Hill Avenue West Malling Kent ME19 4TA
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements forthe year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191" Objectives and activities Our charity's purposes as set out in the company's memorandum of association are.. The relief of persons with learning. physical, mental or other form of disability by the provision of residential homes. holiday facilities and medical care The advancement of education of the persons who reside at Bevern View The promotion of and supporting research into the causes of leaming difficultiesldisabilf(y', their needs and the support of such people (and the publication of the useful results of the same). The aims of our charity are to support young adults with multiple disabililies and complex needs by the provision of residential, education, health care and therapies. We review our aims, objectives and activities each year and produce a slrategic plan with goals that are used to assess our performance. The process looks at the success of each activity and the benefits they bring to the people we are set up to support. The review also hdps ensure our aims, objectives and activities remain focused on our stated purpose. How our activities deliver public benefit Our main activities and those who we help are described below. All our charitable activities focus on the support of people wilh complex needslprofound disabilities and their families and are undertaken to further our charitable purposes for the public benefit. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding which activities the charity should undertake. Who used and benefited from our services? Our aims focus on services specifically for local people. The rationale for the service is that it should enable young people with complex needs to remain close to their homes and families, so that they continue to be p7rt of their family and local Community with visits to home and relatives able to be closely involved in Bevern Mew. Funding is determined by the provision available from local authorities and Continuing Healthcare, who have a responsibility to assess needs and lo allocate resources accordingly. We give pnority to adults from the local area (within 20 miles), who qualify for funding for residential placements, based on an assessment of their needs. This ensures that access to Ihe service is therefore not determined by the income of families_ Equal access to our services is an important issue for us. We have developed a structured approach for determining priorities for offering places when they become available. This is based on the level of need and cunpatibility with other residents in the home. We are aware that demand for places always exceeds our capacity to supply a service but we are committed to retain a homely environment in which each individual knows they are of immeasurable worth. The trust continues to access and create continuing education for residents. As provision of contnuing education for people with profound and multiple disabilities has reduced, we have increased our own provision. We employ two specialist activity staff who develop education, activities and communications support for on-site delivery. We also have a dedicated healthcare team, who work alongside the support staff, ensuring that our residents, and those looking after them, are kept safe, kept informed and enabled to lead full and rewarding lives.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trust continues to offer specialist hydrotherapy for residents in its own purpose-built pool. We also offer the use of the hydrotherapy pool to support other people in the local community. Funding for social care remains a national and local issue, but we have continued to obtain significant funding packages for our residents, to ensure the high quality of our care and support. The Vision It is our vision to be an inclusive and equal society, where people are released from expectations others have about disability. We want to enable people with profound disabilities to lead full and rewarding lives as part of their family and community. Our values are". Commitment (love) Care (care) We offer a home for life for our residents and offer support for their families We ensure our residents receive high quality care and support which is person- centred, reflecting their needs and wishes. We uphold our residents. dignity, privacy, and human rights. We support our residents to maximise their choice, control, and independence We are committed to operating as a community and committed to being a responsible part of the local communities around us. Choice (freedom) Community The Bevern Trust has a strong commitment to building relationships with other disability charities and sharing expertise wherever possible. It is our vision to be able to one day support more local families who have an adult with a disability who needs a home or a place to go, an activty to be part of or simply a community with which they can engage. Achievements and perforniance 1. Digital Transformation & Systems Improvement Identified the need to upgrade our medication management system to ensure better integration with care planning and improve usability- Next step.. Implement a more user-friendly and compatible medication system in 2025r26. As part of this transition, we have also recognised the need to partner with a pharmacy provider that is better equipped to operate within a modem digital infrastructure. Aim.. Seamless integration wilh our upgraded systems to ensure safe, efficient, and transparent medication n7anagement. Successfully applied for £1,800 funding from the DSCR team to support the successful implementation of a new digital care planning system (Nourish). Objective.. Enhance Iransparency. improve care understanding, and ensu people feel infom7ed and supported in their care and advocacy. 2. Workforce Development & Training Record uptake from staff on the Level 3 Diploma in Lead Adult Care. stngthened partnership with an accredited training provider, delivering monthly bespoke in-house workshops. One staff member completed the Level 5 Leader in Adult ca qualification, with another enrolled and a third anticipated next year. A key addition this year was the new Communication Coordinator training, delivered to all support staff thanks to funding from No Fear Bridge.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This programme recognised the vital role staff play in fostering a positive and engaging environment and aimed to build confidence in empathic, tailored, and effective communicalion. The training introduced Intensive Interaction techniques, helping staff establish deeper, more meaningful connections with residents particularly those with profound and multiple learning disabilities thereby promoting a more inclusive, understanding, and supportive care culture. We were also able to enrol staff in Care Coordinator training, designed to empower them to plan and deliver meaningful, person-centred activities. This training ensures that each resident's individual preferences and interests are reflected in daily life, reinforcing our commitment to high-quality. personalised care experienS. 3. Health & Wellbeing Support & Systems No Fear Bridge funding, contributed to= Specialist communication training for staff.. equipping them with tools to understand non-verbal communication, increase engagement, and support person-centred care. Ongoing weekly music therapy sessions for residents, led by a trained Iherapist. offering emotional expressiori, connection, and sensory stimulation. Positive outcomes.. Increased staff confidence and improved resident rappart. Families have also expressed appreciation for the lasting impact on wellbeing. We are deeply grateful to No Fear Bridge for enabling this vital and meaningfvl work. A significant health outcome this year was achieved by our specialist clinical team. whose work in prevenlalive care has led to measurable improvements for one of our residents with complex respiratory needs. Through the introduction of proactive health protocols including chest management. postural drainage, chest physiotherapy, and wider staff training this individual. who previously required annual respiratory clinic reviews, has now been told they will not need another review for three years. This remarkable outcome demonstrates not only the clinical skill of our team but also the effectiveness of embedding preventative practices across the whole support staff group, enabling earlier identification and intervention before health issues become acute. In addition, we have had a year free from formal complaints or concems, reflecting the consistent quality of care, strong communication, and deep trust between our staff, residents, and families. 4. Sustainability & Environmental Commitmenl Achieved full replacement of communal lighting wrth energy-efficient altematives. Collaborated with a local community energy organisation to explore opportunities to reduce energy demand and support local decarbonisation efforts_ 5. Fundraising & CapFtal Appeal Launched a targeted capital fundraising campaign (Space to Thrive) following consultalion with Trustees, families, and staff. As the needs of residents and their families change over the coming years this will enable.. Expanded activity space often-busy lounge area. A staff room - to support staff wellbeing and redu¢e bumout by providing a dedicated rest area. Additional office space - to meet growing demands in care administration, documentation, and coordination. The impact of these spaces is expected to benefit both residents and the wider community, including families and weekend therapy users. The soft launch of the Space to Thrive appeal received a remarkable boost with a generous £10,000 donation from a local supporter- an inspiring show of communrty confidence that gave our campaign vital early momentum. Building on this strong start, we went on to secure £24,000 in grant funding from various trusts and foundations later in the year. allowing quieter. dedicated, person-centred activities beyond the
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We officially unveiled the Space to Thrive Appeal at our 2025 Annual Dinner & Auction, brilliantly hosted by our patron Natasha Kaplinsky. The event raised a remarkable £28,260, offering a major boost to the appeal and showcasing the powerful support of our community and stakeholders. These early successes have not only validated the importance of the project but have also energised our wider fundraising strategy as we move fOard with ¢onfiden¢e taking US to over 500A of our £668,000 target within the first phase of the ¢ampaign. Financial review Care Home Operation At the end of the financial year, The Bevem Trust had funding for eleven full time residents on a spot contract basis. In the year 2024125, this amounted to.. £2,025,500 (2023124-. £1,932,243}. Over the year total donations, fund raising and gifts for the trust came to £134,722 (2023124.. £145,051). In 2024125, the trust recorded an operating surplus on its general fund of £89,930 (2023124: £73,840). Net transfers in from other funds amounted to £73,295 (2023124- {£55,122)), due to net transfers in from designated funds of £31,735 {2023124'. £66,922} and £41,560 {2023124'. £11,800) in from restricted funds. The total increase on the general fund for the year was £163,225 (2023124.. increase of £18,718). Transfers in to the general fund from the restricted funds included £41,560 from the Restricted Gift fvnd and £31,735 from the designated fund, totalling £73,295 Res8rves policy The Trustees have set a policy for holding unrestricted liquid reserves of £203,000. These reserves are required by the trust to provide-. Working capital to finan the day to day activities of running a Care Home., currently assessed as £110,000 An income cushion to meet the funding gap that occurs with a change of resident., cUentlY assessgj as £62,000 A cushion to provide necessary healthcare to residents in the event of insufficient fijnding currently assessed as £31,000 At the end of the financial year, total unrestricted liquid reserves stood at £691,212. £390,655 of that figure had been designated to the following funds- Building Project fund.. £277,442 Asset Replacement fund". £44,058 Storage Project fund.. £57.404 Maintenance fund.. £11,751 The remaining unrestricted liquid reseeS of £300,557 are held in line with the Trust's Reserves Policy of £203,000. Trust pollcles and rl$k management Extensive risk assessments are carried out for all activities undertaken by the residents of the Trust. Frequent internal audits as part of the work of the Nominated Individual confirm that all Trust policies are in place as required by the legislation. They show that we are meeting all required standards. The Trust is committed to maintaining this high standard in future assessments by CQC and contracting bodies. This is confirmed by the outcomes of surveys of parents and staff satisfaction.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risks The principal risks and uncertainties facing the charity are= The death or deterioration in health of a resident, the latter leading lo a very significant change in needs in terms of clinical risks and medical support needed- The withdrawal of statutory funding.. The gap between our statutory funding and day to day costs, with the erosion of fee values in real terms, due to the reductiors in spending on social care by Local Authorities and the NHS., The loss of key. long serving senior staff, wilhoul a sufficient succession plan., Insufficient Trustees andlor insuffi'cient requisite skills amongst the Trustees- Challenges in recruiting staff. mainly due to the low wage levels in social care and our rurality Location of Bevern view and the lack of public transport-, Insufficient reserves to meet the loss of fee income or other unexpected financial hardship-, Maintaining management and staff capability in a pressured social and economic climate- Increased regulations that negatively impact the operating costs of the business e g_ GDPR,. The current political and economic instability, impacting inflation and the cost of living. Mitigations Bereavement policy in place, to ensure that no room stays vacant for any longer than necessary- Up to date register kept of potential new residents., Maintain good working relationships with funding authorities, challenging fees where appropriate.. Ending of all iespite provision for the foreseeable future. This has led to a more stable and secure income stream. Whilst Ihe Trustees continue to be committed to offering respite care, it is nol currently feasible- Demand for residential places outstrips supply_ We are in regular communication with commissioning organisalions and view this as low risk at the present time- Cover plans (short and long term) defined for key staff roles-, Proactive recruitment of new Trustees, on the basis of skills needed and commttment to the mission. Combinalion of in-house, qualified HR management alongside external HR expert contract. Regularly reviewed and improved variety of measures to retain and motivate our staff and to increase their wellbeing, including regLtlar supervisions and providing cooked meals. We have a wellbeing programme with provision for physical and mental health support. Robust cost controls and investigation into possible sources of sustainable energy. Operational planning Looking ahead, our priorities for 2025-26 are= Implementation of a new medication management system; Research and implementation of a more robust and intLtitive finance system to support better financial oversight and efficiency., Implementation of new finance pa¢kage- Continuation of music therapy sessions., Further tailored staff training and development in communication-, Progressing and planning in the Space to Thrive building work., Schedule to update all individual needs assessments and fee negotiations., Recogni5ing that the needs of our residents are changing as they are getting older and ensuring that care plans and activities are reviewed and adjusted to reflect these changing needs and interests., Preparing for end of life care and support for our residents and their families.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Structure, gov8rnance and management The Bevem Trust is a Christian charity and a charitable company govemed by its Memorandum and Articles of Association. The charitable company was incorporated on 12 December 2003 and registered with the Charity Commission on 29 April 2004. It commenced activities on 1 October 2004 after the transfer of assets and liabilities from the Agape Trust. The trustees, who are also the directors for the purpose of company law, and who served during the year were.. B Adamson S Brentnall P Frost N Houston S Schueler P Mundy J Main (Resigned 30 May 2025) The board has power to appoint additional trustees. No director held any beneficial interest in the charitable company. The member of staff charged with day-to-day management was the Nominated Individual and Registered Manager. Mrs Ashly Sarsons. Trustse appoinlrnent A trustee's term of appointment is 3 years. There is no limit on the number of tenns a trustee may serve. In accordance with company law therefore. approximately one third of the board retires by rotation and is eligible for re-election each year. When a trustee resigns, or when the Board identifies the need for additional skills or knowledge amongst its members, appropriate candidates are recruited for. Vacancies are advertised through relevant channels, the precise choice of which is detemiined by the skills and experience being recruited for. The process for recruitment of a new trustee includes an initial informal conversation, a short interview with the Chair, a visit to Bevern View with another trustee and finally attendance at a board meeting. After each step the applicant and the trust decide whether to continue to the next step or not. on appointed, a new twstee then visits Bevern Wiew for half a day for general induction with the Registered Manager, residents and wider team. Management structure The strategic management team meets every six weeks and includes the Nominated Individual, Registered Manager, Operations Manager, Finance Manager and a trustee. There is also a regular service Governance meeting {not a SucoMmittee of the board) which continually refreshes and delivers an improvement plan, focusing on quality and safety. A service users (Of relatives) forum also meets regularly, attended by the Nominated Individual. All major matters, identified in the terms of reference of the management meetings are referred to the full board either through a management report or the Nominated Individual report. Key management personnel pay Key management personnel pay at the Bevem Trust is set relatively low in comparison to the commercial sector. The trust uses local charity pay as a guidelines and pay is reviewed yearly. Executive pay is significantly below reportable levels. Audltor In a¢¢ordance wth the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Disclosure of infomiation to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit. but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 41 SA of the Companies Act 2006. The trustees, report was approved by the Board of Trustees. N Houston Chairman ?Ip HL 20ZS Date..
THE BEVERN TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors of The Bevern Trust for the purpose of company law, are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable company for that year. In preparing these financial statements, the trustees are required to.. select suitsble accounting policies and then apply them consistently., - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company wll Gontinue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable ac¢ura¢y at any time the financial position of the charitsble company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEVERN TRUST Opinion We have audited the financial statements of The Bevern Trust (the 'charitable company,) for the year ended 31 March 2025 which comprise the statement offinancial activities, the balance sheet, the statement of cash flows and notes to the financial slatements, including significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the ¢haritable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the reqLFirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit ol the financial statements section 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'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS {UK) require us to report to you where.. the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate., or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounb'ng for a period of at least twelve months from the dale when the financial statements are authorised for issue. Other infomiation The other information Gomprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Irustees are responsible for the other information contained wthin the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our fesponsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we idenlify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misststement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 10-
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE BEVERN TRUST Matter5 on which we are required to report by exception In the light of the knoedge and understanding of the charitable company and its environment oblaned in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and retums; or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in a¢¢ordance with the small companies regime and take advantage of the small companies, exemptions in Pfeparing the trustees, report and from the requirement to prepare a strategi¢ report. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the direGtors of the charitable company for the purpose of company law, are responsible for the preparation of the finan¢ial ststements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detem)ine is necessary to enable the preparation of financial 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, disclosing, as applicable, matters related to going Concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the flnancial ststèments Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit Conducted in accordance with ISAS (UK) will always detect a material misstatement vthen it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be exFECted to influence the economic decisions of users tsken on the basis of these financial statements. Irregularities, including fraud, are instances of nonucompliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Extent to which the audlt was consldered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud. are.. to identify and assess the risks of material misstatement of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses.. and to respond appropriately to fraud or suspe¢ted fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. 11
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE BEVERN TRUST Our approach was as follows.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management las required by auditing slandards), and discussed with the direilors and other management the policies and procedures regarding compliance with laws and regulations., We identified the following areas as those most likely to have such an effect.. health and safety,. General Data Protection Regulation {GDPRI,' fraud,. bribery and corruption and employment law. Audiling StanddS limit the required audit procedures to identify non-compliance wilh these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondenGe, if any. We considered the legal and regulatory frameworks dIreCY applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK., We considered the nature of the company's operations. the control environment and business performance, including the key drivers for management's remuneration" We communicated identified laws and regulations throughout our team and remained aleri to any indicats'ons of non-compliance throughout the audit- We considered the procedures and controls that the group has established to address risks identified, or that otherwise prevent. deter and detect fraud., and how senior management monitors those programmes and controls. Based on this understanding we designed our audit procedures to idenb-fy norFcompliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included.. testing manual journals., reviewing the financial statement disclosures and testing to supporting documentation. performing analytical procedures," and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatemenls in the financial statements, even though we have properfy planned and performed our audit in accordance with auditing standards. For example. the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional Coealmenl, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannol be expected to detect non-compliance with all laws and regtjlations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at= htt s'.Ilw This description forms part of our auditor's report 12
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE BEVERN TRUST Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chaoer 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ) C GTh•t David Martin FCA (Senlor Statutory Auditor) for and on behalf of TC Group Statutory Audltor Office: Lewes 13-
THE BEVERN TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestricted Unrestricted funds funds general designated 2025 2025 Restricted funds Total Total 2025 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 37,926 2,025,500 28,690 5,421 23,664 73,132 134,722 2,025,500 28,690 5,421 145,051 1,932,243 28.475 4,620 Total income 2,097,537 23,664 73,132 2.194.333 2,110,389 Expenditure on: Raising funds Charitable activities Other expenditure 30,647 1,973,894 (1,396) 30,647 1,989.294 (1.396) 41,209 1,970.085 41,434 15,400 11 Totsl expenditure 2,003,145 15,400 2,018,545 2,052,728 Net gainslllosses) on nveslments 12 (4.462) {4,462) 24,619 Net income 89,930 23,664 57,732 171,326 82,280 Transfers between funds 73,295 (31,735) (41,560) Net movement in funds 163.225 (8,071) 16,172 171.326 82,280 Reconciliation of funds- Fund balances at 1 April 2024 1,464,205 398,726 44.579 1.907,510 1,825.230 Fund balances at 31 March 2025 1,627,430 390,655 60,751 2,078,836 1,907,510 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 14-
THE BEVERN TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestricted Unrestrictod funds funds general designatèd 2024 2024 Restrlcted funds Total 2024 2024 Notss Income and endowments from: Donations and legacies Charitable activities Investments Other income 70,092 1,932,243 28,475 4,620 74,959 145.051 1.932.243 28,475 4,620 Total income 2,035,430 74,959 2,110,389 Expenditure on: Raising funds Charitable activities Other expenditure 41,209 1,903,566 41,434 41,209 1,970,085 41,434 44,409 22,110 11 Total expenditure 1,986,209 44,409 22,110 2,052,728 Net gainsl(losses) on investments 12 24,619 24,619 Net incomellexpenditure) 73.840 {44,409) 52.849 82,280 Transfers between funds {55,122) 66,922 (11,800) Net movement in funds 18,718 22,513 41.049 82,280 Reconciliation of funds: Fund balances at 1 April 2023 1,445,487 376,213 3.530 1,825.230 Fund balances at 31 March 2024 1,464,205 398,726 44,579 1,907,510 15-
THE BEVERN TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Intangible assets Tangible assets Investments 14 15 16 10,335 1,710,138 220,160 1.681,139 224,622 1,940,633 1.905,761 Current assets Debtors Cash at bank and in hand 17 92,668 801.342 95,208 763,912 894.010 859,120 Creditors: amounts falling due within one year 19 (142,047) (219,956) Net current assets 751,963 639,164 Total assets less current liabilities 2.692,596 2,544,925 Creditors: amounts falling due after more than one year 20 {613,760) {637.415} Net assets 2,078,836 1,907,510 The funds of the charitable company Reslricted income fvnds Unrestricted funds- general Unrestricted funds - designated 24 60,751 1,627,430 390,655 44,579 1,464,205 398,726 23 2,078,836 1,907,510 The financial slatements were approved by the trustees on 2ois •aL C(vL4 N Houston Chairman P/p Company registration number 4993720 (England and Wales) 16-
THE BEVERN TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 28 112,583 115,571 Investing activities Purchase of intangible assets Purchase of tangible fixed assets Proceeds from disposal of tsngible fixed assets Investment income received (11,700) (73,295) {70,671) 1,499 28,690 28,475 Net cash used in Investing activities (54,806) (42.196) Flnanclng activities Repayment of bank loans (20,347) (19,000) Net cash used in financing activities (20,347) {19,000) Net increase in cash and cash equivalents 37,430 54,375 Cash and cash equivalents at beginning of year 763,912 709,537 Cash and Gash equivalents at end of year 801,342 763,912 17-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforniation The Bevern Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Bevern View, The Willows, Barcombe, East Sussex, BN8 5FJ. 1.1 Accounting convention The financial statements have been prepared in accordance with the charitsble company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended PraGtice applicable lo charities preparing their account5 in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102)° (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable fijlure. In arriving at this conclusion, Ihe trustees have considered finances over a period of at least 12 months from the approval of the accounts. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements_ 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes_ The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. 1.4 Incom8 Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be re¢eived. Cash donations are recognised on receipt. other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charitable company has been notified of an Knpending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Grants received are credited to the Statement of Financial Activities when received unless they relate to futL¢re specified period, in which case they are deferred. Fees are Charged for the provision of care provided to the resident clients under contracts arranged with Local Authorities and Primary Care Trusts. Fee income is accounted for when earned. 18
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies IContinu8d} 1.$ Exp8nditur8 Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including allocated govemance Costs. Govemance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategi¢ management ofthe charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resour¢e. Costs relating to a particular activity are allocated directly,. others are apportioned on estimated usage as a proportion of directly attributable expenditure. 1.6 Intanglble fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the faif value of the asset can be measured reliably-, the intangible asset arises from contractual or other legal rights-, and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Website development 5 years straight line 1.7 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost Of valuation, net of depreciation and any impairment losses. Item5 of capital expenditure are capitslised and shown at cost as fixed assets in the balance sheet. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows.. Land and buildings Fixtures, fittings & equipment Motor vehicles Over 65 years 20% Straight line 200/0 Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value ofthe asset, and is recognised in the statement of financial activities. 1.8 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reportin9 date. Changes in fair value are recognised in net incomel{expenditurel for the year. Transaction Costs are expensed as incurred. 19-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies (connUed 1.9 Impairment of fixèd assets At each reporting end date, the charitable company reviews the carrying amounts of its tangible and intangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pr&tax discount rate that reflects current market assessments of the time value of money and the risks specifi¢ to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its &?rrying amount. the carrying amount of the asset is reduced to its recoverable amount. An impainnent loss is recognised immediately in incomel expenditure for the year. unless the relevant asset is carried at a revalued amount, in which case Ihe impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if. and only if, the reasons for Ihe impairEnent Ioss have ceaseij to apply. Where an impairment Ioss SLFbsequently reverses, the carrying amount of the asset is increased to the revised estimale of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount. in which case the reversal of the impairment loss is treated as a revaluation irFcrease. 1.10 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Financial instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 10 211 of its finanGial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions ofthe instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis Of to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipt5 discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. -20-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) Baslc financial liabilities Basic financial liabilities, inclijding Creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recogni5ed inFtially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charitsble company's contractual obligations expire or are discharged or ¢an¢elled. 1.12 Retirement benefits The ¢haritsble Company operates a defined ¢ontributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme. 1.13 Taxation The Trust is a registered charity (number 1103520). All of its activities are exempt from direct taxation. 1.14 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due. 21
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THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable actlvities 2025 2024 Fees received for the care of residents 2,025,500 1,932,243 Income from Investments Unrestricted Unrestrreted funds funds 2025 2024 Intefest receivable 28,690 28,475 Other income Unrestricted Unrestricted funds funds 2025 2024 Other income 5.421 4.620 -23-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Exp8nditure on charitable activities Care of residents 2025 Care of residents 2024 Direct Gosts Staff costs Depreciation and impaimient Therapists Training and sundry staff expenses Recruitment and advertising Food and kitchen supplies Medical supplie5 and materials Laundry, linen and cleaning Educational supplies and outings Travelling expenses Minibus running expenses Light. heat, water and rates Insurance General repairs and mainlenance other charitable expenditure 1,543,284 45.558 20.113 27.594 10,203 31,749 18,223 7,480 35,789 4,474 11,547 47,469 30,878 28,935 3,970 1,532,536 40,158 21,361 21,984 5,292 33,245 21,293 7.661 24,446 3,110 13,813 68,121 29,266 39,555 1,867,266 1,861.841 Share of support and governance costs (see note 71 Support Governance 109,891 12,137 94,679 13,565 1,989,294 1,970,085 Analysis by fund Unrestricted funds general UnrestriGted funds - designated Restricted funds 1,973,894 1,903,566 44,409 22,110 15,400 1.989,294 1.970,085 -24-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvities 2025 2024 Office costs Telephone External HR costs Bank charges Loan interest Software support costs Bad debts Govemance costs 11,786 2,775 4,207 879 54.914 33,217 2.113 12,137 7,184 3,398 4,183 111 56,879 22,924 13,565 122,028 108,244 Analysed between: Care of residents 122,028 108,244 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting)- Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets (Profit)lloss on disposal of tangible fixed assets Amortisation of intangible assets 9,100 44,193 (1,396) 1,365 10,860 40,158 41,434 Trustees None of the trustees {or any persons connected with them) received any emoluments through the payroll from The Bevem Trust during the year. Trustees were reimbursed for expenses totslling £nil (2024 - £nil). 10 Employees The average monthly number of employees during the year was- 2025 Number 2024 Number Charitable activities Management and administration of the charity 65 61 Total 71 67 -25-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employees (Continued) Employment costs 2025 2024 Wages and salaries Social security Costs other pension cosls 1,411.540 95,860 35,884 1,398,711 97,342 36,483 1,543,284 1,532.536 Redundancy and temiination payments totalling £21,983 were made in the reporting period. These payments were made to the employee in lieu of notice and an ex-gratia payment with no amounts remain outstanding at the end of the year. There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel 2025 2024 Aggregate compensation 122,823 143,930 11 Other expenditure Unrestricted Unrestricted funds funds 2025 2024 Net loss on disposal of tangible fixed assets (1.396) 41.434 12 Gains and losses on investments Unrestricted Unrestricted funds funds 2025 2024 Gainsl(losses) arising on.. Revaluation of investments (4,462) 24,619 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitsble purposes. 26-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Intangible fixed assets Wgb$ite development Cost At 1 April 2024 Additions - internally developed 11,700 At 31 March 2025 11,700 Amortisation and impaim)ent At 1 April 2024 Amortisation charged for Ihe year 1,365 At 31 March 2025 1,365 Carrying amount At 31 March 2025 10,335 At 31 March 2024 15 Tangible fixed assets Land and bulldlngs Fixtures, fiWngs & equlpment Motor vehicles Total Cost At 1 April 2024 Additions Disposals 1,935,981 29,982 307.808 77,464 2.321,253 3.482 39,831 73,295 (47.072) {24,978) (72,050) At 31 March 2025 1,965,963 264,218 92,317 2.322,498 Depreciation and Impalrment At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 316,603 20,524 255,847 67,664 17,879 5,790 {46,969) (24,978) 640,114 44,193 (71,947) At 31 March 2025 337,127 226,757 48,476 612,360 Carrylng amount At 31 March 2025 1,628,836 37,461 43,841 1,710,138 At 31 March 2024 1,619,378 51,961 9,800 1,681,139 27-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 16 Fixed asset investments Listed investments Cost or valuation At 1 April 2024 Valuation changes 224,622 {4,462) At 31 March 2025 220,160 Carrying amount At 31 March 2025 220,160 At 31 March 2024 224.622 17 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 1,584 1,463 89,621 3,254 3.968 87,986 92,668 95,208 18 Loans and overdrafts 2025 2024 Bank loans 636,917 657,264 Payable within one yeaf Payable after one year 23,157 613.760 19,849 637,415 The long-term loan is secured by a first fixed legal charge with full title guarantee over the freehold interest in Bevern View dated 2 February 2016 and a first fixed legal charge with full title guarantee over the freehold interest in Brooklands. Interest is charged on the loan at 3.50h over the Bank of England Base Rate. The loan is to be repaid by monthly instalments of interesl only and from July 2020 by monthly instalments of capital and interest as notified by the bank until the final repayment date. 28-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Creditors: amounts falling due wlthln one year 2025 2024 Notes Bank loans Other taxation and social security Deferred income Trade creditors Other creditors A¢¢ruals 18 23,157 26,227 41,374 18,483 9,617 23,189 19,849 20,233 42,395 19,936 47,182 70,361 21 142,047 219,956 20 CreditOTS: amounts falling due after more than one year 2025 2024 Notes Bank loans 18 613,760 637,415 21 Deferred income 2025 2024 Other deferred income 41,374 42,395 Deferred income is included in the financial ststements as follows.. 2025 2024 Deferred income is included within.. Current liabilities 41,374 42,395 Movements in the year.. Deferred in¢ome at 1 April 2024 Released from previous periods Resources deferred in the year 42,395 (42,395) 41,374 44.130 (44,130) 42,395 Deferred income at 31 March 2025 41,374 42,395 Deferred income amounts relate to fees received in advance for April. 22 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 35,884 36,483 -29-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Retirement benefit schemes (Continued) The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Contributions totalling £8,121 12024 £583) were payable to the fund at the year end and are included in creditors. 23 Unrestrfcted funds - designated These are unrestricted funds vthich are material to the charitable company's activities. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Asset Replacement Fund Building Project Fund Maintenance Fund stora9e Project Fund 45,812 283,759 11,751 57,404 (1,754) (29,9811 44,058 277,442 11,751 57,404 23,664 398,726 23,664 (31,7351 390,655 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Brooklands Project Asset Replacement Fund Building Project Fund Maintenance Fund Storage Project Fund 40,060 46,853 200,000 29,300 60,000 {40,060) {1,041) 83,759 {13,200) (2,5961 45,812 283,759 11,751 57,404 (4,349) 376,213 (44,409) 66,922 398,726 Asset Repla¢ement Fund A designated fund has been set up, which will be a sinking fund to replace operating fixed assets to njn the Home. Building Project A designated fund has been set up to fund the new activity space, office and staffroom the Space to Thrive appeal. Maintenance Fund A designated fund has been set up to fvnd various upcoming maintenance requirements for property and vehicles. Storage Project Fund A designated fund has been set up to provide addits'onal storage for the increasing amount of equipment for our residents, as they get older.
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 Mareh 2025 Friends of Bevern View Fund Restricted Gift Fund Minibus fund Building Project Fund 57 2,563 41,959 57 63 2,270 58,361 14,629 142 58,361 (15,400) (1,729) (39,831) 44,579 73,132 {15,400) (41,560) 60,751 Previous year: At 1 April 2023 Incoming rosoufces Resources expended Transfers At 31 March 2024 Friends of Bevern View Fund Restricted Gtft Fund Minibus fund 294 236 3,000 (237) (21,873) 57 2,563 41,959 26,200 48,759 (2,000) (9,800) 3,530 74,959 22,110 (11,800) 44,579 Friends of Bevern Vlew Fund This represents donations and other monies raised by supporters of the Bevem View home. Payments from this fund are made for the benefit and welfare of the Bevern View residents. Restricted Glft Fund This represents financial gifts to cover specific purchaseslcosts. Minibus Fund This represents financial gifts to cover specific costs. Building Project A restricted fund has been set up to fund the new activity space, office and staffroom - the Space to Thrive appeal. 31
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25 Analysis of net assets between funds Unrestrlcted Unrestrictod funds funds general designated 2025 2025 Restricted funds Total 2025 2025 At 31 March 2025: Intsngible fixed assets Tangible assets Investments Current assetsl(liabilities) Long term liabilities 10.335 1,710,138 220,160 300,557 (613,760) 10,335 1,710,138 220,160 751.963 (613,760) 390,655 60,751 1,627,430 390.655 60,751 2,078,836 Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilities) Long term liabilities 1,681,139 224,622 195.859 {637,415) 1,681,139 224,622 639,164 {637,415) 398.726 44,579 1,464,205 398.726 44.579 1,907,510 26 Operating lease commitments Lessee At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2025 2024 Within one year Between and five years 2,026 6,745 2,248 2,026 8,993 27 Related party transactions 32-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27 Related party transa¢tlons (Continued) Transactions with related parties During the year the charitable company entered into the following transactions with related parties.. A number of trustees have family members who are residents at Bevern View. All transactions have taken place on an arm's length commercial basis and trustees had no influence over the use of resources relating to these transactions. 28 Cash generated from operations 2025 2024 Surplus for the year 171,326 82.280 Adjustments for: Investment income recognised in statement of financial activities (Gain)Iloss on disposal of tangible fixed assets Fair value gains and losses on investments Amortisation and impaimient of intangible assets Depreciation and impaiment of tangible fixed assets (28,690) (1,396) 4.462 1,365 44,193 (28.475) 41,434 (24,619) 40,158 Movements in working capital.. Decreasel(increase) in debtors (Decrease)lincrease in creditors (Decrease) in deferred income 2,540 (80,196} (1,021 } {3,509} 10,037 {1,735} Cash generated from operatlons 112,583 115,571 29 Analysls of changes In net funds At 1 Aprll 2024 Cash flowsAt 31 March 2025 Cash at bank and in hand 763,912 37,430 801,342 Loans falling due within one year Loans falling due after more than one year {19,849) (637,415) (3,308} 23,655 (23,157) (613,760) 106,648 57,777 164,425 -33-