Charity registratlon number 1106745 (England and Wales)
Company registratlon number 04941481
CARERS TRUST BUCKS AND MILTON KEYNES
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

CARERS TRUST BUCKS AND MILTON KEYNES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
L Davies
S George
N Jacobs
E Lowndes
M Rowlands
M Willis
J Vseteckova
Secretary
Nicola Jacobs
Charlty number {England and Wales)
1106745
Company number
04941481
Reglst8r8d offlce
Ardenham Court
Oxford Road
Aylesbury
Bucks
UK
HP19 8HT
Auditor
Richardsons
30 Upper High Street
Thame
Oxfordshire
OX9 3EZ

CARERS TRUST BUCKS AND MILTON KEYNES
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent audilo¢s report
statement of finanaal activities
Summ8ry income and expenditure account
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-24

CARERS TRUST BUCKS AND MILTON KEYNES
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report
with the financial stetements of the charity for the year ended 31 March 2025. The Trustees have adopted the
provisions of Accounting and Reporting by Charilies- Statement of Recommended Practice applicable to charities
preparing their accounts in accordance wÈth the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective 1 January 2015).
The financial statemenls 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 governing document, the Companies Act 2006, FRS
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"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
1021"
Charltable Actlvltles
OBJECTIVES AND ACTIVITIES
Objectives and alms
Carers Bucks, which is the operating name of Carers Trust Bucks and Milton Keynes, develops and delivers
services to unpaid carers across Buckinghamshire. A carer is someone who looks after a family member or friend
on a regular basis, who needs support due to disabilily. a long-term condition, frailty, poor mental health and
wellbeing andlor addiction. Carers Bucks was established in 2003 and is a registered charity and a company limited
by guarantee.
Carers Bucks provides information, advice and guidance to unpaid carers of all ages to support them in their caring
role. Carers Bucks staff teams and volunteers run support groups and provide training to help carers remain
physically, menlally and emotionally able to continue in their roles. The teams also work with professionals and
partners across Health. Adult Social Care, Children's Services, Education and the Voluntary Sector lo share
leaming and knowledge on best practice. This work aims to enable all sectors to identify carers earlier in their caring
journey, support them to reach their full potential and for carers to have a life alongside Iheir caring role.
Carers Bucks aims to provide a wide variety of needs-led services to carers of all ages, including..
One-to-one emotional and practical support for both adult and young carers
Carer training sessions
Peer support groups
School-based support for young carers
Groups and aclivilies as respite for young carers
Hospital-based support to identify and assist carers at key transition points
In Buckinghamshire, carers make up approximately 10% of the adult population. around 55.000 people. Census
data in 2021 showed that 42,000 local residents self-idenlified as Carers. Across the UK, GPS typically record one
third of carers- which would be over 18,000. In Bucks, GP records showed 13,982 individuals recorded as Carers.
All of these figures demonstrate the ongoing work that is required to highlight the breadth of the carer responsibility
so that carers recognis8 the important role they fijlfil Ihe first step in re￿iving the support to which they are
entitled and from which they can benefit, Whilst there are over 15.000 carers registered with Carers Bucks, we
remain committed to identifying carers earfier in their caring role, increasing the number of carers registered and
accessing our support, as well as increasing our reach within diverse communities and underrepresented groups of
all ages.
We know that when carers are identified early and supported in the right way, they are more likely to stay well,
remain in work. engage fully in education and continue caring in a safe and sustainable way. This not only improves
outcomes for carers and the people they care for, but also reduces pressure on statutory services
helping to
avoid crises, hospitai admis&ons and breakdowns in care.

CARERS TRUST BUCKS AND MILTON KEYNES
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
For young carers, there is a lol of evidence that their own wellbeing and educational outcomes can be compromised
by their caring responsibilities if they are nol supported. Early intervention, school-based support. one to one work
and access to respite and peer ne￿orkS can help young carers to thrive both in their caring role and in their wider
lives.
Published evidence shows that investment in carer support delivers significant value.
In Buckinghamshire, Carers Bucks has demonstrated a social return on investment
{SROII of over £19 for every £1 invested
The SROI calculator was developed and hosted by Carers Trust
our national membership organisalion. This
multiplier underlines the robust case for preventative, community-based support.
Supporting carers is both the right and proper thing to do and a practical slep towards a more resilient and cost-
effeclive care system. Local authorilies and the health setvice have a key role to play in making sure that carers are
recognised, valued and able lo access the help they need.
Publlc beneflt
The Trustees have paid due regard to the Charily Commission guidan￿ on Seclion 4 of the Charities Act 2006
regarding public benefit.
ACHIEVEMENT AND PERFORMANCE
Charltable actlvltles
During 2024-25, Carers Bucks continued to play an important role in supporting unpaid carers across the county.
Hlghllghts of our work thls year Include:
13,590 adult carers supported with information. advice and emotional support,. of whom 550 were referred
into our personalised resilience servi
2,148 young carers and 433 young adult carers engaged in activities and school-based sessions. 150
Young Carers engaged in a series of individualised 1 to 1 sessions and 101 Young Adult Carers.,
Co-production of Buckinghamshire Carers Strategy and co-chairing the Buckinghamshire Carers
Partnership Board.,
Launched our Carer Forum to capture the voices of Carers within our seNices - to listen, learn and adapt
to their needs.
Delivered a new range of themed workshops, training sessions and peer groups to meel a broader range
of need and widen our reach. 1,559 adult carers engaged across 188 revilalised sessions:
Targeted diverse communities through a dedicated EDI {Equity. Diversity and Inclusion) role enabling
consistent presence in faith groups and alongside other voluntary seclor organisations:
Developed new partnerships with both ihe Department for Work & Pensions and Open University to raise
awareness and broaden our presence
133 schools engaged with our service. 502 unregistered young carers engaged within the s8Nice by
wort<ing in this way. 58 assemblies and staff awareness sessions delivered by our dedicated team.
600A of new referrals into Young Carers were aged under 10. This compares with 30¥0 of registered Young
Carers being under 10 years old.
16 Young Carers given the opportunity for both respite and developing resilience by engaging them in a 3
day Young Carers Festival
Built a network with Social Prescribers. to devdop connections in primary Gare, starting with a pilol in
Burnham.

CARERS TRUST BUCKS AND MILTON KEYNES
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
In addition, 2024-25 saw the development of our digital offer. Worf<ing alongside Brtdgit Care, Carers Bucks
launched an online platform to provide carers with 2417 access to infomiation and support. The second generation
of this platform will be launched in August 2025 and allows carers to create personalised support plans, join online
pèer groups and register directly with Carers Bucks to receive in-person sUPPOrt when needed. This development
marks a significant step in improving access and flexibility for carers managing complex responsibilities and work
or other duties.
2024-2025 continued to see carers face significant challenges relating to the cost-of-living crisis, financial
disadvantage, an increasingly complex system of laws and rLtles and reducing supplies of day-care and respite
seNices. In partnership with Bucks Council, Carers Bucks was able to identify and support 2,182 carers and
dislribule £450,000 of Central Government funding, based on our relationships and kno￿edge of carers across
the county.
Throughout the year, the team continued to deliver high-quality Se￿iCe$. The commissioning process that was
commenced in November 2024 was abandoned in June 2025 {post year-end). A TUPE related hiring free2e was
imposed on the organisation for almost six months and strategic decisions were prevenled from being taken during
Ihis period. A 12-month extension of the carers support contract prevents the changes outlined in the bid from
being implemented and so a revised one-year strategy is being developed that develops key priorilies for the year.
1. Identifying and ￿a¢hIng more carers
2. Provlding the right support, at the right time, in the most inclusive and cost effective way
3. Working in partnership with carers to develop resllience and prevenl crisis
4. Amplifying our impact alongside the carer voice
5. Ensurlng we are fil for the future
Paramount lo achieving these priorities is Ihat the staff team feel supported and valued at work. The organisalion
employs an average of 29 members of staff. Carers Bucks continues to develop and improve all the services it
provides through staff training, increased experience and knowledge. alongside IT and communications support. We
are starting to see the impact of Al in general office tasks and as we develop our digital strategy, this will be
expanded to have greater impact on the service. To ensure all employees are involved in matters relating lo the
whole organisation regular staff meelings take place in person and online. Since early March 25, to provide
reassuran￿ during a period of flux, there has been a weekly internal update from the new CEO.
The Trustees are proud of the professionalism, focus and compassion with which the team have navigated this
period of flux. They have shown themselves to be both agile and resilient and most importantly, they have always
kept the needs of carers at the forefront of all that they do. The Trustees would like to thank the entire team of staff
and volunteers for their continuing hard work and dedication.
We are also grateful to our donors both large and small and for the relationship with Buckinghamshire Council which
enables our much-needed work lo continue.
Investment pollcy and objectives
A Finan￿ Committee comprising the Chairman and the Treasurer as a minimum is responsible for the stewardship
of any funds that are invested. The services of professional financial advisers will be secured, to advise the
Committee, where appropriate.
Investments
Funds surplus to short term needs are invested in M&G Charifund and the Charities Official Investmenl Fund
{COIF). Both of these funds accumulate income to increase the capital growth.
The endowment fund known as 'Sylvia's Fund for Young Carers. (received through a legacy in 2014) remains
invested in income units in the Sarasin Alpha Common Investment Fund.
The value of investmenls increased during the year and the Sarasin fund delivered income in line with
expectations.

CARERS TRUST BUCKS AND MILTON KEYNES
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Flnancial summary and ReseNes pollcy
Summary
Tolal income received for the year 202412025 was £1,378,264. The surplus reseNes carried fO￿ard al 3121 March
2025 of £1,836,337, reflects the investment held in the endowment fvnd of £1,076,359.. restrtcted funds of £76,2g3
and £883,685 of unrestricted reserves that have been allocated by Trustees to projects continuing into 2024125.
Resenies Policy
At the year end, unrestricted funds were £683,685. The Trustees have committed to designaling a sum of £186,000
to fund two key development roles, outside of the core contract. as well as to accelerate delivery of our Digital
strategy. These investments will both strengthen capacity and sUPPOrt long term sustainability during a period of
uncertainty. This leaves a balance of £497,685 equivalent to 4 months of budget operating costs, which will enable
the organisalion to reduce the charity's activities to a sustainable level for the future in the event of a contract not
being renewed and l or other funding being unobtainable.
Golng concern
Buckinghamshire Council approved an extension to the contract initially awarded in 2018, which secured funding to
deliver services to carers of all ages across Buckinghamshire until March 2025. In June 2025 we received a further
12-month extension which confirms fiJnding until July 2026. We therefore expect to commence a procurement
process in Autumn 2025 which will be managed through a formal commissioning process.
Future Plans
The financial commitment from Buckinghamshire Council enaNes Carers Bucks to continue delivering and
developlng our essential services for unpaid carers across the county. Alongside this core funding. we remain
focused on building strategic partnerships to extend our reach and increase our impact.
We were successful in our partnership bid to deliver the Buckinghamshire Dementia Support service alongside Age
UK Bucks and Age UK HHB. This partnership builds on our established expertise and networks across both health
and the voluntary sector. 11 will enable us lo create a seamless, person-centred servica for carers from the point of
memory concern, to awaiting an appoinlmenl wth the Memory Clinic to post diagnosis support. for both older adults
and young onset dementia.
Opportunities such as this are increasingly important a5 commissioned income comes under pressure across the
charity and care sectors. In response, the Board is taking a slrategic approach to ensure we remain sustainable and
relevant within a changing landscape - not only for the organisation and the wider Health and Social Care Sector,
but also for Carers. We are committed to working collaboratively with both Health and the Council to deliver the
priorities of the Buckinghamshire Carers Strategy 2025 through the Carers Partnership Board, and lo supporting the
Buckinghamshire, Oxfordshire and Berkshire (shortly to become the Thames Valley) Integrated Care Strategy,
ensuring that carers of all ages and backgrounds can access the support they need.
At the same time, we remain mindful of ihe broader Ghallenges facing the voluntary sector. including shrinking
donalions and downward pressure on contract values. In this environment, our focus is on maintaining high-quality,
accessible support for carers - enabling them to sustain their caring role while looking after their own wellbeing.
After over 2 decade of close partnership, the Trustees of Carers Bucks and Carers Milton Keynes have agreed to
rationalise the structure of the Iwo charities lo belter ￿llect Ihe reality of our joint working and the broader
geographic remit of Carers Bucks (registered as Carers Trust Bucks and Milton Keynes). In July 2025, the Board of
Carers Milton Keynes resolved to wind up the charity and fomially transfer its functions and ongoing activity to
Carers Bucks. As part of this process, the residual funds of Carers Milton Keynes wll also be transferred. There will
be no disruption lo services for carers in Milton Keynes, who will continue to benefit from the same high-quality
support under the Carers Bucks name.

CARERS TRUST BUCKS AND MILTON KEYNES
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Governing Document
The charity is conlrolled by il's Memorandum and Articles ofAssociats'on. and constitutes a limited company, limited
by guarantee, as defined by the Companies Ad 2006.
The trustees. who are also the directors for the purF)ose of company law, and who served during the year and up to
the date of signature of the financial statements were:
L Davies
S George
N Jacobs
E Lowndes
M Rowlands
M Willis
J Vseleckova
Organisallonal structure
The directors of Carers Bucks (Carers Trust Bucks and Milton Keynes), a company limited by guarantee, are the
Trustees of the charity. All Trustees give their lime voluntarily and received no benefit from the charity during the
year. The DireCtors￿rUsteeS meet 8 times each year.
Due to the nature of the work, it is our aim to ensure thal there will always be trustees with personal experience of
caring appointed to the board. In appointing new Trustees, we have a defined skill mix established for the board
and we seek to appoint those with specific expertise to add to or replace the skill coverage.
Inductlon and tralnlng of Trustees
Potential Trustees are, for the most part, familiar with the charity's aims and work before they are appolnted.
Truste8s are invited to meet senior managers and key employees, and to attend at least Iwo board meetings before
their role is confirmed. All Trustees are expected to complete specific distance learning programmes in key areas
related to the work of the charity.
Management
Carers Bucks Service Managers are responsible for the day-tO4day operation of services and manage Ihe individual
project funds. The Trustees are grateful for the resilience shown by the Senior Management Team in challenging
limes. The role of Chief Executive is key to the success of any organisation, particularly when facing significant
challenges. Holly Hoskisson returned from matemily leave in April 2024 but in March 2025 she left to move
oversees. The new Chief Executive Offi￿r, Karen Irons is responsible for ensuring that the charity delivers its
seNices within the strategic and financial framework agreed by the Truslees.
Audltor
In accordance with the companvs articles, a resolution proposing that Richardsons be reappointed as auditor of the
company will be put at a General Meeting.
The trustees, report was approved by the Board of Trustees.
L Davies
Trustee
Date..

CARERS TRUST BUCKS AND MILTON KEYNES
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees, who are also the directors of Carers Trust Bucks and Milton Keynes for the purpose of company law,
are responsible for preparing the Trustees. 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 Irustees 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. ol the charitable company for that year.
In preparing these financial statements, the trustees are reqUI￿d to..
select suitable accounting policies and then apply them consistently.,
observe Ihe methods and principles in the Charilies SORP.
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial 5tatements', and
prepare the financial ststements on the going concem basis unless It is inappropriate to presume that the
charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any tlme the financial position of Ihe charitable company and enable them to ensure that the financial slatements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charltable
company and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities.
Company law requires the trustees to prepare financial statements for each financial year whlch glve a true and fair
view of the state of affairs of the charitable company and of the incoming resources and application of resources,
Includlng the income and expenditure, of the charitable company for that year.
In preparing these financial stalements, the trustees are required to..
select suitable 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.,
state whether applicable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial stalements- and
prepare the financial stalements on the going concem basis unless il is inappropriate to presume that the
charitable company will conlinue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any lime the financial position of the charitable 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 charilable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies.

CARERS TRUST BUCKS AND MILTON KEYNES
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF CARERS TRUST BUCKS AND MILTON KEYNES
Opinion
We have audited the financial statements of Carers Trust Bucks and Milton Keyne5 (the 'charitable company.) for
the year ended 31 March 2025 which comprise the statement of financial aclivilies, the summary income and
expenditure account. the balan￿ sheet, the statement of cash flows and notes to the financial statements. including
significant accounting policies. The financial reporting frameworl( that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The
Financial Reporting Slaiidard applicable in th8 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 Charilable company's affairs as at 31 March 2025 and of its
inGoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,.
and
have been prepared in accordance vdith the requirements of the Companies Act 2006.
Basls for opinlon
We conducled our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audiloffs responsibililies for Ihe 811dil ol
Ihe fin8ncial stalem8nts section of our report. We are independent of the charitable company in accordance with the
ethical requirements that are relevant lo 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 wilh these requirements. We believe
that the audit evidence we have obtsined is sufficient and appropriate lo provid8 a basis for our opinion.
Concluslons relatlng to going concern
In auditing the financial stalements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriale.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significanl doubl on Ihe charitable company's ability to continue
as a going concern for a period of at least Iwelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees )Mih respect to going concern are described in the
relevant sections of this report.
Other Informatlon
The olher information comprises the infomiation included in the annual report other than the financial stalements
and our auditor's report thereon. The trustees are responsible for the olher information contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any fomi
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistenl with the financial statements or our knowledge obtained in
the course of the audil, or otherwise appears to be materially misstated. If we identify 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 misstatement of this olher information, we are required to report that fact.
We have nothing to report in this regard.

CARERS TRUST BUCKS AND MILTON KEYNES
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF CARERS TRUST BUCKS AND MILTON KEYNES
Matters on whlch we are required to report by exception
We have nothing to report in respect of the followng matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires us to report to you If, in our opinion..
the information given in the financial statements is inconsistent in any material respect wilh the trustees,
report; or
sufficient accounting records have not been kept-, or
the financial statements are not in agreement with the accounting records- or
we have not received all the information and explanations we require for our audit.
Responslbilities of trustees
As explained more fully in the statement of trustees, responsibilities, the tTUStees. who are also the directors of the
charitable company for the purpose of company law. are responsible for Ihe preparation of the financial ststements
and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is
necessary to enable the preparalion of financial statements that are free from material misstatement, whether due
lo fraud or error. In preparing the financial statements, the tTUStees are responsible for assessing the charitable
company's ability to continue as a going concem, disclosing, as applicable. malters relaled to going concern and
using the going concem basis of accounting unless the Iruslees either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but to do so.
Audltor's responsibilities forthe audlt of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulalions made or having effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from
material misslatement, whether due to fraud or error, and lo issue an auditor's 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 delect a material misstalemenl when it exists. Misstatements can 8rise from fraud or
error and are considered material if, individually or in the aggregate, they could ￿asonablY be expecled to inftuence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our wocedures are capable of detecting I￿egular1t1es, inGluding fraud, is detailed below.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charity's trustees
those matters we are required to state to them in an auditor's report and for no olher purpose. To the fullest extent
permitted by law, we do not aC￿pt or assume responsibility to anyone other than Ihe charity and the charity's
trustees a5 a body, for our audit work, for this report, orfor the opinions we have formed.
Jemima King (S
r Statutory Auditor)
For and on behalf of Richardsons, Statutory Auditor
Chartered Accountants
30 Upper High Street
Thame
Oxfordshire
ox9 3EZ
Date:...
0.1./Q.912Q25
Richardsons is eligible for appointmenl as auditor of the charilable company by virtue of its eligibility for appointment
as auditor of a company under section 1212 of the Companies Act 2006.

CARERS TRUST BUCKS AND MILTON KEYNES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Restricted Endowment
funds
funds
funds
2025
2025
2025
Total Unre<
2025
Notes
Income from:
Donations and legacies
Charitable activities
42,136
855,983
29,339
450.806
71,475
1,306,789
Total Income
898,119
480,145
1,378,264
Expenditure on:
Charitable activitles
886,070
500.778
1,386,848
Total expenditure
886,070
500,778
1,386,848
Net gainsl{lossesl on investments
10
18,822
11,199
30,021
Net Incomel(expendlturel and movement In funds
30,871
(20.633)
11,199
21,437
Reconclllatlon of funds:
Fund balances at 1 April 2024
693,145
56,595 1,065,160 1,814,900
Fund balances at 31 March 2025
724,016
35,962 1,076,359 1,836.337
The statement of financial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive froi

CARERS TRUST BUCKS AND MILTON KEYNES
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
All income funds
2025
2024
Gross income
Gains on investments
1.378,264
18.822
1,001,221
25,994
Total income in the reporting period
1,397,086
1,027,215
Total expenditure from Income funds
1.386,848
958,682
Net Income for the year
10.238
68,533
10-

CARERS TRUST BUCKS AND MILTON KEYNES
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
as restated
Notes
Flxed assets
Tangil)le assets
Investments
12
13
3,679
1,445,953
1,415,932
1.449,632
1,415,932
Current assets
Debtors
Cash at bank and in hand
14
77,614
472,586
40.103
477,721
550,200
517,824
Creditors: amounts falling due within
one year
15
(108,705)
(64,066)
Net current assets
441,495
453,758
Total ass8ts18ss current Ilabllltles
1,891.127
1,869,890
Provision for other Ilabilities
16
(54,790)
(54,7901
Net assets
1,836,337
1,814,900
The funds of the charitable company
Endowment funds
Restricted income funds
Unrestricted funds
19
20
21
1,076,359
35,962
724,016
1,065.180
56,595
693,145
1,836,337
1,814,900
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
wilh respect to acccunling records and the preparalion of financial statements.
The members have not required the company to obtain an audit of ils financial statements under the requirements
of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the trustees on
L Davies
Trustee
Company registration number 04941481 (England and Wales)
11

CARERS TRUST BUCKS AND MILTON KEYNES
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operatlng activities
Cash absorbed by operations
25
(275)
(35,458)
Investlng activities
Purchase of tangible fixed assets
(4,860)
Net cash used In Investlng aetlvltles
(4,860)
Net cash used in ftnanclng activltles
Net decrease In cash and cash equivalents
(5,135)
(35,458)
Cash and cash equivalents at beginning of year
477,721
513,179
Cash and cash equlvalents at end of year
472,586
477,721
12-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A¢countlng pollcles
Charity information
Carers Trust Bucks and Milton Keynes is a private company limited by guarantee incorporaled in England and
Wales. The registered office is Ardenham Court, Oxford Road, Aylesbury, Bucks, HP19 8HT, UK.
1.1 Accountlng convention
The financial stalements have been prepared in accordance with the charitable company's articles of
association, the Companies Act 2006, FRS 102 -The Financial Reporting Standard applicable in the UK and
Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Slatemenl
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 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 th8 charitable company.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Prior period error
The prior period adjustment made was to recategorise unrestricted expenditure relating to Sylvia's Fund as
restricted expenditure.
1.3 Golng concern
At Ihe time of approving the financial slatemenls, the trustees have a reasonable expectation that the
charitable company has adequate resources to continue in opèralional existence for the foreseeable future.
Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial
statemenls.
There is no certainty that funding will be received for the following period, however Ihe tNslees believe that
the charity has adequate resources. due to the value of the fixed asset investments, to conlinue operations for
at least a period of 12 months from the date of approval of these financial statements.
1.4 Charltable funds
Unrestricted funds are available for use at Ihe discretion of the truslees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charitable company.
1.5 Income
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 it is probable that income will be received.
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.
13-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policles
(Continued)
Legacies are recognised on receipt or othe￿iSe if the charitable company has been notified of an impending
distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as
a contingent assel.
A granl that specifies performance conditions is recognised in income when the perfom7ance conditions are
met. Where a grant does not specify performance conditions il 15 recognised in income when the proceeds are
received or receivable. A grant received before the recognition criteria are satisfied is reGognised as a liability.
1.6 Expendlture
Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits wll be required in setuement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attiibulable to a single
activity are allocated directly to that activity. Shared costs which conlribute to more than one activity and
support costs which are not altributable to a single activity are apportioned be￿een those aclivilies on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.7 Tanglble fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of
depreciation and any impairment losses.
Oepreclation 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:
Fixtures and fittings
Computers
200k on cost
500A on reducing balance
The gain or loss arising on Ihe disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.8 Fixed asset Investments
Fixed assel investments are initially measured at Iransactlon price excluding transaction costs, and are
subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in net
incomel<expendilure) for the year. Transaction costs are expensed as incurred.
1.9 Impairment of fFxed assets
At each reporting end date, the charitsble company reviews the carrying amounts of its tangible assets to
determine whether there is any indicalion that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of Ihe asset is estimated in order to determine the extent of the
impairment loss (if any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
14-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting pollcle5
(Contlnued)
1.11 Financial Inst¥uments
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 to all of its financial instruments.
Financial instruments are recognised in the charitable companws balance sheet when the charitable company
becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are oftset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Baslc financlal assets
Basic financial assets, which include deblors and cash and bank balances, are initially measured al
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless Ihe arrangement constilutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Baslc flnan¢lal liabllltles
Basic financial liabilities, includlng creditors and bank loans are initially recognised al transaction prrc8 unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilits'es classified as payable
within one year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for gocés or se￿iCeS that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabililies if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method,
Derecognltlon of flnanclal liabilllles
Financial liabilities are derecognised when the charitable company's contractual obligations expire or are
discharged or cancelled.
1.12 Provlsions
Provisions are recognised when the charitable company has a legal or constructive present obligation as a
result of a past event, it is probable Ihat Ihe charilable company will be required to settle that obligation and a
reliable estimate can be made of Ihe amount of the obligation.
The amount recognised as 8 provision is the best estimate of Ihe consideration required lo settle the present
obligation at the reporting end dale, laking into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, the amounl expected to be required to settle the
obligation is recognised at present value. INhen a provision is measured at present value, the unwinding of
the discount is recognised as a finance cost in net incomel{expenditure) in the period in which il arises.
1.13 Employee benefits
The cost of any unused holiday entFilement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charitable Gompany is
demonstrably committed to terminate the employment of an employee or to provide termination benefits.
15-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting pollcles
{Contlnuedl
1.14 Retlrement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as Ihey fall due.
Crltical accountlng estimates and Judgements
In the application of the charitsble company's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from olher sources. The estimates and associated assumptions are based on historical experience
and other factors that are Considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
perlods.
Income from donations and legacles
Unrestrlcted Restrlcted
funds
funds
2025
2025
Total Unrestrlcted Restricted
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Legacies
42,136
42,136
29,339
21,058
21,058
29,241
29.339
29,241
42,136
29,339
71,475
21,058
29,241
50,299
Income from charitable actlvltles
Unrestrlcted Restricted
funds
funds
2025
2025
Total Unrestylcted Restrlcted
funds
funds
2024
2024
Total
2026
2024
Charltable actlvities
Bucks Council income
Ancillary trading income
842,493
13,490
450,806 1,293,299
13.490
842,076
6,700
102,146
944.222
6,700
855,983
450.806 1,306,789
848,776
102,146
950,922
16-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charltable activlties
2025
2024
Dlrect costs
Staff costs
Activity costs
463,305
502,382
555.739
94,416
965,687
650,155
Share of support and governance cosls (see note 6)
Support
Governance
411,323
9,838
298,979
9,548
1,386,848
958,682
Analysis by fund
Unrestricted funds
Restricted funds
886,070
500,778
816,205
142,477
1,386,848
958,682
Support costs allocated to actlvitles
2025
2024
Staff costs
Depreciation
Management
Finance costs
Information technologry
Human resources
Governance costs
170.489
1,181
158,212
3,820
76,966
655
9,838
112,866
193
92,498
2,019
90,824
579
9,548
421,161
308,527
Analysed between:
Unrestricted
Restricted
401,724
19,437
281,039
27,488
421,161
308.527
Net movement In funds
2025
2024
The net movement in fijnds is stated after chargingl(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
9,550
1,181
9,300
193
17-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, but
expenses were reimbursed of£281 (2024- £235).
Employees
The average monlhly number of employees during the year was:
2025
Number
2024
Number
26
27
Employment costs
2025
2024
Wages and salaries
Social security costs
Other penslon costs
563,861
51,011
18,922
593,296
56,191
19,118
633,794
668,605
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneralion of key management personnel was as follows:
2025
2024
Aggregate compensation
76,001
10 Gains and losses on Investments
Unrestricted Endowment
funds
funds
2025
2025
Total Unrestrlcted Endowment
funds
funds
2024
2024
Total
2025
2024
Gainsl(losses) arising on..
Revalualion of
investments
18.822
11,199
30,021
25,994
78,322
104,316
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
18-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
12 Tangible flxed assets
Flxtures and
flttSngs
Computors
Total
Cost
At 1 April 2024
Additions
1,037
38,639
4,860
39,676
4,860
At 31 March 2025
1,037
43,499
44,536
Depreclatlon and Impairment
At 1 April 2024
Depreciation charged in the year
1,037
38,639
1,181
39,676
1,181
At 31 March 2025
1.037
39,820
40.857
Carrylng amount
At 31 March 2025
3,679
3,679
13 Flxed ass8t Inveslments
Llsted
investments
Cost or valuatlon
At 1 April 2024
Valuation changes
1,415.932
30,021
At 31 March 2025
1,445,953
Carrylng amount
At 31 March 2025
1,445,953
At 31 M8rch 2024
1,415,932
14 Debtors
2025
2024
Amounts falling due within one year".
Other debtors
Prepayments and accrued Income
61,999
15.615
26,198
13,905
77,614
40,103
19-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15 Creditors: amounts falllng due within one year
2025
2024
Notes
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals
11,225
22,708
50,368
4,907
19,497
9,171
16,934
21,723
3,886
12,352
17
108,705
64,066
16 Provisions for Ilabllltles
2025
2024
54,790
54,790
Movements on provlslons".
At 1 April 2024 and 31 March 2025
54,790
17 Deferred Income
2026
2024
Other deferred income
22,708
16,934
Deferred income is included in the financial statements as follows..
2025
2024
Deferred income is included within:
Current liabilities
22,708
16,934
Movements in the year.
Deferred income at 1 April 2024
Released from previous periods
Resources deferred in the year
16.934
(16,934)
22,708
134,872
(134,872)
16,934
Deferred income at 31 March 2025
22.708
16,934
-20-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Retlrement beneflt schemes
2025
2024
Deflned contributlon schemes
Charge to profit or loss in respect of defined contribution schemes
18,922
19,118
The charitable company operates a defined contribution pension scheme for 811 qualifying employees. The
assets of the scheme are held separately from those of the charitable company in an independently
administered fund.
19 Endowment funds
Endowment funds represent assets which musl be held permanently by the charitable company. Income
arising on the endowment funds can be used in accordance with the objects of the ¢haritsble company and is
included as unrestricted income. Any Capital gains or losses arising on the assets form part of the fund,
At 1 Aprll
2024
Gains and At 31 March
losses
2025
Permanent endowments
1,065,160
11,199
1,076,359
Prevlous year:
At 1 Aprll
2023
Galns and At 31 March
losses
2024
Permanent endovHnents
986,838
78,322
1,085,160
20 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
Incomlng
resources
Resources At 31 March
expended
2025
Sylvia's Fund
Young Carers in Schools
Bucks Council Household
51,528
5.067
29,339
(47,799)
{5,067)
(447,912)
33,068
450,806
2,894
56,595
480,145
{500,778)
35,962
21

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
20 Restricted funds
(Continued)
Prevlous year:
At l Aprll
2023
Incoming
resources
Resources At 31 March
expended
2024
Sylvia's Fund
Big Lottery
HS2 Groundworks
Young Carers in Schools
62,618
29.241
81.792
20,354
(40,331)
(81,792)
(20,354)
51,528
5,067
5,067
67.685
131.387
(142,477)
56,595
21 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject lo specific Condilions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for Specific purposes.
Gains and At 31 March
losses
2025
At 1 Aprll
2024
Incomlng
resources
Resources
expended
General funds
693,145
898,119
(886.070)
18,822
724,016
Prevlous year:
At l Aprll
2023
Incomlng
resources
Resources
expended
Gains and At 31 March
lossos
2024
General funds
613,522
869,834
(816.2051
25,994
693,145
22 Analysls of net assets between funds
Unrestricted
funds
2025
Restrlcted Endowment
funds
funds
2025
2025
Total
2025
At 31 March 2025:
Tangible assets
Investments
Current assetsl{liabilities)
Provisions
3,679
369,594
405.533
(54,790)
3,679
1,445,953
441,495
(54,790)
1,076,359
35,962
724.016
35,962
1,076,359
1,836,337
-22-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
22 Analysis of net assets between funds
{Contlnued)
Unrestrlcted
funds
2024
Restricted Endowment
funds
funds
2024
2024
Total
2024
At 31 March 2024:
Investments
Current 8ssetsl(liabililies)
Provisions
350,772
397,163
(54.790)
1,065,160
1,415,932
453,758
(54,790)
56,595
693,145
56,595
1,065.160
1,814.900
23 Operating leas8 commltments
Lesse8
Al 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 Iwo and five years
1.041
12,783
1,041
1,041
13,824
Lessor
During the year the charitable company made payments in relation to operating leases of £25,655 {2024.'
£22.520).
24 Related party transactions
The charity is connected to Carers Milton Keynes, a similar charily operating under the same managemont. All
the trustees, who are also directors. of Carers Milton Keynes are also trustees and directors of Carers Trust
Bucks and Millon Keynes,
During the year ended 31 March 2025 Carers TNst Bucks and Milton Keynes charged Carers Milton Keynes
shared salary, office and IT costs totalling £72,706 (2024.. £40,611).
During the year ended 31 March 2025 Carers Trust Bucks and Milton Keynes transferred funding to Carers
Milton Keynes totalling £Nil (2024.. £21,493).
During the year ended 31 March 2025 Carers Milton Keynes repaid amounts totalling £44,405 (2024=
£62,618).
At the 31 March 2025 an amount of £54,499 {2024: £26.198) was owed to Carers Trust Bucks and Milton
Keynes by Carers Milton Keynes.
-23-

CARERS TRUST BUCKS AND MILTON KEYNES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
25 Cash absorbed by operatlons
2025
2024
Surplus for the year
21,437
146,855
Adjustments for:
Fair value gains and losses on inveslmenls
Depreciation and impairment of langible fixed assets
(30,0211
1,181
{104,316)
193
ovements In worklng capltal:
(Increase) in debtors
Increase in creditors
(Decrease) in provisions
Increasel(decrease) in deferred income
(37.511)
38.865
(4,209)
1,167
42,790
(117,938)
5,774
Cash absorbed by operatlons
(275)
{35,458)
26 Analysis of Changes in net funds
The charltable company had no material debt during the year.
27 Prior perlod adjustment
Changes to the balance sheet
At 31 March 2024
As prevlously
Adjustment
reported
As rastated
Capital funds
Endowrnent funds
1.065,160
1,065,160
Income funds
Restricted funds
Unrestricted funds
96,926
652,814
{40,331)
40,331
56.595
693,145
Total equlty
1,814,900
1.814,900
Changes to the proflt and loss account
Perlod ended 31 March 2024
As previously
Adjustment
As restated
reported
Net movement in funds
146,855
146,855
-24-