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← Inspire Community Trust

2025-03-31-accounts

INSPIRE COMMUNITY TRUST

CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Registered Charity No : 1107820 Registered Company No: 05296168 (England and Wales)

INSPIRE COMMUNITY TRUST

CONTENTS

CONTENTS Page No
Legal and Administrative Details 1
Trustees' Report 2 – 8
Independent Auditors' Report 9 – 11
Consolidated Statement of Financial Activities 12 – 13
Balance Sheets 14 – 15
Consolidated Cashflow Statement 16
Notes to the Consolidated Accounts 17 – 35

INSPIRE COMMUNITY TRUST

LEGAL AND ADMINISTRATIVE DETAILS

Trustees Ranjit Bharma (Chair)
Hugh Miller (Treasurer)
Vinod Khanna (Chief Executive)
Anne Bramley (resigned 13 February 2025)
Mark Lloyd (resigned 18 November 2025)
Secretary Vinod Khanna
Key Management Personnel Vinod Khanna
Gemma Micallef
Charity Number 1107820
Company Number 05296168
Registered office 130-136 Maidstone
Road Sidcup, Kent
England
DA14 SHS
Independent Auditors Sargeant Partnership Limited
Unit 5, White Oak Square
London Road
Swanley
Kent
BR8 7AG
Bankers National Westminster Bank
1 Townley Road
Bexleyheath
DA6 7JG
Solicitors Cripps Harries Hall LLP
Wallside House
12 Ephraim Road
Tunbridge Wells
Kent
TN1 1EG

1

INSPIRE COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present herewith their report and the consolidated financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The consolidated financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.

1. Reference & Administration Details

Inspire Community Trust was formed in and incorporated by guarantee on 24 November 2004 and is registered charity and company limited by guarantee. Inspire has no share capital. The guarantee of each member is limited to £1. The governing document is the Articles of Association of the company and members of the Board of Trustees are the members and non-executive Directors of the Company.

Board of Trustees:

Ranjit Bhamra Chair Hugh Miller Treasurer Vinod Kumar Khanna Anne Bramley

Secretary:

Vinod Kumar Khanna

Registered Office:

130-136 Maidstone Road Sidcup Kent DA14 5HS

Registered Number: 5296168 Charity Registration Number : 1107820

Auditors:

Sargeant Partnership Limited Unit 5, White Oak Square London Road Swanley Kent BR8 7AG

Bankers:

National Westminster Bank,1 Townley Road, Bexleyheath DA6 7JG

2. Governance, Structure & Management

2.1 Governance

The Board of Trustees continues to be supported by a number of Committees, which include Trustees with relevant skills. They include the following:

Each Sub-committee is required to have its own clear terms of reference agreed by the Board. The Sub-committees meet on a regular basis and their reports are standing agenda items on the full Board meetings. The Chief Executive’s report is also a standing item on the Board’s agenda. During 2024-2025 the sub-committee related issues were included in the Board agenda due to fewer number of Trustees compared with the previous years. The Trust is currently in the process of recruiting Trustees and plans to reconvene the sub-committee meetings once new Trustees are on board.

2

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

2.1.1 Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its net incoming or outgoing resources for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees give strategic direction to the Trust and ensure that:

2.1.2 Disclosure of Information to Auditors

Insofar as each of the Trustees of the company at the date of approval of this report is aware, there is no relevant audit information (information needed by the company’s auditor in connection with preparing the audit report) of which the company’s auditor is unaware. Each Trustee has taken all of the steps that he/she should have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

2.2 Structure

Inspire is a company limited by shares with Inspire being the only shareholder.

Inspire’s Articles of Association provide for a minimum of 3 and a maximum of 15 Trustees. Trustees are appointed for a fixed term of three years, with each new appointment to be reviewed after the first year.

The Board continually keeps under review its membership and the breadth of skills and expertise to ensure proper governance. When required, it seeks to appoint new Trustees. Prior to appointment, potential Trustees will meet with the Chairman and Trustees.

When new Trustees are appointed, each Trustee is provided with information, including the organisation’s principal policies and procedures and Charity Commission Guidance. New Trustees meet with the Chairman and the Chief Executive and are invited to visit the offices and services.

During the year the Board of Trustees met on three occasions.

Day-to-day responsibility for the management of the organisation’s business is delegated to the Chief Executive as detailed in Standing Orders. The Chief Executive is the principal adviser to the Board of Trustees and reports to them on the organisation’s performance against the Strategic and Operational plans approved by the Board each year.

2.3 Management & Staffing

The Trust’s structure has been designed to provide clear direction to the Trust, with the Chief Executive working closely with the non-executive Board of Directors to set the strategic framework for the Trust and to ensure the Executive Team runs the Trust professionally and in accordance with its rules, objectives and standing orders.

The Chief Executive (CEO) has responsibility for developing and delivering services in accordance with the service specifications of the Commissioning Authorities such as the Local Authorities and the NHS Clinical Commissioning bodies, and the strategies agreed by the Board of Trustees. The CEO ensures that the staff teams are recruited and supported to provide the skills and expertise needed to run a successful organisation and that the values of the Trust are observed, and services are delivered

3

INSPIRE COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

efficiently and effectively in accordance with the contracts with the commissioners of services/funders.

During this financial period the CEO was supported by a team including a Commercial and Operations Director, Head of Finance and Operational Managers for each of the service area. The Commercial and Operations Director also has the responsibility of assisting the Chief Executive with strategic developments and undertaking delegated management responsibilities in the absence of the Chief Executive, as required.

During the period of this report the Trust employed approximately 80 staff and had revised its management structure for effective operational management of the Trust. The Trust engages agency and freelance staff in order to meet its staffing requirement, as appropriate. The Chief Executive also has the delegated responsibility for commissioning and managing appropriate Human Resources (HR) and Information and Communication Technology (ICT) support required by the Trust.

2.4 Staff Training and Development

One of the core values of the Trust is investing in staff to develop their skills and potential. Hence, the Trust provides appropriate training and development opportunities in order to ensure that they are fully equipped to perform their duties. Staff training needs are systematically identified by the line managers in discussion with each member of staff as part of their performance appraisal and development review each year. This leads to preparing a training plan and commissioning appropriate training for individual members of staff or as a group, where appropriate. The training plan is implemented in partnership with the key commissioners. Inspire staff also access training co-ordinated by the local voluntary Service Council - Bexley Voluntary Service Council.

In addition, face to face training days for mandatory training requirement such as moving and handling, safeguarding vulnerable adults are held at Inspire during the year for all staff to enable them to function safely and effectively.

As part of our contracts for the delivery of services on behalf of local authorities and the NHS Commissioning bodies we are required to demonstrate to them that Inspire has robust health and safety management systems and processes in place. To this end we have arrangements in place for the professional support for developing, implementing and monitoring systems and procedural manuals to comply with legislation and our ISO accreditation. Currently we commission the professional support from Citation and a specialist consultant to:

2.5 Disabled Persons

Inspire is committed to equality of employment and its policies reflect a that.

Where appropriate and possible we seek to employ people with disabilities and make positive adjustments to ensure people with disabilities can carry out their duties.

2.6 Volunteers

Since it establishment in 2004 Inspire and its service users have been fortunate to benefit from volunteers who supported our services. Currently there are 13 volunteers supporting our service users.

2.7 Statement of Public Benefit

Under the Charities Act 2011, charities are required to demonstrate that their aims are for the public benefit. The two key principles which must be met in this context are, firstly, that there must be an identifiable benefit or benefits; and, secondly, that the benefit must be to the public, or a section of the public. Charity Trustees must ensure that they carry out their charity’s aims for the public benefit, must have regard to the Charity Commission’s guidance and must report on public benefit in their Annual Report. Inspire’s Board of Trustees regularly monitor and review the success of the organisation in meeting its mission, values and objectives which are supported by the business plan.

Inspire’s mission is to work in partnership with communities to enable, empower and enhance the lives of older people and people with disabilities.

It aims to:

4

INSPIRE COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

It achieves its aims by:

The Trustees confirm, in the light of the guidance, that Inspire’s mission and values fully meet the public benefit test and that all the activities of the charity, detailed under section 4 of this report, are undertaken in pursuit of its mission.

3. Objectives

The objectives for which the Company is established are the relief of persons permanently or temporarily resident, or for the time being resident in England, “who are of necessitous circumstances, suffer from, are recovering or convalescing from some physical or mental illness or disability, or are elderly people, or are younger people, adolescents or children”.

Our Strategic Objectives are to:

4. Activities

Inspire has continued to develop and provide a range of services in accordance with the service specification and action plan agreed with the commissioners/funders of services. They include:

5. Strategic Report

5.1 Achievements and Performance against Objectives set.

Inspire has continued to follow the action plan, incorporating developments, as agreed with the Commissioning bodies and in accordance with its business plan. The action plan has been monitored and kept under review through regular meetings with Inspire staff and the Commissioning bodies and the Board of Trustees. Our key achievements this year have included:

5

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

Facts and Figures

Community Equipment Service – Additional 3.5% increase from 23-24 activities with over 90% delivery on KPIs Pressure Relieving Equipment – Additional 9% increase from 23-24 activities with over 92% delivery on KPIs Concessionary Travel Services – 7581 applications received including an increase in Blue Badge applications of 12% since 2324.

322 Referrals and all training completed for the Sensory Support service. Day Support growing and maintaining an average of 75% attendance.

5.2 Monitoring Service Delivery and Quality Assurance

Inspire Community Trust has robust service monitoring in terms of service volumes and targets as well as quality monitoring systems in place. The data gathered regarding service volumes is produced on a monthly basis in preparation for quarterly contract monitoring meetings with the commissioner/funders of services. This data is also reported at Board meetings.

The Trust has robust quality assurance systems in place, which include:

5.3 Financial Review

Financial review

Group income for the year was £4,780,087 (2024: £4,528,853). Group expenditure amounted to £4,491,074 (2024:

£4,295,197). The resulting surplus was £289,013(2024: surplus £233,656).

The Group Balance Sheet shows a positive position of £8,354,170 (2024: £8,036,861), and the Balance Sheet for Inspire Community Trust has improved from £8,333,189 to £8,641,333.

5.4 Risk Assessment

The Board of Trustees has considered the risks to which the charity is exposed to in terms of the business, operational and financial risks.

Risk factors to the charity continue to include:

6

INSPIRE COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The CEO along with the management team has continued to review and introduce procedures and reporting regimes to manage and mitigate identified risks. Having considered the issues faced by the Trust, the CEO has been focusing on assessing and identifying steps to be taken to manage the above risks. This has helped to formulate a risk management strategy and a reserves policy.

Inspire intends to continue working positively with the relevant stakeholders in connection with the above issues and develop appropriate services in partnership with the commissioners and service users.

The charity’s financial strategy is to:

Work continues to review and introduce procedures and reporting regimes to manage and reduce identified risks.

5.5 Funding Policy - Plans for 2025/2026 and Beyond - Future Developments & New Services

Since its establishment in 2004, Inspire’s main source of income has been from the contracts with the Local Authorities and the NHS Commissioning bodies. In addition, the Trust also generates income from spot purchases by the Commissioning Bodies and private customers using their Direct Payment Funding by the local authorities and their private funds.

The Trust will also continue to seek to widen its customer base and services by:

We will continue to:

7

INSPIRE COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5.6 Reserves Policy

The Trustees have examined Inspire Community Trust’s requirements for reserves in the light of the predominant risks to the organisation. It is the Trustees’ view that the building maintenance and development reserve will enable Inspire to maintain its existing capital assets and use it to modernise premises and develop future services in order to achieve the Trust’s mission and meet the challenges arising from the National and local policy developments/changes in the field of Adult Social Care. These challenges, in particular, are in relation to de-commissioning of block service contracts by local authorities and promotion of direct payments, personalised budgets and individual budgets.

The Board have agreed to:

5.7 Investment Policy

The Trust requires adequate sums in its current account for running costs. One of the Trust’s key strategies for investment has been to invest in property/ies to run its services as opposed to renting or leasing property. The Trustees’ strategy is to hold the remaining funds in an interest-bearing instant access account as they become surplus to the working capital requirement. This action has led in the past to a substantial increase in interest income, but due to interest rates continuing to be at an all-time low action was taken to try and improve interest on these reserves by investing in fixed term deposits. The level in 2024-2025 was £43,094.

The Board will also continue to regularly review its investment policy and the use of its property in order to maximise the investment income.

BY ORDER OF THE BOARD OF TRUSTEES

Date : 30 January 2026

Vinod Kumar Khanna

Chief Executive and Company Secretary

8

REPORT OF THE INDEPENDENT AUDITORS' TO THE TRUSTEES OF INSPIRE COMMUNITY TRUST

Qualified opinion

We have audited the financial statements of Inspire Community Trust (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the financial statements:

Basis for qualified opinion

No FRS102 report was obtained in respect of the LGPS scheme and thus we have been unable to satisfy ourselves if any pension liability or asset should be included in the accounts for the year ended 31 March 2025. As a result the full disclosure requirements of FRS102 relating to multi-employer Defined Benefit pension scheme have not been included I the financial statements. See note 17 on page 30 for disclosures made.

We conducted 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 Auditors' responsibilities for the audit of 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 requirements.

Key audit matters

Except for the matters described in the basis for qualified opinion section, we have determined that there are no key audit matters to be communicated in our report.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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 significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, our responsibility 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 audit 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 other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations

2008 requires us to report to you if, in our opinion:

9

REPORT OF THE INDEPENDENT AUDITORS' TO THE TRUSTEES OF INSPIRE COMMUNITY TRUST

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 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 concern 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 financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISA's (UK).

In identifying and assessing risks of material misstatement in respect of irregularities including, fraud and noncompliance with laws and regulations, our procedures included the following:

-We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to the management and directors. We corroborated our inquiries through our review of board minutes and papers provided to the audit engagement team.

-We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

a) Identifying and assessing the design effectiveness of controls management has put in place to prevent and detect fraud;

b) Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

c) Challenging assumptions and judgements made by management in its significant accounting estimates;

d) Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations: and

e) Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

10

REPORT OF THE INDEPENDENT AUDITORS' TO THE TRUSTEES OF INSPIRE COMMUNITY TRUST

Use of our report

This report is made solely to the charitable company'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 to the charitable company's trustees those matters we are required to state to them in an auditors' 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sargeant Partnership Limited Chartered Accountants and Statutory Auditors Elible to act as an auditor in terms of Section 1212 of the Companies Act 2006 5 White Oak Square London Road Swanley Kent BR8 7AG Date: 30 January 2026

11

INSPIRE COMMUNITY TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations
Charitable activities
2
Investment income
Rental income
Interest receivable
Other
3
Total Income
Expenditure on:
Charitable activities
4
Corporation tax - trading
Total expenditure
4
Net income/(expenditure) before transfers
Other recognised gains / (losses):
Remeasurement gain on defined benefit pension
scheme
17
Net movement in funds
Reconciliation of funds:
Fund balances at 1 April 2024
Fund balances at 31 March 2025		 Unrestricted
Funds
£
Restricted
Funds
£
2025
Total
£
310
-
310
4,669,802
-
4,669,802
66,881
-
66,881
43,094
-
43,094
-
-
-
4,780,087
-
4,780,087
4,491,074
-
4,491,074
-
-
-
4,491,074
-
4,491,074
289,013
-
289,013
28,297
-
28,297
317,310
-
317,310
7,980,307
56,554
8,036,861
8,297,617
56,554
8,354,171		 2024
Total
£
11,019
4,418,493
74,918
24,416
7
4,528,853
4,295,197
-
4,295,197
233,656
63,158
296,814
7,740,047
8,036,861

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.

12

INSPIRE COMMUNITY TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Comparative information only

Note
Income from:
Donations
Charitable activities
2
Investment income
Income from investments
Interest receivable
Other
3
Total Income
Expenditure on:
Charitable activities
4
Corporation tax - trading
Total expenditure
4
Net income/(expenditure) before transfers
Other recognised gains / (losses):
Remeasurement gain on defined benefit pension
scheme
17
Net movement in funds
Reconciliation of funds:
Fund balances at 1 April 2023
Fund balances at 31 March 2024		 Unrestricted
Restricted
2024
Funds
Funds
Total
£
£
£
3,769
7,250
11,019
4,418,493
-
4,418,493
74,918
-
74,918
24,416
-
24,416
7
-
7
4,521,603
7,250
4,528,853
4,287,947
7,250
4,295,197
-
-
-
4,287,947
-
4,295,197
233,656
-
233,656
63,158
-
63,158
296,814
-
296,814
7,683,493
56,554
7,740,047
7,980,307
56,554
8,036,861		 2023
Total
£
1,057
4,344,636
68,487
7,101
73
4,421,354
4,585,579
(5,843)
4,579,736
(158,382)
40,879
(117,503)
7,857,550
7,740,047

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.

13

INSPIRE COMMUNITY TRUST

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Intangible assets
10
Tangible assets
11
Investments
12
Current assets
Stock
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Defined benefit pension liability
17
Net funds
Funds
Restricted funds
19
Unrestricted funds: Designated
funds
20
Other charitable funds
Non-charitable funds
12
21		 2025
£
47,457
714,494
2,007,369
£
118,284
5,826,347
-
5,944,631
2,445,861
8,390,492
(36,322)
8,354,270
-
8,354,170
56,554
6,065,248
2,207,582
24,786
8,354,170		 2024
£
92,493
1,010,442
1,681,444
2,784,379
(742,107)
£
147,855
5,883,056
-
6,030,911
2,042,272
2,769,320
(323,459)
8,073,183
(36,322)
8,036,861
-
8,036,861
56,554
6,151,528
1,842,730
(13,951)
8,036,861

The accounts were approved by the Board on 30 January 2026.

Mr Ranjit Bhamra (Chair) Mr Hugh Miller (Honorary Treasurer) Trustee Trustee Company Number: 05296168

14

INSPIRE COMMUNITY TRUST

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Stock
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due one
year
within
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due
more than one year
after
16
Defined benefit pension liability
17
Net funds
Funds
Restricted funds
19
Unrestricted funds: Designated
funds:
20
Other charitable funds
21		 2025
£
-
2,127,236
1,881,278
4,008,514
(1,620,106)
£
5,219,147
1,070,100
6,289,247
2,388,408
8,677,655
(36,322)
8,641,333
-
8,641,333
56,554
6,409,864
2,174,915
8,641,333		 2024
£
-
1,907,274
1,567,818
3,475,092
(1,436,916)
£
5,261,235
1,070,100
6,331,335
2,038,176
8,369,511
(36,322)
8,333,189
-
8,333,189
56,554
6,451,952
1,824,683
8,333,189

The accounts were approved by the Board on 30 January 2026

Mr Ranjit Bhamra (Chair) Mr Hugh Miller (Honorary Treasurer) Trustee Trustee Company Number: 05296168

15

INSPIRE COMMUNITY TRUST

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Note
Net cash flow from operating activities
22
Cash flow from investing activities
Payments to acquire tangible fixed assets
Interest and investment income received
Net cash flow from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April 2024
Cash and cash equivalents at 31 March 2025
Cash and cash equivalents consists of:
Cash at bank and in hand
Bank overdraft
Cash and cash equivalents at 31 March 2025		 2025
£
358,806
(75,775)
43,094
(32,881)
325,925
1,681,444
2,007,369
2,007,369
-
2,007,369		 2024
£
902,735
(177,891)
24,416
(153,475)
749,260
932,184
1,681,444
1,681,444
-
1,681,444

16

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(a) Basis of accounting Inspire Community Trust is a registered charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide residential care, therapy and education for children and young people who have faced deprivation, cruelty or neglect, and who may have emotional, behavioural or educational difficulties.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Consolidation In the opinion of the member of the committee, the charitable company and its subsidiary undertakings comprise a small group.

The consolidated financial statements incorporate the results of the charity and its trading subsidiaries, Inspire Medicare Limited and Blossoms Care Home Limited, for the year ended 31 March 2025. As a consolidated Statement of Financial Activities is published, a separate Statement of Financial Activities for the parent company is omitted from the group statements by virtue of Section 408 of the Companies Act 2006.

(c) Fund accounting Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charitable company. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that the fund balance accurately reflects the designation policy adopted by the trustees.

(d) Income recognition

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Voluntary income, including donations, gifts and grants that provide core funding or are of a general nature, is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

17

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(d) Income recognition

The main income is derived from supporting people with physical and sensory impairments to meet their individual needs and to promote and encourage them to live more independently. This income is included in the Statement of Financial Activities when receivable;

Rebates as a result of a block contract agreement with the London Borough of Bexley are accounted for when receivable.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Investment income includes dividends, interest and rent. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

(e) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Expenditure on charitable activities comprises those costs incurred by the Foundation in the delivery of its activities and services for beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(f) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Other costs have been allocated on the basis of staff time spent.

The analysis of these costs is included in note 5.

(g) Intangible fixed assets

Goodwill on consolidation is amortised over a period of 10 years following year of acquisition.

(h) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life, as follows:

Freehold land Not depreciated Freehold buildings & improvements 2% straight line Fixtures, fittings & equipment 25% straight line Rental assets 25% straight line Motor Vehicles 25% straight line

18

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(k) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Retirement benefits to employees of the Trust are provided by the Local Government Pension Scheme (‘LGPS’). These are defined benefit schemes. The charity also operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

The LGPS is a funded scheme and the assets are held separately from those of the Trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of Financial Activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial losses are recognised immediately in other recognised gains and losses. Actuarial gains are recognised up to a maximum of the previously recognised losses in other recognised gains and losses.

(m) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

19

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(n) Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Foundation makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Key judgements

Pension contribution rebates

Included within income is rebates of employers pension contribution recovered under a block contract with London Borough of Bexley whereby any amount payable in excess of 6% is recoverable by the Trust. This has not been offset against the pension contributions payable.

Key estimates

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the fixtures and fittings and motor vehicles, and note 1(h) for the useful economic lives for each class of assets.

LGPS

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Bad debt provision

The value of trade debtors is sensitive to the recoverability in full of any invoices issued to each customer. Once the debt becomes overdue it is chased and periodically reviewed to ensure it is recoverable in full. If a provision is deemed necessary this is included on an annual basis. No provision for bad and doubtful debts is currently included in the accounts.

(o) Going concern

The Trust has a strategy to ensure that there are sufficient funds raised through the block contracts supplemented by spot purchase and the rental income from the Trust owned properties. These funds are kept in secure interest-bearing bank account (Reserve Account). There are current accounts for meeting the Trust and subsidiaries current day to day working capital. Any pressures caused by delayed credits are managed through its cash reserves. The nature of the Trust’s activities are such that there can be considerable unpredictable variation in the timing of cash inflows. The trustees have prepared projected cash flow information for the period ending 31 March 2025 and beyond. On the basis of this cash flow information, the trustees consider that the Trust will continue to meet its obligations from its cash reserves. On this basis, the trustees consider it appropriate to prepare the accounts on the going concern basis.

(p) Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

20

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

2
CHARITABLE ACTIVITIES
SLA Contract
Other income
Care home
Apex - equipment sales
3
OTHER INCOME
Blue badge holders
RADAR keys
4
EXPENDITURE
Charitable activities
Provision of community care
Care home
Taxation
Total charitable activities
Total expenditure		 Unrestricted
funds
£
Restricted
funds
£
Total
2025
£
Total
2024
£
2,584,781
-
2,584,781
2,520,288
92,270
-
92,270
123,209
906,365
-
906,365
808,233
1,086,386
-
1,086,386
966,763
4,669,802
-
4,669,802
4,418,493
2025
2024
£
£
-
-
-
7
-
7
Staff Costs
Direct costs Support costs
Total
Total
£
£
£
2025
£
2024
£
1,767,580
748,748
1,096,773
3,613,101
3,522,689
570,008
121,993
185,972
877,973
772,508
-
-
-
-
-		 Unrestricted
funds
£
Restricted
funds
£
Total
2025
£
Total
2024
£
2,584,781
-
2,584,781
2,520,288
92,270
-
92,270
123,209
906,365
-
906,365
808,233
1,086,386
-
1,086,386
966,763		 Unrestricted
funds
£
Restricted
funds
£
Total
2025
£
Total
2024
£
2,584,781
-
2,584,781
2,520,288
92,270
-
92,270
123,209
906,365
-
906,365
808,233
1,086,386
-
1,086,386
966,763
4,669,802
-
4,669,802
4,418,493
2025
2024
£
£
-
-
-
7
-
7
2,337,588
870,741
1,282,745
4,491,074
4,295,197
2,337,588
870,741
1,282,745
4,491,074
4,295,197

21

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

5
SUPPORT COSTS
Staff training
Equipment
Repairs and maintenance
Rent and rates
Light and heat
Insurance
Travel and subsistence
Vehicle expenses
Communications
IT support and maintenance
Legal and professional costs
Professional and consultancy fees
Bank charges
Deprecation
Amortisation
Loss on disposal of fixed assets
Amounts due on overdue tax
Provision for doubtful debts
Subscriptions
General office expenses
Exceptional item
Governance		 Provision
of
communit
y
Total
Total
care
Care Home
2025
2024
£
£
£
£
2,995
3,080
5,375
16,137
27,283
14,795
42,078
2,351
124,417
30,059
154,476
144,633
65,795
2,480
68,275
89,866
72,331
14,579
86,910
94,128
56,909
4,486
61,395
56,434
14,796
-
14,796
16,944
104,846
2
104,848
113,563
30,850
2,260
33,110
28,469
124,031
-
124,031
136,026
19,959
4,833
24,792
3,951
-
-
-
-
4,242
392
4,634
4,013
116,844
15,839
132,683
182,328
29,571
-
29,571
29,571
-
-
-
-
1,990
500
2,490
-
70,913
40,195
111,108
(638)
2,448
331
2,779
5,949
101,051
2,124
103,175
91,466
-
15,992
15,992
-
126,202
34,025
160,227
111,108
1,096,773
185,973
1,282,745
1,126,299

Support costs include an exception item which relates to the settlement of an employment dispute under an COT3 agreement.

6
GOVERNANCE COSTS
Staff costs
Auditors' remuneration
Auditors' remuneration - previous auditors
Auditors' remuneration - subsidiaries
Accountancy services
Accountancy services - subsidiaries
Legal fees		 2025
£
2024
£
-
55,305
28,575
-
7,848
60,936
54,314
16,015
13,491
21,834
-
6,137
6,880
160,227
111,108

Governance costs are included within support costs detailed above and have been allocated on the basis of time spent in respect of staff costs and direct apportionment basis for other costs.

7
NET MOVEMENT IN FUNDS
This is stated after charging
Depreciation of tangible fixed assets
Amortisation
Auditors' remuneration (including subsidiary)		 2025
£
2024
£
132,683
182,328
29,571
29,571
116,241
82,889

22

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

8 TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

The Chief Executive Officer (CEO) is also a Trustee of Inspire Community Trust. He received a salary of between £100,001 and £110,000 (2024: £120,001 - £130,000).

The Charity Commission gave consent on 17 June 2005 to the CEO being remunerated under clause 5.2.5 of the charitable company's Memorandum and Articles of Associations as amended by written resolution on 14 January 2025.

None of the other Trustees (or any persons connected with them) received remuneration during the year, or were reimbursed expenses (2024: nil).

9 EMPLOYEES
Employment costs 2025 2024
£ £
Wages and salary costs 2,083,140 2,044,993
Social Security costs 171,781 178,833
Pension costs - defined contribution 82,667 106,059
2,337,588 2,329,885
Number of employees
The number of employees, by headcount, during the year was: 2025 2024
Number Number
Provision of community care 63 66
Blossoms Care Home 22 25
85 91
The number of employees whose annual emoluments were £60,000 or more were:
2025 2024
£70,001 - £80,000 1 1
£100,000 - £110,000 1 -
£120,001 - £130,000 - 1

Of the employees whose emoluments exceed £60,000, 2 (2024: 2) have retirement benefits accruing under defined contribution schemes.

The senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day to day basis and are detailed on page 1. The aggregate remuneration paid to the key management personnel totalled £182,710 (2024: £258,856).

23

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

Goodwill Total
10 INTANGIBLE ASSETS £ £
Group
Cost / deemed cost
As at 1 April 2024 and at 31 March 2025 295,710 295,710
Amortisation
As at 1 April 2024 147,855 147,855
Charge for year 29,571 29,571
At 31 March 2025 177,426 177,426
Net book values
At 31 March 2025 118,284 118,284
At 31 March 2024 147,855 147,855
11 TANGIBLE ASSETS Fixtures, Motor Total
Land and Improvements fittings and Vehicles
buildings to buildings equipment &
rental assets
Group £ £ £ £ £
Cost / deemed cost
As at 1 April 2024 3,452,959 3,159,881 560,107 37,007 7,209,954
Additions - 70,308 5,667 - 75,975
Disposals (124,814) - (250,814) - (375,628)
At 31 March 2025 3,328,145 3,230,189 314,960 37,007 6,910,301
Depreciation
As at 1 April 2024 568,576 204,580 516,735 37,007 1,326,898
Charge for period 46,149 63,796 22,739 - 132,684
Release on disposal (124,814) - (250,814) - (375,628)
At 31 March 2025 489,911 268,376 288,660 37,007 1,083,954
Net book values
At 31 March 2025 2,838,234 2,961,813 26,300 - 5,826,347
At 31 March 2024 2,884,383 2,955,301 43,372 - 5,883,056

Included in land and buildings is freehold land at a value of £837,900. Land is not depreciated.

24

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

11 TANGIBLE ASSETS
Charity
Cost / deemed cost
As at 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
As at 1 April 2024
Charge for period
Release on disposal
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024		 Fixtures,
Motor
Total
Land and
Improvements
fittings and
Vehicles
buildings
to buildings
equipment &
£
£
rental assets
£
£
£
2,802,139
3,159,881
481,168
37,007
6,480,196
-
70,308
3,695
-
74,003
(124,814)
-
(200,080)
-
(324,894)
2,677,325
3,230,189
284,784
37,007
6,229,305
528,542
204,580
448,833
37,007
1,218,961
37,038
63,796
15,257
-
116,091
(124,814)
-
(200,080)
-
(324,894)
440,766
268,376
264,009
37,007
1,010,158
2,236,559
2,961,813
20,775
-
5,219,147
2,273,596
2,955,301
32,336
-
5,261,235

Included in land and buildings is freehold land at a value of £837,900. Land is not depreciated.

25

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

12 FIXED ASSET INVESTMENTS


Group
Market value at 1 April 2024 and at 31 March 2025
Historical cost:
At 31 March 2025
At 31 March 2024
Charity
Market value at 1 April 2024 and at 31 March 2025
Historical cost:
At 31 March 2025
At 31 March 2024		 Shares in
subsidiary
undertaking
Total
£
£
-
-
-
-
-
-
£
£
1,070,100
1,070,100
1,070,100
1,070,100
1,070,100
1,070,100

Shares in subsidiary undertakings

100% of 100 share capital of £1 each in Inspire Medicare Ltd

100% of 100 share capital of Blossoms Care Home Limited. The charity acquired the subsidiary on 15 November 2019 for a consideration of £1,070,000.

Holdings of more than 20%

The charity holds more than 20% of the share capital of the following company:

Proportion of voting rights
Country of registration or and ordinary share capital Principal
Subsidiary undertaking incorporation held activity
Inspire Medicare Ltd England and Wales 100% Day care
centre and
medical care
to the elderly
and disabled
people of the
community
Blossoms Care Home Ltd England and Wales 100% Care home

26

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

12 FIXED ASSET INVESTMENTS

The principal activity of Inspire Medicare Limited is the provision of a day care centre and medical care to the elderly and disabled people of the community. The investment is measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.

The trading results of Inspire Medicare Limited for the year ended 31 March 2025 are as follows:

Turnover
Other operating income
Cost of sales
Administration costs
Interest payable and similar expenses
Operating surplus for the year
Corporation tax
Distributions to parent charity under gift aid
Retained surplus for the year
The assets and liabilities of the subsidiary at 31 March 2025 were:
Fixed assets
Current assets
Current liabilities
Aggregate share capital and reserves
Share capital
Profit and loss reserve		 2025
£
2024
As restated
£
3,479,266
4,002,950
7,103
-
(569,421) (534,370)
(2,905,113)
(3,459,892)
(1,490)
-
10,345
8,688
-
-
-
-
10,345
8,688
2,567 2,795
2,376,625
1,896,815
(2,246,135)
(1,776,898)
133,057
122,712
100
100
132,957
122,612
133,057
122,712

The principal activity of Blossoms Care Home Limited is the provision of a care home. The investment is measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.

The trading results of Blossoms Care Home Limited for the year ended 31 March 2025 are as follows:

Turnover
Other operating income
Cost of sales
Administration costs
Operating surplus for the year
Corporation tax
Distributions to parent charity under gift aid
Retained (deficit) for the year
The assets and liabilities of the subsidiary at 31 March 2025 were:
Fixed assets
Current assets
Current liabilities
Aggregate share capital and reserves
Share capital
Profit and loss reserve		 2025
£
2024
As restated
£
906,365
804,071
-
-
(26,670)
(45,992)
(851,303)
(749,293)
28,392
8,786
-
(112)
-
-
28,392
8,674
604,633
619,026
2,058,644
1,542,645
(712,704)
(2,298,134)
(108,071)
(136,463)
100
100
(108,171)
(136,563)
(108,071)
(136,463)

27

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

13 STOCKS Group Charity
2025 2024 2025 2024
£ £ £ £
Finished goods 47,457 92,493 - -
14 DEBTORS Group Charity
2025 2024 2025 2024
£ £ £ £
Trade debtors 594,330 502,362 27,180 15,754
Other debtors 62 299,585 62 299,585
Amounts due from subsidiary undertaking - - 2,063,002 1,560,195
Prepayments and accrued income 120,102 208,495 36,992 31,740
714,494 1,010,442 2,127,236 1,907,274
**15 ** CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR Group Charity
2025 2024 2025 2024
£ £ £ £
Bank overdraft - - - -
Amounts due to subsidiary undertaking - - 1,678,261 1,188,903
Capital grant 1,000 1,000 1,000 1,000
Trade creditors 170,852 138,031 52,102 28,549
Taxes and social security costs (53,022) 36,753 (208,408) 30,148
Other creditors 37,110 240,631 35,334 15,884
Accruals 167,519 325,691 61,817 172,432
323,459 742,107 1,620,106 1,436,916
16 CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR Group Charity
2025 2024 2025 2024
£ £ £ £
Original grant 50,000 50,000 50,000 50,000
Grant released brought forward (12,678) (11,678) (12,678) (11,678)
Grant release (1,000) (1,000) - (1,000)
Revaluation of fixed assets held under grants (13,678) (12,678) (12,678) (12,678)
Capital grant 36,322 37,322 37,322 37,322
Group Charity
2025 2024 2025 2024
£ £ £ £
Debt due in one year or less 1,000 1,000 1,000 1,000
In more than one year but not more than two years 36,322 36,322 26,322 36,322
37,322 37,322 37,322 37,322

Previously capital grants received were netted off the cost of housing properties in the Balance Sheet and depreciation was applied to the net cost. Under FRS102, housing properties are stated gross and depreciation was applied to the gross cost. The capital grants received are included in creditors and are amortised over the same period over which the structure of housing properties is depreciated. The grant is repayable indefinitely and is repayable in the event that the property is handed back to the donor or the usage of the building as specified by the donor in the grant contract is no longer met. The contingent liability for the full grant is £50,000.

28

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The Trust's employees belong to the following pension schemes,: the NHS Pension Scheme and the Local Government Pension Scheme (LGPS), which is managed by London Borough of Bexley. Both are multi-employer defined benefit schemes. In addition, the Trust operates a defined contribution stakeholder scheme and contribute into personal pension schemes.

The pension costs are assessed in accordance with the advice of independent qualified actuaries. The latest actuarial valuation of the NHS Pension Scheme related to the period ended 31 March 2020, and that of the LGPS related to the period ended 31 March 2022.

In February 2025, the Trust was admitted into the LGPS to accommodate staff previously employed by London Borough of Bexley being transferred to the Trust under TUPE provisions. The LGPS transferred these employees to the Trust on 1 March 2005 and a further group of staff in August 2010 when the Integrated Community Equipment Service transferred. The minimum contribution rates for the year was 21.1%. Under the terms of the new block contract with the London Borough of Bexley, which commenced on 1 September 2016, the Trust recovers all but 6% of the Employer's contribution.

In April 2011, the Trust became a Direction Employer for the NHS Pension Scheme when staff were transferred under TUPE provisions from South London Healthcare NHS Trust to operate the Wheelchair Service. The employer's contributions were paid at the rate of 14.4%. Under the terms of the new block contract with the London Borough of Bexley, which commenced on 1 September 2016, the Trust recovers all but 6% of the Employer's contribution. In December 2019, the Trust also took on NHS staff transferred under TUPE provisions from Oxleas NHS Foundation Trust and we await approval as a Direction Employer for these staff.

NHS Pension Scheme

Introduction

Past and present employees are covered by the provisions of the NHS Pension Schemes. Details of the benefits payable and rules of the schemes can be found on the NHS Pensions website at www.nhsbsa.nhs.uk/pensions. Both the 1995/2008 and 2015 schemes are accounted for, and the scheme liability valued, as a single combined scheme. Both are unfunded defined benefit schemes that cover NHS employers, GP practices and other bodies, allowed under the direction of the Secretary of State for Health and Social Care in England and Wales. They are not designed to be run in a way that would enable NHS bodies to identify their share of the underlying scheme assets and liabilities. Therefore, each scheme is accounted for as if it were a defined contribution scheme: the cost to the NHS body of participating in each scheme is taken as equal to the contributions payable to that scheme for the accounting period.

In order that the defined benefit obligations recognised in the financial statements do not differ materially from those that would be determined at the reporting date by a formal actuarial valuation, the FReM requires that “the period between formal valuations shall be four years, with approximate assessments in intervening years”. An outline of these follows:

Accounting valuation

A valuation of scheme liability is carried out annually by the scheme actuary (currently the Government Actuary's Department) as at the end of the reporting period. This utilises an actuarial assessment for the previous accounting period in conjunction with updated membership and financial data for the current reporting period, and is accepted as providing suitably robust figures for financial reporting purposes. The valuation of the scheme liability as at 31 March 2025, is based on valuation data as 31 March 2024, updated to 31 March 2025 with summary global member and accounting data. In undertaking this actuarial assessment, the methodology prescribed in IAS 19, relevant FReM interpretations, and the discount rate prescribed by HM Treasury have also been used.

29

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

(Continued)

NHS Pension Scheme (continued)

The latest assessment of the liabilities of the scheme is contained in the report of the scheme actuary, which forms part of the annual NHS Pension Scheme Accounts. These accounts can be viewed on the NHS Pensions website and are published annually. Copies can also be obtained from The Stationery Office.

Full actuarial (funding) valuation

The purpose of this valuation is to assess the level of liability in respect of the benefits due under the schemes (taking into account recent demographic experience), and to recommend contribution rates payable by employers.

The latest actuarial valuation undertaken for the NHS Pension Scheme was completed as at 31 March 2020. The results of this valuation set the employer contribution rate payable from 1 April 2024 to 23.7% of pensionable pay. The core cost cap cost of the scheme was calculated to be outside of the 3% cost cap corridor as at 31 March 2020. However, when the wider economic situation was taken into account through the economic cost cap cost of the scheme, the cost cap corridor was not similarly breached. As a result, there was no impact on the member benefit structure or contribution rates.

The 2024 actuarial valuation is currently being prepared and will be published before new contribution rates are implemented from April 2027.

Under the definitions set out in FRS 102, the NHS Pension Scheme is an unfunded multi-employer pension scheme. The Trust has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Trust has set out above the information available on the scheme.

Pension contributions amounting to £852 (2024: £1,379) were unpaid to the NHS Pension Scheme at 31 March 2025.

London Borough of Bexley Pension Fund

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contribution made for the year ended 31 March 2025 was £56,010 (2024: £86,309) of which employer's contributions totalled £40,692 (2024: £63,158) and employees' contributions totalled £15,318 (2024: £23,151). The employer's contributions are effectively shown as a gain on the LGPS asset, in the absence of full disclosure of the LGS asset/liability.

The primary contribution rate for future years are 24.1% (from 1 April 2025) then increasing to 28.4% (from 1 April 2026) for employers. There is also a secondary contribution rate due to the Trust's share of the LGPS being in surplus which amounts to -24.1% (from 1 April 2025) and -28.4% (from 1 April 2026).

Pension contributions amounting to £3,952 (2024: £3,573) were unpaid to the London Borough of Bexley Pension Fund at 31 March 2025.

As detailed in the Audit Report on page 9 the Trust has not obtained a LGPS FRS102 valuation for the year ended 31 March 2025 and therefore full disclosure of the FRS102 accounting requirements has not been possible.

.

30

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS Other defined contribution schemes

(Continued)

The Trust has staff auto enrolled, as appropriate, into the Government's NEST scheme. The Trust contributes up to 6% for employees from the old scheme and those having a permanent contract as at July 2014 and 2% for new employees post July 2014. Some staff have opted out of the above scheme and some are ineligible due to the level of remuneration.

In February 2020 the Trust took over certain services from Apex Medical and 23 staff were TUPE'd over. These staff are members of the NOW Pension Scheme.

Contributions payable by the company for the year 2025
2024
£
£
36,928
28,591

Pension contributions amounting to £3,292 (2024: £5,081) were unpaid to the stakeholder schemes at 31 March 2025.

18 COMPANY STATUS

The charity is a company limited by guarantee. In the event of a winding-up the liability of each member will not exceed £1.

19 RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

CURRENT YEAR
Day services and sensory support
services
Bexley library
COMPARATIVE YEAR
Day services and sensory support
services
Bexley library		 Transfers
Balance at 1
between
Balance at 31
April 2024
Income
Expenditure
funds
March 2025
£
£
£
£
£
56,554
-
-
-
-
56,554
-
56,554
-
-
-
56,554
Transfers
Balance at 1
between
Balance at 31
April 2023
Income
Expenditure
funds
March 2024
£
£
£
£
£
56,554
-
-
-
56,554
-
7,250
(7,250)- -
56,554
-
-
-
56,554

Day services and sensory support services

Funds received specifically for day services (activities and transport) and sensory support services.

Bexley Village Community library

Grant to manage library on behalf of Bexley Council.

31

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

20 DESIGNATED FUNDS

The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

GROUP - CURRENT YEAR
Business development
Fixed asset fund
Dilapidations fund
GROUP - COMPARATIVE YEAR
Business development
Service development
Dilapidations fund
CHARITY - CURRENT YEAR
Business development
Fixed asset fund
Dilapidations fund
CHARITY - CURRENT YEAR
Business development
Fixed asset fund
Dilapidations fund
Business development
Service development
Dilapidations fund		 Balance at
New
Designations
Transfers/ Balance at 31
1 April 2024 designations
released
Gains
March 2025
£
£
£
£
£
20,617
-
-
-
20,617
6,030,911
-
(86,280)
-
5,944,631
100,000
-
-
-
100,000
6,151,528
-
(86,280)
-
6,065,248
Balance at
New
Designations
Transfers/ Balance at 31
1 April 2023 designations
released
Gains
March 2024
£
£
£
£
£
20,617
-
-
-
20,617
6,064,921
-
(34,010)
-
6,030,911
100,000
-
-
-
100,000
6,185,538
-
(34,010)
-
6,151,528
Balance at 1
New
Designations
Transfers/ Balance at 31
April 2024 designations
released
Gains
March 2025
£
20,617
£
-
£
-
£
£
20,617
6,331,335
-
(42,088)
-
6,289,247
100,000
-
-
-
100,000
6,451,952
-
-
-
6,409,864
Balance at 1
New
Designations
Transfers/ Balance at 31
April 2023 designations
released
Gains
March 2024
£
20,617
£
-
£
-
£
£
20,617
6,323,082
8,253
-
-
6,331,335
100,000
-
-
-
100,000
6,443,699
8,253
-
-
6,451,952
Publicity and marketing of existing and/or new services.
Pump priming new services for future sustainability of the organisation.
Repairs required to the premises and equipment should the contract cease
or our leasehold properties are handed back to the lessor.

Fixed asset fund

represents the net book value of fixed assets held net of any associated borrowings.

32

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

21 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Designated Restricted Total
GROUP funds funds funds
CURRENT YEAR £ £ £ £
Fund balances at 31 March 2025 are represented by:
Intangible fixed assets - 118,284 - 118,284
Tangible fixed assets - 5,826,347 - 5,826,347
Investments - - - -
Current assets 2,592,149 120,617 56,554 2,769,320
Creditors: amount falling due within one year (323,459) - - (323,459)
Creditors: amount falling due after more than one year (36,322) - - (36,322)
Defined benefit pension - - - -
2,232,368 6,065,248 56,554 8,354,170
COMPARATIVE YEAR
Unrestricted Designated Restricted Total
GROUP funds funds funds
CURRENT YEAR restated restated £ £
£ £
Fund balances at 31 March 2024 are represented by:
Intangible fixed assets - 147,855 - 147,855
Tangible fixed assets - 5,883,056 - 5,883,056
Investments - - - -
Current assets 2,607,208 120,617 56,554 2,784,379
Creditors: amount falling due within one year (742,107) - - (742,107)
Creditors: amount falling due after more than one year (36,322) - - (36,322)
Defined benefit pension - - - -
1,828,779 6,151,528 56,554 8,036,861
CHARITY
ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Designated Restricted Total
funds funds funds
CURRENT YEAR £ £ £ £
Fund balances at 31 March 2025 are represented by:
Tangible fixed assets - 5,219,147 - 5,219,147
Investments - 1,070,100 - 1,070,100
Current assets 3,831,343 120,617 56,554 4,008,514
Creditors: amount falling due within one year (1,620,106) - - (1,620,106)
Creditors: amount falling due after more than one year (36,322) - - (36,322)
Defined benefit pension - - - -
2,174,915 6,409,864 56,554 8,641,333
COMPARATIVE YEAR Unrestricted Designated Restricted Total
funds funds funds
£ £ £ £
Fund balances at 31 March 2024 are represented by:
Tangible fixed assets - 5,261,235 - 5,261,235
Investments - 1,070,100 - 1,070,100
Current assets 3,297,921 120,617 56,554 3,475,092
Creditors: amount falling due within one year (1,436,916) - - (1,436,916)
Creditors: amount falling due after more than one year (36,322) - - (36,322)
Defined benefit pension - - - -
1,824,683 6,451,952 56,554 8,333,189

33

INSPIRE COMMUNITY TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025

22 RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income/(expenditure) for year 317,310 296,814
Interest and investment income receivable (43,094) (24,416)
Depreciation of tangible fixed assets 132,684 182,328
Amortisation of goodwill 29,571 29,571
Loss on disposal of fixed assets - -
(Increase)/decrease in stock 45,036 2,348
(Increase)/decrease in debtors 595,948 563,618
Increase/(decrease) in creditors (148649) (147,528)
Net cash flow from operating activities 358,806 902,735
At 1 April Non-cash At 31 March
**23 ** ANALYSIS OF CHANGES IN NET DEBT 2024 Cash flow changes 2025
£ £ £ £
Cash at bank and in hand 1,681,444 325,925 - 2,007,369
Bank overdrafts - - - -
1,681,444 325,925 - 2,007,369
24 FUTURE COMMITMENTS
Operating leases
Total future minimum lease payments under non-cancellable operating leases are as follows:
Group Land and buildings Other
2025 2024 2025 2024
restated
£ £ £ £
Within one year 13,451 13,451 21,805 22,376
Between two and five years 53,804 53,804 69,366 82,305
In over five years 1,437,414 1,437,414 12,122 25,723
1,062,629 1,504,669 130,293 130,404
Charity Land and buildings Other
2025 2024 2025 2024
£ £ £ £
Within one year 13,451 13,451 13,244 13,990
Between two and five years 53,804 53,804 52,896 55,294
In over five years 995,374 1,437,414 12,122 25,723
1,062,629 1,504,669 78,262 95,007

34

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

INSPIRE COMMUNITY TRUST

25 RELATED PARTIES

During the year, the Trust rented a room at its premises to Ranjit Bhamra (Trustee) at a value of £4,800 per annum. During the year the income amounted to £4,800 (2024: £9,600).

The Trust also rented out a room to a close family member of a key management personnel. Rental income of £8,000 (2024: £8,000) was received during the year.

The Trust has a number of transactions with its subsidiaries.

From the Trust:
Recharge of costs
Amounts owed from/(to):		 Inspire
Medicare Ltd
£
2,267,527
(1,678,261)		 Blossoms
Care Home Ltd
2025 Total
£
£
-
2,267,527
2,063,002
384,741

26 CAPITAL COMMITMENTS

CAPITAL COMMITMENTS
The charity had capital commitments at the year end as follows:
Maidstone Road		 2025
2024
£
£
54,000
77,019
54,000
77,019

35