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← Vincentian Care Plus

2024-03-31-accounts

Vincentian Care Plus Annual Report and Financial Statements

31 March 2024

Company Limited by Guarantee Registration Number 05321333 (England and Wales) Charity Registration Number 1112473

Contents

Reports

Reports
Reference and administrative details of
the charitable company, its Trustees and
advisers 1
Trustees’ report 2
Independent auditor’s report 16
Financial statements
Statement of financial activities 20
Balance sheet 21
Statement of cash flows 22
Principal accounting policies 23
Notes to the financial statements 27

Vincentian Care Plus

Reference and administrative details of the charitable company, its Trustees and advisers

Trustees Mr Glen Von Malachowski (Chair) Mr Mark Hibberd Mr Damian Dowling Sister Marie Raw Mr Nigel Turner CEO/Registered Manager Ms Cathy Naigow Registered Office 14 Buckingham Palace Road London SW1W 0QP Company Registration Number 05321333 (England and Wales) Charity Registration Number 1112473 Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers CAF Bank 25 Kings Hill West Mailing Kent ME19 4JQ Solicitors Womble Bond Dickinson LLP 4 More London Riverside London SE1 2AU

Vincentian Care Plus 1

Trustees’ report 31 March 2024

The Trustees present their statutory report together with the financial statements of Vincentian Care Plus (VCP) for the year ended 31 March 2024. The report has been prepared in accordance with Part 8 of the Charities Act 2011 and constitutes a directors’ report for the purposes of company legislation.

The financial statements have been prepared in accordance with the accounting policies set out on pages 23 to 26 and comply with the charitable company’s memorandum and articles of association, applicable laws 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 United Kingdom and Republic of Ireland (FRS 102).

Constitution

Vincentian Care Plus is a company limited by guarantee (Company Registration No. 05321333 (England and Wales)) and a registered charity (Charity Registration No. 1112473). The charitable company is governed by its memorandum and articles of association.

DCSVP Services is the sole member of the charitable company and thus its parent entity. DCSVP Services is a registered charity (Charity Registration Number 1149326) and a company limited by guarantee (Company Registration Number 07638065 (England and Wales)), set up by the Daughters of Charity of St Vincent de Paul, to safeguard the Vincentian ethos in various projects such as Vincentian Care Plus.

Liability of members

The charitable company is constituted as a company limited by guarantee. In the event of the charitable company being wound up, the member is required to contribute an amount not exceeding £1.

Principal aim and activities

The principal aim of the charitable company in the year under review was to assist those in need of home care by the provision of a home care visiting service.

Vincentian Care Plus is a home care agency committed to delivering quality care, support, and befriending to people in their own homes. It is registered with the Care Quality Commission (CQC).

The values, spirit, and ethos of VCP are taken from the teachings, example and legacy of St Vincent de Paul and St Louise De Marillac, Christian and social reformers who together founded the religious congregation known as the Daughters of Charity of St Vincent de Paul. They believed practical action balanced with gentle kindness and attentiveness to the little details would make the lives of poor and vulnerable people a little easier. Over the years they have inspired many ordinary people to volunteer their time and their talents to support and befriend lonely and isolated people.

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Our Vision

Our Vision is that people matter!

Here at Vincentian Care Plus we believe in the uniqueness, contribution, and value of older people in our society today.

In order to achieve this vision, we provide personal care and support in a safe, effective, compassionate, and respectful way.

Our Mission

Our Mission is to:

Our Mission Statement

Vincentian Care Plus provides a domiciliary care service for people who by reason of age, infirmity, disability, or illness are unable to provide it for themselves thus enabling older people to live independently in their own homes.

Achievements and performance

Executive summary

Where we are coming from

Vincentian Care Plus (VCP) has undergone a significant transformation, emerging from a period of reputational and regulatory challenges to reaffirm its commitment to providing exceptional domiciliary care. In 2018-2019, the organisation undertook a strategic overhaul to realign with the values of St. Vincent de Paul and The Daughters of Charity. This included revamping internal processes, improving organisational culture, and focusing on quality and compliance in response to historical deficiencies identified by the Care Quality Commission (CQC).

The initiatives outlined above have significantly enhanced VCP's operational efficiency and service quality. These improvements were recognised during the 2023-2024 financial yearend Evidence-Based Evaluation conducted by our stakeholder, Westminster City Council (WCC), as well as in the quarterly contract monitoring meetings, where VCP earned commendations for excellence.

Further showcasing its achievements, VCP received a High Commendation at the 2024 Home Care Awards in the "Best for Specialist Care Expertise" category. The organisation remains dedicated to upholding best practices and actively collaborates with stakeholders. A key example is VCP's participation in the Hospital Discharge Audit project, where we contribute valuable recommendations to WCC to help mitigate potential risks associated with discharged service users from hospital care.

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Achievements and performance (continued)

Where We Are at Present

Currently, VCP serves a diverse group of Service Users and leverages technology, such as the One Touch Healthcare System, to enhance service delivery and communication. The team, driven by the ethos of St. Vincent de Paul, remains committed to delivering personalized, professional, and dignified care. With the Westminster framework contract ending in November 2024, VCP is focused on strategically positioning itself for the retender process, ensuring sustained growth and future viability.

Where we are going

As Vincentian Care Plus (VCP) looks ahead, the organisation is strategically positioned for continued success, building upon recent accolades and a solidified foundation. VCP is confidently moving toward business diversification and the launch of innovative projects, such as Healthy4Longer in October 2024. This diversification of services is designed to reduce dependency on a single revenue stream, bolster resilience against competitive pressures, and navigate market challenges with agility.

Capitalizing on our strengthened platform and an unwavering commitment to excellence, VCP is poised to expand into new service areas, pursue strategic tender opportunities, and further refine our customer-centric approach. These initiatives not only enhance the organisation’s ability to meet evolving community needs but also solidify VCP’s position as a leader in delivering exceptional care. By embracing innovation and adaptability, VCP is set to ensure long-term financial sustainability and continue serving as a model of excellence in the care sector.

Most importantly will continue to prioritize Regulatory Compliance and Advocacy (i.e. CQC, NICE & Local Government) while also advocating for policies that support the growth and sustainability of domiciliary care services and charities.

Process

The process of making improvements to the Well Led CQC rating has included the implementation of One Touch systems to support the delivery of care. One Touch System Care is a homecare management solution designed to give better visibility over the care and support aspect of vulnerable adult client groups to live happily at home. This system illustrates VCP’s clear vision and credible strategy to deliver high-quality care and support, promoting a positive culture that is person-centred, open, inclusive, empowering and to evaluate and learn from mistakes. It is a way to continuously learn, improve, innovate, and ensure sustainability, and enable the service to work in partnership with next of kin, friends, relatives, health professionals and other agencies.

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Achievements and performance (continued)

Process (continued)

Key operational and process-focused improvements have included:

Sub-contractor relationship

VCP continues to work closely with the sub-contractor, Verilife, to minimise disruption and ensure a smooth partnership and communication flow. The weekly meetings continue to establish and foster improved dialogue on strategic as well as operational issues.

Recruitment and training

We are proud of our diverse workforce from all walks of life (ethnicity, religions, age, socioeconomic backgrounds), all of whom have a passion for looking after others and with the ability to provide customer care and an understanding of our service users’ needs, how to meet them and how to apply these skills actively in their roles.

We have sourced specialist training from reputable training provider Norman Mark, which not only accommodates the bespoke culture of the charity but is cost effective and accommodates more attendees. Training courses include:

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Achievements and performance (continued)

Recruitment and training (continued)

VCP has a mandatory induction training programme in place which lasts for five days, and it covers the 15 standards of care for new staff. All VCP care workers have completed the care certificate.

Annual refresher training is given for the key standards and principles of care, including safeguarding, medication and moving and handling.

In addressing improvements needed in the “well led” domain of the 2019 CQC report, VCP recognised the need to address care staff actions in the field immediately, in addition to establishing a more comprehensive and regularly audited database of all staff training. A comprehensive training matrix has been established and implemented which both identifies which training has been completed and alerts when it is due, in order to ensure that staff are operating in accordance with the latest guidance and best practice.

There is vigorous management in place for supervision and training to identify areas for development: for example, two key office staff have been trained to be Dementia Champions; care staff have been upskilled to undertake risk assessments and spot checks (senior care workers); there are opportunities to undertake short courses; and enrolment onto the Qualifications and Credit Framework (QCF) and National Vocational Qualifications (NVQs) is encouraged.

Each new employee needs to shadow an existing senior or upskilled carer in the field for a minimum of three days.

Staff competency is under constant review through one-to-one medication competency assessments with a field care supervisor.

There are reactive workshops to assess staff competency: e.g. case studies regarding medication errors and lessons learned and open floor discussion of current events regarding social care in the media.

Financial review

Results for the year

A summary of the charity’s income and expenditure can be found on page 20 of the attached financial statements.

For the year ended 31 March 2024 the total income for the year amounted to £3,006,923 (2023 - £2,417,545) and included donations and grants of £102,043 (2023 - £28,014) and fees receivable of £2,889,248 (2023 - £2,386,064).

During the year, total expenditure amounted to £2,893,801 (2023 - £2,285,351) including £2,584,773 (2023 - £2,010,004) in relation to staff costs.

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Financial review (continued)

Reserves and financial position

The Trustees have examined the requirement for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, or otherwise committed. The Trustees consider that, given the nature of the work undertaken at Vincentian Care Plus, the level of free reserves should be approximately equal to between three- and six-months’ recurring expenditure. The Trustees are of the opinion that this level of reserves should provide sufficient flexibility to cover temporary shortfalls in income due, for example, to falls in service levels.

General funds at 31 March 2024 were £807,301 (2023 – £687,517). The Trustees accept that the financial position of the charity needs improving, and the amount of general funds is at the lower end of the reserves policy, at approximately 3.35 months. The Trustees know that the next few years will be challenging. There is a need to ensure that the charity continues to improve its processes and controls with a view to fulfilling the requirements of the Care Quality Commission, thereby retaining the confidence of Westminster City Council, and demonstrating that it can continue to deliver a quality domiciliary care service. This will need to be done alongside the requirement for VCP to continue to implement robust and careful budgeting and monitoring of cash flow.

The financial performance of the charity is dependent on it being able to meet consistently the targets set out within its contractual agreement with Westminster City Council and on the funding climate for care services generally. In particular, the charity’s finances are impacted directly by the number of service users referred or transferred to it by Westminster City Council and on the contract price paid. The Trustees remain cautiously optimistic that the charity can meet the challenges presented and slowly build up its level of free reserves over time.

Future Developments

Looking ahead, Vincentian Care Plus is set for continued success and growth. Energised by our recent High Commendation at the prestigious 2024 Home Care Awards, the organization is ready to tackle future projects with renewed confidence and conviction. With a reinforced foundation and an unwavering commitment to quality, Vincentian Care Plus is well-positioned to further enhance its impact and exemplify exceptional care provision in the years to come.

As VCP aims to expand its services into accommodation-based/supported living care and support, Non-Regulated Service Provision, we are embarking on a project in Hammersmith & Fulham in partnership with Look Ahead, building on the successful implementation of the Enhanced Home Care Service at Edward Alsop Court (EAC) in the City of Westminster. Additionally, VCP plans to change the job title from "care worker" to "support worker" for staff at EAC. We are also considering simplifying the recruitment process to acknowledge new recruits with valuable skills and experience from outside the care industry.

Business Diversification

Vincentian Care Plus has begun to explore opportunities for diversification for the business. Diversifying the service offerings can help reduce reliance on a single revenue stream and enhance resilience against competitors and market challenges.

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Future Developments (continued)

Expansion into New Service Areas

Recognising the potential for growth in specialised care areas, VCP will assess market demand and feasibility studies to identify opportunities for expansion. This may involve launching new services tailored to specific demographics, such as, brain injury, dual diagnosis, dementia care, and palliative care.

Pursuing Tender Opportunities

Customer-Centric Approach

Vincentian Care Plus will continue to prioritize Service User satisfaction and engagement by actively seeking feedback and promptly addressing concerns with a “Lessons learned” approach. Building strong relationships with Service Users and their support networks enhances loyalty and drives private business and referrals.

Financial Sustainability

Key actions will be to:

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Future Developments (continued)

Upskilling existing care worker roles to support worker duties in EAC

VCP is currently developing all care staff roles in EAC to include aspects which go beyond the traditional care worker role, and will include more outcome based, planning of care and support, involvement in healthcare issues, behaviour support and advocacy. This is aimed at forging positive perceptions of the workforce, enhancing the job description and pay to reflect service users’ needs and make the sector more appealing to young people/individuals who will see the role as a career as opposed to a stop gap. The industry needs to refrain from referring to nonmedical or personal care providers as “unskilled” workers.

Simplifying the recruitment process

VCP has come to recognise that new recruits may bring valuable expertise and skills gained from outside traditional or formal care roles. This may be from personal experience, from working in customer-facing roles in other sectors, volunteering, etc. - and from personal attributes such as a compassionate and caring orientation. We plan to simplify our recruitment procedures and welcome new recruits from diverse backgrounds.

Despite the recent introduction of migrant sponsorship in domiciliary care, the pressures on the industry have not changed significantly, and it is not wise to rely on it as a solution to the workforce crisis.

Migrant sponsorship is a finite resource like furlough, and the industry is facing an overwhelming message that the workforce is the most significant issue currently and for the foreseeable future. There is a crisis in attracting, recruiting, and retaining essential workers which poses a significant challenge to the industry, and this challenge is likely to persist in the future.

Feedback from various joint provider meetings indicates that the industry must address the workforce issue as a priority. The work can be physically and emotionally demanding, and the wages are often low, leading to a high turnover of staff. The lack of available funding for providers also creates a significant barrier for businesses to grow and expand.

Steps for Business Growth:

Invest in Staff Development: VCP continues to provide staff with training and development opportunities to improve their skills and job satisfaction, which impacts staff retention.

Wages increase: VCP has recently increased the care worker hourly rates from £12.10 to £13.15 Monday to Sunday (flat rate). The increase in wages will ideally attract and retain staff, improve morale, and enhance the quality of services provided.

Implement Technology: We have recently implemented a new rostering system and based on our experience, the use of technology streamlines processes, reduces paperwork, and improves communication between staff and service users.

Diversify Service Offerings: Diversifying service offerings can create new revenue streams, provide more comprehensive care options, and reduce reliance on a single funding source.

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Future Developments (continued)

Steps for Business Growth (continued)

Conclusion: In conclusion, the pressures facing the business have not changed significantly, and the aforementioned highlights the proactive steps management is taking to address them. Investing in staff development, increasing wages, improving technology, diversifying service offerings, and advocating for funding are all important strategies for VCP to grow and move forward in the industry.

Governance, structure, and management

Trustees

The Trustees constitute directors of the charitable company for the purposes of company legislation.

The following Trustees served during the year and up to the point of approval of the accounts:

Trustee

G Von Malachowski M Hibberd D Dowling Sister M Raw N Turner

No Trustee received any remuneration from the charitable company during the year. No out of pocket travelling expenses were reimbursed to Trustees during the year. No Trustee had any beneficial interest in any contract with the charitable company during the year. Brief biographical details of each Trustee serving at 31 March 2024 are given below:

Glen Von Malachowski

Glen Von Malachowski is an experienced Executive Director within the health and social care sector, with extensive experience in the private, public and third sectors. He has a particular passion for growing businesses in line with key strategic opportunities. As a trained Social Worker, Glen worked for many years in education before moving into business management and strategic development within organisations specialising in acquired brain injury and people with learning disabilities and complex health needs. Glen currently is a Trustee for two charitable organisations, the Chairman of a third and the Non-Executive Director/Chairman of a fourth.

Mark Hibberd

Mark Hibberd was born in London at Westminster Hospital on 15 November 1961. His early schooling was at St Gabriel's Primary School and at Westminster City School. He then did a history degree at the School of Slavonic East European Studies, part of the University of London. Having worked part-time, he joined John Lewis full-time in 1984 and continued to work at the flagship Oxford Street store until the summer of 2011. After leaving John Lewis he acted as full-time carer for his mother Patricia who suffered with Alzheimer’s disease. Sadly, she passed away in 2020. He is currently acting as carer for his father. His interests include travel, skiing, swimming, listening to music and reading. He enjoys watching live football where possible, being a supporter of Chelsea Football Club, and meeting up with friends.

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Governance, structure, and management (continued)

Trustees (continued)

Damian Dowling

After graduating from Trinity College with a Masters in Science, Damian moved from his home city of Dublin to the UK. Initially working as an Environmental Scientist, his background allowed for a diverse energy and sustainability career – from Geophysicist to Sustainability Management - over the next 15 years. Even though that experience was grounded on the technical, Damian naturally progressed to a consultative approach on new and existing developments. Later completing a Masters in Psychology, Damian’s approach to engagements is lived through a sustainable lens, where operational, human centric and commercial pillars are addressed equally. Now leading the Logistics Segment (UK and Ireland) for Schneider Electric, Damian works with stakeholders and partners to develop an energy efficient future. Outside of work, Damian is a keen volunteer, holding Board level positions in educational and social outreach charities over the years. Those years offered a large networking base, key governance experience and a central government and NGO footprint. Positions included the Director of Young Professionals for the Petroleum Exploration Society of Great Britain (PESGB), Chair of Sustainability for the Institute of Workplace and Facilities Management (IWFM) and Head of Business & Resident Liaisons for Pride in London (PiL). During the pandemic, Damian concentrated on community mental and physical health by volunteering as a Crisis Counsellor with SHOUT and as a vaccinator with St John Ambulance.

Sister Marie Raw

Sister Marie Raw joined the Daughters of Charity in 1965. She already had her Teaching Qualification and Diploma to teach deaf children, and spent 30 years in education, including six years as Head Teacher. For a further six years she held the post of Financial Director at the Marillac Nursing Home in Warley, Brentwood and in 2004 completed an Honours Degree in Business Studies. In 2002 she was appointed to the Provincial Council, using her planning and organisational skills for the benefit of the Community in its design and vision for the future. Sister Marie was appointed Provincial in June 2008, a role she held until 2015, when she was elected as a General Councillor of the Daughters’ of Charity and relocated to Paris. She returned to Britain in 2021.

Nigel Turner

Nigel has led charitable enterprises which provide social care and support for people with learning disabilities, people with long-term mental health support needs, and older people. Most notably, he was Chief Executive of a social care provider for 18 years, taking the charity from an organisation running two care homes to managing a diverse range of services across five London boroughs. Nigel holds a Diploma in Company Direction from the Institute of Directors and takes a particular interest in charity governance. He has served as Deputy Chair of a local authority trading company providing housing and social care, and as Deputy Chair of a grant-making charity which aims to reduce health inequalities in Great Britain. Currently he chairs a charity which offers training to support people to self-manage their long-term health conditions, and which promotes self-management more generally .

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Governance, structure, and management (continued)

Key management personnel

The key management personnel of the charity during the year were the Trustees and Registered Manager. The Registered Manager is responsible for the day-to-day management of the Service and since 2019 has been executing additional duties of Chief Executive Officer and is accountable to the Trustees.

Statement of Trustees’ responsibilities

The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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.

Each of the Trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

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Governance, structure, and management (continued)

Statement of Trustees’ responsibilities (continued)

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Public benefit

The Trustees confirm that they have complied with their duty under Section 17 of the Charities Act to have regard to the public benefit guidance published by the Charity Commission. This report includes a detailed description of the activities undertaken by the charity during the year to further its charitable purpose for the public benefit.

The assistance given to our service users is proportionate to their needs. Trustees complete an annual declaration of conflict of interest. The Trustees have planned VCP activities to avoid the granting of any private benefit other than one that is purely incidental to carrying out VCP objectives. They believe they have followed the Charity Commission’s guidance in this area.

Risk management

In line with the requirement for the Trustees to undertake a risk assessment exercise and report on the same in their report, key management (including the Trustees) look at the risks the charity currently faces and review the measures already in place, or needing to be put in place, to deal with them. Five main areas have been identified where risk may occur:

Governance and management: VCP had faced historical challenges with regards to compliance with the regulatory body CQC. Since overcoming this obstacle, VCP has had to face the challenge of the COVID-19 pandemic. However, the challenges presented during this period and coming out from the worldwide crisis have since shifted. Balancing the organisation’s underpinning values/vision with the reality of high inflation/cost of living, workforce capacity and company-wide morale has become more of a significant priority/risk.

Operational looks at the risks inherent in the charity’s activities including engaging in inappropriate activities and shortcomings in the service provided, difficulties with staff, poor health and safety, etc.

Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, inappropriate investment policies etc.

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Governance, structure, and management (continued)

Risk management (continued)

Reputation looks at possible damage to the charity’s reputation.

Laws, regulations, external and environment look at the effects of government policies and the consequences of non-compliance with laws and regulations.

The Trustees regularly evaluate the major risks facing the charity, supported by an established risk register. This register is used to identify potential issues and outline mitigation strategies, which are periodically reviewed to ensure that effective risk management systems are in place. During this financial year, the Trustees have identified the following risks as the most concerning:

However, VCP now faces an urgent need to expand its care staff to meet the current recruitment demands within the social care sector. Insufficient staffing levels could impede VCP's ability to deliver essential services, potentially causing distress to service users and their families. Moreover, failure to meet staffing requirements may result in the issuance of a default notice by Westminster City Council, should it be determined that VCP is unable to fulfil the needs of service users in the Westminster area.

VCP has a policy on the safeguarding of vulnerable adults and children. The charity takes responsibility for identifying, preventing, investigating, and responding to all allegations or incidents of abuse. If service users believe that they are subject to abuse of any kind, they are encouraged to speak to a member of staff or volunteer at VCP or to an external advocate. Risk assessments, environmental risk, needs assessments and care & support plans are implemented and agreed with service users.

All VCP staff and volunteers must undergo a full DBS check. However, there are some minor delays in obtaining DBS clearances, but this does not affect the process.

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Governance, structure, and management (continued)

Risk management (continued)

Since inception, VCP has worked hard at developing a reputable service, but this always demands constant attention from every member of the charity. Reputation can be lost very easily and be well-nigh impossible to rebuild.

Fundraising policy

The charity aims to achieve best practices in the way in which it communicates with donors and other supporters. It takes care with both the tone of its communication and the accuracy of its data to minimise the pressures on supporters. It applies best practices to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity does not employ the services of professional fundraisers. The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year, the charity received no complaints about its fundraising activities.

Concern for the environment

We continue to recycle waste and reduce energy consumption by being careful to switch off equipment and lights.

Approved by the Trustees and signed on their behalf by:

Glen Von Malachowski

Trustee

Approved by the Trustees on: 14 October 2024

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Independent auditor’s report to the member of Vincentian Care Plus

Opinion

We have audited the financial statements of Vincentian Care Plus (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies, and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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 auditor’s 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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 other information comprises the information included in the Annual Report, including the Trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report and financial statements. 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.

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Other information (continued)

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 course of 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities set out on page 12, 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.

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Auditor’s responsibilities for the audit of the financial statements

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 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

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Auditor’s responsibilities for the audit of the financial statements (continued)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's member those matters we are required to state to it in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's member, for our audit work, for this report, or for the opinions we have formed.

Peter Mackereth (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

18 October 2024

Vincentian Care Plus 19

Statement of financial activities (including income and expenditure account) Year to 31 March 2024

Notes
Un-
restricted
funds
£		 Restricted
funds
£		 2024
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2023
Total
funds
£
Income from:
Donations and grants
1
Bank interest
Fees receivable for home
care visiting service
Other income
Total income
Expenditure on:
Charitable activities
. Provision of a home care
visiting service
2
Total expenditure
Net income (expenditure)
and net movement in funds
6
Reconciliation of funds:
Fund balances brought
forward at 1 April 2023
Fund balances carried
forward at 31 March 2024
—
15,501
2,889,248
131		 102,043
—
—
—		 102,043
15,501
2,889,248
131		 —
3,467
2,386,064
—		 28,014
—
—
—		 28,014
3,467
2,386,064
—
2,904,880 102,043 3,006,923 2,389,531 28,014 2,417,545

2,785,096		 108,705 2,893,801 2,244,474 40,877 2,285,351
2,785,096 108,705 2,893,801 2,244,474 40,877 2,285,351

119,784
687,517		 (6,662)
6,662		 113,122
694,179		 145,057
542,460		 (12,863)
19,525		 132,194
561,985
807,301 — 807,301 687,517 6,662 694,179

All of the charity’s activities derived from continuing operations during the above two financial years.

All recognised gains and losses are included in the above financial activities.

Vincentian Care Plus 20

Balance sheet 31 March 2024

Notes 2024
£		 2023
£
Fixed assets:
Tangible assets
8
Current assets:
Debtors
9
Cash at bank and in hand
Total current assets
Current liabilities:
Creditors: amounts falling due within one year
10
Net current assets
Total net assets
Represented by:
The funds of the charity
Restricted funds
Unrestricted funds
. General funds		 11,350 4,738
136,553
841,754		 295,146
531,507
978,307
(182,356)		 826,653
(137,212)
795,951 689,441
807,301 694,179
—
807,301		 6,662
687,517
807,301 694,179

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the Trustees and signed on their behalf by:

Glen Von Malachowski

Trustee

Approved on: 14 October 2024

Vincentian Care Plus

Registered Company Number: 05321333 (England and Wales)

Vincentian Care Plus 21

Statement of cash flows Year to 31 March 2024

Notes
2024
£


322,324


(13,059)
982
(12,077)


—
—

310,247

531,507


841,754		 2023
£
82,257
(3,130)
—
(3,130)
(50,000)
(50,000)
29,127
502,380
531,507
Cash flows from operating activities:
Net cash provided by operating activities
A
Cash flows from investing activities:
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Repayment of loan
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2023
B
Cash and cash equivalents at 31 March 2024
B

Notes to the statement of cash flows for the year to 31 March 2024.

A Reconciliation of net movement in funds to net cash provided by operating activities

2024
£		 2023
£
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation charge
Increase (decrease) in debtors
Increase in creditors
Net cashprovided by operating activities		 113,122
5,465
158,593
45,144		 132,194
3,524
(65,907)
12,446
322,324 82,257

B Analysis of cash and cash equivalents

B Analysis of cash and cash equivalents
C 2024
£
841,754
Cash flows
£
310,247
310,247		 2023
£
Total cash and cash equivalents:
Cash at bank and in hand		 531,507
Analysis of change in net debt 2023
£
531,507
531,507		 2024
£
Cash at bank and in hand
Balance at 31 March		 841,754
841,754

Vincentian Care Plus 22

Principal accounting policies 31 March 2024

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2024 with comparative information given in respect to the year to 31 March 2023.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with the principles set out in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates.

The main judgements and estimates applied in these financial statements relate to:

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.

Vincentian Care Plus 23

Principal accounting policies 31 March 2024

Assessment of going concern (continued)

The Trustees accept that the financial position of the charity needs improving and the amount of general funds is at the lower end of the reserves policy, at approximately 3.35 months’ expenditure. The Trustees know that the next few years will be challenging. There is a need to ensure that the charity continues to improve its processes and controls with a view to fulfilling the requirements of the Care Quality Commission, thereby retaining the confidence of Westminster City Council, and demonstrating that it is able to continue to deliver a quality domiciliary care service. This will need to be done alongside the requirement for VCP to continue to implement robust and careful budgeting and monitoring of cash flow.

The financial performance of the charity is dependent on it being able to meet consistently the targets set out within its contractual agreement with Westminster City Council and on the funding climate for care services generally. In particular, the charity’s finances are impacted directly by the number of service users referred or transferred to it by Westminster City Council and on the contract price paid. However, assuming that VCP can continue to retain its “Good” CQC rating, the Trustees remain cautiously optimistic that the charity can meet the challenges presented and slowly build up its level of free reserves over time.

The Trustees are of the opinion that VCP will have sufficient resources to meet its liabilities as they fall due, and that the charity is a going concern.

Income recognition

Income is recognised in the year in which the charitable company is entitled to receipt and the amount can be measured with reasonable certainty and it is probable that the income will be received. Income comprises donations, legacies and fees receivable for home care visiting services.

Donations and grants are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations and/or grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting year.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Fees receivable for home care visiting services are accounted for on an accruals basis. Income is recognised at fair value when the charity becomes entitled to the funds under its contractual agreements. Where the charity has subcontracted an element of the services, the amounts subcontracted for are recognised as income, with corresponding costs for the subcontractor, where the charity is acting as principal. Where the charity does not have exposure to the risks and rewards associated with this delivery, the charity only recognises the management fee it earns for facilitating the arrangement. The charity considers the substance of the arrangement over its legal form when determining which treatment is most appropriate.

Vincentian Care Plus 24

Principal accounting policies 31 March 2024

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and relates to furthering the charitable purposes of the charity through the provision of a home care visiting service.

Governance costs are associated with the governance arrangements of the charitable company and include audit costs and the necessary legal procedures for compliance with the statutory requirements.

All expenditure is stated inclusive of irrecoverable VAT.

Tangible fixed assets

All assets with an expected useful life exceeding one year are capitalised.

Computer equipment

Expenditure on the purchase of computer equipment is capitalised and depreciated on a straight-line basis over a four-year period.

Furniture and fittings

Expenditure on the purchase and replacement of furniture and fittings is capitalised and depreciated on a straight-line basis over a four-year period.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Vincentian Care Plus 25

Principal accounting policies 31 March 2024

Fund structure

General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charitable company’s charitable objects.

Restricted funds comprise monies received for, or their use restricted to, a specific purpose, or contributions subject to donor/funder imposed conditions.

Leased assets

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the term of the lease.

Pension contributions

Contributions in respect to the defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. Contributions are restricted to the contributions disclosed in note 4. There were £10,069 outstanding contributions at the year-end (2023 – £6,547). The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Vincentian Care Plus 26

Notes to the financial statements 31 March 2024

1 Income from: Donations and grants

Income from: Donations and grants
Unrestricted
funds
£		 Restricted
funds
£		 2024
Total
funds
£


Unrestricted
funds
£		 Restricted
funds
£


2023
Total
funds
£
Donations
. Westminster Foundation
. Other
Grants
. Westminster City Council - MSIF
Total funds		 —
—
—		 10,684
—
91,359		 10,684
—
91,359
—
—

—
10,684
11,500
5,830
10,684

11,500

5,830
— 102,043 102,043
—
28,014
28,014

2 Expenditure on: Provision of a home care visiting service

Unrestricted
funds
£


Restricted
funds
£		 2024
Total
funds
£		 Unrestricted
funds
£


Restricted
funds
£		 2023
Total
funds
£
Staff costs (note 4)
Other staff related costs
Premises costs
Welfare costs
Management and support
systems
Governance costs (note 3)
Office and other costs
Total funds		 2,493,414
56,235
83,192
25,638
44,943
7,872
73,802		 91,359
6,662
10,684
—
—
—
—		 2,584,773

62,897
93,876
25,638
44,943
7,872
73,802		 1,992,674
36,453
63,694
39,746
57,562
6,120
48,225
17,330

12,863
10,684
—
—
—
—		 2,010,004

49,316
74,378
39,746
57,562
6,120
48,225
2,785,096 108,705 2,893,801 2,244,474
40,877		 2,285,351

3 Governance

Unrestricted Unrestricted
2024
Total
funds
£		 2023
Total
funds
£
Auditor’s remuneration 7,872 6,120

4 Staff costs and remuneration of key management personnel

Staff costs and remuneration of key management personnel
2024
Total
funds
£		 2023
Total
funds
£
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2,347,721
198,268
38,784		 1,822,892
153,371
33,741
2,584,773 2,010,004

The average number of employees during the year was 104 (2023 – 92).

No employees earned £60,000 per annum or more (including taxable benefits but excluding employer’s pension contributions) during the year to 31 March 2024 (2023 – none).

Vincentian Care Plus 27

Notes to the financial statements 31 March 2024

During the year, the key management personnel of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis comprised the Trustees, and the Registered Manager. The total remuneration (including taxable benefits and employer’s pension contributions) of key management personnel for the year was £62,171. (2023 - £56,949).

5 Trustees’ remuneration

None of the Trustees received remuneration in respect of their services during the year (2023 - £nil). No Trustee received reimbursement of expenses during the year (2023 – £nil).

6 Net income (expenditure) and net movement in funds

Net income (expenditure) and net movement in funds
2024
Total
funds
£		 2023
Total
funds
£
This is stated after charging:
Staff costs (note 4)
Depreciation (note 8)
Operating lease charges
Auditor’s remuneration
. Statutoryaudit		 2,584,773
5,465
98,642
7,140		 2,010,004
3,524
81,720
6,120

7 Taxation

Vincentian Care Plus is a registered charitable company and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

8 Tangible assets

Tangible assets
Computer
equipment
£		 Furniture
and
fittings
£		 Total
£
Cost
At 1 April 2023
Additions
On disposal
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
On disposal
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023		 12,732
12,501
(5,295)		 1,364
558
—		 14,096
13,059
(5,295)
19,938 1,922 21,860
8,734
4,985
(4,313)		 624
480
—		 9,358
5,465
(4,313)
9,406 1,104 10,510
10,532 818 11,350
3,998 740 4,738

Vincentian Care Plus 28

Notes to the financial statements 31 March 2024

9 Debtors

Debtors
2024
£		 2023
£
Fees receivable
Other debtors		 134,170
2,383		 294,400
746
136,553 295,146

10 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2024
£		 2023
£
Wages, social security and other taxes
Sundry creditors and accruals		 169,810
12,546		 126,698
10,514
182,356 137,212

11 Restricted funds

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

At 1
April
2023
£		 Income
£		 Expenditure
£
At 31
March
2024
£
Rent fund
Staff costs fund
Migrant sponsorship fund		 —
—
6,662		 10,684
91,359
—		 (10,684)
(91,359)
(6,662)		 —
—
—
6,662 102,043 (108,705) —
At 1
April
2022
£		 Income
£		 Expenditure
£
At 31
March
2023
£
Rent fund
Infection control fund
Workforce retention fund
Migrant sponsorship fund		 —
—
—
19,525		 10,684
5,830
11,500
—		 (10,684)
(5,830)
(11,500)
(12,863)		 —
—
—
6,662
19,525 28,014 (40,877) 6,662

Vincentian Care Plus 29

Notes to the financial statements 31 March 2024

12 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
£		 Restricted
funds
£		 2024
Total
funds
£
Fixed assets
Current assets
Creditors: Amounts falling due within one year		 11,350
978,307
(182,356)		 —
—
—		 11,350
978,307
(182,356)
807,301 — 807,301
Unrestricted
funds
£		 Restricted
funds
£		 2023
Total
funds
£
Fixed assets
Current assets
Creditors: Amounts falling due within one year
Creditors: Amounts falling due after one year		 4,738
819,991
(137,212)
—		 —
6,662
—
—		 4,738
826,653
(137,212)
—
687,517 6,662 694,179

13 Liability of member

The charitable company is constituted as a company limited by guarantee. In the event of the charitable company being wound up the company’s member would be required to contribute an amount not exceeding £1.

14 Operating lease commitments

At 31 March 2024, the charity had the following future minimum commitments under noncancellable operating leases in respect to land and buildings:

cancellable operating leases in respect to land and buildings:
2024
£		 2023
£
Amounts payable:
. Within one year
. Within one to two years
. Within two to five years		 66,654
49,990
—		 66,654
66,654
99,981
116,644 233,289

At 31 March 2024, the charity had the following future minimum commitments under noncancellable operating leases in respect to office equipment:

2024
£		 2023
£
Amounts payable:
. Within one year
. Within one to two years
. Within two to five years
Total		 14,352
3,588
—		 —
14,352
17,940
17,940 32,292

Vincentian Care Plus 30

Notes to the financial statements 31 March 2024

15 Related party transactions and parent undertaking

There are no related party transactions (2023 – none).

Vincentian Care Plus is a subsidiary of the Daughters of Charity of St Vincent De Paul Services, which prepares group accounts, including Vincentian Care Plus. The Daughters of Charity of St Vincent de Paul Services, a registered charity (Charity Registration Number 1149326) and a company limited by guarantee (Company Registration Number 07638065 (England and Wales)) is considered the ultimate controlling party of Vincentian Care Plus, as it is its sole member. This Control is normally exercised by the appointment of Trustees. Should the subsidiary drift away from its core mission, Daughters of Charity of St Vincent de Paul Services has the power also to remove the Trustees of the subsidiary.

The registered office address of the Daughters of Charity of St Vincent De Paul Services is St Vincent’s Centre, Carlisle Place, London, SW1P 1NL. The group accounts of the Daughters of Charity of St Vincent de Paul Services can be obtained from the registered office address. The principal purposes and activities of the Daughters of Charity of St Vincent de Paul Services are to safeguard and deepen the Vincentian character of, and provide support to, the charities within the group, including Vincentian Care Plus.

16 Agency arrangements

The below table details the fees receivable for home care visiting services where the charity has acted as agent rather than principal but has been administratively responsible for the provision:

provision:
2024
£		 2023
£
Balance owed to providers at 1 April
Add: Funds received as agent
Less: funds disbursed as agent
Less: management fee receivable
Balance owed toproviders at 31 March		 —
797,054
(773.142)
(23,912)		 —
621,234
(602,499)
(18,735)
— —

Vincentian Care Plus 31