REGISTERED COMPANY NUMBER: 05154613 (England and Wvdle5) REGISTERED CHARITY NUMBER: 1115319 Report of the Trustees and Financial Statements for the Year Ended 31 MAreh 2024 for North IA)ndon Adult C4re Ltd (A Company Llmlted by Guarantee) BBK Partnership Chartered Accountants & Statutory Auditors l Beauchamp Court 10 Victors Way Barnet Hertfordshire EN5 5TZ
North London Adult Care Ltd Contents of the Flnaneial Statements for the Year Ended 31 Mar¢h 2024 Page Report of the Trustees (IDcoryoratlng strategle ind dlrectors reports) Report of the Independent Audltor8 StY4t¢ment ofFinADela] Actlvldes Ststement ofFIDaDclal Posltlon io Statement of Caih FIoJY8 Notes to the Statement of C•sb Flo)v$ 12 Notes to the FlnaDelal StAtements 13 to 20 Detalled Statement of Flnanelal Actlvltles 21 to 22
North LondoD Adult Care Ltd (Rwstered number: 05154613) Report of the Tru8tee8 (Ineorporating strAteglc and dlreetors reports) for ihe Year Ended 31 March 2024 The Trustees present their report and the audited financial statements of th¥ charity for the year ended 31 MaTch 2024. The trustees have adopted the provisions of the Stalement of Recommended PTacti¢¢ (SOIITr) 'Accounting and Rq)orting by ChaTities" in preparing the annual report and financial statements of the charity. The financial statements have bttn prepared in accordan¢e with the accounting policies set out in notes to the aUnIS and comply with thc charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: ststement of Recommended Practice applicable to charities PTeparing their accounts in accordance with the Financial Rq)ortiT]g 8tandaTd applicable in the UK and Republic of treland publisheJ in October 2019. OWECTIVES AND ACTIVITIES Our Vlslon Our vision is of a community where people lead 8afe and indq)endent life. Our Mi8sloD Our mission is to assess needs and provide person-centred care to vulnerable adults in a community while promoting their saf¢ty alld active participation to achieve positive outcom¢$. Our VAlue$ We Care - We care about people and stand up for what is righl. We Respect - W¢ are open and honest and value people for who they ar¢. We Leam- We listen, we work togcthcr and we Continue to improve. We ad - We are experts at what we do and make good ide&s happen. ACTIVITIES We offer support to vulnerable adults with activilies of daily living by offering them Choices while meetin¥ their linguistic and culiurally specific requirement&. We support adults with mild leamin¥ difficulties, physical disability. dementia. mental health conditionb, sensory impairment, terminal illness and elderly. We offer support with personal care needs and a8SiSt adults with rnedication, meals preparation including feeding* shopping, dornesticti, laundry and escorting. We also offer car¢ workers during th¢ night such as for sleep-in or waking-night and sitting &CTvices to give respite to family carer'$. The charity believes that carerfs play a vital role in %upporting many disabled and older pcople OT thos¢ suffering from ill hcalth. Without their cfforts many more people would have to be accommodated in institutional Ca OT provided with a high level of staNiory service. CaT¢r'$ provide a posilive contribution to society and should be treated with respect and dignity. Fulld-ralslllg Standards Informatlon The charitable compatty does not engage in exIal fundraising as its primary source of income will bc derived from its provision of services. Publlc benetlt In setting out the objectives and planning the activitie4 the trustees have given careful consAderation to complying with the duty in 8ection 17 of the Charilies Act 2011 to have regard to the public benefit guidance published by the Charity Commission. STRATEGIC REPORT Achievement Ind performance Wc have a team of 45 care workers who support around 80 service users in the community in achieving their health and well-being outcornes, totalling approximalely 900 hours of care each w¢ek. To ensu carc workers hav¢ updated knowledge and skills we have amended our training policy to make somc of the esscntial training mandatory in every 12 months. Apart frorn offering online Iraining lo carc and office staff we a150 offer onsite training. We have supported 3 care workers in achicviDg QCF 3 in thi5 financial year. We supervis¢ Staff regularly and we have an audit plan in place to review our policy & procedures regularly. Page I
North London Adult Care Ltd (Registered number: 05154613)
Report of the Trustees (Ineorporatfing strategle and directors reports)
for the Year Ended 31 Mareh 2024
STRATEGIC REPORT
Day C•relDrop in Centre
We are working towards opening a Day Care Centre at our premises, 254 Bowes Roa(L N]12JH for low to mediurn
dcpendcncy service users. This would bc located on the ground flooT and the operational offices would bc on the first
floor of the new building. We believe this service will also benefit the local community groups and other agencieb
providing 8imilar services thal can use our Iraining facilities. The Day Centre proposal is fcasible as we already have
re workers who work for us seven days a week. The Day Centre timetable rota will also provide block hours for our
care workers as opposed to domiciliary care of 30 minutes to I hour at diffeTent locations. However due to Covid-19
little progress other than developing and oullined planning perniission from the council.
FiDaDclal review
The charity, with the aid of sound financial Management and the 8UPPOrt of both its management and stY4ff even in this
difficult time of post COVID 19 pandemic generated the total revenues of £873,374 for the year ending 31 March 2024.
Though the revenue generated this year is higher ihan the revenue generaled in the year 2023, NLAC still regards it as a
FKsilive outcome Considering many businass are struggling to cope following COVJD 19 Pandemic. However, to
generate more revenues in coming years we are now focusing on increasing our business volume by focusing more on
our Te¢niitment, which will allow us to support more services gers.
PrlndpAI fundfing sour¢e6
The principal funding sour¢e is now by way of provision of home care servicxs in Enfiel
North London Adult Care Ltd (Registered number: 05154613) Report of the Trnstees (Ineoryorydting strategic and directors reports) or the Year Ended 31 Mareh 2024 STRUCTURE, GOVERNANCE MAP4AGEMENr Governing document The charity is controlled by its governing document, a decd of trust, and constitutes a limited oompany, limited by guarantee, as d¢fined by the Companies Act 2006. The organisation is a charitablc cornpany limited by guardntee, incorporated on 15 Junc 2004 and registered as a Charity on 14 July 2006. The company was established under a Memorandum of As¥pociation which established the objects and powers of the company and 15 governed under its Articles of Association. tn the event of cornpany being wound up, members are required to contribute an amount not exceeding £1. Recruitment and Appointment of Management Commlttee The directors of thc cornpany are also charity trustees for the purpose of charity law and under the company's Articles known as members of the management committee. lJnder the requirements of Mernorandum and Articl¢s of Associatiot4 the mernbeTS of the Management Committee nominatcd by cbe member organisation arc appointed for period of three years after which they must be re-elected at the next Annual General Meeting. Management Committee is represented by six different organisdtions and five individual members. Each membeT of ihe Management committee is from a different prof¢ssional background and offers skills requir¢d for smooth and efficient strategic and operational planning. Organliatlonal structure North London Adult Care (NLAC) has a Management Committee of up to 12 members (tncluding Center Manager) who meet regularly and are responsible for the strategic direction, policy and overajl monitoring of the charity. Committee members come from a variety of professional backgrounds relevant to the Work of the charity. Trustee luductlon and TrAlnlng Most trustees ar¢ already familiar with the practical work of the charity having been volunteered for the charity for the last 10 years. Additionally, new trnstees have an induction meeting with Chairnian, Vice Chairman, Se¢retary & thc Treasurer before having a fonnal meeting with registered Manager and hislher staff which is aimed to familiaTise them with day to day operations, tactical & strategic planning. The trustees are encouraged to attend seminars and training opportunities on governance. The trustees are constantly looking for professional pcrsons to join the Board particularly with knowledge and expertise in Health and Social care, Human Resources and Fund Raising. A Team Away Day is arranged periodically to bring the Management Committee and all staff member8 together to ensure that all th¢ Committee members are aware of the operational & tactical issues concerning the charity. Team Away Day s0 gives an opportunity for Staff members to know Strategic Issues & the overall Aim & Vision of the Charity & agree on the Future Action Plan. Committee members get the opportunity to discuss what is expertcd of cach staff member & what can be done to improve Ihe efficiency of op¢ration, Related partles North London Adult Care Works in partnership witb other organisaiion8 narnely.. Enfield Bangladesh Welfare Association. Pragati Asian Woman's Association, Community Aid, Deq)- tndian 50 Plus Association (Enfield), Muslim community and education centre and Enfield Saheli ba8ed in the London Borough of Enfield. The representation of local organisations within this group ha5 proved invaluable to the charity in establishing improved links within Ihc cornmunity and providing effective home care service. Page 3
North IA)ndon Adult Care Lkd (Registered number: 05154613) Report of the Trnstees {lorpor¥4tillg strategic and directors reports) for the Year Ended 31 Marcb 2024 STRUCTURE, GOVERNANCE AND MAJIAGEMENT Risk man&gement The Management Committee ha5 conducted a review of the major risks to which the charity 15 cxposed. A risk system has been established and is updated at least annually. Where appropriate, systems or pro¢edur¢s have been established to mitigate the risks the Qharity faces. Significanl external riskt* to funding have led to the development of a strategic plan which will allow for thc diversification of fiJndin8 and activities. Internal control risks are minimised by the implementation of procedure% for authorisation of all transactions and projects. Procedure5 are ID place to ensure NLAC meets all the requiremenls of Health & Social Care A¢i 2008 (regulated Activities) Regulation 2014 and Care Quality Commission (Regists7tion) Regulations 2009. These procedures are regularly audited and reviewed by NLAC. Though we have eedS improvement, in one of the 5 Key Line of Enquiry, our oveTall rdting is 'Good'. We are Constantly reviewing our procedures to incorpordte good practices and are working towards achieving 'outstanding' rating in the next CQC inspection which is due anytime soon. REFERENCE AIYD ADMINISTRATIVE DETAILS Registered Company number 05154613 (England and Wales) Regi$t¢red Charlty number 1115319 Registered offl¢e 254 Bowes Road New Southgate London NII 2JH Trnstees BOARD OF TRUSTEESIDIRECTORS Mr T Shaikh (Chair) Mr R V Tailor (Vi¢e Chair) Mr A K A8rawal (Secretary) Mr J K Mandavia (Treasurer) Mr M B Rahman Mrs K T Pujara Mr A S Billoo Mrs R Hassan Mr B Solanki Mr K R Topiwgla Mr J P Patel Audltor8 BBK Partnership Chartered Accountants & Statutory Auditors l Beauchamp Court 10 Victors Way Barnet H¢rtfordshiTe EN5 5TZ TRUSTEES, RESPONSIBILITY STATEMEPIT The trustees (who arc also the directors of North tnndon Adult Care Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United KiT]gdom Accounting Standards (United Kingdorn Generally Accepted Accounting Pradicc) including Financial Reporting Standard 102 "The Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland" Page 4
North London Adult Care Ltd (Regtstered number: 05154613) Report of the Trustees (ineorporating 8trateglc and dlreetors reports) for the Yeydr Ended 31 March 2024 TRUSTEES, RESPOY4SIBILITY STATEMEN[ - continued Company law wuires the truste¢s to PTepare financial statements for each financial year which give a true and fair view of the state of affaiTS of the charitable company and of thc incoming resources and application of resources, including the incom¢ and expenditUTe, of the charitable company for that period. In preparing those finan¢ial statements, the trustees are required to select suitable a¢¢ounting policics &nd then apply thern consistentiyi observe the methods and principles in the Charity SORP. make judgement5 and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financial statements on thc going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping propcr accounting records which disclose with reasonable accuracy al any lime the financial p051tion of the charitabl¢ company and to enable ihem to ensure that th¢ financial statemcnts comply with the Companies Act 2006, They are also responsible for Safeguarding the assets of the charitable company and hence for taking rcasonable steps for the prevention and dctcction of fraud and other irregularities. In so far as the trustees are aware.. - there is no relevant audit information of which the charilable company's auditors arc unaware,. and the trustees have taken all yteps that they ought lo have taken to make ihemselves awarc of any relevant audit information and to establish that the auditors are aware of that information. STATEMENT AS TO DISCLOSURE OF INFORMATIOIY TO AUDITORS So far as the truslees are awaTC, there is no relevant Information (as defined by Section 418 of the Companies Act 2006) of which lh¢ charitable Company's auditors are unaware, and each trustee has tak¢n all the steps that they ought lo have taken as a trustee in order to make them aware of any audit infomiation and to establish ihal the charitable company's auditors are awarc of that information, AUDITORS The audiiors, BBK Partnership, offer themselveg for appointment in accordance with Section 485 of the Companies Act 2006. Report of the trusteeti, incorporating a stralcgio reporL approved by order of the board of trustees, as the company directors, on ,,Iq.. - 11.-..k.W........... and signed on the board's behalf by.. 4LÉQ Mr T Shaikh - Trustee Page 5
Report of the Independent Audfiiors to the Members of North London Adult C4re Ltd Opinion We have audited the financial statemenls of North London Adult Care Lid (the 'charitable company,) for the year end 31 March 2024 which comprise the Statement of Financial Activities. the Statem¢nt of Fin&ncial Positio the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting polteies. The financial reporting frarnewoTk that has been applied in their preparation TS applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), includin¥ Financial Reporting Standard 102 The Finan¢ial Reporting StandaTd applicablc in the UK and Republic of treland,. In our opinion the financial statements: give a trne and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and eXpCndÉtu, for the year then ended. have been properly prcpared in accordance with UT]ited Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Treland and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basls for oplnion We ¢ondu¢¢ed our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further de&icribed in the Auditors, responsibilities for Ihe 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 ststements in the UK including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responyibilitiu 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, Con¢luglon8 relatlng to golng concern Tn 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 approprial¢. B&8ed on the work we have perfornied, wc havc not identified any material uncertainties relating to event% 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 authoriscd for issue, Our responsibilities and the responsibilities of the trustees With respert to goins concern are describcd in the relevant sections of this report. Otber Informatlon The ITUStees are responsible for the other inforntion. The other information comprises the infornTrtion included in the Annual Report, other than the financial sloiements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in ow report, we do not express any fom of assurance conclusion thcrcon. In cornieclion with our audit of the financia] stalements, our responsibility is to read the olhcr infonnation 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 misslalements, wc are required to detern)ine whether this gives rise to a material misstatement in the finan¢ia] statements themselves. If, based on the work we have pcrfomed, we conclude that there is a material misstatement of this olher information, we are required to rq)ort that fact. We have nothin¥ to report in this regard, Oplnions on other matter5 prescribed by the Companle$ A¢t 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the Rcport of the Trustees for the financial year for which the financial staternents are prepared 15 consistent with the fllw]cial statcm¢nts' and the Report of the TTUStees has been prepared in accordance with applicable legal requirements. Page 6
Report of the Independent Auditors to the Members of North London Adult Care Lid Matters on whieb 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 audiL we have not identified rnaterial misstatements in the Report of the Trustees. W¢ hav¢ nothing to report in respect of the following matters where the Companies A¢t 2006 requires us lo report to you if, in our opinion.. adequate accounting records have noi been kept or Teturns ad¢quat¢ for our audit have not been received frorn branch not visited by us,. or the financial tstatcrnents are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneralion specified by law are not made. or we have not received all the infoTmation and explanations we require for our audit. Re8ponilbllltles of trustees As explained more fully in the Trustees, Responsibilities Statement, the trnstees (who are also the directors of the charitable company for the PUTpose.% of company law) are responsible for the preparation of the financial staternents and for being satisfied thai they give a ttue and fair view, and for such internal control as the trustees deterniine is necessary io enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. tn preparing the financial statements, the ttvstees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to goin8 concern and using the going concern basis of accounting ullless the trustees either intend to liquidate the charitable company or to cease opeTations, or have no realisti¢ alcernalive but to do so. Our responslbllltlei for the audlt of the finfinctal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordanc¢ with regulations made under section 154 of Ihat Act. Our Objectiv ar¢ to obtain Teasonable assurance aboul whcthcr the financial ytatements &8 a whole are frec from material misstatement, whether due to fraud or eOr, and to issue an auditovs report that includes our opinion. Reasonable assurance is a high level of &8surance, but is not a guarantee that an audit condu¢ted in accoTdancc with ISAS (UK) will always d¢tcct a matcrial Tnisstatement when it exists. Misstalcment5 can aritie from fraud or error and are considered material if, individually or in the aggregate, they could Te&8onably bc cxpected to influence the economic decisions of uscrs taken on the basis of these financial slatements. We obtained an understanding of the legal and regulatory framework8 applicable to the Qharitable company and the sector in which it operates. W¢ obtained an understanding of how the charitable company is complying with those legal and regulatory frameworks by making enquires to management. We corroboraied these enquires through, where applicable, our review of trustees, minutes. We aise&sed the susceplibilily of the charitable company's financial statements to material misstatement4 including how fraud might OCCUT. Audit procedures perfomicd by the engagement l¢am included: identifying and asscssing the desi effectiveness of controls management has in place to prevent and detcct fraud. understanding how those charged with governance considered and addressed the potential for override of control OT other inappropriate influences over the financial reporting process. - challenging assumptions and judgement5 made by the management in its signifi¢aDt accounting estimales: - identifying and testing journal entries, in parti¢ular any unusual journal entries.. and assessing the extent of compliance with relevant laws and regulations. We did not identify any key audit matters relating to irregulaTities including fraud. Page 7
Report of the Independent Auditors to the Members of North London Adult Care Ltd Becau of the inhercnt limitations of an audit, there 18 a Tisk that we will not detect ail irregularitics, including those leading to a material misstatement in the financial statcmcnLs or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions rcflccted in the financial statements, as we wal b¢ I¢s5 likcly to become aware of instances of non-compliance. The risk is also gr¢at¢T Tegarding irregularities occurring due to fraud rather than error, as fraud involves intentional cOnCeMent, forgeryg collusio omission or misrepresentation, A further description of our responsibilities ftir the audit of the financial statements is located on Ihe Financial Reporting Council's website at www.frc.OTg.uklauditorsresponsibilities. This description forn)s part of our Report of the Independent Auditors. U8¢ of our report This report is made solely to the charitable cornpany's member4 as a body, 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 companl$ members those matters we are r¢quir¢d to slat¢ to thcm in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not 8cc¢pt or asgume responsibility to anyone other than thc charitable company and the charitable company's membcTS as a body, for our audit worL for this report, or for the opinions we have fornied. Alan Kaye (Senior Statutory Auditor) for and on behalf of BBK Partnership Chartered Accountants & Statutory Auditors l Beauchamp Court 10 Victors Way Barn¢t Hertford5hire EN5 5TZ Date: ...&>..- !!- 2aZ4 Pagc 8
North London Adult Care Ltd Stattment of Flnanelal Aetivities for the Year Ended 31 March 2024 31.3.24 Total fLLnd8 31.3.23 TotsE funds Unrestrictcd funds Restricted funds Notcs INCOME AND ENDOWMENTS FROM Charitable Activltle$ Hom¢ Car¢ Services 867,194 867,194 720J16 Investment income Totsl 873 374 873 374 742031 EXPENDITURE ON Charitable Ydctlvltles Home Care Services 907.740 907 740 828 097 NET INCOMEI(EXPENDITURE) (34,366) (34,366) (86,066) RECONCILIATION OF FUNDS Total funds brought forward 1,445,620 1,445,620 1,531,686 TOTAL FUNDS CARRIED FORWARD 1411254 1411254 1445 620 The notes forn) part of these financial statements Pagc 9
North IndOn Adult Care Ltd Statement of Financial Positlon 31 March 2024 31,3.24 Total funds 31.3.23 Unrestricted funds Restricted funds funds Notes FIXED ASSETS Tangible assets 12 696,665 696,665 707,053 CURREIYT ASSETS Dcbtors Cash at bank and in hand 13 84,853 84,853 73,845 689 494 747,557 747,557 763,339 CREDITORS Amounts falling duc witl)in one year 14 (32.968) (32,968) (24,772) NET CURREiYf ASSETS 714 589 714 589 738 567 TOTAL ASSETS LESS CURRENT LIABILITIES 1,411254 1,411.254 1,445,620 NET ASSETS 1411254 1411254 1445 620 FUNDS Unrestricted funds: General fund 15 1411254 1445 620 TOTAL FUNDS 411254 1445 620 The financial statements were approved by the Board of Trnstees and authorised for issue on 2ts Zg..,...... were signed on its behalf by., Mr J K Mandavia- Trnst¢¢ The notes form part of these financial statements Page 10
Nortb London Adult Care Ltd Statement of Cash Flows for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operating activities Cash generated from opcrations 75 699) Net cash used in operating activities 32 371) 75,699) Caih flow$ from investing activltles Purchase of tangible fixed assets Interest received (599) N¢t cash provided by investing activitie5 Change in cash And ea8h equlvalents In the reporting perlod Cash and ca8h equlvAlents at ihe beglnning of the repordng perfiod (26,790) (53.984} 689 494 743 478 CAsh tdnd Casb equlvalent8 at the end of the reportlng perlod 689 494 The notes fonn part of these financial statements Pagell
North ndOll Adult Care Ltd Notes to the Slatejnent of Cash Flow8 for the Year EDded 31 March 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net expendlture for the reporting period (a$ per the Statsment of Financi41 Aetlvltles) Adju5tmellts for: Lkpreciation charges Interest received (Increa8Cydccre in debtOTS Incre&sel(de¢rease) in creditors (34,366) {86,066) 10,987 (6,180) (11,008) 18,867 (21,715) 44,544 Net eash used in operatlons 32 371) 75 699) ANALYSIS OF CHANGES IN NET FUNDS Al 114123 Cash flow At 3113124 Net ea8h Ch at bank and in hand 689 494 662 704 689 494 662 704 Totsl 689 494 662 704 The notes forn] part of these flnancial statements Page 12
North London Adult Care Ltd Notes to the Ffin4neial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basts of preparing the finaneial stat¢n)ents North IA)ndon Adult Car¢ is a private company limited by guarantec in England. The address of the registered officc is detailed as part of thc Teport to the trustees of these financial statements. The nature of the Charity's operations and principal activities are th¢ Provision of support services principally of Asian origin. The charlty Const]t¢S a public benefit entity as defined by FRS 102. The financial statements have been prepared. in accordance with Accounting and Reporting by ChaTilies: Statcment of Recommended Pra¢ti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir¢land issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act 201 I, the Companies Act 2006 and UK Genera]ly Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical ¢ost convention, modified to include certain items at fair value. The financial statements are presented in s¢¢rling which is the functional currency of the charity and rounded to the nearest £1. The sigmificant a¢¢ounting policies applied in the preparalion of these financial statements are set out below. Thcsc poli¢i¢s have been consistently applied to all ycaTS presented unless otherwise statcd. Signifi¢aDt Judgements and e8tlmate8 In the application of the charitsble company's accounting policies, the trnstees are required lo makc judgcments, cs%imate5 and assumptions about Ihe ca]ng amount of the assets and liabilities that are not readily apparent from other sources. The estimates and a&sociated assurnptlOTJS EITC bascd on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates arc rccognised in the p¢rAod in which the estimatet> 18 revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both ¢urrent and future periods. In¢ome All income is re¢ognised in the Statement of Financiaj Activities once the charlty ha$ entiilemenl to the funds, it is probabl¢ that the income will be rec¢ivtd and the amount can be measured rcliably. The following specAfAc policies are applied to partioular categories of income: tncome from donations or grants is recognised when there is evidence of entitlement to the 8iIL elp1 is probable and ils amount can be measured reliably. Legacy income is recognised when receipl is probable and enliilement is established. In¢orne from donated goods 18 measured at the fair value of the good8 unless this is impracti1 lo measure reliably, in which case the value is derived from the cost to the donor or estimated r&%ale value. Donated facilities and services are re¢ognised in the accounts when received if the value can bc reliably measured. No amounts are included for the contribution of g¢neral volunte¢rs, Income frorn the contracts for the supply of serviccs is recognised with the dclivery of the contracted service. This is clas5ifJed as unrestricied funds unless there is a contractual requircment for it to be spent OD a particular purpose and retum¢d if unspenL in whi¢h Casc it may be regarded as r¢stricled. No amount 1$ included in the financial statements for volunteer tirne in line with thc SOBP. Page 13
North London Adult Care Ltd Notes to the Financial Stfdtements - contlnued for the Year Ended 31 Marcb 2024 ACCOUNTING POIJCIES - coDtinued Expenditure Liabilitie5 are recognised as ¢xp¢nditure as soon as thcTC is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of ewnomic benefit8 will be required in sdllement and the amount of thc obligation can be measured reliably. Expenditure is aexounted for on an accruals b18 and has been classified under hdIng> that aggregate all cost relaled to the category. Where costs cannot be dtrectly attributed to particular headings they have been allocated io activities on a basis consistent with the use of Tesourcas. Support Costs &lloeation Support costs are those that assisl the work of the charity but do not directly represenl charitable activitie8 and include office Costs, governance costs, admintstrative payroll costs. They are incurred directly in support of expendilure on the objects of the Charity and include project management Caled out at Headquarters. Where support costs cannot be directly attributed io particular headings they have been alIcted to ¢osl of raising funds and expendTture on charitable activities on a b&sis consistent with use of the resources. Fund-raisin8 Costs are th08e incurred in s¢eking voluntary contributions and do not include the costs of disseminating infornjation in Support of the charitable activities. Governan¢e ¢o$ts Govemance costs include Ihose cost associated with meeting the constitutional and statutory requirements of the charity and include thc audit fccs and cosls linked to the strategic managemenl of the charity. Allocatlon and appordonment of ¢09ts Support Cost are those functions that assist the work of the charity but do nol directly undertake charitable activities. Support costs include back o£fi¢e costs, finance, personal* payroll and governance coyts which support the tnt8 programmes and activiti¢s. Th¢se costs hav¢ b¢¢n allo¢aled between Cobl of raising funds and expenditure on clwilable activities. Tanglble flxed assets Depreciation is provided at the followng annual rates in order lo WTile off each asset over its estimated useful life. Short leasehold Long leasehold Fixtures and fittings 20/0 on cost l on cost 2/4 on cost Taxydtion The charity is an exempt charity within the rneaning of schedule 3 of the Charitie% Act 2011 and is considered to pa&5 the tests set Oui in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a Charitable company for UK corporation lax purpo&es. Fund aeeounting Unrestricted funds can be used in accordance with the charitable objectiv&s at the discretion of the trustees. Designated Funds are funds set aside by the trustees out of the unTtrIcted general funds for speeific future pu8¢$ or projects. Restricted funds can only bc used for particular reslrictcd pury)08es within the objects of the charity. Restrictions arise when specified by the donor or when funds arc raised for particular restricted purposcs. Further explanation of the nature aTJd purpose of each fund is includcd in the notes to the financial statements. Page 14
North London Adult C&re Ltd Notes to the Flnanelal Ststements - eontinued for the Year Ended 31 mch 2024 ACCOUNTINC POLICIES - ¢onlinued Hlre purchA$e Ind leasing commitments Rentals paid undeT operating Icascs are charged to the Statement of Financial Activities on a slraigbt line basis over the period of the lease. Pension costs and other post-retlrem¢nt benefits The charitable company op¢rat¢s a defined Contribution pension s¢herne. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which thcy rclatc. DonAted servl¢e8 and fadlltie8 Donated professional services and donated facilities are recognized as income when the charity has control over the item, any conditions associated wilh the donated item have been mei, the receipt of economic benefit from the use by the chltY of the item is probable and that economic benefit can be m&qsured reliably. In a¢¢ordan¢e with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognized and refer to the trustees, amiual report for more information about their contribution, On receipi, donated professional Servic and donated facilities are recognized on the basis of the va]u¢ of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent e¢onomic benefit on the open market. a corresponding amount 1$ then Tecognized in expenditure in the period of receipt. Trade debtors Deb¢oTg Trade and other dcbloTS aTC recognized at the settlement amoLLnt duc after any trade di8¢ouni offered. Prepayments arc valued at the amount prq)aid ncl of any trade discounts due, Ca8h it bank and ID band Cash at bank and Cash in hand includes cash and short lenn highly liquid investments with a short rnaturity of three monlhs or less from the datc of acquisition or opening of the deposit or similar account. Credltor8 Creditors are reoognized where Ihe chaTity hay a present obligation rc5ulting from a past eveni ihal will probably result in the transfer of funds to a third party and the amount due to settle the obligation ¢an be measured or estimated reliably. Creditors are norn)ally r¢¢ognized * thcir settlement amount after allowing for any iTade discounts due. Impalrment Assets not me&sured at fair Vlle are reviewed for any indication that the asset May be impaiT¢d at each balance sheet date. If such indication exists, the recoverable amount of the asset, or th¢ asset's $h generating unit, is estimaled and compared to the carrying amount. Where the carrying amount exceeds its recovcrable amount, an impairnient Ios5 is recognized in Profit or loss unless th¢ asset is carrieAI at a revalued amount where the irnpairnicnt loss is a revaluation decrease. Provisions Provisions are rognIzed when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and ihe amount can be reliably estimated. Going concern The finan¢ial statements have been prepared on a going conccrn blS as the trustees believe that no material uncertainti¢s exist. The trnstees hav¢ considered the level of funds held and the expect¢d level of income and cxpenditure for 12 months from aulhorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to ntinUe as a going concern. Page 15
North IAbndon Adult Care Ltd Note8 to the Financial Statements - continued for the Year Ended 31 Marcb 2024 INVESTMEIYT INCOME 31.3.24 31.3.23 Bank Interest Receivable Grant Incorne 6,180 766 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Home Care Services Hom¢ Care Services 867 194 720,316 CHARITAB ACTIVITIES COSTS Support costs (see note 5) Direct Costs Totals Home Care Services 892 937 907 740 SUPPORT COSTS Governance costs Other Totals Horne Care Services NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after Chargin{credIting). 31.3,24 31.3.23 Depreciation- owned assets Other operating leases 10,987 18,868 AUDITORSI REMUNERATION 31.3.24 31.3.23 Fees payable to the charity's auditors and their associates for the audit of the charity's financial statements Pag¢ 16
North London Adult Cvdre Ltd Not to the FlnAntlal Statements - eontlnved for the Year Ended 31 Mreh 2024 TRUSTEESI REMUNERATION AIW BEIYEFITS There were no tTUStees' TernuneTation OT Other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 785,465 42,182 676,186 28,533 841548 716 008 The average head count of employccs during the year 64 (2023.73) The aVage monthly number of employees during thc year was as follows: 31.3.24 31,3.23 Number of Administrative Staff Numb¢r of Horn¢¢ Staff 56 64 64 73 No employees received emoluments in excess of £60,000. 10, COMPARATIVES FOR THE STATEMENT OF FllYANCIAL ACTIVITIES Unrestricled funds Reslricted nds Total funds INCOME AND ENDOWMENTS FROM Charltble f4Ctlvltles Home Care Services 720,316 720,316 Tmvestment income Total 742031 742 031 EXPENDITURE ON Charltable &etivities Home CaT¢ S¢rvi¢e8 828,097 828,097 NET INCOMEI(EXPENDTfuRE) {86,066) (86,066) RECOF4CILIATION OF FUIWS Total funds brougbt forward 1,531,686 1,531,686 TOTAL FUNDS CARIUED FORWARD 1445 620 1,445,620 Pagc 17
North London Adult Care Ltd Note5 to the Financiydl Statements - continued for the Yr Ended 31 M*rch 21124 ii. PENSIONS AND OTHER POST-RETlliEMENT BEF4EFITS The charity operates a defined contribution penskon pian for ils employees. The amount recognised as an expense in the period was £13,901 {2023 - £11.289)- The defined contribution liability is allocated to unrestricted funds. 12. TANCIBLE FIXED ASSETS Fixtures Short Icasehold txjng Ic8sehold fittings Totals COST At l April 2023 Additions 256,843 505,000 60,828 599 822,671 599 At 31 March 2024 823 270 DEPRECIATION Al l April 2023 Charge for year 25,548 30,300 59,770 800 115,618 At 31 March 2024 126 605 NET BOOK VALUE At 31 March 2024 226 158 469 650 857 696 665 At 31 March 2023 231295 474 700 707 053 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31,3.24 31,3.23 Trade debtors Prepayments 83,001 69.758 Page 18
North London Adult Care Ltd Notss to the Financial Statements - eontlnued for the Year Ended 31 March 2024 14. CREDITORS: AMOiTNTS FALLtNG DUE WITHIN OIYE YEAR 31.3.24 31.3.23 Trad¢ creditors Social security and other taxes N¢t Wages PcT)sion Fund Arlled expenses 2.790 13,769 5,925 3.684 9,856 5,364 2,565 24,772 15. MOVEMENT IN FUNDS Net movement in funds At 3 113124 At 114123 Unrestrlcted fuDds General fund 1,445,620 (34,366) 1,411254 TOTAL FUNDS 1445 620 34 3661 1411254 Net movement in funds, included in the above are &8 follows: tncornin rc80urce8 Rcsourccs expended Movement in funds Unre8trltttd funds General fund 873.374 (907,740) (34,366) TOTAL FUNDS 873 374 907 740) ComparYdtlve8 for movement in funds Net movement in funds Al 3)1.1123 At 114122 Unrestrletsd fvDds General fund 1,531,686 (86,066) 1,445,620 TOTAL FUNDS 1,531686 86,066) 1,445,620 Page 19
North London Adult Care Ltd Notes to the Financial Statements - eontlnued for the Year Ended 31 March 2024 15. MOVEMENT IN FUNDS - ronthiued Comparative net movement in funds, included in the above are as follows.. Incorning resources Resources expended Movement in funds Unrestrleted funds Gener fund 742,031 (828,097) (86.066) TOTAL FUNDS 742031 86 066) 16. RELATED PARTY DISCLOSURES London Borou¥h of Enfield provides the majority of fijnding to enable the charity to cary its charitsblc objectives. 17. SUBSEQUENT EVENTS During the period ended 31 March 2024, the trustees found an inconsistency amounling to £7,995 which related to the previous periods reportable income of Home Care Services. The difference w&$ created due to nonrfongruent timing difference between the Ounting and Ihe reporting .8oftwar¢. Instead of rcstating ¢he previous period'& comparative, the Iruslee$' in con¢ert have ad to rcduce the current period incoming fijnds by Ihe same amount. Page 20
North London Adult Care Ltd Detailed Ststement of Finallclal Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Investment ineome Bank Interest Rec¢ivable Grant Incon 6,180 766 6,180 21,715 Charltable activities Home Care Servi¢es 867 194 720 316 Total In¢omlllg re$oMrce5 873,374 742,031 EXPENDITURE Charitable aetlvltle8 Wages Social security Pension Hire of equipment Rates and watcr Insurance Light and H1 Telephone Postage and sLalionery Repair & Maintenance Motor & Travel Refreshment$ Bad Debt Computer Accessories Advertising Re¢ruilmeni Expenses Doubtful debls Short leasehold Long leasehold Fixtures and fittings Training cost 785,465 42,182 [3,901 6,636 263 5,939 5,560 5,586 2,239 9,287 1,293 1,375 (930) 336 413 311 676,186 28,533 11,289 4,900 168 7,652 3,809 4,675 2,809 5,010 2,451 1,182 40,253 450 1,032 2.419 (5,370) 5,137 5,050 8,680 5,137 5,050 800 892,937 808,182 Support e08ts Other Prof¢s5ional fees 8,103 13,315 Gov¢rnance costs AudÉtors' remuneration 6,700 6,600 This pag¢ does not forni part of the statutory financial statements Page21
North London Adult Care Ltd Detailed Statement of Fina]JciAI Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Total resources expend 907 740 828,097 Net expenditure 34,366 86,066) This page does not forn) part of the statutory financial statements Page 22