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← Chrysalis (Cumbria) Ltd

2024-03-31-accounts

Charity registraton number 1116125

Company registraton number 05751140 (England and Wales)

CHRYSALIS (CUMBRIA) LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

CHRYSALIS (CUMBRIA) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs B H Earl
Mr J R Fearon
Mrs M A Drury
Mr D A Dodd
Mr S Walker
Secretary Mrs M A Drury
Chief executve ofcer Mrs C Doherty
Charity number 1116125
Company number 05751140
Principal ofce and registered ofce Leaside
Longthwaite Road
Wigton
Cumbria
United Kingdom
CA7 9JR
Auditor Saint & Co
Chartered Accountants & Statutory Auditor
Sterling House
Wavell Drive, Rosehill
Carlisle
Cumbria
CA1 2SA
Bankers Natonal Westminster
92 English Street
Carlisle
Cumbria
CA3 8NF

CHRYSALIS (CUMBRIA) LIMITED

CONTENTS

Page
Trustees' report 1 - 17
Independent auditor's report 18 - 21
Statement of fnancial actvites 22
Balance sheet 23
Statement of cash fows 24
Notes to the fnancial statements 25 - 41

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

The trustees are committed to applying best practice in governance commensurate with our charitable status and our principal activities. This report sets out our approach which is based on the Charity Commission Governance Code. The aim of the Code is to help charities and their trustees develop high standards of governance. Whilst the Code is neither a legal nor regulatory requirement, the trustees believe that we should aspire to comply where possible. Where we cannot presently comply with aspects of the Code we will provide an appropriate explanation.

The Code was recently updated and we established a Working Group to review the revised version of the Code. This Working Group was led by David Dodd and presented its’ findings to the Board of Trustees.

- Principle 1 Organisatonal Purpose

The board is clear about the charity’s aims and ensures that these are being delivered effectively and sustainably.

Chrysalis is an independent charity and company limited by guarantee. The charity is governed by a constitution as adopted on 1 June 1995, amended in October 1995 and further amended in July 1999. This is registered with the Charity Commission.

Objectves and actvites

The trustees hold an Annual Strategy Meeting together with the Senior Management Team. During this meeting the trustees review our charitable purpose along with an appraisal of the external environment. The meeting will also review the effectiveness of our services and will ensure that we are providing a public benefit which is valued by our clients, their families and other stakeholders. The Annual Strategy Meeting will include a thorough examination of the environment to appraise and ensure our sustainability.

Our Mission Statement:

To be an agile local provider of choice, trusted by individuals to meet their needs and enrich their lives. We will provide excellent quality of care and support and we will ensure our financial stability. We will deliver these objectives by attracting and retaining a flexible and multi-skilled workforce.

Our strategic objectives are to:

VISION – to enrich and support the lives of individuals with disabilites

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

In line with our delivery plan Chrysalis provides a range of person-centred activities within the community. We also have resource bases at Leaside and The Meeting Place in Wigton and at Westmoor in Carlisle.

Individuals engage in a range of supported activities including independent living skills, creative arts, employment training, sensory stimulation, computing, horticulture and photography to name but a few areas.

Our Wholefood Shop enterprise continues to offer opportunities for individuals to increase skills and confidence in a supported placement to develop future employability whilst providing a great offer for the local community.

We have access to a range of community facilities across Cumbria which include swimming sessions and hydrotherapy, fell walking, sailing, bowling, accessible cycling and a range of outward-bound experiences.

All support is person-centred offering group, one-to-one and two-to-one activities dependent upon the needs of each individual and the activities undertaken.

During 2023 we recommenced our range of placement opportunities for health and social care, nursing and social work students from a number of educational centres throughout the region. Whilst providing much appreciated support for Chrysalis, these placements also allow the students to gain valuable skills and experience which will assist with their future employability within the sector.

- Principle 2 Leadership

Every charity is led by an effective board that provides strategic leadership in line with the charity’s aims and values.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs B H Earl

Mr J R Fearon

Mrs M A Drury Mr D A Dodd Mr S Walker

In accordance with our Constitution Rule 25 Helen Earl will retire at the Annual General Meeting and being eligible, seeks re-election. The other trustees can confirm that an annual meeting without the Chair is carried out and at this meeting they confirmed that Helen’s performance continues to be effective and she continues to demonstrate commitment to her demanding role within the charity.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Helen Earl

Helen originally from Mayport has a background in education, originally teaching. Helen became Strategic Manager for Behaviour Support and her expertise centres around Communication Of Government Strategy. Helen is Chair of Allerdale Multiple Sclerosis Society, a school Governor and currently Chair Of Trustees for Chrysalis whilst forming part of the Governance, Remuneration, Finance, and Nominations committees. Helen’s hobbies include craft work, sewing, reading, outdoor activities amongst many others.

Ray Fearon

Ray was born and bred in Wigton, he has spent his entire career in horticulture, first as a Horticultural Advisory Officer in the Ministry of Agriculture and then in commercial horticulture. Ray’s son became a member of Chrysalis in 1990 when it was still known as Smile. Ray’s hobbies include mountaineering, walking and singing with Dalston Male Voice Choir. Ray is currently part of the Marketing and Client Service Delivery committees.

Margaret Drury

Margaret recently retired from her position as an inspector for the Care Quality Commission having worked in the Adult Social Care Directorate for over 15 years. Margaret has a Degree in Social Sciences and the Arts and has completed two Post Graduate Certificates in Dementia Care. Margaret’s interests are reading, classical and choral music, she is an active member of her local Methodist church, and has recently taken up horse riding. Margaret is a member of the Client Service Delivery and Risk & Compliance committee.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

David Dodd

David lives with his wife Carol in Brampton, he has a son and two step-daughters. David joined the Board in 2019 and is presently Chairman of the Finance Committee, the Risk & Compliance Committee, the Marketing Committee and the Remuneration Committee. He was formerly Chief Executive of a regional building society and has an MBA from the Open Business School.

Stephen Walker

Stephen, originally from the North East, has lived in Cumbria for 30 years, he is a registered social worker and is currently involved in social work education; working with students out on placement. When not involved in social work Stephen is a tour guide at the Lakes Distillery, he runs a monthly whisky club in Cockermouth and is heavily involved in the Campaign for Real Ale. Stephen is currently involved in the Finance, HR & Staffing and Clients Service Delivery committees.

The attendance of trustees at the numerous Board and sub-committee meetings is set out below. Against each trustee’s name is shown the number of meetings which the trustee was present as a member and in brackets the number of such meetings that the trustee was eligible to attend. All trustees are unpaid volunteers and so naturally they may have other commitments which prevent them from achieving 100% attendance. The Nominations sub-committee did not meet during the year.

Helen Earl
(Chair)		 Margaret
Drury		 Ray
Fearon		 David
Dodd		 Stephen
Walker
Board 5(5) 5(5) 4(5) 4(5) 5(5)
Finance Committee 3(5) 5(5) 4(4)
Risk & Compliance Committee 3(3) 1(3) 2(3) 3(3) 2(3)
Nominations Committee
Remuneration Committee 2(2) 2(2)
Client Service DeliveryCommittee 3(3) 3(3)
Governance Committee 1(1) 1(1)
MarketingCommittee 2(2) 2(2)
Staff & HR 4(4) 3(3)

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

In accordance with best practice, the role of Chair and Chief Executive is not held by the same person. A Chief Executive Officer (CEO) is appointed by the trustees to provide leadership and direction. The CEO is supported by the Senior Management Team who are responsible for the day-to-day operations of the care and support provision, administration, finance, marketing, support and HR. The current Chief Executive Officer is Claire Doherty who has been with Chrysalis for 33 years. The present Chair is Helen Earl who was elected to this position in March 2023 having been a trustee since 2016.

The members of the Senior Management Team are:

Claire Doherty – Chief Executve Ofcer Shelley Clarke – Finance Manager

Emma Jackson - HR Manager

Rachel Chebbi – Operatons Manager

A board of trustees who meet quarterly administer the charity and are responsible for overall management and control receiving reports from the Chief Executive Officer and associated governance sub-groups on a regular basis. The trustees, as a whole, and individually, accept collective responsibility for ensuring that we maintain a clear set of aims and that our strategies/tactics are designed to achieve these aims.

The following sub-groups have been established:

(a) Governance

The main aims of this group are:

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

(b) Finance and General Purposes

The main aims of this group are:

(c) Staff & HR

The main aims of this group are:

(d) Marketing

The main aims of this group are:

(e) Client Service Delivery

The main aims of this group are:

(f) Remuneration

The main aims of this group are:

The overall objective of the Committee is to ensure that our Remuneration Policy attracts, retains and motivates the calibre of senior management required to fulfil our strategic objectives.

(g) Risk & Compliance

The main aims of this group are:

(h) Internal Audit

The main aims of this group are:

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

- Principle 3 Integrity

The board acts with integrity, adopting values and creating a culture which help achieve the organisation’s charitable purposes. The board is aware of the importance of the public’s confidence and trust in charities, and trustees undertake their duties accordingly.

Our Values:

We will always treat people with dignity and respect.

We will ensure that our clients have choice and control over the service which we provide to them. We will always act with integrity.

We will use both innovation and creativity to deliver our services.

We will ensure that our clients have maximum involvement with the services that we provide.

Trustees are aware of the need to act with integrity. An appraisal process is in place to emphasize the need to comply with our values.

Trustees and the Senior Management Team are focused on delivering our services for the public benefit and they ensure that this remains at the heart of all our actions.

Related partes

Trustees’ families are able to access our services in line with usual referral process but on a normal armslength basis. Any conflicts of interest would be declared and remedied in relation to trustee matters.

- Principle 4 Decision Making, Risk and Control

The board makes sure that its decision-making processes are informed, rigorous and timely, and that effective delegation, control and risk-assessment, and management systems are set up and monitored.

Delegaton and Control

Trustees are aware that they have delegated various actions to the Senior Management Team, however, trustees are also aware that they remain accountable for the actions of the organisation.

An Organisation & Control Manual has been created which sets out those matters which are reserved for the Board of Trustees and those which have been delegated to management. Likewise, the main Board has delegated various matters to sub-committees. Each board sub-committee has comprehensive Terms of Reference and minutes are taken of all sub-committee meetings. The manual also refers to the job descriptions for all senior positions and our strategy. The manual then provides details of the following areas:

Each of these areas is then cross-referenced to the Charity Commission Code of Good Governance to ensure that we remain compliant in all operational areas.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Risk management

The Board of Trustees have identified the major risks to which the charity is exposed, and are confident they have established systems and procedures to manage those risks.

The Risk & Compliance sub-committee reports to the main Board of Trustees. The committee examines new and emerging risks; it also measures how we are performing against current risks. All other sub-committees produce regular risk reports which are submitted to the Risk & Compliance Committee.

A Risk Register is maintained showing all the risks identified by each sub-committee. Each risk is described and measured.

Risk Appette Overview

The Risk Appetite of Chrysalis (Cumbria) Ltd sets out the levels and types of risks which we are prepared to accept and tolerate. It must be acknowledged that it is neither possible nor desirable to get rid of all risks, the purpose of our risk processes is to manage and mitigate risk. The management may include transferring that risk for instance by the use of insurance.

Chrysalis operates within a low overall risk range. Our lowest risk appetite relates to the Operational area, specifically the safety and safeguarding of our clients.

We also have a low risk appetite in areas of Financial operations. We aim to maintain sufficient liquid assets to cover at least one month of our operating costs. In addition, we have developed a comprehensive Reserves Policy and we will maintain reserves within the levels stipulated by the Reserves Policy.

We have a marginally higher risk appetite towards our Regulatory & Compliance responsibilities. As a small organisation we recognise that we have finite resources which means that senior managers will have responsibilities for both operational and compliance matters. In larger organisations these responsibilities would be split between different personnel. Likewise, our trustees are all non-paid volunteers which limits the time that we can expect them to devote to the Charity.

We have a similar risk appetite towards Governance issues. We will apply “best practice” rules where possible and where these are compatible with our culture and values. We will use the “comply or explain” approach to the Charity Governance Code for Large Charities; where we do not comply with a requirement we will fully explain our rationale.

We have a slightly higher risk appetite when considering External issues. We have to acknowledge that we may be reactive here rather than proactive. Some external issues will be more important to us and therefore our risk appetite will be less for these issues especially if these issues have an immediate detrimental effect on our operations.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Quality assurance

The trustees can confirm that Chrysalis has continued to meet the standards required through all its’ contractual obligations.

Chrysalis is proud that it has continued to meet the national standards of the Investors In People (IIP) award. A full review was carried out in 2023 are we were delighted that the assessor considered that we continue to meet the high standards required.

Principle 5 - Board Efectveness

The board works as an effective team, using the appropriate balance of skills, experience, backgrounds and knowledge to make informed decisions.

The trustees act as directors of the organisation. The Board of Trustees meets regularly to review performance against long-term strategic and operational objectives. Details are contained in our Corporate Plan, Business Plan, Value Statement and the terms of reference of the various Board committees.

In addition, the Board of Trustees has general responsibilities to ensure that we:

The Board of Trustees takes decisions on specific matters such as major investment and capital purchases. The Board also established and monitors the strategic objectives of the organisation. Decisions such as dayto-day expenditure are delegated to the Senior Management Team.

The trustees meet without the Chief Executive Officer present at least once a year. All directors meet without the Chair present at least once a year.

New trustees are recruited and appointed if they can show an understanding of the specialist nature of the support services provided by Chrysalis. New trustees are expected to attend induction training and involve themselves with the range of provisions through familiarising themselves with the workings of staff and individuals we support.

The Charity Governance Code recommends that trustees are appointed for an agreed time, normally 9 years unless the Charity’s constitution states otherwise. Our Memorandum does not stipulate an agreed time. However, our Memorandum does state that one third of our trustees shall retire in rotation each year and this is covered in page 3 of this report.

We provide specific training sessions for the trustees. In addition, the trustees have taken a hands-on role when considering our compliance with the Charity Commission Governance Code.

A formal appraisal process has been introduced for all trustees.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

– Principle 6 Equality, Diversity and Inclusion

The board’s approach to diversity supports its effectiveness, leadership and decision making.

The trustees’ approach to diversity supports our values. The term “diversity” includes the 9 protected characteristics contained within the Equality Act 2010 as well as different backgrounds, life experiences, career paths and diversity of thought.

We welcome applications from all groups of society to join our board of trustees. A pro-active approach will be taken here to recruit new trustees.

All effort will be expended to ensure that any obstacles to participation will be reduced and, if possible, overcome. We aim to ensure that everyone can assist with our charitable purposes.

Every trustee has an annual appraisal with the Chair. In addition, the Chair is provided with an appraisal by the acting Vice Chair. All appraisals include a discussion on diversity to ensure that the matter is covered properly.

Our recruitment process, including skills audits and recruitment adverts, complies with our diversity aspirations. In addition, Employee Handbook and our Equality & Diversity Policy follow best practice in this area.

The board leads the organisation in being transparent and accountable. The charity is open in its work, unless there is good reason for it not to be.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.

As part of our annual strategy review the trustees consider and approve our Stakeholder Analysis. Following the annual review, we aim to develop strategies and tactics to ensure that we have the proper communications with our stakeholders both in terms of quality and quantity.

Volunteers and students provide valuable additional support for our permanent staff in key activity areas. We had three active volunteers during the year in addition to the board. They supported with activities led by staff on a regular basis throughout the year giving many precious hours.

We also have a regular contribution of gardening from a local volunteer for which we are very grateful.

Corporate volunteering programmes have developed significantly in recent years and we now have four key corporate partners in support of their social responsibility agenda whilst providing much needed input for the organisation.

Trustees and the Senior Management Team are constantly looking for ways to increase engagement from clients, their families and other stakeholders.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Directors Report

The trustees have great pleasure in presenting their Directors’ Report for the year ended 31 March 2024. We are delighted to report that the charity has returned to profit and we have begun the process of rebuilding our reserves whilst maintaining our high standard of client service.

Strategic Report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Community Panels

New Community Panels have been set up by Cumberland Council. Chrysalis is part of the Fells and Solway Panel and we are able to apply to the Panel for funding, where appropriate. Ideally, we would like to have representation on this Panel.

Cumbria Integrated Care Board (ICB)

A Memorandum of Understanding is being agreed with the ICB. We have held a number of meetings with an ICB Director to discuss the rates being paid by the ICB as the rate paid is not keeping pace with increases in the National Living Wage.

The Chief Executive has maintained our links with Voluntary Organisation Network North East (VONNE) to assist us with our relationship with the ICB.

Following our successful application to be a third sector representative for the Integrated Care Community (ICC) the Chief Executive continues to represent Chrysalis and to provide our input which allows us to influence the decision makers and have an important seat at the table of the Leadership team within Keswick and Solway ICC.

Achievements and performance

We were delighted to commence our service at The Loft at Churchrigg. We are grateful to the owners for the excellent development of this extra facility, the clients have settled well into their new home and we hope they have a long a happy time there.

Following a number of discussions with the Forbes Charitable Foundation we were successful in our application for a grant to fund a new position within the organization. This post will enable us to further develop our wholefood shop, our holiday provision and our outreach service.

A great deal of work has taken place in an attempt to extend our Supported Living provision. This project is still in the early stages. It is hoped to be able to complete the project during 2024 and, if successful, this may be replicated in the future.

The trustees are proud to report that during the year the organization returned to profit. This has allowed us to ensure that we continue to pay at least the National Living Wage to all staff and we have been able to look at ways of growing the business. In addition, we have added to our reserves. We took a deliberate decision not to add too much to our reserves as this allowed us to place greater emphasis on staff and business development.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Our new “One Lottery” continues to work well. In addition to providing a small income for the organisation we have had a number of lucky winners throughout the year.

We have continued our work to develop our unique sensory environment in the grounds of the Meeting Place to provide opportunity for learning all year round.

Our shop in Wigton: Chrysalis Wholefoods continues to be popular with people in Wigton and the surrounding area. The shop not only provides an additional income stream but it offers a unique work experience to clients.

Events

Once again we were delighted to hold a number of our popular events during the year. Among the highlights were the following:

We received a donation of £500 from a local business which helped towards the costs of putting on these events.

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The annual craft fair at Greenhill was successful and also raised over £1000 which was fantastic.
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CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Staf

We are proud to confirm that all staff are paid the Real Living Wage in accordance with the Living Wage Foundation along with our Employee Assistance Programme (EAP) which ensures that all staff have full and free access to 24 hour support and a range of enhanced benefits.

We encourage and support staff at all levels, by providing technical and professional education and development. Our objectives and the performance towards those objectives are communicated via regular staff and management meetings.

During the year staff have continued to attend numerous courses, many of which have continued to be presented online or via a blended learning approach.

We are proud to provide a working environment which encourages equal access to training, promotion and career development among all of our staff regardless of their age, creed, gender, marital status or race.

We continue to provide a robust approach to the delivery of all Learning and Development from induction and care certificate, to specific skills such as project management, to enhanced qualifications up to Masters Level ensures a culture of lifelong learning across the organisation.

We appreciate our “Disability Confident” status which means that full and fair consideration is given to applications for employment from disabled persons.

Once again, our staff have continued to provide an excellent service to our clients, and the trustees would like to express their thanks to all of our staff for their dedication and loyalty shown throughout the year.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Financial review

As a not for profit regional charity our aim is to make sufficient profit to ensure longevity of the organisation and not to maximise our profit. All profits will go into our reserves for the purposes of operating the organisation and to safeguard its future. The organization does not have any external shareholders and therefore there are no dividends to be paid out.

The organisation over the last year has seen vast improvements financially as we recover from the pandemic and establish a new norm. One strategic aim was to rebuild the reserves that had been heavily impacted during the pandemic and this has been achieved in this last year with a profit of £73,582, 4.02% of total income (2023: loss of £55,116 at -3.91%). The income achieved in the year now exceeds pre-pandemic levels.

Within the year and under new contractual requirements the organisation switched from paying the National Minimum Wage to paying in accordance with the rates set by the Living Wage foundation which are approximately 5% higher. This was a huge change to the organization given that increases in the National Minimum Wage to commence April 2023 were already approximately 10% but we feel this is a huge benefit for staff and one that will aid stability in our staffing levels.

As mentioned new contracts with both the ICB and local authority were granted within the year once again securing funding and again longevity for the organisation.

Overall the year has been financially rewarding and this strengthens the strategic business plan for the forthcoming years, the Trustees and Senior Management Team are confident that with good management the outlook remains positive.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Pricing

Chrysalis is committed to providing excellent value for money whilst delivering exceptional service. Naturally our detailed pricing is commercially sensitive and it would be inappropriate to publish details here, however our pricing remains competitive with similar providers. Our rates reflect the specialist support that we provide and includes an appropriate contribution to our overheads and our infrastructure.

Each year the Senior Management Team review our pricing structure and provide appropriate recommendations to the Board of Trustees. Following consideration by the Trustees our rates are adjusted accordingly for any tender submissions. Some of the contracts we hold ‘cap’ the hourly rate that is able to be charged, as a fixed price, this has an impact on the resource available.

In recent years there has been an increased demand for providing flexible and individually tailored care packages. This trend is a positive development for Chrysalis as we can be dynamic in responding to identified need, however we must ensure that we have adequate flexibility with the required staffing and that legal and contractual obligations are met whilst maintaining excellent quality.

Investment Powers and Policy

Chrysalis operates in accordance with the powers detailed within its Memorandum and Articles of Association.

Excess funds are invested with an emphasis on security rather than income-generation.

The trustees, having regard to the liquidity requirements of operating the organisation, have authorised available funds to be invested in an interest-bearing deposit account. In the present economic environment, the trustees believe that interest bearing deposit accounts may not provide an interest rate which will exceed the retail price index, this is entirely consistent with our emphasis of “security over returns”.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves Policy

Our reserves policy has been developed to substantiate the level of reserves that should be maintained to ensure long-term financial sustainability. The term “Reserves” is used to describe the part of the organisations’ income funds that are freely available for its operating purposes not subject to commitments, planned expenditure and spending limits. Reserves do not include endowment funds, restricted funds and designated funds.

Having a reserves policy helps inform the way in which we as an organisation can manage our cash, liquid assets and debt. It will assist when planning and explaining our approach to stakeholders, it will contribute significantly in the Board’s ability to balance the needs of current and future beneficiaries and provide stakeholders the assurance that the organisation is well managed and that it has, where appropriate, a strategy for building up reserves.

Without a reserves policy, the Board cannot be confident that their reserves level matches the organisations needs at the time i.e. the organisation could be holding reserves that are too high or too low for its needs.

The reserves policy has been set by conducting and reviewing the following: -

At the end of March 2024, the general unrestricted reserves amounted to £495,762 including designated funds and £256,130 excluding designated funds.

This therefore means that for the year ending 31st March 2024 we fully met our reserves policy.

This reserves policy will be re-examined each year by the Finance Sub Committee at their January meeting following a suitable paper being submitted by the Senior Management Team. Any changes to the policy will be formally agreed by the Board of Trustees upon a suitable recommendation from the Finance Sub Committee.

CHRYSALIS (CUMBRIA) LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Statement of trustees' responsibilites

The trustees, who are also the directors of Chrysalis (Cumbria) Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Saint & Co be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of informaton to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

Mrs B H Earl

trustee

10 July 2024

CHRYSALIS (CUMBRIA) LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF CHRYSALIS (CUMBRIA) LIMITED

Opinion

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

In our opinion, the financial statements:

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 charity 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 relatng 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 charity’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 informaton

The other information comprises the information included in the annual 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. 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.

CHRYSALIS (CUMBRIA) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CHRYSALIS (CUMBRIA) LIMITED

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 maters prescribed by the Companies Act 2006

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

Maters on which we are required to report by excepton

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilites of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

CHRYSALIS (CUMBRIA) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF CHRYSALIS (CUMBRIA) LIMITED

Auditor's responsibilites for the audit of the fnancial 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 the audit was considered capable of detectng irregularites including fraud

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: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the company through discussions with directors and other management;

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company; we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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

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

CHRYSALIS (CUMBRIA) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF CHRYSALIS (CUMBRIA) LIMITED

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 noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors 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: https://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 members, 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 company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart Farrer (Senior Statutory Auditor) for and on behalf of Saint & Co

.........................

Chartered Accountants Statutory Auditor

Chartered Accountants & Statutory Auditor Sterling House Wavell Drive, Rosehill Carlisle Cumbria CA1 2SA

CHRYSALIS (CUMBRIA) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
2024
Notes
£
Income and endowments from:
Donatons and
legacies
3
8,683
Charitable actvites
4
1,776,944
Other trading actvites
5
34,777
Investments
6
5,156
Other income
7
546
Total income
1,826,106
Expenditure on:
Raising funds
8
66,875
Charitable actvites
9
1,689,349
Total expenditure
1,756,224
Net income/(expenditure)
69,882
Transfers between
funds
-
Net movement in
funds
11
69,882
Reconciliaton of funds:
Fund balances at 1 April 2023
425,880
Fund balances at 31 March
2024
495,762		 Restricted
funds
2024
£
3,700
-
-
-
-
3,700
-
-
-
3,700
-
3,700
7,595
11,295		 Total
Unrestricted
funds
2024
2023
£
£
12,383
10,093
1,776,944
1,366,964
34,777
28,974
5,156
1,917
546
144
1,829,806
1,408,092
66,875
54,645
1,689,349
1,408,563
1,756,224
1,463,208
73,582
(55,116)
-
466
73,582
(54,650)
433,475
480,530
507,057
425,880		 Restricted
funds
2023
£
-
-
-
-
-
-
-
-
-
-
(466)
(466)
8,061
7,595		 Total
2023
£
10,093
1,366,964
28,974
1,917
144
1,408,092
54,645
1,408,563
1,463,208
(55,116)
-
(55,116)
488,591
433,475

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CHRYSALIS (CUMBRIA) LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilites
Creditors: amounts falling due afer more
than one year
19
Provisions for liabilites
20
Net assets excluding pension liability
Net assets
The funds of the charity
Restricted income funds
22
Unrestricted funds		 2024
£
16,056
123,923
263,193
403,172
(83,281)		 £
258,355
319,891
578,246
(48,689)
(22,500)
507,057
507,057
11,295
495,762
507,057		 2023
£
11,583
82,258
197,696
291,537
(56,722)		 £
275,484
234,815
510,299
(54,324)
(22,500)
433,475
433,475
7,595
425,880
433,475

The financial statements were approved by the trustees on 10 July 2024.

..............................

Mrs B H Earl trustee

Company registration number 05751140 (England and Wales)

CHRYSALIS (CUMBRIA) LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash fows from operatng actvites
Cash generated from/(absorbed by)
operatons
27
Investng actvites
Purchase of tangible fxed assets
Investment income received
Net cash generated from/(used in)
investng actvites
Financing actvites
Repayment of bank loans
Net cash used in fnancing actvites
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(3,357)
5,156
(5,581)		 £
69,279
1,799
(5,581)
65,497
197,696
263,193		 2023
£
(4,961)
1,917
(5,335)		 £
(24,610)
(3,044)
(5,335)
(32,989)
230,685
197,696

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accountng policies

Charity informaton

Chrysalis (Cumbria) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Leaside, Longthwaite Road, Wigton, Cumbria, CA7 9JR, United Kingdom.

1.1 Accountng conventon

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accountng policies

(Contnued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fxed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 10% reducing balance on improvements; 1% straight line
on original cost
Equipment 33% straight line on computer equipment; 15-25% on
other equipment
Motor vehicles 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fxed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Prior impairments are also reviewed for possible reversal at each reporting date.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accountng policies

(Contnued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic fnancial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic fnancial liabilites

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accountng policies

(Contnued)

1.11 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/ (expenditure) in the period in which it arises.

1.12 Retrement benefts

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Terminaton payments

Redundancy and termination costs are recognised as an expense and a liability once the Charity is committed to terminate the employment of an employee or group of employees before their normal retirement date, or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Charity is considered to be committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

2 Critcal accountng estmates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Donatons and legacies

Unrestricted
funds
general
2024
£
Donatons and gifs
7,683
Grants
1,000
8,683
Grants receivable for core actvites
Grants receivable
1,000
1,000
4
Income from charitable actvites
Social service contracts
Social service contract and spot income
Private contracts/direct payments
NHS contracts
Centre actvity income
Outreach actvites
Churchrigg
Social service contract and spot income
NHS contracts		 Restricted
Total Unrestricted
funds
funds
general
2024
2024
2023
£
£
£
-
7,683
2,943
3,700
4,700
7,150
3,700
12,383
10,093
3,700
4,700
7,150
3,700
4,700
7,150
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
714,373
612,813
111,029
101,164
398,352
305,065
20,423
28,344
10,385
11,544
522,382
304,611
-
3,423
1,776,944
1,366,964		 Restricted
Total Unrestricted
funds
funds
general
2024
2024
2023
£
£
£
-
7,683
2,943
3,700
4,700
7,150
3,700
12,383
10,093
3,700
4,700
7,150
3,700
4,700
7,150
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
714,373
612,813
111,029
101,164
398,352
305,065
20,423
28,344
10,385
11,544
522,382
304,611
-
3,423
1,776,944
1,366,964
1,366,964

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

5 Income from other trading actvites
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Direct fundraising 2,214 3,635
Healthfood shop income 32,563 25,339
Other trading actvites 34,777 28,974
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 5,156 1,917
7 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 546 144

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Seeking donatons, grants and legacies 682 646
Trading costs
Shop costs - overheads 17,434 15,717
Shop costs - purchases 24,969 21,843
Staf costs 23,790 16,439
66,193 53,999
Total costs 66,875 54,645

The shop is run as a social enterprise rather than a profit-making enterprise, providing an important learning and training facility for the members of Chrysalis.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

9 Expenditure on charitable actvites

Social
service
contracts
Churchrigg
2024
2024
£
£
Direct costs
Staf costs
766,351
379,517
Rent
13,501
-
Rates & water
4,997
-
Light & heat
16,744
-
Repairs & maintenance
14,924
157
Insurance
15,857
-
Cleaning & refuse
11,429
-
Staf travel &
subsistence
1,323
34
Equipment &
maintenance
3,784
1,285
Minibus expenses
2,679
-
Bad debts
(655)
-
General expenses
4,283
(316)
Staf training &
recruitment
21,568
280
Actvity costs
6,059
1,079
Outreach actvites
18,853
-
901,697
382,036
Share of support and governance costs (see note 10)
Support
370,959
34,419
Governance
238
-
1,272,894
416,455
Analysis by fund
Unrestricted funds
1,272,894
416,455		 Total
2024
£
1,145,868
13,501
4,997
16,744
15,081
15,857
11,429
1,357
5,069
2,679
(655)
3,967
21,848
7,138
18,853
1,283,733
405,378
238
1,689,349
1,689,349		 Social
service
contracts
Churchrigg
2023
2023
£
£
647,192
230,430
13,499
-
4,601
-
15,839
-
8,883
-
13,639
546
13,377
-
619
56
3,868
104
2,473
-
1,023
-
6,012
-
9,691
6,135
5,461
73
22,350
-
768,527
237,344
387,843
14,649
200
-
1,156,570
251,993
1,156,570
251,993		 Total
2023
£
877,622
13,499
4,601
15,839
8,883
14,185
13,377
675
3,972
2,473
1,023
6,012
15,826
5,534
22,350
1,005,871
402,492
200
1,408,563
1,408,563

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

10
Support costs allocated to actvites
Staf costs
Depreciaton
Legal & professional fees
Communicatons & IT
General ofce costs
Finance costs
Sundry costs
Governance costs
Analysed between:
Social service contracts
Churchrigg
11
Net movement in funds
Net movement in funds is stated afer charging/(creditng)
Fees payable to the company's auditor for the audit of the company's
fnancial statements
Fees payable to the company's auditor for other services
Depreciaton of owned tangible fxed assets
Operatng lease payments recognised as an expense		 2024
£
302,531
20,485
24,590
17,025
31,882
2,628
6,237
238
405,616
371,197
34,419
405,616
2024
£
3,250
6,305
20,485
21,393		 2023
£
294,372
28,465
19,723
13,089
31,976
2,875
11,992
200
402,692
388,043
14,649
402,692
2023
£
3,100
6,500
28,465
21,393

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: none). One trustee had travel expenses totalling £213 reimbursed during the year by the charity (2023: 188).

Trustees made aggregate total donations of £213 (2023: £188) without conditions.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

13 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Centre staf
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
74
2024
£
1,355,328
91,396
25,465
1,472,189		 2023
Number
69
2023
£
1,099,629
69,710
19,094
1,188,433

Termination payments totalling £5,359 were recognised in the reporting period for a payment in lieu of notice and unused holiday entitlements.

There were no employees whose annual remuneration was more than £60,000.

Remuneraton of key management personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The remuneration of key management personnel is as follows:

2024 2023
£ £
Aggregate compensaton 183,564 177,460

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14
Tangible fxed assets
Freehold land
and buildings
£
Cost
At 1 April 2023
399,149
Additons
-
At 31 March 2024
399,149
Depreciaton and impairment
At 1 April 2023
148,236
Depreciaton charged in the year
10,312
At 31 March 2024
158,548
Carrying amount
At 31 March 2024
240,601
At 31 March 2023
250,913		 Equipment
Motor vehicles
£
£
183,753
39,340
3,357
-
187,110
39,340
167,880
30,643
8,431
1,742
176,311
32,385
10,799
6,955
15,874
8,697		 Total
£
622,242
3,357
625,599
346,759
20,485
367,244
258,355
275,484

The freehold property and all fixed assets held at these properties are pledged as security for the NatWest loan. See note 17 for details.

15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
16,056
2024
£
62,212
3,142
58,569
123,923		 2023
£
11,583
2023
£
33,850
2,992
45,416
82,258

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

17 Loans and overdrafs
2024 2023
£ £
Bank loans 54,323 59,904
Payable within one year 5,634 5,580
Payable afer one year 48,689 54,324
Amounts included above which fall due afer fve years:
Payable by instalments (23,819) (31,084)

The bank loans due to NatWest Bank Plc are secured by a mortgage over the freehold property owned by the organisation and a fixed charge over all other fixed assets held at these properties. At 31 March 2024 the total amount secured was £54,323 (2023: £59,904).

The liabilities falling due after five years includes the long-term mortgage which expires in 2031. Repayments are made in equal monthly instalments and the interest rate charged is fixed for five years at 4.59% until January 2025, then 3.67% over base rate unless otherwise agreed.

18
Creditors: amounts falling due within one year
Notes
Bank loans
17
Other taxaton and social security
Trade creditors
Accruals and deferred income
19
Creditors: amounts falling due afer more than one year
Notes
Bank loans
17		 2024
£
5,634
21,155
19,090
37,402
83,281
2024
£
48,689		 2023
£
5,580
16,864
13,728
20,550
56,722
2023
£
54,324

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

20
Provisions for liabilites
Building remedial works
Movements on provisions:
At 1 April 2023 and 31 March 2024		 2024
2023
£
£
22,500
22,500
Building
remedial
works
£
22,500		 2023
£
22,500

The building works provision relates to the expected costs required for remedial works to leased premises at the end of the lease. The timing and amount are uncertain because it is not known whether or not the lease will be renewed at it's current expiry date in March 2026, and it is not known specifically what remedial works will be required.

21 Retrement beneft schemes
2024 2023
Defned contributon schemes £ £
Charge to proft or loss in respect of defned contributon schemes 25,465 19,094

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

22 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Transfers At 31 March
2023 resources 2024
£ £ £ £
Restricted grants - 3,700 - 3,700
Minibus fund 7,595 - - 7,595
7,595 3,700 - 11,295

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22
Restricted funds
Previous year:
Restricted grants
Minibus fund		 At 1 April
2022
£
466
7,595
8,061		 Incoming
resources
£
-
-
-		 (Contnued)
Transfers
At 31 March
2023
£
£
(466)
-
-
7,595
(466)
7,595		 (Contnued)
Transfers
At 31 March
2023
£
£
(466)
-
-
7,595
(466)
7,595
7,595

Restricted grants are those amounts received for specific projects that have not been spent by the year end.

The minibus fund is the amount raised for a new minibus.

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Contngency fund
Building fund
Minibus depreciaton fund
New minibus fund
TMP garden fooring fund
Website fund
General funds		 At 1 April
2023
£
208,457
13,356
1,023
-
-
-
203,044
425,880		 Incoming
resources
Resources
expended
£
£
-
-
-
-
-
-
-
-
-
-
-
-
1,826,106
(1,756,224)
1,826,106
(1,756,224)		 Transfers
At 31 March
2024
£
£
-
208,457
-
13,356
(204)
819
7,000
7,000
5,000
5,000
5,000
5,000
(16,796)
256,130
-
495,762		 Transfers
At 31 March
2024
£
£
-
208,457
-
13,356
(204)
819
7,000
7,000
5,000
5,000
5,000
5,000
(16,796)
256,130
-
495,762
495,762

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

23
Unrestricted funds
Previous year:
Contngency fund
Building fund
Minibus fund
General funds		 At 1 April
2022
£
208,457
13,356
1,279
257,438
480,530		 Incoming
resources
Resources
expended
£
£
-
-
-
-
-
-
1,408,092
(1,463,208)
1,408,092
(1,463,208)		 (Contnued)
Transfers
At 31 March
2023
£
£
-
208,457
-
13,356
(256)
1,023
722
203,044
466
425,880		 (Contnued)
Transfers
At 31 March
2023
£
£
-
208,457
-
13,356
(256)
1,023
722
203,044
466
425,880
425,880

The minibus depreciation fund was set up to match the annual depreciation charges on the asset and an annual transfer is made from this fund to the general funds to cover that charge.

A total of £17,000 has been transferred from general funds to designated funds this year to go towards a new minibus, new garden flooring at The Meeting Place, and a new website.

24 Analysis of net assets between funds

Unrestricted
funds
2024
£
At 31 March 2024:
Tangible assets
258,355
Current assets/(liabilites)
308,596
Long term liabilites
(48,689)
Provisions
(22,500)
495,762		 Restricted
funds
2024
£
-
11,295
-
-
11,295		 Total
2024
£
258,355
319,891
(48,689)
(22,500)
507,057

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

24 Analysis of net assets between funds (Contnued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 275,484 - 275,484
Current assets/(liabilites) 227,220 7,595 234,815
Long term liabilites (54,324) - (54,324)
Provisions (22,500) - (22,500)
425,880 7,595 433,475

25 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and fve years		 2024
£
16,726
13,500
30,226		 2023
£
21,393
9,976
31,369

26 Related party transactons

Transactons with related partes

A child of one of the trustees is a resident at Churchrigg. Income for the year amounted to £49,726, with £3,657 owed to the charity at 31 March 2024.

One of the trustees, David Dodd, made a contribution of £899 to the charity towards staff training costs.

CHRYSALIS (CUMBRIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

27
Cash generated from operatons
Surplus/(defcit) for the year
Adjustments for:
Investment income recognised in statement of fnancial actvites
Depreciaton and impairment of tangible fxed assets
Movements in working capital:
(Increase) in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated from/(absorbed by) operatons
28
Analysis of changes in net funds
At 1 April 2023
£
Cash at bank and in hand
197,696
Loans falling due within one year
(5,580)
Loans falling due afer more than one year
(54,324)
137,792		 2024
2023
£
£
73,582
(55,116)
(5,156)
(1,917)
20,485
28,465
(4,473)
(2,054)
(41,665)
16,237
26,506
(10,225)
69,279
(24,610)
Cash fows
At 31 March 2024
£
£
65,497
263,193
(54)
(5,634)
5,635
(48,689)
71,078
208,870