BARROWMORE •• Barrowmore residents and staff IrhAnnual Report and Consolidated Accounts of Barrowmore Limited For the year ended 31 December 2024
Barrowmore Limited Contents of the Collsolidated Financial Statements For the Year Ended 31 December 2024 Contents Page Reference and Administrative Details RetK)rt of the Trustees Report of the Indcpcndenl Auditors 9- 10 Consolidated Stsiement of Financial Activities Consolidated Balance Sheet 12 Consolidated Ststcment of Cash Flows 13 NotCS to the Financial Statements 14-28
Barrowmore Limited Reference and Administrative Details For the Year Ended 31 December 2024 Charity Registration Number: 1117551 Con)pany RegistratlOD Number: 05988028 Trustees: Mr A W MolSOn Dr N V Fergusson Mr N A Eckersley Mr J H D Heath (deceased 21106r2024) MrJFCAmold Principal and Registered Office: Barnhouse Lane Great Barrow CHESTER CH3 7JA Chief Executive alld Company Secretary: Mr P Haycock The Charity's professional advisors are &$ follows: Auditors: Champion Accountsnts LLP 2nd Floor Refuoe House 33-37 Watergate Row CHESTER CHI 2LE Bankers: National Westminster Bank 33 Eastgate Street CHESTER CHI ILG Solicitors: Cullimore Dutton 27 Newgate Street CHESTER CHI IDE
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 The truste&s, who are also directots of the charity for the purp)ses of the Companies Act 2006, present their i'epDrt with the consolidated financial statements of the charity and its subsidiary for the ycar ended 31 December 2024 which 't also prcpgxed to meet the i'equirements for a directors, report and accounts for Companies Act pUrse$. The financial statements comply with the Chariti&8 Act 201 l. the Comp8J)ies A¢t 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charitics= Stalcment of Recommended Practice applicable to Ch'll1t5 prcparing theii. accounts in a¢¢ordan¢¢ with the Financial RetKJiting Standard applicable in the UK and Republic of Ircland {FRS 102). Directors and Trustees The directors of the ch&'itable company (the charity) are its ttustees for the purtK)se of charity law and throuJ(5 Outthis report are collectively refe1.d to &s its Irustccs. The Board of Trustees is the hub of govemance and tK)licy at Barrowmor& The trustees serving during the period up to the date of this report ivei'c as tolloivs: Dr N V Fergusson Mr J H D Heath (dece&sed 2110612024) Mr N A Eckersley Mr A W Morrison MrJFCArnold Structure, Governance and Management Governing Document The chatity is controlled by ils governing documenL a dccd of trus¢ and constitutes a limited company, as defmed by the CompoJ)ies Act 2006. Patron Ban'owmorc is cuffently seeking a nV patron for thc charity. Appointment of Neyd Trustees No otlier body is entitled to appoint tn]stces to the charity and appointments are made by invitation and election in accordance with ihe charity's policy t.or recruittnent of trusiccs. Trnstees are appointed to provide the skills identified as being necessary foi. the good governance of Barroivmorc Litnited. The induction of new tnleeS is tailorcd to the nceds of the individual but includes the provision of key documeuts and inforn)ation relating to the charity. Management Structure The operational management StructUTe of the charity has noiv been in plaee for a number of yeays. The Chiet Executive i'cports dii'ectly to the Board of Trustees and has the responsibility for the implementation of policy as Said down and ag]Eed by the trustees. Rcpoi'ting to the Chief Executive are individual managers responsible for Housing, Estate, Management, and Finance. As a charity, the requirement to maintain lil control of costs is par8mounL Consequendy, many ot our managcrs have dual roles and responsibilities within the managenient structure and use is made of outsourcing services such as public relations wherevei. necessary. Any increase in salw for management will be di5cu&sed at a directors, meeting and agreed at that iiiecting. In the case ofthe CEO'S remuneration. any increase in sa]ary will be proposed by the chainnan to the Dtrectors tor considcratioii. Risk Management The trustees have introduced fornial risk managcmcnt prncesses to assess bsInesS risks within the charity. This has involved the identification of types of risks the charity faccs, prioritising them in temis of potential impact and thc likclihood of occurren¢e and its effect on the charity's income and operationa] effectiveness. Initiated within and actioned by the anag¢tfit teani, the exercise covers all identifiable risks wsed to the effective pi'ogress of thc charity. A risk mapping exercise is undertaken within each deptmen fstlY idcntifying possible risk areas before evaluating the potcntial cffccts based upon a likelihoodlimpact MUre¢nL Risks have been identified in all areas rdnging from financia] risks such as fraud to operational risks including loss ot contracts and loss of key personnel, affecting all departments.
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 Objectives and Principal Activities of the Charity Mission Statement Barrowniore is a registered Charity wholly committed to assisting people with a disability to achieve their full potential. The object of the Charity is to promote the benefit of people rasident in England and Wales with disabilities particularly but not exclusively.. a) To provide the oppottilliÉty for meaningful employmenL b) To provide accommodation and supw>rt facililies for people with disabilities. ¢) To piDvide opportunitics for people ivith disabiliiies to achieve their tull trf)tcnlial through education, training la assessinent facilities. Thc trustecs may apply income of the charity in relieving the need. hordship OT distress of disabled persons who have been &8S18d previously by the ch'Ity and their depcndcnts" and the dependents of pei'sons who. at the datc ot"their death, Ivei'e being &8SiSted by the charity provided that in each case preference shall be given to disabled peon5 who have served in Ihe amied forces of the Crown. The Vision BatToivmore ivill always pi'ovide the highest quality of care and support and quality of life foi. an increasing nuniber of people with a disability in the North WesL To provide the highesi quality support facilities for the development of people with a disability to achieve their full potential throu¥) trdining and &ssessmenl facilities. To provide more opwrtt]nities for mcaningful employment for Ople with a disability on the BaJToivmore sit¢ and through the Wo Choice Programme. To increase the profil¢ of Barrowmore and its activities to attract the fimding and inveslmerkt requircd from whatever source to achieve those objectives. What we do Barrowmore achieves its aims in ternis of thc provision of meaningful employmenL sup]x)rted housing. one to one tailored training and development ot vulnerable people with disabilities. BaOlYMore 11&5 never dered the disabilities ivith which ive deal. Consequently our beneticiaries may suffer frt)m physical disabilities, mcntal health issues, sensory impairnient or be wheelchair users. In addition, the vast majority suffer from a learning disability. Further. the majority of our residents have lifestyle issues which, in addition to their disability, require a high levcl of undcrstanding and management by the staft. In attcmpting to provide the best possible support for our people, whether it be in the field of employmenL accommodation or trdiningy we have developed relevant information systems to asstss and benchEnark our progress. Residents Residents enjoyed lots of social events in 2024 including holidays Éo Butlins in Skegness, Haven Holiday Park in Poithmadog. to watch the final match of the season at Chester FC. BBQ'S, quizzes. bingo. p(KJl competitions etc. In addition. thc residents have free haircuts and free chiropody every 6 weeks Employment The Departmcnl's nciv contracting 8J)d commissioning proccdurcs prccludcd many chw'ities and voluntary orgolSatiOn throughout the country from participating in the new Scheme. En the case of BaTTowmore this was despite its 80 year ti?ck recoi'd in Suppoi'ted Employment. Shaw Trust ivas appointed Prime Contractor for most regions and subcontractors wcrc named, in the inain. by Local Authorities. Bari'owmore Continues lo employ vulnerable pcople as the funding Bam)wmore staff used to receive from Cheshire West and Chester for I l Barrowmore employecs from the Supporting People contrdct cwed in October 2015. Housing Barrowt]iore House is an establishment located on the Barrowmore site providing high quality supportcd accoii)modation for 39 people with disabilities. Barrowinore as part of its review in 2015 identified unuscd stOTage roomJlunderutilised areas to inci'easc the overall numbei. ot rcsidential rooms to 42 from 35 to offset the impact of CWAC cuts of £328,000. Supporting People is a dynamic programme encolwing people to become more independent and. in 2006, the charity idcntified the problem ot a shortage of appropriate move-on accommodation in the Chesw area for people with a disability, to live iiioi'e independent lives. The tn]stees thereforc sanctiOTbed a development of 14 bungaloivs to provide much needed interim move-on accominodation for residents of Barrowmore House and other similar eslablishments. This was named Barrowmore Court and ivas completed in November 2008 and is currently full to capacity.
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 Volunteers Volunteers in 2024 we reccivcd teams from Lloyds Bank. Bank of Scotland. The DWP and RSM totslling 127 volunteeis. Public Benefit Thc ts'ustees confirm that they have: when and ivhere neSary to do so, paid regard to the Cliarity Conllni5skon's Guidanee on Public Benefit when con5idcring and making its decisions. Supported housing and supported living that is offered to ovcr 60 residents at Bamwmore continues to further the charity's putpose. En addition this has an overall wsitive impact on the local community as a lot of the iesidents have social issues d)at could potentially cause disi'uption. From a financial pei'spective it would also cost more. ii,hich would be paid for frotn the public finances, if the services that are offered at Bam)wmore were to ccase. The parklands. w(K)dland walks and social enterprises such as the Cafe are open to the public lo use and enjoy. Achievements and Performance Supported Employment Bari'owmore einploys 4 people in a supported capacity and self-fimds due to all ordnts and programmes being withdrawn trom the local authority since October 2015. Supported Housillg BarrowOre House continues to provide a much needed provision in tern]s of SUPEK)rting vuinerdble people with a disability and assisting ils residents towards amore independent lifestyle. Notonly does the provisioii Inakc adiftereii¢e to people s lives, it pi'ovides majoi. cosi bcncfits to the community. An exercisc undertaken in 2010 showed that the Barrowmorc House provision saves the Loc Authority. the PCT and the National Hcalth Scrvi¢e, a significant amount of money. However the Suppoitina People contracts throughout Cheshire were due for renewal in March 2014 but this was extended until 31 March 2015. The Supporting People contract was aNvarded to Stottham Home group. Five Barroivmore employecs who were in Supporting Peoplc iiilcs TUPE'd over to Stonham Home Group or took redundancy. Stonham Home group now offer Byowm0re residents "'Floating Support" The cutTent contract cxpired iyith CWAC and Stonham Homegroup 3 1st Mar¢h 2017. The conti'act was then awarded to Forviva who are a part of Forutn: the new contract started on I st April 2017. Forviva met with Bari'owjnore 14th May 2018 to COnfn thatthey were withdrawing services with Barrowmore as fiDm 3 1st May 2018. The two Forviva cniployecs that were workina 5 days a wcck onsite at BwMOre otyerino Floating SuptK)rt left at the end of May 2018. we no longer have any assistance from CWAC or Forviva in relation to SUPFM)rt tor our rc5idcnts. Barrowmore Court, the charity's interim movevon accommodation project continues to provide a service relevant to the needs of the service users. Despite fi]nding being unavailable lor the ongoino supp)rt and dcvclopTnent of the individual residents, progress continues to be made in equipping the residents for a final niove to independcnt living. Barrowinore, as a long terin aitn, seeks lo offer a floating support scrvice to all its fomier residents when required. Including the four refurbished bungaloivs in Robinson Close, Barrowtnorc can noiv offer 62 supwrtcd r(M)mslflats on site in addition to houses on Irons tAne which may become available. All servicc users, whether long or short terni rcsidents, are given training and inslNction in developing their living skills to pi'omote a more independent lifestyle wherever w>&siblc. Our service users, whether in Barrowmore HOUK Barrowmore Courtor Robinson Close, arc cncourdged to partake in all the activities provided under the Supported Hollsing ba[er. A Social Committee is in operdtion. organising visits and events on a regular basis and members of the Residents, Conunittee continue to meet monthly with the Chief Exccutive 8J)d the Housing Managci. to raise any matters, sugg&stions oi. indccd 0Y grievances ivhich they may have. Maintenance It is recogniscd that the assets ofthe charity requirc a greai deal of care, attention and cxpcnditure each year in respect of maintenance and rcfurbishment: particularly the business units within the Enterprise Estate ivhich are now in excess of eighty years old. In the main this ivork has been undcrtakcn by external contractors but with our own maintcnmnce team and a training progrdmnie in place, the benetits of utilising our owi laiK)vr on some maintenance &%pects are two-fold. some Cost savings and thc opportunity for our disabled employees to Icarn new skills. It is therefoi'e a medium tenn objective to upgrade the units, including wssible replacement of roof4 to ty and ensure that the Estate provides a healthy incoine rather than a diminishing asset in ternis of profitability as It has done for soine years now. As well &$ continuing to provide the charity with a source ot-income it can provide and maintain a role in supporting rural cmployment.
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 Parkland IiTeSPCCtive of ils responsibility in tern)s of the charity, thc dIrecTS aTe aware of its stewardship mle in respect of B.1wOre Eslale and its SpOnsibl11ty to ensui'e that the environment is niaintained to the highest p)ssible standard. We contiiiuc lo woi'k ivith a number of organisations such as Cheshire Wildlife Trust, FWAG and Flintshire Woodland, who have undertaken suj'vcys to identify the ways fon¥ard in managing and maintaining the conservaiion aspect of the estate in a correct manner. It should be acknowledged that the cost of maintaining the grounds and propertics of the chority are extremely high and tlie tn]ste£s are currently looking at fomis of income to help off5ci this expenditure. Residentxal Estate Rentals from the residential properti£s on Irons Lane, Barrowmore Court and Robinson Close, somc of which are also included within supportcd housing, provide EK)th income generdiion for the tiinding of our activities and also provide accominodation for some of our people with disabilities who are able to Icad a more independent lifc than those who live in Barrowinorc House. Any of oui. properties becoming vacant are let with thc provision that preference is given lo people with disabilities. On this basis, Cheshii'e West and Chester {social services) are nolifsed of any vacancies and given a certain time scale to idciitify clients who may be suitable for this type of accommodation. With the problems outlined rcgarding the lack ol. move-on accommodation under Suppoiting People. the possibility of using vacant properties as half-way accommodation. with floating support, be¢oines more importanl. The chw'ity currently owns 14 houses on Irons Lane. Redevelopment of the Estate During 201 S the Charity was approachcd by a development company to pur¢has¢ an area of soine 3.1 acres on the west side of thc cstate for the provision of residential properties. This proSaI would offer the charity the opportunity lo i'edevelop the cast side of the estate. It is w)ticipated that if succcssful, the redevelopment would include a refibIshmcnt of a number ot"business units together with enhancement of facilities covering both charitable and income generdting pUrseS, along with an element of social enterprise. During 2016 Bloor Hotnes decided not to pursue this oplion and as a result thc plat%£ application was ivithdrawn. Barrowmore instructed architects to look at a number of diftcrent schemes to be draivn up for public consultation. The Opeii Public Consultation Ivas held at the Barrow Primary school for scvcn days during February 2018. The community had the opportwiity to look at six diffei'ent schemes, five domestic schetnes and one commercial schcmc. The community also had die opwrtunity to vote for theii. pi'eferred SChne. Barrowtnore have now submitted a new applicaiion to the Planning Otliccr ivith fewer units a]id an appropriate mix ofhouses that align with thc Parish Council's Neighknurhood Development Plan. Another Planning Application is to be subiDltted in June 2025. Bluebell Café The Bluebell Cate at BTowm0re opened its doors in November 2013. Primarily to offer a service to the businesses on the Enterprise Estate and the community of Grvdt Barrow and the surrounding are&s, as well as providing employment for 8 stsff and numerous voluntccrs over the past 9 years. Thc Blubell Cafe has had a Inajor wbsitive iinpact by promoting the Chwity {Ba)Towmore) and bTinging on average over 300 customers per week to the Barrowmore Estatc. As a result the charity has receivcd somc srtlall tnonetary donations along with lots of donated items such as furniture and clothing foi. thc residents in BTowmOrt Housc. It was envisaged that the Bluebcll Cafe was never intended io make a profit for Barrowinore Ltd, it was initially set up to pi'ovide a service to the 24 businesses on the Enterprise Estate and to serve the loca] cotnmunity as a local hub for all io enjoy with its beautithl location situated within the parkland of the estate, and has proven to be an cxcellent marketing tool which has helped enhance the reputation of the charity. Barrowmore Enterprise Estate The Enterprise Estate continues to provide a level of income to otTsel the costs of thc service provision and activities with which the charity is involved. At the time ofwriting ail of thc busine&% units are taL"en and our main difficulty is to ensure that adequate n)easurcs in temis of Jnaintcnance are taken to ensure that the units are kept in a good state of repair and continuc to provide a level ot incoiiie. Ovei. the past few years over £150,000 h&s been bpenl on the maintenaTrce of the services infrastructure. Back in 200718 a majoi. excreise ivas undeitaken to examine and renuv a significant amount of electrical wiring on the estate to ensure coinpliance with CU]Tcnt legislation. As mentioned earlier. it should be noted that the financial retums frnm the Enterprise Estate are declining due to the heavy maintenance requirement and it has been recogniscd that because otthis. the Enterprise Estate in its presenl State would have a limited life but if the development plan aEK)ve is approved part of the revenue received could be uliliscd to accelerate the upgrading of the facilities.
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 Financial Review Summary of Year Eud Position The Statement of Financial Activilics (SOFA) for 2024 is set outon page I l and shows the analysis of the ¢hartty's incomingresources and expenditure of those resources. The management of the charity is always conscious of the need to maintain costs at a manageable level and it is pleasing lo report that in a time of such change and development this is being achieved. The trustees are providcd with management accounting inforniation quarterly and cashtlow on a monthly b&8iS to ensure that they are Ily aware of the ongoing financial status of the orgatitsation. oroup deficit before revaluation gains The results foi. the year show the Gmup's reserves are £9.324.482 (2023- £9,479,187) with a . in the ye. of £154,705 {2023 - £131.919) and a deticit aftcr rcvaluation gains of £154,705 {2023 £1,328,881 surplus). The ts'ading subsidiary, BarLDwmorc Social Enterprises Limited, produced a loss of £7,009 (2023: £4,776). The principal funding sources come in the way of individual rcsidents who are either self-funders or who receive a nuinber of individual benef5ts such as Housing BenefiL Disability Living Allowan¢e, Personal Independcnce Payments. and Carers Allowance etc. Income trom this arva is consistent ivith last year. Total income has increased by £58,407 {4.80/0) overall Ivhich is due to an increase in the monthly I'cntal aiiiounts ivith rents on the investment propcrties being incre&sed and housing benetit for supported accommodation being raised, both as a result of the increascd eypenditure incurred. There has been a £71.710 (5.4Yo) inc&e in expenditure during the year due to an increase in prices across the bo.d. notably electricity, inswance and staff wages. Reserves Poltcy The tn]stees and managctnenl continually review the level of rcscrvcs required by the charity- The charity aims to have free reserves which 't those unrestTicled funds not invested in filed assets. The trtlee$ consider that as a relatively small charity with a tairly predictable income stream and ivith averdgc monthly outgoings of und. £IOO.000 thai the short lo medium term t&-get for liquid assets at the end ot-any given month should currcntly be sei at £200,000 to £250,000. The charity reduced its free I'cserves posilion in the year to £439,667 at 31 tkceTnber 2024 (2023: £537,170) and is still in excess of its target free reserves. Restricted funds at the ycar-end amovn*d to £23,000 {2023 - £Nil) &s the chlty received a restricted donation in the year ended 31 Deceinber 2024. There are cuentlY no designated funds. Plans for Future Periods The Board has Ircognised that in addition to accessing resources in tertns of competitive tendering, partncrship woi'king with other similar minded organisations presents o ivay of p(M)ling r&sources and spreading risk Further, partnci'ships i¥ith commercial organisations with an etnpathy with the aims and objcctivcs of Barrowmore would prove benefi¢ia] to bothparties. Barroivmore recognised the need to mov¢ forward by d&ver5ifying and adopting social entetvrisc and regenerntion. Chairman's Thanks It has been a pleasure and an honour to continue to undertake the role of chairman of Barrowmore in 2024. That role is made so much easier by the fact that the charity ha3 a Ixjard of significant collective experience and very high-quaiity individual skills Coveiing aspects of the business and social aspects of the charity. As thesc highly professiona] skills and the time given by the trustees are on a voluntary basis, I tharth them once again on behaEf of BarroivJnore for their continued cotwnitted 5UPPOlt dw'ing 2024. We lost our dear friend and fellow Dircctor Mr. John Heath in November. John had been a very active hands-on Director for ovei. 18 ye'S, and he will be sadly tnissed by all at Barrowmore. We also lost our dear friend Gill Fullwood wlio regularly volunteered at Bamwmore in particular workin¢F many hours on the allotment and &SSiSting with the hundreds of volunteers that attend the estate each Ye.. Gill will also be sadly missed by ail of the staff and residents . Memorials will take place for John & Gill in 2025 with ben¢hes and plaques to commemorate thcm both. Mr Haycock and his staff are agatn to be thanked and congrawlated on the continued advances that they have made again in respect of the overall performance of the organisation. In particular uiith the general eonlinued increased cost of living. The ongoing significant chonges that continued durAng the past ycar continued a positive and creative approach that the Bari'owmore tcam have bttn able to create an environment of achievement in sectors of the business. During the past yvdl., the I'csidcnts have enjoyed numei'ous in-house activilics such as quizzes. bingo. ]x)ol competitions. ar¢l)ery and BBQ'S etc. In addition, ti'ips to
Barrowmore Limited Report of the Trustees For tbe Year Ended 31 December 2024 Chester FC, lo watch the world professional Wclsh Open sker quarter finals in Llandudno along with a holiday to Haven Holiday Park in Porthmadog. The residents enjoyed trip5 to the town centres and the beach. All these ongoing activities have been insti'uinental for the wellbeing of our residcnls, and ive see improvements with r&8idents becoming more confident and independent on a daily basis. Continued woi'ks has been completed to the residents. rooms in Barrowmore House, full refvrbishments to include, new bathi'ooms suites, tull rcdccoration along with new flooring. In addition iyorks hayc bcen complefrd to propeities in Irons Lanc, B.1'Owm0re Court and Robinson Close to include new fitted kitchens, bathri>oms ncw flooring and fvll redecoration and external UPVC Mrindows and doors in Irons Lane. It h&8 been very encouraging that we have through continucd prudent m8J)agement been able to see our c&8hflow levels continue to incrcasc each year and to help achieve one of our critical aims ot- achieving a more comfortablc protective financial status for the charity to enable us to withstand any exceptional major cha]lenges whÈlst continuing lo achieve our social aims as stated aly)ve. On behalf of myselt.and my fellow directors I should like ¢0 expttss our gratitude to Mr Haycock and the staff that have continued to work throughout 2024 and thc ongoing Commitment to the residents and tlie charity &% a whole and for the very professional Inatmei. in ivhich they have addressed all challenges in 2024. Trustees, indemnity arrangements Individual indeinnities have been providcd the ttustees. under which the conipany has weed to indemnify the trusLecs to the extent pei'tnitted by law in rdspect of liabilities to third partias arising out of, or in connection with. their aiecution of tlieir powers. duties and responsibilities as trustees of the company. These indeTnnities are qualifying Tliird Paty Indemnity Provisions as defined in Scction 236 of thc Companies Act 2006 and copies arc available for inspection in the oificc during normal working hours. Auditors The auditors, Champion Accountants LLP, have indicated their willingness to be r¢apwinted at the AGM. Statement of Trustees Responsibilities The chai'ity Irustccs (who are also the directors of Barrowmore Liwnited for the purpose of Company law) responsible foi. pi'eparing the Report of the Tnle¢S and the t-llwicial slatemcnts in accordance with applicable laiv and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accouniing Prnctice)- Company law requires thc trustees to prepare financial statements for e&ch fLnancia] year which give a true and fair view of the state ot" aftaii's of the charity and the group and of the incotning rcsources and application of resources, including the income and expenditure, of the charitable group for that period. In prcparing those fmancial statements, the trustees e required to.. select suitable accounting wlici&8 and then apply them consistently" observe the methods and principles in the Charities SORP 2019 {FRS 102). make judgements and estimates that are rc&wnable and prudenL state wlicthcr applicable UK Accounting Standards havc becn followed. subject to any material departures disclosed and explained in the financial statements. pi'epare the financia] statetncnts on the going concern basis unlS it is inappropriate to presume that the charity iyill continue in operation. The trustees are resnsIble for kecping adequate accounting records that disclose Ivith reasonable aCc'aCY at any time thc fanCIal position of the charitable group and cnable 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 the group 8nd hence taking reasonable steps ftir the pi'evention and dcteetion ot Iraud and other irregularitics. In so far &$ the trustees arc aivare, al the lime of appTh)vingourlnL5tec5' annual [)1. there is no rclevant audit information of which the charitable comp8J)y's audito are unaware- and the trustees have taken all steps that they ought to have taken to makc thcmselves aware of any relevant audit infoi'mation and to establish that the auditor is aware of that infortt]ation.
Barrowmore Limited Report of the Trustees For the Year Ended 31 December 2024 This rcpoit has been prepAred having taken advantagc of thc small companies exemption in the Companies Act 2006. On behalf of Ihe Board: Mr A W Morrison Trustee 20 June 2025
Barrowmore Limited Independent Auditors, Report to the Members and Trustees of Barrowmore Limited For the Year Ended 31 December 2024 Opinion We have audited the accounts of Bamm'morc Limited (the "charity,) and its subsidiary (the 'group') foi. the year ended 31 DeccTnber 2024 which comprise the Consolidated Ststement of Financiat Activities, the Consolidatcd and P.ent Balance Sheets, the Consolidated Statement of Cash Flow and the notes to the accounts, including a summary of significant accounting policies. The fin3ClaI reporting framework that has been applied in their prepardtion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicablc in the UK and Republic of li'eland (United Kingdom Generally Accepted Acci)unttng Prncticc). In our opinion the accounts= give a true and fair view of the state of the group's and charity's affairs as at 31 Dcccmbcr 2024 aTÈd of the group's inconiing I'esources and application of resources. including its incoine and expcnditurc, for the year then ended,. haiie been properly prepared in accordimce with Uni(ed Kingdom Generally Acccpted Ac£ouiiting Practice; and have been prepared in accordance with the requirements ot-the Companies Act 2006 and die Ch'itIeS Act 2011 Basis for opinion We conducted our audit in accordance ivith Intemationai Standards on Auditing (UK) (ESAS (UK)) at]d applicable law. Our I'esponsibililies under those standards are fvrther described in the Auditorfs reswnsibilities for the audit of the financial slateinenls section of our report. We 'e independent of the group and charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK: including the FRC'S Ethical Standard, and ive have fulfilled our other ethical responsibilities in ccordance with these requirements. We believe that the audit cvidencc we have obtained is sufficient and appiDpriate to provide a basis for oui. opinion. Conclusions relating to going conce In auditing the tknancial statements: we have concluded that the trustees. use ofth¢ going concern basis of accounting in the preparation of the financia] statements is appropriaie. Based on the work we have perfornied, we have not identitied any materia] unccrtainties rclating to events or conditions thaL individually or collectively. may cast significant doubt on the charitable cotnpatky's ability continue as a going concern toi. a period of at least twelve months froin ivhen the financial statements are authoriscd for issue. Our responsibilitics and the responsibilitics of thc tru5tces ivith respect to going concem are described in the relevant sections ol.this report. Other inform2tion The other information comprises the information included in thc trustccs, a[Ual rew>rL other than the financial statements and our auditor's report thereon. The trustees arc responsible for thc othcr infom]ation contained within the annual re]x)rt. Our opinion on tlie financial statements does not cover the other infom)ation and, except to the extent otherwise explicitly stated in our report. we do not express any form of &ssurance conclusion thercon. Ow. rcsponsibility is to read the othcr inforn)ation 8J)d, in doing so. consider whether the other infoiination is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othcrwise appears to be Materially misstated. If we identify such maleiial inconsistencies or apparent mat-la] misstatemcnts: we are required delern)ine whether this gives rise lo a material misstatement in the fmanciai statements themselves. If. b&scd on the ivork we have perforn)ed, we conclude that ihere is a materia] misstalement ot this other inforniation. we are required to rcFrf)rt that facL We have nothing to rewrt in this regard. Opinions on other matters prescribed by ihe Companie5 Act 2006 In OLll' opinion, based on the work undertaken during the audit: the infonnation given in the trustees, report (incOrratIng the directors. rewrt) for the financial year for which the financial statements are prepared is consistent with the linancial statements; and the directors, rcFK)rt h&% been prepaTed in accordance with applicable legal requirements. Matters on which we are required to report by exeeption In light of the knowledge and underytanding of the group and parent charitable company and its cnvirorment obtained in the cow'se of the audit, we have not identified material misstatements in the directors, reporL We have nothing to report in respect of the following mattcrs in relation to which the Companies Act 2006 and the Charities Act 2011 require us to rew)rt to you if, in our opinion: adequate and sufficient accounting records have noi bccn kept by the partt charKtable company. or rernS adequale foi. our audit have not been received fmm bran¢hes not visited by us. or the parent charitable company's financial statements are not in agreement with thc accounting records and returns. or certain disclosures of dircctors, reTnuneration specified by law are not made: or we have not received all the inforn]ation and explanations we require for our audit. or the ts'ustees were not entitled to preparc the fu]ancia] stateTnents in a¢cordance with the small companies, regime and take advantage of the small cotnpanies, exemptions in preparing th¢ direc[3. report.
Barrowmore Limited Independent Auditorsy Report to the Members and Trustees of Barrowmore Limited For the Year Ended 31 December 2024 Responsibilitie5 of tTUStees As explained more fully in the Statement of Tfttees' Res¥M)nsibilities, the tNstees' (Ivho are also tl)e dii'ectoi's of the pai'ent ¢l)arilable conipany for the purposes of company law) are responsible for the preparation of the fuwicial ststements and for beiiig satisfied that they give & true and fair vieiv, and for such internal control &s the tn]slecs dctci'minc is neccssary to enable the preparation of financial slatements that are free from material mi&statemenL whether due to fraud or error. In preparing the financial statemcJ]ts, the trustecs arc r¢SnsIble for a&5tssing the group's and charity's ability to continue as a going concern, disclosing, as applicable, matters rclatcd to going concern and using the going concem basis of ac¢ounting unless the tti]stees either intend to liquidate the group or the charity or to cease operntions. or have no realistic alternative but to do so. Auditor's responsibilities for the #udit of the finatteial statemellts We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011. Our objectives are lo obtain reasonable assurance atoutwhether the t-anCIal statemenL8 as a wholc are free from iiiaterial misstalement, wliether due to fraud or error. and to issue an auditols rewrt that includes our opinion. Reasonablc assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance ividi ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise trom ti2ud or error and arc considercd material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the b&sis of these finaJ)cial slatements. The rdsponsibility for the prevention and detection of irregularitics, including fraud, lies witli the trustees and with those Ch.ged with governance ofthe chlty. The objectivesof our audit in respect of iegular1t]eS and fraud are to assess the risk ofmaterial misstatcincnt of the financial statements duc to frau to obtain su1¢]ellL appropriatc audii evidence reSdIng the assessed risks and to respond appropriatcly to fraud or suspected fraud identified during the audiL We determine significant applicable laws and gulationS through discll&sion ivith those charged with govciijance of the chaj'ily and our oivn knowledge ol.the charity sector and design audit procedures to help identity instanccs of non-compliance with those laws gnd regulations that may have a material effect on the financial statements. We consider the applicable laws artd regulations to bc the financial rctK)rting framework (FRS 102 and the Companies Act 2006), Ch'Ity Law, the relevant tax regulations in the UK, ctnploytncTtt law, the Heth and Safety at Work Act 1974 and Sateguardinu legislation. We consider the control environment and the procedures in place to address identified risks, including managemcnl override, non-compliance with laws and re¢Julations and to prevent and detect fraud or irrcgularity. Our procedures are designed to provide reasonable 8ssuran¢e that the financial statements are free from material misstatement or crroi. include: enquiries of nianagement and of staff in key compliance fimctions. revieiy of mirLUtes of tncctings of thosc Ch0ed with governance. review and testing of manual journals and significant transactions outside the normal course of business; review of financial statement d&sclosures and testing to suppoiting documentation. pcrfoiinance of analytical procedures. We are not responsiblc for prcventing non-compliance and due to the inherent liinitations of an audit, as describcd above. the audit cannot be relied upon to de¢t all insEances of non-compliance with laws 2nd regulations. A ti]rther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http://www.frc.org.ukJauditorsresponsibilities. This description forn]s part of our auditols rcporL Ust of our report This report is made solely to the charitable company's mcmbers, &% a body, in accord8nce with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company's trustccs, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertsken so that we might state to the charitable company's members and its 'ustees those mattcrs we .¢ required state them in OJ) auditors. rewrt and for no other purpose. To the filest extent pcrmittcd by law, Ive do not accept or assume reswjnsibility to anyone other than the charitable company and thc charitable cotllpany's Inembers as a body oJ)d the ¢harilable company"s trustees as a body, for our audit work, for this rcporL or for the opinions we have forn)ed. Andtu 1% Andrew Hopwood Bse (Hons) FCA Senior Statutory Auditor Foi. and on behalf of Champion Accountants LLP Statutory Auditor 2° Floor. Retuge House, 33-37 Watei'gatc Row CFESTER CHI 2LE Champion Accountants LLP is eligible to act as an auditor in terms of Section 1212 of the Cotnpanics Act 2006. Date: 20 June 2025 10-
Barrowmore Limited Consolidated Statement of Financial Activities {IDcorporating An Ineome and Expenditure Accollnt) For the Year Ended 31 December 2024 2024 2023 Unrestricted Restrictrd Funds FuniLs Totsl Totsl Funth Funds Notes Income 9nd endowments from: Donations and legacies 5,168 23,000 28,168 1,259 Charitsble activities Supported aCco[llndatjn 627.634 627,634 650,775 Other trading activities 184,461 184,461 173,979 Investments 430,113 430,113 38i,956 Total income and endowments .247.376 23.0(K) ,270,376 1,211,969 Expenditure on: Raising fiEnds SubsId- cost ofsaks Subsidiary- operdtiE Costs 72.764 117,744 71764 117.744 70,821 98,917 Charitsble activities 910.581 910,581 848,991 Other_ Cost of managing invtstments 314,186 314,186 324,836 Total expendilure 1,415.275 1,415.275 ,343,565 Net gains on investments 13 1,078,000 Net income (167,8991 23,000 (144,8991 946,404 Transfers between funds 19 Other recognised gainsl(lo&ses): - Gain5 on revaluation of freehold prnperty - ActU8rial gainsloosses) on defined benefit perlOn platL% 382,800 (323) 18 (9.8061 {9.8061 Net movement of funds (177,70)) 23.000 (154,705) 1,328,881 Reconciliation of funds - Total funds bn)ught forward 9,479,187 9,479,187 8,150,306 - Total funds carried fornrd 9,301,482 23,000 9,324,482 9.479,187 There art no recognised gains and losses other than as stated alM)ve. All income and expenditure derive from continuing Mctivities. The notes forni part of thesc fukan¢ial statements. 11-
Barrowmore Limited Consolidated Balance Sheet For the Year Ended 31 December 2024 2024 Grnup 2023 Gmup 2024 Company 2023 Company Notes Fixed assets Tangble assets InVeStn5 - Investments n subsKik4rrs - Investment prope]ty 2.973,815 3,054,017 2,970,174 3,046,269 3.12 13 5.888.0(M) 5.888,000 5,888,000 5,888.000 8,861.815 8,942,017 8,858.175 8,934,270 Current assets Stocks DebtotS Cash al bank IMtKI 14 15 5,049 163,227 476,986 3,067 106.430 598,063 3,722 184.405 475,074 1,950 124,J89 596,803 645,262 707,560 663,201 723,142 Liabilities Amounts ting ivithEI orr year 16 (172,i32) (16i,527) (163,162) (156,703) Net current assets 472,7JO 542,033 500,039 566,439 Total assets less current liabilities 9.334,545 9,484,050 9,358,214 9,500,709 Defined benefit peslo scheme liAbility 18 (10.063) (4,863) (10,063) (4,863) Net assets 9,324,482 9,479,187 9,348,1 $1 9,495,846 The funds of the charity: Unrestiyted fiuKIs: - Genernl tiwKI - RcthtK)n resernt 20 19 19 8.2J4,724 1.066,758 23,0(M) 8,388,923 1,090.264 8,258.393 1.066,7i8 8,405,582 1,090,264 Restricted Ome fixx15 19 23.000 Total funds 9.324,482 9,479.187 9,348,151 9.495,846 The tnjslees have prepared group accounis in accordance ivith Section 398 ofthe Companics Act 2006 and Section 138 ofthe Charities Act 2011. Thesc accounts preped in accordance with the special provisions of Port 15 of the Companies Act relatino to small companies and constitute the annual accounts required by the Companies Act 2006 and for circulation to membei's ofthe company. The financial statements were approved by the Board of Trustccs on 20 June 2025 and were signed on its bchalt by: Mr A W Mori'ison Company Number . 05988028 The notes fom) part of these financial statctnenls. 12-
Barrowmore Limited Consolidated Statement of Cash Flow For the Year Ended 31 December 2024 2024 2023 Cash floms from 0rAting activities (524,851) (451,883) Cash IIoMs from investing acthities Rent received Setvice at¥1 rechargeab expenses Paynrrts tr) acqure langbk frxed assets Bank interest received Cash floms frnm fmxncing actsvities PeAsK>n sche eXpeS Repayment of pen8K)n defrit 298,194 131,920 (21.733) 263,192 119,723 (2,574) 3,041 (4.606) (4,606) Ia{deCre&e) in e&sh aNI c&sh equivakrt8 (121,077) (7J.107) Cash aNt cash equtvakrt8 at the beg1 Oft yea 598,063 671.170 Casb and Cash equivglents At the end of the ye2r 476,986 598,063 Reconeiliation of net incomillg reSoUtS befo trAre to ne¢ casb floivfrnm operdting 8ctivitie5 Net m0Vennt of finds Depreckn2tK)JVlmpauinert cEwges {IreaSeYdeCr9se stock {IncreaseVdecrease N) debio Increasel{decre&8e) wl creditors L£ss.' Unrea]Bed on i]VeStnnts Less.. Unreabsed tt lrfj on iEVdiuKjn offreelK)&l propety l£ss.' Actwiat (gai)Vk)ss on defvd ber£liL pe)n p L£ss." Rer* received L£ss: Setwe and rechargeabk expeeS Less: Barf( M]teSt received (li4,70i) 101,93) (1,982) {56,797) 7.005 ,328,881 88,758 (1,450) (9,277) {12,362) (1,078,000) (382,800) 3?3 (263,192) (119,723) {J,041) 9,806 (298,194) (131,920) Net cash fjow from operatTr acti[ (524,8) l ) (451,883) An21ysis of changes in net (debt}Ifunds At l Jgn 2024 At 31 Dec 2024 CaslffloHs Cash at bank aTbJ lli haThl 598.063 (121,077) 476,986 Total Funds i98,063 {121,077) 476,986 -1
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Aceounting Policies Aeeounting eonvention The financial statements have becn prepared in accordance ivith Accounting and Rewrting by ch1t{es.. Statement of Recommended Practice applicablc to charities preparing their accounts in accordance ivith tlie Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102), Charities SORP (FRS 102) and the Companies Act 2006. Barrowmorc Limited meels the definiiion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in thc rclevant accounting policy note below. Thc flnancial slalcments are prepared in sterling, which is the functional currency of the charity. Monetaiy amourils in these financial slalements are rounded to the nearest £. Basis of consolidatio The Consolidated Statement of Financial Adivities. the Consolidated Balance Sheet and the Consolidated Statement of Cash Flows include the financial statements of thc company and its subsidiary underlakings made up to 3 1st Dcccinbei. 2024. There are uniform policies across the group and ints7 group trdnsactions are eliminated on consolidation. Consolidation is on a line by line basis. A separdte Statemcnt of Financial Activities and In¢onie and Expenditure Account for the charity has not been presented because the charity h&$ tskcn adVatage of the exemption afforded by Section 408 of the Companies Act 2006. Going Concern The tt'ustees feel that Barrowmore is well placed to negotiate the challenging conditions currently facing the UK econoiiiy. The ch'ity'S income, in the main, is government fimded by Cheshire Wcst & Chcster via Housing Benefit payinents and its CU)Tcnt level of eash is posilive. Its t-reetId propety is uneticumbcred, which gives the trustees comfort in being able to mcct thc Charity's liabilities for the coming 12 nionths. In reaching their conclusion, the trustees have considcred the company's monthly c&sh flows and applicd sensitivity analysis as appropriate. Barrowmore"s income is 65 /0 residential and 35 /0 commercial. Barrowmorc arc actively secking funding from grants from extern sources. After consideration of ail factor& thc ttusiees eontinue to adopt the going concern basis in preparÈng the flnancial statements. The funds of the cbarity Uni"estrictcd funds are thosè funds for use at the discretion ot thc trustees in rthernce of the gen71 objectives Ot"thc charity. Restricted tunds e those fijnds which are to be used in accordance with specific restrictions imposed by donors. IntomiNg resources All incoming resources are includcd on the stsMent ofFinancial Activities when the charity is legally entitled to the incoine and the amOLt can be quantiticd ivith reasonable accuracy. Investment income cotnprises rents receivable. service and rechargeablc cxpenses and interest on wh balances, and is recognised on an accnthl basis. In respect of"Other trading activities. revenue represents the amount received or receivable for goods and services sold during the ycar, exclusive of Value Added Tax. Revenue is rccogniscd in the financial statements when the goods are sold to tlie customer. Cafe soles are made in the United Kingdom and are usually in cash or by debivcrcdit card. Donaied services and facilities are included at thc value to the charity ivhere this can be quantified. No amounts are included in the financial statements for time donatcd by voluntccrs. Resources expellded Expenditui'e is accounted tor on an accruals basis and is recognised where there is a legal or constructive obligation to pay.. Raising funds includes costs of costs of non-charitable trading. Cost of charitable activities relate to the work carried out on the core purpose of assisting people with a disability. Governance costs comprise all costs involving the public accountability of the charity and its compliance witli regulation and good pi'aclicc. Wherc govcrnance costs ca]mot be directly attributed, they are split 65 /D across charitable activities and 35 /0 are allocated to 'Other- Cost of managing investsncnts,. SupEK)rt costs are those costs incurred directly in suptK)rt of expendfftture on Ihe objectives of the charity. Where support costs cannot be directly attributed, they are spl&t 65 /0 to Charitable activities and 350/0 are allocated to "Other_ Cost of managing investmcnts,. 'Other- Costs of monaging investments. are the costs &8sociated with managing and inaintaining the Entetyrisc Estate together with the properties on Irons Lane. b) d) - 14
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Tangible fixed assets Freehold buildings t included at valuation. Fornial valuations are perfornied cvcry threc years. All othei. tangible fixed asscls are included at ¢osL Depreciation is provided at the following annual ratcs in order lo write off each asset over its estimated useful life. Freehold property Plant and machinery 20V/o on cost Fixtures and fittinos 20tl/o Oti cost Motor vehicle 20/0 Oll Cost Capital items costing les5 than £1,000 are written off &8 an expense as acquired. this more accurdtely rctlects the assets, useful life. An atnount cqual to thc exce&s of the onnuaj depreciation charge on revalued assels over the notional histoi'ical cost depreciation charge on those a&8ets is Irdnsferred annually from the revaluation resei've to thc gcneizl fund. Fixed asset investments Investment properties ose included in the balance sheet at fair vatue. BartT)wmore LiJnited holds a fixed asset investment in its subsidiaries at cost. Stock Stocks are valued at the lower of cost and net realisable valu< after making due a]lowance for obsolete and slow moving items. Debtors Trade debtors include resident rcnt invoiced and recoverable at the year end. Prepayments and accrued income include expenditure items paid for or inyoiccd in adVace and resident's rents due but not yet i'ecovered at the ye. end. Cash at bank and in hand Cash at basd( and cash in hond includes cash and short tenn highly liquid irkVeStments with a short maturity of three months or less forn) the date ot acquisition or opening ot the detK)sit or similar account. Creditors and provisions Creditors and provisions arc rccognised where the chariiy has a present obligation resulting from a p&st cvent that will probably result in thc transfer of tunds to a third party and the amount due to settle thc obligation can be measured oi. estimated reliably. Creditors and provisions are nom)ally recognised at their settieinent amount. Deferred income includes residents rents receiyed in advance which relate to a period after the year end. Financial instruments The charity only has financial assets and fmanciai liabilitics of a kind that qualify as basic tinancial instrutnents. Basic financial instruments are initially recogniscd at transaction value and subsequently measw'ed at their settlctnent value with the exception ot.bank loans ivhich are subsequently measured the ¢arying value plus accrucd intei'est Icss I'epayments. The financing chargc to cxpcndiDJre is al a constant rale calculated using the eftective interest tnethod. Pension costs Pension costs for the company's defined contribution sthem¢ are charged against income in the year in which they are incurred. The company also porticipates in a multiThemployer defined benefit schcmc, details of M'hich contained in note 19. Operating leases Rentals paid under operating leases are chargcd to thc incomc and expenditure on a straight-line basis over the period of the lease. Taxation As a registered charity, the company benefits fn)m rntes relief and is oenerally exeTnpt from In¢ome Tax, Corwrdtion Tax and Capital Gains Tax, bul not Value Added Tax. tTrecoverable Value Added Tax is shoivn as a separate cost. -15-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Government grants Government grants are recognised at the fair value of the asset recelved or receivable ivhen there is reasonable assurance that the grant conditions will be mei and the grants will be received. A grant that specifies perforniance conditions is recognised in income when thc pcrforniance conditions are met. Where a grant does tKyI specify perfom]ance conditions it is recognised in income wlien the proceeds are received or receivable. A gyant received before the recognition criteria are satisfied is recognised &8 a liability. Comp#ny status Barrowmore is a company limited by guarantee. The mcmbcrs of the company are the InteeS. In tlie event of t]ie charity being wound up, the liability in r&spect of the guarantcc is li¥nited ¢0 £10 per niember of the charity. Volunteers The value of services provided by voluntccrs is not inco4x)rated into these finan¢ial stalements. Further details of the ntribution made by volunteers can be found in the Trusttts Annual Report and note 2. Donations and legacie UnTEstiieted Restiicted 2024 2023 tk>nations 5,168 28,168 1,259 5.168 23,000 28,168 1.259 In 2024 the Charity received volunteer SUp)rt ot 127 volunteers {2023.. ?05) iota]ling 762 hours (2023: 1,230 hours) tiY)m thc staff at Lloyds Bank, DWP. Bank of Scotland and RSMUK. In accordance with accounting standards, the econotnic contribution of genera] voluntccrs is not included in the accounts. Other trading activities 2024 2023 SubsNJAry Saks 184.461 173,979 184,461 173,979 -16-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Social Enteryrise Ltd Per gn)up Consolidation Aeeounts Adj$1Mets As ported in subsidiary fUne]81 statenwnts 2024 2023 TwnoNEr Cost ofsaks 184,461 (72.764) (17) 184.444 (72,764) 175.103 170,821) Gmss profit 111.697 {17) 111,680 104,282 Operating costs {117,744) (945) (118,689) {109,Oi8) Resuks fi)r I year (6.047) (962) (7,009) {4,776) The company owned IOOO/ts of the sharc capital of Barrowtnoi'e Social Enterprises Limited at 31 Decetnber 2024. The subsidigry is registered in England and Wales. Barrowmorc Sociai Enterprises Limited's principal activity is that of caré operaior. The trading results are set out above. In the year. Bari'owmore Social Enterprises Limited took advantage of exemption from the audit of their individual accounts under section 479A of th¢ Companies Act 2006. At 31 Dccember 2024 the company's assets. liabilitics, share capital and reserves were: ported subsidiary finallcial statements 2024 Sociil Elltswiises lid 2023 Fixed Assets cTent Assets Cutyent ikibliLrs 3,641 4,409 (31.718) 3,641 4.409 (31,718) 7,748 2,820 (27.227) (23.668) (23,668) <16.659) Represerted by Shatt capital reser (23,668) (23,668) {16,659) Investments 2024 2023 Rents received Service arKI Jtclmrgeabk expet Bank interest received 298.194 131,920 263,192 119,723 3.041 430.113 385,956 17-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 ncoming Resources from Charitable Activities 2024 2023 Activtty sw)ported acconTrwdatK)n BarrownKTrre House1Cot.. rents 6?7,634 650,775 627.634 650,775 Net ineome/(expenditure) for the year 2024 2023 This is ststed after chaLg. Opcrating kascs- equIp[nt DepreciaiM)n Audtiors remu[ration - Audit fees -other fees 5,260 97,828 8.223 84,596 10,750 1,128 9,225 750 Staff Costs The aggi'egatcd payroll costs of the above were: 2024 2023 Wages aNI sa&rS Sockil secill*y costs PeK)n 528,734 49,477 21,095 509,781 43,305 26,845 599,306 579,931 The figures atM)ve do not include agen¢y costs of £3,836 (2023= £11,095) who cover for holidays and sickness or staff shortages, or redundancy costs of £Nil {20J? . £Nil). The trustees received no emoluments or other benefits and there were no tnleeS expenses paid for the year ended 31 December 2024 (2023..£Nil). There was l employee caming t&xable emoluments ivithin the £80,OtK) to £IOO,000 range (2023: 1). For staft whose ¢moluments exeeed £60,000, pension contributions amounting to £4.108 were paid for benefits under a defined contribution pension scheme {2023- £4:203). Total kcy management personnel remuncration (including Employets N.1.) for the year was £92,243 (2023 - £94,410). The average monthly head count 27 (2023: 2D and the average nuniber of full-time cquivalenl employees during the year was.. 2024 2023 Managenrnt Supported acCOmrd&1M)n AdMItratiOn Mau)tenance 13 14 18-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Expenditure on Charitable Activities Sllprted Accommodation Total Total Other 2024 2023 Staffcosts Trawillig costs Rates & water Light & heat CleaJJll]g Provisions 253,402 24 884 95.604 21,277 61.481 27.079 253,402 24 884 95,604 21.277 61,481 27,079 444 688 75,8)7 2,630 22,330 947 60 77,682 3,416 3.467 231 1,892 267 7,721 253,200 221.037 13,017 78,701 12,396 61,131 19.129 310 3,167 61,448 4.112 22,582 554 Postage & statDnery Legal & profe&8K>tMI DeprectatK)n Leasnig Non recoverabk VAT Bad debts Motor expenses Repairs & renewaLs AgeY staff Travel expenses Sundries SubsciiptK) 688 75,857 2,630 22,330 947 60 77.682 3.416 3,467 231 1,892 267 7.721 253.200 87,749 11.095 5.405 1,064 1,153 Govemance costs (5e¢ below) Sw)p)rt costs {see below) 6.484 238,457 910,581 910,581 848,991 Of the total expenditure on charitable activities £910.581 {2023 £848.991) was unrestricted and £Nil (2023 £Nil) was restricted. -19-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Governance and Support costs Tot21 Ullttstiieted Total Uwystrieted 2023 Suppbrt Costs Governance Costs 2024 Stsff costs Training costs Light & at Tepknr CEaning Postage & Stary Adverti8wE LE[ & professiot DepreciatK)n Bank. chS Multiwemployer pensK)n scltn* costs LeasuE tntei'est on Overd taxation Non recOrnbk VAT Cotllputer Costs Motor expenses Repars & tEnewaLs Agency staff Travel expetLses SUndrs SubscriptK)rt% 249,868 1,020 19,311 2,014 17 1,785 82 30,181 15229 2,392 5.468 2,630 249,868 ,020 257,658 3,034 16,641 6,796 2.014 17 1,78) 82 30,181 15,229 1,039 418 14,390 18,232 1,690 5,324 4,112 748 9,674 2,662 2,)82 16,275 5,468 2,630 8,311 2,674 2,)71 8,311 2,674 2,571 34,135 420 2,714 7,269 1,271 177 11.878 420 2.714 7.269 1,271 177 1,311 2,449 1,457 Alt0S remur£rdtKin 11.878 9,975 389.539 11,878 401,417 376,832 These costs are app0ttKId betsveents vdrK)us act]iqS of the clwty as slx)wn above a1 n Mte 9. DetaiLs oflK>W they are apportm)d are Accolmt Po8 in rK)te l. -20-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Other- Cost of Managing Investments Total Total Unrestiicted 2023 Unttstrieted 2024 Rates & wakr Lght & heat Teph)r Ckaning ITs?nee L£gal & prOfe)nal [kpcVdtx)n Not>recoverdbk VAT Bad debts Motor expenses Repai13 & renewaL% Trdvel expertses SuThJJrs Anllnal costs Govcrnance costs (see Note 8) Support costs {see Note 8) 7,139 63,867 7,377 584 4,870 3,056 6,742 3,694 497 15,635 58,446 6,204 3,138 6,908 1,565 4,916 6,007 ,159 220 88,607 75,588 83 140 194 4,157 136,339 3.491 128,400 314,186 324,836 io Parent Company SurpluslDeficit As pennitted by section 408 of the Companie5 Act 2006. the parent company's income and expenditure account as a single entity has not been includcd in these financial statements. The parent company's deficit for the financial year was £147,695 (2023= Gains of £1,333,657). 21-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Tangible Fixed Assets Group FRTehold Plant aThJ Ftll$ prnperty Ellacbinery rittijigs Motor Vehicle Total Costlvaluation At l Janw 2024 Additions Dispo Rethti0S 3,162.800 15.040 411,636 21.733 4,250 3.593,726 21,733 At 31 December 2024 3,162,800 15,040 433.369 4,?50 3,615,459 Depreciation Al l January 2024 Charge tor year Elimituted on dsposal 166,8IM) 63,256 13,723 402 355,426 37,787 3,760 490 539,709 101,935 Al 31 December 2024 230,056 14,125 J93,213 4,250 641,644 Net Book Value At 31 December 2024 2,932,744 915 40,156 2,973.815 At 31 Deccthr 2023 2.996.0(Ki 1,317 56,210 490 3,054,017 -22-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 Tangible Fixed Assets (Contillued) Company Fttehold PlaDt and 2nd maebillery rittings Motor Vehicle pn)pe Totsl Costlvaluation At l January 2024 AddiLions Disposals RevahwtK>r 3.162,8(K) 15,040 380,093 21,733 4,250 3,562,183 21,733 At 31 December 2024 3,162,800 15.040 401.826 4,250 3,583,916 Depreciation Ai l Janwy 2024 ctmrge lor year Eliminated on disposal 166,8(M) 63,256 13,722 402 3)1,63? 33.680 3,760 490 515,914 97,828 Ai 31 December 2024 230.056 14.124 365,312 4,250 613.742 Net Book Value At 31 Decenl)er 2024 2,932,744 916 36,514 2.970,174 At 31 Decen*er 2023 2,996,(M)O 1,318 48.461 490 3,046,269 It is Barrowmore Limited's FK)licy to fornjally revalue its fhold property every three years. The freehold properties were valued by S R Thellwell Chartered Surveyor in June 2024 on an existinu use fatr valuc and this valuation is i'eflected in the figures above. The trustees do not consider that the existing use fair value iv&s materially different at 31 De¢ember 2024. The historical cost of assets (freehold property) included in the above at valuation is £2.915.511 (2023.. £2,915,511) and the aggregate depreciation thereon would have been £751,743 (2023: £693,433). -23-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 12 Fixed Asset Investments Inte$t in grnup undertakings Company Cost At l JanLWy 2024 Amounts 'itten offinyear At 31 December 2024 The P1PaI gro) Ule1kll whth all ithTWJi2ted i) F aThJ Waks: 0/0 of issued onlinary shares ¢apital beld Issued shal Capital Activity Bamwnx)re Social EnterprEe Lthnited Compatry NunA)er . 08772299 Operatx)n ofcafé The trustees believe that the carrying value of Barrowmore Social Enterprises Limited is supported by its undei'lying net assets. Detsils are included in Note 3 of these accounts. 13 Investment Property - Group and Company Costlvaluation At l Janwy 2024 AdditK)tLS TrarL8fers Rethtiorfj 5.888,000 At 31 tkcenlxr 2024 5,888,000 Net Book Value At 31 December 2024 5,888,000 At 31 December 2023 5,888.000 It is Barrowmore Limited's policy to formally revalue its investtnent propcrtiC5 cvcry thi'ee years. The investment properties weir valued by S R Thellivell Chartered Surveyor in Junc 2024 on an existing use fair value and this valuation is reflected in the figwes atM)ve. The truste&s do not considcr that the existing use fair value was materially different at 31 Dccember 2024. The historical cost of &85Cts included in the aiKsve at vduation is £2.078.372 (2023- £2,078J72). -24-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 14 StoclLS Grnup Conyny 2024 2024 2023 2023 Prol}nS Goods for resak 3,722 1,950 1,117 3,722 1,950 5,049 3.067 3,722 1,950 15 Debtors: Amounts falling due within one year Gmup Company 2024 2023 2024 2023 Trade debtots AmOts owed by grow uyjertakt Prepayments aNI accnrd in¢on Other debtot3 113,607 105,036 112,436 22,348 1,635 47,986 104,592 18,403 1,020 374 1.635 47.986 ,020 374 163.227 106,430 184,405 124,389 K6 Liabilities: Amounts falling due within one ye2r Gn)up Company 2024 2024 2023 2023 Trade credilors T&¥ation a1 soco] securrty OdKr CredirS AccnM& atbj deferred iKon 12,225 21.876 i2.462 85,969 9.619 18,819 50,234 86,85) 10,27) 15,767 52,462 84,658 7,464 13.110 50,274 85.855 172,532 165,527 163.162 156,703 -25-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 17 Operating IAse Commitments The fo]bwr4g Operati E&se paynn& are Committ to be paBJ 0r folk)Hryng perM)d.' 2024 2023 Withui one year Between one atyj five years 5,580 2,883 5,492 7,477 8,463 12,969 18 Pension Commitments Thc company operaS a defined contribuiion pension scheme. Contributions in the year 3Jnounted to £22.394 (2023: £26,845}. The atnount outstanding at the yearnd was £2,999 (2023: £2.795). Eniployer's conts'ibutions 'e based upon 5 /0 Ot gross earnings and employees, contributions are between 30A and 50/0. The company also participates in a multi-employerscheme which providcs benefits to some 1,300 non-asso¢iated participating employers. The scheme is a defmed benefit schctnc in the UK and it is not tK)ssible for the company to obtain sulricient intormation to enable it lo account for the scheme as a defined benefit scheme. Therefore, it accounts for the schetne as defined contribution scheme. Thc 5chemc is classified as a 'last-man standing arrangement,. Thei'efor¢ the company is potentially liablc for other participating employe. obligations if those employe13 are unable to meet their sharc ot.die scheme deficit following withdrawal from the scheme. Participating employers are leglY rcquired to meet their share of the scheme deficit on an ajuLty purchase basis on withdrawal from the scheme. As the scheme is in dcficit and the company has agreed to a delicit fvnding ojrangemen¢ the company, in accordance with Charities SORP {FRS 102). recognises a liabiliry foi. this obligation. The amount recognised is the nct present value of the deticit reduction contributions payable under the agreeiiient that relates to the deficit. The present value is calculated using the discount ratc detailed in these disclosures. The unwinding of the discount te is recogllised as a cost together with Jny remeasureTnents calculated in the year in respect of the liability- ReCOr]rtiOn of openi]g ck)sll]gdefr*d beft pe}n Imbiky: 2024 2023 Present Vak of liablÈy at start ofperK Unwnlng otthe discount &ctor Remeasurements. ryact of any &S$tK)n8 Reme&suren%. anjnThts to contrEJthK)n sCU 4,863 9,146 138 63 9,605 331 {8) 9,806 323 Det contrbutK)ns paNJ {4.606) 14,606) 'esent vakne ofioblity at etxl otperKMI 10,063 4,863 DiSCot rate appd for the year 4.90/0 -26-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 19 Movement in Funds Net DM>veDxnt At l Jan 2024 At 31 Dec 2024 Unsti7Cted fuD(Ls Gera1 Raokntion reserve 8,J88.923 1,090.264 (154,199) {23,506) 8,234,724 1,066,758 9,479.187 (177.705) 9,301,482 Restiicted fim 23,000 23,000 Tot21 Funds 9.479.187 {154,705) 9,324,482 Net fiuxls. Iled in alK>ve are as frylbws: llleoming Resources Resoune expended GaiTr5 and Transfer sses Movement Unrestrieted funds General fillxl RevaluatK)n resetve Restricted fillmis Resitted fi]tKI 1,247,376 (1,41 i,275) ?3,506 (23,i06) 19,806) (154,199) (23,506) 23,000 Total Funds 1,270,376 (1.415.275) (9,806) {154,705) The transfers belween the General Fund and the Revaluation Reseive relate to the deprcciation charge on the reVued amount. Restricted Funds The restricted fund relales to a donation received of £23,¢100 specifically for the purchase of a minibus. The fimd movements during year are as tollows.. Balance at l Jgnuary 2024 lllcoming Resource5 Resounes expended Balance at 31 Decemlxr2024 TratLsfer MBNA FolaIK> 23.000 23,000 23,000 -27-
Barrowmore Limited Notes to the Consolidated Financial Statements For the Year Ended 31 December 2024 20 Analysis of group net assets between funds 2024 Totsl u[estrICted Restiycted Tarwbk fred assets Fed asset inVeSnts Cash at bank and M) ]wJxl Other net cunrnt assetsl{IMblitKs) Creditors d Èn rnre than year Defined berrt pet)n IBbifty 2,973,815 5.888.000 453.986 (4.256) 2,973,815 5,888,000 476,986 {4,256) 23,(K)O (10.063) (10,063) 9,301,482 23,000 9,324,482 2023 Total Unrestiicted Re$tiic¢¢d TarEbk fixed assets Fixed &5set insEstrne Cash at bar atxl Other net cutyent aSse(bIlts) Ctrditors lalling ni nN)re than or£ yvdr tkfjned belfi pet)n Scn Iobiltiy 3,054,017 5,888.000 i98.063 (56.030) 3,054,017 5,888,000 598,063 (56,030) (4,863) (4,863} 9.479.187 9,479,187 21 Related Party Disclosures Transactions with the subsidiary companies or¢ disclosed in Note 3. The amount due t-rom Bam)wmore Socia] Enterprises Limited at the balance sheet date was £22,348 {2023 - £18,403). Interest oe balance of the loans at thc tnarket rntc of 4.754/0 and they arc i'epayable of £945 (2023 - £514) has been charged on the avera. on demand. There are no further transactions with related parties to disclose. 28-