Registered number: 05964574 Charity number: 1117979
The Blackthorn Trust
(A Company Limited by Guarantee)
Trustees' Report and Financial Statements
For the Year Ended 31 December 2024
The Blackthorn Trust
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charitable company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent auditors' report on the financial statements | 7 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 27 |
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The Blackthorn Trust
(A Company Limited by Guarantee)
Reference and Administrative Details of the Charitable company, its Trustees and Advisers For the Year Ended 31 December 2024
| Trustees | Hazel Christine Adams |
|---|---|
| Alice Laura Chapman-Hatchett (appointed 7 June 2024) | |
| Andrew James | |
| Jonathan Shaw, Chairman | |
| Justine Sloover | |
| Kevin Moule | |
| George Perry | |
| Company registered number 05964574 Charity registered number 1117979 Registered office St Andrew's Road Maidstone Kent ME16 9AN Company secretary Denise Thursby Key Management Personnel Emma Halpin Susanna Odin Nathalie Belmas Denise Thursby Independent auditors UHY Hacker Young Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ Bankers National Westminster Bank PLC 3 High Street Maidstone Kent ME14 1HJ CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors Brachers Somerfield House 59 London Road Maidstone Kent ME16 8JH |
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The Blackthorn Trust (A company limited by guarantee)
Trustees' report
For the year ended 31 December 2024
The Trustees, who are also directors of the Charity for the purposes of the Companies Act, are pleased to present their report and the financial statements for the Charity for the year ended 31 December 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Blackthorn Trust is a company limited by guarantee governed by its Memorandum and Articles of Association. The charitable company was incorporated on 12 October 2006 as The Blackthorn Trust. It is registered as a charity with the Charity Commission.
Organisation
The Board of Trustees is made up of people with expert knowledge and life experience of mental health conditions including local people. It meets a minimum of six times per annum. It is aided and informed by a Management Group led by the Chief Executive to whom the day-to-day management of the charitable company is delegated.
Trustee induction and training
All serving trustees understand the methods and purpose of the Charity. When new people are appointed to the Board, a programme of familiarisation with the Charity and its work is put into effect, and advice for trustees published by the Charity Commission is provided. As new guidance is notified, it is made available at Board meetings. Board members have free access to all members of staff, enabling them to be fully aware of the Charity’s activities and ways of working.
Trustees
The trustees, (who are also directors of the company for the purposes of company law), who served during the year are as stated on page 1.
Risk Management
The trustees have a risk management strategy which comprises:
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regular identification of emerging risks through the management reports to every board meeting;
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an annual review, at the time of budget preparation, of the risks the Charity may face;
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a willingness to respond promptly to any emerging risks;
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the establishment of systems and procedures to mitigate those risks identified; and
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the implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise.
Alongside on-going systems to identify and manage non-financial risks within the areas of safeguarding, health & safety and environmental health, greater focus on financial risk has been necessary in recent years. In particular, the changing commissioning environment and the general challenging economic context has led to a greater degree of uncertainty, requiring regular and detailed attention to the potential impacts of these developments and necessary contingency plans to mitigate them.
OBJECTIVES AND ACTIVITIES
Principal Activity and Objectives
Blackthorn’s stated objectives are “for the public benefit to relieve sickness, promote good health, advance the education and self-development of people with severe and/or chronic illness or disability (either physical or mental) by providing medical, educational and rehabilitation services, developed out of the perspective of Anthroposophy (see (1)).
The Charity works with individuals with long term mental health, and/ or physical health conditions such as chronic pain , fatigue, insomnia, stress and anxiety. Specialist therapies and training placements in social enterprise workshops such as (cooking, café, woodwork, craft and gardening), alongside one-to-one mentoring and group support are offered to help people back into employment, education or volunteering.
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The Blackthorn Trust
(A company limited by guarantee)
Trustees' report For the year ended 31 December 2024
Many service users are leading isolated lives and are facing multiple health and social disadvantage. Most have not responded to mainstream interventions. Blackthorn aims to help people take up the challenge of their condition by reducing or moderating their symptoms and encouraging purposeful activity. The combination of therapy, work and community on offer maximises the individual’s chances of achieving long term improvement, thus helping them to find their potential in life and optimise their ability to work and integrate in the wider community, with all the individual, social and economic benefits this brings.
(1) The anthroposophical approach (Gk. Anthropos human being, Sophia wisdom) seeks an understanding of each person’s spiritual, soul and bodily constitution in relation to health and illness, and thus to enhance what may be achieved by way of additional interventions (medical therapeutic, social and occupational) alongside essential conventional ones.
Public Benefit
The Trustees have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular the Trustees consider regularly how planned activities will contribute to the aims and objectives that have been set.
Volunteers
The Blackthorn Trust's work would not be possible without its dedicated group of volunteers (60 a week), who provide significant support to the staff in running the wide range of social enterprise training workshops that take place on-site, and with clerical and fundraising tasks. There is an ongoing need for experienced and skilled volunteer support from the local community which is managed by a part time volunteer coordinator.
Beneficiaries
We provide a range of support for people with significant life struggles due to long term physical or mental health challenges. Given the opportunity to engage with the social, therapeutic support and training enables each person to find their way to re-engage fully with life, work and their community. Our ultimate goal is that our beneficiaries have the resilience to live a fulfilling life and achieve their goals.
ACHIEVEMENTS AND PERFORMANCE
Introduction
The Shaw Trust – Live Well Kent
The Live Well Kent mental health contract awarded in 2022 for 3 years has been renewed to 31st March 2026, it has seen Blackthorn Trust exceed client numbers and be offered additional funding at the end of the contract year to provide additional support. The evaluation outcomes for these clients are excellent.
Multiply (Kent County Council Funded)
Multiply (Skills for Life) is a programme of fully funded Maths courses, which aim to help people improve their ability to understand and use Maths in daily life, at home and at work. The skills training workshops offered at Blackthorn Trust all include entry level maths skills which are integrated with wellbeing and support. A contract was awarded in July 2023 with an extension until the end of March 2025.
Involve (Kent County Council Funded) Universal Wellbeing for Over 55’s or Under With Complex Health Conditions
Involve have funded Blackthorn to run this support programme until 1st October 2025 following a further contract extension by KCC. Blackthorn runs 6-week groups in craft and gardening which develops skills and combats loneliness.
Frequent Attenders Pilot Project 2023-2024 (MAIDSTONE & TUNBRIDGE WELLS NHS TRUST Funded)
In partnership with the NHS primary care network, Blackthorn Trust piloted a 12-week support programme to reduce the numbers of GP appointments patients made due to anxiety (for some patients this was more than 90 a year). Through attending group and peer supported workshops individuals were able to make connections and build residence enabling them to cope better independently and reduce dependence on the GP. The contract ended in August 2024 and despite excellent results, further finding was not available to continue the project.
Kent Adult Education, (KAE) Community Learning and Skills, (Kent County Council Funded)
Response Programme funded by the Community Learning element of the KAE budget from the department for Education until August 2025. Blackthorn is supporting 50 learners to be able to access 2 taster sessions (equivalent to 1 day of learning) in any of Blackthorn training workshops dependent on their interests and preferences.
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The Blackthorn Trust
(A company limited by guarantee)
Trustees' report
For the year ended 31 December 2024
Blackthorn Trust Pain Programme (NHS Integrated Care Board)
This contract ended 31st March 2024 and the work has been funded for a further year by Hollands Warren Charitable Trust.
Self -Pay Therapies and Therapeutic Services
Blackthorn has developed this service in 2023 which allows patients to purchase additional therapy at the end of a funded placement or to try a therapy for the first time. 12-week placements in training workshops have also been developed, all requiring a referral process, patient agreement and terms to be agreed. The income from this new enterprise is growing steadily.
Blackthorn Career, Learning and Development Programme ‘Next Steps’ What does my Future look like?
This service facilitated by a registered career development professional who helps to each participant to identify the skills and attributes they have that can then be taken forward to their individual goals for the future. The course runs for 8 weeks and is attended towards the end of a placement to support the individual to transition away from Blackthorn’s support. This work is funded from grants with the intention to include it in future contracts.
Financial Review and Reserves Policy
The Statement of Financial Activities on page 11 reports a rise in income and an overall surplus for the year ended 31 December 2024 of £172,845 (2023: deficit of £187,690). However, the current year result includes a restricted endowment of £150,000 from The Edward Gostling Foundation. Access to the capital and any income generated from it is conditional and is not currently available to meet day-to-day operating expenses; it may only be used if, and to the extent that, the Charity’s unrestricted reserves (excluding tangible fixed assets) fall below three months’ charitable expenditure. For this reason, it remains essential that the Charity continues to generate income from other sources to support its ongoing work.
Total expenditure remained consistent with the prior year with only a modest increase. Staff costs were once again the Charity's main expense at 65% (2023: 60%) of total expenditure.
To ensure financial resilience, the Charity aims to hold free reserves of at least £145,000 - equivalent to three months of charitable operating costs, excluding fundraising costs and depreciation.
As at 31 December 2024 total funds comprised:
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the endowment fund of £160,179 (the original £150,000 plus earned interest);
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other restricted funds of £24,114;
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unrestricted funds of £915,453 - however this total includes designated funds of £2,169 and funds tied up in fixed assets of £736,121, and therefore it does not reflect the reserves available for general operational use. The Charity's completely "free" reserves, excluding the designated funds and funds associated with fixed assets, were far more modest at £177,163, giving only a small amount of headroom over the minimum desired level.
The Charity’s most significant fixed asset is a building currently partially occupied by a large local GP medical centre. While this is a valuable long-term asset that supports community health provision, it does not directly contribute to the Charity’s liquidity. It is important to clarify this distinction, as the appearance of significant assets on the balance sheet has previously led to the misconception that the Charity is financially very well resourced. In reality, these assets are not readily accessible and do not diminish the ongoing need for financial support.
Although the Trustees are extremely grateful to The Edward Gostling Foundation for the endowment, and this does bring an element of financial security since it is something to fall back if reserves fall, the Trustees are fully committed to reducing the cost base while actively pursuing a broad range of grant and fundraising opportunities, leaving the endowment available for use in years to come.
Maintaining the minimum level of free reserves, and ideally building these further, remains a priority since this will ensure the Charity can continue to operate effectively—even in the face of unexpected challenges—and fulfil its commitment to the communities it serves.
Going Concern
The Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for at least the next year. The Trustees continue to adopt the going concern basis of accounting in preparing the financial statements, and the accounting policy in respect of going concern, which sets out the basis and assumptions made, is disclosed in accounting policy note 1.2.
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The Blackthorn Trust
(A company limited by guarantee)
Trustees' report
For the year ended 31 December 2024
Investment Policy and Powers
Aside from retaining a prudent level of reserves each year to ensure operational stability and sustainability, the majority of the Charity's funds have historically been applied to support short-term charitable objectives, leaving limited scope for long-term investment. However, where surplus funds are available and not immediately required for operational purposes, the charitable company seeks to manage them effectively to generate modest returns without placing funds at risk.
The Flagstone savings platform is used to access a range of short- and medium-term deposit and bond options. This enables the trustees to diversify cash holdings across multiple institutions and select accounts that align with the Charity’s risk appetite, liquidity needs, and ethical considerations. Using this platform allows the Charity to optimise returns on available funds within a secure and flexible framework.
Property assets
The Trust has established a significant asset base of £736,121 through the purchase over the years of a major proportion of the land upon which it operates as well as a portfolio of buildings including the Medical Centre, Café, Garden Room training kitchen, craft studio and office building. All of these buildings support continuity and stability of our activities, as well as bringing ongoing income to the Trust.
PLANS FOR FUTURE PERIODS
Continuing projects and plans for future periods include:
The Shaw Trust
Blackthorn Trust has worked closely with the Shaw Trust to develop the relationship, engaging with the navigators employed by Shaw Trust and the senior leadership team. This has resulted in an increase in contract funding for additional clients during 2025.
Kent County Council Adult Skills
Blackthorn Trust have tendered for the KCC adult skills contract to provide vocational training courses for adults with mental health conditions enabling them to develop multiple wellbeing outcomes as well as skills for work such as woodwork, horticulture and catering.
Self -Funded Therapies and Therapeutic Services
During 2024 Blackthorn developed a self-pay option for the first time, enabling people to have additional treatment once a funded placement ends or try it for the first time. Throughout 2024 this income has grown month on month, exceeding expectations by 25%.
Mental Health Services for young People
During 2024 Blackthorn Trust was awarded further funding by Colyer Ferguson to work with young people and build on the successful project with CAMHS. A new referral route was developed with Mid Kent College to refer students that are at risk of leaving education due to mental health conditions.
Involve (Kent County Council Funded) Actively Involved for Over 55’s or Under with Complex Health Conditions
This contract is in place until October 2025, with a new contract currently being negotiated, it is anticipated that the Trust will retain funding to continue support, but the contract amount is likely to decrease.
B-Well NIHR Funded Research Project
Work is continuing to secure NIHR funding for this multi-agency university funded project. Blackthorn Trust will be providing the community service delivery alongside Medway Community Trust to support individuals with diabetes and a mental health condition.
National Lottery Funding Pathway2Recovery
Blackthorn Trust has applied in partnership with The Kenward Trust and Mid Kent Mind for a project led by The Centre for Healthy Empowered Communities for lottery funding. This project seeks to support individuals with drug and alcohol dependency from detox to complete recovery. Blackthorn Trust will provide community and mental health support to the service users when they are in the step-down phase of recovery helping them to integrate into a new life after dependency.
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(A company limited by guarantee)
The Blackthorn Trust
Trustees' report
For the year ended 31 December 2024
Capital Project – Café Extension
Funding has been secured from multiple grants to extend the onsite café building with a conservatory, this space will provide additional capacity for service users and community groups as well as additional space for café customers. This project will be completed in the summer of 2025.
Grant Funding and Partnership Working
Blackthorn Trust is connecting with local organisations to look at ways to work in partnership to improve the service user experience and avoid duplication. Most notably the partnership with Mid Kent Mind a similar size organisation in Maidstone with an often shared service user group, we are looking at applications to The City & Guilds Transitions Commission and the Lloyds Bank Foundation. We have already secured funding to work with Kenward Trust to pilot our services for individuals in recovery from drug and alcohol dependency.
Trustees' Responsibilities
The trustees (who are also directors of The Blackthorn Trust, for the purposes 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 charitable company 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 giving a true and fair view, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures
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disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information (information needed by the Charity's auditors in connection with preparing their report) of which the charitable company's auditors are unaware, and
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the trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that information.
Auditors
UHY Hacker Young were appointed auditors to the company and a resolution proposing their reappointment will be put to the Annual General Meeting.
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board and signed on its behalf by:
| JovatlaveDocuSigned by: Slaw A918C1B430714D7... Jonathan Shaw Chair of Trustees
JustineSigned by: Sloomwsr 42768F4D69A0423... Justine Sloover Trustee
Date:
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The Blackthorn Trust
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The Blackthorn Trust
Opinion
We have audited the financial statements of The Blackthorn Trust (the 'charitable company') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The Blackthorn Trust (continued)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the Charity and the wider not-for-profit sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to possible acts by the Charity which were contrary to applicable laws and regulations including fraud. We also considered the extent to which non-compliance might have a material effect on the financial statements and considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the Companies Act 2006. We evaluated management’s possible incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition and management bias.
Audit procedures performed included a review of the financial statement disclosures to underlying supporting documentation, enquiries of management, testing of journals and evaluating whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud. Audit procedures were also performed on the government grants received during the year for the Coronavirus Job Retention Scheme, due to its material nature and potential for fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 8
The Blackthorn Trust
(A Company Limited by Guarantee)
Independent Auditors' Report to the Members of The Blackthorn Trust (continued)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
UHY Hacker Young
Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ
Date:
UHY Hacker Young are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 December 2024
| Note Income and endowments from: Donations and legacies 4 Charitable activities: 5 NHS pain management contract Sales in garden, cafe and craft shop Other trading activities Investments 6 Total income and endowments Expenditure on: Raising funds Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 16 |
Unrestricted funds 2024 £ 436,515 25,411 85,280 5,991 75,866 629,063 51,327 587,992 639,319 (10,256) 925,709 (10,256) 915,453 |
Restricted funds 2024 £ 64,164 - - - - 64,164 - 41,242 41,242 22,922 1,192 22,922 24,114 |
Endowment funds 2024 £ 150,000 - - - 10,179 160,179 - - - 160,179 - 160,179 160,179 |
Total funds 2024 £ 650,679 25,411 85,280 5,991 86,045 853,406 51,327 629,234 680,561 172,845 926,901 172,845 1,099,746 |
Total funds 2023 £ 238,514 98,747 70,567 5,072 75,404 488,304 47,361 628,633 675,994 (187,690) 1,114,591 (187,690) 926,901 |
|---|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 27 form part of these financial statements.
Page 10
The Blackthorn Trust
(A Company Limited by Guarantee) Registered number: 05964574
Balance Sheet As at 31 December 2024
----- Start of picture text -----
|||||
|---|---|---|---|
|2024|2023|
|Note|£|£|
|Fixed assets|
|Tangible assets|12|736,121|765,598|
|Current assets|
|Stocks|1,301|1,583|
|Debtors|13|91,445|49,931|
|Cash at bank and in hand|363,621|213,020|
|456,367|264,534|
|Creditors: amounts falling due within one year|14|(63,666)|(55,263)|
|Net current assets|392,701|209,271|
|Total assets less current liabilities|1,128,822|974,869|
|Creditors: amounts falling due after more than one|
|year|15|(29,076)|(47,968)|
|Total net assets|1,099,746|926,901|
|Charity funds|
|Endowment funds|16|160,179|-|
|Restricted funds|16|24,114|1,192|
|Unrestricted funds|16|915,453|925,709|
|Total funds|1,099,746|926,901|
----- End of picture text -----
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 145 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Jonathan Shaw, Chair Justine Sloover, Trustee
Date:
The notes on pages 13 to 27 form part of these financial statements.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Statement of Cash Flows For the Year Ended 31 December 2024
| Note Cash flows from operating activities Net cash used in operating activities 18 Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Receipt of endowment Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 19 |
2024 £ 36,341 11,214 (23,069) (11,855) (23,885) 150,000 126,115 150,601 213,020 363,621 |
2023 £ (92,861) 2,983 (43,730) (40,747) (23,155) - (23,155) (156,763) 369,783 213,020 |
|---|---|---|
The notes on pages 13 to 27 form part of these financial statements
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
1. General information
The Blackthorn Trust is a charitable company limited by guarantee, registered in England and Wales. Its registered office is Blackthorn Medical Centre, St Andrews Road, Maidstone, Kent, ME16 9AN.
The nature of the Charity's operations, and its principal activity is to relieve sickness, promote good health, advance the education and self-development of people with severe and/or chronic illness or disability (either physical or mental) by providing medical, educational and rehabilitation services, developed out of the perspective of Anthroposophy.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 March 2018), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Blackthorn Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The currency used in the financial statements is Pound Sterling.
2.2 Going concern
The financial statements have been prepared on a going concern basis.
The Trustees have assessed the charitable company's financial position and cash flow requirements for the next 12 months from the date of approval of these financial statements. While the charitable company holds a level of unrestricted reserves, it remains reliant on securing grant income to fund its core charitable activities. Grant income can be variable and is not fully secured at the start of each financial year.
The Trustees have reviewed detailed financial forecasts, which prudently assume only currently confirmed income and committed expenditure. On this basis, the forecasts indicate a potential deficit in the coming year. However, the Trustees note that historically, the charitable company has consistently secured additional grant funding during the course of the year, resulting in actual financial performance exceeding initial projections.
In addition, the charitable company holds a £160,179 expendable endowment fund. Under the terms of the endowment, both the original £150,000 capital and resulting income may be drawn upon if the unrestricted reserves (excluding tangible fixed assets) fall below a level equivalent to three months’ charitable expenditure. This provides an additional safeguard to support the charitable company's financial sustainability in the event of a shortfall in income.
Taking into account the charitable company's current reserves, historical fundraising performance, and access to endowment resources in the event of need, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue to operate for the foreseeable future. Accordingly, they consider it appropriate to prepare the financial statements on a going concern basis.
2.3 Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charitable company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
2. Accounting policies (continued)
2.3 Income (continued)
amount receivable, which will generally be the expected cash amount to be distributed to the charitable company, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 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 allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.
2.5 Government grants
Grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the charitable company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Land is not depreciated.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
2. Accounting policies (continued)
2.6 Tangible fixed assets and depreciation (continued)
Depreciation is provided on the following bases:
- Permanent buildings 50 years straight line - Temporary buildings 10 years straight line - Specialist equipment 10 years straight line - Plant and machinery 3 years straight line - Fixtures and fittings 5 years straight line
2.7 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
2. Accounting policies (continued)
2.10 Fund accounting (continued)
The Charity holds an expendable endowment fund which has been provided to support the long-term financial sustainability of the organisation. Under the terms of the endowment deed, for five years from the date of the deed both the capital and any income arising from the investment of the endowment may only be accessed in specific circumstances.
The fund is treated as an expendable endowment with restrictions, in accordance with the Charities SORP (FRS 102). The capital is not available for general use unless the Charity’s free reserves fall below a defined level. Specifically, access to the endowment (capital and/or income) is restricted and may only be used if, and to the extent that, the Charity’s unrestricted reserves (excluding tangible fixed assets) fall below three months’ charitable expenditure. In such cases, the Charity is permitted to transfer an amount from the endowment to unrestricted funds to bring reserves up to this minimum threshold. Transfers out of the endowment are made only after assessment of the reserves position, and are authorised by the trustees in accordance with the conditions set out in the endowment agreement. Any such transfers are recorded as movements between funds and disclosed in the notes to the financial statements.
Income earned on the endowment is retained within the endowment fund until such time as the reserves condition is met and a transfer is made.
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no key accounting estimates, but the following critical judgement has been made:
The Charity owns a freehold property from which it operates, and during the year a significant portion of the property was leased to an external medical practice, which operates independently of the Charity. Although the rental income is included as investment income in note 6, the entire property has been classed as a tangible fixed asset, with no apportionment of the property to include the rented component as an investment property. The investment property component is not separately sellable, and the trustees consider that the fair value of the investment property component cannot be measured reliably.
Furthermore, whilst the medical practice is a distinct organisation, its activities do fall in line with the Charity's own charitable objects to relieve sickness and promote good health, and the arrangement is therefore akin to a mixed motive investment, with the third party's activities helping to further the Charity's purposes.
4. Income from donations and legacies
| Donations Legacies Grants Analysis of funds for 2023 |
Unrestricted funds 2024 £ 46,952 14,500 375,063 436,515 217,711 |
Restricted funds 2024 £ - - 64,164 64,164 20,803 |
Endowment funds 2024 £ - 150,000 - 150,000 - |
Total funds 2024 £ 46,952 164,500 439,227 650,679 238,514 |
Total funds 2023 £ 36,360 2,000 200,154 |
|---|---|---|---|---|---|
| 238,514 | |||||
The Endowment funds have been received from The Edward Gostling Trust. Details are included in the accounting policy note 2.10 and note 15, the statement of funds.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
5. Income from charitable activities
| Medical, educational and rehabilitation services Analysis of funds for 2023 |
Unrestricted funds 2024 £ 110,691 169,314 |
Total funds 2024 £ 110,691 169,314 |
As restated Total funds 2023 £ 169,314 |
|---|---|---|---|
The comparative year figure is restated to exclude rental income which is now shown as investment income in note 6.
6. Investment income
| Rental income Bank interest Analysis of funds for 2023 |
Unrestricted funds 2024 £ 72,421 3,445 75,866 75,404 |
Endowment funds 2024 £ - 10,179 10,179 - |
Total funds 2024 £ 72,421 13,624 86,045 75,404 |
As restated Total funds 2023 £ 72,421 2,983 |
|---|---|---|---|---|
| 75,404 | ||||
The comparative year figures are restated to include rental income as investment income, after reclassifying it from note 5.
7. Analysis of expenditure on charitable activities
Summary by fund type
| Medical, educational and rehabilitation services Analysis of funds for 2023 |
Unrestricted funds 2024 £ 587,992 538,501 |
Restricted funds 2024 £ 41,242 90,132 |
Total 2024 £ 629,234 628,633 |
Total 2023 £ 628,633 |
|---|---|---|---|---|
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
8. Analysis of expenditure by activities
| Medical, educational and rehabilitation services Analysis of expenditure for 2023 Analysis of direct costs |
Direct costs 2024 £ 493,090 498,118 |
Support costs 2024 £ 136,144 130,515 |
Total funds 2024 £ 629,234 628,633 |
Total funds 2023 £ 628,633 |
|---|---|---|---|---|
| Staff costs Depreciation Purchases Co-workers and volunteers Training and recruitment Medical therapists materials Publicity and events Other staff costs Repairs and maintenance Rates and water Light and heat Cleaning, security and waste Insurance Technology Printing, postage, stationery and telephone Bank charges and interest Sundry |
Total funds 2024 £ 286,984 52,546 41,261 4,310 4,456 110 2,570 6,570 22,945 6,030 10,534 11,883 12,195 16,278 10,969 1,929 1,520 493,090 |
Total funds 2023 £ 263,816 46,362 41,378 2,735 4,221 20 1,615 6,486 66,945 (297) 10,709 16,347 10,407 10,604 12,539 3,278 953 |
|---|---|---|
| 498,118 |
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Light and heat Insurance Cleaning Audit and accountancy Legal and professional |
Total funds 2024 £ 105,294 1,029 1,585 167 20,715 7,354 136,144 |
Total funds 2023 £ 99,702 831 1,014 237 11,534 17,197 |
|---|---|---|
| 130,515 |
9. Auditors' remuneration
During the year, the charitable company became VAT registered and is now able to recover input VAT. The amounts disclosed below for 2024 are therefore stated net of VAT to the extent that VAT is recoverable. The comparative figures are stated gross, inclusive of VAT.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charitable company's auditor for the audit of the charitable company's | ||
| annual accounts | 3,115 | 3,560 |
| Fees payable to the charitable company's auditor in respect of: | ||
| All non-audit services not included above | 6,890 | 5,850 |
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 December 2024, expenses totalling £ 81 were reimbursed or paid directly to 1 Trustee (2023 - £ 198 ) . The expenses were for various ad hoc miscellaneous office items, including refreshments and stationery.
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 402,375 32,846 8,384 443,605 |
2023 £ 373,357 30,040 7,482 |
|---|---|---|
| 410,879 |
The average number of persons employed by the charitable company during the year was as follows:
| Operational charitable activities Management and administration |
2024 No. 17 3 20 |
2023 No. 15 3 |
|---|---|---|
| 18 |
No employee received remuneration amounting to more than £60,000 in either year.
Key Management Personnel
During the year, gross salaries, social security contributions and pension contributions made to the key management personnel (see page 1) amounted to £156,621 (2023 - £147,063) . No other benefits were provided to these employees during the year.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
12. Tangible fixed assets
| Cost At 1 January 2024 Additions Disposals At 31 December 2024 Depreciation At 1 January 2024 Charge for the year On disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 Debtors Trade debtors Other debtors Prepayments and accrued income |
Freehold property £ 1,424,075 16,800 - 1,440,875 716,814 35,105 - 751,919 688,956 707,261 |
Plant and machinery £ 84,712 6,269 (8,434) 82,547 54,449 12,593 (8,434) 58,608 23,939 30,263 |
Fixtures and fittings £ 114,271 - - 114,271 86,197 4,848 - 91,045 23,226 28,074 2024 £ 45,339 7,429 38,677 91,445 |
Total £ 1,623,058 23,069 (8,434) 1,637,693 857,460 52,546 (8,434) 901,572 736,121 765,598 2023 £ 36,263 9,378 4,290 49,931 |
|
|---|---|---|---|---|---|
13. Debtors
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
14. Creditors: Amounts falling due within one year
| Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 19,048 11,294 2,612 2,834 27,878 63,666 |
2023 £ 24,041 10,520 - 1,933 18,769 |
|---|---|---|
| 55,263 |
The current year figures include deferred income of £9,900 (2023: £Nil) in relation to amount received in advance for management fees.
15. Creditors: Amounts falling due after more than one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other loans | 29,076 | 47,968 |
Other loans:
-
A Bounce Back Loan (BBL) from NatWest Bank plc. The loan term is 6 years but includes a 12 month capital repayment holiday at inception. The BBL scheme is 100% government backed. The interest rate is fixed at 2.5% per annum. The amount outstanding at 31 December 2024 was £19,847.
-
A loan from the Edna Linnell Charitable Trust, secured over the trust freehold land and buildings. The loan is interest free and repayments made by monthly instalments. The loan is due to be repaid in full by May 2031 and the latest date the loan can be repaid by is 1 January 2034. The amount outstanding at 31 December 2024 was £28,278.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
16. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds John Swire 1989 Charitable Trust General funds General income fund Tangible fixed assets Total Unrestricted funds Endowment funds The Edward Gostling Fund Restricted funds KCC disabled toilets Colyer Fergusson Whitehead Monckton Charitable Foundation William and Edith Oldham Charitable Trust National Lottery Community Fund KCC Combined Member Grant Cobtree Charity Trust Biographical Gardening Total of funds |
Balance at 1 January 2024 £ - 160,111 765,598 925,709 925,709 - - - - - - 192 - 1,000 1,192 926,901 |
Income £ 10,000 595,994 23,069 619,063 629,063 160,179 3,864 18,000 1,000 16,800 19,500 - 5,000 - 64,164 853,406 |
Expenditure £ Balance at 31 December 2024 £ (7,831) 2,169 (578,942) 177,163 (52,546) 736,121 (631,488) 913,284 (639,319) 915,453 - 160,179 - 3,864 (18,000) - (1,000) - (16,800) - - 19,500 (192) - (5,000) - (250) 750 (41,242) 24,114 (680,561) 1,099,746 |
Expenditure £ Balance at 31 December 2024 £ (7,831) 2,169 (578,942) 177,163 (52,546) 736,121 (631,488) 913,284 (639,319) 915,453 - 160,179 - 3,864 (18,000) - (1,000) - (16,800) - - 19,500 (192) - (5,000) - (250) 750 (41,242) 24,114 (680,561) 1,099,746 |
|---|---|---|---|---|
| 177,163 736,121 |
||||
| 913,284 | ||||
| 915,453 | ||||
| 160,179 | ||||
| 3,864 - - - 19,500 - - 750 |
||||
| 24,114 | ||||
| 1,099,746 |
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
16. Statement of funds (continued)
Designated funds
Designated funds at the balance sheet date represent allocations of general funds to allow for anticipated future development and maintenance including the medical centre as well ring-fencing income for future expenditure relating to horticultural activities for example.
Endowment funds
The Edward Gostling Fund tracks an expendable endowment made to the Charity by The Edward Gostling Foundation under a Deed of Gift dated 11 June 2024. Access to the capital and interest earned from this is subject to certain restrictions which are outlined in the endowment fund accounting policy within 2.10.
Restricted funds
The grant from the William and Edith Oldham Charitable Trust covered the cost of building works to extend the accessible outside area.
The Colyer Fergusson Charitable Trust funding has supported the trust to broaden and develop their work with young people aged 16 and above who have poor mental health.
The Cobtree Charity Trust grant was received towards part-funding the work of the trust's clinical lead.
The National Lottery Community Fund grant is for the planned cafe extension, the works to be completed in 2025.
The funding from the Whitehead Monckton Charitable Foundation was used to refurbish the 'Den'.
KCC funding to provide disabled toilets has been spent in March 2025.
The remaining funding from the KCC Combined Member Grant, for benches, chairs and a other equipment, has been spent during the year.
The Biographical Gardening fund tracks a grant provided to support biodynamic/organic gardening training and skills.
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Medical centre Maidstone Horticultural Society Jan prior workways Eurythmy fund General funds General income fund Tangible fixed assets Total Unrestricted funds Restricted funds DWELL The Shaw Trust KCC Multiply KCC Combined Member Grant Edward Gostling Colyer Fergusson Cobtree Charity Trust Biographical Gardening Total of funds |
Balance at 1 January 2023 £ 1,011 2,057 285 674 4,027 339,834 768,230 1,108,064 1,112,091 - - - - - 1,500 - 1,000 2,500 1,114,591 |
Income £ - - - - - 355,750 43,730 399,480 399,480 (697) 38,020 30,001 1,500 15,000 - 5,000 - 88,824 488,304 |
Expenditure £ (1,011) (2,057) (285) (674) (4,027) (535,473) (46,362) (581,835) (585,862) 697 (38,020) (30,001) (1,308) (15,000) (1,500) (5,000) - (90,132) (675,994) |
Balance at 31 December 2023 £ - - - - |
|---|---|---|---|---|
| - | ||||
| 160,111 765,598 |
||||
| 925,709 | ||||
| 925,709 | ||||
| - - - 192 - - - 1,000 |
||||
| 1,192 | ||||
| 926,901 |
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
17. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2024 £ 736,121 272,074 (63,666) (29,076) 915,453 |
Restricted funds 2024 £ - 24,114 - - 24,114 |
Endowment funds 2024 £ - 160,179 - - 160,179 |
Total funds 2024 £ 736,121 456,367 (63,666) (29,076) 1,099,746 |
|---|---|---|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2023 £ 765,598 263,342 (55,263) (47,968) 925,709 |
Restricted funds 2023 £ - 1,192 - - 1,192 |
Total funds 2023 £ 765,598 264,534 (55,263) (47,968) 926,901 |
|---|---|---|---|
18. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors Receipt of endowment Net cash provided by/(used in) operating activities |
2024 £ 172,845 52,546 (12,489) 282 (37,724) 10,881 (150,000) 36,341 |
2023 £ (187,690) 46,362 (2,983) 301 52,532 (1,383) - (92,861) |
|---|---|---|
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The Blackthorn Trust
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 December 2024
19. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2024 £ 363,621 363,621 |
2023 £ 213,020 |
|---|---|---|
| 213,020 |
20. Analysis of changes in net debt
| Cash at bank and in hand Debt due within 1 year Debt due after 1 year |
At 1 January 2024 £ 213,020 (24,041) (47,968) 141,011 |
Cash flows £ 150,601 23,885 - 174,486 |
Other non- cash changes At 31 December 2024 £ £ - 363,621 (18,892) (19,048) 18,892 (29,076) - 315,497 |
Other non- cash changes At 31 December 2024 £ £ - 363,621 (18,892) (19,048) 18,892 (29,076) - 315,497 |
|---|---|---|---|---|
| 315,497 |
21. Pension commitments
The charitable company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £8,384 (2023 - £7,482) . At the balance sheet date, contributions of £2,151 (2023 - £1,249) were payable to the fund and are included in creditors.
22. Operating lease commitments
At 31 December 2024 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2024 £ 2,652 - 2,652 |
2023 £ 4,368 2,652 |
|---|---|---|
| 7,020 |
23. Related party transactions
During the year the charitable company received no donations from related parties (2023 - £1,045) .
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