Registered Charity No:
Company Number:
1122183
06461263
LILIAN
rAITIIFULL
CARE
LILIAN FAITHFULL CARE
TRUSTEES REPORT AND ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH
2024
Note - the charity changed financial year from January - December to
April - March, to align it with the accounting periods of commissioners
and government.

LILIAN FAITHFULL CARE
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 hlARCH 2024
CONTENTS
PAGE
Reference and Administrative Details
Objectlves and Actlvities
Achlevement and Performance
How our Activities Achieve ourAim and Public Benefit
Summary of Future Plans
Feedback on the Care We Provide
Financial Review
10-12
Risk Management
13
Structure, Governance and Management
13-15
Statement of Trustees, Responsibilities
16
Independent Audltors, Report
17-19
Statement of Flnanclal Activities
20-21
Balance Sheet
22
Cash Flow Statement
23
Notes to the Flnancial Statements
24-37

LILIAN FAITHFULL CARE
REFERENCE AND ADMINISTRATIVE INFORMATION
FOR THE PERIOD ENDED 31 MARCH 2024
Name of Charity
Charlty Number
Company Reglstratlon Number
Reglstered Office
Lilian Faithfull Care
1122183
06461263
Ground Floor West
Festival House
Jessop Avenue
Cheltenham
Gloucestershire
GL50 3SH
Principal Office
Ground Floor West
Festival House
Jessop Avenue
Cheltenham
GIoU￿sterShIre
GL50 3SH
Trustees
Fiona spen￿r. Chair (Appointed 15 June 2022)
Alan Bishop
Fiona Court
Sandra Harding (Appointed 4 January 2023)
Gareth Parry
Phillip Pratt
Martyn Smith
Emma Morgan {Appointed 18 May 2023)
Leaine Thompson (Appointed 18 May 2023 and resigned 18
March 2024)
Eve Russell (Appointed 30 May 2023)
Adam Watts (Appointed 12 June 2023)
Dame Janet Trotter
Company Secretary
Martin Wood
Chief Executive
Kevin Snowball (Started 17 April 2023)
Suzanne Booker Interim Chief Executive (21 November
2022 to 16 April 2023)
Auditors
Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
Gloucestershire
GL50 3AT

LILIAN FAITHFULL CARE
REFERENCE AND ADMINISTRATIVE INFORMATION
FOR THE PERIOD ENDED 31 MARCH 2024
Bankers
Barclays Bank PLC
128 High Street
Cheltenham
Gloucestershire
GL50 1EL
Sollcltors
BPE
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR
Investment Managers
atomos
One Temple Quay
1 Temple Back East
Bristol
BS16DZ

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
The Trustees of Lilian Farf(hfull Care present their Annual Report for the 15-month period
ended 31 March 2024 ('FP2024°) In accordan￿ with FRS 102, the Charitles SORP (FRS
102), the Companies Act 2006, the Charities Act 2011 and the Care Quality Commission. The
Trustees are also approving the Strategic Report in their capacity as company directors.
OBJECTIVES AND ACTIVITIES
Our Aim and Public Benefit
The Trustees of Lilian Faithfull Care have the ultimate responsibility for the wellbeing of
the Charity. they also set the tone for the way the Charity presents and conducts itself.
Our Charity's aim, as set out in the objects contained in the Charity's Memorandum and
Articles of Association, is 'to relieve elderly persons in necessitous circumstances upon
terms appropriate to their means. and to provide for aged persons in need thereof,
accommodation and any associated amenities specifically designed or adapted to meet
the disabillties and requirements of such persons..
Our public benefit can therefore be sumrnarised as to provide a safe, friendly and
supportive environment for older people at our day ￿ntreS and residential and nursing
homes, across the County of Gloucestershire.
Under company law the Directors of the Company acting as Trustees should ensure that
the Charity offers an appropriate range and quality of care for older people in accordance
with the Company's Memorandum & Artides of Association. The Trustees must also
ensure that resourc8s ar8 Utilised in accordance with any legal obligations laid down by
statute, HMRC, other Govemment agencies, Companies House and the Charity
Commission.
Everyone who works for the Charity has a responsibility to be mindful of the great legacy
Lilian Faithfull entrusted to us to steward for our successors.
Ensuring Our Work Delivers Our Aim
W8 review our aim. objeclives and activities regularty looking at what we achieved and
the outcomes of our work in the previous 12 months. The review looks at the success of
each key activity and the benefits they have brought to those groups of people we are set
up to help. The review also helps us ensure our aim, objectives and activities remained
focused on our stated purposes.
We have referred to the guidance contained in the Charity Commission's gen8ral
guidance on public benefit when reviewing our aim and objectives and in planning our
future activities. In particular, the Trustees consider how planned activities will contribute
to the aim and objectives they have set.
Strategic Objectlves
Our 2022 - 2026 strategic pillars are as follows:
Providing high quality care services to residents and guests
Attracting, retaining and developing competent and compassionate staff.
Working collaboratively with families. health professionals and community I
business partners.

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Ensuring we manage and develop the estate to meet the changing needs of our
beneficiaries.
Managing our finances and operations effectively and prudently.
Achieving the highest standards of corporate govemance and communication.
Building on research and evidence to support innovation and change.
A full strategy review is planned for later in 2024 to reassess the medium- and longer-
term direction for the Charity.
ACHIEVEMENTS AND PERFORMANCE
For FP2024 the strategic pillars translated to the following key objectives with their
outcomes and actions:
Providing high quality care services to residents and guests
Ensure all our homes contlnue to be CQC compliant
Our homes were inspected under the Care Quality Commission's Infection Protection
Team and all five homes received positive feedback.
Our target is for all six homes to be rated "Good. by our CQC regulator. We achieved the
target for five of our homes. however, in March 2023, the CQC downgraded Astell House
to Requires Improvement". We have submitted to the CQC a report on the actions we
have taken and are waiting for a re-inspection date. We have had a subsequent inspection
from Gloucestershire County Council which gave good feedback. Lilian Faithfull appoints
an external CQC Inspector to conduct appropriate mock CQC inspections in all of our
homes to ensure we monitor and maintain stsndards.
Managlng our finances and operations effectively and prudently.
To achleve occupancy levels of at least 88f•/o
Overall occupancy for the year was 82 %. This below our target with18vels impacted in
Novemb8r and December by Covid and influenza.
We liaised extensively with our partners in the NHS and local authority to help the wider
health and car6 System wherever we could.
Syst8m1 has benefited our staff and residents in supporting their healthcare needs. This
is a clinical comput@r system which communicates between health and social car8
organisations updating resident health records. It provides a shared record across all
health care settings and facilitstes rapid response of medical requirements when needed.
Generating a reasonable surplus to enable re-investment in the Charity and its staff
Significant cost increases in the year combined with lower than forecasted income from
reduced occupancy meant that we did not generate a surplus in this period.
The national minimum wage increase of almost 100/0, food inflation of 20 % and other cost
increases were not matched by Local Authority rate increases.
We were successful in attracting, retaining and developing competent and compassionate
staff.

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Peo
le Develo
ment and Trainln
In FP2024 we continued to expand our programme with the University of Gloucestershire
offering placements to degree students on healthcare courses. For the first time we
welcomed paramedic students on placement in addition to nurses and physiotherapy
students. Students work alongside our staff who are trained as mentors and the
partnership continues to enrich the life of the homes and develop the next generation of
health and care professionals.
Through continuous investment in training, we now have many colleagues with NVQ
qualifications and a cohort of qualified Nursing Associates. We have a clearly defined
progression matrix communicated to all staff; we promote succession planning and look
at restructuring wher6 needed as the Charity grows.
We were particularly proud to appoint a Home Manager in October who had developed
her career at Lilian Faithfull after starting as a nurse.
The wellbeing of our staff is achieved through effectively communicating a wide range of
benefits in our staff forums and rnonthly HR and Training clinics held in each home.
We continue to benchmark wages and benefits to compete with market trends.
Recruitment within the sector Continues to be a challenge with competition from NHS and
retail and hospitality exacerbated by the high cost of living. We have successfully
sponsored 15 overseas colleagues via the Heallh and Social Care w.sa scheme and are
benefitting from their expertise.
In September we were pleased to host the Chief Nurse for Social Care, who visited
Faithfull House after the Gloucestershire Care ProvidersAssociation (GCPA) Conference.
She had a tour of the home, chatted with staff on duty and was impressed with our length
of service across the home and training and development of our staff.
Increasin
rof ile:
our
Through events and promoting our charitable worf( we continue to build awareness of our
Charity in the County.
We are well represented on external bodies such as the Gloucestershire Care Providers
Association (GCPA) and the National Care Forum (NCF) and have been invited to pilot a
number of initiatives and projects within the integrated care system.
We are well respected by local commissioning teams and in June we were contacted by
the brokerage team at Gloucestershire County Council to assist with the sudden Glosure
of Malvern View care home at Cleeve Hill in Cheltenham. We put together a small
implementation team and successfully transferred residents into three of our hom8s and
subsequently appointed Malvern View staff into LFC roles.
We were delighted to win two awards atthe Gloucestershire Care Providers Association
(GCPA) awards event in September.
Our Physioth8rapist Team won the Innovation in Social Care Award for creating a care
homo gym in the Rggoncy building of Faithfull House in Suffolk Square Cheltenham,
The equipment gives multiple health benefits to residents. including rehabilitation from

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
surgery and falls, increasing mobility, improving strength and building confidence and
overall physical well-being.
Volunteer of the Year award went to our partially sighted volunteer at Royal Court who
regularly supports our residents by providing companionship and getting involved in
organising activitl8S.
collaborativel
Workln
with commun"
I business
artners:
Our families of guests who attend the Secret Garden Day Centre have found this facility
a safe space where they can share their stories and develop techniques in caring for their
loved ones on their dementia joumey.
In collaboration with Engaged Now we have established a safe, warm spac8, open one
afternoon a week, where people within the Stroud community can come and meet others
to assist with combatting loneliness.
Growth and Develo
ment - Ex
ac
uisitlon of suitable facilities:
lore the o
ortunit to
row the Charit throu
We completed the acquisition of Bay Tree Court, a 59 bed purpose built care home in
Prestbury on the 1 February 2023 and have been integrating it into the group over the
past year. Bay Tree Court offers a range of services from Independent Living apartments
to respite, dementia care and residential care. It is an important part of the community in
Prestbury and provides scope to develop a broader range of care and support services
in the future.
Pro
erties and services - ensurin
the
are alwa
s fit for
ur
ose:
We continued to invest in upgrades to our properties and completed a number of notable
projects in the course of the year.
At St Faith's we rebuilt the top floor dining room and refurbished the lifts, which required
th8 temporary closure of the top floor.
At Royal Court we developed two new dementia wings, to create community living for
groups of 6 residents with access to their own communal and dementia-friendly outdoor
spaces.
At newly acquired Bay Tree Court we conducted a major update to empty rooms and
created a new secure dementia-friendly garden.
Lilian Faithfull Care offers a range of expert dementia care services and at The Secret
Garden Day Centre in the grounds of Faithfull House we offer a peaceful location for
people living with dementia to spend the day enjoying activities from quizzes, gardening,
crafts, dancing and listening to live music and visiting local coffee shops. In response to
local requests, we have created a new group aimed specifically at younger people living
with early onset dementia, typically aged 40 to 65-years so that they can meet with people
their own age.
During FP2024 we reviewed all of our service operations and made the difficult decisions
to close our Uplands Day Centre and The Vintage and Treasure Charity shop in
Tewkesbury.

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Uplands service usage did not fully recover after Covid and we did not have the numbers
to run the service sustainably.
The charlty shop was popular with customers, but when the rent review resulted in
significant additional costs it was not posslble to operate profitsbly and we did not renew
the lease when it expired in October.
In technolo
-enabled care:
Investln
Care providers were set a target of implementing Digital Social Care Records by March
2024 and during FP2024 we took the big step of transitioning from paper based to a digital
social care record system.
We selected P@rson Centred Software to be our system provider and rolled out the
system home-by-home using a "train the trainerf prO￿sS and adapting our approach to
benefit from the learnings from each implementation.
The programme has been very SLtccessful in reducing papenvork and bureaucracy,
saving time on non-added value activity and freeing up more time for carers to spend with
residents.
Lilian Faithfull Care has been recognised as leaders in this area and has been invited to
join the Regional Digital Champions Network and partner with the Digital Transformation
Team in Gloucestershir8.
HOW OUR ACTIVITIES ACHIEVE OURAIM AND PUBUC BENEFIT
The Charity is one of the largest providers of social care for older people in
Gloucestershire. The local authority and the regulator deem us a 'difficult to replace, care
provider- this means that our services are vital to the community and the County.
Our aim is to provid8 care and support for our residents and families irrespective of
financial means.
The Charity has navigated the challenge that many charities have not managed, in that
balancing providing excellent care, increasing wages and increasing our supported
residents whilst ensuring we remain a very stable place to live and work.
We have always supported residents with limited resources where possible, During the
period this cost us up to £3.1 million. increased from £1.5million in 2022.
The Charity stands by its comrnitrnent of 'A Home for Lrfe, as we ensure that all our
residents stay with us irrespective of their financial status. Those with little or no financial
resources can apply to Social Services to pay the bulk of their fees. However, the amount
that Social Services will pay is less than the actual cost of providing the required Gare. In
the absence of help from family or other sources of support, such residents will have a
shortfall in fees made up from the Charity's own resources. We do not ask any resident
to leav& due to a financial circumslance.
Considering the guidance from the Charity Commission. we demonstrate our publi
benefit by providing care, catering and staffing levels higher than industry standards and
a Home for Life alongside:

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Our number of supported residents has increased by 167Yo since 2014. (43 vs. 115
residents).
We provide emotional support and guidan￿ through our MAST groups and Day Care.
We continue to work closely with our colleagues in the NHS and Gloucestershire County
Council to ease demand In the hospitals and help with short-term support.
SUMMARY OF FUTURE PLANS
We are ambitious for LFC. Our quality of care and our quality of colleagues and our
reputation in the health and care sector are strengths to build on.
W8 want to bè able to support rnore people. provide secure careers for colleagues and
champion the cause for not-for-profit care provision.
Lilian Faithfull aspires to create the best care home experience in Gloucestershire through
our dedicated people, our home from home Yeel, and our constant drive to personalise
our service to meet the particular needs of every resident.
Our 'home for lif8, pledge connects us to our charitable purpose and our principle of being
in care for the right reasons. not for profit.
We support older people to live their lives the way they wish. We understand the
importance of personal preferen￿. encourage Independen￿ and aim to always respond
to our residents in a manner which makes each feel valued and respected as individuals.
Residents ar8 joining us later in life with more complex needs and length of stays are
reducing in part due to an increase in respite and convalescent visits.
Looking to the future, research from the local authority tells us to expect the number of
older people aged 65 and over in GIoU￿sterShIre to continue to rise at a faster pace than
nationally, rising from 126.800 in 2015 to 206,300 by 2039. An estimated 25,400 older
people have a long-term illness or disability that limi*s their day-to-day activities. The
number is predicted to rise to 39,000 by 2030. An estimated 12,700 peop18 aged 65+ in
Gloucestershire feel lonely always or often. The number of people living alone is
estimated to increase by about a fifth.
This means that more people are likely to need support: research shows that when people
are isolated and lonely their wellbeing is affected and they are more likely to need health
and social care services in the future.
Our active liaison with local community groups and with Social Services has helped
significantly in reducing those concems and has created better local understanding of our
work. We are very grateful for the community support the Charity receives from local
businesses, schools and organisations which enhances our residents, lives on a daily
basis and will continue to develop these important relationships.
The Board is developing a strategy for how the Charity can meet the changing needs of
providing care.

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
FEEDBACK ON THE CARE WE PROVIDE
We actively seek feedback on the services that we provide as an opportunity for learning
The Charity estimates that ourwork touches the lives of approximately1,000 people every
day in our County. be that residents, families. staff. doctors as well as many others.
Feedback tells us how important our Charty is in the County and some of the most recent
feedback from familias is heart-warming for our teams who work so hard to care for our
residents and guests.
Review of St Faith's from a daughter of a resident."
The care is exceptional. Mum is treated with kindness. respect and patience. All staff:
nurses, car8rs, cleaners - are experienced experts in their field. and every interaction is
caring and courteous. We could not have wished for a better environment for Mum. Her
room is fabulous, and we￿e been able to make it feel like home. They welcome us as a
family, whether it's a flying visit or we stay with Mum for a few nights. Oh, and Mum loves
the food! Thank you, St Faith's, for being awesome.
Review of Falthfull House fmm a granddaughter of a resident..
My Nan has had a turbulent 12 months and in Faithfull House she has found a home. The
building is large, with a number of communal areas in which to socialise or to read. Nan's
room is spacious and she is allowed to bring whatever she would like into the room to
make it hers.
The busy carers take their time whenever they are with Nan and when my family and I
visit we are always offered refreshments. We really do enjoy visiting and find relief in
seeing Nan so well looked after by all the staff. I wouldn't hesitate to recommend the
home and its caring staff.
Review of Astell House from a daughter of a resident..
My Mother has now been in Astell House for six years. l am very happy to have found
Astell House as it has provided a very good home for her since her dementia became bad
enough for her not to be able to live at home. The carers {and other staff - admin, kitchen,
domestic, grounds 8tc.) continue to be hugely caring and pleasant and do their best to
make her time there enjoyable and safe. Many have also helped me deal with the different
changes in my mother's condition as they happen. The current activities staff make a
great deal of effort to involve residents in activities that they enjoy and provide a good
range - Mum still enjoys anything that involves a good sing.
Review of Royal Court from a partner of a resident..
My partner suffers from Huntingdon's Disease and we use Royal Court for respit8
services several times a year. The care they provide is second to none. They look after
my partner in a caring and respectful way. listen carefully to her needs and requirements
and have made it a place she is now happy to go when I need a break which is an absolute
godsend. Royal Court provides interesting activities and exceptional food which is so
important for people in care to keep them as healthy as they can be, I highly recommend
them.

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Revlew of Bay Tree Court from a daughter of a resident..
Mum spent her final six months of life at Bay Tree Court Residential Care Home. They
were months filled with laughter and care. The care staff, cleaning staff and management
all made this a good time for her and for me. Mum was made welcome right from the start,
making the settling-in process an easy one. Mum's room was always clean and neat and
the maintenance staff put up hooks for pictures etc. to make it just right for her arrival.
When Mum was in her final days of life. the home could not have been more caring. They
also looked after me as much as Mum while I spent that time by her bedside.
Review of Resthaven fmm a daughter of a resident..
My mum was cared for here during the last period of her life. She was diagnosed with a
life endlng cancer and I sought help from Resthaven for palliative care. From the moment
we spoke to Resthaven all the team, from management through to all the care and support
team, demonstrated kindness and compassion. Transfer was swiftly arranged from an
OLJt of county hospital and, within days, she was transferred to her own room overlooking
the orchard. She was happier than we had seen her in months. She died peacefully within
the month. Often, when visiting, we would arrive and find one of the care team sitting with
her, assuring her that she was not alone. With all her care needs met, we were able to
maximise the time we had left with her. Thank you all for the care, respect and
professionalism you showed to my mum. You are doing a wonderful job.
Revlew of Secret Garden from a guest..
Being able to attend S&cret Garden Day Care is the highlight of my week. The staff are
knowledgeable, helpful and only too pleased to assist in our well-being. The programme
is varied to cater for all needs. The manager and the team of dedicated carers see that
our needs are met. Secret Garden Day Care gives you a feeling of safety and belonging.
My second home is an important part of my well-being and recovery.
FINANCIAL REVIEW
The market in the Care sector has been very tough since the end of Covid. There ar&
many new entrants to the market and Care Homes being built, at pace and to a template
to ensure running efficiency. The Charity's financial priority in FP2024 was to maintain
our occupancy rates to allow for investment in the estate to facilitate improvements in the
care we provide to our residents.
Total income for the period was £19.65million (2022: £13.7million) wlth £18.9m (2022.,
£12.4m) of this relating to residentfees. This increased income in part due to the r8POrting
period being a 15 month period and also due to the necessty to put our care fee rates up
with spiralling food inftation and significant pressure on wages. Average occupancy for
the year was 82.1°A (2022: 90.4/0) with market pressures and pensioner finances
resulting in decisions to come into care often being delayed more than in the past.
Closing occupancy in March 2024 was 81.30/0 (2022: 85.5 /0). Fees did increase in the
period, although we managed to keep any increases below the underlying rate of inflation
and well below the rate of increase in the National Minimum Wage.
To underpin the Charity's core objectives, part of the strategy is to obtain income from
other sources, in part to maintsin a competitive advantage but also to offset rising costs.
10

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
In FP2024 our day centres brought in £0.4m (2022: £0.4m), investment property and flats
(inclusive of the Independent Living flats at Bay Tree Court) £0.6m {2022: £0,1 m).
Direct charitable activities expenditure was £21.Omillion (2021: £11.gm). The majority of
this increase, when adjusted for differing length periods. can be attributed to additlonal
employment costs which stood at £14.5m {2022: £8.8m) for the period. This was driven
by the National Minimum Wage increase in April and consequent increases to all staff
already above that rate. Additionally, a reduction in the pool of employees in the market
resulted in continuing use of agency staff, with costs of £1.9m (2022.. £1,7m) in the period,
The Charity believes that its staff are its biggest asset and ensuring that the teams in the
care homes are fully inducted, fully trained and are encouraged to develop and build a
career in Lilian Faithfull is really important. Our staff retention rates have improved
throughout FP2024 which has meant that our recruitment spend has been kept well under
control. This means that we can maintain consistency in our dedicated teams of nurses,
carers and other care home staff.
Support costs reduced at the same level of the previous year at 9.1 % (2022: 9.50/0) of
income as we continue to ensure the Charity is operated in the most efficient way
possible. Overheads and support costs are regularly reviewed to ensure best value for
money is obtained for the Charity. Where appropriate we will put suppllers out to tender
if we believe that their costs have increased by too much or we believe that the service
we are receiving is not of the required stsndard.
Capital expenditure increased to £5.993k (2022: £862k). This was primarily due to the
acquisition of Bay Tree Court to add to our estate. Bay Tree Court is a 59 bed care home
located in the Prestbury area of Cheltenham. It has full residential facilities alongside
assisted living accommodation and will ultimately allow Lilian Faithfull to offer our full
rang8 of services to the local community.
Financial assistanc8 to those residents funded by local authorities grew as the increase
in local authority rates have not kept in line with the significant inflalionary cost increases
as well other pressures in the market. Across the year financial assistance r8ached a
maximum of £3.1 m (2022: £1.5m). This is the annualised average difference between
the break-even cost of caring for a resident and the rate the local authority pays.
The Charity's closlng cash balance was £O.Om (2022: £0.7m), a reduction of £0.7m, this
was the result of the very difficult trading conditions throughout much of the period being
reported. As a result of the difficult trading conditions. we failed to achieve our bank
Govenants when they were tested at 31 December 2023 and 30 June 2024. Despite this,
the bank has continued to be very supportive and is giving us the time and support we
need to recover. As a result of the failure to meet the loan covenants, our bank loans are
now presented as falling due within one year.
The Charity's surplus before depreciation and bank interest wa5 £0.3million (2022:
£1.3million) with the net deficit being £1.37m for the year (2022: surplus £461 k).
Princlpal Fundlng Sources
The Charity's principal source of funding is from residents, fees. That includes residents
who are self-funding, residents paying a proportion of their care Costs as deemed by the
local authority, residents fully funded by the local authority and residents funded by the
11

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Cllnical Commissioning Group. The Charity also received donations from local
businesses, famllies and charitable events.
The Charity has received donations and other contributions to costs from various
organlsations such as the RAF Benevolent Fund, Civil Service Benevolent Fund, the
Royal Agricultural Benevolent Fund, and the StAndrews Society. The support from these
organisatlons Is hugely appreciated by the Board of Trustees.
Investment Pollcy
During the year, the Charity maintained its financial investments under a portfolio
managed externally. Within the yearthe fund management company changed name from
Sanlam Wealth to atomos following an acquisition. In line with the investment policy, the
primary objective is to preserve capital and generate prudent capital growth over the long
term.
During th8 y8ar the Finance Committee, with independent financial advice, conducted a
review of the performance of the Charit5ls investment portfolio. The r&sult was a modest
increase to the risk level of the portfolio which is being implemented during 2023.
Towards the end of the perlod the investments were realised. and the cash used in the
charity. As at the period-end, Ihese investments were valued at £259k (2022.. £598k), a
drop of £339k, which was represented by an increase in value of £61 k and a withdrawal
of £400k. Since the period-end we have sold the remainder of the investments and used
th8 funds in the charity.
Reserves Policy
The Trustees have previously examined the Charity's requirements for reserves in light
of the main risks to the organisation. Providing care and effective support when it is
needed is core to our mission at Lilian Faithfull Care, and therefore the reserves policy
we have set is intended to ensure we are able to deliver on our aim and objectives. The
policy is intended to ensure our work is protected from the risk of disruption at short notice
due to a lack of funds, whilst at the same time ensuring we do not ietain income for longer
than required.
The policy is that the unrestricted fvnds not assigned to tangible fixed assets and
investment properties (assuming that loans part-fund those assets) held by the Charity
should be sufficient to cover the essential operating costs of the Charity for a three-month
period. The Trustees aim to set aside those reserves in order to protect the future
operations of the Charity from the effects of any unforeseen variations in its income
streams as part of a policy of good financial management pradice.
During this financial period our level of reserves has fallen short of our policy objective.
Total Charity Funds at 31 March 2024 were £9.4m (2022: £10.7m). Of those, Restricted
Funds were £0.5m (2022: £0.5m) and Designated Funds were £O,Om (2022: £1.3m)
leaving General Unrestricted funds at £8.9m (2022: £8.9m). Fixed assets and Investment
properties amounted to £19.3m in total (2022: £14.Om). of which £9,9m is deemed to be
funded by loans (2022: £3.9m), leaving negative reserves of £0.5m (2022: negative
£1.2m)
The reserves policy will be reviewed by the Finance Committee in the light of the Charity's
new strategy and subsequently considered by the Board by the end of FY2025.
12

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
RISK MANAGEMENT
Risk management should form an integral part of the Charity's decision-making and be
incorporated within strategic and operational planning. The Risk Committee is to review
the Risk Management Strategy and present to the Board for approval.
The Risk Committee is to determine that there is a robust process in place for identifying,
managing, and monitoring critical risks. oversee execution of that process; and ensure it
is contlnuously improved as the business environment changes.
The Risk Committee has prepared a comprehensive Risk Register which has been
approved by the Board. The Risk Register is regularly reviewed by the Risk Committee
and the Board.
The Charity Trustees have given consideration to the major risks to which the charity is
exposed and satisfied themselves that systems or procedures are established in order to
manage those risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Lilian Faithful Care was incorporated as a private company limited by guarantee under
the Companies Act 1985 on 31 December 2007. The Company was also registered as a
charity on 31 December 2007. The Company is govemed by its Memorandum and Articles
of Association. In the event of the Company being wound up members are required to
contribute an amount not exceeding £1. Following a change to the Memorandum and
Articles of Association which were approved by the Charity Commission in January 2024,
the members of the Charity are also the Trustees.
Subsidiaries
The Charity has a wholly-owned subsidiary, Lilian Faithfull Trading Limited, which is
planning to contract with local authorities in respect of local authority-funded residents.
Lilian Faithfull Homes Limited is a second wholly-owned subsidiary, which did not trade
during the current or pr8c8ding financial year and is a domiant company.
Governance
The organisation follows the principles of the Charity Governance Code for larger
charities, The organisation has a Govemance Manual setting out its governance
arrangements. The Governance Manual was approved by the Board in January 2023 and
is reviewed annually to ensure that it follows best practice and is up to date. The Manual
is currently being reviewed by the G0Veman￿ Committee to be presented to the Board
in November 2024 for approval. The Governance Manual contains a Scheme of
Delegated Authority (SODA) which sets out the matters reserved to the Board and those
delegated to the Board Committees and the Executive Team. The SODA is reviewed
annually as part of the Governan￿ Manual.
13

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Trustees and Chlef Executlve
The Board of Trustees comprises up to twelve Trustees. At the beginning of 2023 there
were eight Trustees. Following a recruitment process there We￿ 12 Trustees appointed
by June 2023. There was one resignation in March 2024 and a recruitment exercise is
underway to appoint a repla￿Ment. The Governance Committee agrees an intervlew
panel for the appointrnent of Trustees which recommends appointments to the Board
ensuring that the recruitment process is formal. fair, rigorous and transparent. All eliglbility
checks are undertaken and an induction pack is provided to new Trustees.
Trustees are not entitled to receive any payment for the time spent on Trustee duties. The
Board has agr8ed an expenses policy for Trustees to reimburse reasonable out-of-pocket
expenses properly incurred in the perfomiance of Trustee duties.
The Board of Trustees appoints the Chief Executive upon the recommendation of the
People Committee. The People Committee agrees an interview panel for the appointment
of Chief Executive and recommends appointments to the Board ensuring that the
recruitment process is formal, fair, rigorous and transparent. Martin Hughes, resigned and
left the Charity in November 2022. Suzanne Booker was appointed Interim Chlef
Executive with Kevin Snowball starting in April 2023.
The People Committee consider a remuneration and beneffts framework (including
pension arrangements) for the Chief Executive.
The Board Chair and Vice Chair set the Chief Execulive's objectives and undertake the
appraisal, the outcome of which is presented to the Board.
Committees
The Chair, with the People and Governan￿ Committee. has undertaken a review of the
Committee structure and terms of reference which have been approved by the Board of
Trustees.
The Board has established the following Committees, which act within their agreed terms
of ref8renc8, are:_
Finance Commlttee is to oversee financial aspects of the Charity. In addition, this
Committe8 undertook a risk function until a suitable Trustee had been recruit8d to b8
Chair of a separate Risk Committee and at that time the risk functions will be undertaken
by the Risk Committee.
Risk Committee is to oversee risk aspects of the organisation.
Care Committee is to focus on care and the HR aspects of our homes. The Care
Committee is responsible for safeguarding and re￿iVeS a comprehensive safeguarding
report presented by the Director of Care with a root analysis and comm&nts. This provides
the Committee with an opportunity to look in detail at this report and to challenge and
interrogate. The minutes of the Care Committee together with Safeguarding R8POrt are
presented to the Board to keep all Trustees infomied. Any concerns raised by the
Committee are reported to the Board.
14

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
People and Governance Committee is to monitor g0Veman￿ matters. This Commlttee
is to have a broader consideration of HR I People aspects of the organisation which is not
currently being looked at by other Committees. In February 2024 the Boad approved a
proposal to split the People and Governance Committee into two separate Committees.
This was due to the People Plan being developed and the ongoing need to monitor
progress on this, the broad range of people topics and the level of their importance for
the Charity together wlth the need to continue to improve the governance practices and
documentation that had already begun, it is a better focus and more efficient to separate
the two and create two Committees.
Estates Committee is to oversee estates aspects of the organisation.
Decisions
The Board has ultimately responsibility for decisions taken by the organisation.
Committees give detailed consideration on matters within their respective terms of
reference and report to the Board of Trustees after each meeting. The Scheme of
Delegated Authority sets out the matters delegated to each Committee.
Fundraislng disclosures
The Charity had no fundraising activities requiring disclosure under S1624 of the Charities
Act2011.
15

LILIAN FAITHFULL CARE
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees (who are also directots of Lilian Faithfull Care for Ihe purposes of company lawl are responslble for
praparing the Trustee's report and the financial statements in accordance wlth applicable law and United Kingdom
Generally Accepted Accounting Prac11￿ (Uniled
Kingdom Accounting Standards).
Company law requlres the Trustees to prepare financial statements for each financlal year. Under company law the
Trustees must not approve the financial statements unless they are satisfied that they give a true and falr view of
Ihe slat6 of affalrs of th8 Charitable Company and of the incoming resour￿$ and application of resources, Sncludlng
the income and expenditure, of Ihe Charilable Company for that period. In preparing these financlal statements, the
Trustees are required to:
Select suitabl8 accountlng policies and then aP￿Y them consistently.
Observe the methods and principles in Ihe Charilies SORP.
Mak8 judgm8nls and accounting estimates that are reasonable and pnjdenl,.
Stale whether applicable UK Accounting Standards have been followed, subJ8ct to any materlal
departures disclosed and explained in the financial statements-
Prepare the financial stslemenls on the going concern basis unless it is inappropriate to presume that
the Charitable Company will ￿ntinue in operation.
The Trustees are responsible for keeping adequate accounling records that are sufficient to show and explain th8
Charllab18 Company's transactions and disdose with reasonable accuracy al any time the financial posillon of the
Charitable Company, enables them to ensure that Ihe financial statements comply wllh th6 Comp8nles Act 2006.
They ar6 also responsibl6 for safeguarding the assets of the Charitable Company and hence for taking reasonable
steps for the prevention and detection of fraud and other ir￿gUIantie$.
DISCLOSURE OF INFORMATION TO AUDITORS
Insofar as each of the Trustees of the Charrty at the date of approval of this report is aware there is no relevant audit
information (information needed by Ihe Charily's auditor in connection with preparing th6 Audit report) of whlch th8
Charity's auditor is unaware.
Each Trust8e has taken all of the steps Ihat h8lshe should have taken as a Trustee in order to make himselflherself
aware of any relevant audit information and to establish that the Charity's aLKJitor is awarè of that informallon,
The Truste8s' report comprrsing the Strategic Report and other information was approved by the Trustees on and
signed on their behalf by..
By order of tho Board
F Spencer
Chair of Trustees
Date 27 November 2024
16

LILIAN FAITHFULL CARE (Company Number: 06461263)
FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS (contlnuod)
Oplnlon
We h8ve audlted the financial statements of Lilian Failhfull Care for Ihe period ended 31 March 2024 which comprise the
statement of Financial Acllvitios, Balance Sheel. Cashflow Statement and the related notes. Th8 flnanclal roportlng
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
includlng Financial Reporting Standard 102 The Financial Reporting Standard applicabie in the UK and Republle of
Ir8land (United Kingdom Generally Accepted Accounting Practice).
Oplnlon on flnanclal statements
In our oplnion the financial statements:
glv6 a true and fair vtew of the state of the charily's affairs as at 31 March 2024 and of ils incoming
resources and application of resources for the period then ended.
have b88n prop&ty prepared in accordan￿ wilh United Kingdom Generally Acc8Pt8d Accounting
PractlC6', and
have been prepared Sn accordan￿ with the requirements of the Charities Act 2011.
Basls for oplnlon
We conduct8d our audit in accordance with Intemational Slandards on Auditing (UK) {ISAs (UKI) and applicable law. Our
responsibilllles under those standard5 are further described in the Auditorfs responsibilities for the audit of the fSnancial
slat8mentS $8Ction of our report. We are independent of the charity in accordance with the ethical requirements that are
relevant lo our audlt of the financial statements in Ihe UK, includirtg the FRC'S Ethical Standard, and we have fulfllled our
other ethical responsibililles In accordance with these requirements. We believe that the audit evldencg we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Concluslong relating to going con¢èm
We have nothlng to report in respect of th8 f(Alowing matters in relation to which the ISAS (UK) requiré us to r@port to
you where..
the Irustees, ug8 of th& going concern basis of aCc￿￿ting in the preparalton of the financial statements is
not appropriale., or
the Iruslees havè not dlsclosed in the financia ststements any Identifi￿ material uncertainties that may
cast significant doubt about Ihe charity's ability to continue to adopl Ihe going concern basis of accounting
for a period of at least twelve rnonths from the date when the financial ststements ar8 gulhorised for Issue.
other Information
The other information comprises the information induded in the annual report. other than th6 financlal statement and our
8udilor's report thereon. The Iruslees are responsible for Ihe other intormation. The other information comprises th6
informatlon included in the annual report, other Ihan the financial statements and our auditor's report Iher8on. Our opinion
on the financial statements does not cover the other information and. except to the extent otherwise explicitly staled in
our repDrt, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other inform8tion and, In doing
so, consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge
obtained in the audit or otheNise appears to be materially misststed. If we identify such material inconsistencies or
apparent mat8rial misstatements, we are required to detemiine whether there is a material misslat8menl in the financial
slat8ments or a materi81 misstatement of the other infom)alion. If. based on the work w8 have performed, we conclude
that there is a material misst8tement of Ihis other infonnation. we are required to report that fact. W8 have nothing to
report in this regard.
17

LILIAN FAITHFULL CARE (Company Number: 06461263)
FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS {¢ontlnu•d)
Malters on whlch wa are r8qulred fo report by exception
We have nothing to report In respect of the following matters where the Charities Act 2011 requires us to report to you
if, in our oplnlon:
the information given in the ffnancial statements is inconsistent in any materlal respect wllh th8 trustees.
report., or
sufficient accounling records have not been kept; or
Ihe financial statements are not in agreement with the accounting records. or
we have not recèived all the infomiation and explanalions we require for our audlt.
Responsibilltles of trustees
As explained more fully in the trustees, responsibilities statement. the trustees are responsible for th8 preparatlon of the
ftnanclal stat8m8nls and for being satisfied that they give a Irue and fairview, and for such Internal control as the trustees
determine is necessary lo enable the preparation of financial statements that are free from material misstat6m6nt, whether
du810 fraud or error.
Auditor's responslbilltles for tho audlt of the finan¢lal statements
Our objectives are lo obtain reasonable assurance about whether the financlal statements as a whole are free from
malerial misstatement, whether due to fraud or e￿or, and to issue an auditorfs report that includ8s our oplnlon.
Raasonable assurance is a high level of assurance. bul is not a guarantee Ihat an audit conducted In accordance with
ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or 6rror and are
consld8r8d mat8rlal If, Individually or in the aggregate. they could reasonably be expected to Influence the economic
decisions of users tak6n on thé basis of these financial statements.
As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain prof8ssion81
sceplicism Ihroughoul the audit. We also=
Identify and assess the risks of mat&rial misstatement of the financial statements, whether due to fraud or
érror, dgsign and perform audit procedures responsive to those risks, and obtaln audit evidence that 15
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a mat&rial
misstalem8nt resulting from fraud is higherthan forone resulting from 8rror, as fraud m8y involve collusion,
forgery, intentional omissions. misrepresentalions, or Ihe override of internal control.
Obtain an understanding of intemal control relevant to the audil in order to design audit procedur6S that
are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness
of the charity's internal control.
Evaluate the appropriateness of accounting policies used and the reasonablpnpss of accounting 6slimates
and related disclosures made by the trustees
Conclude on the appropriateness of the Imstees. use of the going concern basis of accounting and, based
on the audlt evidence obtalned. whether a material uncertainty exists related to events or conditions that
may cast slgnificanl doubt on the charily's ability lo conlinue as a going conc6rn. If w6 conclud8 that a
material uncertainty exisls. we are required to draw attention in our auditor's report to the related
dlsclosures In the financial statements OT. if such disclosures are inadequate, lo modify our opinion. Our
conclusions are based on Ihe audit evldence obtained up lo the date of our auditor's report. How8V8r,
future events or condilions may Cause Ihe charity to cease to continue as a going concern.
Evaluate the overall presentation. struclure and content of Ihe financial slalemanls, Including th8
di8closures, and whether the financial statements represent the underlying transactions and events in a
manner that achleves fair presentation.
Obtain sufficient appropriate audit eviden￿ regarding the fjnancial information of the entities or buslness
activities within the chartty lo express an opinion on the financial slalements. W8 are responsible for the
direction, supervision and performance of Ihe charity's audit. We remain solely responsible for our audit
opinion.
We communicate with those charged wilh govemance regarding. among other matteTS, the planned scope and liming
of thè audlt and signlficant audil h'ndings. including any significant deficiencies in internal control that w8 Id8nlify during
our audit.
18

LILIAN FAITHFULL CARE (Company Number: 06461263)
FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS (conllnued)
Extent to whlch the audit was consldered Capable of detecting iThegularlt10s, Includlng fraud
Owlng lo Ihe inherent limit81ions of an audit. Ihere is an unavoidable risk that malerial misstatem6nts In the financial
statements may not be detected. even Ihough the audit is properly planned and performed In accordance with the ISA'S
IUKI.
In identifying and assesslng risks of material mis-stalement in respect of fraud. irtluding irregularltSes and non-¢ornpli8nce
wllh laws and regulations, our procedures induded the following=
W8 oblalned an underslanding of the legal and regulatory frameworks appllcable to the comp8ny financial
statements or that had a fundamental effect on the company's operalions. We delermlned that the most
significant laws and regulations induded UK GAAP, UK Companies Act 2006 and taxation laws.
We understood how the company is complying wilh those legal and regulatory frameworks by maklng Inquirles
of management, those responsible for legal and compliance procedures.
We 8SS8ssed the susceptibility of the company's financial statements to material misstatement, includlng how
fraud might occur. Audit procedures perfomied by the engagement team included:
Idenlifylng and assessiThJ the design effectiveness of controls managemenl has in place to prevent and detect
fraud.,
Understandlng how those charged with govemance considered and addressed the potent181 for overrlde of
controls or other inappropriate Influen￿ over Ihe financial reporting process. Detailed analysls ofjournals posted
through the accounting system during the period to 31 March 2024 has been undertaken.,
Understandlng the controls in place to prevent and detect fraud. Rellance was not placed on controls for tho
entlr8ty of the audit, instead taking a substsntive testing approach. however controls w8r8 In place to prevent
fraud, and they appeared to be working effectively.
Challenging assumptions and judgements made by management In its slgnificant accounting estlmatos.
Use of our report
This raport is made solely to the charivs trustees, as a body, in accordance with the Charit18s Act 2011. Our audit work
has been undertaken so that we might state to the trustees those malters we are required to slate to them in an audllors,
report and for no other purpose. To the fullest extenl permitted by law. do not accept or assume responsibility to
anyone other than th8 charity and the chariVs trustees as a body, for our audil work, for this report, or for the oplnlons
we have formed.
Martin Howar
IS8nior Slatulory Auditor)
For and on behalf of Hazl8woods LLP. Ststtjtory Auditor
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
2 December 2024
D8te'.
19

LILIAN FAITHFULL CARE
STATEMENT OF FINANCIAL ACTIVITIES FOR
THE PERIOD ENDED 31 MARCH 2024
Unrestrlctod
funds
Restricted
funds
Total
funds
15 months to
31 March
2024
Note
INCOME
Income from:
Donatlons and legacles
Charitable activities
Investments
Othèr incom8
48,120
18.909.479
572.647
93.918
30,174
78,294
18,909,479
572,647
93,918
Total Income
19,624,164
30,174
19,654,338
Expendlture on:
R815ing funds..
Investm8nt manag8rfs f88S
Charitable 8clivities
9,599
21.048.069
9,599
21,048,069
Total expenditure
21.057.668
21,057,668
Net gainslllossesl on inveslments
61.934
61,934
Transfer between funds
60.000
(60,000)
Net movement In funds
(1,311,570)
129,8281
11,341,396}
Reconciliation in funds
Total funds brought forward
10.193,661
533,969
10,727,630
Net movement in funds
(q.311,570)
(29,826)
11,341,396)
Total funds carrled forward
8.882,091
504,143
9,386,234
The notes on pages 24 to 37 fomi part of these financial statemonts.
20

LILIAN FAITHFULL CARE
STATEMENT OF FINANCIAL ACTMTIES FOR
THE PERIOD ENDED 31 MARCH 2Q24
Unrestricted
funds
Restrl¢ted
funds
Total
funds
Year ended 31
D8cambor
2022
Note
INCOME
Incom8 from:
Donallons and legacies
Charitable activilles
Investments
Olhgr Income
51,412
12.749.979
126,539
23.341
871,515
922,927
12,749,979
126,539
23,341
Total Income
12.951,271
871,515
13,822,786
Expondlture on:
Raising funds..
Investmént manager's fees
Charitable activities
5.707
12.950.596
5,707
13,288,142
337,546
Total expenditure
12.956.303
337,546
13,293,849
Net Ilossèsllgalns on investments
(67.657)
167,657)
Net movement In fund5
(72,689)
533,969
461,280
Reconcillatlon In funds
Total funds brought forward
Nel movemgnl In funds
10,266,350
(72,689)
10,266,350
461,280
533,969
Total funds carrlad forward
10,193,661
533,969
10,727,630
The notes on pages 24 10 37 form parl ofthese financFal statements.
21

LILIAN FAITHFULL CARE
BALANCE SHEET (Company Number: 06461263)
AS AT 31 MARCH 2024
Note
2024
2022
FIXED ASSETS
Tangible assets
Snveslments
Investment property
11
13
12
17,400,493
259,643
1,932,388
12,402,053
597,987
1,599,271
Total fixed assets
19,592,524
14,599,311
CURRENT ASSETS
Debtors
Cash at bank and In hand
14
1.614,726
12,767
740,886
633,063
1,627.493
1,373,949
CREDITORS
Amounts falling due within one year
15
(11,833,783)
{2,125,3331
NET CURRENT (LIABILITIES) IASSErs
10,206,290
1751,3841
TOTAL ASSETS LESS CURRENT LIABIUTIES
9.386,234
13,847,927
CREDITORS
Amounts falling du6 after more than one year
16
{3,120,2971
TOTAL NET ASSETS
9,386,234
10,727,630
CHARITY FUNDS
Restricted funds
Unr6slricted funds
19
18
504,143
8.882,091
533,969
10,193,661
Total funds
9,386,234
10,727,630
Appr
y Ihe Board for issue on .
Fsp
ncer- Trusteè
The nolès on pages 24 to 37 forni part of these financial ststemenls.
22

LILIAN FAITHFULL CARE
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 31 IIIARCH 2024
2024
2022
Note
Cash used in operatlng actlvltles
Net cash provlded by operating aclivlties
21
(358.836)
1,666,003
Cash flows from Investing activities
Dividends, intèrests and rents from inveslments
Purchase of tangible fixed assets
Proceeds from sale of tangible flxed assets
Proceeds from sale of investments
Purchas8 of Investments
Investment property addltions
Wilhdr8wal of Inv8stm8nt
572,647
(5.993.931)
32.504
829,021
(9.409)
(1.385,366)
565,819
126,539
(1,880,139)
14,464
412,246
(419,6041
(36)
Cash used In Investing activities
(5.388.715)
{1,746,530>
Cash flows from flnanclng activitie5
Advance of bank loan
Bank interest paid
Repayments of borrowings
6,475.000
(728,421)
(474.357)
(116,163}
(244,028)
Net cash provlded by l (used in) In financlng activities
5.272,222
(360,191)
Change in cash and cash equivalents in the year
1475.329)
(440,7181
Cash and c88h equivalents brought forward
651,405
1,092,123
Total cash and cash equlval&Thts carried forward
22
176.076
651,405
The notes on pages 24 to 37 fomi part of these fjnancial stst6monts.
23

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERIOD ENDED 31 MARCH 2024
ACCOUNTING POLICIES
The flnanclal statements have been prepared under the historical Cost convention, as modified by the
revaluatlon of certaln fixed assets. adopting the following principal accounting policies all of which are in
accordance with Accounting and Reporting by Charities: Slatement of Recommended Practice
Accountlng
and Reportlng by Charities (SORP FRS1021 issued in July 2014 and The Companies Act 2006.
The financial statements arè presènted in Pounds Slerling.
Company status
The Charlty Is Ilmited by guarantee and has no share capltal. The Ilabillty of each member in the event of winding
up Is limited to £1. The company is subject to Ihe requirements of the Companies Act 2006 with regards lo the
form and content of the financial stslemenls.
The Ch8ri1y Is 8 private company. limited by guarantee (company no. 06461263 England and Wales) wilhoul
share capital, and registered with the Charlty Commission (registered number 1122183 In England and Wales),
The address of Ils reglstered office Is:
Ground Floor West
Festival House
Jessop Avenu8
Cheltenham
Gloucestershire
GL50 3SH
This is also the regislared address of its subsidiaries Lilian Faithfull Trading Limited and Lilian Faithfull Homes
Limited.
Consolldated flnanclal stat•ments
The financial statèments do not include the consolidaled finan¢ial resulls of Ihe Charity and ils subsidiary
companies, Lilian Faithfull Trading Limiled and Lilian Faithfull Homes Limited. th6 grounds that th& subsidiary
company's r8sults are immaterial to the group.
Going concern
Th8 Trustees have a rgasonable expectation that the Charity has adequate resources to continue in operatlonal
existence for the foreseeable future. For long term finance the charity relies on bank loans, as dlsclosed In notes
to the financial slalemenls. In assessing going con￿rn the Trustees have assumed that these bank loans will not
be r8paid for the foreseoable future (in line with the signed bank loan agTeemenll and are not aware of any
circumstances that may adversely affect Ihe renewal of Ihese facilities. In preparing the flnanclal slat8menls, tho
Trustees have considered the polenlial impact of the ongoing Covid-19 pandemic on the golng concern status of
the Charlty and have det8rmined the impact on current and future perforrnance of the Cherity is minimal. The
factors considered by the Tnjslees are documenled in more detail wilhin the Trustees report. The Trustees
consider that there 8re no material uncertainlies over the Charit￿$ financial viability and, accordingly, continue to
adopl Ihs going concern basis of accounting in preparing the annual financial sta18ments.
Fund accounting
Funds held by the charity ar8 either..
Unrestricted geneT81 funds, which are available for use at the discretion of the Trust88s In
furtherance of the general objectives of the Charity and which have not b88n designated for
other purposes" or
Unr8slrlctad designated funds. that have been set aside by the Trustees for particular
purpos9s. The aim and use of 8a¢h designated fund are sel out in the notes lo the financlal
statements: or
Reslricled funds. which are donalions or legacies received where the donor has spgcified use
solély for particular areas of Ihe Charity's work or for specific projects undertaken. The speclflc
restrlction on Oach fund is sel otrt in the financial statements.
24

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (¢ontlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
ACCOUNTING POLICIES (contlnuèd)
Incomlng resources
Investment Incom61s recognised vthen received, or rf declared and receivable.
For legacles, enlltlement is taken as the earlier of the date on whith eilher.. the Charity is awar6 that probate
has been granted, the estate has been finalised and notification has been made by the executorls) lo the
Trust that a distribution wlll be made, or when a dislribulion is received from the estate. Receipt of a legacy,
in whole or in part, is only considered probable when the amounl can be measured rellably, and the Charity
has been notlfied of the executovs intention to make a distribulion. Where legacies have been notified to the
Charity, or the Charity is aware of the granting of probate. and the criteria for income recognition have not
been met, then the legacy is treated as a contingent asset and disclosed if material.
Income from charitable acliv5tles indudes home income recognised as eamed (as the related goods or
servlc8s are provided> under contracL
Rental income is included in the year in which it is receivable. Rent re￿1vable from the investment property
Is classified as investment income.
Resources axpended
Expenditure is accounted for as charilable a¢tivilies being the provislon of care. Within provision of care, costs
are allocat6d b8tween direcl provision of caro costs and support costs. The Irrecov8rable element of Value
Added Tax Is Included with the item of expense to which it relates. Depreciation Is allocated to expenditure
headings on the basls of tha use of the assets concerned.
Governance costs include cost of constitutional and statutory requiremenls, cost of Trustee meetings and the
cost of any18gal advice to the Trustees on governar￿e orconstituiional maiters and are included wlthln support
costs.
Support costs includ& central funclions and have been allocated to activty cost categories on a basis consistent
with the use of resources, for example. allocating property costs by floor areas or per capita, staff cosls by the
lime spent and other costs by their usage.
Costs of raising funds are costs payable to Ihird pariy investment managers that manage the Charity's
Investment portfolio.
Government grants
Grants from governm8nt bodies are reviewed forspecific proiectslcosts and are reeognlsed In accordance with
Ihelr Individual terms and conditions. Income is recognised when the Charity has entitlement to the funds whlch
is when any performance conditions atlached are met. it is probable that the income will be received, and th8
amount can b6 reliably measured. Grant income will be deferred if received in advance of meeting performance
condilions or if the funder specifically slates Ihat the income must be spent in a future accounting p8rlod.
Taxation
The Company is an Exempt Charity within the meaning of Schedule 2 ofthe Chari1185 Act 1993 and as such is
a charity within the meaning of Section 519 of the Income Tax Act 2007 (formerly Section 506{11 of Ihe Taxes
Acl 19881. Accordingly, tha company is potentially exempt from taxalion in respect of incom8 or capital gains
received within Categories covered by Section 524 of the Income Tax Act 2007 Ifomiedy Section 505 of th8
Taxes Act 19881 or Section 256 of Ihe Taxation of Chargeable Gains Tax 199210 the extent that such income
or gains are applied to exclusively charitable purposes.
25

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERIOD ENDED 31 MARCH 2024
ACCOUNTING POLICIES (contlnued)
Tanglble flxed assets and depreclatlon
All assets costing more than £1.000 are capilalised. Ongoing projects may have additional costs below this
value however they are capitalised as the overall cost of the project is over £1.￿0.
Tanglble flxed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write
off the cost of the flxed assets. less their estimated residual value. over their expected useful lives the
following bases..
Freehold land
Freehold buildings
Leasehold improvements
Flxtures and equipment
Motor vehicl8S
2- 5°A of cost per annum
In line wilh the underlying lease
20% of cost per annum
20 /0 of cost per annum
Invostments
Fixed asset investments are induded al market value at the Balance Sheet Date.
Galns and losses repres8nt the movement in market values during the year and are credll8d of charged to the
Statement of Financial Activities.
Unlisted investments are shown at cost unless there is a permanent diminution in value.
Investment Property
Inveslm8nt properties are stated at freehold markel value in the Balance Sheet al Ihe reporting date. An
independent professional third-party valuation is carried out at least every five years and prepared on an
informal basis in th6 intervening period. Gains or losses are taken tr) Ihe Siatement of Financial Aclivllies. No
d8pr8ciation is charged on investment properties.
Operating leases
Rentals applicable to operating leases where substanlially all of the benefits and risk of ownership remain with
the lessor are charged to the Statement of Financial Activities on a straight4ine basls over the lease temi.
Cash and cash equlvalents
Cash and cash equivalents comprlse cash in hand and deposits with finandal institutlons.
Debtors
Trad8, olh8r d8btors and acuued income are recognised at the selllement amount due, and prepaym8nts are
valued al th8 amount prepaid.
Credltors
Creditors are r6cognised where the Charity has a present obligation resulting from a past ev6nt that will
probably result in the transfer of funds to a third party and the amount due to sell18 th6 obligation can be
m8asured or estimated reliably. Trade creditors, taxalion and social security, wages and salaries, Other
creditors and accruals are recognised at their settlement amounL Bank loans are recognised at amortised cost
using the effectlv6 Inl8rest method.
Financial instruments
The Chgrily only has financial assets and financial liabilities of a kind that qualify as basic fin8ncial instruments,
these being cash at bank. debtors. creditors and loans. All investments held by Ihe Charity also quallfy as baslc
flnancial Instruments.
Pènsion costs
The Charity oper8tes a defined conlribulton pension scheme. and Ihe pension charge represents the amount
payable by the Charity to the fund in respect of the year.
26

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERIOD ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
Redundancy cost$
Redundancy costs arising from peri(*Jic reviews of siaff levels are charged to the Statement of Flnanclal
Activities in the year in which the Charity is demonstrably commilled lo employees leaving the Charity.
Critical accountlng estlmates and areas of Judgement
Preparation of the financial statements requires management to consider making signlflcanl judgements and
estimates where necess8ry. The areas in which stgnificant judgements and estimatlDnS hav8 been made
comprise of depreciation and the recoverability of debtors. and investment property valuation.
Useful economic lives of fangible fixed assets
The annual deprecialion charge for tangible fixed assets is sensilive to changes In th8 estimated useful
6conomic lives and residual values of the assets. The useful economic lives and residual values are amended
when n8e8ssary to reflect current eslimates and the physical condition of the assets. S68 Note 11 for the
carrying amount of the tangible fixed assets and above for the useful lives of each class of asset.
Impalment of debtors
The Charlty makes an estimate of trade deblors and other debtors. When assessing th8 Impairmenl of trade
debtors and other debtors, management considers factors induding the current credit rating of the d8blor, the
ageing profile of debtors and hlslorical experience.
Investment property valuation
The Charity will periodically engage third party experts to provide. and independent valuation of the investment
properties held.
INCOME FROM DONATIONS AND LEGACIES
Unrestricted
funds
Restricted
funds
Total
Total
funds
funds
15 months to
12 months to
31 March 31 December
2024
2022
Donatlons
General donatlons
Governm6nt grants
48,120
30,174
78,294
615,693
307,234
Total 2024
48.120
30,174
78,294
922,927
There has been no income received from government grants in Uie current year, In the prior year, £148,326 of
Infection Control Grant and £158.908 related to Ihe workfo￿ Retention and Recruilmont Fund were received.
The majority of ganeral donalions in the prior year related to assets received on the m8rg@r of the charity with
Calharine Ball Almshouses. This non-recuTring, and amounts received this year are general donallons.
A small number of donations were received in the period to 31 March 2024 which are restricted due lo thern
bging gifted for specific projectslilems.
27

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERIOD ENDED 31 MARCH 2024
PROVISION OF CARE
15 months to
12 months to
31 March 31 December
2024
2022
R6sldenls' fe8S
Contrlbullons to runnlng costs
Charity shop income
18,865,153
15,616
28,710
12,715,196
11,248
23,535
18,909,479
12,749,979
Provision of care was unrestricted during thts and the prior year.
INVESTMENT INCOME
15 months to
12 months to
31 March 31 Decembar
2024
2022
Rental Income
Income from listed Investments
Inleresl receivable
571,146
1,501
112,186
13,893
460
572.647
126,539
OTHER INCOME
The analysis of the Charity's other inciThe for the year is as follows:
15 months to
12 months to
31 March 31 December
2024
2022
Voluntary incom6, Other in(a)m&. glft ald
93,918
23,341
93,918
23,341
ANALYSIS OF EXPENDITURE BY ACTIVITY
Activitles
undertaken
dlrectly
2024
Support 15 months to
12 months to
costs
31 March 31 Decembor
2024
2024
2022
Care costs
Welfare
Premisés
Support costs
9,366,798
6,103.662
3,137.802
9.366,798
6.103,662
3,137,802
2,449,406
6,186,919
3,830,858
1,975,967
1,300,105
2.449.406
Total
18,608.262
2,449,406
21.057,668
13,293,849
28

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERIOD ENDED 31 MARCH 2024
Analysls of direct costs
Care Costs
2024
Welfare
2024
Preml$es 15 months to
12 months to
2024
31 March 31 December
2024
2022
staff costs
Depreciatlon
Contract catering
Establishment cosls
Repairs and maintenance
Advertlsing
Office expenses
Subscrlpiions and
publicatlons
Equipment hire
R8sldenls' welfare and
acllvilies
Cleaning, medlcal costs.
unlforms
Motor expens8S
Olher employment costs
Irrecoverable VAT
Agency cost5
Managament charge
8.152,138
3,488.237
204.355
865.958
11.844,730
865,958
770,231
1,088,276
979,213
84,600
315,061
7,035,793
630,398
530,893
538,430
664,944
53,726
121,765
770.231
1,088.276
979.213
84,600
315.061
34.549
27.841
34,549
27,841
23,353
20,037
107.499
107,499
62,289
173.318
50,028
391,497
369.251
291,550
173,318
50,028
391,497
369,251
1,506,210
117,419
28.013
241,51Q
55,296
1,869,878
13,118
1.214.660
Total
9,366,798
6,103.662
3,137.802
18.608,262
12,006,862
Analysis of support costs
Care ¢osts 15 months to
12 months to
2024
31 MarGh 31 December
2024
2022
Staff costs
Printing, postage and stationery
Legal and professional costs
Bank charges & interesl
Gov6rnance costs
Depreciation
Bad d8bl provisions
1,218,558
35,494
198.962
773.091
15.202
97.029
111.070
1.218,558
35,494
198,962
773,091
15,202
97,029
111,070
918,455
31,865
109,871
129,054
15,360
82,382
2.449.4Q6
2.449,406
1,286,987
Governance costs comprise auditorfs remuneration of £15.030 (2022 - £15.360) and Trustees, expens85 of
£172 (2022 - £Nil).
TAXATION
The company Is a registered charfty and is Iherefore entitled to tsx exemptions on all its Sncome and gains,
properly applied for its charitable purposes.
29

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
AUDITOR'S REMUNERATION
15 months to 12 months to
31 March 31 Decémber
2024
2022
Fees payable to the Company's auditor for Ihe audit of the Company's
Annual accounts
15,900
15,600
Fees payable lo the Companys auditor in respect of".
All non-audlt seNices not included above
3,300
3,120
19,200
18,720
15 months to
12 months to
31 March 31 December
2024
2022
EMPLOYMENT COSTS
Wages and salaries
Social security costs
Conlributlon to d8fin8d contribution pension schemes
11,932,425
831,781
232,764
7,248,746
560,424
145,078
12,996,970
7,954,248
During the year, O12022- 2) Redundancy and Te￿nination payments (including salary, notice and accrued
holiday payl were made. tolalling £nil (2022 - £15,350}.
The average number of ￿rson$ employed by ihe Company during the year as follows:
2024
2022
Head count
430
388
The number of employees w￿se employee benefits exceeded £60.000 was".
2024
2022
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£100,001- £110,000
Th8 k@y manag8ment personn&l (other Ihan the Trustees who are not remunerated) of Ihe Charity are th8 Chi8f
Executive Officer, the Director of Care. Director of Human Resources and the Director of Finance. The
remunerallon for ￿1$ team totals £351.902 {2022- £277.126). This includes gross salary. beneflls and employer's
pension contributions.
30

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE PERSOD ENDED 31 MARCH 2024
10 TRUSTEE'S REMUNERATION AND EXPENSES
During the year, no Trustees recoived any remuneratton or other benefits (2022- £Nil).
Durlng th8 year end8d 31 March 2024, expenses totalling £172 were reimbursed or pald directly (2022 -
£Nill.
11 TANGIBLE FIXED ASSETS
Freehold
Property
Leasehold
Improvements
Motor
Vehicles
Flxtur8S
and
Equipment
Total
Cost or valuatlon
At 1 January 2023
Additions
Dlsposals
12,312,450
5,432.423
33.301
25.010
205,781
4,641,385
544,008
17,184,626
5,993,930
21,008
At 31 March 2024
17.711,572
4.002
223,281
5,185,393
23,124,247
Depreclation
At 1 January 2023
Charge for the year
Eliminat8d on dlsposal
1.214.356
326.656
6,791
7,925
10,358
15.014
161.195
20.443
3,399,097
605,530
4,782,573
962,987
Al 31 March 2024
1.534.221
3.269
181.638
4,004,627
5,723,755
Not book value
At 31 March 2024
At 310ecember 2022
16,177,351
11,098,094
733
17.085
41,643
44,586
1,180,766
1,242,288
17 400,493
12,402,053
12
INVESTMENT PROPERTY
Freehold
Investment
Property
Valuatlon
At 1 January 2023
Additions
Disposals
1,599,271
1,385,366
11,052,249}
At 31 March 2024
1,932,388
The Trustees hav8 r8viewed Ihe value of the investment properties and (x)nsider that costs represent the fair
value 8131 March 2024. The inveslment properties are valued by an independent, third party valu6r on a
quinqu8nnlal basis.
Royal Gard6n Flats Was last valued based on an adjusted net rental inwme capitalisation approach on 11 January
2021 by Philip J Pratt Bsc MRICS of Alder King LLP. As he is a related party, tho Trustees of the Finance
Committee have approved the valual¢on on behalf of the Board.
Durlng the year, Trgdwells Courl was sokl for £829.021. resulting in a loss on disposal of £223,227.
31

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
13
FIXED ASSET INVESTMENTS
Investments
Subsldlary
Llstod
company Investments
Total
Cost or valuation
At 1 January 2023
Addillons
Disposals
Revaluations
Movgm8nt an cash held for reinveslment
100
597,887
9,409
(400,0001
52,247
597,987
9,409
{400,000)
52,247
At 31 March 2024
100
259,543
259,643
At year end cash held by the Investment managers totslled £163.309 {2022- £17,158).
Lilian Fallhfull Tradlng Limited is a wholly owned subsldiary of the Charity and managas the Local Authority
care conlracls. Lilian Faithfull Trading Limited made neither profit nor loss and as at 31 March 2024, th8
entity had total net assets of £3,359 (2022 - £1,029).
Lilian Faithfull Homes Limited is a second wholly owned subsidiary. Lilian Failhfull Homes Limited did not
trade during the current or precgding financial year and is a dorvnant company.
Both entities have the same regISte￿d office as Lilian Failhfull Care.
14
DEBTORS
2024
2022
Trade dèbtors
Other debtors
Pr8payments and accrued income
Amounts owed by group undertakings
254,007
25,220
1.213,342
122,157
458,403
2,636
169,483
110,364
1.614,726
740,886
Prepayments and accrued income included £829.021 (2022- £nil) Èn respect of accrued income on th8 sale
of Tredw6115 Court. This was received in April 2024.
15 CREDITORS- amounts falllng due wlthln one year
2024
2022
Bank108ns
Bank overdraft
Trade creditors
oth8r taxation and social security
other creditors
Accruals and deferred income
9.902,991
20.157
686,346
344,504
727,530
152,255
782,051
39LI,820
289,464
554,537
lQ8,461
11.833,783
2,125,333
32

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
16 CREDITORS- amounts falllng due after more than one year
2024
2022
Bank loans
3,120,297
Included within th6 above are amounts falling due as follows:
2024
2022
Between one and two yèars
Bank loans
232,395
Between two and flve years
Bank loans
2,887,902
Over flvo years
Bank loans
As at 31 March 2024, ffte chariiy had not passed financial covenants, and therefore the loans fell due for
repayment within one year, as no waiver had been received by the bank pre year end. Th8re are no indlcalions
that Ihg bank will look lo recover its M￿TreS imminenuy however.
The first loan is secured ty legal charge over both Royal Court. Fiddlerfs Green, Cheltenham, Gloucestershire
and St Faith's Nursing Home, Mafvem Road, Cheltenham. Gloucestershire, and bears a margin rate of 1.580/0
over bas8 rate. The second loan ts secured by means of a legal charge over R&slhaven Nursing Home.
Pitchcombe, Stroud, Gloucestershire, and bears a margin rale of 1.95Yo over base ratè. The thlrd loan has no
addllional s8curities to those already listed and bears 8 margin Tate of 1.7°fi over base rate. For the two new
loans taken out within the 2024 period. these have interest rates of 1.7% over Margin and 6.95 /0 r&sp6clively,
and are secured ovor Bay Tree Court.
17 FINANCIAL INSTRUMENTS
2024
2022
Financlal assets
Financial ass8tS rn6asured al fair value through income and
exp8nditur@
227,869
597,887
Finan¢Sal assets measured at falr Yalu& through income and expenditure comprtse listed investments. All other
finanoi81 ass8ls and Ilabilities are measured at amortised cosl.
33

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (conllnued)
FOR THE PERIOD ENDED 31 MARCH 2024
18 FUNDS
At1
January
2023
Incoming
resources
Outgoing
resources
Transfers
Galns I
(losses)
At31
March
2024
Deslgnat8d
funds
Emergency
Maintenance
Fund
Assist8d
Places Fund
750,000
(750.(K)O)
500,000
(5(M),000)
1,250,000
(1,250.000)
General funds
Free Reserves {1,155,315)
Tangibl8 fixed
8,499,705
assets
Inv8stmenl
propety
Merger reserve
19.624.164
(21.057,668}
1,979,086
(1,002.203)
61,934
1547,799}
7,497,502
1,599,271
333,117
1,932,388
8,943,661
19.624.164
(21,057.668)
1.310.000
61,934
8,882,091
Total
unrestricted
funds
10,193,661
19.624.164
{21,057,668)
60,000
61,934
8,882,091
The £60,000 transfer abov8 represents a transfer from restricted funds. as explained further in note 19.
34

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
19 RESTRICTED FUNDS
At
1 January
2023
At
31 March
2024
Incoming
resources
Outgolng
resources
Transfer
in the yèar
Donations
533.969
30,174
(60,000)
504,143
533,969
30,174
(60,000)
504,143
Restrlcted Funds
Donatlons
Donalions brought forward relate to assets acquired when Lilian Failhfull Care m8rged wlth Catharine Ball
Almshouse. A small number of donations were received in the period to 31 March 2024 which are restrlct6d du8
to them being gifted for specific projectslitems. During the year. £60.000 was spent on two of the flats using
these r8slrlcled donations. and a transfer with unrestricted fijnds Occurr￿1.
20 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Total
Funds
2022
Tangible fixed assets
Fixed 8Sset investments
Investment property
Current assets
Creditors due wlthin one year
Creditors due in rnore than on8 year
Transfers in the year
16,866.524
259,643
1,932.388
1.597.320
(11.833,784)
533.969
17.400,493
259,643
1.932,388
1,627,494
(11,833,784)
12,402,053
597,987
1,599,271
1,373,949
{2,125,333)
13,120,297)
30.174
60,000
(60.000)
Total
8.882,091
504.143
9,386,234
10,727,630
35

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE PERIOD ENDED 31 MARCH 2024
21
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2022
Net income for the period
(1,341,396)
461,280
Adjustments for:
Depreciation charg6S
Lossesllgains) on inv6stments
Financ8 costs
Loss on disposal of tangible fixed assets
Dlvldends, interests and rents from iF)vestments
Non cash income r8ceived
Ilncreaselldecrease in debtors
Increas81{decrease) in creditors
962,987
(61,934)
762,828
208,243
(572,6471
712,780
67,657
123,446
536
1126,539)
500,000
(114,858}
41,701
(873,840)
556,923
Net cash (absorbed by) I provided by operatlng activities
(358,836)
1,666,003
22
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2022
Cash in hand
Cash held for r8inv8stm8nt
12,767
163,309
633,Q63
18,342
Total cash and cash equSvalent5
176,076
651,405
23 ANALYSIS OF CHANGES IN NET DEBT
At 1 January
2023
Cash flows
Non cash
movements
At
31 March
2024
Cash al bank and in hand
D8bt due within 1 year
Debt due after 1 year
651.405
(782.051)
(3.120,297)
(475.329)
(5,955,007) {3,165,9331
3.120,297
176,076
19,902,991)
(3.250.943)
(6.430.336}
(45,636)
(9,726,915)
24 PENSION COMMITMENTS
The Charlly operates a definèd contribution pension scheme. The pension cost charg$ for the period
represents Gontribulions payable by the Charily to the scheme and amounted to £232,764 (2022 - £145,078).
At th8 ond of the period outstanding contributions amounted to £34.698 {2022 - £NII}. All pen8ion charges are
charged lo unreslricled funds, in line with the fund out of which the wages and salaries are paid.
36

LILIAN FAITHFULL CARE
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE PERIOD ENDED 31 MARCH 2024
25 OPERATING LEASE COMMrrMENTS
At 31 March 2024 the Charity had commilmenls lo make future minimum lease payments under non-
cancellable operating lèases as follows:
2024
2022
Land and bulldlngs
Within 1 year
B8twe8n 1 and 5 years
Afl8r more than 5 years
75,210
6,729
68,964
95,775
27,293
108,268
Total
150,903
231,336
Plant and machinery
Within 1 year
B8tWg&n 1 and 5 years
Aft&r more than 5 years
112,542
370,219
145,399
112.542
403.535
252,684
Total
628,160
768,761
26 RELATED PARTY TRANSACTIONS
At 31 March 2024 the Charitywas owed £122,157 {2022- £110.363) by Lilian Faithfull Trading Limited, its
subsidiary undertaking. The loan is inlerest free aTKI has no fixed repayment temts.
37