Company reglstratlon number 06481146 (Enyland and Walesl Charlty registration number q124492 (England and Wales) CAREFREE CORNWALL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
CAREFREE CORNWALL LEGAL AND ADMINISTRATIVE INFORMATION Trustees M C Ellis M Bignell A Earle R Grant S Griffilhs N Johnson (Appointed 28 January 20261 Company Secretary S M Eggins Country of Incorporatlon United Kingdom (England and Wales) 06481146 Charlty reglstratlon England and Wales 1124492 Registered office Carefree Cllnlon Passage Redruth Comwall TR15 2AY Audltor BK Plus Audit Limited 4 Slalion Road Redrulh Comwall TR15 2AB Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ
CAREFREE CORNWALL CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent auditor's report 8- 11 Slalement of financial activities 12 Balan sheet 13 Stslemenl of cash flows Notes lo the financial statements 15-35
CAREFREE CORNWALL TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees présent their annual report and financial statements for the year ended 31 De¢ember 2025. The financial slalemenls have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP 'l*counling and Reporting by Charities.. Statement of Recommended Practice aplble to Gharilies preparing their aGcounls in accordance wlh the Financial Reporting Standard applicable in th& UK and Republic of Ireland IFRS 1021" Objectlves and actlvltles Public benefit The Iiuslee5 confirm that they have complied with the r@quiremenls of section 17 of the Charities Act 2011 to havè due regard lo the public benefit guidan published by the Charity Commission for England and Wales. The objects of the Charity are.. To act as a resource for young people up lo thfr ag8 of 25 with particular focus on those aged 13 10 17 living in Comwall and who have been, are or al risk of being in care by providing advice and assistance and organising programmes of physical, educational and c)Iher activities as 8 means of_. a) Advancing in life and helping them by developing their skllls, capacities and capabilities lo enable them ID participate in society as independent, mature and responsible individuals," bl Adv?ncing education and training., cl Relieving tjnemployment., dl Providing recreational and leisure lime activity in the interests of social welfaie lor young people living in the area of benefit who have need by reason of their youth, age, infirmity or clisability, poverty or social and economic circumstan¢6s with a view to improving the conditions of life of such persons. The principal activity of the charity is lo help yOLJng people who are care experienced have a good life, through posib've relationships. through support with transitions and through enabling young people to have a vol. The Charity changed ils nama from Carefree-Fosl&ring Independence Cornwall lo Carefree Comwall on 24 July 2025.
CAREFREE CORNWALL TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Achievements and performance Significant Jclivities and achi&vemenls agsinst objectives Our Target Outcomes for 2025 are set out below, followed by an infographi¢ of how we achieved them.
CAREFREE CORNWALL TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 c 4 Carefree CoffbwAI ANNUAL REVIEW 2028 I*)¢ 111•. S44 8REAXDOWPI: JJI ij Amongst the achievernents of 2025. Trusteès want to highlight some key areas. Carefree Cornwall celebrated our 20th Annlvèrsary. Carefree began as an idea wth young people, foster carers, social workers and others in the early 2000's. On January 1 st 2005 we began lo have paid employees who were able to develop the organisalion alongside young people. In July 2025 we celebrated 20 years since our first youth programme began, with an event al Scorrier House Redrulh. The highlight of the event was a panel of experts by experience, Carefree Icons, who had experienced Carefree setvices in their teens and early twenties and who could look back as adults on what il had meant to them. They tslked about the support of Personal Advisors, the way Carefree supports young Feople over many years, Peer mentoring, having a voice and the skills they had developed because of the organisalion. One young person said 'Carefree have always made il clear that they were there for you then, they are there for you now and they wll be there for you in the future,. A significant development in 2025 is that we changed our name. When we originally registered with Companies House and then the Charity Commission, we called ourselves 'Carefree Fostering Independence Cornwall, because we thought that a significant outcome of our work would be promoting independent living skills as yNg people became care leavers. However, r( became apparent that the most important thing that young people weTe gaining from our work involved making friends and having strong relationships with staff. Our fDCUS was really about promoting positive relationships, from which other learning, in¢lLJding independent living skills, would follow. Dropping 'Fosten9 Independence, in our 20th year was an acknowledgement of this leaming. We supported a record 644 young people. In the year that we celebrated our 20th anniversary, we also celebrated reaching 100 times more young people that the 6 we began with in 2005. 72 young people gngagod In local participation. In 2025, young people chaired Comwall's Corporate Parenting Board in two young people's Takeover events, ensuring that relationship based, trauma informed services were a priority along with better housing for care leavers. Young people also helped to recruit and train social workers and foster carers and engaged in National opportunities like the National Leaving Care Benchmarking Foruln.
CAREFREE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 91 Care Leavers were enabled to sustain stable housing. Over the last three years Carefree has moved from supporting young petsple to campaigrt for better hotjsing to supporb'ng bespoke accommodation. Through 2025 we developed a team which provided ffloaling support lo care leavers in their first homes. Part of this service included delivering supported housing service5 at a project in Sl Austell for six care leavers at a lime, in partnership with Ocean Housing and Comwall Council. We have worked closely with these partners to develop the provision as a service lo care leavers and have been integrally involved in helping lo evalLJale the pilDI. 33 Young people aged 14-24 volunteerlng to support others. In 2025, 33 young people were trained and enabled to support their peers. Young people's leadership and their support of others has been central lo our work since C8refree's inning, when six young people became our first ever Peer Mentors. Young people who are care experienced are a powerful role model lo their peers. Engaging young people and connectino with them to enable them to take part in activity that builds positive relationships offers young people lifelong skills in building positive relationships, engaging with communities and having 8 network lo rely on. 61 young people who were Separated Chlldren Seeklng Asylum received speclallst support to belong and Integrate In the Cornlsh ¢ommunlty In 2025 our Slalutory team oflered young people who were children seeking asylum wilhoul their parents in depth SiJPPDrt across 3 months to settl@ in accommodation, develop English Language skills and access education. Our Voluntary delivery team complemented this work by enabling SCSA young people opportunities lo integrate into Cornish culture and share their own culture with Comish origin care leavers. What young people sald about our sorvlce.. Carefree has played a big part in my life. helping me build connections with others and supporbng me to overcome the challenges I have laced over the last 7 years Carefree means safely and a place to have fun and be yourself Carefree is like my other family Carefree helps young people new to the care system meet other young people in care Carefree has allowed me lo make new friends and try things I would never have tried befote As a peer mentor, I love helping other young people Working in Partnership Throughout 2025, Carefreè ha5 worked closely with local and nalSonsl partners who include,. Cornwall Council - the social workers, f051er carers and PA'S who woik directly with the young people we serve but also the wider Local Authority as it continues lo develop its ability lo be a good Corporate Parent Health. particularfy the designated nurse team for children In care Schools and colleges, and Awena, the Virtual SchcK)I for Childn in Care Voluntary and Community sector partners that Carefree has grown up wth, and leamt so much from along the way - including NLD, BF Adventure, Young People Cornwall. Barnardos, A Band of Brolhers, Ocean Housing and the Voluntary Sector Forum Our business delivery partners, including Out of the Box IT
CAREFREE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Financial review The results for the year are shown in the slatemenl of financial activÈthes on page 12 and show net incoming1 loulgoingl resources for the year of £1109,243112024.. £68,676), a deficit of £2,070 was generated in respect ol unreslricled funds12024 surplus." £39,177). Notes 18 and 19 of the financial stslements delalls the Fund balances held by the charity. There is a deficit on the Comwall Council - 18+ Care Leaver Service reslricled funé of £7,973 as al 31 December 2025. This is due to the liming of attributsble cost5 incurred in the period that have been allocated lo this fund. The charity is due to ieceive income in the forthcoming period, as part of the funding agreement, that will eliminate this defieil. Resehves policy The charity holds threè months running costs plus closure costs al year-end in line wrth ils reserves policy. This 1$ monitored monthly. The balance in unrestricted resetves as at 31 December 2025 is £311,230, comprising designated closure costs Df £191,289 and general reserves is £119.941. which is assessed as adequate lo support the organisation's financial stability going fonardS, Investtnentpolicy The Iruslees have considered the most appropriate policy for invesling funds and find that the Current arrangement with short temi bank deposits meals the requirement lo gener818 a reasonable relum on capV(al whilst maintsining access to funds for operational purposes, Risk n7anagen7ent Thè trustees have examined the major strategic risks lo whieh the charity is exptrsed and arè satisfied that systems are In place lo minimise or miligale these. The trustees will conbnue lo review potential risks on a regular basis and will take further action to minimise or mitigate these risks as required. Plans for future periods Activities planned to achieve aims Our plans focus on continuing to ensure that care experienced young people have a better life through promoting positive relationships, supporting at limes of transition and giving young people a voice. 2Q26's work will build on our group work for young people from age 11, our one lo one Sclvice and guidance and SUPPDrt in leaving care. We will continue lo develop our strategic influence in leTms of enabling care leavers lo find good homes. We will be developing more strategies to offer skilled, ir¢lensive support lo young people who are fi'nding social engagement More challenging. Strncture, governance and management Carefree Cornwall is a Company limited by Guarantee governed by its Memorandum and Arti¢les of Association dated 23 JanLJary 2008 and amended 23 May 2008 and July 24 2025. 11 became a registered charity with the Charity Commission on 12 June 2008. the event that the charity is wound up, the members agree lo contribute an amount of not more than £10 to the assets of the Charity. The trustees, who are also the directors foi the purpose of Gompany law, and who served during the year and up lo the date of gignalure of the financial slalemenls were.. M C Ellis M Bignell AEarfe R Grant S Griffiths N Johnson J B Hampton (Appointed 28 January 20261 (Resigned 16 July 20251
CAREFREE CORNWALL TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Recruitment and appointment of Imsle&s The diréctors of the company are also charity trustees for the purposes ol charity law. Thè trustees may appoint a person who is willing to act Its be a trustee. Potential trustees meet the trustees and management prior lo the propos81 as a trustee. On¢e appointed, trustees undertake an induction into the working of the charity in¢lucling observing operational activity, discussions wlh staff and reading information such as accounts and other evaluation documents. Organisational stwctu The trustees are legally responslble for the overall control and management of the chaflty. The Chief Executive Officer is responsible ftsr the Qay-lo-day management and aclministralion of the charity and reports to the trustees. Remuneratson policy The trustees consider the Chief Executive Officer, Finance Manager and People and Contracts Manager lo comprise the key management personnel of the charity. The pay of the senior staff is reviewed annually and normally increased in accordance with aVere earnings. In view of the nature of the oharily, the Trustees benchmark against pay levels in other similar organisalions. Dlsclosure of Infom)at5on to audltors Each trustee has taken steps that they ought to have taken as a trustee in order to make Ihemselvès aware of any relevant audit information and to estsblish that the Charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which Ihey know the auéilor is unaware. The Iruslees. report was approved by the 8oard of Trustees. M C Ellis Trustee Date..
CAREFREE CORNWALL STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees, who are also the difectors of Carefree Comwall for the PUTpose of eompany law, are responsible for preparing the Trustees, Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Stand8rds (United Kingdom GÈnerallyAecepled Accounting Praetieel, ineluding FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Irel4n4" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and ol the incoming resources and application of resourcès, including the income and expenditure, of the charitable company for that ye8r. In preparing these financial statemenls, the IrLEslees are required lo- select suitable accounting policies and then apply them Gonsislenlly.. observe the methods and principles in the Charities SORP., make judgernenls £nd estimates that are reasonable and prudent., and prep8Te the financial statements on the going concern basis unless il Is inapproprlale tts presume that the charity 11 continue in operation. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charily and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CAREFREE CORNWALL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CAREFREE CORNWALL Oplnion We have audited the financial statements of Carefree Cornwdll (the 'charily'l for the year ended 31 December 2025 which comprise the statement of financial activities, the balan sheet, the statement of cash flows and notes lo the financial statements, including significant accounting policies. The financial reporting tramework that has been applied in their preparaliDn is applicable law and United Kingdom Accounting Sl8ndards, including Financial Reporting Sl?ndard 102 The Financi81 Reporting Standard applKable in the UK and Republ of Iland IUnileLf Kingdom GenerallyAccepted Accounting Praclicel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of th@ charitabte company's affairs as at 37 December 2025 and of its incoming resources and appli¢alion of resources. for the year then ended., have been properly propared in accordance with United Kingdom Generally Accepted Accounty'ng Practi., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicablè law. Our responsibilities under those standarols are further desoribeol in the Auditoffs responsihilrfies for Ihe audit ol the financial slatgm&nls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit eviden we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial slalemenls. we have concluded that the trustees. use of the going concem basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that. individLJally or collectively, may cast signrficant doubt on the charity's ability lo continue as a going concem for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect to going concérn are described in the relevant sections of this feport. other information The other infomialion comprises the information included in the annual report othor than the finala1 statements and our auditor's report Ihereon. The trustees are responsible for the other inform81ion contained within the annual report. Our opinion on the financial slatemenls does not cover thé other infomialion and we do not express any form of assurance conclusion IhÈreon. Our rèsponsibility Is lo read the other information and, in doing so, consider whether the other information is materially inconsistènt with the financial statements or our knowledge obtained in the course of the audit, or olherwse appear5 to be fflalerially misstsled. If we identify such Thaterial in¢c>nsislencies or apparent material misslalements, wè are required to determine whether this gives rise to a materi81 misstatement in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a mateaal misslatemenl of thi5 other intomation, we are reqUId to report that lacl. We have nothing to report in this regard.
CAREFREE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAREFREE CORNWALL Matters on whlch we are requlred to report by excèptlon In the light of our knowledge and understanding of the charity and ils environment obtained in the course of the audfc, we have not identified material misstslements in the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requir& us to report lo you if. in our opinion". adequate accounting records have not been kept, or relums adequate for our audtt have not been reiVed from branches not visited by us., or the financial statements are not in agreement with thè accounting records and retums., or rtain disclosures of trustees remuneration specified by law are not made., or the trustees were not entitled lo prepare the financial statements in a¢cordan¢e wilh the small ¢ompanies reglme and tske advantage of the small companies, exomplions in preparing the Iruslees, report and from the requirement to prepare a strategic report Responsibilities of trustees As explained more lully in the slalement of Iruslees, responsibiltiies, the Iwslees, who are also the dire¢tors of the charity for the purpose of coillpany law, are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, 8nd for such intern81 Control as the truste&$ delemiine is necessary tD enable the preparation of financial slalemenls that are free from material misstatement. whether due lo fraud or error. In preparing the financial slalements, the Iruslees are responsible for assessing the charity's ability I continue as a going coneem, disclosing, as applicable, matters related lo going concern and using the going concem basis of accounting unless Ihe trustee5 eitheT intend lo liquidate the charitable company or lo cease opeiations, or have no realistic alternative bul lo do $0. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accofdance wth the Act and relevant regulations made or having effect Ihereunder. Our objeth'ves are lo obtain reasonable assurance about whether the financial slalements as a Who are free from material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable 8ssurance is a high level of assLJrance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalement when it exists. Misstatements can arise from frad or error ané are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users tsk&n on the basis of these financial slal&m@nl$. The extent lo which our procedures are capable of deleeling irregularities. Including fraltd, is detailed bèlow. We obtained an understanding of the legal and regulatory frameworks that are applicable ID the eh*ity al the planning stage of the audit. The charity is subject lo laws and regulations that directly affect the financial statements, specifi¢ally the Companies A¢1 2006. Charities Act 2011 and Charities Statement of Recommended Practice. We assessed the extent ol complian¢e with laws and regulations as part of our PTocedures on the related linanci81 $18temenl itèms_ The charity is also subject lo laws and regulaliDns where the Consequences of non- compliance could have a material effect on amounts or disclosures in the financial slatemenls, for in8tar)ce through the imposition of fines or litigation or loss of the charity's ability lo operate. In n7aking this assessment we determined that the most significant elèments of legislab'on include those relating lo employrnenl laws and regulations, health and safely stsndards and social care.
CAREFREE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAREFREE CORNWALL Based on thi5 understanding we designed our audit procedures to idenlrfy non-compliance wlh such laws and regulations. Our procedures involved the IDllowing'. Making enquiries of management regarding their knowledge of any non-compliance wlh laws and regulations that Could affect the financial stslemenls. As part of these enquiries, we also discussed with management changes in risk assessment relating lo fraud, and whether there have been any known instances, allegations or suspicions ol fraud, of which there were none. Considering the filings made at Companies House and any omissions Ihereon, of which none were identified. Discussing with management compliance with health and safety and social care legislation. Making anquiries of management and reviewing charity expendilure for any evidence of disputes, actual or potential litigations ?nd ¢laims, with regulators or any other such body. ALJdited the risk of management override of controls, including through testing of journal entries and olher adjustments for appropriateness, and evaluating the rationale for significant transacb'ons Outside the normal course of charitable activities, of which there were none. Reviewed the &slimates and judg8m8nts made in the financial slalemenls for any indication of bias and challenged assumptions used by management in making the eslimales. Reviewed B08rd minutes and ¢orrespondertce with regulators to ¢orroborale the ffinding from the above. Due lo the inherent limitations of an audit, there rernains a risk that we may not have detected some malerl81 misstatements in the financial statements or non-compliance wth laws and regulations. This is despite the fact that we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed irregularib.es are from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there remained high risk of non-delection and irregulsrities, as these may involve collusion, forgery. intention81 omissions, misrepresenlalions. or the override of internal controls. This risk was reduced by a thorough revièw of all Controls In place that monitor items and transaction5 affecting the financial slalemenls. The primary responsibility for the prevention and detection of the irregularities and fraud rests with the Iruslees of the charity. I relevant laws, regulations and significant risks of fraud identified have been cleaty communicated lo each member of the audit engagement team. We are not responsible for preventy'ng non-complianco and cannot be expected lo detect non-compliance with all laws and regulations. A further descTiplion ol our responsibilitie5 is available on the Financial Reporting Council's website al-. https".11 www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. Use of our report This report Is made solely to the charity's tmslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regul8tlons 2008. Our 8uéil work has been undertaken so that we might slate lo the charily's Iruslees those matters we are rèquired lo slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume re5ponsibilily lo anyone other than the charity and the ¢harily's Iruslees as a body, for our audit work, for this report. or for the opinions we have fomied. Davld Hastlngs FMAAT, ACA IS8nlor Statutory Auditor) For and on behalf of BK Plus Audit Limited, Stalulory Auditor Chartered Certified Accounlanls 4 Station Road Redrulh Cornwall TR15 2AB Dale-. 10-
CAREFREE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAREFREE CORNWALL 8K Plus Audit Limited is eligible for appointment as auditor of the charity by virtue of its digibility for appointment as auditor of a company under section 1212 of the Companies Acl 2006.
CAREFREE CORNWALL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Restrlcted funds funds 202S 2025 Total Unre5tri¢ted Re$triGted funds funds 2024 2024 Total 202S 2024 Note5 Incom• from: Donations ancl legacies Charitsble actlvltles Investments 3,439 39,601 8,674 3,439 1,556.399 1.596,000 8,674 11,370 55,151 8,434 11,370 1,415,382 1,470,533 8,434 Total income 51,714 1.556,399 1,608,113 74,955 1,415,382 1,490,337 Expendltur8 on.. Charitsble activities 52,574 1.664.253 1,716,827 36,187 1,385,883 1,422,070 Total expenditure 52.574 1,664,253 1,716,827 36,187 1,385,883 1,422,070 Nel gainslllossesl on investments (529) 15291 409 409 Net incomellexpenditurel {1,3891 (107,8541 (1 D9,2431 39,177 29,499 68,676 Tr8nsfers tween funds 16811 681 {3,878) 3,878 Net movement In funds {2,0701 1107,1731 1109.2431 35,299 33,377 68,676 Reconclllatlon of funds.. Fund balances at 1 January 2025 313,300 241,578 554,878 278,001 208,201 486,202 Fund balances at 31 December 2025 311,230 134,405 445,635 313,300 241,578 554,878 AJI of the thanty's activities derive Irom continuing operations during the above two periods. The slalemenl of financial activities includes all gains and losses recognised in the year. The notes on pages 15 10 35 form part of these financial statements_ 12-
CAREFREE CORNWALL BALANCE SHEET AS AT31 DECEMBER 2025 2025 2024 Notes Fixed assets Tangible assets Investments 12 13 6,463 2,355 5,119 2,884 8,818 8,003 Current assets Debtors Cash at bank and in hand 133,249 408,155 100,349 597,378 541,404 697,727 Crèditors.. amounts falling due wlthin one year 15 (104,5871 1150,8521 Net current assets 436,817 546,875 Total assets less current Ilabllltles 445,635 554,878 The funds of the charlty Restricted income ftjnds Unrestricted funds 18 19 134,405 311,230 241,578 313,300 445,635 554,878 The notes on pages 15 to 35 fomi part of these financial statements. Registration number.. 06481146 The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. The financlal slalements were approved by the trustees on . M C Ellis Trusts8
CAREFREE CORNWALL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Notes Cash flows from operating activIe$ Cash labstsrbed byllgenefaled from operations 24 1194,3831 180,136 Investing activities Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Inv8Stmenl income received 13.5141 16,1201 (5,3591 7,926 8,434 8,674 Net cash generatèd from investlng activities 5,160 4,881 Net cash generated from flnanclng acuvltles Net Ide¢r&asellincrease In cash antl cash equivalents {189,223) 185,017 Cash and cash equivalents at beginning of year 597,378 412,361 Cash and cash equlvalents at end of year 408,155 597,378 The notes on pages 15 to 35 form p8rt of these financial stslemenls. 14-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policie$ Charlty Informatlon The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Iruslees is liable to contribute an amount not exceeding £10 towards th@ assets ol the charity in the event of liquidation The address Df ils registered office is.. Carefree ClinlDn Passage Redrijlh Cornwall TR15 2AY 1.1 Basls of preparatlon The Charity is a public benefit enty'ty as defined by FRS 102. The lin8ncial ststements have been prepared in aecordanee with the charity's Memorandum and Articles ol Association, the Companies Act 2006 and "Accounling and Reporting by Chafilies.. Slalemenl of Recommended Practice applicable to charities paring their accounts in accord8nce with the Flnancial Reporting Standard applicable in the UK anLI Republic of Ireland IFRS 102}-. The financial slatemeTrts are prep?red in sterfing. whi¢h is the fvnctional currency ol the charity. hllonetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The prfnclpal accounting policies adopted and applied in the preparation of these financial statements are sel out below. These policies have been consistently applied lo all the years presented. unle55 Otherwise stated. 1.2 Going concern The finanGial stateellts have been prepared on a going concern basis. Al the lime of approving the financial 51alemenls, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for thè foreseeable future. Thus the IrLBlees continue to adopt the going concem basis of accounting in preparing the financial slalements. 1.3 Charitable fund5 Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled fvnds are subject lo spe¢ift¢ conditions by donors or grantors as to how they may be used. The purposès and uses of the rèslricled funds are sèt out in the notes to the financial slalements. EndDwment funds are subject lo specific conditions by donors that the ¢apital musl be maintained by the charity. 1.4 Income Ineome is recognised when the charity is legally enlilled lo il after any pertormance conditions h8ve been met, the amounts can be measured reliably, and il is probable that income will be re1ve. Cash tlonalions are recognised on Teceipl. Other donations are recognised once the charity has been notified of the donation, unless performance eondilions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. 15-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Contlnuedl La¢le$ are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. Investment income is reGognised on a receivable basis. Grants receivable Grants are recognised when the charity has an entitlement to the ftjnds and any conditions jinxed to the grants have been mel. Where performance conditions are allached lo the granl and are yel lo be met, the income is recognised as a liability and in¢luded on the ba18nce sheet as deforred income lo be relessed. Deferred Income Deferred income repr@senls amounts received for future periods and is released lo incoming resources in the period for which. il has been received. Such income is only deferred when". The donor specifies that the grant or donation musl only be used in luture accounting periods; or The donor has imposed conditions which must be mel before the charity has unconditional entitlement. 1.6 Exp¢ndlture Expenditure is recognisecl once there is a legal or conslruclive obligatn lo transfer economic benefit to a third party. il is probable that a transfer of economic benefi'ts will b& required in selllement, and the amount ol the obligation ¢?n be measured reliably. Al Costs are allocated lo the applicable expenditure heading that aggregate similar costs to that category. Charitable activities Charitable expenditure MPriseS those costs incurred by the charity in the delivery of its ?clivities and services for its beneficiaries. 11 include8 both costs that can be allDcaled directly to such aclivties and those costs of an indirect nolure necessary lo support them. Support costs Support costs indude ¢enlral functions and have been allocated to activity cost categories on a tAsis consistent with the use of resources, for example, allocating staff costs by the lime spent and other costs by their usage. Governance costs Governance costs include costs of the preparation and examination of the slalutory accounts, the costs ol trustee meetings and the cost of any legal advice lo trustees on governance or constilulional matters. 1.6 Tanglble flxed assets Tangible fixed assets costing £500 or more are capilalised and are inib.ally measured at cost subsequently measured al cost or valuation, net of depreciatlon and any impairment losses. The gain or Ios5 arising on the disposal of an as5el is deleimined as the difference belween the Sale proceed5 and the carrying value of the asset, and is recognised in the statement of financial aclivitses. Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, les5 8ny eslimaled rèsidual value, over their expected useful economic life as follows,. Fixtures and fittings 250kn slraighl line basis Impalrmgnt of flxod assets At each reporting date, the charity reviews the carrying amounts of ils tangible a5S2ts to determine whether there is any indication that those assets have suffered an impairment loss. If any such indications exlsts, the recoverable amount of the asset is eslimaled in order to determine the extent of the impairment loss lif any). 16
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles (Continued) 1.7 Fixed asset investments Fixed asset investments ?re initially measured al transactKJn price exGluding transaction costs, and are subsequently measured at fair value al each reporting date. Changes in fair value are COgnised in net ineomellexpendilurel for the year. Transaction costs are expensed as incurreLI. 1.B Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilrties. 1.9 Financial Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial nStrUMen1$_ Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial Stateménts, when there is a legally enforceable right to sel off the COgnised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclalassets Basic financial assets, which include debtors and cash and bank balances, are inib.ally measured at transaction price including Iransaclion costs and are subsequently carried al amortised GOSt using the effective interest method unless the arrangement Conslitules a fi'nan¢lng Iransacllon, where the transaction 1$ measur&d al th8 pr8senl va5ue ot the future receipts discounted al a market rate of Interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilitses Basic financial liabilities, including credilois and bank loans £re initially recognised al transaction price unles8 the arrangem@nt conslitules 8 fin8ncing Iransaclion, where the dèbt instrument Is measured al the present value of the future payments discounted al a market rate of Interest. Financial liabilities dassified as payable within one year are not amortised. Debt instrumgnts are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for go5 or services that have been acquired in the ordinary coutse of operations from suppliers. Amounts payable are classlfied as current liabilities if payment is due within one ye8r or less. 11 not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction and subsequently measureot al amortiseLI cost using the effective interest method. Derecognition of financial IITahilities Financi81 liabilities are derecognised when the charity's contractual obligations expire or are discharged or eaneelled. 1.10 Taxatlon The charity is considered lo pass the tests set out in Poragr?ph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK CDrporation tax purposes. Accordingly, the eharity is potentially exempl from laxalion in respect of income or Capital gains received within categories covered by Chapter 3 Part 11 of the CoTporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively lo charitable purposes. 17-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies ICont4nuedl 1.11 Employ0& benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's Services are received. Termination benefits are reeognised immediately as an expense when thè charlty is demonstrably commilled lo terminate the employment of an employee or lo provide lerminalion benefits. 1.12 Retirement benefits Payments to defined conlr¢bulion retirement benefit heM&S are charged as an expense as they fall due. Crltlcal accountlng estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, e51imales and assumptions about the carrying amount of assets and liabilities Ihal are nel adIlY apparent from othèr sources. The estimates and associated assumptions are based on historical experience and other factors that are consid&red lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the eslirnale is revisecl whère the rèvision affècts only that period, or in the period of the Tewsion and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestrlcted Unrestrlcted funds funds 2025 2024 Donations and grfts 3,439 11,370 Income from charitable activities Unrestrlcted Restricted funds funds 2025 202S Total Unrestricted RestriGted funds tunds 2024 2024 Totsl 2025 2024 Income from Charitable activities Big Lottery BBC Children In Need Bleu Blan¢ Rouge FoundaliDn Esmeé Fairbaiin Cornwall Council Leaving Care Service Cornwall Council Engagement & Participation Servicg Comwall Council - Broadening HoTizons 47.559 36.904 47,559 36.904 49,908 34,390 49,908 34,390 75,000 70,000 75.000 70,000 75,000 50,000 75,000 50,000 328,516 328,516 334,112 334,112 112,588 112,588 112,591 112.591 3,750 3,750 25,000 25.000 18-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charltable actlvltles Iconiinued Cornwall CoLJncil Levelling Up Cornwall Council Culture Card Cornwall Council - CIAG NEETS Comwall Council - Separated Children Seeking Asylum Cornwall Council Tenancy Support Grant Comwall Council - Benan Chy - Housing Cornwall Council - EHCP Skills Future other Income DVVP Access lo Work MHCLG Cornwall Council Multiply Cornwall Council - OWP Household Support Grant Cornwall CDunciI Compass Family Finding 8efriending and Mentoring Comwall Community Foundation- People in Mind Cotnwall Council- Youth Engagement Project Awards 4 All NHS Univeysal Family Proje¢l Comwall Voluntary Sector Forum Comwall Community Foundation- Welcome Project Comwall Community Foundab"on- Careleavers Fund Comwall Council - People Hub EKB Funcl- Health & Wellbeing Cornwall Council - SPF Capacity Building Other Grants and nlracts Cornwall Community FoundaliDn - Brighter Future Fund 37,500 37,500 4,000 4,000 24,974 24,974 24,974 24,974 99,373 99,373 95,187 95,187 52,681 52,681 114,936 114,936 9,333 225 9,333 10,281 10,056 55,151 500 3.330 64,659 55,651 3,330 64,659 86,212 86,212 17,452 17,452 69,299 69.299 19,000 19,000 15.500 15.500 1,202 1.202 110,789 110,789 121,623 121,623 12,500 12,500 12,500 12,500 51,671 51,671 72,781 20.000 72,781 20,000 8,60Q 8,600 28,300 28,300 1,150 1.150 5.000 5,000 70,000 70,000 70,000 70,000 90.836 90,836 22,876 22,876 20.000 20,000 20.000 20,000 18,000 18,000 40,000 40,000 30.000 30,000 4,545 4,545 19-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charltable actlvltles Continued) Cornwall CcimmLJnity Foundation Housing Action Fund KPMG Fund Penlee House Gallery and Museum Yolingey Barbarians TSJRTrusl 5,000 5,000 25,000 25,000 7,500 2,000 35,000 7,500 2,000 35,000 39,601 1,556,399 1,596.000 55,151 1,415,382 1,470,533 The amounts Included other grants and contracts for Ihls year iNcluLle the following for speeific purposes.. £40,000- Segelman Trust Government grants reGognised in the financial statements are made up of fud5 from Cornwall Council, funded by the government. The amount of gwanls recognised in the financial slalemenls was £1,126,111 12D24- £820,900). Income from Investments Unrestricted Unrestrlct8d funds funds 2025 2024 Interest receiv8ble 8,674 8,434 20-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expendlture on charitable activlues Expenditure Expendlture on on charltable charltsble actlvltles actlvlties 2025 2024 Dlre¢t costs Staff costs Depreciab'on ?nd impaimienl Activity venue hire Project resources Young peoples travel Other proje¢l Gosls Funds 4 care purchases Household Grants Other Staff Costs 1,280,717 2.170 3,752 16,587 51.140 26,269 34,986 26,500 85,134 973,156 1.464 2.277 14,637 45,365 25.122 37,090 28,000 94,329 1.527,255 1,221,440 Share of supportand governance costs (see note 71 Support Governance 178,511 11,061 189,722 10,908 1,716,827 1,422,070 Analysis by fund Unreslricled funds Reslricled lunds 52,574 1,664,253 36,187 1,385,883 1,716,827 1,422,070 21
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs allocatsd to actlvltle5 2025 2024 Staff costs Rent, rates ancl insurance Repairs and mainlenanc@ Telephone and fax Computer software and maintenance eosls Printing, postsge and ststionery Sundry expenses Sundry expenses Cleaning Bank charges Govemance costs 105,840 23,493 6,760 19,771 6,489 2,407 788 9,642 3,180 181 11,061 92,392 20,568 41,426 15,993 3.830 4,671 265 7.382 3,027 168 10,908 189,572 200,630 Analysod between: Expenditure on charitable activities 189,572 200.630 2025 2024 Governance costs comprise- Audit fees Accountancy Legal ané professional 5,940 5,040 81 5.940 4.920 48 11,061 10,908 Net movement in funds 2025 2024 The net movemenl in funds is ststed after ¢hargingllcredilingl'. Fees payable for the audit of th& charity's financial statements Depreciation of owned langible fixed assets 5,940 2,170 5,940 1,464 22-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Tru5tee5 Trustees r&muneratlon and expenses During the year the charity made the following transactions with Iruslees.. Mr L Lloyd £Nil {2024.' £2961 was reimbursed to Mr L Lloyd, whilst in post as a Trtjslea, during the year in respect of travel and subsistence expenses. Mr L Lloyd, whilst in post as a Trustee was also paid a total sum of £Nil 12024." £3571 for sessional work undertaken, carried out in accordance with the charity's own Memorandurn ofAssocllation. Mr L Lloyd, whilst in post as a Trustee, as an eligible beneficiary of the charity, was also in Te[pl of £Nil 12024.. £1541 in respect of grant payments in the year. Ms J B Hampton £Nil {2024'. £201 was reimbursed to Ms J B Hampton during the year in respect of travel expenses. -23-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 10 Employees The average monthly number of employees during the year was. 2025 Number 2024 Number Charitable activities 43 36 Employment costs 2025 2024 Wages and s31ari&s Social security costs other pension costs 1,204,665 127,309 54,583 942,407 81.891 41,250 1.386,557 1,065,548 There were no employees whose annual remuneiation was more Ihan £60,000. Remuneration of key managoment personnel Key management personnel in 2025 consisted of 3 members of staff 12024". 31. The remuneration of key managem@nt personnel was £146.699 (2024.. £133,387), being 8ggregate compensation for their seNices. 11 Taxation Th6 charity is exempt from taxation on its activities becaus8 all its incom8 is applied for tharilable purposes. 12 Tangible fixed assets Fixtures and fittlngs Cost At 1 January 2025 Addityons 11,105 3,514 At 31 December 2025 14,819 D&preclatlot) and Impalmient At 1 JanLJary 2025 Depreciation charged in the year 5,986 2, 170 At 31 December 2025 8,156 CaryirEg amount Al 31 December 2025 6,463 Al 31 December 2024 5,119 -24-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 13 Fixed asset inve5tment5 Listed investments Cost or valuatlon At 1 January 2025 Valuation change5 2,884 {5291 At 31 December2025 2,355 Carrylng amount Al 31 December 2025 2.355 Al 31 Deeembèr 2024 2.884 14 Debtors 2025 2024 Amounts falling due within one year.. Trade debtors Other debtors Prepayments and accrued income 174 1,433 131,642 6,142 94,207 133,249 100,349 15 CredltOTS.' amounts falllng due wlthln one year 2025 2024 Notes Olh&r taxation and social security Deferred income Trade creditors Other creditors Accruals 29,278 34,974 19,036 21,131 96,594 14,682 388 18,057 21,299 104,587 150,852 16 Deferred income 2025 2024 Other deferred income 34,974 96,594 Deferred income is included In the financial statements as follows.. -25-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 16 Deferred Income Icontinuedl 202S 2024 Deferred income Is inclutled within.. Current liabilities 34,974 96,594 Movements In the year.. Deferred income at 1 January 2025 Released from previous periods Resourees dèferred in the year 96,594 196,5941 34,974 34,741 134,7411 96.594 Oef&rr6d income al 31 December 2025 34,974 96,594 Included within deferd income 01 £34,974 is ftjnding income received in advance for ¢haritsble aclivitie5 in future periods. 17 Retiremgnt benefit schemes 2025 2024 Deflned contribution schemes Charge to profit or loss In respect of defirted contribution schemès 54,583 41,250 The charity operates a defined contribution pensiDn scheme for all qualifying employees. The assets of the scheme are held separaldy from those Df the charity in an independently administered fund. The pension cost charge fDr th6 year represents contributions payable by the charlty to the scheme and amounted lo £54,58312024 - £41.2501, Conlrlbullons totalging £Nil12024 - £3881 were payable to the scheme al the @nd of the year and are included in creditors. 18 Re$lrl¢tod funds The reslricled funds of the charity comprise the unexpended balances of donations and grants held on tru51 subject to speeific CDndiliDns by donors as to how they may be used. At 1 January 2025 Incomlng resources Resources exp8nded Transfers At31 December 2025 Big Lottery Keeping In Touch BBC Children In Need Bleu Blanc Rouge Foundation Esmee Fairbairn Foundation Cornwall Council - 16+ Carè Leaver Service CornwalS Council- Participation and Engagement Services MHCLG 12,828 98 892 46,081 47.559 36,904 75,000 70,000 149,4081 137,2421 172,2081 172,8851 10,979 240 3,686 43,196 45,706 328,516 1382,1951 17,9731 27,490 5,650 112,588 86,212 1122,1251 191,5941 17,952 268 -26-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 18 Restricted funds Icontlnuedl Cornwall Council - Multiply Cornwall Council - Household Support Grant Comwall Council - Culture Card Comwall Council - CIAG NEETS Cornwall Council - Separated Children Seeking Asylum Cornwall Council- Tenancy Support Grant Cornwall Council- 8enan Chy- Housing Cornwall Council - EHCP Skills FLrture Learning Partnership - Skills Your Way Segelman Trusl Cemwall Council - Broadening Horizons Duke of Cornwall - Benevolent Fund Cornwall Council - Pre lensncy Award Cornwall CommLJnily Foundalion - Peopl8 In Mind Family Finding Befriending and Mentoring Cornwall Council Youth Engagement Project EKB Fund - Health & Wellbeing Awards 4 All Cornwall Community Foundation- Welcome Fund NHS Universal Family Project Cofftwall CoFnmunity Foundab'on- CCLA Careleaver Fund Comwall Council- SPF People Hub staff gift contribution Comwall Community Foundation - Housing Action Fur¢d Penlee House Gallery and Museum Bolingey Barbarians TSJRTrusl 17,452 117,4561 7.495 19,000 4,000 126,5001 14,0031 24,974 124,9741 99,373 198,8261 547 52,681 152,8751 194 114,936 1114,5031 433 9,333 18,4001 933 207 7,590 12091 147,3291 40,000 261 773 3,76D 14,5231 19,512 119,5121 375 13751 12,500 {12,5001 110.789 1111,0141 225 51,671 20,000 151,4701 120,0001 112,5441 201 14.752 2,208 774 6.345 17791 114,9521 8,600 41,427 70,000 173,8681 37,559 3,494 85 90,836 225 190,809 12271 3,52t 83 5,ODO 5,000 7,500 2,000 35,000 17,5001 12,0001 {19,4501 15,550 241,578 1,556,399 11,864,2531 681 134,405 27-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 18 Restricted funds Icontinued) Prevlous year.. At 1 January 2024 Incomlng rè$ourees Resources expended Transfers At31 December 2024 8ig Lottery Keeping In Touch 8BC Children In Need Bleu Blaric Rouge Foundation Esmeé Fairbaim Foundation Comwall Council- 16+ Care Leaver Service Comwall Council- Participation and Engagement Services Comwall Council- Other Listenlng Fund (Blagrave TrL¢sII CHK Foundation L8aming Partnershp - Skills Your Way Segelman Trust Cornwall Council - Broallening Horizons Duke of Comwall - Bènevolent Fund Cornwall Council - Pre tenancy Award Cornwall Council - Community Levelling Up Cornwall Communty Foundation - People in Mind OWPACsS lo Work DofE Family Finding Befriending and Menloring Careers South West- Youth Engagement Project EKB Fund . Health & Wellbeing Awards 4 All Comwall Community Foundation - Welcome Fund NHS Universal Family Project Cornwall Voluntry Sector Forum Comwall Goun¢il - SPF Better Homes for Careleavers Cornwall Community Foundation - CCLA Careleaver Fund Cornwall Council . SPF People Hub Staff gift contributions 11,334 1,836 1,321 37,496 49,907 34,390 75,000 50,000 (48,3281 136,1281 (75,4291 (41,4151 12,913 98 892 46,081 {15,8081 334,112 {272,5981 45,706 15,472 62,249 6,252 22,868 112,591 270,822 {100,5731 (322,0041 16,2521 {22,8681 27,49LI 13,149 2.082 5,447 15,2401 (22,4101 207 7,590 30,000 1,228 25,000 {25,4551 773 51,440 {31,9281 19,512 6,981 18,6061 375 37,500 137,5001 12,500 3.330 112,5001 (3,3301 121.623 1121,6231 72,781 20,000 20,000 172,8101 120,0001 (5,2481 14,752 5,000 28,300 1,150 (4,2261 121,9551 (1,1501 774 6,345 18.000 118,0001 70,000 128,5731 41,427 22,876 500 121.1491 15851 1,767 3,494 85 85 208,201 1,415,382 (1,385,883) 3,878 241,578 -28-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 18 Restricted funds (Continued) The specific purposes for which the fvnds are lo be applied are as follows". Unrestricted funds.. These are funds Ihal can be spent freely. The purposes of the designated reserves, as sel by the Trustees, is as follows". The Closure costs fund is lo be ulilised should the charity cease to operate lo ensure that all closure costs can be funded. Restncted funds". Big Lottery Keeping In Touch Group work, SOGial ernolional 5UPPOrt, resilience building positive activities lo young people aged over 16 who are care experienced. BBC Chlldren In Need Peer mentor development. Bleu Blanc Rouge Foundation Core funding lo enable us to help care experienced yOLFng people have better lives. Esmeé Fairbairn Foundation CO funding lo promote better emotional and mental health, improve local services and influence national services for young people in and leaving care. Cornw811 Councll - 16+ Care Leaver SeNice For provision of a Personal Advisor service for young people leaving care. Cornwall Cc)uncil- Participation and Engagement Services Enabling young people in and leawng care lo associate with their peers and infliJer)ce the seNices they receive. Cornwall Community Foundation CCLA fund to improve outcomes for care leavers ages 18 and above including with Housing and emotional well being. Pèople in Mind- enabling care experienced young people lo build social connedion lo improve emotional well being. Welcome Fund- lo support work with young people who are Separated Children Seeking Asylum_ Comwall Council Youth Engagement Project Iyepll promoting better education and employment engagement_ Departrnenl of Education Family Finding, Befriending and Mentoring fund enabling in depth support lo young people ID enable them lo engage with positive aclivilie5. Segelrnan Trust Core funding lo enable u5 to help care experienced young people have better lives. TSJRTrusl Funding towards the costs ol Carefree Cornwall's earfy intervenlien programmes for Care experienc&1 childrentyoung people aged 11-17. 29-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Unrestricted funds The unreslricle4 funds of the Charity Gomprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. Thes& include designated funds which h?ve been set aside out of unreslricled ndS by the trustees for specific purposes. At 1 January 2026 Incoming resources Resources expended Transfers Galns and losses At31 December 2025 Closurè costs General funds 2L19,073 104,227 117,7841 17,103 191,289 119,941 51,714 152,5741 15291 313,300 51,714 152,5741 16811 15291 311,230 Prevlous year: At 1 January 2024 In¢omlng resources Resources expended Transfers Galns and losses At31 D&cgmber 2024 Clos¥Jre costs General funds 162,843 115,158 48,230 150,1081 209.073 104,227 74,955 136,1871 409 278,001 74,955 136.1871 13,8781 409 313.300 20 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 Dec¢mb&r 2025: Tangible assets Investments Cuirenl assetsllliabilitse51 6,463 6,463 2,355 436,817 2,355 308,875 127,942 311,230 134,405 445,635 Unrestrlctéd funds 2024 Restrlcted funds 2024 Total 2024 At 31 December2024'. Tangible assets Investments Current asselsllliabilibesl 5,119 5,119 2,884 546,875 2,884 310,416 236,459 313,300 241,578 554,878 30-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 21 Operating lease commltments Loss90 At the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating18ases. which fall due as follows. 2025 2024 Within one year Between two and five yeafs 614 2,414 511 614 2,925 22 Contlng6nt as$•ts The BBC Children In Need grant is a mulli-year grant that provides for the expenditure of the grant to be for lulure peTiods. The income in respect of future periods has therefore not been included in the current year accounts. The 9rsnt is a 3-year grant lo Augu512026 to receive the following per year- £35,950, £36.662, £37,388. The Big Lottery Keeping In Touch grant is a mulli-year grant that provides expenditure ol the grant lo be for future periods. The income in respect of future periods has therefore not been included in the current year accounts. The grant is a 5-year grant lo September 2026 to receive la total of £209,463 over the length of the agreement. The Esmeé F8irbairn grant is a mulli-year grant that provides for the expenditure of the grant to be for future periods. The income In respect of future periods has therefore not been included in the current year accounts. The grant is 8 3-year grant lo September 2028 to recelve £70,000 per year. The Separated Children Seeking Asylum contract is covered by a multi-year award that provides axpenditure of the grant to be for future periods. The in¢ome in respect of lulure periods has therefore not been included in the current year accounls. The contract is a yeaf-on-year award lo receive around £100,006 per year. The PA & Homelessness project Is covered by a multi-year grant that provides expenditu ol the grant lo be for future periods. Th& Income in respect of future periods has therefore not beeTr included in the current year aGcounts. The contract is a year-on-yeai award to receive around £86,212 per year. The 16+ Leaving Care Services project is covered by a multi-year grant that provides expenditure of the grant to be for future periods. The income in respect of future periods has therefore not been included in the current year accounts. The grant is a 5-year grant lo June 2026 to receive £285,668 per year, subject lo uplifts. 31
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 22 Contlngent assets Icontlnuedl Th& Engagement & Participation SeNice project is covered by a multi-year grant that provides endItuTe of the grant to be for future periods. The income in respect of future periods has therefore not been included in the current year accounts. The grant is a 5-year grant to June 2026 to receive £112,588 per year. The Family finding, BefrienLling and Mentoring Programme is covered by a multi-year grant that provides expenditure of the grant to be for future periods. The income in respect of future peTiods has Iherelore not been included in the current year accounts. This is a grant lo March 2026 ID receive a total of £119,477 over the length of the agreement. Th@ Cornwall Council Youth Engagement Proje¢l is covered by a multi-year grant that provides èxpenditure of the grant lo be for future periods, The income In respect of luture petiods has therefore not been included in the current year accounts. Th& grant is 3 grant lo March 2026 to receive a lolal of £42,223 over the length of the agreement. The Comwall and the18les of Scilly People Hub is covered by a granl that provides expenditure ofthe grant to be for future periods. The income in respect of future periods has therefore no been included in the ¢urrenl year acetrunls. The granl is lo March 2026 ID receive a total of £84,634 over the lenglh of the agreement. The CCF - Housing Acfion Fund is covered by a granl that provides expenditure of the grant to be for future perio(Js. The income in respect of luture periods has therefore no been included in the current year accounts. Th8 grant is lo December 2026 to recoive 3 lolal of £5,000 over the length of the agreement. The CCF - Wellbeing for Care Experiencecl Young People is covered by a grant that provides expenditure of the grant to be for future periods. The income in respect of future periods has therefore no been included in the CLsrrenl year accounts. The grant is for 2028 lo receive a total of £7,190 over the length of the ayreemenl. The Comwall Council - EHCP Skills Futur8 IS COV@red by a granl that provides expenditure of the grant lo b8 for future periods. The income in respect of future periods has therefore no been included in the current year accounts. The grant is to July 2D26 to receive a total of £28,000 over the length of the agre2menl. The TSJRTrust Is covered by a mulli-yesr grant that provides expenditure of thè gienl to be for future periods. The income in respect of future periods has therefore no been included in the current year accounts. The grant Is lo DeGember 2027 to receive a lotal 01 £137,378 over the length ol the agreement.
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 22 Contingent assets Icontlnuedl The Segelman Trust is Covered by a mulli-year grant that provides expenditure of the grant lo be for future periods. The income in respect of future periods has therefore no been included in the current year accounts. The grant is a 4-year grant to January 2029 to receive £40,000 per year. The Bleu BlarK Rouge Foundation is covered by a mulli-year grant that provides expenditure ol the grant tg be for future periods. The income in respect of futufe periods h8S therefore no been included in the current year accounts. The grant is a 3-year grant to December 2028 to receive £75,000 per year. The CCF Care Leaver Fund is ¢overed by a mulli-year grant that provides expenditure of the grant to be for luture periods. The income in respect of future periods has therefore no been included in the cuThent yoar accounts. The grant is a 3-year grant lo June 2027 to receive £70,000 per year. At the year-end, the charity had been nottfied that il would be recipient to a donation based on the sale of a property. Thls has nol been Included in the Slalemenl of Financlal Activities because the conditions for recognrhon have not been mel as at the year-end. 23 Related party transactions Transactions lolalling £16812024.. £671 relating to casual employment of a close family member of one of the key management personnel look place during the year. There were £nil amounts outstsnding as at 31 D&cember 2025 12024.. £nil}. The individual's details have been omitted for the protection of the persons Concemed in accordance wlh paragraph 1.29 of the SORP. The aggregate amount of donations received wilhoul conditions from the trustees was £6012024.. £1001. The charity is Controlled by the trustees who are all directors of the Company_ 33-
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 24 Cash {ab50rbed byllgenerated from operatlons 2025 2024 IDefi¢itllsurplus lor the year {109,2431 68,676 Adjustments for- Investment income recognised in slalemenl of financial activities Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets 18.6741 529 2,170 18,4341 14091 1,464 Movemonts In worklng capltal: Ilncreaselldecrease in debtors Increaselldecreasel in creditors (Decreasellincrease in deferd income {32.9001 15,355 {61,6201 63,242 16,2561 61,853 Cash (absorbed byllgengrat8d from op8ratlon$ 1194,3831 180,136 All of the cash flDWS are derived from Continuing operations during the above two periods.
CAREFREE CORNWALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 25 Analysis of changes in net funds The ¢harily had no material debt during the year 35-