2025-03-31-accounts

Company number: 06329047 Charity number: 1125312 Calico Enterprise Limited Report and Financial Statements st Year ended 31 March 2025

Calico Enterprise Limited Company number: 06329047

Contents

Directors, Executive Officers, Advisors and Bankers ....................................................................... 1 Report of the Directors............................................................................................................... 2 Independent Auditor’s Report to the members of Calico Enterprise Limited ....................................... 9 Statement of Financial Activities ................................................................................................ 11 Statement of Financial Position ................................................................................................. 12 Notes to the Financial Statements ............................................................................................. 13

Calico Enterprise Limited Company number: 06329047

Directors, Executive Officers, Advisors and Bankers

Directors	Richard Jones CBE (Chair)
	Cheryl Mould
	George Kimmance
	Joanne Peters
	Kelly Shaw (Resigned 25 November 2024)
	Michael John Wedgeworth
	Mushtaq Khan
	Rachael Kaminski (Appointed 25 November 2024)
	Sallie Bridgen
Company Secretary	Anthony Duerden
Executive Officers
Group Chief Executive	Anthony Duerden
Deputy Chief Executive	Helen Thompson
Executive Director of Group Finance	Chloe Christian
Executive Director of
Organisational Development	Vicki Howard
Syncora Officers
Managing Director	Sarah Swanson
Registered Office	Centenary Court
	Croft Street
	Burnley
	BB11 2ED
Registered Number	06329047
Charity Number	1125312
External Auditor	Crowe U.K. LLP
	3rdfloor, 56 Peter Street
	Manchester
	M2 3NQ
Solicitor	Forbes Solicitors
	Rutherford House
	4 Wellington Street
	St. Johns
	Blackburn
	BB1 8DD
Bankers	National Westminster Bank
	6th Floor, 1 Spinningfields Square
	Manchester
	M3 3AP

Calico Enterprise Limited Company number: 06329047

Report of the Directors

The Directors are pleased to present their report along with the financial statements for the year ended 31 March 2025, which are also prepared to meet the requirements for a Directors’ report and accounts for Companies Act purposes.

The Directors are also the company trustees for charity purposes.

Structure, Governance and Management

Calico Enterprise Limited was registered with the Charity Commission in England and Wales on 1 August 2008 (Charity No. 1125312) and is a private company limited by guarantee.

Group Structure

Syncora Limited (registered number 11171831) was established in 2018 as a holding company with a common board for each of its subsidiaries which are SafeNet Domestic Abuse and Support Services Ltd (“SafeNet”), Acorn Recovery Projects (“Acorn”) and Calico Enterprise Limited (“Enterprise”). Syncora sits between the legal entities and the Calico Group (“Calico”) Board. This arrangement was made to enhance continued growth by integrating service and company offers and allowing competition with larger scale ‘lead’ providers. The Calico Group is the ultimate parent of the Syncora Group of Companies.

Public Benefit

The Directors have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning the company’s future activities. In particular, the Directors consider how planned activities will contribute to the aims and objectives that have been set.

Calico Enterprise undertakes and manages its activities in line with the above objectives through the provision of support contracts and work initiatives. The Directors receive regular updates on performance and feel that the objectives have been achieved as set out in the next section.

Objectives and Activities

Calico Enterprise was incorporated as a not-for-profit charitable company limited by guarantee, Calico Enterprise Limited was established on 31 July 2007 with the following objectives:

1. To relieve the charitable need of people with disabilities, ill health or in necessitous circumstances by the provision of accommodations and or support services to enable them to live in the community.

2. The advancement of education, training and the relief of people who are unemployed, low paid, low skilled or have no skills.

Fundraising Practices

The company had no fundraising activities requiring disclosure under s162A of the Charities Act 2011.

Achievements and Performance

The purpose of Enterprise is to create brighter futures for people, places, and local communities. The company creates opportunities to help people make the positive changes they seek, contributing to the Calico Groups purpose of providing quality services that make a real difference to peoples’ lives. This is achieved through the delivery of social enterprise, skills, and support contracts. Its achievements are summarised in the sections below.

Social Enterprise

The company delivers a number of social enterprises which are work streams that operate as businesses, whilst still targeting the delivery of social impact.

Furniture Matters

The service provides reuse, recycling and training social enterprise activities. Based in Morecambe and Blackpool, Furniture Matters extensively refurbish unwanted white goods, furniture, and other household goods and sell these at a low cost to local people in need. During the year, the work stream has collected 1,692 tonnes of furniture and white goods and have recycled or reused 58%, diverting these items from landfill. Furniture Matters have also provided quality items for 861 families with low incomes. Furniture Matters also provides a range of volunteering and training opportunities for people in the local area who are out of work, want to develop new skills, or want to gain vital work experience. During the year, 13 volunteers were supported across various sites, progressing two into employment within the work stream.

Skills Contracts

Constructing the Future (“CtF”)

CtF is a shared apprenticeship initiative and successfully creates full time apprenticeships through linking together employment on short term development contracts and now operates across the whole of the Northwest. CtF transferred into Calico Enterprise in 2014 having previously been an external business operation. Calico Enterprise now employs between 17-24 apprentices directly and costs are reimbursed by the customer. The programme is supported by CITB Construction Skills, the construction industry’s training and skills development body. During the year, 7 apprentices have qualified as tradespersons. The success rate for individuals moving into long term employment, is consistently over 80%, with 85% of those who completed their apprenticeship in 2024/25 moving into employment. The service remains a Flexi-Job Apprenticeship provider via the Department for Education.

Calico Enterprise Limited Company number: 06329047

Report of the Directors (continued)

Achievements and Performance (continued)

Building Foundations

This service was established in December 2021 and is a contract with Preston City Council that supports them with the delivery and monitoring of employment and skills outcomes through the planning process. To date we have ensured that all Employment and Skills Plans submitted to the local authority are relevant and proportionate to the size and scale of the development. 19 Employment and Skills Plans have been developed for applicants who did not have one in place and four sites are being monitored to ensure that they are compliant in this area. 18 local jobs have been created, 14 individuals have gained work experience, and 50 individuals have been upskilled as a result of the programme in 2024/25.

Afta Thought

The service provides training services using acting and drama to bring to life challenging subject matters. The work stream has delivered practice changing training services to individuals that work in local authorities, healthcare services, housing associations and other charitable bodies as well as a number of private sector businesses. Afta Thought employs a small core team of professionals and utilises a network of associate actors. This year they have trained over 6,700 delegates.

Badkamra

Badkamra, founded by Acorn Recovery Projects over 15 years ago, co-creates video and photographic content centred on lived experience. Their work spans educational content, action research, documentaries, and therapeutic workshops—building confidence through creativity. Recent projects include work with North West Probation Service on Community Sentence Treatment Requirements (CSTRs), sharing real experiences. The project won a NW Probation Star Award for Research and Innovation. Unseen Voices I, with Greater Manchester Combined Authority, brought together voices from 10 boroughs to explore multiple disadvantages. The resulting exhibition at HOME, Manchester, received the Expert Citizen National Insight Award. A follow-up, Unseen Voices II, is in postproduction.

Acorn Academy

Acorn Academy is a socially conscious training provider specialising in “learning for life”. Run by qualified professionals with diverse lived experience, the Academy has delivered training to over 5,000 learners over the past decade—focusing on those often considered 'harder to reach'. Programmes include Combination Learning (counselling and facilitation skills), Keeping The Key (communication and tenancy skills), and Peer Mentoring. In 2024/25, the Academy partnered with Hopwood Hall College, Stockport Continuing Education, and the Workers’ Educational Association in Bury to deliver training to 209 learners, with 79% of the latest cohort progressing into further education, employment, or volunteering.

Careers service

The service delivers pre-employment careers support and guidance to individuals moving closer to the workplace, or opportunities for employment. During the year, one-to-one support sessions have been delivered to 428 individuals. Programmes help people to improve self-esteem and build confidence and motivation. Key partners include; Department of Work and Pensions, Office for Health Improvement Disparities (OHID), Youth Futures Foundation and UK Shared Prosperity Fund. In 2022 Calico Enterprise became the lead partner on the Burnley Connected Futures Programme which saw over 700 young people and 100 employers engaged in understanding the root causes of youth unemployment and their barriers to getting into work. We have been successful in securing additional funding to test some of the identified solutions in Burnley. OHID have funded Enterprise to deliver the Individual Placement Support (IPS) service, supporting those in active drug and alcohol treatment to get into or retain employment.

Project SEARCH

This programme is a supported internship for young people aged 18-24 years with a learning disability and/or autism. It is a collaboration between Calico Enterprise, Burnley College, Lancashire County Council and DFN Project SEARCH. 7 interns started in September 2024 and the project focuses on teaching transferrable skills to enable them to be work ready by the end of the academic year in June 2025. 100% of the interns that completed in June 2024 have secured employment and apprenticeships at the end of the programme.

Calico Enterprise Limited Company number: 06329047

Report of the Directors (continued)

Achievements and Performance (continued)

Calico Gateway – Opening Doors, Changing Lives

Calico Enterprise also provides services that offer help for people who are homeless or at risk of losing their home. By understanding their needs and goals, we focus on developing practical solutions to help people achieve sustainable, long-term change. Gateway services are delivered across Lancashire and Greater Manchester, with our customer reach widening each year.

Our vision for these services is ‘ Inclusive and personalised services - we challenge stereotypes, believe in people, and with determination and collaboration we provide opportunities to realise aspirations!’

During the last year over 2,700 people have been supported by Gateway services, with 98% of customers rating us as good and above. In addition, over 2,000 people have been supported through drop-in's for targeted short term assistance. One of the aspirations is that all colleagues have an awareness of trauma informed practice with 97% of employees undertaking training this year. Successful completions across all services increased to 75% throughout the year and the teams received 250 compliments from a range of customers, partner agencies and commissioners. Nearly 150 individuals and 20 families were supported during this period through our supported accommodation.

Services

Supported Accommodation

• Gateway – Burnley

• Bury – Dispersed Accommodation

• Family provision – East Lancashire

• Jubilee Court – Lancaster

• Step down accommodation - Burnley

Calico Gateway currently provides 88 units of supported accommodation to individuals or families experiencing homelessness. Referrals are made via the local housing needs teams dependent on the scheme’s location and eligibility criteria. Occupancy levels remained consistently high during 24/25 (97%) demonstrating the demand for these services.

Community Support Services

• Bury Floating Support

• GM Pathfinder (Young People)

• Accommodation Finding Services – Chorley and Lancaster

• Intensive Floating Support

• Rough Sleeper Navigator

• East Lancashire Accommodation For Ex Offenders (AFO)

• Rough Sleeper Initiative (RSI)

Gateway community services provide a range of services that cover homelessness prevention, tenancy sustainment through to those who are street homeless and require support to source appropriate accommodation, these teams focus on removing barriers and upskilling individuals to enable them to live a healthy life independently. Customers determine their own goals and aspirations to create a holistic support plan, whilst support workers provide the housing related support knowledge and expertise. This enables outcomes to be achieved such as securing new accommodation, reducing debt, maximising income, engaging in work, training or education, improving health outcomes and creating new social relationships or re-establishing family networks.

Resettlement

• UK Resettlement Scheme – Burnley/Preston/East Lancashire/Hyndburn, South Ribble, and West Lancs

• Homes for Ukraine Welfare Checks

• Refugee Digital Inclusion Scheme

• Serviced Family Accommodation – Preston

• Migrant Help

The service provides resettlement for refugees across a number of districts within Lancashire and provides the support required to enable the families to re-settle in the United Kingdom. The service supports the families to integrate into their local communities and assists with housing and benefit advice, accessing health services, enrolling in education, and training opportunities and employability. The programme also supports families to engage with specialist legal services. Gateway is working with 567 individuals and many more that are in year 3,4 or 5 of their support with us via drop ins throughout Lancashire. Calico delivers support via a range of schemes including the UK Resettlement Scheme (UKRS) and the Afghan Relocations and Assistance Policy (ARAP) and has supported Lancashire County Council (LCC) to welcome families from Chagos.

Calico Enterprise Limited Company number: 06329047

Report of the Directors (continued)

The Board

The Board of Syncora Limited and the Boards of each of its subsidiaries operate as a common board (“the Board”). The Board members acknowledge that, notwithstanding the operation of a common board, each company is a legal entity in its own right. When taking decisions, the Board members are under a duty to act in the best interests of each separate legal entity. In the event that circumstances arise in which Board members are unable independently to fulfil their duties to each company, a written procedure is adopted. The rules of each company provide guidance on dealing with any conflicts.

The Directors of Calico Enterprise Limited are listed on page 1. The Directors possess the skills and experience necessary to fulfil their responsibilities to the Company.

The Board comprises eight (2024: nine) Non-Executive Directors who are responsible for setting the vision and strategic objectives of the business and overseeing their delivery. The Non-Executive Directors are Trustees for charity purposes. The Non-Executive Directors who served during the year and up to the date of the signing of these financial statements are listed on page 1. During this period, there has been one new appointment to the Board and one retirement. The Board met four times throughout the year and all meetings were quorate.

The Board delegates the day-to-day management and implementation of the strategic objectives to the Group Chief Executive, Executive Directors and Syncora Managing Director. The Executive Team meet weekly and attend Board meetings.

Non-Executive Directors are recruited on a skills-based approach to ensure that they have the appropriate range of skills, experience and attributes required to provide strategic direction and monitor the companies’ performance. The Board conduct an annual review of the overall effectiveness of the Board and of the skills required by the Board, which informs future recruitment. The Board and its committees obtain external specialist advice from time to time as necessary.

In 2020, Calico Group launched a New Generation Board Diversity Programme in partnership with the Housing Diversity Network with the intention of broadening diversity within the Board, in particular increasing participation from younger people and people from minority ethnic backgrounds. The New Generation programme supports participants for two years with the aim that at the end of the programme participants will be ready to become Board members. The second New Generation Board member programme launched in September 2024, with four New Generation Board members of which there are two in Syncora.

Board members normally serve for up to six years, with a maximum term of nine years, including time served on other Group Boards. Reappointment is reviewed annually at each Annual General Meeting, considering the skills and experience required by the Board There are two Board members – Richard Jones (Chair) and Mushtaq Khan who were extended in 204/25 for a further year. The Chair recruitment will take place in 25/26.

Alongside the annual review of the overall Board effectiveness, each individual board member also has an annual development review to evaluate their contribution to the Board and identify training needs. These reviews inform a Board development programme that focuses on Board performance and ensuring the Board’s future effectiveness, together with tailored events on specific businessrelated topics where a training need has been identified.

Syncora and its subsidiaries have insurance policies that indemnify its Board members and Executive Officers against liability when acting for Syncora.

New Board members receive induction training on their legal obligations under charity and company law; the governance framework of the company; the vision and strategic objectives of the Board; and the services provided.

To operate effectively, and to ensure appropriate governance in business-critical areas, the Board has delegated some responsibilities to two Group Committees:

Audit & Assurance Committee

The Group Audit & Assurance Committee is responsible for reviewing the Calico Group’s risk management framework and reports to the Syncora Board on the effectiveness of the Company’s internal control arrangements. The Committee approves the scope of work of both internal and external auditors, including their appointments. It also considers the financial statements and recommends their approval to the Board. The Committee met five times during the year.

Nominations and Remuneration Committee

The Group Nominations & Remuneration Committee advises the Board on Non-Executive Director recruitment and remuneration, and the appointment and remuneration of the Group Chief Executive and Executive Directors, taking independent advice as necessary. The Committee also sets the objectives for the Group Chief Executive and reviews performance against those objectives. The Committee met three times during the year.

Employees

Calico Enterprise are able to attract a wide range of staff from different backgrounds. The diversity of employees is 44% (2024: 43%) male, 56% (2024: 57%) female, 5.5% (2024: 8.2%) who self-identify as disabled, 9.1% (2024: 14%) from a BAME background, and 3.6% (2024: 5%) LGBTQ+.

Calico Enterprise Limited Company number: 06329047

Report of the Directors (continued)

Pensions

Executive Directors and senior leadership are eligible to join the Social Housing Pension Scheme. The Executive Officers participate in the scheme on the same terms as all other eligible staff. Full details of the scheme are given in note 8 to the financial statements.

Social Housing Pension Scheme (“SHPS”)

The Group operates defined contribution plans for the benefit of its employees. The cost of providing retirement pensions and related benefits is charged to management expenses over the periods benefiting from the employees’ services.

The Group also participates in a defined benefit multi-employer pension scheme, Social Housing Pension Scheme, administered by TPT Retirement Solutions. Further details of the assumptions and the defined benefit pension plan is in note 1 & 8.

Reserves Policy

The Syncora Reserves Policy states that we will aim to keep unrestricted reserves to cover a minimum of two months of variable expenditure to provide where costs are not contract related and also include a provision for contractual costs. The current level of free reserves is £1,276k (2024: £918k). This is a calculation of the unrestricted funds less the tangible & intangible fixed assets. There are not any designated reserves for essential future spending.

The Board have agreed a target of £571k for 25/26 and the level of reserves is due to be reviewed annually (2026). The Directors will monitor and review the level of reserves annually, in line with guidance issued by the Charity Commission. Therefore, Calico Enterprise does not need to retain large reserves and the current level of unrestricted reserves is sufficient. However, Calico Enterprise is currently holding more than target reserves which have been built up in recognition of the diverse service delivery within Enterprise, the reserves will support future investment in accommodation to grow and expand the service and support the delivery of new services being delivered. This will be over and above those reserves represented by fixed assets within the charity’s balance sheet.

Principal Risks and Uncertainties

The Calico Group has a Risk Management Framework which is aligned to business activities and supports the achievement of corporate objectives. This framework was refreshed in May 2024. The Syncora Board has overall responsibility for risk management within the Syncora Group of companies. Risks are considered at all levels across the business and all decisions taken by the Board or Committees consider relevant risks.

As part of the Calico Group approach to risk management, Syncora’s Board have a risk map in place which incorporates risks for each entity within Syncora. The Directors have undertaken a full refresh and review of the major strategic risks faced by the charity and have put in place systems to mitigate their exposure to the major risks. The risk map is reviewed by the Syncora Board on a quarterly basis.

Regular reporting on control issues provides assurance to successive levels of management and to the Board. It is supplemented by regular reviews by internal audit that provide independent assurance to the Board. The arrangement for review includes a rigorous procedure which is monitored internally and ensures corrective action is taken in relation to any significant control issues. The business has implemented a programme of control and risk self-assessment and is further embedding this at different levels of the organisation, which will continue to strengthen each business areas’ control arrangements.

Utilising this approach Calico Enterprise has identified the following risks to the successful achievement of its objectives:

• Health and Safety

• Regulatory and legislative compliance

• Workforce skills, experience that meet the needs of customers

• Socio-economic conditions

• Financial Capacity and Sustainability of services

• Growth Capacity

Plans for Future Periods

Calico Enterprise will continue to provide services that have a positive impact on customer lives. We strive to become customer-led in both the creation and delivery of services. We understand that meaningful change comes from creating the right conditions and opportunities for people’s health and wellbeing to thrive. As we continue to evolve and realise our growth plans, we will focus on existing and new business areas as detailed below.

Calico Enterprise Limited Company number: 06329047

Report of the Directors (continued)

Social enterprise and skills contracts

• To be an innovative and responsible business that is accountable for its own financial, environmental and social sustainability whilst still delivering results and doing the right things. We will retain our contracts where they are being recommissioned and ensure that social impact is measured across all contracts.

• To positively progress customers and create sustainable change, placing them at the forefront of service design and delivery, and enable the Calico Group to demonstrate social impact through the delivery of innovative services built on the principle of social enterprise, skills and employability, training and personal development. We will continue to liaise with our Youth Leadership Group and hear from a broad range of customers across our services in co-design and development of the services.

• We will collate customer feedback and ensure that services continue to improve as a result of that feedback. We will continue to provide placement opportunities and employment opportunities specifically for the customers that we work with.

• To work with the Calico Group and our partners, to build our reputation and maximise our customer impact through a growth plan focused on the things that we are good at, delivered in the areas we know that we can make most difference. We will continue to seek new business across all of our services, focusing on the Syncora Growth Strategy priority areas.

• To grow our skills & employability services with a focus on economically inactive, young people and those with complex needs. We will contribute to Get Lancashire Working consultations and seek opportunities to work in partnership with organisations with the similar vision and values. To expand our social enterprise offer focusing on property and environmental services. We will seek to secure phase 2 funding of the Youth Futures Foundation Connected Futures project, in order to support young, marginalised people into employment.

• Continue to nurture and seek new partnerships across the Northwest of England that facilitate expansion of the Enterprise service offer, helping manage some of the risks associated with current service delivery. We will focus on partnerships with local authorities, prime employment and skills delivery partners, National Careers Service and the VCSFE (voluntary and community) sector.

Support Contracts

• To ensure all new contracts are implemented and embedded with a focus on quality in line with the Calico Group’s values.

• To establish and further develop the model and offer around Homelessness, further building partnerships to maximise growth opportunities.

• Contribute to the Syncora Growth strategy and increasing the number of supported accommodation units that provide individuals with a safe place to live.

• To work pro-actively with the Business Development and Strategic Growth team to fully understand the opportunities and direction of travel for Enterprise support services, therefore maximising opportunities.

• To continue to develop and nurture links and partnerships with the Health Sector, identifying opportunities to redesign, adjust or provide new services which support the wider external and internal Health agenda.

• To continue to review and evaluate established contracts for viability and growth/expansion opportunities.

• To review and adapt reporting mechanisms to further enable demonstration of the impact of services telling the story of the difference Enterprise have made.

• To retain the Resettlement Contracts and demonstrate the positive impact that these services have on reducing homelessness and supporting integration.

Care

• To establish a care personal care business initially for residents at Dovestone Gardens, a 93-unit extra care facility in Burnley completed in April 2025 by Calico Homes. Calico Enterprise is complementing the housing offer with the establishment of Syncora Care which will provide care services to the residents.

Charity Code of Governance

The Board has adopted the 2020 Charity Governance Code for Larger Charities. The Board confirms compliance with the Code for the year ended 31 March 2025.

To enable continuous improvement, the Board has identified some enhancement actions which will further support compliance with the Charity Code of Governance.

Going Concern

The Board have reviewed Enterprises activities, financial position and future trading activities alongside the current risks and any other key factors will affect the future financial position. This includes the impact of economic uncertainty and service delivery. The Board have concluded that through the ongoing monitoring of financial performance and risk management that it is reasonable to expect that the organisation and subsidiaries have adequate resources to continue in operational existence for the foreseeable future. Accordingly, it continues to adopt the going concern basis in preparing the financial statements.

Calico Enterprise Limited Company number: 06329047

Statement of Directors' Responsibilities in respect of the Annual Report & Financial

Statements

The Directors (who are also the trustees of Calico Enterprise Limited for charity law purposes) are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure of information to auditors

The Board, who were in office on the date of approval of these financial statements, have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the Board members have confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.

Auditor

Crowe U.K. LLP were appointed as auditors in November 2021, following a tender process, for a period of 3 years with an option for a further 2 years.

Approved by the Directors and signed on their behalf by:

Anthony Duerden Company Secretary 22[nd] September 2025 For the year ended 31 March 2025

Calico Enterprise Limited Company number: 06329047

Independent Auditor’s Report to the members of Calico Enterprise Limited

Opinion

We have audited the financial statements of Calico Enterprise Limited for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

• adequate accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees’ report.

Calico Enterprise Limited Company number: 06329047

Independent Auditor’s Report to the members of Calico Enterprise Limited (continued)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act 2011 and employment tax legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and completeness and cutoff of grant and contract income. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals and reviewing accounting estimates for biases. Our audit approach for income was to begin our testing from source documentation such as grant and contract agreements.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Vicky Szulist Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Manchester

26th September 2025

Calico Enterprise Limited Company number: 06329047

Statement of Financial Activities

For the year ended 31 March 2025

		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Funds
	Note	2025	2025	2025	2024
		£’000		£’000	£’000
Income
Income from Charitable activities	3	7,531	118	7,649	7,632
Total Income		7,531		7,649	7,632
Expenditure
Expenditure on Charitable activities	4	7,237	118	7,355	7,398
Total Expenditure		7,237	118	7,355	7,398
Net Income for the year		294	-	294	234
Actuarial (Loss)/Gain	8	37	-	37	(61)
Net movement in funds		331	-	331	173
Reconciliation of Funds
Funds brought forward 31 March 2024		1,150	-	1,150	978
Funds carried forward 31 March 2025		1,481	-	1,481	1,150

All the activities in the financial year are derived from continuing operations.

The Statement of Financial Activities includes all gains and losses in the year. The notes on pages 13 to 24 form part of the accounts.

Calico Enterprise Limited Company number: 06329047

Statement of Financial Position

At 31 March 2025

	Note	2025	2024
		£’000	£’000
Fixed assets
Tangible fixed assets	11	198	234
Intangible fixed assets	12	7	-
Total Fixed Assets		205	234
Current assets
Stock		62	49
Debtors	13	970	1,407
Cash and cash equivalents		1,019	405
		2,051	1,861
Creditors:amounts falling due within one year	14	(630)	(714)
Net current assets		1,421	1,147
Total assets less current liabilities		1,626	1,381
Provision for liabilities:Pension provision	8	(145)	(229)
Net assets		1,481	1,152
Unrestricted funds
General unrestricted funds brought forward		1,150	978
Surplus in Year		331	173
Total unrestricted funds	16	1,481	1,150

The notes on pages 13 to 24 form part of these financial statements.

The financial statements were approved by the Directors and authorised for issue on 22 September 2025.

Signed on their behalf by

Anthony Duerden Company Secretary 22nd September 2025 For the year ended 31 March 2025

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements

1. Legal Status

Calico Enterprise Limited is registered with the Charities Commission in England and Wales and is a private company limited by guarantee. The company’s principal activity is the delivery of a range of care and worklessness related services. The registered office is Centenary Court, Croft Street, Burnley, Lancashire, BB11 2ED.

2. Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (“FRS 102”) issued by the Financial Reporting Council.

The financial statements are presented in pounds sterling £’000 because that is the functional currency of Calico Enterprise.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

FRS102 Disclosure exemptions

Calico Enterprise meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements, which are presented alongside the consolidated financial statements. Exemptions have been taken in respect to financial instruments and presentation of a cash flow statement.

Going concern

The Board is confident that Calico Enterprise Limited (“Enterprise”) remains a Going concern for the following reasons:

• At 31 March 2025, following a surplus of £331k (2024: £173k) Enterprise had net assets of £1,481k (2024: £1,150k).

• Enterprise is forecasting positive cash flows and a future profitable performance with key contracts secured and continuing to deliver services for the Calico Group. Some contracts are up for renewal, but the charity has mitigations prepared in the event that any contracts are not renewed

The Board confirms it has a reasonable expectation that the organisation has adequate resources to continue in operational existence for the foreseeable future. Accordingly, it continues to adopt the going concern basis in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. It is not considered that there are any judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

• Pension and other post-employment benefits. The cost of defined benefit contributions and other post-employment benefits are determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, mortality rates and future pension increases. Due to the complexity of the valuation, the underlying assumptions and the long-term nature of these plans, such estimates are subject to significant uncertainty.

Other key sources of estimation and assumptions:

• a) Tangible fixed assets. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

• b) Goodwill and intangible assets. The company establishes a reliable estimate of the useful life of goodwill and intangible assets arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses. Where, in exceptional circumstances, the useful life of goodwill cannot be determined, the life will not exceed 10 years.

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

2. Accounting policies (continued)

Income

Income and how it is recognised is stated below.

Contractual income is recognised in accordance with the contract terms. Rental income is accounted for on an accruals basis.

O ther income (which will include housing benefit, service charges etc) is recognised at the point of delivery.

All income is stated exclusive of VAT. Investment income is recognised on a receivable basis.

Expenditure

Resources expended are included in the Statement of Financial Activities on an accruals basis.

Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, such as support costs, they have been apportioned across the cost categories on a basis consistent with the use of these resources.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Holiday Pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Pensions

The Company operates defined contribution plans for the benefit of its employees. The cost of providing retirement pensions and related benefits is charged to management expenses over the periods benefiting from the employees’ services.

The Company also participates in a defined benefit multi-employer pension scheme, Social Housing Pension Scheme, administered by TPT Retirement Solutions. The Company ceased contributions to this defined benefit scheme as at 1 August 2019. The net change in the net defined benefit liability is recognised as the cost of the defined benefit plan during the period. A liability for the Group’s pension obligations is recognised net of plan assets. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method.

Further details of the assumptions and the pension plans are in note 7.

Irrecoverable VAT

All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Stock

All stock is recognised at the lower of cost and net realisable value. Stock represents white goods and furniture.

Leased Assets

Assets held under finance leases are included in the Statement of Financial Position and depreciated in accordance with the Company’s normal accounting policies. The present value of future rentals is shown as a liability.

The interest element of rental obligations is charged to the Statement of Comprehensive Income over the period of the lease in proportion to the balance of capital repayments outstanding.

Rentals payable under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation less any provision for impairment. Assets with a cost of over £500 are capitalised.

Depreciation on fixed assets is calculated to write off their cost less any residual value over their estimated useful lives, which are reviewed annually, as follows:

reviewed annually, as follows:
Motor vehicles	-	25% pa
Computer equipment	-	25% pa
Fixtures, fittings and equipment	-	20% pa
Leasehold improvements	-	20% pa
Leasehold property	-	75 years
Freehold land	-	Not depreciated

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued) 2. Accounting policies (continued)

Intangible Fixed Assets

Goodwill arising on an acquisition of a subsidiary undertaking is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Subsequently goodwill is carried at cost less accumulated amortisation and impairment losses.

Amortisation is calculated on a straight-line basis over the estimated useful life. The company establishes a reliable estimate of the useful life of goodwill arising on business combinations based on a variety of factors such as the expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed, any legal, regulatory, or contractual provisions that can limit useful life assumptions that market participants would consider in respect of similar businesses.

Intangible Fixed Assets (continued)

Intangible assets are measured at cost less accumulated amortisation and any impairment losses.

Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:

• The technical feasibility of completing the software so that it will be available for use.

• The ability to use the software.

• The availability of adequate resources to complete the development.

• The ability to measure reliably the expenditure attributable to the software during its development.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The principal annual rates used are:

• Software development costs 20 – 33%

Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. Income from Charitable Activities

	Unrestricted Funds 2025	Restricted Funds 2025	2025	2024
			£’000	£’000
Support contracts	3,906		3,906	3,863
Work initiatives	3,625	118	3,743	3,769
	7,531	118	7,649	7,632

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

4. Analysis of Charitable Expenditure

	Support	Work	Restricted	Total	Support	Work	Restricted	Total
	contracts	initiatives	Funds	2025	contracts	initiatives	Funds	2024
Direct costs	£’000	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Staff costs	1,973	1,210	118	3,301	2,110	1,662	110	3,882
Apportioned central costs	(18)	(17)		(35)	118	115	-	233
Governance costs					9	9	-	18
Other direct costs:
Cost of sales	66	1,701		1,767	55	1,412	-	1,467
Client costs	92	11		103	81	31	-	112
Staff costs	77	224		301	49	166	-	215
Property costs	698	193		891	731	197	-	928
Administrative	61	53		114	52	67	-
								119
Recharge	576	300		876	207	148	-	355
Finance	-	1		1	-	23	-	23
Depreciation	18	18		36	21	25	-	46
	3,543	3,694	118	7,355	3,433	3,856	110	7,399

Apportioned central costs are support costs which have been apportioned to all work streams based on the turnover of the work stream in Note 2.

Governance costs include audit fees.

5. Net Income / (Expenditure)

5. Net Income / (Expenditure)
	2025	2024
This is after charging:-	£’000	£’000
Auditors remuneration for audit services (exc. VAT)	9	13
Depreciation of owned assets (Note 9)	36	39
Amortisation of intangible assets (Note 10)	-	6
Operating Leases – Land & Buildings	567	577
Operating Leases - Other	20	77

6. Employees

6. Employees
	2025	2024
Staff costs consist of:	£’000	£’000
Salaries and wages	2,834	3,294
Social security costs	265	282
Redundancy	22	8
Other pension costs	82	96
Pension adjustment	(57)	(54)
	3,146	3,626

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

7. Employees (continued)

The average number of employees during the year, analysed by function was:

	2025	2024
	Number	Number
Support contracts	65	70
Work initiatives	64	82
Overheads	3	2
	132	154
Full time equivalents (36.25 – 40 hours/week)	130	146

During the year, the SHPS DB administration cost is £4k (2024: £4k) in respect of the scheme expenses.

8. Pensions

Social Housing Pension Scheme

The net change in the net defined benefit liability is recognised as the cost of the defined benefit plan during the period. A liability for the Group’s pension obligations is recognised net of plan assets. Pension plan assets are measured at fair value and the defined benefit obligation is measured on an actuarial basis using the projected unit method. The Company ceased contributions to this defined benefit scheme as at 1 August 2019. The latest actuarial valuation was as at 30 September 2023, and the last estimate 30 September 2024.

FAIR VALUE OF PLAN ASSETS, PRESENT VALUE OF
DEFINED BENEFIT OBLIGATION, AND DEFINED BENEFIT	31 March 2025	31 March 2024
ASSET (LIABILITY)
	(£000s)	(£000s)
Fair value of plan assets	907	920
Present value of defined benefit obligation	1,052	1,149
Surplus (deficit) in plan	(145)	(229)
Defined benefit asset (liability) to be recognised	(145)	(229)
Net defined benefit asset (liability) to be recognised	(145)	(229)

	Period from
	31 March 2024 to
RECONCILIATION OF OPENING AND CLOSING BALANCES OF THE DEFINED BENEFIT OBLIGATION	31 March 2025
	(£000s)
Defined benefit obligation at start of period	1,149
Expenses	4
Interest expense	56
Actuarial losses (gains) due to scheme experience	37
Actuarial losses (gains) due to changes in demographic assumptions	-
Actuarial losses (gains) due to changes in financial assumptions	(171)
Benefits paid and expenses	(23)
Defined benefit obligation at end of period	1,052

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

8. Pensions (continued)

	Period from
RECONCILIATION OF OPENING AND CLOSING BALANCES OF THE FAIR VALUE OF PLAN ASSETS	31 March 2024 to
	31 March 2025
	(£000s)
Fair value of plan assets at start of period	920
Interest income	46
Experience on plan assets (excluding amounts included in interest income) - gain (loss)	(97)
Employer contributions	61
Member contributions	-
Benefits paid and expenses	(23)
Fair value of plan assets at end of period	907

The actual return on plan assets (including any changes in share of assets) over the period from 31 March 2024 to 31 March 2025 was (£51k).

	Period from
DEFINED BENEFIT COSTS RECOGNISED IN STATEMENT OF COMPREHENSIVE INCOME (SOCI)	31 March 2024 to
	31 March 2025
	(£000s)
Current service cost	-
Expenses	4
Net interest expense	10
Defined benefit costs recognised in Statement of Comprehensive Income (SoCI)	14

	Period from
	31 March 2024 to
DEFINED BENEFIT COSTS RECOGNISED IN OTHER COMPREHENSIVE INCOME (OCI)	31 March 2025
	(£000s)
Experience on plan assets (excluding amounts included in net interest cost) - gain (loss)	(97)
Experience gains and losses arising on the plan liabilities - gain (loss)	(37)
Effects of changes in the demographic assumptions underlying the present value of the
defined benefit obligation - gain (loss)	-
Effects of changes in the financial assumptions underlying the present value of the defined benefit obligation - gain (loss)	171
Total actuarial gains and losses (before restriction due to some of the surplus not being recognisable) - gain (loss)	37
Effects of changes in the amount of surplus that is not recoverable (excluding amounts
included in net interest cost) - gain (loss)	-
Total amount recognised in Other Comprehensive Income - gain (loss)	37

Calico Enterprise Limited Company number: 06329047

ASSETS	31 March 2025	31 March 2025 31 March 2024
	(£000s)	(£000s) (£000s)
Global Equity	102	102 92
Absolute Return	-	- 36
Distressed Opportunities	-	- 32
Credit Relative Value	-	- 30
Alternative Risk Premia	-	- 29
Emerging Markets Debt	-	- 12
Risk Sharing	-	- 54
Insurance-Linked Securities	3	3 5
Property	45	45 37
Infrastructure	-	- 93
Private Equity	1	1 1
Private Debt	-	- 36
Opportunistic Illiquid Credit	-	- 36
Cash	12	12 18
Long Lease Property	-	- 6
Secured Income	15	15 27
Liability Driven Investment	275	275 374
Private Credit	111	111 -
Real Assets	109	109 -
Credit	35	35 -
Currency Hedging	1	1 -
Investment grade credit	28	28 -
Liquid alternatives	168	168 -
Net Current Assets	2	2 2
Total assets	907	907 920

None of the fair values of the assets shown above include any direct investments in the employer’s own financial instruments or any property occupied by, or other assets used by, the employer.

	31 March 2025	31 March 2025 31 March 2024
KEY ASSUMPTIONS	% per annum	% per annum % per annum
Discount Rate	5.90%	5.90% 4.92%
Inflation (RPI)	3.06%	3.06% 3.11%
Inflation (CPI)	2.80%	2.80% 2.79%
Salary Growth	3.80%	3.80% 3.79%
Allowance for commutation of pension for cash at retirement	75% of maximum allowance	75% of maximum allowance

The mortality assumptions adopted at 31 March 2025 imply the following life expectancies:

	Life expectancy at age
	65
	(Years)
Male retiring in 2024	20.5
Female retiring in 2024	23.0
Male retiring in 2044	21.7
Female retiring in 2044	24.5

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

9. Board Members and Key Management Personnel Remuneration

	2025	2024
	£’000	£’000
The aggregate emoluments paid to or receivable by Directors	-	33
The aggregate emoluments paid to or receivable by executive officers	137	72
The emoluments paid to the highest paid officer excluding pension contributions	70	70
Pension cost for executive officers	2	2
The aggregate amount of any consideration payable to / (receivable from) third parties for	-	(25)
making available the services of non-executive Directors
Total key management personnel remuneration	137	80

Aggregate number of full-time equivalent staff whose remuneration (basic salary, benefits in kind, employer's pension contributions and compensation for loss of office) exceeded £60,000 in the period:

		2025	2024
		Number	Number
£60,000 to £70,000	£60,000 to £70,000	1	-
£70,000 to £80,000	£70,000 to £80,000	1	1

10. Corporation Tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1998 at section 252 of Chargeable Gains Act 1992, to the extent that these are applied to its charitable objects.

11. Property, Plant and Equipment

	Vehicles	Freehold Property	Leasehold Property	Computer Hardware	Fixtures & Fittings	Total
	£'000	£'000	£'000	£'000	£'000	£'000
Cost or Valuation
As at 31 March 2024	63	70	140	74	39	386
Additions	-	-	-	-	-	-
Disposals	-	-	-	-	-	-
As at 31 March 2025	63	70	140	74	39	386
Depreciation
As at 31 March 2024	40	43	11	36	23	153
Charge for period	9	1	1	18	6	35
Disposals
As at 31 March 2025	49	44	12	54	29	188
Net Book Value
31 March 2025	14	26	128	20	10	198
31 March 2024	23	27	129	38	16	233

Calico Enterprise Limited Company number: 06329047

12. Notes to the Financial Statements (continued)

13. Intangible Fixed Assets

13. Intangible Fixed Assets
	Computer
	Software	Goodwill	Total
	£’000	£'000	£'000
Cost or valuation
At 31 March 2024	25	160	185
Additions	7	-	7
	32	160	192
Amortisation
At 31 March 2024	25	160	185
Charge for period	-	-	-
Disposals
At 31 March 2025	25	160	185
Net Book Value
At 31 March 2025	7	-	7
At 31 March 2024	-	-	-

14.	Debtors
		2025	2024
		£'000	£'000
Trade Debtors	Trade Debtors	308	439
Intercompany Balance		262	662
Prepayments & Accrued Income		400	306
		970	1,407
15.	Creditors: amounts falling due within one year
		2025	2024
		£'000	£'000
VAT		70	74
Trade Creditors	Trade Creditors	67	47
Other taxes and social security	Other taxes and social security	81	71
Deferred Income (Note 15)		110	269
Accruals		302	253
Intercompany Balances
		630	714

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

16. Deferred Income

16. Deferred Income
	2025	2024
	£'000	£'000
Balance at 31 March 2024	269	520
Amount released to income	(269)	(520)
Amount deferred in the year	110	269
	110	269

Deferred income comprises Local Authority contract funds received in advance to deliver the services they relate to.

17. Analysis of Net Assets Between Funds

	Unrestricted	2025 Total	2024 Total
	Funds	Funds	Funds
	£'000	£'000	£'000
Tangible Fixed Assets (Note 9)	198	198	233
Intangible Fixed Assets (Note 10)	7	7	-
Net Current Assets	1,421	1,421	1,147
Long Term Liabilities	-	-	-
Pension Liability (Note 8)	(145)	(145)	(229)
Net movement in funds	1,481	1,481	1,151

18. Movements in Funds

	At 31 March	Incoming	Outgoing		At 31 March
	2024	Resources	Resources	Transfers	2025
	£'000	£'000	£'000	£'000	£'000
Restricted Funds	-	118	(118)	-	-
Unrestricted funds	1,150	7,531	(7,200)	-	1,481
Total funds	1,150	7,649	(7,318)	-	1,481

19. Parent Undertaking

The Company is a 100% subsidiary of Syncora Limited (Company No. 11171831), a not-for-profit, non-charitable company limited by guarantee, registered in England and Wales.

The Directors consider The Calico Group Limited (Company No. 08747100), a holding company and the 100% parent of Syncora Limited, to be the ultimate parent entity. Syncora sits between the legal entities and the Calico Group Board. The Calico Group Board has overall control to appoint and remove Syncora Limited Board Trustees. The Calico Group comprises a number of innovative charities and businesses, working together to create social profit.

Consolidated accounts which include the results of the charity can be obtained from:

 Company Secretary, The Calico Group Limited, Centenary Court, Croft Street, Burnley, BB11 2ED

No other accounts include the results of the charity.

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

20. Related Party Transactions

Sales and purchases of goods and services between related parties are at an arm’s length basis at normal market prices. Any outstanding balances are unsecured and interest free.

Calico Homes Limited make purchase ledger and payroll payments on behalf of the Syncora Group and these amounts are then recharged back to the relevant entities.

The Calico Group Limited (“Group”), the ultimate parent company

Group are the contracted party for the Blackburn with Darwen clinical substance misuse service who pay monthly in arrears. At 31 March 2025, the company owed to Group £nil (2024: £nil).

Syncora Limited (“Syncora”), the parent company of Enterprise.

Directors are members of the Syncora Limited Board a holding company with a common board for each of its subsidiaries, which are SafeNet, Acorn and Calico Enterprise. These members received a total remuneration of £34k in 2025 (2024: £33k).

During the year, Syncora recharged overhead costs to Enterprise amounting to £253k (2024: £154k)

At 31 March 2025, the company owed to Syncora £nil (2024: £Nil).

Calico Homes Limited (“Homes”), a fellow subsidiary of Group

During the year, Enterprise supplied Homes with training, apprentices and furniture amounting to £117k (2024: £663k) and Homes recharged office and property rent costs totalling £675k (2024: £267k).

At 31 March 2025, Homes owed the company £5k (2024: £112k).

Acorn Recovery Projects (“Acorn”), a fellow subsidiary of Group

During the year, Enterprise supplied Acorn with training and apprenticeship management amounting to £38k (2024: £20k). At 31 March 2025, Acorn owed the company £84k (2024: £381k).

Ring Stones Maintenance and Construction Limited (“Ring Stones”), a fellow subsidiary of Group

During the year, Enterprise supplied Ring Stones with training and apprenticeship services amounting to £203k (2024: £50k)

At 31 March 2025, the company owed Ring Stones £5k (2024: Ring Stoned owed the company £48k)

SafeNet Domestic Abuse Support Service (“SafeNet”), a fellow subsidiary of Group During the year, the company supplied SafeNet with furniture, amounting to £38k (2024: £31k).

At 31 March 2025, SafeNet owed the company £7k (2024: £4k).

Delphi Medical Limited (“DML”), a fellow subsidiary of Group

At 31 March 2025 DML acquired the trade and assets of Delphi Medical Consultants Ltd (“DMC”)

During the year, Enterprise supplied DML with training amounting to £3k (2024: £nil).

At 31 March 2025, DML owed the company £171k (2024: £51k).

Calico Enterprise Limited Company number: 06329047

Notes to the Financial Statements (continued)

21. Financial Commitments

Operating leases

The payments which the company is committed to make under operating leases are as follows:

		2025	2024
		£’000	£’000
Land and Buildings, leases expiring:	Land and Buildings, leases expiring:
·	Less than one year	205	151
·	Two to five years	64	7
		269	159

22. Contingent Liability

We have been notified by the Trustee of the SHPS that it has performed a review of the changes made to the SHPS’s benefits over the years and the result is that there is uncertainty surrounding some of these changes. The Trustee has been advised to seek clarification from the Court on these items. This process is on-going and the matter is unlikely to be resolved before the end of 2025 at the earliest. It is recognised that this could potentially impact the value of SHPS liabilities, but until Court directions are received, it is not possible to calculate the impact of this issue, particularly on an individual employer basis, with any accuracy at this time. No adjustment has been made in these financial statements in respect of this potential issue.