Company registration number: 06438245- Charily re81stralion number.. 1125571 Plus You Limited (A company limited by share capitsl) Annual Report and Financial Statements for the Year Ended 31 March 2025 IMWWllWll *AEIIK85E' 2311212025 COMPANIES HOUSE A22 #219 201025 Plus You LimRted Annual Report and Financial Statements For the year ended 31" March 2025 Contents Reference and Administrative Details Trustees, Report 5t013 Stalemenl of Trusiees. Responsibilities 14 Report of the Auditors l5to 18 Sialement of Financial Activilies 19to20 Balance Sheet 21 to22 Sthiemcni of Cash Flows 23 Notes to Ihe Financial Siat¢menls 241036 Plus You Limited Annual Report and Financial Statements st For the year ended 31 March 2025 Reference and Administrative Details Trustees Paul Whitmore. Resident Director, Chair Christine Holland. Resident Director Timothy Ink50n. Partner Director {resigned 10 October 2924) Nicola Green, Resident Director Gary King, Partner Director Hadleigh GaudT¢au, Partner Director Jean King, Resident Direclor Chief Executive tkbbie King MBE Registered Office The Highpoint Venue Bursledon Road Southampton Hampshire S019 8BR Company ReElstrAtlon Number 06438245 Charity Registratlon Number 1125571 Soli¢itor$ Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES Bankers HSBC 55 Above Bar Street Soulhamplon S0142DS Plus You Limited Annual Report and Financial Statements sl For the year ended 31 March 2025 Auditor X¢inadin Audit Limited 8th Floor Becket House 36 Old Jewry London EC2R 8DD Accountants Xebra Accountin8 5A The Gardens Fareham P016 8SS Plus You Limited Annual Report and Financlal Statements st For the year ended 31 March 2025 Trustees, Report The Trustees present their Annual Report for Plus You Limited (PYL) for the year ended 31°, March 2025. All individuals appointed to the PYL Board fulfil the role of Trustee, Director and Member, for the pury)ose of this report they will be known as Trustees, and Plus you Limited will be known as PYL. The Irustees confirni that they have complied with the requirements of section 17 of the Charilie5 Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. l. Our aims and objectives Purpose Our Charity was set up to succeed and continue the work of our predecessor. This remains our Primary purpose and is defined ID th¢ objects contained in the Company's Articles of Association as.. The promotion for the public benefit, of urban or rural regeneration, in areas of social and economic deprivation {in particular the Area of Benefit - Thornhill). • To dev¢lop the capacity and skills of the members of the community in such a way that they are bctt¢r able to identify, help meet their needs and to participate more ￿lEY in society. Ainis Our overall aim is to focus on the growth and prosperAty of our residents. by using our resources to provide care, encouragement, and support, empowering the people of Thornhill. So, developing a "Successful, Thriving? Thornhill" In addition to this, PYL would like to ensure that the improvements made to the built environment over the life of our predecessor is maintained and built upon. All surplus funds within the charity will be used to deliver prOjeCt￿1n1tiatiVes that will support the achievement of the Charity's aims and objectives. Curren¢year objectives The Charity's objectives for 2024125 continued to be very focused on making a positive impact in our community. How¢ver, th¢ future of the Higbtown C¢ntr¢ remains uncertain, so. Continuing to seek funds or other solutions to support the repairlreopening of tbis site sits at the top of our agenda. This property is a primary ￿Set to the Charity and the Community, that in its prime was a hive of activity, offering a variety of opportunities, activities, events, and support. Plus You Limited Annual Report and Financial Statements sl For the year ended 31 March 2025 Another key focus for the year is ihe Highpoint Venue. We need to focus our efforts to improve revenue in this area of our Charity l Business. With the astronomical increas¢ in rut￿1ng costs this past couple of years and more on the horizon our Cu￿ent revenue streams barely cov¢r the running costs and will not ¢ontinue to do so if costs keep increasing and revenue stays the same or even decreases. The Objective5 for tbe year are as follows.. Community l. Achieve our principal charitable aim of positively impacting the Conununity by building on exisling provisions and projects. 2. Invcstigate needs within th¢ community and identify projects to support the findings. 3. Update our corporate website and increase social media presence to promote the community projects supported by PYL. 4. Explore fvnding opportunities to facilitate the repair I reopening of Hightown. Organls2tlon l. Seek out and appoint additional trustees of PYL to strengthen and diversify the Board. Flnances l. Seek to fvrther utilise our assets to increase our income. Increase room bookings by improving our Highpoint website and additional advertising. b. Continue to support I drive the growth of Highpoint Hospitality Services Limited. 2. Continue to have a sulTicient reserves fund to support the charity in the event of large building repairs and sudden loss of income from our property portfolio. Despite our financial difficulties this year we Continued to deliver our usual aetivities I projects and support to the Community of Thornhill. Please continue to read below for more detailed infomiation on our projects. Our Café/Bar on the other hand has done v¢ry well this ycar. W¢ opened our doors for more daysthours in October 2023, and the business has just grown steadily though the year. Our success story remains the level of Community Projects we have managed to continue to deliverlfund this y¢ar. Plus You Limited Annual Report and Financial Statements For the year ended 31 March 2025 Activities The annual I regular increases in the cost of living continues to have a Si￿lfiCant impact on communities like ours. Families on low income and those on benefits battle against the daily struggles to make ends meet. Projects like our Wann Hub, and OAP Fish & Chip Friday, continue to be more important ihan cv¢r. As well as providing somewbere wami to gather or a hot meal. these projects also provide a safe space to share some social time with others and an opportunity to get out of the house for some fresh air. Reducing isolation and loneliness for our elderly I vulnerable residents is very important too. We were very lucky to again receive some unexpected funding this year from a very generous supporter. This money goes towards supporting our kn'ds Easter, Halloween and Christmas Parties. The kids have a good meal and go home with booty bags and gifis. Our Staff provide all the catering, serving and ¢nt¢rtainm¢nt in house for these projects. Our young people are th¢ future of our Community and Society as a whole. We need to ensure we invest in them and raise their aspirations for their futures. Projects W¢ Tun this year:. the Kids Holiday Lunch Club where up to 30 of our local primary school children can g¢t a free hot lunch & pudding 3 days a week duriDg the school holidays. This year we delivered 567 hot meals and puddings. Our free Santa Grotto runs out of the Highpoint Café/Bar for three evenings in December and just seems to get more and more successfi)l each year. The Grotto is lovely, designed and set up by our Staff team. We get lots of very posilive feedback and all children go away with a selection pack from Santa. Santa gave away 300 selection parks and was left feeling very exhausted needing to recharge his batteries in time for Christmas Ev¢! 30 Children who attend our Holiday Lunch Club were invited to a free Christmas dinner. Everyone went away will full bellies and gifts after a surprise visit from Santa. A successful Tai Chi club Tuns once a week at the Hinkler Centre. Our Community Shop at Hinkler opens 09:00 to 13..00 Monday to Friday. Our OAP Fish & Chip Friday delivered 221 hot meals & puddings this year and put a smile of the face of ov¢r 40 individuals. Our Food Market partnership with Oasis has been very successful this year. It runs out of Highpoint. Library continues to run from the Hinkler CeDtr¢. We also provide an open house service from our offices at Highpoint Monday to Friday, where the community can drop in for help, advice, and signposting to relevant organisations. We provided Basics Bank refe￿alS1v0UcherS and a variety of other support. In addition to the projects l initiatives we deliver, we also take care of our properties to ensure we have the space to use for delivering our activilies and for hiring out to generate the income to fund the projects we deliver. Building management I maintenance is very Costly, arduous, and time consuming so all of this is managed in house. Plus You Limited Annual Report and Financial Statements $t For the year ended 31 March 2025 Public Benefit The Charity's primary purpose is to achieve public benefit, both for Thornhill residents and the wider community. We believe that it is of Public Benefit that PYL should do everything in its power to ensure its ￿tUre survival. The survival of a Charity like PYL, that depends on its assets generating sufficient surplus in¢ome to sustain the Charity's fu￿re and the delivery of projects is always going to be and to date always has been tenuous. In this cu￿ent climate that is even more prevalent, making the future very uncertain and turbulent. With such an uncertain future and the survival of thc Chairty being of paramount importance, much of th¢ year was spent lookAng for ways to mitigate this risk. 2. Achlevements and performance Overall PYL'S project delivery ¢ontinu¢s to be very good making it a success￿1 year, from the perspective of meeting our Charitable aims (As outlined in ihe Activities Section above). However, the financial struggles we've experienced these past few years have just compounded, coming to a head this year forcing the Trustees hand to mak¢ some very difficult decisions. With increased cosls coupled wilh the fall in our income, it remains a stark truth that we can only deliver projects that surplus funds enable us to. It's only the reserves fimd PYL had put aside, that enabled us to maintain and deliver our usual standard of projects during the year. So, going forward things need to change to enable the Chairty to focus more on its charitable activities. 3. Flnanclal Revlew The results for the year ended 31" MaT¢h 2025 and the financial position of the Charity are as shown in the annexed financial statements. Last year's report highlighted that the financial bottom line for the year didn't look good. At the end of this year that statement is truer than ever. Options to improve the Charity's situation are limited and having explored all of them in detail the Trustees chose the besl option available, one that could yield the best outcome for the Charity and potentially secure its future. If we continued to try and increase revenue to offset the losses, we could and most probably would, fall fowl (end up in administration) long before we achieve that position. Taking the view that they would rather give the Charity a fighting chance, the choice to sell one of our properties. despite it being a difficult Choice, was agreed to be the best way forward. As a self-sufficient Chairty. PYL survives solely on the income generated from its property portfolio. This incotne covers all its overheads aud provides a sU￿lUS that then covers the cost of its Charitable activities, the projects and initiatives delivered to Thomhill. Like many Cbarities / Business PYL has struggled this year and even though we all can't continue to blame the difficulties we are currently experiencing on Covid, it most certainly did change things. Things such as behaviours, expectations, how people worl how the workplace is used, workspace Plus You Limited Annual Report and Financial Statements st For the year ended 31 March 2025 requirements. increased costs causing finan¢ial pressur¢s. and so on. For PYL this has led to a seveT reduction in the hire of space at Highpoint. Couple this with the astronomical increases in utilitics and all the Increased cost of running properties, and it spells disaster, the numbers just don't add up. This is all evident in the fjgures attached to this report. As a Charity w¢'ve had to do some serious thinking and make some extremely difficult decisions to ensur¢ the future of this Charity. Our Board of Trustees and Staff Team take their roles and responsibilities very seriously and are totslly passionate about and committed to ensuring the future of PYL for the benefit of Thornhill. This past y¢8r it has also bccomc very apparent ther¢ is no funding streams available to support the repair / reopening of Hightown and as things stand PYL does not have the funds to allocate to such extensive repairs. At the March 2025 Board Meeting taking ￿11 consideration of the financial position, the budget forecast for 202512026, and after many months / hours of deliberation and r¢search, the Board of Trustees made ihe extremely difficult decision to sell one of our properties. This was deemed the only viable way forward that would ease financial pressure and liquidate ￿ndS to support the future aims and objectives of this Charity for many years to come, so securing its fU￿re. It was agreed if this decision was not made the ￿tUre of the Charity would be very tenuous and probably short lived. The property that PYL decided to sell would be The Highpoint Venue. PYL were never the intended owners of such a large, state of the art, property. PYL didn't have the capacity or the resources to deal with it. This situation only came to be after fomier owners Eastpoint went into administration in February of 2014. At first PYL found itself in a very difficult position, however, soon great strides were made, and the building began to yield financial rewards. Sadly, in recent years having experienced the changes outlined above, this property has lefi the Charity with more of a deficit than a positive yield. Also, the added pressure and cost, of constantly trying to increase the trading of Highpoint has made it the right decision to sell. So! PYL wound up the year WAth the focus being on the appointment of Estate Agents and the Highpoint Venue being put up for sale in QI of 202512026. PYL is fully aware that the sale of Highpoint could potenlially be a very long process maybc 2-3 years and will be making financial arrangements to support the Charity though this period. Until such times as Highpoint is sold its business as usual at Htghpoint, we conlinue to take bookings and deliver events, until furthcr notice. In the meantime, Staff work tirelessly to keep expenditure to a minimum, going forward there will be even more-emphasis on this practice. The upkeep of our property portfolio can be very costly and its extr¢mely difficult io predict when repairs costs will arise. This makes it vital for us to take good care of our properties to ensure minimum expenditure in this area. The biggest pressure on the Charity at present is utility costs and property repair costs. The sale of Highpoint is a positive move by the Charity, aiming to liquidate funds to secure the future of PYL for years to come. Il will enable the Charity to return to its roots and focus more on its charitable objectives. Plus You Limited Annual Report and Financial Statements sl For the year ended 31 March 2025 4. Structure, Governance & Management Governing Document PYL is a Trust incotporated as a Charitable Company limited by guarantee, without share capital. As such il was established under the Arti¢l¢s of Association (as amended 3rd October 20I6). The Articles of Association clcarly outlines the objects and powers of the Charitable Company whilst it is governed under its Articles of Association. The Trustees of PYL are the Directors of the ¢haritable company for the purpose of company law. In the event of the company being wound up the Directors are required to ¢ontribiite the sum of £ l. Board of Truslees PYL has a Board of12 Trustees when at full capacity, composed of 7 Thornhill Resident Directors, and 5 Partner Directors. Th¢ names of the Trustees during the financial period arc as s¢t out in the legal and administrative section of this report on page 3. The Board of Trustees meet every quarter (4 times a year) to go over the finances WAth additional specific subject matter meeting as required. The Board is quorale when one third of Ihe Trustees are Present, with the majority of the third being Resident Trustees. The Board spend the 4 quarterly meetings reviewing expenditure against budget forecast and addressing any financial adjustments that may be required moving forward. The remaining meetingls of the year are utilised as a focus group, where ihe Board monitor and plan project d¢liv¢ry and business development. Recruitment of Trustees PYL'S Resident Trustees are elected to the Board via an open and transparent process in accordance with the Articles of Association. All residents living in the community of Thornhill are invited and given the opportunity to pul Ihems¢lvcs forward as prospective Trustees of PYL, Each Trustee will hold office for a tem] as near to six years as possible. An election is held every 2 - 3 years with one third of the Resident Trustees ceasing to hold office (either standlng down or submilting ihemselves for re-election). All prospective candidatcs (iDcluding Trustees up for re-election) are encouraged to canva5 for SUPPOrt/votes. The election process is advertised to the whole community, application fonns are readily available, election statements are prepured, dnd ihe whole election process 15 independently adjudicated (providing the number of candidates looking to sland exceed the number of seats available). If a significant number of candidates do not come forward for election, there is no election process. The candidates that have put tbemselves forward are interviewed and elected by the Trustees. The Articles of Association further enable Resident Directors to be appointed to the Board between elections on a casual basis as required. This is subject to the maximum number of Rcsident Members, as laid out in the Articles of Association. These casual appointments will hold office until the next round of forn]al elcctions, at which point they must put thcmselvcs up for fornial election. On their successful appointment they will hold office for a terni as near to six years as possible. io Plus You Limited Annual Report and Financial Statements For the year ended 31" March 2025 In accordance with the Articles of AssociatlOD, Partner Directors are invited and appointed by the Board of Trustees. Partner Direclors hold office for a terni of two years from date of appointment but may be re-appointed. The Charity has a job description that outlines the roles and responsibilities of being a Director, which is given to all piosp¢¢tive new Directors. All newly appointed Trustees are offered an induction, tailored to mcct individual requirements, and offered the support of a buddy, namely an experienced Trustee. All members of the Board give tbeir time voluntarily and receive no benefits or remuneration from the harity. Any expenses Teclaimed from the charity, must be claimed in accordance with our Board Member and Volunt¢¢r Expenses policy. In Te¢ent years it has proven very difficult to recruit Twstees. This can be seen as a time-consuming arduous task that isn't very attractive. To that end we haven't had to hold a full-scale community election for many years, we currenily appoint to the Board when we can and hold on to our Trustees for as long as we can. Elections In accordance with th¢ Articles of Association, Resident Trustee elections should take place every 2 - 3 years, with one third of the Resident Trustees being required to cease to hold office (these TTUStees are able to re-stand for election). Elections were last held in January 2019, ss stated since this date we have not requir¢d a full election. Risk Management The key risk management issues identified by the Charity continue to be those of building reserves and diversifying the income. The challenge of increasing revenue is getting harder each year which then puts pressure on any reserves we may have. Currently all our properties could be classed as a risk, as even the newest of them Highpoint, The Hinkler Centre, and the Commercial Units at Hinkler, due to them all being over 12 years old, are generating high cost with general repairs. Hightown got to a point where the Charity could just not afford or justify that level of cost any more. We have managed to retain/maintain the small reserves fund that we have put asid¢ in the past few years, however we are mindful that if things do not improve this will begin to dwindle very soon, Overall, the Charity in the past has been in some tough financial situations, and has dealt with it amicably and survived. However, despite its tenacity, these are very different times we f￿d ourselves in, and there is only so much mitigation one Can achieve! li Plus You LimRted Annual Report and Financial Statements st For the year ended 31 March 2025 Auditors This year the charity's auditors, Xeinadin Audit, have expressed their willingness to continue in that capacity. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in ord¢r to make themselves aware of any relevant audit infomiation and io establish that the charily's auditor is aware of that information. The trustees confm that there is no relevant inforn]atAon that they know of and of which they know the auditor is unaware. In so far as the trustees are aware.. • there is no relevant audit inforn]ation of which the charitable company's auditor is unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that inforniation. Financial Risk Objectives andpolicies The charity's activities expose il to a number of financial risks including credit risk, cash flow risk and liquidity risk. Cashflow risk The charity's activilies do not expose it to any significant areas of cash flow risk. There is no exposure to foreign cu￿encieS or interest rates. Credit risk The charity's principal fulancial assets are bank balances and cash, trade and oth¢r receivables, and property investm¢nts. The charity's Credit risk is primarily attTibutable to its trade receivables. The amounts presented in Ihe balance sheel ar¢ net of allowances for doubtful rpxeivables. An allowance for impainnent is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credif-rating agencies. 12 Plus You Limited Annual Report and Financial Statements st For the year ended 31 March 2025 The charity has no significant concentration of credit risk, otheT than its exposure to its main tenant, being a public body. Liquidity risk In order to maintain liquidity to ensure that sufficient ￿ndS are available for ongoing operations and future developments, the charity has adequate cash reserves and botTowing facilities Sincere Thanks The Trust is graleful for the conimitment, support, and patience provided by its Board of Trustees, Staff, and Volunteers, through what continucs to be the most challenging and turbulent times. Without each and every one of them and their dcdicalion, the fijture of the Charity would not Ix possiblc, nor would it be able to move forward in the positive manner that it currently is. This report has been prepared in ac¢ordan¢¢ witb applicable law and United Kingdom Accounting Standards (United Kingdom Gener211y Accepted Accounting Practice), in accordance with Chapter 3 of Part 16 of the Companies Act 21)06. The annual report was approved by the trustees of the charity on 20th Octolxr 2025 and signed on its behalf by.. Paul Whitmore Chair of Trustees 13 Plus You Limited Annual Report and Financial Statements For the year ended 31" March 2025 Statement of Trustees, ResponsibRlitRes The Truslc¢s (who are also the directors of Plus You Limited for the putposes of company law) are responsible for preparing the tn)stees' report and the financial statements in accordance with Ihe Unil¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requtres the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fJir view of the state of affairs of the charilable company and of its incoming resources and application of resources. including its income and expenditure, for ihal period. In preparing these financial statements, the trustees are required to: select 5Ultable accounling policies and apply them consislcnily; observe the methods and pnnciples in the Charities SORP; make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subject lo any material departures di5¢105ed and explained in the financial slat¢ments- and prepare the financial statements on the going concern basis unless il is inappropriaie lo presume that the charilable company will ¢onlinue in busine5S. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time thc f￿anCIal position of the charitable company and enable them to ensure that the f￿ancial statements comply with the Companies Acl 2006. They are also responsible foT safeguarding the assets of the charitable company and hence for tskin8 reasonable steps for Ihe prevention And deieclion of fraud and other irregularities. Approved by the Trustees of the charity on 201h October 2025 and signed on its behalf by.. Paul Whltmore Chair of Trustces 14 Plus You Limited Annual Report and Financial Statements For the year ended 31" March 2025 Report of the Auditors Opinion We have audiied the financial Slatenients ot- Plus You Limited (the 'charitable company.) for the year ended J l March 2025 whiLh comprise the Statemenl of Financial ALCivities, the Bal¢inLe Sheet. rhe Cash Floiv Sialem¢nt and i)otes to the financial statements. includinby a summary of significant accoiiiiling policies. The financial reporting franiework that ha5 been applied in (heir preparaiion is opplicable law and United Kingdoni AcLounlin¥ Standords. incliiding Financial Reporting Standard 102 The FinanLial Reportinby Siandaid applicable in Ihe UIQ and Rcpublic of Ireland {Unil¢d Kiiigdom Generally Accepted Accounting Practice). Iii oiir opii)ion the financial statemcnls: give a Irue and fair view of the state of the charitable company's affairs as at 31 March 2025 i)d of ils incoming resources and appl icalioii of resources, inLluding its income and expendirure, for the year then ended. have been properly prepared in accordance with Uniied Kingdom Geiierally Accepted Aecounling Praeiice; and haiie been pr¢pLired in